Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
OnFin Pros & Cons
OnFin (ECN.Broker) uses ECN technology and direct access to markets and liquidity providers to ensure instant order execution at market prices with no requotes and lowest spread. OnFin gives customers access to trade with more than 260 instruments, here customers can benefit from commissions starting with $0, as well as commission-free deposit and withdrawal of funds. Here at OnFin, cent and Islamic (swap-free) accounts are available.
TU Expert Verdict
OnFin carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
OnFin User Reviews
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5-star
13%
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4-star
7%
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3-star
73%
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2-star
7%
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1-star
0%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria10 /10The trading and non-trading commissions of OnFin have been analyzed and rated as having Low fees, with a fees score of 10/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No inactivity fee
- No deposit fee
- No withdrawal fee
- Complex fee structure
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of OnFin with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, OnFin’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
OnFin Standard spreads OnFin OANDA FOREX.com EUR/USD min, pips 0.4 0.1 0.7 EUR/USD max, pips 1.0 0.5 1.2 GPB/USD min, pips 0.8 0.1 0.9 GPB/USD max, pips 1.4 0.5 1.4 RAW/ECN Account Commission And Spread
The spread on ECN/RAW accounts is market-based and fluctuates, with average values given during active hours. It may vary during volatility spikes. A commission per lot is also charged.
OnFin RAW/ECN spreads OnFin OANDA FOREX.com Commission ($ per lot) The commission is the fee charged by the broker for trading one standard forex lot (100,000 units of the base currency). 1.5 3.5 5 EUR/USD avg spread 0.1 0.15 0.2 GBP/USD avg spread 0.1 0.2 0.4 Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with OnFin. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
OnFin Non-Trading Fees OnFin OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 0 0 15 -
Is OnFin Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria2.5 /10OnFin has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Negative balance protection
- Track record over 11 years
- Not tier-1 regulated
- Not regulated
OnFin Security Factors Foundation date 2015 Negative balance protection YesVerification (KYC) YesOnFin is Not a Regulated Broker
Attention! It's your choice to work with regulated or unregulated brokers, but please consider the risks carefully. Unregulated brokers might offer lower fees and flexible trading options, but they lack investor protection, have a higher fraud risk, and no guarantee of withdrawals. Thoroughly research before deciding.
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Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.9 /10OnFin offers the following account options: Demo, Standard, ECN/Raw spread, Cent, Micro, Swap Free, VIP, Managed.
OnFin covers the core account types, making it convenient for traders with different preferences and strategies.
- Swap Free (Islamic) account
- Cent account for beginners
- Exclusive VIP account with enhanced trading conditions
- Complex account structure
OnFin account types vs top competitors ECN.Broker Plus500 Trading.com Standard YesYesYesECN/Raw spread YesNoNoDemo YesYesYesCent YesNoNoMicro YesNoNoSwap Free YesNoNoVIP YesNoNoManaged YesNoNoOnFin accounts trading conditions
ECN.Broker offers three account types with leverage up to 1:1000 and access to trading from 0.01 lot. Each account type is offered with a Swap Free (Islamic) option.
Account Type Description ECN These are accounts with a minimum deposit of $50. The commission per lot is $4, with floating spreads starting from 0.0 pips. They allow trading in Forex, metals, CFDs on stocks, and indices. The Stop Out level is set at 40%, and the Margin Call is at 100%. The order execution type is Market. ECN MINI These accounts are designed for trading currencies and metals with no commission per lot. Spreads are floating, starting from 1.2 pips. The Stop Out level is set at 20%, and the Margin Call at 50%. The initial deposit amount starts from $1. ECN FIX These are accounts with fixed spreads starting from 3 pips and no trading commission. The minimum deposit is $50. These accounts are designed for trading Forex, metals, CFDs on indices, stocks, and commodities. Margin Call is set at 50%, and Stop Out at 20%. Demo accounts are similar to live accounts but with a virtual deposit. They are available on the MT4 platform for free and can be used for education, practice, or testing the broker's trading conditions.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology5.8 /10OnFin received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
OnFin provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No deposit fee
- No withdrawal fee
- Bank card deposits and withdrawals
- Minimum deposit below industry average
- USDT payments not accepted
- PayPal not supported
- Wise not supported
What are OnFin deposit and withdrawal options?
OnFin provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC.
OnFin Deposit and Withdrawal Methods vs Competitors OnFin Plus500 Trading.com Bank Wire YesYesYesBank card YesYesYesPayPal NoYesNoWise NoNoNoBTC YesNoNoWhat are OnFin base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. OnFin supports the following base account currencies: USD.
What are OnFin's minimum deposit and withdrawal amounts?
The minimum deposit on OnFin is $1, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact OnFin’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7.3 /10OnFin offers a limited selection of trading assets compared to the market average. The platform supports 260 assets in total, including 52 Forex pairs.
- Copy trading platform
- Indices trading
- 52 supported currency pairs
- Bonds not available
- Limited asset selection
Supported markets vs top competitors
We have compared the range of assets and markets supported by OnFin with its competitors, making it easier for you to find the perfect fit.
ECN.Broker Plus500 Trading.com Currency pairs 52 60 69 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 260 2800 69 Stocks YesYesNoCommodity futures YesYesNoCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. YesYesNoStock indices YesYesNoOptions NoYesNoInvestment options
We also explored the trading assets and products OnFin offers for beginner traders and investors who prefer not to engage in active trading.
ECN.Broker Plus500 Trading.com Bonds NoNoNoETFs NoYesNoCopy trading YesNoNoPAMM investing NoNoNoManaged accounts YesNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at OnFin by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10We successfully registered an account with OnFin in 8 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at OnFin is $1. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Low minimum deposit requirement
- Fully online account opening process
- Quick KYC verification (1 business day or less)
- Account setup process may feel less convenient for beginners
OnFin account opening ECN.Broker Plus500 Trading.com Online Registration YesYesYesMinimum deposit $1 $100 $50 Mandatory KYC YesYesYesRegistration time (min) 8 20 KYC time (days) 1 3 2 Is OnFin available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
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Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria7.2 /10OnFin received a score of 7.2/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
- One-click trading
- API access for automated trading
- Free VPS for uninterrupted trading
- Trading bots (EAs) allowed
- No access to a proprietary platform
- Strategy (EA) Builder is not available
- No TradingView integration
Supported trading platforms
OnFin supports the following trading platforms: MT4. This selection covers the basic needs of most retail traders. We also compared OnFin’s platform availability with that of top competitors to assess its relative market position.
ECN.Broker Plus500 Trading.com MT4 YesNoNoMT5 NoNoYescTrader NoNoNoTradingView NoYesYesProprietary platform NoYesYesNinjaTrader NoNoNoWebTrader NoYesYesKey OnFin’s trading platform features
We also evaluated whether OnFin offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.
Supported features 2FA YesAlerts YesTrading bots (EAs) YesOne-click trading YesScalping YesSupported indicators 68 Tradable assets 260 Additional trading tools
OnFin offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.
OnFin trading tools vs competitors ECN.Broker Plus500 Trading.com Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making. YesNoYesAPI YesNoNoFree VPS YesNoNoStrategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills. NoNoNoAutochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels. YesNoNo -
Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria2 /10OnFin supports mobile trading, offering dedicated apps for both iOS and Android. OnFin received 2/10 in this section, which suggests limited user interest or weak performance of the apps.
- Android and iOS apps
- Mobile alerts not supported
We compared OnFin with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.
ECN.Broker Plus500 Trading.com Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms. 0,00 10,000,000 50,000 App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience. 0 4.7 4.8 Google Play score 0 4.4 4.7 Mob. 2FA NoYesYesMob. Indicators NoYesYesMob. Alerts NoYesYes -
Customer Support
Score:We evaluated Customer Support at OnFin by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria3.2 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
Contacts Foundation date 2015 Registration address Kipshidze Street 17, Office 97, Tbilisi, Georgia 0179 Official site https://onfin.io/ Contacts support@onfin.io +995706770001
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FAQs
What does the low safety score say about OnFin’s regulation and risk level?
OnFin has a safety score of 2.5/10 and is described as a low security level broker, with the review explicitly stating that it is not regulated. The section notes that unregulated brokers may involve higher risks such as lack of investor protection, higher fraud risk, and no guarantee of withdrawals, and it advises considering these factors carefully before deciding to work with such firms.
How competitive are the trading and non-trading fees at OnFin?
The review rates OnFin’s overall fee structure at 10/10, indicating low trading and non-trading fees, including tight EUR/USD spreads and the absence of deposit, withdrawal, and inactivity fees. For example, standard account EUR/USD spreads are listed between 0.4 and 1.0 pips, while RAW/ECN accounts show an average EUR/USD spread of 0.1 pips with a $1.5 commission per lot.
What do user reviews and ratings indicate about overall satisfaction with OnFin?
OnFin has a user satisfaction score of 6.5/10 based on 14 reviews, with most ratings clustered at 3 stars (73%), and smaller portions at 5 stars (13%), 4 stars (7%), and 2 stars (7%), and no 1-star ratings. According to user reviews, this distribution suggests a generally mixed experience, with neither strongly positive nor strongly negative consensus.
Which markets and instruments can be traded with OnFin, according to reviews and analysis?
OnFin supports 260 tradable assets, including 52 forex pairs, along with access to stocks, commodity futures, cryptocurrencies, and stock indices, but no ETFs or options. The section notes that its overall asset selection is limited compared to the market average, although it does offer a copy trading platform as an additional investment option.
What trading platforms and tools do reviews highlight for OnFin users?
OnFin provides access to the MT4 platform with features such as one-click trading, support for trading bots (EAs), 2FA, alerts, and 68 built-in indicators, and it supports 260 tradable assets on this platform. Based on user feedback summarized in the review, additional tools include free VPS and API access, while some advanced options like TradingView integration, a strategy (EA) builder, and a proprietary platform are not available.
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