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.
FINAM Pros & Cons
- License from the Central Bank of Russia
- Negative balance protection for retail clients
- No hidden fees
- Direct access to the currency market
- Regulated trading with leverage limits
- Official client support and education
- No cent accounts
- No Islamic accounts
- Only 36 trading instruments
- High spreads starting from 12 pips
Finam Forex LLC is part of the Finam Group of Companies, founded in 1994. It is a major player in the Russian financial market with more than 530,000 clients. Finam Forex LLC is a licensed Forex dealer and a professional securities market participant (license No. 045-13961-020000 issued by the Central Bank of Russia). The broker offers access to trading currency pairs (Forex), CFDs on stocks, commodities, and indices through the MetaTrader 4 platform. Leverage depends on the client’s status. Finam’s services are available exclusively to Russian citizens.
TU Expert Verdict
FINAM demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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FINAM User Reviews
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5-star
0%
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4-star
17%
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3-star
61%
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2-star
4%
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1-star
17%
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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 criteria4 /10The trading and non-trading commissions of FINAM have been analyzed and rated as having High fees, with a fees score of 4/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- No inactivity fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of FINAM 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, FINAM’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.
FINAM Standard spreads FINAM OANDA FOREX.com EUR/USD min, pips 0.6 0.1 0.7 EUR/USD max, pips 2.0 0.5 1.2 GPB/USD min, pips 0.9 0.1 0.9 GPB/USD max, pips 2.0 0.5 1.4 Does FINAM support RAW/ECN accounts?
As we discovered, FINAM does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with FINAM. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
FINAM Non-Trading Fees FINAM OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0-3 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 FINAM 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 criteria8 /10FINAM has a safety score of 8/10, which corresponds to a High 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.
- Tier-1 regulated
- Negative balance protection
- Track record of less than 8 years
FINAM Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation Bank of Russia Full Name Central Bank of the Russian Federation Country of regulation Russian Federation Investor Protection Fund Compensation fund of the Forex Dealers SRO (Association of Forex Dealers, AFD) — compensates retail clients if a licensed forex dealer goes bankrupt; funded by member contributions. Regulation Level Tier-1 FINAM Security Factors Foundation date - Negative balance protection YesVerification (KYC) Yes -
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.0 /10FINAM offers the following account options: Demo, Standard, VIP, Managed.
However, FINAM does not provide an ECN account with direct market access, which may be a drawback for experienced traders or scalpers seeking the lowest spreads.
- Exclusive VIP account with enhanced trading conditions
- Standard account with balanced trading conditions
- Demo account
- No ECN/Raw spread account
- No Cent account
FINAM account types vs top competitors FINAM Trading.com Plus500 Standard YesYesYesECN/Raw spread NoNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP YesNoNoManaged YesNoNoFINAM accounts trading conditions
A trading account is opened in Russian rubles. The service is available to adult citizens of the Russian Federation who are not individual entrepreneurs.
Account types:
Account Type Description Live A real MT4 account for trading 36 Forex instruments. Not intended for stock exchange access. Demo A virtual account for both beginners and experienced traders. Designed for training and testing strategies in simulation mode. Unified Not a classic Forex account, as it does not allow spot Forex trading with leverage. However, it can be used to trade currency as an exchange instrument on the Moscow Exchange, SPB Exchange, and international markets. Available on QUIK, Transaq, and FinamTrade terminals. -
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 methodology4 /10FINAM received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
FINAM offers limited payment options and accessibility, which may impact its competitiveness.
- No withdrawal fee
- Minimum deposit below industry average
- Bank card deposits and withdrawals
- Low minimum withdrawal requirement
- BTC not available as a base account currency
- USDT payments not accepted
- BTC payments not accepted
What are FINAM deposit and withdrawal options?
FINAM offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire. This limitation may restrict flexibility for users, making FINAM less competitive for those seeking diverse payment options.
FINAM Deposit and Withdrawal Methods vs Competitors FINAM Trading.com Plus500 Bank Wire YesYesYesBank card YesYesYesPayPal NoNoYesWise NoNoNoBTC NoNoNoWhat are FINAM base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. FINAM supports the following base account currencies: RUB.
What are FINAM's minimum deposit and withdrawal amounts?
The minimum deposit on FINAM is $0, while the minimum withdrawal amount is Ragnes. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact FINAM’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 criteria5.8 /10FINAM offers a limited selection of trading assets compared to the market average. The platform supports 36 assets in total.
- Commodity futures are available
- Passive income with bonds
- Copy trading platform
- Limited asset selection
- Crypto trading not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by FINAM with its competitors, making it easier for you to find the perfect fit.
FINAM Trading.com Plus500 Currency pairs 69 60 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. 36 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto 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. NoNoYesStock indices YesNoYesOptions YesNoYesInvestment options
We also explored the trading assets and products FINAM offers for beginner traders and investors who prefer not to engage in active trading.
FINAM Trading.com Plus500 Bonds YesNoNoETFs YesNoYesCopy trading YesNoNoPAMM investing NoNoNoManaged accounts YesNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at FINAM 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.8 /10We successfully registered an account with FINAM in 25 minutes. The KYC verification was completed within 3 business days. The minimum deposit amount at FINAM is $0. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Fully online account opening process
- Low minimum deposit requirement
- Registration process may take longer than expected
- Account approval may require extra time depending on the documentation.
FINAM account opening FINAM Trading.com Plus500 Online Registration YesYesYesMinimum deposit $0 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 25 20 KYC time (days) 3 2 3 Is FINAM 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.
Account opening details
A trading account can be opened at a Finam office or on its official website. For online registration, follow these steps:
Fill out the form with your full name, phone number, and email.
Wait for a call from a company employee to proceed with the next steps.
Provide documents and sign the framework agreement.
Additional features of the user account allow traders to:
- Open additional accounts.
- Deposit and withdraw funds.
- Manage balances of active accounts.
- Download the MT4 platform.
- Contact support.
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Customer Support
Score:We evaluated Customer Support at FINAM 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 /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.
InformationFinam provides Russian-language technical support, educational materials, and assistance with registration, verification, and platform onboarding. Chat support is available 24/7. Phone support is available Monday through Friday from 09:30 to 21:00 without breaks, and on Saturday from 10:00 to 16:00 (GMT+3).
- Online support 24/7
- Free calls on Beeline, MTS, MegaFon, and Tele2 networks
- Company offices in 70+ cities
- No support via social networks
Finam’s communication methods:
- Online chat on the website.
- Email.
- Call center.
- FinamTrade app.
Contacts Registration address Moscow, Nastasyinsky Lane, 7, building 2 Regulation Central Bank of Russia Licence number:
045-13961-020000Official site https://finamfx.ru/ Contacts info@forex.finam.ru +7 (495) 796-90-24
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FAQs
How secure is trading with FINAM in terms of regulation and client protection?
FINAM has a safety score of 8/10, which corresponds to a high security level in the reviewed methodology. It is regulated by the Central Bank of the Russian Federation (Bank of Russia), offers negative balance protection, and participates in the Compensation fund of the Forex Dealers SRO, although its track record is stated as less than 8 years and the foundation date is not specified in the section.
What types of trading accounts does FINAM offer and who can open them?
According to the section, FINAM provides Demo, Standard, VIP, Managed, Live, and Unified accounts, but does not offer ECN or raw spread accounts, micro lots, cent accounts, or swap-free options. Trading accounts are opened in Russian rubles and the service is available to adult citizens of the Russian Federation who are not individual entrepreneurs.
What do user reviews say about FINAM’s overall service quality?
FINAM has a user satisfaction score of 5.6/10 based on 22 reviews, with 61% of ratings at 3 stars, 17% at 4 stars, and 17% at 1 star, indicating a mixed perception. According to user reviews, experiences vary, and the distribution suggests neither strongly positive nor strongly negative consensus overall.
Which markets and investment products are available with FINAM?
FINAM supports 36 tradable assets, including stocks, commodity futures, stock indices, options, and does not offer crypto trading, which results in a limited asset selection compared to the market average. The broker also provides bonds, ETFs, copy trading, and managed accounts as additional investment options, and this section notes possibilities such as indices trading and passive income with bonds.
What feedback is available on FINAM’s customer support quality and channels?
The customer support safety score is 3/10, with the section noting delays in replies, limited depth of assistance, and that resolution may require repeated contact. At the same time, FINAM offers Russian-language support via 24/7 online chat, email, call center, the FinamTrade app, and phone support during specified hours, but does not provide support via social networks.
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