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
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, ZForex and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
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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
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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.0 /10FINAM offers the following account options: Demo, Standard, VIP, Managed.
However, FINAM does not provide a Standard account, which can be a drawback for traders who prefer classic spread-based pricing models.
- Standard account with balanced trading conditions
- Exclusive VIP account with enhanced trading conditions
- Demo account
- No Swap Free account
- No Cent account
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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 methodology4 /10FINAM received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
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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.
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Trading Account Opening
We 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.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 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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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 /10
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FAQs
How are trading commissions and non-trading fees structured at FINAM?
FINAM’s overall fee level is rated as high, with a fees score of 4/10, mainly due to above-average Forex trading fees and the absence of an ECN/Raw Spread account. Standard account spreads on EUR/USD typically range from 0.6 to 2.0 pips and on GBP/USD from 0.9 to 2.0 pips, and they may widen during high volatility. Non-trading fees include a 0–3% deposit fee depending on the method, while withdrawal and inactivity fees are listed as 0.
What trading account types does FINAM provide and what are their key features?
According to the section, FINAM offers Demo, Standard, VIP, Managed, Live, and Unified account formats, although there is an inconsistency where it is also stated that a Standard account is not provided. The Live account is an MT4 account for trading 36 Forex instruments, while the Demo account is intended for training and strategy testing. The Unified account is not a classic leveraged Forex account and is used to trade currency as an exchange instrument on the Moscow Exchange, SPB Exchange, and international markets via QUIK, Transaq, and FinamTrade, and accounts are opened in Russian rubles for 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 0% 5-star, 17% 4-star, 61% 3-star, 4% 2-star, and 17% 1-star ratings. According to user reviews, this distribution indicates a generally mixed perception of the broker’s services, with many users giving average ratings and fewer expressing very positive or very negative opinions.
How does the trading account opening process work at FINAM?
The account opening process at FINAM is fully online, with registration taking about 25 minutes and KYC verification typically completed within 3 business days, and the minimum deposit is stated as $0. The procedure involves filling out a form with personal contact details, waiting for a call from a company employee, then providing documents and signing a framework agreement, after which users can manage accounts, handle deposits and withdrawals, download MT4, and contact support through their personal area.
What feedback is available on FINAM’s customer support responsiveness and channels?
The customer support at FINAM is described as having weaknesses in responsiveness and communication quality, with delays in replies and limited depth of assistance noted during testing. However, the broker provides 24/7 online chat, Russian-language support, educational materials, and assistance with registration and onboarding, as well as phone support on specified hours and free calls on certain mobile networks, though support via social networks is not available.
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