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.
Finex Pros & Cons
- The broker has operated for many years and is highly reliable.
- The minimum deposit is $10.
- Currencies and CFDs are traded on MT5 platforms.
- Leverage is up to 1:500 for metals and Forex currencies.
- Finex provides traders with trading education through seminars and webinars.
- Floating spreads and a low commission of $1 per lot.
- There is a swap-free option for trading on an Islamic account.
- Finex is behind other Forex brokers in its quantity and variety of trading instruments.
- You cannot open a cent account to trade small amounts.
- The broker doesn't offer proprietary investment solutions or support MAM or PAMM accounts.
Finex is a futures and Forex broker based in Indonesia, and it has been granting access to financial markets since 2012. It offers currency pairs, CFDs on international company stocks, the most traded stock indices globally, gold, silver, and WTI crude oil for over-the-counter trading. With Finex, you can open both real and demo accounts on the MetaTrader 5 trading platform and trade assets with leverage of up to 1:500. The broker operates under the supervision of BAPPEBTI (Badan Pengawas Perdagangan Berjangka Komoditi), Indonesia's main regulator for derivative markets. Additionally, Finex is a member of the Jakarta Futures Exchange (JFX), Indonesia’s largest derivatives trading platform, which deals with futures and options.
TU Expert Verdict
Finex 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
Finex User Reviews
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5-star
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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 criteria6 /10The trading and non-trading commissions of Finex have been analyzed and rated as having Medium fees, with a fees score of 6/10. 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
- No inactivity fee
- No deposit fee
- No withdrawal fee
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of Finex 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, Finex’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.
Finex Standard spreads Finex OANDA FOREX.com EUR/USD min, pips 0.5 0.1 0.7 EUR/USD max, pips 0.9 0.5 1.2 GPB/USD min, pips 0.8 0.1 0.9 GPB/USD max, pips 1.5 0.5 1.4 Does Finex support RAW/ECN accounts?
As we discovered, Finex 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 Finex. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
Finex Non-Trading Fees Finex 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 Finex 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 criteria5.8 /10Finex has a safety score of 5.8/10, which corresponds to a Medium 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.
- Is regulated
- Not tier-1 regulated
Finex Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level Abbreviation BAPPEBTI Full Name Badan Pengawas Perdagangan Berjangka Komoditi (Commodity Futures Trading Regulatory Agency) Country of regulation Indonesia Investor Protection Fund No specific fund Regulation Level Tier-2 Finex Security Factors Foundation date - Negative balance protection NoVerification (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.6 /10Finex offers the following account options: Demo, Standard.
However, Finex does not provide an ECN account with direct market access, which may be a drawback for experienced traders or scalpers seeking the lowest spreads.
- Standard account with balanced trading conditions
- Low minimum deposit
- Demo account
- No VIP account option
- No Cent account
Finex account types vs top competitors Finex Trading.com Plus500 Standard YesYesYesECN/Raw spread NoNoNoDemo YesYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP NoNoNoManaged NoNoNoFinex accounts trading conditions
To make the first trade with Finex, traders should open a trading account, which can be done on the broker's website. Upon registration, a login and password will appear on the screen, which is required for authorization in any version of the trading platform. Finex offers two account types, real and demo.
Account types:
Account Type Description Real MT5 This account requires funding using real money. The minimum deposit amount is $10. If a trader wants to trade without accruing swap fees, they can request the swap-free option, also known as an "Islamic account”. The trading commission is the same for all traders, regardless of their turnover. Demo MT5 Demo accounts come with virtual funding of $5,000. They simulate trading on a Real MT5 account, but the trader uses virtual funds, meaning they cannot earn a profit or lose funds in case of a loss-making trade. When opening a real account, a demo account is also automatically opened. Additionally, a trader can first open a demo account, and later open a real account, if they are not ready to trade with their funds.
Finex offers trading of over-the-counter market instruments through the most adapted platform, MT5, which can be confirmed by opening a free demo 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 methodology3.5 /10Finex received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
Finex offers limited payment options and accessibility, which may impact its competitiveness.
- Low minimum withdrawal requirement
- Bank wire transfers available
- No deposit fee
- No withdrawal fee
- PayPal not supported
- USDT payments not accepted
- Wise not supported
What are Finex deposit and withdrawal options?
Finex offers a limited selection of deposit and withdrawal methods, including Bank Wire. This limitation may restrict flexibility for users, making Finex less competitive for those seeking diverse payment options.
Finex Deposit and Withdrawal Methods vs Competitors Finex Trading.com Plus500 Bank Wire YesYesYesBank card NoYesYesPayPal NoNoYesWise NoNoNoBTC NoNoNoWhat are Finex base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. Finex supports the following base account currencies: USD.
What are Finex's minimum deposit and withdrawal amounts?
The minimum deposit on Finex is $10, while the minimum withdrawal amount is $1. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Finex’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 criteria4.5 /10Finex offers a limited selection of trading assets compared to the market average. The platform supports 300 assets in total, including 27 Forex pairs.
- Indices trading
- Multiple markets
- No ETFs
- Copy trading not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by Finex with its competitors, making it easier for you to find the perfect fit.
Finex Trading.com Plus500 Currency pairs 27 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. 300 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 NoNoYesInvestment options
We also explored the trading assets and products Finex offers for beginner traders and investors who prefer not to engage in active trading.
Finex Trading.com Plus500 Bonds NoNoNoETFs NoNoYesCopy trading NoNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at Finex 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.9 /10We successfully registered an account with Finex in 10 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at Finex is $10. This is one of the most accessible and hassle-free onboarding procedures on the market.
- Low minimum deposit requirement
- Fully online account opening process
- Fast registration time (up to 15 minutes)
- Account approval may require extra time depending on the documentation.
Finex account opening Finex Trading.com Plus500 Online Registration YesYesYesMinimum deposit $10 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 10 20 KYC time (days) 2 2 3 Is Finex 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
The process of creating an account on the Finex broker website begins with clicking the "Open Real Account" button. The further actions are described in the instructions below:
Choose a convenient registration method using email, Google profiles, or Facebook. If the client does not want to link their Finex account to their social networks, they can specify their email, name, and phone number in the form and generate a strong password.
The next stage is to confirm your email, phone number, and identity. The email and phone are confirmed by entering one-time codes sent by the broker, and identity is confirmed by uploading scanned copies of documents. Account authorization is done by logging in and entering your password.
Your Finex user account also allows you to:
- Make a deposit and request a withdrawal.
- View your trading history.
- Access statistics on the partner program.
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Customer Support
Score:We evaluated Customer Support at Finex 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 criteria5 /10Customer support at Finex is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. Finex provides basic support functionality but does not stand out in overall service performance.
InformationFinex is always open, however, 24/7 support is only available through online chat and WhatsApp. If a trader wishes to contact its representatives by phone, they can do so anytime from Monday to Friday.
- Online, on-site, and telephone support
- High-speed replies in WhatsApp
- Phone client support is time-limited
- Support responds slowly to emails
Methods by which a trader can contact Finex:
- LiveChat on the official website.
- WhatsApp.
- Facebook.
- Phone.
- Fax.
- Visiting the office in South Jakarta.
The contact section on the Finex website includes a form to request a callback at a time convenient for the trader.
Contacts Registration address PT Finex Bisnis Solusi Futures, Soho Pancoran Tower Splendor FL. 30 Unit 3005 Jl. Letjen MT Haryono Kav 2-3 Tebet, South Jakarta 12810 Regulation BAPPEBTI Official site https://finex.co.id/ Contacts customer@finex.co.id +62 21-5010-1569
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FAQs
How is Finex regulated and what does its safety score indicate?
Finex is regulated by BAPPEBTI in Indonesia, which is classified as Tier-2 regulation and corresponds to a Medium security level with a safety score of 5.8/10. The broker does not have Tier-1 regulation, offers no specific investor protection fund and no negative balance protection, while KYC verification is required; details such as the foundation date are not specified in the section.
What types of trading accounts are available at Finex and what are their key features?
According to the section, Finex offers two main account types: a Real MT5 account with a $10 minimum deposit and a Demo MT5 account funded with $5,000 in virtual money. The real account can be requested as swap-free (Islamic), while the demo account simulates real trading conditions without the possibility of real profit or loss; micro and cent accounts are not available.
What do Finex user reviews say about overall satisfaction with the broker?
Finex has a user satisfaction score of 6/10 based on 5 reviews, with 20% 4-star, 60% 3-star, and 20% 2-star ratings, and no 5-star or 1-star reviews. According to user reviews, overall sentiment is mixed rather than strongly positive or negative.
What deposit and withdrawal options and limits does Finex offer?
Finex supports a limited range of payment methods, primarily Bank Wire, and does not offer bank card, PayPal, Wise, or BTC options, which contributes to a low safety score of 3.5/10 for deposits and withdrawals. The broker charges no deposit or withdrawal fees, has a minimum deposit of $10 and a minimum withdrawal of $1, and supports USD as the base account currency, though the section notes that flexibility is limited and some costs may be higher.
What do user comments and feedback indicate about the Finex account opening process?
The section reports that opening an account with Finex is fully online, with registration taking about 10 minutes and KYC verification typically completed within 2 business days, and describes this as one of the more accessible onboarding procedures. Based on user feedback implied in the section, the main drawback is that final account approval can take extra time depending on the documents provided.
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