FinPros Review

Founded in 2021, FinPros is a relatively new broker with headquarters in Cyprus. It also operates an offshore branch in Seychelles, which offers non-EU contract specifications to those located outside of the European Economic Area. It therefore operates a decentralized brokerage model.

I. Background and Company Overview of FinPros

FinPros operates a non-dealing desk execution model for a majority of its trading accounts. This model ensures that trades are executed speedily and with no requotes or slippage. This is one of the factors that makes the FinPros brokerage offering attractive to retail traders. Some other points of attraction include:

• An account type that offers beginners the opportunity to test the waters with lower risk.
• A pricing system that suits the trading pattern of each trader.
• Institutional-level swaps with the Vantage account and super low spreads on other accounts.

II. Trading Platforms and Tools

FinPros only offers the MT5 for trading. The platform packs tools that make it a superior version of the MT4. It comes in three versions (desktop, web and mobile) and provides access to some of the tools that are also discussed below.

Talking about tools, here are some that FinPros provides for enhancement of trading by its traders.

• The MT5 provides access to the MQL Community where traders can sign up for signals services, EAs and indicators.
• FinPros has provided the location of its trade servers, which are in London. Users can use a 3rd party VPS provider which is colocated in London to host EAs for trades on the platform.
• FinPros has an extensive trading education suite that features seminars, a blog and other resources to improve the capacity of its clients to trade.

III. Account Types and Spreads

The account types available on FinPros are:

• Edge
• Raw+
• Vantage
• ClassiQ

The ClassiQ account is the beginner-level account, commission-free with spreads starting from 1.5 pips. The maximum leverage on this account is 1:500 and it comes with a $100 minimum deposit.

The Edge account comes with a maximum leverage of 1:400, and spreads start from 0.4 pips. Commissions on trades are charged at the rate of $3.5 per standard lot on each side of the trade. The minimum deposit amount is unspecified. This account suits day traders and scalpers.

The Raw+ account also comes with a maximum leverage of 1:400. The commissions on trades are charged at the rate of $2 per standard lot on each side of the trade, with spreads starting from 0.0 pips. The minimum deposit is also unspecified and only available on inquiry.

The Vantage account is a zero-commission account with spreads starting from 1.6 pips. The maximum leverage on this account type is 1:200. Again, the minimum deposit amount is only stated to individual traders on inquiry.

IV. Contract Specifications

Here are the contract specifications for FinPros:

• Negative balance protection is available for all accounts
• All trades are executed using market execution.
• All strategy types, hedging and use of EAs are allowed.
• Stop out level on all accounts is 30%.
• Minimum and maximum volumes on all accounts are set to 0.01 lots and 50 lots, respectively.
• One-click trading is permitted.
• Only the Vantage account has a swap-free variety.

V. Security and Regulation

The offshore branch of FinPros is operated in Seychelles by FinPros Financial Ltd, a company regulated by the Financial Services Authority as a Securities Dealer. Its operational license number is SD087.

In the EU, the brand is operated by Finquotes Financial (CY) Ltd, a CIF authorized and regulated by CySEC with license number 418/22.

Residents of the certain countries cannot access FinPros' services due to prohibitive local regulation or international sanctions: United States, Cuba, Afghanistan, Botswana, Central African Republic, Chad, Guyana, Iran, Iraq, Laos, Lebanon, Myanmar (Burma), Palestine, Belarus, Russia, Syria Tajikistan, Trinidad and Tobago, Turkmenistan, Ukraine, Uzbekistan, Vanuatu, Yemen and the African countries of Democratic People's Republic of Korea (North Korea), Democratic Republic of the Congo, Equatorial Guinea, Eritrea, Guinea, Guinea-Bissau, Libya, South Sudan, Sudan, Somalia and Zimbabwe.

VI. Customer Support and Education

Contact with the customer support desk of FinPros can be achieved via the following means:

• Email: support@finpros.com
• Online contact form
• Live chat

Conclusion

If you are interested in a brokerage that offers low spreads and institutional swaps within an NDD environment, you need to consider FinPros.