Finexo is a retail forex broker out of Düsseldorf Germany that has been around since 2003. We’ll tell you right off the bat that this forex broker does not offer demo/practice accounts. This is really a shame because their online platform is easy to use and quite inviting for the beginning forex trader. In fact, they seem to cater to those just starting out, so you’d think this would be a no brainer.

Visit The Official Finexo Website

Getting started is simple as you can fund your account and start trading quickly. Funds can be deposited via credit card, bank wire, PayPal, MoneyBookers and e-Bullion. Once logged in you’ll find most all the basics in place. Support comes via phone, email and 24 hour live chat.

As a Finexo trader you will receive daily market updates from the platform itself as well as by email. The trading related information they send is fairly basic in nature, but they do pass along some decent trading ideas. There is an economic events calendar but no real in depth training, videos/webinars or forex related news feeds. The amenities are fairly barebones, but adequate.

Click Here To Visit The Official Finexo Website

The trading platform is based on ForexWebTrader will be welcomed by both forex newbies and advanced traders. Charts are fairly basic, but get the job done. You have one click trading capability with market, limit and stop orders as well as trailing stop capability. You can’t extend or customize this platform, but everything you need, for the most part, is on one page. No frills, but it works. Reporting is also available from within the platform. The mobile phone trading platform might be better than the PC version as it works well.

Like most online forex brokers, Finexo takes a fixed spread that ranges from 3 to 14 pips. They’re a dealing desk so they take the other side of your trade. No big surprises here.

Visit The Official Finexo Website

We’ve heard that withdrawing money can sometimes take longer than expected and sometimes questions don’t get answered as fast as they should. In addition, they seem to frown on scalping, or “sniping” as they call it in the Terms and Conditions. So, when you sign on with Finexo you’re basically giving them the right to take profits form you if THEY determine you are guilty of this. So, they’re basically judge and jury on this one.

Is Finexo a good online forex broker? Finexo caters to new forex traders, but doesn’t seem to offer a full menu of the things beginners really need. We’ll have to see what other BestForexReports.com users have to say about this broker.

:: Official Finexo Homepage ::