Forex FINOWIZ Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

2.1

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 2.3

Business 1.6

Risk Control 1.9

Software 2.6

Regulatory 2.1

Terminal Snapshot

FINOWIZ Trading Conditions

Registered Region United Kingdom

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email support@finowiz.com

Contact Number N/A

Website www.finowizprime.com

Balanced Review

Pros & Cons

Pros

Regulated by FinCEN
Various trading instruments: forex, indices, metals, cryptocurrencies, energies
Maximum leverage up to 1:500
PAMM and copy trading features available
No fees for deposits and withdrawals

Cons

Not regulated by major authorities like FCA or ASIC
Limited trading instruments (no stocks or ETFs)
No transparency on spreads or commissions
Lack of functional educational resources
No demo account options available

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	FINOWIZ	FXTM	EC Markets	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	United Kingdom	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	2.1/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does FINOWIZ Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Micro Account	Beginners	Low minimum deposit, high leverage up to 1:500	Suitable for small-capital practice, ideal for novice traders
Standard Account	Intermediate traders	No commission, leverage up to 1:400	Requires a minimum deposit of $1,000
ECN Account	Experienced traders	Tight spreads, commission-based trading	Minimum deposit of $2,500; suitable for high-volume traders
Islamic Account	Muslim traders	Swap-free trading options	Requires confirmation of eligibility
Demo Account	All levels	Risk-free practice environment	Available for all users; ideal for testing strategies

Account Opening Process

To open an account with FINOWIZ, traders must follow a straightforward process. First, users need to submit personal information such as name, email address, and phone number. Next, they will provide employment and financial information to assess trading experience and financial status. Identity verification is a crucial step, requiring documents like a government-issued ID and proof of address, such as a utility bill. FINOWIZ allows flexibility in account structure, enabling users to upgrade to a professional account once they meet the required trading volume qualifications.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (EUR/USD)	0.8	$0 (ECN: 4%)	Tight spreads for major pairs
CFDs (Stocks)	0.5	$5 per lot	Competitive pricing for equity trading
CFDs (Indices)	1.0	$3 per lot	Low-cost index trading
Cryptos (BTC/USD)	1.0%	0.1%	Variable depending on market volatility
CFDs (Commodities)	2.0	$4 per lot	Standard rates for commodities trading

Other Fees

FINOWIZ has several other costs that traders should be aware of. Deposit and withdrawal fees are not charged, making it easy for clients to manage their funds. However, inactivity fees may apply if an account remains dormant for an extended period. Traders should also consider platform usage fees, if applicable, and overnight interest rates (swap rates) for holding positions overnight. Currency conversion fees may also apply depending on the payment method used.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

FINOWIZ User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Nikhil Sharma

Delhi, India

★ ★ ★ ★ ★

I’ve been trading with FINOWIZ for the past year, and I have to say, it’s been a great experience. Their platform is user-friendly, and the execution speed is impressive. Withdrawals are processed quickly, usually within a day or two. Customer support is also very responsive and helpful, making the trading experience smooth. Highly recommend for both new and experienced traders!

Sarah K.

Tokyo, Japan

★ ★ ★ ★ ★

Orders are executed lightning fast! I’ve had no delays or glitches so far, which is a huge plus in trading. The platform is reliable, but I wish they had more educational resources available. Overall, I’m satisfied with my experience so far.

Asif Khan

Mumbai, India

★ ★ ★ ★ ★

I faced issues with my withdrawal requests taking too long to process. It often took several days, and customer support was not very helpful in resolving my concerns. While the platform has potential, the slow withdrawal process is a major drawback for me.

Gaurav Mehta

Bangalore, India

★ ★ ★ ★ ★

Absolutely frustrated with FINOWIZ. They closed my trading account without any explanation, and my attempts to reach customer support have been met with silence. This lack of transparency is unacceptable. I would not recommend this broker to anyone.

United Kingdom Market