Finexo is a quality forex retail broker and a white label of Saxo Bank. The broker has been in operation since 2003, so they are a relatively young broker, but have already gained some market shares, I would guess not least because of their involvement with Saxo Bank. So let me give you the lowdown on why you may want to trade with a Saxo Bank partner.
Well, Saxo Bank is a Danish broker and bank and one of the biggest players in the business. They are not really a forex broker, although you can trade forex with them easily. They are an all purpose online broker, offering stock trading, bond trading and derivative trading as well. Now, Saxo Bank is indeed a great broker and a great place to trade, but the problem for many people is that they do not accept small customers. They simply do not want the hassle of executing smaller orders as they have many large customers and institutions that they trade for. So unless you are ready to fork over tens of thousands of dollars then you should not bet on trading with them. That’s a real shame though as their trading platform, Saxo Trader is arguably the best online platform in the world.
That’s where Finexo comes into play. They are a white label of Saxo Bank, meaning they use Saxo Bank’s platform and operations, but do not enforce the same entry levels as Saxo Bank. So you get the best of two worlds here, Saxo Banks great software and Finexo’s low minimum deposits.
Finexo is an easy broker to sign up with and begin trading with. It is a fast process to open an account and start trading. I was literally hitting the interbank markets in minutes. Finexo offer many different payment methods such as all the major credit cards and a number of online payment processors and online wallets including paypal and Moneybookers.
Finexo’s trading platform is as already mentioned the same SaxoTrader, which is a great, fast and reliable platform, the best in my opinion. They are so dominant in the market that even their competitor E-Trade uses their platform for some of their dealings. They are the best choice for professionals as well as beginners. You have all the needed functionality and one click trades.
You also receive the very practical mobile trading opportunities. Trade from anywhere form your cell phone or any computer that you are at. There is no need to download the software or install additional programs.
Finexo offers an amazing 50 currency pairs that you can trade, so if you have specialized knowledge, I could see that as being a real advantage with trading there. It is nice to have the choice even if you stick to the major pairs.
Finexo has spreads at 3-5 pips depending on your account type. VIP accounts get lower spread and higher leverage.
I like Finexo a lot, particularly because they use Saxo Trader, that makes it easy and reliable to trade forex.