Finpari is a newly launched binary options broker with very promising feature. Sounds impressive but does it really deliver? Let’s find out in this detailed review:
A minimum deposit of $250 is required to open an account with Finpari. This is the same with most brokers in the industry today.
Design and Layout
The overall design is the ideal layout for trading. It’s very pleasing to the eyes and has the right colors making it more engaging and more interesting to use. It loads perfectly and only takes a few seconds.
They accept the most common payment methods and this includes credit cards, wire transfers, PayPal, Skrill, WebMoney and Neteller. This gives a lot of convenience in transferring funds into the account since there are a lot of ways to do it.
32% of brokers in the market today require a minimum trade size of $25 but with Finpari, you only need to invest $1 which is a good advantage for managing the trading funds and lowering down the risks.
They have more than 150 tradable assets, which is the average total number in the market today. It’s good to know that they have covered all the 4 categories giving plenty of opportunities to make differentiated trades.
Around 12% of brokers in the industry today use the new Spot 2.0 platform and Finpari is one of them. This is one of the most advanced platforms in the market today.
After doing several tests on their platform, I encountered slight delays with the market prices that they are displaying on their interface. In most cases though, the feeds are synchronized with real-time financial data.
The maximum payout that you can get out of a regular binary option trade is 90%. This is competitively higher than what most brokers can offer. In fact 33% of the brokers today only offer an average rate of 85%.
Withdrawal Processing Time
With Finpari, processing of refunds is done in a matter of 1 hour. No other broker in the market can actually achieve this kind of speed! This is a far cry to the average waiting time of 10 days that is followed by 21% of the brokers in the market.
Withdrawal Processing Time
Their customer service quality is around average. On the live chat, they promise to provide answers in less than 45 seconds but based on the tests done, they actually take much longer.
As of this writing, Finpari is not regulated with any financial body. That means they are not monitored for their transparency.
Finpari became popular due to their ability to process withdrawals in 1 hour but when it comes to providing the best trading conditions and customer service, they seem to be left behind.
Finpari’s withdrawal processing time is impressive but other than that, their features are basically the same as what most brokers have. In this competitive world of binary options trading, it would be wiser to be with a broker that is regulated, reputable and has more to offer.