Finam
- Trust score
- 6/10
- Legal simplicity
- 4/10
- Min. deposit
- 100
- Payment systems
Features
- Seminars and trader education
- Trust management
- Deposit bonus
- Telephone trading
- Affiliate program
- Wide range of trading instruments
Pros
- User-friendly platform for trading stocks and futures
- Wide range of tradable instruments
- Access to proven strategies via Finam's auto-trading service
- Broad selection of markets across Forex and stocks
Cons
- Withdrawals can take a long time
- Some traders report inaccurate chart data
- Trading platforms occasionally freeze
- Withdrawals are inconvenient, and payouts to bank cards aren't supported
- No Brent oil trading available
- Orders have reportedly failed to trigger exactly at the set price
- The trading terminal has been reported to crash
- Trading terms have reportedly changed without notice
- The auto-trade-copying feature (avtosvedenie) has reportedly wiped out accounts for some users
- Some clients report difficulty closing their account
- The personal cabinet (client portal) can be difficult to log into
Updated:
Finam is a Russian brokerage founded in 1994 that gained a Forex dealer license from the Central Bank of Russia in December 2015. It gives traders combined access to Forex and international stock exchanges, with its European arm, Just2Trade Online Ltd, licensed by CySEC in Cyprus. A subsidiary, WhoTrades, extends the offering to US-regulated share trading under FINRA and NFA licenses.
Finam combines Forex and global stock trading with trust management, seminars, telephone trading, and a wide range of instruments.
Overview
Finam is a Russian brokerage founded in 1994, offering access to both the Forex market and global stock exchanges. It was among the first brokers to receive a Forex dealer license from the Central Bank of Russia, issued on 15 December 2015.
Regulation
Finam's European operations run through Just2Trade Online Ltd, a Cyprus-registered entity licensed by the Cyprus Securities and Exchange Commission (CySEC). Cyprus-based clients are covered by the Investor Compensation Fund, and the jurisdiction offers a 12.5% corporate tax rate with exemptions on dividends, share profits, interest, and royalties.
WhoTrades Subsidiary
Finam's subsidiary WhoTrades serves more than 400,000 accounts across 40+ countries. It operates under US rules via FINRA and NFA licenses and holds a separate CySEC license in the EU. Client funds are covered by SIPC insurance up to $500,000.
Forex Account Types
- Standard account: $100 minimum deposit, leverage up to 1:200, 50+ trading instruments, negative balance protection.
- ECN account: $10,000 minimum deposit, 26 currency pairs, built for algorithmic trading.
Trading Platforms
Forex accounts trade on MetaTrader 4, available as a desktop terminal, web terminal, and multi-terminal. For direct access to international stock exchanges (NYSE, NASDAQ, LSE International), Finam offers a unified MMA account through Transaq MMA, TradeX, MMA-Mobile, or MetaTrader 5. A separate platform, ROX Premium, targets US stock market access with Russian-speaking support.
Funding and Withdrawals
Finam supports bank transfers, credit cards, and e-wallets including Skrill and Neteller for both deposits and withdrawals.
Bonuses and Trust Management
New clients can receive a $50 welcome bonus, and accounts can earn 12% annual returns. An Avia bonus converts trading turnover into airline ticket discounts. Finam also offers trust management: pool-based portfolios investing on North American and European stock exchanges, with a $150,000 minimum for the pooled option, plus consulting for traders who prefer to manage their own positions.
Who Finam Suits
Finam fits traders who want combined access to Forex and global stock exchanges under one broker. Traders focused solely on Forex may find dedicated Forex-only brokers offer lower entry thresholds and simpler terms.
