Finpari Binary Broker Review
Finpari was launched in 2014 and has already gone on to be one of the most reliable yet exciting trading opportunities for new and experienced investors alike. There are many aspects of the service that make it eye-catching and outstanding, which we will detail throughout the course of this review. Of all of these factors, we would point out the weekly contest on offer to members, where a free competition can see a number of traders walking away with a share of $20,000.
The brand is available virtually worldwide, including in the US, making it another great option to consider in areas where trading opportunities can be somewhat limited. It also supports a wide variety of banking options and one of the most detailed education sections that we have ever seen, so early indications show that we could have a complete package on our hands. By the end of our review, we’ll know for sure.
The Bronze Account
New members at Finpari are assigned an account level based on their first deposit amount and anyone that goes with the site wide minimum of $250 will find themselves within the bronze tier. Even the lowest level of accounts offers the famous one-hour withdrawal processing time, so if getting your hands on your money quickly and easily is of paramount importance then you are sure to appreciate some of the fastest transactions in the industry. This does of course apply to all membership tiers and the bronze account also offers a decent signup bonus starting at 20 percent, with extra training materials offered too. However, we would recommend going slightly bigger with the first deposit as those tiers are where Finpari really manages to shine.
The Silver Account
A starting investment of $1,000 will see traders entering at the silver level, instantly upping their signup bonus to 50 percent and unlocking several great perks. Finpari lists this as their most popular account type and it is easy to see why as this account comes with an additional demo account, three risk free trades and even more supplementary trading literature.
The Gold Account
The Gold Account comes complete with everything offered within the bronze and silver tiers but is of course even better. Kick things off with a signup bonus that can be worth 100 percent of the first deposit and then take advantage of some of the best perks in the industry, including a dedicated account manager. A $3,000 deposit is required to reach this tier immediately, but that is one of the lowest minimum requirements for the top level of service.
The Fixed Income Account
If you’re looking to get in on the benefits of trading without the need for sifting through data and keeping track of information then the Fixed Income Account could be for you. It utilises all of the elements of binary trading without any of the work and guarantees a return rate, regardless of the performance of individual markets.
Regarding the bonuses offered at Finpari, it always pays to know what you are letting yourself in for, specifically regarding turnover requirements. Here, traders will be expected to reach a reasonable turnover of twenty times the bonus amount within a three-month period. If this is not reached then the bonus is removed, although your own funds are of course safe. If you’d prefer to go without a bonus then traders also have three days in which to contact support to request that the bonuses are removed from their account altogether.
Assets and Software at Finpari
Like most of the newest and best performing trading platforms around at the moment, Finpari makes use of the SpotOption platform. This makes it ideal for traders of all levels and, in addition to offering up to date information on all existing trades, also offers members an insight into what others on the same platform are working with. High/Low, One Touch and Long Term trades are all available over a variety of timescales, among other opportunities to get involved with market performance.
One of the best things about SpotOption, and something that Finpari has taken full advantage of, is that it has been designed to work well across a variety of formats. That essentially means that whether you are at the computer or on the move with your smartphone or tablet, it is easy to view and monitor your trades and even place new ones, although the trading functionality on mobile devices is slightly restricted compared to its online counterpart at this time.
Finpari has also integrated support for Binary Option Robot, which is widely regarded as being one of the best ways to carry out automatic trades. Functionally, it is similar to the Fixed Income Account as the work involved is minimal. However, the returns can be much higher, with the Robot doing all of the work for the trader and placing trades based on raw data, much of which the user never even needs to see.
Finpari Customer Service
Finpari boasts some of the best customer service that we have ever encountered as not only are support staff as knowledgeable and friendly as we would hope, but they also offer service in a number of languages and locations. Email and live chat are great ways to get in touch but it is within the phone support that the brand truly shines. There are toll free numbers in Australia, Russia, Thailand, Singapore and Hong Kong and the available languages measure up nicely to this spread, with support offered in English, Spanish, French,
Thai and Russian.
One potential downside to the overall support platform is the fact that you may need to use it relatively often compared to other brokerages, simply because support in the FAQ and education sections is noticeably limited. Whether Finpari decided that its support team was good enough to make fixed information unnecessary is unknown, but the fact remains that this is a trading platform where traders should not be shy about asking questions.
Managing your Money
Finpari is easy to interact with when it comes to depositing and withdrawing funds, with support offered for all major credit and debit cards, not to mention the most used electronic wallet services around the world, including PayPal.
One stumbling block that may be encountered when withdrawing is that traders cannot withdraw anything at all after accepting a bonus, until that bonus has been turned over at least once. When this has been completed, or the bonus declined entirely, then traders can set about withdrawing as normal with a $50 minimum limit. Each withdrawal comes with a fee of either 1 percent or $20, whichever is higher, and this rate rises to 3.5% or $20 for anyone with an active bonus. Wire transfer withdrawals are charged at a fixed $50 fee in addition to these percentages too.
It is also worth noting that while Finpari lived up to the one-hour withdrawal processing times as advertised, the actual process of receiving the money can take longer. We would suggest expecting a five-day turnaround although this can reach as much as ten days.
Finpari Review in Summary
Virtually everything that Finpari has to offer is great and as a trading platform it simply cannot be faulted, with bonus points for the sheer quality and flexibility of their customer service. It is an attractive site with all of the functionality that traders would expect, although it does come with a couple of downsides, primarily related to withdrawals. If you carry out regular transactions then it can become expensive and the advertised one-hour processing time, while true, does not really hold up in practice even though this is due to factors outside Finpari’s control. That said, if you are comfortable with waiting for your money and cannot see $20 in fees being a deal breaker then everything else is absolutely perfect and we have no hesitation in recommending the brand.