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Overview

Company FinForce Ltd. began offering online brokerage services in 2005 under the brand FinForce. During its existence, it has distinguished itself as a very effective company, providing high-quality services and the best trading conditions on the Forex market and global markets to traders.

The company entered into an agreement with the Fx-Invest Group Inc in 2012 about collaborative business process management in the field of Internet trading. Nowadays it has its Head Office in Moscow, as well as Representative Offices in Novosibirsk, Krasnodar, Togliatti, Odessa and some other CIS countries. Broker registered a new company in New Zealand, where the license for the provision of brokerage services was issued, in order to attract customers from Europe.

Forex broker FinForce allows beginners to sign up for free online training on the international Forex market and an individual fee-based distance learning, conducted by professional teachers, is provided if it is necessary to pass in-depth training.

The broker also organizes a regular contest for its customers, which is held on demo accounts. It has impressive Forex bonuses for the first places. In addition, many participants may count on consolation Forex bonuses in case of a positive balance at the end of the contest.

Bonuses

Currently FinForce does not provide customers with Forex bonuses for the replenishment of the deposit, but it pays all commission fees associated with the transfer of funds through any payment system, available on its site.

Broker regularly holds a contest on demo accounts for its traders, allowing them to win good prizes, as Forex bonuses, in case of successful trading during it.

Customers need to register through a personal account to participate in the contest, and then the broker assigns a login to a participant and provides access to the contest account, which will have the startup capital in the amount of $5,000.

It is allowed to trade with any trading strategies, Forex expert advisors and other tools according to the rules of the contest. Trading orders, which have the opening and closing time less three minutes, are removed and their results will be not taken into consideration.Participants should conduct at least ten trading transactions during the contest, or they will be eliminated from the contest and will not be able to fight for prizes. All participants should not have open positions on the foreign exchange market at the end of the contest, and if these positions are detected, the traders who have them will not receive prizes even in case of showing a good profit. Dates of the contest vary and the broker informs its customers about them in advance. At the end of the contest the results are summarized and the participants, who have shown the greatest profits while trading on the foreign exchange market, receive bonuses, i.e. cash prizes.

Distribution of the contest prize pool:

- the1st place - Forex bonus is $2,000

-the 2nd place - Forex bonus is $1,000

- the 3rd place - Forex bonus is $500.

All participants of the contest whose accounts have a profit over $6,000 will receive consolation Forex bonuses of $50 on the real accounts.

Winners of the contest have the right to use Forex bonuses for trading on the foreign exchange market, and to withdraw them from the account they will need to make a trade volume one hundred times smaller than the bonus, i.e. for withdrawal of $2,000, it will be necessary to close a volume of 20 lots on the market.

Training

Users can find a large quantity of materials to learn trading on the international Forex market on the site of the FinForce and, if desired, customers can pass fee-based training, which is conducted by professional traders.

Users can find brief information about the history of the Forex market and what is the Bretton Woods Agreement.

Then clients need go to the basics of Forex trading, getting answers to the following questions:

- what is the Forex market

- who trades on the Forex market

- what terms are used while trading currency pairs

- what are advantages of the currency market

- What is margin trading

- what order types are available on the foreign exchange market

- what trading operations can be made on the Forex market

- when the Forex market works

- what are swaps and how to use them.

The next step in learning of Forex trading will be a guide.

Forex market guide:

- basics of technical analysis

- basics of fundamental analysis

- psychology of trading on the foreign exchange market

- correct money management on the Forex market

- Elliott Wave Theory.

Articles are published for novice Forex traders:

- Forex trading strategies, used on the foreign exchange market

- what is hedging

- how to enter effectively on the currency market

- interest rates on the foreign exchange market.

Customers, who have chosen to pass individual distance learning, conducted by professional teachers, can send an application form on weekdays until 4.00 p.m. (Moscow time). After sending an application form, the teacher carries out an initial test to determine the knowledge level of the novice trader and then makes an individual study plan. Classes begin each Monday, and their duration and fees depend on the desired levels of students.

If necessary, traders can open a free demo account, which allows them to trade on the real foreign exchange rates with virtual money on the international Forex market.

Terms of trading

FinForce offers the following trading conditions for traders:

- the foreign currency account (the base currency)

- no minimum deposit

- the leverage is from 1:1 to 1:500

- more than 50 currency pairs, securities, CFD, gold, silver

- spread is fixed from 2 points (the floating one is from 0.5 points)

MetaTrader 4

- multi-language support

- order execution - Instant Execution

- a wide range of technical Forex indicators

- addition of new trading indicators

- installation and creation of scripts, Forex expert advisors in MetaQuotes Language 4

- quotes export via DDE

- chart printing.

FinForce offers its traders a choice of trading accounts for opening, which currently two are available:

- Micro

- Standard.

Trading account Micro:

- no minimum deposit

- spread is fixed from 2 points

- the minimum lot size is 0.01

- market SWAP

- Stop Out is 10%

- number of open orders is unlimited

- automated trading is available.

Trading account Micro:

- no minimum deposit

- spread is floating from 0.5 points

- the minimum lot size is 0.01

- market SWAP

- Stop Out is 10%

- number of open orders is unlimited

- automated trading is available.

Forex indicators (recommended)

- Trade Assistant

- Var Mov Avg

- Schaff Trend Cycle

- ZigZagOnParabolic

- Range Expansion Index.

Forex expert advisors (recommended)

- Spike Trader (an automated Forex expert advisor, which analyzes the foreign exchange market with the help of Japanese candlesticks, allowing it to determine with high probability entry and exit points)

- Binario (an automated Forex expert advisor that operates effectively, using analysis of moving averages, which enables it to make a profit on different currency pairs at different distances)

- RelativeR2 (an automated Forex expert advisor, based on a technical indicator Stochastic, which allows it to conduct profitable transactions on the Forex market in most cases).

Investments

Forex broker FinForce enables clients to invest money in PAMM-accounts, which are managed by professional traders. Investors choose for themselves independently traders, who are willing to transfer funds in trust management.

Investment of funds on FinForce:

- all financial operations are completely transparent

- 24 hours a day monitoring

- requirements for the startup capital are low

- minimum term of investment.

Unique features

FinForce invites traders to participate in an affiliate program, allowing them to earn extra income from the foreign exchange market by attracting new customers.

The affiliate program is divided into three directions:

- Internet Representative

- Regional Representative

- White Label.

Any trader can become an Internet Representative by attracting new customers with the help of the Internet through social networks, blogs, forums, and his own websites and portals, if he or she has them.

Regional Representative may be natural or legal persons, which are willing to open an office in their own region on behalf of FinForce, i.e. the Representative Office of the broker.

White Label is designed for financial institutions that want to start a business in the field of Internet trading under their own brands.

Add/withdraw funds

FinForce provides traders with the following methods to deposit and withdraw funds: RBK Money, BANKRUR, Liberty Reserve, Yandex Money, Elecsnet, Maestro, VISA, MasterCard, QIWI, WebMoney and bamk transfers.

Contacts

FinForce supports its clients concerning all questions through Skype finforce-info, by e-mail: [email protected] (Department of Information), [email protected] (Client Department), [email protected] (technical support), payments @ finforce.ru (Department of Payments). Customers can also contact the specialists of the broker by phone + 7-495-663-72-89.

Cons and pros

+ the fast growing broker

+ no minimum deposit

+ small spread

+ good leverage

+ regular contest on demo accounts

+ a lot of learning materials

+ individual fee-based training.

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