FinancikaTrade Review – Is it a Scam or Legit Broker (2020)

In this FinancikaTrade Review, we are going to take a look at the offer that this broker prepared for its traders. FinancikaTrade is regulated by the CySEC in Cyprus. FinancikaTrade operates on the financial market since 1995. When it comes to trading platforms, the broker features . The FinancikaTrade minimum deposit is 200 USD.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Basic information from this FinancikaTrade Review

Website address: financikatrade.com
Operated by: Financika (Sharp Trading) Ltd
Licensed and authorised by regulatory bodies: CySec VFSA
Supported languages: English and Spanish
Customer support available via: E-mail, phone, live-chat
Contact details: [email protected] +27212004239
Available deposit methods: Bank transfer, credit and debit cards, skrill, Neteller
Available withdrawal methods: Bank transfer, credit and debit cards, skrill, Neteller
Minimum deposit: 200 USD
Min. trade in lots: 0.01
Spreads: Typical spread on the currency pair EUR/USD1,0 pips * on standard account type
Tradable assets: Forex (40), stocks (90), indexes (7)
Mobile app: Yes
MetaTrader 4: Yes
Other trading platforms:
Leverage: up to: 1:400
Social trading: No

FinancikaTrade Fees (typical spreads)

We have scanned fees (typical spreads) that FinancikaTrade charges when trading popular currency pairs, here is their breakdown in pips.

EUR/GBP EUR/USD USD/CHF EUR/JPY GBP/USD USD/JPY
0,3* 1,0* * * * *

*Typical spreads were recorded on 17.09.2020 at 09:54 for the standard account. FinancikaTrade spreads in the table above serve as illustrative examples only as they for instance, may change according to the market conditions.

Random reviews of competing FX & CFD brokers: SternMarkets, EoneFX, ArumCapital.eu and KhweziTrade

Frequently Asked Questions

🧐 Is FinancikaTrade a Scam?

FinancikaTrade is a broker licensed and regulated by the CySec and VFSA. While regulation gives to brokers much needed credibility, it still does not mean every regulated broker is honest. In order to be sure that FinancikaTrade is not a scam, read our trader reviews and check other popular trading related websites and forums.

🆓 What is the FinancikaTrade minimum deposit?

In order to start trading with FinancikaTrade, you have to deposit at least 20 USD (Trading accounts can also be held in USD, EUR, GBP).

📵 What deposit and withdrawal methods FinancikaTrade supports?

FinancikaTrade allows funding your account via Bank transfer, credit and debit cards, skrill, Neteller.

⚖️ Would you recommend me choosing FinancikaTrade?

We don’t have our own personal experience with FinancikaTrade. However, because the broker is regulated by the CySec and VFSA, there is a high chance that it is not a scam. With that being said, it still does not mean that FinancikaTrade is the best option, as there are also hundreds of other regulated brokers with similar or even better trading conditions.

Should you be looking for a highly reliable broker featuring forex trading and CFDs, you can get your hands on our marketing broker IQ Option – 85% of retail CFD accounts lose money , which is a CySEC regulated company that allows trading from as little as $10 and charges highly competitive fees on all assets.

Broker Regulated by Regulatory agencies ensure that brokers operate in a transparent and honest way. They protect the best interests of clients and also feature an investor compensation scheme which protects trader´s deposits up to a certain limit. Some of the major regulators in the industry include the CySEC in Cyprus, the FCA in the UK and the ASIC in Australia. Min. deposit Trading platforms A trading platform is a computer or mobile software program used to execute transactions within the financial markets. Spreads Special features A list of features that provide a given broker with a competitive edge. Ad Disclosure The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
CySEC £/€/$ 10 In-house built platform typical spread 3,0 PIPs ¹
  • User-friendly trading platform
  • International support
Start tradingRead a review
CySECFCA £/€/$ 1 MT4 & xStation 5 typical spread 0,9 PIPs¹
  • Competitive spreads
  • Great customer support
Start tradingRead a review
ASICCySECFCA £/€/$ 100 In-house built platform typical spread 0,6 PIPs ¹
  • User-friendly trading platform
  • Long-established company
Start tradingRead a review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

¹ Variable spreads, spreads recorded for the EUR/USD on 05.10.2020 at 11:42 GMT.