August 10, 2020

Financial Signal Review

Overview:

Financial Signal is overseas-based forex and CFDs broker with branches in countries like Australia, the United Kingdom, Czech Republic, and Sweden. The broker advertises it as a leading CFD provider over cryptocurrencies. Also, it has fx pairs, commodities, stocks, and indices in its product portfolio. The broker offers five trading accounts with the same leverage levels on all of them. In this Financial Signal review, we will discuss all the necessary info you need to know. Read the full review of Financial Signal here.

About Financial Signal:

The five trading accounts are Standard, Bronze, Silver, Gold, and VIP that require a minimum deposit of $500, $2500, $10000, $25000, and $100000. The standard leverage of 1:200 is provided on all the above trading accounts. Unfortunately, the information on the available spreads is not mentioned on the official website.

We always provide a fair and impartial review for that we discuss possible benefits and drawbacks of brokers. This section will cover the potential benefits of Financial Signal. The broker offers over 45 FX pairs and around 200 cryptocurrencies. The FX pair include USDRUB, USDSGD, USDTRY, USDPLN, USDNOK, USDMXN, USDHUF, USDHKD, USDZAR, USDDKK, and USDSEK. The crypto coins include Bitcoin, Ethereum, Litecoin, Ripple, Dash, IOTA, and several others. Also, CFDs over eight indexes, oil, metals, stocks are provided.

The values of spreads are not mentioned on the official website but can be seen on the provided trading platform. It is at 0.6 pips with zero commission. Also, the leverage of 1:200 is provided on all the trading accounts. These leverages are moderate and can be accepted by several traders.

Here the possible drawbacks of Financial Signal will be discussed. The broker claims to be operational from Praha, Czech Republic. It also has offices around the world. The Czech National Bank must regulate the broker operating from the Czech Republic. However, the CNB does not have registration of Financial Signal. Nevertheless, the CNB blacklisted this broker for providing illegal brokerage services.

The broker also provides controversial trading bonuses to its clients. These bonuses are in the rage of 30% to 150%. Such bonuses require high trading volumes before eligible for the bonus withdrawals. Nevertheless, the trading bonuses are not available in the regulated trading markets.

The MetaTrader trading platform is not offered to traders at Financial Signal. The payments accepted by this broker include only two options like bank wire transfer and some e-wallets. The minimum deposit is also high.

Is Financial Signal scam or legit?

The broker is unregulated and is a potential Australian trading scam.