Finpari is a binary options broker that targets an international audience. They work with both large and small traders, and they are a quickly growing broker. Before you open an account with them, read our review so you know what to expect.
What to Look For
If you are interested in trading at Finpari, there are certain features of the broker that standout above others. For one, the minimum trade amount is far smaller than that of other sites. While many places require you to trade $25 or even $10 as a minimum, Finpari allows you to trade as little as $1 per trade if you so desire. This is a great way to test the waters if you are a new trader, or a safer way to grow your money if you have a smaller sized trading account.
Another nice feature of Finpari’s site is their “follow the leaders” selection. With this, you get to see what the top ranked traders at the site are doing and mimic their trades. This is a good tool for those that want to streamline their trading. It acts as a sort of automated trading system for you, which can be nice if you are trying to grow your money without putting in a ton of time and energy. Just be careful if you decide to use this feature of the site as some traders may be there because of a lucky streak.
How to Get Started
Finpari is pretty easy to get started trading with. You need to create an account and fund it. You can use U.S. dollars or euros, using either credit card, BitCoin, a number of different online wallets, or a direct bank transfer.
Their customer service department is pretty strong, and it is not uncommon for them to call you shortly after opening your account. This is a common sales tactic, but if you do not want to deposit more money into your account, do not. Your goal is to make money, even if that means sacrificing some of the bonus cash that you might be offered now for the sake of learning and growing your money on your own. Be certain that you know your limits and are firm with how much you feel comfortable depositing.
Finpari does accept U.S. customers, but many banks might block your initial transaction with your credit card because their brokerage is located in another country. Be sure to call your credit card company if there is any sort of difficulty with the transaction so that you can use your card to transfer money into your new account. Remember that withdrawals are most easily processed if you use the same method as your deposit. You will need to verify your identity with a driver’s license or passport and a copy of a utility bill to keep your cash as safe as possible.
How to Succeed
If you’re going to trade, you need to know what you’re doing before you get started. Finpari does have a demo trading account if you want to use it, but you will need to contact customer service in order to get access to it as it’s not advertised on the site. They will give you 72 hours to trade through the demo account, but after that time, you will need to start trading with real money if you want to continue using the site. This is a really good way to learn how to navigate the site and use the trading platform, even if you are already a skilled binary options trader.
You will quickly learn that certain assets have higher rates of return than others, and this can vary over the course of the day. Sometimes, the EUR/USD pair will be priced at 72 percent in returns, at others 78 percent, and at other times, 81 percent. It depends on what the market is doing and the time of day that you are using the site. Picking the times when the asset you trade is most profitable will help, but do know that sometimes the rate is increased simply because that asset might be harder to predict, too. It is a balance that you will have to find for yourself.
Another tip to succeed at Finpari is to explore their 60 second trading platform. Unlike many other brokers, Finpari has a low minimum trade amount for this type of trade, ranging from $1 to $10, depending on the day and the time. Most other brokers have a higher number for this type of trade. 60 second options have a large amount of variance, but the low minimum allows you to trade more here, thus allowing you to more safely account for account fluctuations.
Is Finpari a Good Choice?
We can safely say that yes, Finpari is a strong broker for most traders. It is particularly strong for smaller traders, but they have many features that are appealing to larger traders, too. We highly recommend them.