Financika Trade is an online forex broker that caters to both novice and experienced traders. Sharp Trading Ltd is a Vanuatu-based broker that is also registered with the Vanuatu Financial Services Commission (VFSC) and operates as a European corporation in Cyprus. Customers can be found from Europe to Chile, Mexico, Peru, and Colombia. However, the company’s service address is in Bulgaria.
WebPROfit is a no-load trading platform that is appropriate for traders of all levels. Advanced charting tools, one-click trading, no slippage, and direct platform support are all aspects of the web platform. To use these features, users must first create an account using the website’s online form.
The firm offers a wide range of products:
- Currency trading includes 40+ major, minor, and exotic currency pairs.
- Trade 7 of the world’s most popular indices.
- Over 90 global companies are traded.
- Commodities: trade in gold, silver, and oil.
Spreads and commissions
Spreads start at 3 pips for popular currency pairs, including EUR/USD and GBP/USD, which is higher than most other brokers. The differential between Brent crude is $0.12, while the gap between silver and gold is $0.04 to $1, respectively.
Other costs to be aware of include swap fees on overnight positions and the substantially higher $500 quarterly dormancy fee. This is far greater than the costs levied by other brokers on dormant accounts.
Leverage for CFD stocks runs from 1:10 to 1:200 for commodities and currencies, with indices available at 1:100. These are reasonable leverage rates, allowing traders to open huge positions with little risk.
The WebPROfit mobile app allows users to monitor and transact on their accounts while on the go. Real-time quotations and charts, financial news, and quick account monitoring are all available to mobile traders, just like on the web platform.
The app may be downloaded from the Play Store or the App Store and is compatible with all iOS and Android mobile devices. The PC credentials for FinancikaTrade.com must also function on the mobile app.
Skrill and Neteller are accepted as e-wallet deposits as well as credit card and bank transfers. Please keep in mind that a credit card deposit requires a minimum of $200. Credit cards and wire transfers take 2 to 5 days to process, while eWallet deposits might take up to 5 days.
Withdrawals can be done using the same procedures with a typical processing time of 4-5 business days. Although the company states that there are no withdrawal fees, several online consumer evaluations contradict this assertion. We advise caution when hiring a broker with a history of poor withdrawal procedures.
Deals and promotions.
Clients are eligible for weekly bonuses, which vary in size and style each week. For updates on these perks, traders should visit the broker’s homepage.
When new users register an account, they are given trade credit, albeit information on signup deposit bonuses is restricted. In light of this, it’s worth contacting customer support using the details provided below to learn more. Traders can also benefit from investment protection on their first five trades, allowing newcomers to test the waters in a risk-free environment. Please note that this insurance is subject to the broker’s website’s unique terms and conditions.
Regulation and licensing
The Vanuatu Financial Services Commission has registered and licensed the company (Sharp Trading) Ltd. (VFSC). Cubbon Services Limited, a European subsidiary, is based in Larnaca, Cyprus. However, the VFSC is not well-regarded, and obtaining a license for a possibly fake company is relatively simple.
The company has an academy with tools created specifically for newcomers. A dictionary of words, trading fundamentals, charting and technical analysis, and video training are all included. While there are some useful learning tools available, they are not as extensive as those supplied by rival brokers.
Currency charts, a daily economic calendar, and forex video analysis are some of the more useful analytical tools.
There is only one standard account available, which you can sign up for on the home page. The minimum deposit is $200 with a maximum leverage ratio of 1:200. Please contact support if you have any account-related questions.
The advantages of choosing include:
- The economic calendar and daily analysis
- Training center for beginners
- Personal Account Manager
- Complaints and bad customer reviews
- Restrictions for UK customers
- Inactivity fee of $500
- No demo account.
- One account type.
Users can trade forex and commodities from Sunday 22:00 GMT to Friday 22:00 GMT. CFD trading hours vary as follows:
- US markets: 14:30–21:00 GMT, Monday through Friday.
- Monday through Friday, 8:00 a.m. to 4:30 p.m. GMT in Europe and the United Kingdom.
- Asian markets: Monday to Friday from 0:00 to 2:00 GMT and from 15:30 to 18:00 GMT.
Trading hours for individual indices also vary and can be found on the indices page on the broker’s website.
Customers can access 24/7 support via
- Online Inquiry Form-Contact Us Page
- Contact phone number – +27212004239 (South Africa).
- Email – email@example.com
- Live chat – the logo is located in the lower right corner of the site.