Multi-Market Accounts are brokerage accounts that offer access to different financial markets across the globe by connecting traders directly to regional exchanges via brokers or liquidity providers of their respective capital markets. FINAM is one of the unique Forex trading companies in the world that offer the Multi-Market Account MMA as part of their standard services portfolio, which in turn enables clients to invest directly in any financial market without worrying about the safety of their investments.
Unlike traditional brokers that offer financial instruments and products such as shares, equities, indices and bonds through CFDs, FINAM provides direct access to all of these assets through direct market access protocols that are facilitated through established liquidity providers, banks, and other leading brokers in the market. One of the major advantages of an MMA account is the potential for owning a security or stock directly, which qualifies for quarterly dividends according to the performance ratio of the stocks or assets that are held by the investors.
Therefore, FINAM offers a unique opportunity for the largest community of global investors who never had a chance to invest in financial markets in the US, Europe, Asia, Australia, and Africa due to the obvious limitations of geographical location and differing time zones. Cyprus has been a part of the European Union since , which brings the nation under the European Economic Area EEA agreement, thereby enabling companies domiciled in Cyprus to offer its services throughout Europe under the EEA initiative.
The CySEC works extensively with other leading European regulatory agencies to ensure that Europe continues to be at the pinnacle of the financial industry, which is why most Forex brokers and financial companies tend to base their operations in the EU. The CYSEC also ensures that all client funds at FINAM are held in segregated bank accounts at the best financial institutions in the continent, which cannot be accessed by the broker for meeting its operational expenses or for meeting its debts.
FINAM has to undergo periodic financial inspections by the CySEC or other independent financial authorities and submit regular audit reports to the CySEC to ensure that all financial transactions are carried out according to the prescribed laws and regulatory guidelines. If FINAM is found to be in direct violation of any policies or laws, the CySEC and all other European regulators are free to initiate disciplinary proceedings against the company, which may result in a temporary or permanent ban from operating in the EU.
FINAM allows its clients to deposit and withdraw funds using different payment methods, including credit card payments, bank wires, and online e-wallets such as Skrill. FINAM spreads for Forex starts from 0 pips due to the direct market access nature of the trading accounts, but all orders are accompanied by a commission per trade that is described in detail in the official FINAM website. In our FINAM broker review, we found out that the broker provides some of the lowest spreads and commissions in the market, but be aware that there are multiple levels of brokers and liquidity providers in the scene that may put a premium on your trading costs.
The primary concern with MMA brokers is that there are different service providers and interbank liquidity providers that offer their quotes to the end user, which may end up being expensive for the trader. Unlike ECN FX trading accounts, equities and share trading accounts may experience additional costs of trading, but long-term traders and investors should be able to enjoy the benefits of such a brokerage model.
The broker is explicitly clear that all MMA trading services are provided by Just2Trade Online Ltd, which takes care of granting direct market access to stocks and equities market. FINAM does have a confusing product lineup for traders that do not have any extensive amount of experience in the financial markets.
The MMA account, although beneficial in its own rights, should prevent traders from enjoying the essence of a dedicated Forex trading environment. But the company does provide a reliable trading service for advanced traders and investors that seek to diversify their investment portfolio to different financial markets across the world.
If you are looking for better alternatives, browse through our list of recommended Forex brokers today! Your email address will not be published. Experience with this broker Months. Time limit is exhausted. FINAM Review Multi-Market Accounts are brokerage accounts that offer access to different financial markets across the globe by connecting traders directly to regional exchanges via brokers or liquidity providers of their respective capital markets. Was the information useful?
Do you have any experience with this broker? You can share it here: Cancel reply Your email address will not be published. Get the latest Forex updates now! Receive the latest Forex broker reviews and offers Learn more about trading Forex through our academy section Start trading with a demo account and teach yourself to be a trader No thanks, maybe later.More...