Finame

Finame is a Cyprus-based brokerage firm registered under the name Finame (the exact registered legal entity is not publicly confirmed). The company was established on 27 August 2021 and operates from a registered address at 62 Athallasas Avenue, 3rd Floor, Office 31, 2012, Nicosia, Cyprus. Its official website is finame.com.

As a relatively new entrant in the forex brokerage space, Finame positions itself as a provider of online trading services. However, due to limited independent public information, the full scope of its operations and market presence remains unclear. This review is based solely on the known regulatory and corporate records.

Finame lists a licence from the Cyprus Securities and Exchange Commission (CYSEC) under the category 'Forex Execution License (STP)'. However, the status of this licence is marked as '—' in industry databases, indicating that the licence may be pending, inactive, or not fully verified. The address in Nicosia aligns with many Cyprus-registered brokers, and CYSEC regulation typically implies adherence to European client money segregation rules and negative balance protection under the MiFID framework.

Nonetheless, the ambiguous licence status raises questions. Traders should independently verify the licence number and current standing via the CYSEC public register. FXCanary's Scam Risk Score of 43/100 ('Guarded') reflects the need for caution until the regulatory situation is clarified.

At present, no specific information is available regarding the trading platforms offered by Finame. Commonly, brokers in its category provide MetaTrader 4 (MT4) or MetaTrader 5 (MT5), but this cannot be confirmed without access to the official website. Similarly, account types—such as standard, mini, or Islamic accounts—are not documented in the known facts.

The lack of transparent platform and account details is a significant gap for potential clients. Traders seeking to evaluate execution tools, charting capabilities, or account conditions are advised to approach with caution until the broker releases this information publicly.

Given the Forex Execution License (STP), it is reasonable to infer that Finame offers forex and probably CFD trading on indices, commodities, and possibly cryptocurrencies. STP (Straight Through Processing) suggests that client orders are passed directly to liquidity providers without dealing desk intervention, which can mean variable spreads and commission-based pricing. However, no concrete data on spreads, commissions, or the full instrument list is available from the known records.

In the absence of official documentation, traders cannot assess the cost or variety of trading products. This opacity is a red flag for those who prioritise transparent fee structures and a wide range of underlyings.

Cyprus-registered brokers are generally required to segregate client funds from operational accounts and participate in the Investor Compensation Fund (ICF) up to €20,000 per client. If Finame's CYSEC licence is active, these protections would apply. The registered office in Nicosia suggests physical presence in a jurisdiction with established regulatory frameworks.

Nevertheless, the unverified licence status means these protections may not be guaranteed. Traders should not assume any safety measures are in place without direct confirmation from CYSEC. The guarded risk score underscores the importance of due diligence before depositing funds.

Finame appears to target retail forex and CFD traders, likely including both beginners and experienced speculators. Its STP execution model may appeal to traders who want direct market access and no requotes. However, the lack of independent reviews and minimal public information makes it unsuitable for risk-averse traders or those who require full transparency.

The broker may be worth watching for those who prefer to trade with a CYSEC-regulated (if confirmed) entity, but only after the regulatory standing is resolved. For now, it is best suited to traders willing to perform extensive own research and accept higher uncertainty.

Finame presents itself as a fledgling broker with a CYSEC licence that remains unverified. Its Cyprus registration, STP designation, and recent founding date provide some context, but the absence of publicly available information on platforms, accounts, and fees is concerning.

Independent public information is extremely limited. Traders should treat this broker with caution, verify its licence through official channels, and consider alternative brokers with established track records and transparent operations. FXCanary's guarded risk assessment reflects the current information gap.