Finquotes Financial (Cyprus) Ltd

FinPros is the trading brand of Finquotes Financial (Cyprus) Ltd, a Cyprus-registered investment firm. The company operates the website finpros.com and is authorised by the Cyprus Securities and Exchange Commission (CySEC) under a CIF licence, number 418/22, with an Authorised status. According to our records, this is the only licence on file for the entity, and no clone or impersonator sites have been identified.

FinPros positions itself as a global broker serving retail and institutional clients. Its website describes a group founded in 2021, with operations across multiple financial hubs. However, the Cyprus entity itself is the regulated entity we have on file, and it is this entity that holds the CySEC authorisation. Traders should be aware that the broader FinPros group may include other legal entities in different jurisdictions.

The core regulatory protection for FinPros clients comes from its CySEC authorisation. CySEC is a well-established regulator within the European Union, and firms it licenses must comply with MiFID II rules, including client fund segregation, negative balance protection, and access to the Financial Ombudsman. The licence number 418/22 confirms that Finquotes Financial (Cyprus) Ltd is authorised to provide investment services, including CFD trading.

We cross-checked this licence against the public register and found it active. This means that, for clients of the Cyprus entity, there is a formal complaints procedure and investor compensation scheme in place. However, the broker's website also references other entities, such as FinPros Financial Ltd in Seychelles, which are not covered by the CySEC licence. Clients should verify which entity they are contracting with, as protections differ by jurisdiction.

FinPros offers MetaTrader 5 (MT5) as its primary trading platform. MT5 is widely used in the industry and provides advanced charting, multiple order types, and an integrated economic calendar. The broker states that traders can access over 400 instruments, including forex pairs, metals, energy, indices, and stocks, all available on desktop and mobile.

The platform is designed to cater to both new and experienced traders, with a user-friendly interface and professional-grade tools. FinPros also mentions a social trading platform, though details are limited on the main website. For traders who prefer algorithmic trading, MT5 supports expert advisors and automated strategies.

FinPros offers several account types to suit different trading styles and capital levels. The Cent account is aimed at beginners, with a low minimum deposit of $10 and leverage up to 1:1000. The ClassiQ account requires $50 and offers standard conditions. The Pro account, with a $500 minimum, provides tighter spreads from 0.9 pips. The Raw+ account, designed for professional traders, has a $2000 minimum deposit and raw spreads.

Leverage varies by account type, with the Cent account offering up to 1:1000, while other accounts are capped at 1:500. It is important to note that leverage limits may be lower for European clients due to regulatory restrictions. Spreads are variable and depend on market conditions. The broker also mentions NDD execution, which suggests a no-dealing-desk model, though this is not independently verified.

FinPros supports a range of payment methods, including credit/debit cards, bank wire transfers, and various e-wallets and cryptocurrencies. Most methods are processed instantly with no deposit fees, according to the broker's website. Bank wire transfers take 3-5 business days. The broker claims fast withdrawals, though processing times may vary depending on the method.

Currencies supported include USD, EUR, GBP, JPY, and CAD, among others. The availability of payment methods may depend on the client's country of residence. Traders should review the broker's deposit and withdrawal policy for full details, including any potential fees that may apply to certain methods or currencies.

FinPros appears to target a broad range of traders, from beginners to professionals. The Cent account is designed for those new to trading, offering a low entry point and high leverage. The Pro and Raw+ accounts cater to more experienced traders seeking tighter spreads and larger order volumes. The broker also mentions institutional services, though these are not detailed on the public website.

Given its CySEC regulation, FinPros is particularly relevant for European traders who value regulatory protection. However, the broker also serves clients globally through its international entities. As with any broker, potential clients should consider their own trading experience, risk tolerance, and regulatory jurisdiction before opening an account.

Trading leveraged products such as CFDs carries a high level of risk and may not be suitable for all investors. Leverage can amplify both gains and losses, and it is possible to lose more than your initial deposit. FinPros provides risk warnings on its website, and traders should ensure they understand the risks involved.

Our records indicate that FinPros has a FXCanary Scam Risk Score of 34/100, which we classify as 'Guarded'. This score reflects that no verifiable website or social-media presence was found in our initial checks, though the official domain is active. We note that the broker's website is operational and the CySEC licence is valid, but traders should conduct their own due diligence and consider the entity they are dealing with.