Finstera has been flagged by Financial Services and Markets Authority for "Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The only good thing about Finstera is that they remind you why regulation matters. I found them through a financial advisor. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Great customer service|Wide product range
Cons: Could offer more webinars|Research section could be deeper
Finstera seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Great customer service|Real-time alerts
Cons: No phone support on weekends|Minimum deposit could be lower
I closed a profitable position at Finstera and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Low minimum deposit|Intuitive for beginners
Cons: Could offer more webinars