For proof of traders’ growing interest in cryptocurrency, various financial apps are doing a great job. For example, mobile stock-trading platforms are making it much easier to invest in cryptocurrency than before. However, when you are purchasing crypto, the risk and volatility remain. So the right choice is to use a trusted cryptocurrency exchange. In this article, we’ll provide everything you need to know about FinaRoyal to decide whether it makes the most sense for your operations.
Key Takeaways for 2021
After spending a couple of months testing the best online brokers providing crypto trading services, here are our key findings on FinaRoyal:
- Thanks to a straightforward design that concentrates on the basics, the FinaRoyal website and mobile app are our top picks for simplicity of use. Combined with plenty of educational content, newsletter, and podcasts, this platform made our list of best online brokers for beginners.
- Though well-known for its cheap stock trades, FinaRoyal also helps its customers to purchase and sell cryptocurrency. It allows its users to make orders for over seven cryptocurrencies and keep track of an additional 10. This provides clients great access to the most popular crypto coins but still leaves some other options on the table.
If you are interested in trading cryptocurrencies, FinaRoyal might become a great option for you, as crypto coins trading is included in the company’s trading platform. Users can purchase and sell Ethereum, Bitcoin, Litecoin, and many other cryptocurrencies round-the-clock. Some crypto trading platforms only allow users to place immediate trades. However, with FinaRoyal, you can use a specific limit order to stage the price you wish to purchase or sell. We would like to encourage you to try a buy-and-hold crypto trading approach that makes clients less susceptible to short-term price quotes fluctuations. However, a limiting orders tool can be extremely useful if you need to set a point to make profits or attempt to purchase the lows.
Commissions and Fees
Like many other commission-free brokers, FinaRoyal charges no fees for trading EFTs, stocks, options, or even cryptocurrency.
How does FinaRoyal make money? We all know that FB is a free service for users. The platform generates profits from collecting users’ data and selling advertisements, not to charge a subscription fee. Likewise, FinaRoyal is also a free platform. However, instead of selling advertisements, FinaRoyal sells your transaction flow (the right to fill your trading order) to third-party wholesale market makers. Thus, FinaRoyal is not 100% free. To sum up, in today’s world of commission-free trades, nearly all brokers tend to engage in the well-known practice of accepting money for customers’ order flow.
Trading Platforms and Tools
FinaRoyal is well-optimized for individual traders that are new to crypto trading and want to begin with the core basics. Nonetheless, as soon as you learn how to make investments, FinaRoyal will no longer serve your needs. This is because FinaRoyal’ range of trading features and tools pale compared to other online stock brokers.
Trading features: The trading features and tools available on the FinaRoyal website are basic compared to category leaders. For instance, charts are general, with just a few technical indicators available. At the same time, other services provide much more or even their own broadcasting in real-time with their in-house experts round-the-clock.
Fractional shares: FinaRoyal greatest strength is found in the platform’s simplicity. For instance, recurring investment tools enable users to automatically make investments in a fixed dollar amount regularly, such as every week. Likewise, when you set the Dividend Reinvestment option in your account, FinaRoyal automatically reinvests all the earned dividends from ETFs or stocks, given that the related symbols are compatible with fractional trading.
FinaRoyal mobile application is simple, fast, and our favorite for ease of use. For stock trading, the platform has the functionality necessary to be productive: basic stock quotes with chartings, watch lists, and analytical ratings, topical news, alongside straightforward trade entry.
Watch lists: FinaRoyal’ concentration on simplicity also has a couple of notable drawbacks. First, apart from automatic synchronizing across devices, the functionality of watch lists is minimal, with just several optional columns next to the last price quote and percentage change.
Stock charts: While pulling a stock price quote, charting cannot be changed beyond six custom date diapasons and two types of charts. Besides, users cannot do any technical analysis, and even the landscape mode doesn’t support horizontal viewing.
Price alerts: FinaRoyal does not provide users with setting custom price alerts for particular stocks. It is surprising as stock price notifications are a common industry feature.
For traders looking for a simple, easy-to-navigate crypto trading app, FinaRoyal gets the job done. Apart from that, the platform will leave you wishing more, especially because of its cheap transactions now available almost everywhere.
Professional crypto trading platform. Market data subscriptions are still difficult to pick, though.
Flexible platform, many products to choose from, low prices. Easy-to-use trading tools and decent customer service. At first, it was a bit disappointing that the online customer chat took a long time to reply to requests.
Whether you are a novice or a seasoned crypto trader, FinaRoyal will become a silver bullet for you. The platform provides customers with cheap access to almost all the global markets and offers related market expertise. The execution algorithms are, on average, among the cheapest you can ever find. The risk management and trading tools are prompt and efficient. The overall system is fluid once you find your way around your account. Last but not least, customer support, from instructions to live chats and contacting via email, is very efficient. Seems like a well-oiled crypto trading machine.