The world of online trading has been in the mainstream for a while now. As odd as it may sound, 2020 was one of the best years for this industry. In a situation where most people were bound to their homes, they had to seek out alternative methods of earning an income. So, naturally, many turned to online trading. The last time this industry saw such a spike in interest was back in 2008. It is fascinating how it takes a crisis on a global scale to motivate people to step out of their comfort zone. This proved to be an excellent web of circumstances because many people re-invented them as traders. Similarly, many people notices this trend and decided to open up their own brokerages. One of these is Infinity Capital, and today we will take a closer look at this new brokerage and what they have to offer.
According to the official story, Infinity Capital is founded by industry veterans who wanted to create their own brokerage that will address many of the issues traders face. This is a bold statement, and we wanted to discover how genuine it is. We attempt to approach it from both perspectives (novice and veteran trader) to discover who can actually benefit from this approach.
Quality of service
Providing education content on an online trading website has always been a divisive topic in the community. Many argue that it is pointless because of the abundance of free material on the web, while others see it as a great opportunity to establish trust with their clients. Infinity Capital falls under the latter. They go even further by splitting their content into two parts. The first is accessible to anyone at any time. Without even opening an account, you can access the Glossary, eBooks and the asset index. Once you do decide to commit, you receive much more based on what account type you select.
Let us first address the free content. This is mostly intended for the beginners so that they can master the fundamentals. Glossary is meant to be a type of a dictionary you can use for everyday trading terminology. eBooks give you a basic and intermediate introduction to some trading strategies, and the asset index lets you know what assets you can trade and when.
On the other hand, paid content is designed for intermediate and advanced traders. The tools you are given are both passive and active aids that you can use to maximize your gains. The most basic include daily market reviews, dedicated senior account manager and webinars. More advance range from trading signals, financial and risk management planning, trade room analysis, special venture promotions, private analyst sessions and much more. Be sure to consult the account type page to determine what tier is best suited to your needs, ambitions and budget. Infinity Capital account tiers start at €250 and go as high as €100,000.
Speed of response
Let’s be real, if you used any online service in your life, you must have encountered minor or major issues at some point. This is when you are at mercy of the customer support, and when you realize just how important this segment really is. Running one can be extremely expensive, especially if you are running a multi-lingual operation, so many brokerages opt to forego it altogether. Luckily, Infinity Capital does not fall into this category.
There are multiple communication channels and surprisingly, all of them are equally efficient. Probably the biggest surprise for us was the live chat feature. It isn’t run by a bot, that just directs you to the F.A.Q. page, but a live person. Currently, this option is only available in English, but we were told support in other languages should be coming soon. If you do not have time to chat, you can always write an email, via the on-page form or your preferred email client. You can expect a reply within the hour, which is much less than what we expected. Alternatively, you can phone them directly. Based on your location, you can choose from three different call centres: Australia, the United Kingdom and Austria. All three are operated by polite and professional representatives, you are practically guaranteed a good exchange and a quick fix to any issue you throw their way.
Infinity Capital does not stick with some industry-standard solutions when it comes to the trading platforms but takes a whole different approach. This is where that whole “built by traders for traders” philosophy starts to make sense. Infinity Capital has created a web-based platform that remains feature-rich but manages to outperform almost every competitor when it comes to performance. Let us take a closer look at all the features.
The entire platform is very user-friendly. You will be able to navigate every aspect of it without any issue. On the left, you can find all the available assets that are divided into several categories: Indices, Stocks, Forex, Crypto and Commodities. Each asset contains a small preview window that includes the buy and sell price, as well as the overall performance since the last session. Once you make your selection, on the right you will be able to interact with the real-time performance monitor. There are plenty of tools you can use to perform your own analyses. Granted, the suite of tools isn’t as rich as in Meta Trader for example, but with the provided tools, you will be able to perform the majority of actions. Tools such as Elliott 3 line and Fibonacci are available to create and analyze market movements. You are given enough freedom to create, test and execute any trading strategy that you desire. Regardless of the number of tools you use, performance is not sacrificed, and the platform retains its speed and effectiveness at all times. This is great news especially to those who dedicate a lot of time in the planning stage. Finally, there is plenty of shortcuts on the left that keep you immersed longer by letting you fund your account, browse your opened or closed positions or even contact the support from within the platform.
Transparency is one of the features we hold deer. Despite being relatively new to the market, Infinity Capital manages to appear legit by displaying all of its trading costs upfront. These are the key fees you need to keep in mind when trading:
- Withdrawal Fees
While deposits are free of charge, withdrawals are subjected to fees. You can check the actual amounts on the withdrawal, refund and cancellation policy page. This is one of, if not the most common type of fees in any online brokerage.
- Dormant Account Fees
When no transactions have been executed for 60 days, your account can be charged in the amount of 50 USD/ GBP/ EUR per each such period. This one can easily be avoided simply by keeping an eye on your trading activity. Most traders never even encounter this fee throughout their career, but its still important to know it is there.
- Event of Default Charges
- Overnight Fees
A daily charge may apply to each Forex or CFD open position at the closing of the company’s trading day. Try to be aware of this one, as it can prove the most costly down the road. Just remain vigilant and you will have nothing to worry about.
All of these are pretty standard in the industry, so there are no hidden fees to worry about. We can confirm that we haven’t encountered any mischiefs doing. This is very important especially at such a young age for any brokerage, in order to build trust.
Infinity Capital is not a regulated brand. This is often the case for many new brokerages. Acquiring a licence is very expensive in some markets so it is common for many new brokerages to focus on other aspects first. From everything we have seen first-hand, there seem to be no wrongdoings, and our funds were secure at all times. Whether Infinity will obtain the necessary licences in the future, it remains to be seen, but at this point, they remain a good choice to anyone who is not bothered by them not being regulated.
Variety of Payment Methods
Infinity Capital supports all the mainstream methods of payment. You can use your credit cards, bank wire transfers or Bitcoin transfers. When making deposits, all your transactions occur instantly. When making withdrawals, the situation can differ depending on what option you chose. When using Bitcoin transfer, there is no delay for withdrawals. If you prefer a bank-related method, you might run into some complications. This varies from bank to bank and has nothing to do with Infinity Capital. Some banks have certain policies in place, so always contact your bank beforehand to know what you are getting into. In practice, withdrawals could take 1-5 working days. In our opinion, it may be better to simply open an e-Wallet and skip this bank-related business altogether.
To conclude our Infinity Capital review, we have to state once again how pleased we were with our experience. After experiencing everything we realised that they managed to deliver on that promise they made. Everything is trader-centric, and all decisions have pushed this brokerage in the right direction. Online trading industry sees changes very rarely, so this breath of fresh air is very appealing especially for newcomers who always perceived this business as a very complicated and hard to get into. Infinity Capital has managed to create an equal playing field for everyone by making trading more accessible, and actually fun. We can full-heartedly recement this broker to anyone regardless of your prior experience, or lack thereof.