OnFin's ECN spreads, tier-1 liquidity claims and 1:3000 leverage are built for active traders who fund with Opay or OFA and move fast. But the badge is MISA Comoros — offshore and lightly supervised — and the non-trading fee terms mean idle accounts get bitten. A capable execution venue, not a safety-first one.
OnFin runs a genuine ECN model with spreads from 0.0 and a $1 entry, backed by MT4/MT5 and broad Southeast-Asian payment rails. The catch is oversight: it is licensed only by MISA in the Comoros, an offshore regime with limited recourse, and its fee print — inactivity charges and a 13% fee on funds withdrawn without trading — rewards active traders and penalises everyone else.
Scored against the entity that actually onboards retail clients in your country — not the broker's best licence anywhere.
Effective entity determined editorially; formal regulator-register verification pending.
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