Temporary note: As of November 2011, Finasta’s parent company Snoras has been nationalised by the Lithuanian authorities amid allegations of fraud and seems likely to be wound up. Finasta says it is operationally and legally separate from Snoras, will continue to operate as usual and is expecting to be sold as a going concern to a new investor. This entry will be updated with more information when the outcome becomes clearer.
Finasta is the investment and brokerage arm of Lithuanian banking group Snoras. Among other services, it offers online stock trading for a large number of markets in Eastern Europe and beyond at relatively low rates in many cases.
We don’t have any experience of using this firm or comments from other feedback yet. It’s included in the directory because it may be of interest to investors looking to invest in this region, alongside firms such as Brokerjet, Orion Securities and Swissquote. If you have any feedback, you can send us an email using the contact form.
In terms of likely investor security, while Lithuania is not a top-tier financial centre, it is a regulated market and Finasta is overseen by Securities Commission. Lithuania is a member of the European Union and has implemented the EU directive on minimum investor compensation standards, which means that the Deposit and Investment Insurance Fund provides protection of up to €20,000.
| Online trading | Australia, Austria, Belgium, Bosnia, Bulgaria, Canada, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany - Frankfurt, Greece, Hong Kong, Hungary, Ireland, Italy, Japan - Tokyo, Latvia, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, UK, Ukraine, USA |
| Telephone trading | As above |
| Typical online | LTL1.5-380 (~€0.5-100)
|
| Online details | Australia, Belgium, Denmark, Finland, Germany, Italy, Japan, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, USA 0.14-0.42% (min LTL60), Austria 0.24-0.65% (min LTL115), Bosnia 1.5% (min LTL250), Bulgaria 0.35-0.5% (min LTL40), Canada 0.14-0.42% (min LTL100), Croatia 0.48-1% (min LTL130), Czech Republic 0.3-1% (min LTL135), Estonia, Latvia, Lithuania 0.1-0.25% (min LTL1.5), Ireland 0.25-0.65% (min LTL110), Georgia 2.5% (min LTL40), Greece 0.25-0.65% (min LTL110), Hong Kong 0.3-0.8% (min LTL125), Hungary 0.25-0.65% (min LTL110), Luxembourg 0.25-0.65% (min LTL80), Poland 0.21-0.55% (min LTL70), Romania 0.55-1.2% (min LTL210), Russia 0.25-0.39% (min LTL70), Serbia 0.65-1.3% (min LTL380), Singapore 0.3-0.8% (LTL165), Slovakia 0.36-0.9% (min LTL100), Slovenia 0.75-0.95% (min LTL300), Turkey 0.3-0.8% (min LTL125), Ukraine 0.75-0.95% (min LTL50), UK 0.19-0.48% (min LTL60) |
| Typical telephone | LTL1.5-540 (~€0.5-160) |
| Telephone details | Online plus 0.2% (minimums typically LTL40 more, sometimes higher). |
| Account fees and inactivity fees | None stated |
| Custody charges for stocks | Estonia, Latvia, Lithuania 0.007-0.01%/quarter (min LTL5), Bosnia 0.13%/quarter, Bulgaria Croatia, Czech Republic, Hungary Poland, Slovakia, Slovenia, Turkey 0.08%/quarter, Georgia, Romania, Russia, Serbia, Ukraine 0.1%/quarter, other 0.04%/quarter |
| Dividend charges | None stated |
| Corporate action charges | None stated |
| Currency conversion charges | Not stated |
| Hold cash in foreign currencies | No |
| Currencies allowed | LTL |
| Tax-advantaged accounts | None |
| Other products and services | Bonds, funds |
| Minimum account size | None stated |
| Company location | Lithuania |
| Further information | Go to the Finasta website |
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