A Quick Summary of FinmaxFX
FinmaxFX is a reputable broker headquartered in Vanuatu. Since its establishment in 2015, the brokerage has aimed at fully supporting global traders to simply access the forex and CFDs market.
Under the regulation of governmental and international bodies, FinmaxFX commits to building an intuitive and transparent space for trading activities and strives to protect clients from adverse impacts of the market by providing trading signals, negative balance protection, and coaching sessions with personal analysts. Accordingly, the broker has won trust from various retail traders over years.
|🕵 Broker Type||MM|
|📌 Regulated||VFSC (Vanuatu)|
|💰 Min Deposit||$250|
|💹 EUR/USD Spread||0.3 Pip|
|📈 Demo Account||Yes|
|💱 Base Currencies||EUR, USD|
|📊 Platforms||MT5, Mobile, Web|
|💎 Assets||Bonds, Commodities, Cryptos, Energies, Indices, Forex, Metals, Stock CFDs|
|📉 Hedging Allowed||Yes|
FinmaxFX Broker Details
Max Capital Limited
Afghanistan (AF), Angola (AO), Bhutan (BT), Botswana (BW), Burkina Faso (BF), Burundi (BI), Cameroon (CM), Cape Verde (CV), Central African Republic (CF), Chad (TD), China (CN), Colombia (CO), Comoros (KM), Congo, Democratic Republic (CD), Congo, People’s Republic (CG), Cote d'Ivoire (CI), Crimea and Sevastopol, Cuba (CU), Djibouti (DJ), East Timor (TL), Equatorial Guinea (GQ), Eritrea (ER), Fiji (FJ), France (FR), Guatemala (GT), Guinea (GN), Guinea-Bissau (GW), Haiti (HT), Iran (IR), Iraq (IQ), Israel (IL), Japan (JP), Kosovo (XK), Lebanon (LB), Liberia (LR), Libya (LY), Macedonia (MK), Mali (ML), Myanmar (MM), Nauru (NR), North Korea (KP), Palestine (PS), Puerto Rico (PR), Rwanda (RW), Samoa (WS), Sao Tome and Príncipe (ST), Sierra Leone (SL), Solomon Islands (SB), Somalia (SO), South Korea (KR), South Sudan (SS), Sudan (SD), Swaziland (SZ), Syria (SY), Tonga (TO), Turkey (TR), Tuvalu (TV), Uganda (UG), Ukraine (UA), United States (US), Vanuatu (VU), Wallis and Futuna (WF), Western Sahara (EH), Yemen (YE), Zimbabwe (ZW)
Market Maker (MM)
Bonds, Commodities, Cryptocurrencies, Energies, Equity Indices, Forex Pairs, Precious Metals, Stock CFDs
Bank Cards, Bank Wire, Neteller, Qiwi, Skrill, VLoad, WebMoney, Yandex Money, ePayments
MetaTrader 5 (MT5), Mobile Platform, Web Platform
License and Protection
Over five years of operation, Max Capital Limited that founded FinmaxFX has been registered and regulated by the VFSC (Vanuatu Financial Services Commission), license no. 41072, and the IFMRRC (International Financial Market Relations Regulation Center), license no. TSRF RU 0395 AA V0150. Accordingly, the brokerage adheres to anti-money laundering laws and guarantees credible services regarding forex and CFDs trading.
Furthermore, FinmaxFX also co-initiates the NAFD (National Association of Forex Dealers), thereby pledging to provide the legal over-the-counter (OTC) market for all professional practices of forex dealers and attempt to thwart monetary fraud.
To prevent clients from debt, FinmaxFX applies the Negative Balance Protection policy in case customers encounter consecutive losing trades. Transparency is one of the broker’s top priorities. Therefore, all policies (e.g. privacy or complaints handling) and fees are online published on the website. What is more, the broker keeps the client’s funds segregated from its bank account, which ensures the safety of the customer’s reserves. It comes as no surprise that FinmaxFX is certified as a trusted broker by various prestigious entities such as FX Empire or IAFT (International Association of Forex Traders) despite its young age.
The broker endeavors to well-equip traders, especially the inexperienced, with basic concepts and give detailed instructions on the technical analysis of markets via webinars with financial experts before clients enter the fray.
Support and Customer Services
Dedicated customer care staff with multilingual support is another plus of FinmaxFX. The broker offers traditional communication channels such as email (support@FiNMAXFX.com) and phone (+442080892575 in the United Kingdom). You might choose to leave personal details such as name, phone number, and appointment hours and wait for the company to call back. Also, you could send a written message in the contact form and await a response. Lastly, if you get any technical trouble, the support team is on hand from 8 AM to 8 PM GMT+3.
Platforms and Technologies
FinmaxFX has a fast-processing infrastructure and cutting-edge trading platforms that allow clients to open both demo and real accounts within a few minutes. The forex market at FinmaxFX is accessible 24/5 thanks to the availability of MetaTrader 5 and ZuluTrade. Apart from web-based and desktop versions, both platforms afford the mobile model so that traders may open a position and observe market trends even on the go.
MT5 is already integrated with technical indicators, advanced charts, trading signals, and other easy-to-use features that assist users in conducting currency transactions and navigating around the platform. Compared to its predecessor (MT4), MT5 stands out with novel functionality such as DOM (Depth of Market) that measures the trading volume of an instrument at different prices.
Meanwhile, the advent of ZuluTrade empowers traders to devise a trading strategy based on suggestions or trade settings of other successful or seasoned traders in the platform. The registration is straightforward yet requires a minimum deposit of $2,000.
Trading Accounts & Conditions
Not only is opening an account simple and speedy, but no enrollment cost is requested as well. After filling the form with personal information such as name, nationality, phone number, email address, password, and the funding currency (USD, EUR and RUB), you might then open various demo and live accounts simultaneously. In MT5, there are five types of trading accounts: Micro, Mini, Standard, Premium, and VIP as per different trade sizes and perks.
Micro accounts require at least $250 as the deposit. Other benefits include the 30% bonus for the first-time funding and webinar once a week with personal analysts.
The minimum deposit of Mini accounts is $1,000 and owners might contact their personal analysts twice a week.
Those holding Standard accounts have to finance $5,000 but can receive a 50% bonus for the first-time funding and trading signals every month.
Although the required deposit for Premium accounts is rather large, $25,000, holders obtain greater merits such as no withdrawal fees, the maximum bonus of 80%, and a three-time webinar with their financial professionals.
In a meantime, VIP users may keep in touch with their account manager and personal experts 24/7 as long as they fund accounts with at least $100,000.
Except for those differences, all account holders may approach the total 390 financial instruments offered by FinmaxFX and leverage investments up to 200 times. Traders merely pay the broker spreads that are as low as 3 pips, whilst no additional commission is needed.
For those planning to open a ZuluTrade account, the platform provides Profit Sharing suitable for beginners and Classic for experienced speculators. Traders might choose from assorted trading currencies and be entitled to augment their trading power up to 1000 times.
FinmaxFX’s newcomers are highly recommended to open all-inclusive demo accounts to see the performance of the market and test out trading plans without risking their real account balance. Similar to live accounts, traders might open as many demo accounts as they want in MT5 and ZuluTrade. The default fund and leverage ratios are respectively $100,000 and 1:200. Moreover, traders can get full access to already installed charting and indicators. However, there is no account type to choose from.
At FinmaxFX, traders have a wide selection of roughly 400 investment products that are classified into eight following categories:
- Approximately 60 fiat currency pairs including majors, minors, and exotics
- 300+ stocks from reputable companies and organizations across the globe
- Five precious metals traded against the US dollar, involving gold, silver, platinum, palladium, and copper
- Eight tradable commodity futures
- 20 top-tier share indices
- Oil (i.e. WTI and Brent) and Natural Gas
- 11 cryptocurrencies, typically Bitcoin and Ethereum
Traders might speculate on price movements of the given assets on all versions of MetaTrader 5 and ZuluTrade.
FinmaxFX provides a variety of payment solutions to facilitate the deposit and withdrawal of clients. Traditional payout methods range from credit/ debit cards (merely Visa and Mastercard are allowed) and wire transfer. In addition, FinmaxFX also enables several popular digital wallets as follows:
- Qiwi Wallet
- Yandex Money
Financing the live account is instantly processed and charges no fees. Meanwhile, withdrawal could take a few working days for processing after your trading account is validated. Depending on payment methods, withdrawal fees would vary. Apart from those charges, however, payment providers might impose some transaction fees or currency conversion and spend extra business days to deliver profits to your bank account.
Growth and Development
Since its debut in 2015, FinmaxFX has experienced consistent growth to become a trustworthy forex and CFDs dealer. The brand complies with strict legislation to deliver traders a dependable trading environment and extend to more secure payment solutions. Additionally, the broker has lately formed a close association with ZuluTrade to improve the trading practices of speculators.
Education and Training
FinmaxFX academically supports clients with training sessions via webinars with financial experts. Even right after successfully registering for an account, new traders would be directly connected to personal analysts for further discussions about their trading plans.
For those who know nothing about the market, educational resources available on the website could prepare them for fundamentals. When being adequately informed, they might reach the Analytics page where they would learn from technical analyses performed by experts.
Offers and Promotions
FinmaxFX develops compelling promotions for different types of account holders. Accordingly, the larger the trade size, the better offers are given. Besides, the brokerage launches the affiliate program that encourages cooperation with potential partners by attractive bonuses.
Among the best forex and CFDs dealers, FinmaxFX has become better-known for its reputation and attempts to create a beneficial trading space for traders.
Optimal trading conditions at FinmaxFX are tellingly a diverse asset portfolio, narrow spreads, no commission fees, transparent policies, negative balance protection, and flexible leverage ratios. Admittedly, two trading platforms, MT5 and ZuluTrade, offer essential tools to manage risks and track market movements, in addition to weekly coaching with financial professionals.
The presence of a professional and caring support team leaves a lasting impression on clients.
Therefore, FinmaxFX has been trusted by various traders over years and sought to enhance services regarding forex and CFDs trading.