Finmax: Review and real traders’ opinions 2024

finmax broker

This is not as great as 24/7 customer service, but at least the website is clear about the matter. Support was not present while I was researching this broker, so I did not have a chance to test the team. Thankfully, the resources on the site were comprehensive enough to answer most of my questions. Along with the resources which I have already discussed, FINMAX provides an economic calendar, market reviews, fundamental and technical analysis, and social trading.

Bonuses and Promotions

TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so. Scammers like Finmax tend to purchase fake reviews for their online profiles to make themselves seem more credible. However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.

finmax broker

Opening an account

  1. The catch however is that you’ll have to forfeit the bonus amount plus any profits earned trading with the bonus.
  2. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.
  3. That means if you make a loss, you get it paid back by the broker.
  4. If you choose to open a Finmax account you will need to choose among 4 different account types.
  5. No matter how much the market moves, the price only has to be higher or lower than your entry point.

Here is where you’ll upload a passport photo to FinmaxFX (fully private and protected) to verify your identity and the deposits and withdrawals of your preferred payment method. After you’re verified you can deposit by clicking the Add Funds button in your account tab on the Dashboard. Also front and center on the Dashboard is the button to launch the trading platform, which is set to Web by default. Click on it to see FinmaxFX’s web version of the MT5, which launches immediately inside the browser.

Distinctive features

The fact that they support seven different languages on their website is amazing as only top brokers offer that. Before you contact them, be sure to look through the FAQ’s, as your question might already be answered there. That section could be expanded though,  as there aren’t too many questions there. Depending on the method you choose, your deposited amount should take anything between a few minutes to several days to reflect on your trader account.

The broker allows trade in currency pairs, shares, indices and commodities. With this tool, you have the rare opportunity of joining the financial market without having real capital and increased leverage for profits. In addition, unlike other brokers, FINMAX does not charge a commission for using CFD Trading tools. Therefore, this proves that the broker is not only interested in having your money but also in making sure you benefit from trading.

finmax broker

With a focus on client protection and education, the broker has created a trading environment that is both secure and supportive. The team ensures the broker’s clients access high-quality services and support. The broker also provides its employees with opportunities for career growth and development. For any trader, however, the quality of trading tools is a more relevant variable for their choice of membership, and FinmaxFX satisfies in this regard. A great customer service experience is central to any trader’s daily success as well, and users can appreciate that FinmaxFX’s support team performs well and responds quickly. Opening a silver account requires a minimum deposit of $1000.

It’s an easy to use browser based software used by several online trading platforms. Despite being browser based, the TradeSmarter software also allows you to trade using a mobile device. Use the same payment method as your deposit for the withdrawal. In my test, the withdrawal takes only 48 hours to process.

With a higher account type, it is possible to get faster withdrawals (24 hours). In conclusion, the withdrawals with Finmax are very easy to do and with a Bronze account, you do not pay any fees at your first withdrawal. The Broker says that they provide the best service for their clients. Traders can bet on their platform with different financial products on rising or falling markets.

Read more about the conditions for traders in this review. Depositing funds into a Finmax account is an easy and secure process. The minimum deposit amount is $250 or its equivalent in another currency. Funding can be done using credit and debit cards–Visa and MasterCard, as well as Qiwi Wallet and WebMoney.

Every depositing trader is entitled to a risk free trade, which can get as high as $1000. You should know that this trade is only valid for your first trade if it ends out of the money. In that case, your lost money is returned back to your account. The broker also offers a deposit bonus system that is based on the type of your account. Combined with the social trading feature on the platform, these trading strategies even offer a simple avenue for becoming a reliable forex signal provider without much hassle.

Also, the minimum investment of a trade is very low by 5$ too. Is Finmax a scam or a reliable broker for Binary Options and Forex/CFD? – Sometimes it is hard to find a good broker because the best selection of brokers is quite large. In this review, I will have an accurate at the broker Finmax.

Also, you should see if the positive reviews share any detailed information about their experience with the firm or not. “Finmax” advertises its mobile trading capabilities as an example of technological innovation and trader convenience. However, the utility and security of trading on mobile platforms, particularly with a broker of questionable validity, are controversial. As a generous offer to new clients, FinMax will add a bonus of up to 100% of an initial deposit into a trading account that has been set up with them. Forex broker offers the following underlying assets for Binary Options trading.

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates. Although FinmaxFX is rated highly by some customers in personal online reviews, there is no information available on the FinmaxFX homepage about any awards received. In the world of forex broker companies, it counts much for the company’s reputation if it has been honored with awards from esteemed organizations or publications.