However, this does not mean that online brokers don’t charge any fees. They charge fees of varying rates for a variety of services to earn money. These figures have rules that ensure https://traderoom.info/finmax-overview/ that trading platforms have measures in place to maintain investor’s assets secured.

Therefore trading is brought closer to your home and you can trade easily wherever you are. Customer support is maintained in the U.K., Bulgaria, Cyprus, Australia and Canada. Traders can contact a Finmax representative by telephone or skype during working hours and can use email anytime of the day. A fairly wide range of up to date market analysis is also offered. Payoneer has a customer care team with 320 employees who support 4 million customers in 70 languages, operating in 150 different currencies.

You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. You have to keep in mind that PayPal isn’t available in every place. The monies Finmax accepts for deposit are USD, GBP, AUD, EUR, NZD, CHF, ZAR, SGD, JPY, CAD. The Finmax phone support team were able to successfuly answer our questions and concerns on the phone. We tried the multi-lingual Finmax team by making calls in various languages.

Unlimited access to trading signals, economic calendar, daily analytics, market reviews, technical and fundamental analysis are also available. Though average users won’t encounter many unanticipated problems due to the known sturdiness of MT5, it’s always nice to know that there’s a team waiting in the wings to help traders bypass difficulties. Russian owned and operated, this broker is regulated by two agencies, the IFMRRC and VFSC. These are the Financial Market Regulation Center and the Vanuatu Financial Services Commission, respectively.

The accounts include bronze, silver, Gold, Platinum and VIP. The company has highlighted the different features of the accounts on their website. As such clients are well informed of the different accounts and the best to invest in. The FinMax trading platform also comes with built-in functionality for “social trading” called “social radar” on the platform. This allows traders to automatically copy the trades made by other more experienced traders, which helps everyone become successful regardless of their level of experience. The platform comes with an inbuilt, unique app called “Social Radar”, which adds a social trading element to the Finmax experience.

Which live trading accounts does FinmaxFX offer?

They are popular, because they offer more than 70 assets while minimizing risk and maximizing on profits. The Finmax website offers a wide choice of educational material. There are a range of videos on several topics including trading psychology and options trading strategies, as well as a platform overview and binary e-book. This section of the site also includes five illustrated trading strategies, most of which incorporate candlestick chart analysis. The webinars on offer are restricted to clients with live accounts. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence.

Company

Similarly, customer support availability is marketed as broad, but the effectiveness and responsiveness of this service are crucial and frequently unproven. “Finmax” claims to be a binary options broker situated in Sofia, Bulgaria, with a Seychelles license that has been functioning since 2016. I only deposited $1000 into their account and started trading during the pandemic as I had lost my job and wanted to see what their service was like. I lost most of my money through bad investents which is totally my responsibility. However, their spreads are too big and the amount of money you can make is limited by this.

Broker is definitely not a scum

Finmax protects its clients‘ personal and sensitive information under SSL encryption. Your funds will be retained highly secure in top-tier banks. The overall average of email support provided by Finmax was excellent. We tried communicating through Finmax support in a variety of languages across multiple countries. Understand the trading resources available with Finmax, Startrader & freetrade below. Understand the capabilities of the mobile apps of Finmax, Startrader & freetrade below.

1. In the client area the first thing to see is your accounts aligned in different tabs, each with a visible available balance, relevant trading conditions like active leverage and more.
2. From our experience, most binary brokers, especially those who make their first steps, use a ready-made platform developed by a third party.The Finmax platform makes trading look easy.
3. You can then enter the Personal Dashboard without validating, though if you want to verify your identity, deposit, and trade in live markets you must do so.
4. Finmax is a relatively new binary options trading broker that were founded in 2015.
5. There is no irregular withdrawal, once the bonus is accepted, and traders have to fulfill trading volume completely before requesting one.
6. Therefore, this proves that the broker is not only interested in having your money but also in making sure you benefit from trading.

Clients’ data is also protected using the Advanced Encryption Standards (AES). The broker also offers fund segregation and Negative Balance Protection. This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable. The process to open an account can be started from links on the company homepage and involve five easy steps.

1. Finmax has over 99 trading instruments to support all kinds of traders.
2. The broker’s strategy includes appealing bonuses and promotions, which may be used to divert attention away from the fundamental risks and realities of binary options trading.
3. The emphasis on short to lengthy expiry durations, along with the allure of huge payments for higher-tier account holders, raises worries about the possibility of misleading traders.
4. Depending on your account type, you will be charged a withdrawal fee or not.

I guess Finmax sold the data from their own clients or have a very poor data protection. The website has become inaccessible in the last couple of days. FinmaxFX is overseen by not one, but two regulatory agencies with a history of fair and focused enforcement. The first is the Financial Market Regulation Center (IFMRRC) of Russia, which is where the broker and its holding company originate. The Vanuatu Financial Services Commission (VFSC) has FinmaxFX in its regulatory line of sight to ensure compliance with its rules as well. Accordingly, the broker capably serves over 100 jurisdictions in a structured and authorized manner.

The highlight of this platform is its fast order execution on transactions. Finmax is a legit company headquarted in Bulgaria since 2008. Finmax is an acclaimed fintech company, which operates with transparency.