Finmax supports a lot of ways for depositing and withdrawing your money. You can use debit/credit cards, bank transfer (wire transfer) and a lot of the most popular e-wallets (Neteller, Qiwi Wallet, Webmoney and etc.). In order to withdraw your money you will have to supply the support team with all the necessary documents proving your id and address before they confirm your transaction. This is done for the sake of security and in compliance of anti money laundering laws.
Trading Instruments
As you see in the upper picture the market only can go in 2 different ways and there is only the possibility to make a loss or a win. Sometimes the profit depends on the asset and the expiry time of the trade. The broker offers https://traderoom.info/ you to practice this financial product in the demo account or give you a risk-free trade. Another important point for traders is charting and functions. The trading platform should be the best tool for your analysis.
Open your demo account with Finmax
Traders can also choose the currency denomination for their trades, allowing them to manage their trading accounts in their preferred currency. It is important to note that currency exchange rates may affect the value of profits and losses in different currency denominations. Finmax FX currently has a 2-star rating on Trustpilot based on 31 customer reviews.
- With a higher account type, it is possible to get faster withdrawals (24 hours).
- This means that Finmax users don’t need to worry about their money since it is segregated and safely stored in banks that are established.
- It is the right place for scamming beginners in the markets.
- That section could be expanded though, as there aren’t too many questions there.
- The minimum deposit amount is $250 or its equivalent in another currency.
Is Finmax Legit Or Scam?
Using the platform, traders will have access to a broad array of trading information like charts, choice of assets, account history, as well as trading parameters. The broker provides users with advanced charting tools that allow them to execute a broad array of technical and fundamental analysis of markets. Besides this, Finmax’s web-based trading platform also features an inbuilt app known as “Social Radar.” Social Radar provides traders with social trading capabilities. Users can view the most successful traders on the platform and replicate their trading moves using the software. Other instruments available on the platform include economic calendar, daily analytics, etc. Moreover, Finmax FX’s trading platforms are user-friendly and feature advanced tools, such as charting and technical indicators, and mobile apps for trading on the go.
Finmax offers trading using only its own proprietary trading platform. The platform is also compatible with mobile devices operating iOS, Windows Mobile, and Android. Finmax offers Bitcoin trading and they have it on a standard binary option. This means you can trade short-term high/low and above/below binary options with limited risk and pre-set payouts.
Finmax FX provides a safe trading environment, with its clients’ data fully encrypted using the Advanced Encryption Standards (AES). The broker finmax review also offers fund segregation and Negative Balance Protection. I am trying to reach them from 2 weeks but no response or resolution from them.
Although we agree that the demo account is one of the main benefits of the Finmax platform, we did find it a bit limiting. However, Finmax reports that traders will be able to trade these instruments on the demo account sometime soon. Take note that FINMAX only offers customer support from 8 in the morning to 8 in the evening (GMT +3). 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.
Even though Finmax provide you all of the tools to make money, they can’t guarantee that you will profit. Over 10,000+ users registered with them can affirm to their trustworthy nature. Finmax is a legit company headquarted in Bulgaria since 2008. They are regulated by Financial Services Authority (FSA). Finmax is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
FINMAX allows Indian traders to open accounts and trade. However, FINMAX has no mention of complying with any Indian regulators on its website. Here you can find the Best Forex Trading Platform in India for you. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. You have to make the right forecast for an asset to get a payout on a certain time horizon.
The Finmax phone support team were able to successfuly answer our questions and concerns over the phone. We tested the multilingual Finmax team by calling them in various languages. Finmax made an effort to make sure all of our questions were answered. Understand the trading resources available with Finmax, Startrader & freetrade below. Understand the capabilities of the mobile apps of Finmax, Startrader & freetrade below. Withdrawal of cash is possible at any time from the Finmax account.
Regardless of whether you are a novice or an experienced trader, Finmax FX offers the necessary resources and tools to help you succeed in the markets. With a focus on client protection and education, the broker has created a trading environment that is both secure and supportive. Opening a silver account requires a minimum deposit of $1000. You can get up to 50% of your deposit as a bonus as well as a risk free trade of up to 25% of your deposited amount. This account type gives you access to a personal account manager and 1 month access to trading signals. Withdrawals on this account type are processed within 48 hours.