The broker offers several analytical tools for use. Among them there is a trader’s calculator, an economic calendar, a currency converter and a programme for calculating pivot points.
The FinmaxFX broker leaves many mysteries for the trader. The first thing that catches the eye is the absence of the founding date on the broker’s web resource. Third-party sites indicate that the company was registered in 2017, which means that it has been cooperating with professional traders for no more than three years. To make an informed decision about interaction with this broker, a stock speculator should understand its offers and reputation in detail.
How does the brokerage company work?
The main office of the broker is located on the territory of the Seychelles. The official website of FinmaxFX states that the firm is regulated by the Central Register of Financial Markets and proves the existence of a license with a scanned copy of the certificate of the state organization. At the same time, the check showed that the document was issued to the owner of the brokerage brand, while Finmax itself does not have the right to provide intermediary services on financial markets.
| Company name | FinmaxFX |
| Regulator | Financial Markets Regulatory Centre |
| Year of foundation | 2017 |
| Working platform | MetaTrader 5 |
| Leverage | Up to a ratio of 1:200 |
| Spreads | On most accounts from 3 points |
| Trading with Expert Advisors | Available |
| demo account | Available |
The international company offers quite a wide range of services. FinmaxFX provides access to various financial assets, including:
- Currency pairs – spreads start from 3 pips. This is a relatively simple investment instrument that is not bad for beginners.
- Stocks – allocations start from 0.03 US dollars. High-yielding securities allow you to receive dividends and earn on the difference of quotations.
- Commodity futures – spreads from $0.1. Futures contracts can be concluded on various commodity products. Forecasting of futures quotes is carried out similarly to the basic instruments. In this case, the trader has an opportunity to earn money without direct delivery of goods.
- Indices can be used for enrichment. If the speculator has a good understanding of the situation on the international exchange, he can predict the growth or fall of the index indicator.
- Cryptocurrencies have a floating spread. These investment assets are suitable for making aggressive trades. They generate large profits and provide relatively quick capital appreciation.
- Energy carriers (oil, gas, etc.) are popular commodities that are in high demand. The company offers to trade them with commissions starting from 0.005%.
- Bonds are securities with a high level of reliability. They are traded with commissions starting from 0.08 JPY.
The representatives of the brokerage company claim that their spreads are among the lowest in the market.
The broker offers several analytical tools for use. Among them there is a trader’s calculator, an economic calendar, a currency converter and a programme for calculating the pivot point. If necessary, the company’s employees will help to create an investment portfolio of financial assets with different profitability.
Several working terminals are offered for trading. The software can be downloaded to a personal computer, mobile phone or tablet. In addition, there is a web terminal, which does not require downloading. Work in the system begins after a short registration, entering a password and login.
Differences and similarities of FinmaxFX trading accounts
The broker offers a choice of several tariffs, which provide for the possibility of trading on the international market. Each account has its own peculiarities that should be taken into account when choosing one.
All offers have similar unifying points. Among them we can name transactions in the base currency (only in euros, American dollars or Russian rubles), the size of the contract (one lot) and the availability of leverage (from 1:10 to 1:200).
The differences include the size of spreads (in the VIP package it is much lower), the presence of commission charges for withdrawal (on some expensive tariffs it is absent) and the duration of withdrawal. The trader gets access to webinars with a personal analyst. The higher the starting threshold on the account, the more opportunities a stock speculator has. For Standard, Premium and VIP participants there is a deferred bonus. Accrual of bonus funds also depends on the entry threshold.
The minimum deposit is 250 American dollars. A beginner can start with this amount, and after gaining trading experience increase the deposit. To choose one of the offered tariffs, you should evaluate your financial possibilities and risks. FinmaxFX reviews will help to determine the quality of services provided. In this way, a trader can learn the truth about cooperation with the company and make a decision after weighing all the advantages and disadvantages.
FinmaxFX rating can be viewed on third-party websites. It is worth understanding that many companies call themselves ‘the best in the industry’, but this does not always coincide with the real state of affairs. It is also recommended to look through the anti-rating, search for FinmaxFX brand in the black list of brokers. Such lists include fraudsters who have been found to have cheated their clients. This way, a novice trader will bypass criminal organisations and achieve success on the global stock exchange.