Finmax Review: What is it about?
Finmax is an online trading broker. Launched in 2015, it is risen in ranks to become one of the leading online brokers in the trading market. The platform offers a variety of trading options including CFDs, FX, Cryptocurrency and Binary Options.
The platform is run by a team of market experts which have been brought together for the sole purpose of providing a feasible trading environment to all types of traders, whether they are absolutely new to the game or they have been trading for a long time, there is something for everyone here.
The website is owned by Max Capital Limited which is a Vanuatu-based company. This company is regulated by Vanuatu Financial Services Commission (VFSC) and the IFMRRC under the license number TSRF RU 0395 AA V0150. The financial operations, however, are owned by Gatelinas, UAB, which is a Luthuanian-based company.
Finmax is a platform which provides a wide variety of trading facilities. It provides traders with over 75 assets which enable them to trade in indices, equities and currency pairs. It also provides them with access to trade at major financial markets all around the world. It provides options with expiry times ranging from 30 seconds to one year. Finmax provides access to the leading financial markets with one of the best software platforms present in the market today.
This Finmax broker review will tell you the biggest advantage of Finmax over other brokerage platforms which is its educational system it provides to the traders. It provides a series of e-books, videos and regularly conducted webinars to its customers, which educate them on the basics as well as the newest trends present in the financial markets. These studies help the traders in conducting successful trading and make their business profitable and worthwhile. The platform also provides necessary charts, analytical tools, economic calendar and market reviews to better equip their traders for better handling their trades.
Finmax Broker Review: Why choose Finmax?
Finmax have implemented an outstanding trading environment with a well-responsive platform, well organized options and easy-to-use interface with helpful buttons all around. It is very intuitive in its layout and is way better the old linear platform which could fit on the screen of a phone and where things are hard to keep track. This platform provides a better-than-average experience in trading. TradingView provides their advanced charts which provide better technical knowledge and assistance during trading sessions. They also organize weekly webinars and their website has the latest trading and financial news on their platform so that the traders are up to date on what is happening in the trading industry.
It also provides the customers with complete transparency on all their transactions and trading and all the traders are in full control of their trading account. They also ensure the complete security of the customer accounts. The platform has implemented all the advanced security checks which helps them keep the information and money of their clients safe from external attacks. Security is a must where money is involved and the Finmax team recognizes this necessity and has ensured everything to make the platform a place where traders do not worry about their safety and focus all of their strength towards trading.
One more huge advantage of this broker over the others is its user experience. The platform has been designed to give individual care to each and every type of account. There are different types of accounts which we will discuss in a latter section. These different types of accounts enjoy different technical advantages, which is to be expected. But the customer support and help do not differ for different types of account. Everyone enjoys the same level of dedication and response from the support team and there is individual service present for each client. This makes it easier to trade for anyone involved, because it does not matter if you have previous experience in trading or not, the platform and its team will help you through each and every step and will ensure that you will learn and earn along the way.
Design and Features
Finmax recognizes the importance of a healthy professional relationship with their clients. In this regard they have implemented a different kind of approach than most other trading platforms. Their main focus is the clinet. The trading platform is provided by TradeSmarter and it is an interface which fills the entire screen. They provide extra attention to the things that really matter to the traders i.e. charts. Being an online platform, it still provides with a lot of handy features from different downloadable platform like the ability to change time frames, candlestick charts and to apply different indicators including Moving Average, Bollinger Bands and MACD. They also offer Advanced Charts which are provided by TradingView which will help you with anything you might not see in the above-mentioned charts ad features.
One minor hiccup is the fact that this platform only allows you to trade in Binary Options and if you want to trade FX or CFDs you will need a new account on their CFD/FX platform. But this is overshadowed by the fact that CFDs are offered by Meta Trader 5, which is the most advanced and popular trading platform at this time. This fact alone makes up for the minor inconvenience.
Finmax Login: Accounts
You can get a Finmax demo account without much hassle but getting a proper Finmax trading account is completely worth it.
There are four different trading account types that you can choose from. Them being Bronze, Silver, Gold and Platinum VIP. Each account requires you to make a different amount of deposit with the broker and in return they provide you with different technical and usage advantages. The account structure is also very well balanced.
The bronze account can be opened using a minimum deposit of $250. There is a 25% welcome bonus for every new bronze account that is opened.
A silver account will require you to make a deposit of $1000 with the broker but will also offer you a 50% welcome bonus. The silver account will also offer you an initial risk-free trade of up to 25% of the deposit made.
You can open a gold account for yourself with a deposit of $5000 and you will receive a 75% welcome bonus whenever you open a new gold account. Another major advantage is that a 2% bonus is added to the standard trades that you win with this type of account. This bonus is added at the time of the payouts.
The Platinum account can be opened with a larger deposit of $25,000. A 100% welcome bonus is provided and a 4% bonus is added to every standard trade winning and is added at the time of the payout. The platinum account holders also enjoy a number of other advantages as well.
A VIP account can be opened with a deposit of $100,000. It enjoys all the above-mentioned features but it also provides the customer with two senior dedicated market analysts to assist them in their trades as well as a 6% bonus on their standard trade wins at the time of the payout. You will also enjoy access to all of the VIP webinars as well.
It must be kept in mind that these advantages are well worth the extra price that has to be paid to avail them. These include higher bonuses on payouts, webinars and educational materials, better training tools, trading signals and indicators as well as market news and analysis on a daily basis. Another major advantage of getting either a gold or a higher deposit account is that payment withdrawals only take 24 hours to process.
One note worthy feature of finmax broker is that unlike other binary options trading platforms, finmax binary trading platform will offer you a free demo account which is are rare for a platform offering binary options trading. This will enable you to trade risk-free for a week.
Finmax Assets Review
Finmax offers over 75 different types of assets and payouts up to 90%. Trading can be done 24/5 via a computer or a smartphone.
The choice of finmax binary trading options is not large. It provides with high/low and above/below options only. High/low means whether the price of the option touches that level before expiry whereas above/below deals with the location of the price at the expiry date. These are the criteria which will determine whether you won or lost the trade with that option.
Finmax trading broker offers trading in 30 different stocks, 14 stock indices, 25 forex currency pairs and 8 commodities. The platform has also introduced trading using the cryptocurrencies. Cryptocurrencies are the new big things in the financial markets these days. Currencies like Bitcoin and Altcoin have gained tremendous amount of popularity during the years and are seeing all time highs during these times as all of the world has shifted to an online business structure due to the global pandemic and lockdowns. The cryptocurrency options are not limited to Bitcoin only as you can trade in Litecoin, Ripple, Dash, EOS, Ethereum and a few pairs as well.
Finmax allows for a maximum one-time deposit of $50,000 and a minimum of $5, which is a large range and allows a number of different individuals and trading groups to trade depending upon their range of affordability. However, you can risk an amount more that $50,000 in a day. All you have to do is buy another option of $50,000 after you have bought one already.
Finmax finance education material and webinars provide the users with different proven trading strategies in assisting their businesses. An up-to-date economic calendar is provided as well as an Advanced Charts page, which is used solely for analysis purposes.
The platform uses up-to-date and advance software which is compatible with Windows, Windows phones, iOS and Android alike.
Finmax Finance Education and Analysis Tools
Finmax provides its users with a wide variety of financial education materials and analysis tools to help them come up with their very own trading strategy and plans which will better suit their timing and style. The educational material provides them with courses with different aspects of trading including trading psychology and different well explained trading strategies. These are complete guide to following certain strategies in a step-by-step structure, explanation of rules and pictures for better understanding.
Finmax Bonuses and Promotions
Finmax offers various bonuses across the board. Whether you are a new client, you have a low deposit account or a VIP account, there is something for everybody. Finmax offers a welcome bonus to every customer who signs up and logs into their new account and if you enter open a gold or a higher bracket account, you will receive a bonus on each and every trade that is won.
Finmax also offers a risk-free initial trade to all the news clients who join the platform. A maximum of $1000 can be risked in this trade but the return is proportional to the total amount that is deposited.
Customers also receive deposit bonuses which are also proportional to the amounts being deposited in the accounts. This can be checked from the “Accounts” page on the website.
We should keep in mind that these bonuses can be changed during a revision of their bonus policy. However, all the bonuses are according to the industry standards and are quite generous as well. The exact volume depends upon the type of account that you possess however, it is advised to contact a representative before accepting a bonus.
Finmax Deposits and Withdrawals
Deposits can be made easily using a debit or a credit card. All the transactions made are completely transparent and can be checked and recorded. The deposits made are completely secure thanks to their advance security measures employed for the safety of their clients’ money.
Normally the withdrawals can take up to 7-10 working days but this process can be reduced to a mere 24 hours when you have access to a higher tier account like gold or platinum.
Owing to the uncertainty around many of the online brokerage site, the questions arises that is finmax a scam? The short answer is NO, but we will discuss this in detail shortly.
The minimum deposit that can be made is $250 or the equivalent amount in any other currency. Along with the bank cards, deposits can also be made using Qiwi Wallet, WebMoney, Yandex Money and Perfect Money.
The withdrawal process is also the same as the deposit process but keep in mind that the withdrawals can only be made to the accounts and credit cards that were used to make the deposits. This is done to ensure security.
A copy of identification documents is required to keep the transaction as safe as possible. These requirements are in compliance with the anti-money laundering policy of the trading platform to make sure that their platform is not involved in any kind of criminal activity. This is important for the safety of the individuals using the platform as well as the finmax authorities.
Finmax Customer Support Review
Finmax offers a fast and responsive customer support to all its clients. Customer support is maintained in Bulgaria, Australia, Canada, Cyprus and the U.K.
Traders can also contact a representative using a telephone or Skype during the working hours or they can use an email during anytime of the day and can expect a response early if the mail is sent during working days.
There is also a live chat feature present on the platform which is very useful. The representatives present there are very fast and responsive to any type of query made there. They are very polite as well, so that’s a plus.
Is Finmax a scam? Regulations and Complaints
This is a very important question in trading market owing to the fact that there are many scam websites all over the internet. So, there might have been a higher possibility of finmax being a scam as well but the evidence and user reviews prove that the situation is actually on the contrary.
Finmax is regulated by VFSC and IFMRRC, which not be the fiercest watch dogs but they do have good track record of delivery a good performance and keeping companies in check. Nonetheless, finmax enjoys a good reputation across the board. So, the chances of finmax being a scam drop significantly with this logic alone.
On the other hand, there are dozens of positive finmax reviews from its users all around the world. Many online user reviews use words like “good experience”, “friendly broker”, “enthusiastic and proficient” and “cool site”. These words are definitely never used to describe a website that scammed them into giving them money with fake promises.
Finmax has been around since 2015 so it is not a very new broker and the absence of any type of criminal activity or complaints registered anywhere against the website proves the fact is that Finmax has been doing a good job providing a positive and satisfactory experience to all their clients.
In shorts, Finmax is not a scam. There is room for improvement, no doubt about that, but there is always room for improvement in almost every online trading broker out there and Finmax is doing a very good job of meeting up to the expectation of its clients. Dozens of online finmax broker reviews and testimonials will help and guide you on your way to choose the best platform suited for your business and there is a good chance that you will end up on finmax sign in page after getting yourself a brand-new account.