Finmax Guide – Read our In-Depth Finmax Review
Finmax Rating: 3.17 / 10
Our proprietary rating algorithm takes all of our datapoints to generate the rating. This keeps things fair and removes human bias to ensure that our users can compare brokers easily and find the best ones.
This Finmax review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Finmax review does not apply to users in BR, KR, IR, IQ, SY, JP, US
If you're a new entrant in the world of trading and broker, so many details will be confusing for you. Getting into the world of trading requires expert analyzing skills and comprehensive knowledge. You will get proficient at all of the concepts of brokerage as you continue trading. For starters, you need to choose the right broker who will be transparent with you always.
In this fast-paced world of stock markets and trading, you will need guidance to make proper decisions. A professionally lead investment program will create hefty returns. Finmax is one such platform that will take you along with your investment into great heights. It's crucial to understand about Finmax until you trust them with your cash.
Finmax Review – Quick Summary
Finmax Telephone Number:
Finmax Email Address:
Financial Services Authority (FSA)
Number Of Clients:
10,000+ Finmax users and traders
Finmax Facebook Likes:
Finmax Twitter Followers:
Finmax Instagram Followers:
Your capital is at risk
|Finmax Telephone Number:|
|Finmax Email Address:|
|Regulated By:||Financial Services Authority (FSA)|
|Number Of Clients:||10,000+ Finmax users and traders|
|Finmax Facebook Likes:||0|
|Finmax Twitter Followers:||0|
|Finmax Instagram Followers:||0|
Your capital is at risk
Our full Finmax Review covers everything you need to learn about trading using Finmax. A fantastic agent can multiply your first investments and provide you positive profits. If you want to make profits, you must trade with a broker service that contrasts with your investment objectives.
There is no sure-fire way to guarantee profits; therefore, you must carefully analyze your agent before you select them. It is a common misconception that all agents are the same, but that is not correct. Wrong judgment, initially, can set your investments at risk.
Finmax is a broker which has found its way successfully to the brokerage world. In this review, we've tried to collate a number of the vital aspects of Finmax. This review can help you to know whether Finmax is a good match for your own investments or not. We've tried to breakdown all the features and fees for your convenience.
Finmax Review, Table Of Contents
- Who are Finmax?
- Benefits Of Trading With Finmax
- Everything you should know about trading with Finmax
- Is Finmax Safe To Trade With?
- Finmax Risk Disclaimer
- Pro's & Con's Of Trading With Finmax
- Compare Brokers Similar To Finmax
- Regulation And Licencing In More Detail
- Finmax Awards
- Minimum Deposit Required For A Live Account With Finmax
- Finmax Commission And Fees Explained
- Compare broker fees against Finmax
- Finmax Withdrawal Fees Explained
- Finmax Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Finmax?
- Alternatives To Finmax
- Frequently Asked Questions About Finmax
Who are Finmax?
Finmax is a forex broker headquartered in Bulgaria and provides a range of tools for trading. Since its establishment in 2008, Finmax has emerged as a top player in the field of online brokerage. Finmax has an extremely aggressive and full-featured trading website that is focused on forex, indices, metals, stocks and commodities.
Over the past 13 years, Finmax has grown into one of the leading online brokers.
After launching in 2008, their client base has become as big as 10,000+ clients.
Finmax is the favourite of many traders.. Our Finmax review found that they're an superb choice for automated trading solutions. It is most appropriate for investors who are searching for a variety of assets. Social and automated trading solutions are the heart at Finmax.
Technology plays a substantial role in Finmax. Finmax features trading on MT4,MT5. Finmax is honest, transparent, and a well-regulated agent by the Financial Services Authority (FSA). Their outstanding array of tools will be beneficial for the majority of traders. Third-party partnerships also supply in-house research.
The trader resource section at Finmax is quite insightful for new traders as it permits them to have a closer look at the financial markets. Finmax caters to all sorts of traders and are a must-have broker for any well-diversified method of trading.
If you feel that Finmax is not right for you then at the bottom of this Finmax review you wil find a lot of alternatives to Finmax.
What you ought to know about trading with Finmax
Finmax is a dynamic platform that offers various procedures of trading. These tools cover the monetary markets considerably. Most of the broker platforms provide less approaches than Finmax
If you wish to exchange with Finmax, you will need a minimum deposit of $0. This deposit is mandatory if you wish to begin trading using Finmax. This 2021 Finmax review will guide you easily about trading with them.
Finmax is as versatile as any other broker platform. Finmax is ideal for traders who want a manageable assortment of low-cost services. The platforms supplied by Finmax are third party, white-label offerings. All traders can pick out of MT4,MT5.
Along with everything, Finmax has multiple benefits to new and verteran traders and should be investigated. There is no minimum time over which a trade has to be kept available. The agents provide premium client service which rewards customers with benefits.
Many unprofessional brokers attempt to pressurise consumers into bigger funding for superior services. Finmax, on the other hand, is more focused on trading volume. Dealers can expect trading conditions to be fair, honest and transparent. The more lots traded by the consumer, the further benefits will come along.
Finmax accounts are available all over the world and provides quality service everywhere they have customers. There are some select few countries where Finmax accounts are not available. Traders in the following countries cannot open or use a Finmax account:
BR, KR, IR, IQ, SY, JP, US
Is Finmax Safe To Trade With?
Established in 2008, Finmax has been in operation for 13 years, they have a head office in Bulgaria.
Finmax is regulated by Financial Services Authority (FSA). These figures have rules that make sure that trading platforms have measures in place to maintain investor's assets secured. This means that Finmax users do not need to be worried about their money as it is segregated and safely stored in banks that are established. SSL encryption simplifies each user's personal information also.
You can make use of an option for Two Factor Authentications (2FA) with Finmax for heightened security. An SMS with the verification code will be sent to a mobile phone. You'll be required to enter this code to log in to your accounts.
Another concern with financial brokers is in respect to safety may be manipulation of trading. This is highly disadvantageous for users on these platforms. Nonetheless, this is much more widespread in the example of Market Maker brokers who compete with customers on the platform.
Finmax Risk Disclaimer
Your capital is at risk
Pro's & Con's Of Trading With Finmax
Every online trading platform has some ups and downs, and no Finmax review would be complete without having a balanced approach. This Finmax review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- Finmax is trusted by 10,000+ clients
- Finmax has low minimum deposit requirements
- Finmax doesn't charge withdrawal fees
- Finmax doesn't charge deposit fees
- Finmax doesn't charge CFD fees
- Finmax offer trading on MT4,MT5
- Finmax offer 99 trading instruments
- Finmax trades major forex pairs
- Finmax trades exotic forex pairs
- Finmax offers trading on cryptocurrencies
- Finmax can communicate in English, and Chinese
- Finmax does not offer Negative Balance Protection
- Finmax does not offer Guaranteed Stop Loss
- Finmax charge inactivity fees
- Finmax doesn't trade minor forex pairs
- Finmax doesn't offer social trading
- Finmax doesn't offer copy trading
- Finmax doesn't offer trailing stop
Finmax Review - Compare Brokers Similar To Finmax
|Rating||3.17 / 10||4.2 / 10||5.5 / 10||2.8 / 10|
|Regulated By||Financial Services Authority (FSA)||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F243||Cyprus Securities and Exchange Commission (CySEC)||Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F253|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Your capital is at risk|
Finmax Review - Regulation And Licencing In More Detail
Finmax is regulated by Financial Services Authority (FSA).
Finmax, as a company, has a strong set of rules for ensuring honest trading on its platform. For data encryption functions, it provides an industry-standard secure socket layer (SSL).
As per the organization's privacy regulations, client data is to not be shared with any other institutions or individuals. This includes credit history and other financial information.
Finmax Review - AwardsAt the time of writing this Finmax review, and despite Finmax’s impressive offering, the company has surprisingly not garnered any other awards to date.
Finmax Trading Platforms
Finmax are a trustworthy broker that has been trading for over 13 years. They offer a wide range of options in their user accounts.
In the following table we take the main parts of any reputable online trading platform and compare Finmax with fxglobe, Windsor Brokers, and henyep
Finmax Review - Minimum Deposit Required
The minimum deposit you need to get started on Finmax is $0. This is an adequate amount for people just beginning. You can create more complex residue as you go along. But, ensure you understand how to make the most of your cash before investing larger sums.
Finmax Review - Commission And Fees Explained
Finmax is an online broker platform, and many online brokerages charge lower prices than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled much better. In other words, an internet broker is not necessarily affected by the number of customers they have.
However, this does not mean that online brokers do not charge any fees. They charge prices of varying rates for various services to make money. There are primarily three types of penalties for this objective.
The first kind of charges to look out for are trading fees. Whenever you make an actual trade, like purchasing a stock or an ETF, you are billed trading fees. In these instances, you're paying a spread, financing rate, or a commission. The sorts of trading fees and the prices differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread denotes the gap between the buying and selling price. Funding or overnight rates are those that are billed when you hold a leveraged position for longer than daily.
Apart from trading fees, online brokers also bill non-trading fees. These are determined by the activities you undertake in your account. They're charged for services like depositing money, not investing for long periods, or withdrawals.
Generally, Finmax doesn't charge high fees compared to other online brokers. For operations other agents charge for, they either do not charge a brokerage fee, or they charge a lesser sum. This is beneficial for those who often trade, such as daily or weekly trading.
However, non-trading fees charged by Finmax are comparatively greater. Consequently, you're charged more for non-trading activities on your trading account, like deposits and withdrawal. These aren't related to the purchase and sale of resources.
This Finmax review breaks down every one of the applicable non-trading fees for you in detail.
Compare broker fees against Finmax
Finmax Review - Withdrawal Fees ExplainedFinmax doesn't charge withdrawal fees
Withdrawal of money is possible at any moment from the Finmax account. You can draw up sums to the amount of your account balance, keeping aside the margin utilized. 1 thing to keep in mind is that you don't necessarily need to have any money on your account.
In addition, the withdrawn money will be transferred directly to the account you use to create deposits. Therefore, if you used a credit card for deposits, the withdrawn money is going to be sent into the card. Finmax will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In case you're withdrawing money in different currencies from USD, a conversion fee is also important. The conversion fee will be dependent on the currency you are opting to draw in.
Finmax Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of those buzzing questions which run through your head while open an account with Finmax. An inactivity fee is an amount charged to registered dealers that haven't engaged in purchasing or selling for a while. The period considered inactive is decided by the agent.
The inactivity fee differs from 1 broker to another and is not standardized. If a dealers account does not have a purchasing or selling transaction, it is maintained by the broker as an inactivity fee. The traders have to pay this fee under terms and conditions they had agreed while registering.
Finmax charges an inactivity fee if you don't make any trades for a while.
Even if no charges are implied by Finmax, it's better for you to close the account if you are inactive. Inactivity fees are not only charged by brokerage companies but also many financial services.
For other trading platforms, the inactivity fee depends on the sort of account you have chosen. The inactivity fee is exposed to many circumstances and needs to be disclosed clearly by the broker beforehand.
Finmax Review - Deposit Fees Explained
When you move money into your trading account from the bank account, a deposit fee can be charged by the broker. Most agents do not charge too much money for this operation.
Finmax doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the Finmax trading platform is easy. You simply need to complete a single-user profile questionnaire to begin depositing money into your trading account. You'll need to provide an identity proof and proof of residency to deposit large amounts.
Finmax Review - Compare Broker Deposit Methods
What Can You Trade With Finmax?
Note: Finmax provides a lot of different trading instruments due to regulatory restrictions in various countries. Trading instruments offered will be different based on the country of residence of the client.
Finmax has a wide variety of over 99 instruments available for you to trade with.
If trading forex pairs is of interest to you then Finmax offer over currency pairs.
Compare Finmax, fxglobe, Windsor Brokers & henyep below.
Reviewing The Finmax Mobile App
Note: Finmax's mobile app has many functions and is being developed all the time. The below information was accurate at the time of compiling this Finmax review.
Understand the capabilities of the mobile apps of Finmax, fxglobe, Windsor Brokers & henyep below.
Alternatives To Finmax
If, after studying this Finmax review, they do not fulfill your requirements check out these Finmax alternatives.
We have scoured the web to find the best alternatives to Finmax. Click the links below to learn more.
Frequently Asked Questions about Finmax
Can I try Finmax before I buy?
Yes, you can most definitely try Finmax before you buy. Finmax offers demo accounts for the convenience of new traders. You may use this feature to build your faith in the machine and yourself and your trading strategies.
If you register for a demo account on Finmax, you may set out using a decent amount of virtual money. It is to establish a feeling of security and confidence in you before you decide to spend your own money.
With this digital Finmaxdemo account, you can experiment at all, to whatever length you desire. You might also start positions, examine different trading strategies, and much more.
Finmax specifies on its official website which you can exchange real time stocks with your demo account.
Is Finmax safe?
It is possible to drop all your worries since we believe that Finmax is perfectly safe to use. It is in compliance with all the principles of Financial Services Authority (FSA).
Even so, Finmax doesn't provide assured stop-loss protection.
Why does Finmax ask for my passport?
The reason that Finmax asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Finmax has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Finmax must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Finmax?
The process to start trading withFinmax is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Finmax website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live account with Finmax is $0. You should have a good hold over the details of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Finmax.
The best way to kickstart your trading career with Finmax is to open a demo account facility before risking any real money
What funding methods do Finmax accept?
There are multiple ways to finance your account with Finmax. The process is effortless and quick, with different payment methods at your fingertips.
You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing money. You must keep in mind that PayPal isn't available in every place. The monies Finmax
Is my money safe with Finmax?
Yes, your cash is safe and protected with Finmax. As you know, Finmax operates with good conformation to. It's established lots of measures to protect all of its own investors.
Finmax protects its customers' personal and sensitive data under SSL encryption. Your capital will be retained highly secure in top-tier banks.
If you want to further protect your account, you can empower Two-Step Verification also. It requires an SMS affirmation that you access your accounts.
Is Finmax trading good?
Yes, trading via Finmax is a pleasant and good experience indeed. It is an excellent and intuitive platform with useful features for your simplicity. In addition, you can also gain access to a vast collection of educational resources and assistive substance to kickstart your trading experience.
If you are still skeptical, it is possible to open a eToro demo account and evaluate the credibility of the platform on your own.
Which Countries does Finmax support?
Finmax operates around the globe. However, due to regulations there are some countries that Finmax cannot accept clients resident in BR, KR, IR, IQ, SY, JP, US
Is Finmax legit?
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.
Is Finmax a good broker?
Finmax is a great agent, and its own users may vouch for this. The highlight of the platform is its fast order execution on transactions.
You'll find the clean design of this platform and the admirable features that a pleasure to work with.
Is Finmax a trustworthy broker?
Yes, Finmax is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Finmax?
The minimum deposit to open a live account with Finmax is $0
How long do Finmax withdrawals take?
Normally, withdrawal of money from Finmax is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Finmax to show in your bank account.
Are Finmax regulated?
Finmax are regulated by Financial Services Authority (FSA)
Is Finmax a market leading broker?
Finmax is indisputably among the business leaders. It has over 10,000+ registered users and over 13 years of expertise on its own record. They are one of the world's leading trading platforms and a prominent figure in the Fintech revolution.
It simplifies this standing to its incredible platform and broad selection of tools plus resources so you can put money into capital markets.
Is Finmax a con?
No, Finmax is not a con. They are regulated by Financial Services Authority (FSA) and must adhere to their rules. Thus, it is safe to say that Finmax is not a scam.
Can you make money with Finmax?
Using Finmax, many traders make a lot of money. But on average, through consistent trading, you also can create between 2% - 10% profit a month.
This may seem to be a small number, but within the entire year, this adds to a significant number of gains. Even though Finmax supply you all the tools to make money, they cannot guarantee you will gain.
Does Finmax have fees?
Yes. To begin trading using Finmax, you have to deposit $0. Particular commissions while trading additionally apply. Any processing fees from your bank will have to be incurred by you.
When was Finmax founded?
Finmax was founded in 2008 in Bulgaria. Finmax is regulated by Financial Services Authority (FSA).
How many people use Finmax?
Finmax is a globally recognised broker with 10,000+ customers.
Where is the Finmax head office?
Finmax has its head office in Bulgaria
Does Finmax offer negative balance protection?
Does Finmax offer guaranteed stop loss?Finmax unfortunately, does not provide guaranteed stop loss. Finmax gives an opportunity for its traders to close their trades at their given price. Apart from that, Finmax doesn't offer guaranteed stop loss.
Does Finmax allow scalping?Yes, Finmax do allow scalping. Several traders throughout the world select Finmax for their scalping services. They offer trading on MT4,MT5 which allow this.
Does Finmax allow hedging?
Yes, Finmax does allow hedging.
Can you trade energies with Finmax?
Yes, you can trade energy stocks with Finmax
Can you trade agricultural shares with Finmax?
Yes, you can trade agricultural stocks with Finmax
Can you trade cryptocurrency with Finmax?
Yes, you can trade cryptocurrency with Finmax
Can you trade metals with Finmax?
Yes, you can trade metals with Finmax
Can you trade UK Shares with Finmax?
Yes, you can trade UK shares with Finmax
Can you trade US Shares with Finmax?
Yes, you can trade US shares with Finmax
Can you trade Japanese Shares with Finmax?
No, unfortunately you cannot trade Japanese shares with Finmax
Can you trade German Shares with Finmax?
No, unfortunately you cannot trade German shares with Finmax
Does Finmax accept bank transfers?
Yes, Finmax accepts bank transfers for depositing money.
Does Finmax accept credit cards?
Yes, Finmax accepts credit cards for depositing money.
Does Finmax accept PayPal?
No, Finmax does not accept PayPal.
Does Finmax accept Skrill?
No, Finmax does not accept Skrill.
Does Finmax accept Payoneer?
Yes, Finmax accepts Payoneer for depositing money.
Does Finmax accept Neteller?
No, Finmax does not accept Neteller.
Does Finmax offer Live Chat customer support?
Yes, Finmax offers customer support through live chat.
Does Finmax offer phone customer support?
Yes, Finmax offers customer support over the telephone.
Does Finmax offer email customer support?
Yes, Finmax offers customer support through email.
What languages can Finmax communicate in?
Finmax has the ability to communicate and support customers who speak: English, and Chinese
Does Finmax have a wikipedia page?
No, Finmax does not have an official wikipedia page.
Does Finmax offer demo accounts?
Yes, Finmax offers demo accounts so you can test your trading strategies before risking any real money. Newbie traders can open a demo account in order to better understand the areas of Forex trading and test out some of Finmax's features before signing up for a live account.