Finmax Guide – Read our In-Depth Finmax Review
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 US users.
If you're a new entrant in the realm of trading and broker, so many facts will be perplexing for you. Getting into the world of trading requires expert assessing skills and thorough knowledge. You'll get adept at all of the concepts of broker as you keep trading. For starters, you have to select the ideal agent who'll be transparent with you constantly.
Within this fast-paced universe of stock markets and trading, you'll need advice to make correct decisions. A professionally lead investment plan will create hefty returns. Finmax is just one such stage that will take you along with your investment to great heights. It's crucial to know about Finmax until you trust them with your money.
Our entire Finmax Review covers everything you need to know about trading with Finmax. A fantastic broker can multiply your initial investments and give you positive profits. If you would like to earn profits, you should trade with a brokerage service that contrasts with your investing goals.
There's absolutely no sure-fire method to guarantee profits; therefore, you must carefully assess your broker before you choose them. It's a frequent misconception that all agents will be the same, but that's not correct. Wrong judgment, in the beginning, can set your investments at risk.
Finmax is a broker which has paved its way successfully into the broker world. In this review, we have attempted to collate some of the vital aspects of Finmax. This review can allow you to understand whether Finmax is a good fit for your investments or not. We have attempted to breakdown all of the features and charges 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?
- 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 foreign exchange broker headquartered in Bulgaria and provides a range of instruments for trading. Since its beginning in 2008, Finmax has emerged as a top-tier player in the industry of online broker. Finmax includes a highly aggressive and full-featured trading website that is focused on forex, indices, metals, shares, 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 a favorite for many dealers.. Our Finmax review discovered that they are an excellent alternative for automated trading solutions. It's best suited for investors who are searching for a variety of assets. Social and automated trading options are the heart at Finmax.
Technology plays a substantial role in Finmax. Finmax offers trading on MT4,MT5. Finmax is honest, transparent, and a well-regulated agent by the Financial Services Authority (FSA). Their outstanding array of resources will be beneficial for the majority of traders. Third-party partnerships also supply in-house analysis.
The trader resource department at Finmax is very insightful for new traders as it allows them to have a closer look at the financial markets. Finmax caters to all types of traders and are a must-have broker for any well-diversified method of online 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 using Finmax
Finmax is a dynamic platform that offers various procedures of trading online. These instruments cover the monetary markets substantially. Most of the broker platforms provide fewer approaches than Finmax
If you wish to exchange with Finmax, you'll need a minimum deposit of $0. This deposit is compulsory if you wish to start trading with Finmax. This 2021 Finmax review will guide you clearly about trading with them.
Finmax is as versatile as another brokerage platform. Finmax is ideal for traders who want a manageable selection of cheap services. The platforms provided by Finmax are third-party, white-label offerings. All traders can select out of MT4,MT5.
Along with everything, Finmax has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time over which a trade has to be kept available. The agents provide premium client service which rewards clients with advantages.
Many unethical brokers try to pressurise users into bigger financing for superior services. Finmax, on the other hand, is much more concentrated on trading volume. Traders can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the consumer, the greater advantages will become available.
Finmax accounts are available around the world and provides excellent service wherever 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:
Is Finmax Safe To Trade With?
Established in 2008, Finmax has been in operation for 13 years, they are headquarted in Bulgaria.
Finmax is regulated by Financial Services Authority (FSA). These bodies have rules that mandate that trading platforms have steps in place to keep 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 established banks. SSL encryption secures every user's private information also.
You can make use of an option for Two Factor Authentications (2FA) with Finmax for heightened safety. An SMS with the verification code will be sent to your phone. You will be asked to enter this code to log in to your account.
Another concern with fiscal brokers is in respect to security might be manipulation of trading. This is highly disadvantageous for users on those platforms. However, this is much more widespread in the case of Market Maker agents who compete with users on the platform.
Pro's & Con's Of Trading With Finmax
Every online trading platform has some pros and cons Finmax review would be complete without showing both sides. 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 doesn't charge inactivity 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
- Finmax does not offer Negative Balance Protection
- Finmax does not offer Guaranteed Stop Loss
- Finmax charge withdrawal fees
- Finmax doesn't trade minor forex pairs
Finmax Review - Compare Brokers Similar To Finmax
|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-F217||Cyprus Securities and Exchange Commission (CySEC)||Cyprus Securities and Exchange Commission (CySEC)|
|Find Out More|
|Risk Warning||Your capital is at risk||CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money||Your capital is at risk||Your capital is at risk|
Finmax Review - Regulation And Licencing In More Detail
Finmax is regulated by Financial Services Authority (FSA).
Finmax, as a business, has a strong collection of rules for ensuring fair trading on its platform. For data encryption functions, it supplies an industry-standard secure socket layer (SSL).
As per the organization's privacy regulations, customer data is never to be shared with any other institutions or individuals. This includes credit history and other financial information.
Finmax Review - Awards
- At the time of writing this Finmax review, they had not received any awards.
Finmax Review - Minimum Deposit Required
The minimum deposit you must deposit to begin on Finmax is $0. This is a decent amount for those just beginning. It's possible to make more complex deposits as you cooperate. However, make certain that you know how to make the most of your cash before investing larger sums.
Finmax Review - Commission And Fees Explained
Finmax is an online brokerage platform, and most online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the businesses of online brokerages are scaled much better. That is, an online broker isn't necessarily influenced by the number of clients they have.
However, this does not necessarily mean that online brokers don't charge any fees. They charge fees of varying rates for various services to make money. There are primarily three different types of penalties for this purpose.
The first sort of fees to keep an eye out for are trading fees. Whenever you make a genuine trade, like purchasing a stock or an ETF, you are charged trading fees. In these cases, you're paying a spread, financing rate, or even a commission. The kinds of trading fees and the rates vary from broker to broker.
Commissions can be fixed or dependent on the traded quantity. On the other hand, a spread denotes the difference between the buying and selling cost. Financing or overnight prices are people who are charged when you hold a leveraged position for more than a day.
Apart from trading fees, online brokers also bill non-trading fees. These are dependent on the activities you undertake on your account. They're charged for operations like depositing money, not investing for long periods, or withdrawals.
Generally, Finmax doesn't charge high fees compared to other online agents. For operations other brokers charge for, they either do not charge a brokerage fee, or they charge a smaller sum. This is beneficial for those who regularly exchange, such as daily or weekly trading.
But, non-trading fees charged by Finmax are comparatively lower. Consequently, you're charged more for non-trading actions in your trading accounts, such as withdrawal and deposits. These are not about the sale and purchase of assets.
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 Explained
Finmax charges a withdrawal fee if you create a bank transfer. Every time you move money back into your bank account, these withdrawal charges become applicable.
Withdrawal of cash is possible at any time from the Finmax account. It's possible to draw up sums to the sum of your account balance, keeping aside the margin utilized. 1 thing to keep in mind is that you don't necessarily have to have any cash in your account.
In addition, the withdrawn money will be moved directly to the accounts you use to make deposits. Therefore, in the event that you used a credit card for deposits, the withdrawn money is going to be sent into the card. Finmax will ask you to offer other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing money in different currencies from USD, a conversion fee is also applicable. The conversion fee will be dependent on the currency you are choosing to draw in.
Finmax Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of the buzzing questions which run through your head when open an account with Finmax. An inactivity fee is an amount charged to registered dealers who have not participated in buying or selling for a while. The period considered inactive is determined by the agent.
The inactivity fee also differs from 1 agent to another and isn't standardized. If a traders account does not have a buying or selling trade, it's claimed by the agent as an inactivity fee. The traders need to pay this fee under conditions and terms they had consented while registering.
Finmax doesn't charge inactivity fees so you are free to use your account as needed
Even if no charges are implied by Finmax, it is best for you to close the account if you're inactive. Inactivity fees aren't just charged by brokerage companies but also many financial services.
For other trading platforms, the inactivity fee depends upon the type of account you've chosen. The inactivity fee is subjected to many conditions and needs to be disclosed clearly by the broker beforehand.
Finmax Review - Deposit Fees Explained
When you move money in your trading account from your bank account, a deposit fee can be charged by the broker. Most brokers don't 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 simple. You just have to finish a single-user profile survey to start depositing money into your trading account. You'll need to give an identity proof and evidence of residency to deposit substantial amounts.
Finmax Review - Compare Broker Deposit Methods
What Can You trade With Finmax?
Note: Finmax provides many different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered can 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, Pepperstone, Phoenix Markets & ATFX below.
Alternatives To Finmax
If, after studying this Finmax review, Finmax doesn't quite meet your needs check out these Finmax alternatives.
We've scoured the internet 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 certainly try Finmax before you buy. Finmax offers demo accounts for the convenience of inexperienced traders. You can use this feature to build your faith in the system and yourself and your trading strategies.
If you register for a demonstration account on Finmax, you may set out with a decent amount of virtual money. It's to establish a feeling of safety and confidence in you until you choose to invest your own money.
With this virtual Finmaxdemo account, you can experiment in any way, to whatever length you desire. You can even open positions, test different trading approaches, and much more.
Finmax specifies on its official website that you can exchange real time stocks in a demo account.
Is Finmax safe?
It is possible to drop all your worries because we believe that Finmax is totally safe to use. It is in compliance with all the principles of Financial Services Authority (FSA).
Nevertheless, 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 acocunt with Finmax is $0. You should have a good hold over the nuances 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 a number of methods to fund your accounts with Finmax. The process is effortless and quick, with various payment methods at your fingertips.
You can use debit or credit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing funds. You have to bear in mind that PayPal isn't available in every place. The currencies Finmax
Is my money safe with Finmax?
Yes, your money is safe and secure with Finmax. As you already know, Finmax works with proper conformation to. It's established lots of measures to guard all of its own investors.
Finmax protects its customers' personal and sensitive data under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you want to further protect your account, you can enable Two-Step Verification as well. It takes an SMS affirmation for you to get your accounts.
Is Finmax trading good?
Yes, trading via Finmax is a nice and good experience indeed. It's a great and intuitive platform with useful features for your simplicity. Moreover, you could also gain access to a huge collection of educational tools and assistive material to kickstart your trading expertise.
If you remain skeptical, you can start a eToro demo account and evaluate the credibility of the platform for yourself.
Which Countries does Finmax support?
Finmax operates across the globe. However, due to regulations there are some countries that Finmax can't accept clients from
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 an excellent broker, and its own users may vouch for this. The highlight of the platform is its fast order execution on trades.
You will discover the clean layout of the 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 industry leaders. It has over 10,000+ registered customers and over 13 years of expertise on its record. They're one of the world's leading trading platforms and a prominent figure in the Fintech revolution.
It simplifies this status to its unbelievable platform and wide range of resources plus tools 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?
Through Finmax, many traders earn a lot of cash. But typically, through continual trading, you also can make between 2% - 10% profit a month.
This can look to be a little number, but over the year, this adds to a substantial amount of gains. Even though Finmax provide you all of the tools to earn money, they can't guarantee you will gain.
Does Finmax have fees?
Yes. To start trading with Finmax, you have to deposit $0. Certain commissions while trading additionally apply. Any processing fees from your bank will need 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 worldwide recognised broker with 10,000+ clients.
Where is the Finmax head office?
Finmax has its head office in Bulgaria
Does Finmax offer negative balance protection?
No. Finmax doesn't offer negative balance protection. If your balance is negative, Finmax suggests that you promptly contact customer services. For this, you are able to correct any imbalances within your own account.
Does Finmax offer guaranteed stop loss?Finmax regrettably, doesn't offer guaranteed stop loss. Finmax gives an opportunity for its dealers to close their trades at their specified price. Apart from that, Finmax does not offer guaranteed stop loss.
Does Finmax allow scalping?Yes, Finmax do allow scalping. Several traders across the world choose Finmax due to their services that are trading. 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?
Yes, you can trade German shares with Finmax
Does Finmax accept bank transfers?
No, Finmax does not accept bank transfers.
Does Finmax accept credit cards?
No, Finmax does not accept credit cards.
Does Finmax accept PayPal?
No, Finmax does not accept PayPal.
Does Finmax accept Skrill?
No, Finmax does not accept Skrill.
Does Finmax accept Payoneer?
No, Finmax does not accept Payoneer.
Does Finmax accept Neteller?
No, Finmax does not accept Neteller.
Does Finmax offer Live Chat customer support?
No, Finmax does not offer customer support through live chat.
Does Finmax offer phone customer support?
No, Finmax does not offer customer support over the telephone.
Does Finmax offer email customer support?
No, Finmax does not offer customer support through email.
What languages can Finmax communicate in?
Finmax has the ability to communicate and support customers who speak:
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 learn their systems before risking any real money.