FinMax Review – Botswana 2019

First introduced to the global trading community in 2015, Finmax is an iFMRRC-regulated broker that provides a binary options trading platform with over 100 tradable assets and instruments. Since inception, the company has executed more than 30 million orders and has won many honorable awards from reputable broker evaluators such as IAFT or FXEMPIRE.

Today, Finmax operates in more than 150 countries and has over 230,000 client accounts. The broker has its headquarters located in Bulgaria and satellite offices in major cities around the world, including Nicosia, London, and Toronto.

Pros

  • User-friendly trading platform
  • A diverse range of financial instruments
  • Decent payouts
  • 24/7 customer service
  • Multiple account options

Cons

  • Relatively high minimum deposit
  • Few trading types
FinMax Forex Botswana

License and Regulation – FinMax Forex

Finmax complies with the regulations of the International Financial Market Relations Regulation Center (iFMRRC) – one of the most reliable regulatory bodies today. You can find information about the regulation on the iFMRRC’s official site (https://ifmrrc.com/).

Covered under iFMRRC’s Compensation Fund scheme, you can claim up to a maximum amount of 100,000 USD in the event Finmax is unable to fulfill its contractual obligations. Check out more Forex Brokers accepting Botswana traders.

Trading Platform 

Finmax’s trading platform is exclusively designed by Tradesmarter – one of the world’s leading platform providers. It is highly user-friendly and includes up-to-date standards to meet all your trading needs. 

Opening a position with Finmax’s platform is encapsulated in 5 steps: 

  1. Choose your preferred trading type (High/Low or Above/Below)
  2. Select an asset you wish to trade
  3. Pick a contract expiry time
  4. Choose the asset’ expected direction and your willing investment amount
  5. Click on the “TRADE” button

Finmax’s trading platform is integrated with popular technical indicators, including Moving Average, Relative Strength Index (RSI), and Moving Average Convergence Divergence (MACD). To use more technical analysis tools, you can access the broker’s Advanced Charts.

Like other advanced trading platforms in the market today, Finmax’s one is compatible with both computers and mobile devices, allowing you to trade on the move.

Trading Assets – FinMax

At Finmax, you can trade over 100 assets and instruments, including: 

  • 40+ popular stocks from around the world
  • 14 indices
  • 25 Forex currency pairs
  • 8 commonly traded commodities
  • 10+ cryptocurrencies

Currency Pairs – Forex Pairs

EUR/USD

USD/JPY

GBP/USD

USD/CAD

USD/CHF

AUD/USD

USD/SEK

AUD/CAD

AUD/CHF

AUD/JPY

CAD/CHF

CAD/JPY

CHF/JPY

 

EUR/CHF

GBP/AUD

GBP/CAD

GBP/CHF

EUR/JPY

USD/NOK

 

EUR/AUD

EUR/CAD

EUR/GBP

GBP/JPY

NZD/USD

USD/RUB

 

Commodities

Gold

Silver

 

GOLD/EUR

GOLD/GBP

 

Natural gas

Oil

Copper

GOLD/Silver

Cryptocurrencies

BITCOIN

ETHERIUM

LITECOIN

 

 

RIPPLE

BCH/BTC

ETH/BTC

 

ETH/EUR

LTC/EUR

XRP/EUR

 

LTC/BTC

BTC/EUR

 

Stocks

Alibaba

Amazon

Apple

AIG

Banco Santander

General Motors

Volkswagen

Walt Disney Co

Yahoo

Siemens

Sony

China Life

Cisco

Citigroup

Google

Tesla

Total

Twitter

Snapchat

Starbucks

BMW

BNP

Goldman Sachs

HSBC Holdings plc

IBM

LinkedIn

McDonald’s

Microsoft

Netflix

RBS

Renault

Sanofi-Aventis

SAP

Coca-Cola

eBay

Exxon Mobil Corp

Facebook

Fanuc

Fiat Chrysler

Gazprom Barclays

BBVA

BP

Indexes

DAX 30 Futures

FTSE 100

HANG SENG

Nikkei 225

 

IBEX 35 Futures

MICEX Futures

NASDAQ 100

NIFTY 50

 

S&P 500 Futures

SSE 180

Tel Aviv 25

Topix 100

DOW JONES

Dubai Index

 

Account Types 

Finmax offers 5 different types of real trading accounts, each of which comes with its distinct features and promotions. 

Bronze account

  • Minimum deposit: $/€250
  • Benefits:
    • Full access to all features
    • Up to 25% bonus

 Silver account

  • Minimum deposit: $/€1,000
  • Benefits:
    • Full access to all features
    • Up to 50% bonus
    • Risk-free trade up to 25% of your deposit amount
    • Free webinars

 Gold account

  • Minimum deposit: $/€5,000
  • Benefits:
    • Full access to all features
    • Up to 75% bonus
    • Risk-free trade up to 50% of your deposit amount
    • An additional return of 2% for every winning trade
    • Free webinars

 Platinum account

  • Minimum deposit: $/€25,000
  • Benefits:
    • Full access to all features
    • Up to 100% bonus
    • Risk-free trade up to 50% of your deposit amount
    • An additional return of 4% for every winning trade
    • Free webinars

 VIP account

  • Minimum deposit: $/€100,000
  • Benefits:
    • Full access to all features
    • Up to 100% bonus
    • Risk-free trade up to 50% of your deposit amount
    • An additional return of 6% for every winning trade
    • 24/7 support from an account manager and 2 senior analysts
    • All VIP webinars

Education

 Finmax’s education center is accessible to everyone. There, you can learn to trade through various forms, including: 

  • Articles
  • Analysis
  • Ebooks
  • Videos
  • Webinars

 If you are a VIP client, you can participate in private training with Finmax’s experts.

Deposits and Withdrawals 

Finmax offers a fast and accurate deposit & withdrawal system. Deposits will immediately be credited to your trading account, while withdrawals are usually processed within 2 business days. 

At this broker, there are a variety of payment methods for you to choose from, including Visa/Mastercard, Wire Transfer, Bitcoin, Webmoney, QIWI, Yandex, Skrill, Neteller, and many more. 

Funding at Finmax starts from $/€250, while the minimum withdrawal is as low as $/€10. 

Customer Service

Finmax’s customer service is available 24/5 for normal clients and 24/7 for VIP clients. The supported languages ​​include English, Russian, Polish, Arabic, Italian, French, German, and Spanish. 

There are 4 ways for you to reach out to Finmax’s multilingual specialists: 

  • Phone
  • Live Chat
  • Email
  • Social channels

Frequently Asked Questions

  1. Is Finmax safe and reliable?

Yes. Finmax is an iFMRRC-regulated binary options broker. In the unlikely event that Finmax is bankrupt, you can claim up to a maximum amount of 100,000 USD.

When trading at this broker, your personal information is secured by the Advanced Encryption Standards 256 Bit technology. Under iFMRRC’s regulations, Finmax is not allowed to share clients’ personal information with third parties.

  1. Does Finmax offer a demo account?

Yes. Finmax offers a demo account with $1,000 virtual money for its clients to practice trading without risks.

  1. Which contract expiry times does Finmax provide?

Contract expiry times at Finmax vary from 30 seconds to 1 year.

  1. Does Finmax charge fees on deposits and withdrawals?

Finmax does not charge any fees on deposits. On withdrawals, however, the fees are as follows: Credit card  3.5%, Wire transfer $25, Yandex Money, Neteller, OKPay 3.5%, PerfectMoney, Skrill 2%, etc.

The withdrawal fees also depend on the type of account you use:

  • For a Bronze or Silver account, you will have one free withdrawal
  • Gold account, you will have one free withdrawal per month
  • Using a Platinum or VIP account, you will enjoy zero withdrawal fee

Final Thoughts

Finmax caters to the needs of a diverse range of traders as it provides a large selection of financial instruments, contract expiry times, account types, and payment methods. The broker’s trading platform is also very user-friendly and can serve every level of trader, from beginners to professionals.

 In general, registering yourself to this broker is a worthy option if you plan to become a successful binary options trader.