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
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:
- Choose your preferred trading type (High/Low or Above/Below)
- Select an asset you wish to trade
- Pick a contract expiry time
- Choose the asset’ expected direction and your willing investment amount
- 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
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EUR/CHF GBP/AUD GBP/CAD GBP/CHF EUR/JPY USD/NOK
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EUR/AUD EUR/CAD EUR/GBP GBP/JPY NZD/USD USD/RUB
|
Commodities
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Gold Silver
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GOLD/EUR GOLD/GBP
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Natural gas Oil |
Copper GOLD/Silver |
Cryptocurrencies
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BITCOIN ETHERIUM LITECOIN
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RIPPLE BCH/BTC ETH/BTC
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ETH/EUR LTC/EUR XRP/EUR
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LTC/BTC BTC/EUR
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Stocks
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Alibaba Amazon Apple AIG Banco Santander General Motors Volkswagen Walt Disney Co Yahoo Siemens Sony |
China Life Cisco Citigroup Tesla Total Snapchat Starbucks BMW BNP |
Goldman Sachs HSBC Holdings plc IBM McDonald’s Microsoft Netflix RBS Renault Sanofi-Aventis SAP |
Coca-Cola eBay Exxon Mobil Corp Fanuc Fiat Chrysler Gazprom Barclays BBVA BP |
Indexes
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DAX 30 Futures FTSE 100 HANG SENG Nikkei 225
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IBEX 35 Futures MICEX Futures NASDAQ 100 NIFTY 50
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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
- Social channels
Frequently Asked Questions
- 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.
- 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.
- Which contract expiry times does Finmax provide?
Contract expiry times at Finmax vary from 30 seconds to 1 year.
- 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.
