Thanks to its convenient trading platform, ample number of advanced trading tools and inspiring education materials, FINMAX has become one of the most outstanding brokers. Read this review to find out what other amazing benefits this broker has to offer!
General Information
2020 marks 5 years FINMAX getting into action. This Binary Option (BO) Broker has its headquarters in Sofia, Bulgaria, and is regulated by the International Financial Market Relations Regulation Center (IFMRRC). Ever since the beginning of its operations this broker has attracted the attention of many traders due to the quality of its platform, an impressive variety of helpful trading tools and a decent selection of tradable assets.
Advantages and Disadvantages
+ Regulation: FINMAX is licensed by IFMRRC with Compliance Certificate number 0395AAV0131. IFMRRC is a non-Government and self-organised agency overseeing trading services provided by brokers and similar dealers. As such, it always stays neutral and is not manipulated by any entities.
+ Trading Platform: The broker develops an in-house platform with many advantages like well-arranged, easy to use and intuitive.
+ Opening requirement: FINMAX offers a flexible and easy-to-meet standard with the minimum deposit of only $10.
+ Demo account: The demo account can be created at the same time as the real account. You will instantly have $1000 to test the features of the platform and also the broker.
+ Education: Joining FINMAX, you can access a giant trading documents treasure with tutorials, e-books, video lessons and webinars.
– Single account type: It’s not really a drawback, but FINMAX offers only 1 account type to make it simple for most traders.
Trading Conditions
As aforementioned, FINMAX is a fully regulated broker so you can assure that you are protected by the administrative body.
In terms of trading requirement, the initial deposit amount is as low as $10, making it within reach of newcomers who can’t afford too big capital when beginning trading.
Another concern of traders resolved by FINMAX is the security of the funds. As complied with the regulation, the broker has to keep their clients’ money in segregated accounts to ensure that these monies can only be used by the traders.
FINMAX also applies the Secure Sockets Layer (SSL) encryption system to protect the website and clients’ data like credit cards. The broker keeps nothing from its clients.
Assets
There are 5 trading instrument groups:
- Stocks: Consists of the most famous companies’ shares: Apple, Facebook, Coca Cola;
- Indices: The major ones from strong economies: DOW JONES, NASDAQ 100, Nikkei 225;
- Currencies: 25 pairs, including EUR/USD, USD/JPY, EUR/AUD, GBP/CHF;
- Commodities: Precious metals like Gold, Silver, Copper; Energy carriers like Oil, Natural Gas;
- Crypto: All of the major ones such as BITCOIN, ETHERIUM, LITECOIN, RIPPLE;
It can be said that FINMAX covered all commonly traded assets. The broker provides two types of contracts – High/Low and Above/Below with 5 expiry times.
Trading Platform
FINMAX can be proud that they have provided clients with a modern but straightforward trading experience via their platform. It is available for all versions: desktop, web and mobile devices. The interface is so simple that you don’t even need a couple of minutes to get familiar since everything is already clearly displayed.
Account Types
FINMAX offers only one account type but in different levels based on your deposit: Bronze, Silver, Gold, Platinum, VIP, each of which has its own benefit level.
Bronze Level – requires a minimum deposit of $250 and opens full access to all features and more than 75 assets. It also grants access to a bonus of up to 25%, education courses, an account manager, economic calendar, and a free first withdrawal.
Silver Level – the most popular type of account amongst users – it requires a minimum deposit of $1,000 and offers all the benefits of a Bronze account, a bonus of up to 50%, a risk-free trade up to 25% from your deposit amount, personal account manager and free webinars. The withdrawal requests are also processed faster and will only take 48 hours.
Gold Level – requires a minimum deposit of $5,000 and includes all the benefits of a Silver account, a 2% return per each trade, a bonus up to 75%, risk free trade up to 50% from your deposit amount. It also gets you access to free educational videos, daily analytics, market reviews, fundamental and technical analysis. Withdrawals are processed within 24 hours and there is one free withdrawal per month.
Platinum Level – requires a minimum deposit of $25,000. In addition to all benefits of a Gold account it gets you a 4% of return per each trade, a bonus up to 100% and free withdrawals.
VIP Level – requires a minimum deposit of $100,000. Naturally it includes all benefits of a Platinum account, but it will also enlist help of two senior analysts and a manager that will be at your service 24/7. The return per each trade also increases to 6%.
Funds withdrawal
FINMAX offers various payment methods. You can easily deposit or withdraw via:
- Credit Card
- Bank Transfer
- Webmoney
- Santrapay
- Yandex Money
- Qiwi Wallet
- Perfect Money
To make a withdrawal, you must verify your account by providing required documents, including proof of ID, proof of residence, copy of credit card (if you fund via this method). The processing time is up to 7 business days (up to 48 hours for VIP account).
Trader training
FINMAX clients have a rich education center to exploit. You can find anything you need for your trading career from basic to advanced, from terms to strategies. The educational courses are presented in e-book, webinars and video lessons.
This means a lot for beginning traders since the Binary option is not about luck but a game of mind and you need the knowledge to win it.
Customer Support
A qualified support team is another factor forming a reliable broker. Trading contains many unexpected incidents so a good customer support team is indispensable to help you out of these annoying things. It is also the place where you can find the answers relevant to the broker’s policies and trading condition.
FINMAX’s clients can easily reach the broker’s support via:
- Hotlines: +359 249-285-60 – Bulgaria
+43 (720) 02-25-13 – Austria
+44 (203) 769-07-54 – United Kingdom - Email:[email protected]
- Live chat
Keep in mind that their working hour is: 08:00 – 20:00 (GMT+3)
Should I trade with FINMAX?
Choosing a reliable broker to trade binary option is not easy, especially when many scams are around you. FINMAX, presented in the market in just 5 years, has already had a solid place in the trader community thanks to its:
- Good trading condition
- Various tradable assets
- Advanced trading platform
- Simple account requirements
- Easily deposit and withdraw
- Rich education center
- Helpful customer support
The binary option is not an easy investment, thus traders, especially newcomers need a proper broker to wipe out uncertainty to focus solely on trading. With outstanding services and legitimacy, FINMAX should be one of your top choices.