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FinMax review and ratings

Established 2017
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown
Broker type STP | Binary
Leverage up to 1:200
Deposit from 10 USD
Spreads high  high
Platforms Web Specific Binary Platform
Instruments Currencies Crypto Indices Metals Energies Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller WebMoney Yandex Money Qiwi ePayments Bitcoin

Company information

FinMax is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.

FinMax is also a member of the International Financial Market Relations Regulation Center (IFMRRC), a non-commercial dispute resolution organisation.

Availability

FinMax accepts clients from all over the world, excluding USA.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for FX trading.

25+ Currency Pairs Based on major and minor world currencies.
10 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
6 Indice CFDs Based on baskets of different blue-chip stocks.
3 Metal CFDs Based on Gold, Silver and Copper.
1 Energy CFD Based on Crude Oil (WTI).
10+ Stock CFDs Based on shares of US and EU companies.

Forex broker offers the following underlying assets for Binary Options trading.

25+ Currency Pairs Based on major and minor world currencies.
9 Indice BOs Based on baskets of different blue-chip stocks.
3 Metal BOs Based on Gold, Silver and Copper.
2 Energy BOs Based on Crude Oil (WTI) and Natural Gas
40+ Stock BOs Based on shares of US, UK and EU companies.

Comprehensive review

Registered in Saint Vincent and the Grenadines, FinMax is an unregulated offshore broker that caters to clients from around the world with the usual exception of the United States. Users can enjoy a very simple and straightforward registration process, as well as fairly decent trading leverage of up to 1:200.

FinMax’s reputation in the online trading community also seems pretty good, and we have not come across any complaints from traders who have been trading with this broker. Although it is not under the oversight of any official financial regulator, it is still a member of a small self-regulatory organization known as the International Financial Market Relations Regulation Center, which should provide clients with at least some protection and peace of mind.

FinMax offers a large selection of trading instruments, ranging from binary options based on a large number of underlying assets, to all the most popular currency pairs, and CFDs on cryptocurrencies, precious metals, energies, stock indices, and individual stocks.

The broker has its own trading platform for binary options trading which offers trading in both binary options and CFDs on the many underlying assets the broker offers. Regular charts and order placement work in a straightforward way on the platform, and it has a very simple and intuitive user interface. The platform also comes with integrated “advanced charts” provided by charting platform TradingView, which in our view is a big plus for the platform.

The FinMax trading platform also comes with built-in functionality for “social trading” called “social radar” on the platform. This allows traders to automatically copy the trades made by other more experienced traders, which helps everyone become successful regardless of their level of experience.

FinMax offers their users five different account types, depending on the size of their initial deposit, ranging from USD 250 to over USD 100,000:
– Bronze Account
– Silver Account
– Gold Account
– Platinum Account
– VIP Account

In addition to the above, anyone can open a free demo account to practice trading, and become familiar with the FinMax trading platform, with USD 1,000 of virtual trading capital.

Deposits and withdrawals can be made conveniently through the standard options of major international credit and debit cards, international bank wire transfer, several different e-wallet services, as well as with bitcoin directly from a bitcoin wallet. Potential FinMax clients should also note that there are certain ID verification requirements that have to be met before a withdrawal can be processed back to the trader.

An extensive library of free educational materials is made available by the broker, including a very convenient introduction into CFD trading strategies, and stand out as very useful for new traders in particular. Combined with the social trading feature on the platform, these trading strategies even offer a simple avenue for becoming a reliable forex signal provider without much hassle.

As a generous offer to new clients, FinMax will add a bonus of up to 100% of an initial deposit into a trading account that has been set up with them.

In terms of customer service, the broker is available via phone, email, and online live chat via its website, between 08:00 and 20:00 (GMT+3) on weekdays. It has local support phone numbers in Cyprus, the United Kingdom, and Canada for easier communication with traders in those regions as well.

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