FINMAX Review

Point Summary

Is FINMAX safe or a scam

Finmax is regulated for Binary Options and Forex by the IFMRRC. What does that mean? Well, it means that an unbiased, independent and non-commercial organization has tested out this broker’s offer and found it worthy of the license. It also means that there is an organization this broker is responsible to, which is always a good thing.

Also, they got a European bank and some popular awards. The site is secured by SSL, Comodo Secure and VeriSign Trusted. First of all, does not look like Finmax is a scam.

My test with real money showed it that it is a reliable company for beginners and successful traders. Open your personal account in a few seconds.

Both Finmax deposit and withdrawal went very smoothly for us, especially the latter. There were no withdrawal problems at all and the money was always delivered on time. In addition to that, another thing that can tell you is Finmax a scam or not is the support you get on this website, which is in a word "Good".

How are you protected?

The IFMRCC will also resolve any dispute you might have, plus there is also a compensation fund you can count on if the company provides “substandard brokerage services”.

Accounts

Finmax binary options trading can be done from 5 different account types: Bronze, Silver, Gold, Platinum, VIp account. Which should be more than enough to satisfy all traders. It therefore seems logical to start this review by taking a look at the options you have and the features they offer:

Bronze Account
The first and most basic Finmax account type is the Bronze Account, which can be opened with a deposit of 10 USD. It comes with your own account manager, gives you access to education courses and an economic calendar and allows you to access all main features on the website. All in all, this is a great way to start trading here.


Silver Account
The next step is the Silver Account, which reduces your withdrawal processing time to 48 hours (from several days) and gives you access to free webinars, educational videos, one month of Finmax trading signals and a risk free trade worth up to 25% of your deposit. You will need to deposit 1000 USD for this account type.

Gold Account
The Gold Account takes everything even further because with it you get 2% more from each trade you win, unlimited access to trading signals and various forms of analyses you can use to decide where to invest. The deposit requirement in this case is 5000 USD.

Platinum Account
The Platinum Account with its 4% profit increase per trade,  25,000 USD will be needed for this package.

VIP account
Finally, the final Finmax account is VIP account

How to open new account at FINMAX
The minimum investment amount is only $5! Select the type of the trading account that meets your interests and financial capabilities.

Opening a trading account takes 1 minute!

1. Open A Trading Account for free

After opening one of the accounts with FINMAX you will be able to get all the possibilities, which are offered with each particular type of account.

2. Fund your Binary Option (Personal) Account

In order to start trading binary options with FINMAX you will need to fund your account. The deposited funds are secure as we are an official broker. Money in your account is secured by multiple firewalls and it is kept separate from the funds of the company.


After making a deposit, you will receive one of our promotions and/or a welcome bonus.

3.Start Tradinng Binary Options

In order to start trading binary options and evaluate all benefits of this financial instrument, we suggest you visit the trading platform, select the contract, underlying asset, investment amount, expiration time and open a trade.



Demo account
At FINMAX, they aim to make your trading life easier - and if youre new to the world of trading (or youre an experienced trader but new to FINMAX), you can use the demo version and practise with $1,000 of virtual funds.

Its free to sign up for one of their demo accounts and they will not ask you for any payment details, such as credit card information, when you do. Its a risk-free opportunity to learn more about FINMAX and to practise trading.

Pacticing with Demo account helps you better understand how to execute trades, as well as your risk exposure.Success or failure in simulated trading bears no relation to probable future results with any live trading that you may choose to engage in.
 

How long does my demo account last for?

Demo account will expire within 7 days.

Products

Trading Platforms

Web and Desktop Trading Platforms
FINMAX trading platform is a leading instrument for binary options trading. It was created using innovative technologies. The platform includes the up-to-date standards in order to meet the trader’s needs.
It offers a unique trading platform. From my experience, the platform is very flexible and user-friendly. For beginners, it should not be a problem to learn to trade in a few steps.

It runs on the Trade Smarter trading interface, which is a web-based trading platform that can be accessed through a compatible web browser. which provides a wide range of trading information such as charts, account history, choice of assets, and trading parameters. The full-size trading platform is not only pleasing to the eye but is also designed with the trader in mind.

Almost all binary options platforms provided by leading brokerages tend to have minimal options when it comes to using advanced charting options. Traders are usually forced into resorting to other means such as using multiple charting platforms or paying for technical analysis from third-party service providers. FiNMAX has made life a bit easy for advanced traders, as they have provided an advanced charting platform, courtesy of TradingView.

Mobile Platform

FINMAX offers a modern trading platform for your mobile device, they support the following – iOS, Windows Mobile and Android, which ensures that traders can access their accounts through a smartphone or a tablet. Traders can access almost the entire range of platform features that are available on the desktop platform, while advanced charting options from TradingView can be easily accessed through their responsive template.

Deposits and Withdrawals

Deposits

Deposits can be made on RoboForex as follows: Bank Wire transfer, VISA/Master Card, QIWI WALLET, WebMoney...

What is the minimum deposit amount at FINMAX?

The minimum deposit depends on the account type:
Bronze: $10
Silver: $1,000
Gold: $5,000
Platinum: $25,000
VIp account: $100,000

How long does a Deposit take?
It`s only 1 or 2 minutes

How can I fund my account at FINMAX?

Click the "deposit" button

It will take you to the page as below, choose the payment method and Submit


Withdrawals

The withdrawal of your profit is very easy too. Use the same payment method like your deposit for the withdrawal. In conclusion, the withdrawals with Finmax are very easy to do and with a Bronze, Silver account, you do not pay any fees at your first withdrawal.

What is the maximum withdrawal amount?
There isnt any maximum. It depends on yourself

Does FINMAX charge withdrawal fees?

Commissions and Fees

There are no commissions for registering, just as usual, but clients will have to pay a hefty fee after two months of inactivity and this fee increases as time goes by: from 2 to 3 months, the fee is 80 USD, after 3 months it increases to 120 USD and over 6 months, you will have to pay 200 USD. Keep in mind this is a monthly fee, so it can get quite expensive.

The effective return ranges from 70% to 85%, which is average-to-high for the industry. Crypto payouts are in the 50% range, which is average because usually, brokers offer lower percentages for crypto, compared to other assets.

Bonuses and Promotions

Finmax offers a deposit bonus to each client. In the Bronze, Silver, Gold account, the bonus is 25%, 50%, 75%. With Platinum, Vip, the bonus can be up to 100%.

Another special of the broker is the risk-free trades. That means if you make a loss, you get it paid back by the broker. The money is credited as a bonus.

Bonus Conditions:

Bonuses always linked to a condition. You have to do a certain turnover (trading volume) after the activation of a bonus! The turnover of the Finmax bonus is x40. That means if you activate the bonus of 100% to your deposit of 10.000$, you will get additionally 10.000$ credited as a bonus. 10.000$ x 40 = 400.000$ turnover (trading volume). You can only withdraw your money after the achievement of the 400.000$ turnover.

Customer Support

Research Education

Education
Finmax provides a selection of educational videos courses (most of them are unlocked through registering) on several topics including trading psychology  as well as a platform overview and binary e-book, webinars, and a nice collection of trading strategies. Note that these are actual strategies, with rules, explanations, and pictures.


There is also an FAQ section covering common questions that clients can refer to instead of spending time trying to directly contact the company.




Research

FiNMAX clients can make use of the vast resources for trading, which includes advanced trading charts, personal account manager, and market analytics. Larger account holders have the convenience of trading with signals or use social trading platforms to copy trades from successful traders. The broker also provides market analysis, trading news, webinars, strategy, and VIP trader education. FiNMAX has one of the best trader-oriented resources, which can provide a highly beneficial platform for binary options traders.

Conclusion

Their website is clear, concise and easy to navigate, which means that you can enjoy your trading experience and benefit from a good user experience. They offer everything you need to enjoy successful binary options trading, including a wide range of educational tools and facilities, several Finmax account types, risk-free trades, bonuses… these are just some of the features that guarantee you’ll have everything you need here.

The trade types are simple, and if you are new to trading, there is the option to start low. You will have excellent support all the time here, which helps things go along very smoothly.

It also has a few drawbacks.

• The platform is not as reliable as other third-party or proprietary interfaces, as there are a few latency issues.
• The FiNMAX platform also lacks access to different financial products, and the choice of assets is severely limited.
• Furthermore, short-term trading can also be risky, as the broker has full control over the trades and the price feeds.

Nevertheless, FiNMAX users can use the advanced charting platforms along with the primary Trade Smarter interface to increase their odds of succeeding in the markets

All in all, we think that this is a great broker, for those that are both new to trading and those who have a more established background.

Yet, we would be glad to know your personal opinion about FINMAX, you may share your experience in the comment area below, or ask us for some additional information if required.