FinmaxFX Review 2020 – Is This Broker Worth Trading With

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Trusted FinmaxFX Review 2020

Table of Contents

Review: Regulation: Min. Deposit: Assets: Spreads:
(4 / 5) VFSC 250$ 500+ 3.0 Pips

At the moment FinmaxFX is a fast-growing brand for Forex and CFD Trading. The company starts to advertise its offers for traders. In this review we will give you a deeper look into this Forex Broker. In the next section, you will read about the conditions for traders and how it works to trade with this company. Is it really worth to invest your money there? – Find it out in this review.

The official homepage of FinmaxFX

What is FinmaxFX? – The Forex Broker presented

FinmaxFX is an international offshore Forex Broker for trading currencies, commodities, and stocks. The brand is well known because there is another broker whose name is Finmax and is only for Binary Options trading. Both brands belong to one company. FinmaxFX was founded in 2020 and is a relatively new broker.

The Forex Broker is based in address Port Vila, Vanuatu, PO box 1276 and belongs to the company Max Capital Limited with registration number 41072. In addition, the company got different offices around the world and especially for Europe. As real Forex Broker FinmaxFX is one of the National Association of Forex Dealer’s initiators. In conclusion, FinmaxFX is a very new broker who tries to convince his clients with good offers and conditions. New tools and options to trade are added to the companies portfolio continuously.

Facts about the company:

  • Founded in 2020
  • FinmaxFX belongs to the company Max Capital Limited
  • International offshore Forex Broker
  • Based in Vanuatu
  • Different offices for international support

Is FinmaxFX safe? – Regulation and security of customer funds

When it comes to online trading it is very important to invest with a trusted Forex Broker. There should be regulation and official licenses for the financial markets. From our experience, most unregulated companies try to cheat on customers and want to make them lose money. Licensed brokers must abide by rules and regulations.

FinmaxFX is a very new company and already got 2 different regulations. The Forex Broker is regulated by IFMRRC and the VFSC (Financial Dealers Licensing). Due to my research and contact with the broker, there will be another regulation in the United Kingdom in the future. I will keep this page up to date. In addition, FinmaxFX manages the customer’s fund with European banks and regulated payment methods.

Finance dealer license

In conclusion, the broker is fully regulated and licensed. It is a very new company so there are might changes in the regulation in the future. With a licensed Forex Broker, the fraud is normally excluded.

Facts about the regulation:

  • Regulated by the VFSC
  • Regulated by the IFMRRC
  • Further regulations are planned

Which conditions are available for Forex Traders?

FinmaxFX offers trading with currencies, commodities, cryptocurrencies, stocks, metals, and indices on one platform. More than 500 different assets are available. There is the possibility to get a free demo account to practice or learn how to trade on the platform. For trading real money you have to deposit only 10$. The broker recommends depositing more than 250$ because they will not make any money from deposits under 250$.

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For trading the financial market a maximum leverage of 1:200 is available. The spreads are variable and depending on the assets. From our experience, the spreads on some assets are lower than the spreads of other Forex Brokers but on some assets, the spreads are higher. In addition, the support is working 24/5 hours per week and you get access to webinars or account managers.

Sample assets of FinmaxFX

One advantage of the broker is the different account types for traders. If you deposit more than 250$ you get better support, education, and spreads. Also, withdrawals are without fees. In conclusion, FinmaxFX looks like a reliable broker for currency trading. They provide you the service which you need to trading successfully.

Facts about the conditions:

  • More than 500 different assets
  • Currencies, commodities, metals, stocks, indices, cryptocurrencies
  • 24/5 support in different languages
  • Minimum deposit 10$
  • Competitive spreads
  • Free demo account
  • Metatrader 4/5 platform
  • Maximum leverage 1:200

Test of the FinmaxFX trading platform

The trading platform is a trader’s most important tool. You have to get a correct and fast execution for your orders. Also, analysis and charting tools are necessary for successful making money on the financial markets. FinmaxFX offers the trading platform Metatrader 4/5 to get access to the markets. It is a worldwide well-known platform that is available on many brokers.

The platform can be used on any device. Mobile trading with the Metatrader app is possible. You only need one account for all devices. Choose the web browser, desktop, or smartphone. It is a freely customizable and userfriendly software for professional analysis. The most used form of analysis is technical analysis. In order to do that there is a huge range of indicators, drawing tools. Moreover, automatic trading is possible.

Trading software Metatrader

Facts of the Metatrader 4/5:

  • Available for any device and one universal account
  • One click trading
  • Multi-charting
  • Userfriendly and customizeable
  • Free technical tools for analysis

Professional charting and analysis

Most traders are using fundamental or technical analysis for making decisions for their trades and investments. For fundamental and technical analysis the Forex Broker FinmaxFX offers a good education center. The MetaTrader 4/5 is very popular for all types of technical analysis. You can do multi charting and implement indicators.

Traders can develop their own chartbooks (templates) and if you got some program skills it is possible to develop automatic programs. Each indicator is customizable and you can implement and download new ones. Beginners and advanced traders should feel comfortable with this trading software because it offers all the functions you need for trading.

In conclusion, Metatrader is one of the best platforms worldwide for Forex Trading. Not without reason, this software is offered by many companies. You get a full portfolio of tools and you can customize the chart as you want.

Facts about the charting and analysis:

  • Multi charting
  • Customizeable tools
  • Free indicators
  • Automatic trading
  • Userfriendly for beginners and advanced traders

How to trade with FinmaxFX?

In this section I will show you how to start trading with the Finmax Forex Broker. The advantage of derivates and currency trading is that you can go long or short on the markets. You just have to know in which direction you want to trade. Beginnerst should try it in the demo account with virtual money.

First of all, you do a forecast of the future market movement. Then you choose the position volume in the order mask (1 volume equals 100.000 units of the base currency). For proper risk management, you should use the stop loss and take profit. These are automatic market limits that are closing your trade on a certain price level. In order to make a profit, the market has to move in your direction.

Step by step guide:

  1. Make a forcast of the market movement
  2. Choose the ordervolume of the trade
  3. Setup a stop loss and take profit for managing your risk and profit
  4. Buy (long) or sell (short)

Open you free account

The account opening process takes only time of fewer than 5 minutes. You can start with your name, email, and phone number. After that, you get access to the account portal. FinmaxFX is a fully regulated Forex Broker so the company needs further information about your person before you can withdrawal your profits.

Before you start trading with real money we recommend to verify your account in order to get no problems before you do your withdrawal. The full verification of the account is done in less than 2 days from our experience.

Free and unlimited demo account

In addition, FinmaxFx is offering a free and unlimited demo account. This is an account with virtual money. So new customers can test the platform by themselves. Furthermore, it is a good way to practice trading and develop new strategies. For example, advanced traders can explore new markets and assets.

Register your account

Get a better account type for your deposit

It is possible to get a higher account type depending on your deposit. You will see a picture of it below. The more you trade, the higher the broker’s profit. So you get a better service and lower spreads with a higher account type. Also, it is possible to get a free bonus for trading and there are no withdrawal fees.

What do you get with a higher account type?

  • More webinars
  • Lower spreads
  • Bonus
  • Account managers and analytics
  • Trading signals

Review of the FinmaxFX deposit and withdrawal methods

For deposits and withdrawals, there are different payment methods available. FinmaxFX offers credit card, WebMoney, bank transfer, Qiwi, Skrill, or YandexMoney as payment method. For the deposit, there are no fees but for the withdrawal, there are some fees. The fees are depending on the account type. On some account types, you get free withdrawals.

The deposits are made instantly through some electronic methods. Sometimes the payment methods differ from your country. The duration of the bank wire depends on the bank. From my experience, the withdrawals are processed within 1 – 3 days. As regulated Forex Broker you can be sure that they withdrawal your profit.

FinmaxFx deposits methods

FinmaxFx support and service for traders

The last point I want to check in this review is the support and service for traders. As mentioned before webinars are possible with FinmaxFX. The support is working 24/5 per week in different languages. The main customer base is coming to form Europe, Russia, and Asia. Through my research, the broker wants to expand their offers to attract more clients.

The support is available as a phone, email, and chat for clients. In order to improve the skills of the traders, FinmaxFx is offering a huge education center for beginners and advanced traders. There you can learn new strategies, risk management, and more. From my experience, the broker knows how to support its traders to show them how to trade successfully.

Facts of the support:

  • 24/5 phone, chat, email support
  • Webinars
  • Education center
  • Acccount managers

Conclusion of the review: Is FinmaxFx legit?

In this review, we showed you the conditions for traders of FinmaxFX. It is an international forex dealer which accepts clients worldwide. You can trade more than 500 different assets on a reliable trading platform. The minimum deposit is very low and the broker got competitive spreads. In addition, you will get good support and education.

All in all, FinmaxFX is a legit Forex Broker for trading the financial markets. It is a new company which will expand the offers for traders.

The advantages of FinmaxFX:

  • Regulated offshore broker
  • More than 500 assets
  • Good supports (webinars, coaching)
  • Account types
  • Bonus program

If you search for a reliable Offshore Forex Broker then you should choose FinmaxFX (4 / 5)

FinmaxFX Review – is scam or good forex broker?

Trading Accounts and Conditions

Account type Min. deposit Min. trade size Max. leverage Spread
Micro $100 0.1 1:300 3 pips, fixed
Standard $2 000 0.1 1:300 3 pips, fixed
Premium $25 000 0.1 1:300 3 pips, fixed

FinmaxFX is an offshore forex and CFD broker that offers the above account types. In fact, we find the presence of three different accounts quite pointless, given that they offer one and the same trading conditions. Nonetheless, the main problem with this broker according to us is the legal status of this broker. Read on to get all the details.

Note that FinmaxFX does not establish accounts to residents of certain jurisdictions including Japan, Canada and the USA.

FinmaxFX Advantages

FinmaxFX offers its clients the MetaTrader5 (MT5). The presence of any of MetaQuotes’ platforms in a broker’s offering is always considered a positive.

FinmaxFX’s MT5. Click to zoom-in.

Released in 2020, MT5 actually shares a lot of similarities with its predecessor, the Metatrader 4. Their interfaces are almost the same and they share a lot of functionalities – the solid charting, the Expert Advisors (EAs), and more. However, the MT5 was originally designed for trading in stocks and commodities on centralized trading exchanges, apart from forex.

Still a sort of a drawback of the MT5 is the fact that most EAs developed for MetaTrader4 are not compatiable with the newer software.

Multiple CFDs, including on cryptocurrencies

Diversity is always a good thing, and as FinmaxFX offers more than 45 FX pairs, as well as various CFDs for trade, we must mention this in the Advantages section of the review. In fact, the offering of this broker features Contracts-for-Difference on commodities, indices, stocks and some of the most popular cryptocurrencies: Bitcoin, Ethereum, Ripple, Dash, Tron, Cardano, and others.

However, we would advise those who are into Bitcoin and other digital assets to check pout our list of reliable forex brokers who offer that kind of trades.

Maximum leverage up to 1:300

FinmaxFX offers comparatively high leverage levels, reaching 1:300. High leverage ratios allow traders to open larger positions, while not investing large sums. That is why we consider it as an advantage, although leverage levels that high increase significantly the risk of losses.

Many payment methods

Clients of FinmaxFX are able to deposit and withdraw to and from their accounts via bank wire transfer, credit/debit cards, and e-payment systems such as Skrill, WebMoney, Yandex, RBK Money and others.

FinmaxFX Disadvantages:

The most obvious weak side of this broker is the lack of decent regulation. FinmaxFX is operated by Max Capital Limited, a company allegedly based in Malta, but registered offshore (in the Seychelles). Offshore brokers are not to be trusted in general, as they are in fact not any under financial regulation, no matter what they claim.

Yet, the situation with FinmaxFX seems slightly better, as it is a member of Russia’s National Association of Forex Dealers (NAFD, formerly known as CRFIN).

High fixed spreads

Spreads at FinmaxFX are fixed 3 pips on EUR/USD on all account types, and this is a very high cost of trading. Most brokers usually offers fixed spreads of 2 pips or floating ones averaged 1.5 pips for this pair or even lower.


FinmaxFX is a Russian MT5 broker registered offshore that provides online trading in wide range of financial instruments. Although it also offers several account types, spreads on all of them are quite high. Yet, what bother us most with regards to FinmaxFX is the lack of reliable financial regulation.

For example, we consider as such the regulation of forex brokers in the UK, Australia or Cyprus. The respective governmental agencies have set up licensing regimes for financial services providers, with serious capital adequacy requirements and various standards and procedures to be followed. Besides, most financial regulators in the EU also have compensation funds in case a regulated entity goes bankrupt.

Here are, once again, the weak and strong sides of FinmaxFX:

Pros Cons
Many CFDs, including cryptos Registered offshore
MT5 available High spreads
Various payment methods
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Trading 212 Review

Trading212 is one of the most famous brokers in the world in 2020. It is known for offering CFD services (Contract for Difference) on the most commonly traded assets like Forex, commodities, indexes and stock market shares. Although, we consider Trading 212 to be a good broker, if you are not yet using their services, we think that it might be a good idea for you to take a closer look at Plus500 which does not charge comissions – click this link to go there . The reason we think that it is worth knowing Plus500 is that it is one of the leading CFDs provider at the moment. If you would like to learn more about Plus500, we invite you to visit their official website by clicking the button below (76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money).

In this review of Trading212 we will do a complete analysis of the elements that we consider investors should keep in mind. Before using an online broker’s services, traders should collect the most possible information about it, and we will be looking at some of this information starting with safety. After we have done that, we will take a closer look at the fees charged by Trading212 . We will also see what the alternatives to this broker are. To end this article, we will make a summary of our opinions concerning this online broker.

Tabla de contenidos

Regulation and Safety: Is Trading 212 a scam?

The first thing you need to know is that Trading212 is the trademark of two companies named Avus Capital Uk Ltd. and Avus Capital Ltd. Being the property of another company is not something unique to Trading212, this is something which occurs with almost all online brokers. The great majority are property of other companies which are the ones registered with the supervisory and regulatory bodies. Now that we have established this information, we can take a closer look at how this broker is regulated. This regulation and oversight is what will tell us if Trading212 is to be trusted or not.

The parent companies of Trading212 are authorized and overseen by the FCA, which is one of the most well-known and reliable regulatory bodies in the world. No wonder, since it is the main regulatory body of the United Kingdom. While it is not impossible for a regulator to be fooled by a scam, the regulators at the FCA are among the best in the world. Also, being a broker from Bulgaria, it is registered with the Bulgarian Commission.

To all this we can add the fact that it complies with European regulations, because it has, among other things, insured accounts to augment the safety of its investors’ funds. With this insurance, the funds deposited by traders are not in the hands of the directors of the company. In the past, there have been cases of brokers who would use the money of their clients to offset their payments, but with this type of regulation, safety is greatly increased.

To close this section on safety, we should say that it is impossible to say for sure if a broker is totally safe, but we can say for certain that Trading212 has fulfilled all the safety requirements which can be expected of it in 2020.

As you undoubtedly know, trading has a cost. No broker allows investing for free, since on top of their need to cover operational costs, their intention is also to make a profit. Since trading costs money, if you would like to save yours, you should seek out an online broker which allows you to trade as cheaply as possible.

Luckily, in this day and age, very few brokers charge commissions for investing and Trading212 is not one of these. Previously, when you wanted to buy shares you would be charged a commission; when you were paid your dividends, you would be charged again, and when you sold your shares you would pay yet another commission. With products such as CFDs this practice has changed, and now you can trade with commodities such as oil or currencies on the Forex market without paying these types of commissions. However, Trading212 has a slight downside, to trade CFDs on stock shares you do still need to pay a small commission. You also have to pay fees which the broker receives in the form of spreads.

You will also have to pay a small commission when depositing money into your Trading212 account. This commission is between 0.7% and 3.5% depending on your chosen payment method.

With so many online brokers in existence in 2020, and with the help of technology, which not only reduces operational costs, but also allows companies to have clients from all around the world, the need to pay in order to invest seems to us like something from a bygone age. For this reason, although the commissions and fees charged by Trading212 are not high, they are higher than those of their competitors. We would like to reiterate that Plus500 does not charge any commissions for depositing funds or for trading, and their spreads are low. That having been said, if you would like to read more about their conditions, click here (76,4% of retail CFD accounts lose money).

Trading Platform

Surprisingly, Trading212’s trading platform is not MetaTrader 4, but rather a proprietary one. This is not to say that a proprietary platform is a bad thing, it may even be a positive thing if the platform is of good quality, but it is clear that the majority of CFD providers use the MetaTrader 4 platform.

The platform allows investing from literally anywhere in the world, since it can be accessed from a computer, but also from any smartphone with an iOs or Android operating system. Moreover, it offers trading signals and has advanced graphics which allow the user to perform technical analysis. It is even possible to place a trade from the graphics themselves – it resembles ninja trader in this respect. You are also able to perform several operations on the same trading pair, investing at both high and low points. This type of operation is known as scalping. It goes without saying that leverage is allowed, the level allowed does however vary with the asset being traded.

Recently, they have released traderbird, which is a social network created in order for investors to participate in, and to copy the trades of other investors. It is also possible to do the opposite, meaning that if you are making many successful trades, people may start copying you. And now that it has been integrated with the broker’s platform, it may be an interesting feature for those people interested in social trading.

We can summarize this point by saying that the Trading212 platform is very easy to use. It offers all the services which a broker is required to and with a good degree of quality. The trading tools available are those that are necessary and the platform provides all the graphical trading signals investors might require.

Before concluding section on the trading platform, we are required to mention its famous demo accounts. Trading212 is known for offering 10 000 euros to its clients to try investing with. Obviously this is a simulator, and all the money is virtual.


On the internet, it is possible to find all types of opinions. From people who had horrible experiences – with some people even saying that Trading212 is a scam – to people who have been delighted with the platform’s performance, praising all its aspects. In our opinion it is neither as bad or as good as is being claimed.

Our opinion of the platform is good. What’s more, we feel that the regulation to which this broker is subject is adequate. We also have a good opinion of something which we have not yet talked much about. The demo account offered by Trading212 is of good quality and you can use it for as long as you like.

Among the things that we have a bad opinion of, are the costs for investors. We don’t think it is a good idea to charge traders for investing funds, and we have found comments to this effect on various forum pages and reviews. Another point about which there have been many negative comments is the welcome bonus, or rather lack thereof. Trading212 has no welcome bonus and to receive one you will need to seek out an alternative online broker.

Review Summary

Surely reading this entire review has taken you some minutes to do. When doing an in-depth analysis, there are many aspects to take into account. For this reason, you may still be a little confused, and we would like to offer you a list of all the most salient positive and negative aspects of Trading212, to hopefully clarify things a little bit. At the end of this review is a link for the broker we spoke about earlier, one which we feel is worth getting to know.


  • Famous for its demo account
  • Maximum reliability
  • Sophisticated trading platform
  • Great selection of trading tools
  • Social trading through traderbird


  • High trading fees
  • The CDFs for stock shares have commissions

It has come time to end this review, and although we have given our opinion of Trading212 all throughout this article, we think that it would be a good idea to summarize it again in a few words. Although Trading212 is a very good broker for investing in the Forex market, trading CFDs, stock shares and commodities, Plus500 is one of the leading platforms (76,4% of retail CFD accounts lose money).

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  • Binomo

    2 place in the ranking!

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