Finmax Review 2020

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Finmax Review

Introduction

Finmax is a binary options broker operating in Sofia, Bulgaria, licensed in the Seychelles and trading since 2020. While a relatively new broker, they have a bespoke trading platform, developed specifically for them on which they offer an extensive range of expiry times ranging from 60 seconds to 4 months options, offering a whole host of other trading features.

This particular binary options broker offers upwards of 75 assets, including all of those that you would expect from a broker including metals, oils, indices and currency pairs. Their bespoke trading platform supports mobile trading, and with a large proportion of Russian traders, the website is available in both the English and Russian languages.

When deciding if Finmax is the right binary options broker for you, there is a lot to consider. Research can take time, which is why we have done the hard work for you. From trade and account types to customer support and information about deposits and withdrawals, we bring you all the information you need to make a decision when it comes to choosing who to trade with.

In this review, you will learn:

    The details of the different account types on offer Minimum deposit requirements and their bonuses Any special unique features offered by Finmax

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

The different account types available from Finmax very much depend on the level of investment you are prepared to make. If you are hoping to make some good returns from your binary options trading experience, then you need to consider how much profit you can make at $5 per trade with a $250 deposit. For those who want to invest more, there is a range of accounts to choose from, all of which require a different level of deposit.

Bronze Account

Bronze account holders can open an account for a minimum deposit of $250 which gives you access to trades on more than 75 assets including currency pairs, assets, stock and indices and bonuses of up to 25%. At a minimum of $5 per trade, it is an excellent account for those that are new to trading and want to get used to the site before increasing your level of investment and upgrading your account.

Silver Account

One month access to trading signals and a personal account manager are all benefits that a Finmax silver account holder can expect for their $1,000 deposit. This is the most famous account offered and a good step up for those who are already familiar with binary options trading or those who want to deposit more than the basic $250.

Gold Account

If you want to raise the stakes and are looking for more from your trading experience then for a deposit of $5,000, as a gold account holder, you will benefit from withdrawals that only take 24 hours to process as opposed to longer times with the bronze or silver accounts. The bonuses on offer are also increased to up to 75%, and there are other educational tools available.

Platinum Account

With a deposit of $25,000, platinum account holders can benefit from several additional features offered to gold account holders including +4% of return per each trade. This account is more suited to the more serious binary options trader that has a certain degree of experience in trading. Educational tools including webinars, videos, daily analytics and unlimited trading signals are also available to those who open a platinum account.

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    Only For Experienced Traders.

VIP Account

As you would expect, a VIP account gives you all of the benefits of the above accounts and much more. The minimum deposit is $100,000, and account holders can benefit from up to 100% bonus as well as a wealth of other tools and benefits including a manager that is available 24/7 and an all VIP webinars access.

Trade Types And Payouts

While some brokers offer an infinity of trade types, others prefer to keep it simple and offer a select few, especially when their platform is aimed at those who want to simplify their binary options trading. Finmax offers just the two trade types which are:

High/Low Trades

As the name would suggest, high/low trades are when you predict whether the price of the asset currently will go up or down in the specified expiry time. Otherwise known as call/put options, the call is when the price goes above and put is when the price goes below the cost of the asset at the time of placing the trade.

High/Low Trades

Similar to the high/low option, the above/below trade type is predicting whether the asset will finish more upper or lower than the price, only it is the specific price set by the broker. Again, there are many names for these types of options, so it is essential to understand exactly what you are trading on. Another name you may see in addition to above/below or high/low is over/under.

Some brokers like to boast payouts that seem too good to be true, which is often an indication that they are just that. This particular broker offers returns of 70-80%, which are realistic, but there are higher payouts available for platinum or VIP account holders. When choosing a broker, be careful not to be drawn into those that are offering more than 90%.

As we discussed in the introduction to Finmax above, this particular broker offers a vast range of expiry times from short 60 second options, daily, weekly, monthly and to 4 months. Many brokers offer no more than expiry times of a few weeks, and not everyone provides short expiry times like 60 seconds. This means that there is something for everyone whether you want quick wins or are happier to play the long game with your investments.

Many unique features are available when you open an account with Finmax.

Bonuses And Promotions

For some traders, the bonuses and promotions on offer can make a big difference as to the decision to choose a particular broker. If it’s bonuses that you are looking for, Finmax offers welcome bonuses and deposit bonuses of up to 100% depending on the level of account that you open.

In addition to this, they also offer promotions to win prizes such as holidays as well as money back promotions on particular trades.

Mobile Trading

As with most things now, technology allows you to complete many actions from your mobile phone. This includes mobile trading. To keep up with trader requirements, it is critical for binary options traders to offer you the ability to trade on the move.

Finmax offers you the opportunity to not only trade on desktop but also iOS, Windows Mobile and Android mobile devices. This means that wherever you are, and whatever you are doing, you are never far away from your next trade.

Deposits And Withdrawals

The minimum deposit required to open an account with Finmax is $250. This offers you the introductory bronze account level. To start trading, as long as you have cleared funds, you can begin trading upon depositing your funds. If using a debit card or credit card, this is instant. Withdrawal times vary depending on the level of account you have.

This can range from 24 hours to a few days. Withdrawals will be processed and returned by the same method they were used to make the initial deposit.

Special Features

There are many unique features available when you open an account with Finmax. We have already mentioned their bespoke platform, but perhaps one thing that we should highlight is their extensive educational tools which include videos, e-books and webinars in addition to their comprehensive analytical tools.

There is also a demo account available once your account has been opened and verified, which means you can try out the platform before you start trading with real funds.

Customer Support

24/7 online chat, email and telephone. If you visit the contact us page, you will see that there are telephone numbers for Cyprus, London and Toronto, Canada. These telephone numbers are operating between the hours of 8 am and 8 pm.

On both the desktop and mobile devices, there are bottom right-hand corner icons to allow you to call the support team while on desktop, you can start an online chat. When it comes to customer support with languages in both English and Russian, they are an accessible broker.

Here are the contact details for Finmax:

    Email – [email protected] Phone – +44 203 807 4841 Address – IK Partners Ltd, Suite 305, Griffith Corporate Centre P.O. box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines

Conclusion

In conclusion, there is a lot to like about Finmax. 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.

The trade types are simple, and if you are new to trading, there is the option to start low. With recognised licensing and a good trading platform, we think that this is a great broker, for those that are both new to trading and those who have a more established background.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is Finmax legit, will they scam me?

Finmax is licensed and regulated in the Seychelles with offices in Cyprus, London and Toronto. Their licensing means that they follow a strict code of conduct.

Do they have a decent mobile or tablet app?

As a relatively new binary options broker, Finmax is at the cutting edge of technology. With a bespoke trading platform developed specifically for them, they understand the importance of mobile trading.

What bonus do they offer new traders?

There are several levels of bonus offered to new traders starting at up to 25% for a bronze account. There are also other promotions, including the chance to win a holiday.

Can I start trading on a free demo account?

Upon opening an account with Finmax, you will be granted access to the demo account. It is important to note that you must open an account with a deposit in the first instance.

What’s the minimum deposit and trade amount?

The minimum deposit required to open an account with Finmax is $250, which will get you the basic bronze account. Once you open an account, the minimum trade amount is $5.

Jacob has been an author for us since our launch in 2020. He has over forty years’ experience in the financial sector and has held a variety of positions within financial services corporations and venture capitalist organisations.

Finmax Review 2020

Finmax Review 2020

Finmax is a CFD and binary options broker that has been on the market for more than two years now. This was enough to spark our interest, so we decided to check their website out to see what’s going on there and how they’ve managed to survive in an industry as demanding as this one.

It turned out that our time there was time well spent because we found out many interesting facts and tested many interesting features. Therefore, we really have a lot to discuss in this Finmax broker review, and you certainly don’t want to miss out on this article if this is the kind of trading that interests you.

Once you reach the end of this text, you just might want to become this company’s client. Let’s go!

– personal manager with every account

– great and quick trading platform

– excellent mobile app

– low withdrawal requirements

– risk free trades

– higher account types increase trade profitability

– numerous payment methods

– demo lasts only seven days

– do not accept traders from some countries

Finmax Review | Account types

Before you can start trading, you need to create an account. Finmax binary options trading can be done from four different account types, 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.
The first and most basic Finmax account type is the Bronze Account, which can be opened with a deposit of 250 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. However, as you climb the account ladder, things get more interesting. 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. 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. Finally, the final Finmax account is the Platinum (VIP) Account with its 4% profit increase per trade, VIP webinars and several other features we will mention a bit later in this Finmax review. 25,000 USD will be needed for this package. As you can see, you will have everything you need to trade both binary options and CFDs, no matter which account type you choose. But since we have already brushed upon the deposits in this paragraph, let’s go ahead and clarify that aspect of this website in the next. Stay with us!

Finmax Account Types

Finmax Review | Deposit

OK, so you know which Finmax account you want. How do you deposit? Well, Finmax deposit can be made in a wide variety of ways. Naturally, you can use bank wire transfers, but Visa, Visa Electron, Maestro and MasterCard are your options, too. On top of that, you can also use things like Qiwi, Neteller, Skrill, WebMoney and Yandex, which is certainly a very strong line-up. Not only that, but you can rely on this broker to treat you fairly. Our “Is Finmax a Scam?” article has more on the security here, but things definitely work as they’re supposed to.

Minimum Finmax deposit is set to 250 USD, so we can say that this requirement is fairly average when compared to other binary options brokers. However, the minimum trade is only 5$, which means you have more than enough to trade even with the most basic initial investment. You don’t have to worry about any deposit fees either because Finmax deposit carries none, although do be careful when using a wire transfer because the bank will probably charge you something for the transaction. All deposits will be visible immediately in your account, with the only exception to that being once again wire transfers which can take up to three working days to appear. But with a deposit here, you will also get something extra as a token of appreciation. Find out what we mean in the next part of Finmax review.

Finmax Deposit Methods

Finmax Review | Bonus

Finmax bonus policy covers a couple of types of prizes. First, you have the risk free trade, which will be your first trade on the broker’s platform. This trade can go up 1000 USD and not above it, so if your first investment doesn’t turn out to be successful, you will get your money back and be able to start again without any losses. No harm, no foul.
You also have the possibility of receiving the Finmax welcome bonus. The size of this bonus will depend on the size of your deposit, i.e. the account type you decide to open. For the Bronze Account you will get 25% of your deposit added to your balance, and as you go towards the VIP account, this bonus will increase by 25% each time, only to reach 100% in the end. To become eligible to withdraw your bonus, you will have to turnover every dollar you get this way 40 times. This is a standard requirement in the industry, and the number given here is actually fairly average. Once you gather all of your resources and are ready to start trading, the place to go is the broker’s trading platform. It creates a very interesting trading environment, so the following part of Finmax broker review will take a closer look at what you get there. Stay tuned!

Finmax Review | Trading platform

Like we said earlier, Finmax financial services can be boiled down to two main types of trading – binary options and CFDs. This is all done on an excellent trading platform which is based on Tradesmarter software. This is a not very common choice among brokers, but we are very happy to say that it performs perfectly. You have two types of binary contracts here, High/Low and Above/Below. The latter is a variation on the former because the broker sets the levels and you have to guess whether the price will go above or below them. Expiry times range from six seconds to six months, and you have about 90 different assets to choose from. Commodities, stocks, indices and currency pairs are all there for your convenience, plus they can also be traded as CFDs.

Finmax trading platform accepts three different types of currencies: USD, EUR and RUB. However, what sets this platform apart from its competition is its speed of execution. It is very responsive and quick, but it also offers a big innovation in the form of social trading. Finmax Social Radar tracks the best traders around you and allows you to copy their trades while imposing your own limits on the investment. In other words, you can adjust your trades to your trading style. We already mentioned signals and the economic calendar, but with Finmax trading platform you also get news, advanced charts and various types of analyses. All of this is not restricted to your desktop computer, however, and we will further investigate that in the next part of our Finmax broker review.

Finmax Trading Platform

Finmax Review | Mobile app

Obviously, all Finmax financial services are provided online. Therefore, it is quite logical that you can also use a Finmax app to do whatever you need to do on the market. The app is at the moment only available for Android devices, whereas the iOS version has been discontinued, but there still is a chance that they will bring it back. In any case, the app is free to download from Google Play (as was on the App Store), so let’s take a look at what you get with it.
Once you download this piece of software, you will gain access to all Finmax financial services on your mobile device. Just like the desktop trading platform, it also draws market data from Leverate, offers non-stop customer support, numerous charts, indicators and many other trading features. However, the Finmax mobile app also has a huge advantage in that you can start depositing with only 10 USD with it, which is one of the lowest requirements of this kind in the industry. Of course, the economic calendar is available here too, plus the app also has the ability to provide you with Finmax binary signals. Naturally, everything is very well designed, so you should have no problem finding your way around here. It seems that traders share our opinion because the app has received some pretty good reviews since its launch and people seem pleased with what it offers. But there is another way you can approach this platform, one that includes no financial risk. Continue with our Finmax review to find all about it.

Finmax Mobile App

Finmax Review | Demo account

Every serious broker will provide you with the possibility to see how their platform works without you having to invest anything. That’s just common decency; so naturally, you can open your Finmax demo account. And it’s pretty simple to do it, too – your only task is to fill out a short form containing your name, e-mail, country and phone number, and then to confirm you e-mail address. That’s all there is to it. After that, all you have to do when you wish to trade is complete the login.
Finmax demo account will provide you with a free trial lasting seven days, during which you can test all financial services available here, as well as get a pretty good idea of what kind of trading experience to expect. In terms of trading options, there are no limits here, so you have plenty of time to examine everything thoroughly and to reach a conclusion whether or not Finmax trading is for you. Of course, this also goes great with the broker’s numerous educational materials which include videos, webinars and strategy articles. Therefore, you have pretty much everything you need to prepare yourself. And once you achieve profit, you will want to withdraw those funds. This is a process with several important factors, though, so the following part of our Finmax broker review will be a bit longer.

Finmax Review | Withdrawal

So, after all is said and done, you want to make a Finmax withdrawal. What are your options? Well, you will need to withdraw the funds the same way you deposited them, so the payment methods in this case are the same as when you’re depositing. Remember that you have to verify your account before a Finmax withdrawal can be executed (you will need a proof of identity, like a passport or an ID card, a proof of residence, like a utility bill, a proof f your payment and a declaration of deposit for that).
The minimum Finmax withdrawal requirement is quite low – only 25 USD, or 50 if your method of choice is a bank transfer. Compared to a lot of other brokers, this gives you loads of manoeuvring space with your trading funds because you get to micro manage them and plan in much greater detail. Just don’t forget to include withdrawal fees in your calculations. They will be charged depending on the type of account you have and the method you use, but regardless of that the first withdrawal is on the house. After that, Finmax withdrawal fees range from 0.9% to 3.5% (with a fixed 25 USD fee for bank transfers). However, there is a way to avoid this because if you become a holder of the Gold Account you will get one free withdrawal per month, whereas if you opt for the Platinum Account, you will be completely free from paying any extra costs for these transactions. By choosing these two accounts, your withdrawals will also be processed within 24 hours, whereas usually that process takes up to several days. There is a lot to digest here, sure, but the bottom line is that the process is fair and that it offers some very interesting possibilities. Let’s move this Finmax review on then and see what else we still have to discover.

Finmax Review | Other interesting features

Online trading with Finmax also gives you an opportunity to try out some features that are not that common in the industry. For example, you have the option of opening a special Islamic Account if you want to trade in full accordance with this religion. Just contact the support once you log in, and they will show you what needs to be done to change your account to this particular type.
We also have to warn you of the Finmax inactivity fee, just so you’re aware that this exists too, but it will only trigger after you do not execute any trades for 12 months. After that, you will be charged 25 USD every month until your account balance reaches zero.
Finmax social trading has already been discussed in this article, as were news and various types of analyses you can get here, but we have to address the countries that are not accepted on this website. These include US, Canada, Israel, Singapore and France, but all other countries should be available. If you have any other questions, though, do not hesitate to contact the support. This next part of Finmax broker review will show you how to do it and what to expect.

Finmax Social Trading

Finmax Review | Support and contact

Having a reliable support team at your side can mean a lot, especially if you’re a new trader. It makes things a lot easier when you have someone to talk to and gain information from. Finmax support crew is composed of seasoned traders who know everything there is to know about the website and trading in general. They are always quick to respond and value your time, so you they won’t ever hold you for more time than is needed.

Available Finmax contact methods include live chat, e-mail and phone numbers for six different countries (Italy, Bulgaria, Canada, Australia, UK and Cyprus), but you can also contact the support via social networks. These include Facebook, Twitter and Google Plus, and the broker also has its own Youtube channel, which means you can easily reach them on any of those websites. We can also include the FAQ section in the Finmax support category because the questions there really should provide you with a decent alternative if you can’t contact the team members during their office hours (8 AM to 8 PM, GMT+3). As you can see, you will be well taken care of, which is just another aspect of the company’s offer that has passed our test. But is there any part of the website that you need to worry about? Find out in the following part of Finmax review.

Finmax Review | Complaints

Is there a reason for Finmax complaints? Well, if you’ve read everything we have written so far, you can see that we didn’t find any. That is not to say that we didn’t encounter any Finmax complaints at all, mind you, but after testing the broker for ourselves, we can’t get behind anything people have against this company.
The platform performed admirably with fast executions and the latest data, and Finmax support was always quick and efficient when we needed clarification. Furthermore, our money was always treated well, so there were no withdrawal problems of any kind. On top of that, nobody that had a Finmax complaint could support their claims with some kind of solid proof after we’d ask them to. But please don’t understand this as a claim that people don’t like trading here. Quite the contrary, most traders are very satisfied with what they get from their online trading experience here. This is particularly true for people who have been a part of this industry for a while now and know exactly how things work. Rookies will sometimes have Finmax complaints about the fact that you can’t withdraw from a demo account or something like that because they still don’t have the full grasp on how things work in this business. Experienced traders support us, and that’s quite a big satisfaction, to be honest.

Finmax Review | Conclusion

We have now reached the end of our Finmax broker review and have absolutely no problems recommending their website to you after all we have seen. Several Finmax account types, risk-free trades, bonuses… these are just some of the features that guarantee you’ll have everything you need here. Finmax trading platform is also excellent and based on a type of software that is not that common in this industry, so even if you’re a seasoned trading veteran you will have a lot to explore and discover. Don’t worry; everything works perfectly. What is particularly interesting about this platform is that it comes as a Finmax app which reduces your minimal financial requirements significantly. Of course, you will have excellent support all the time here, which helps things go along very smoothly. We don’t even have to say that the broker is fair and the feedback from other traders good. In short, our Finmax review has yielded only positive results, so if you’re the kind of trader who likes to trade binary options and CFDs, this will be the perfect partner for you. Open an account with them now and enjoy the experience!

CFDs and binary options with Finmax – get started today!

Invest in the future together with us today!
Make money on the most fast-growing market!

Open an account and get up to three risk-free trades for a successful start with FINMAX

Advances education center for FINMAX traders, you will find everything you may need for a successful start: e-books, videos, articles, analytical notes and more.

Get access to the educational video from our analysts

Don’t miss an opportunity to trade profitably now with the best traders from all over the world

High Payouts up to 90%

Finmax / how it works?

The advantages of FINMAX

More than 70 assets

(currency pairs, indices, stocks, commodities)

Earn with us

Country Date Name Amount
30.03.2020 Glen G. $ 981
30.03.2020 Eeva E. $ 1087
30.03.2020 Mukarramma M. $ 885
30.03.2020 Arnatt A. $ 1683
30.03.2020 Joandra J. $ 1403

Four steps to start trading

New User Registration

Select the underlying asset and contract’s expiration time

Determine whether the price of an asset is above or below the current price by expiry time

Select the investment amount for the purchased option and open an order

Awards and certificates

Welcome to the Binary Options FiNMAX website, a source for traders to have a successful binary options trading experience.

After its appearance in 2008, Binary Options trading quickly gained popularity due to simplicity of the process, minimized risks and extremely high returns.

  • – Transactions from 1$
  • – Payments up to 92%
  • – Free Withdrawal
  • – Personal manager
  • – Does not require investment
  • – There is no withdrawal of funds
  • – Limited opportunities

You can choose the needed type of account at any time!

Please, be aware that Binary Options trading is risky. Any operation with Binary Options should be done in compliance with your objectives, risk and money management. FinMax sells Binary Options at a price which may differ from the current market quotes. Only admitted users may trade with FinMax. In case of any legal restrictions you are not allowed to create an account. US traders are not admitted. To get further information, please be so kind to study with particular attention our Agreement.

Operational office address: 14 Tsar Osvoboditel blvd. Sofia 1000, Bulgaria.

The use of any advertising materials, logos, links and site content by third parties is possible only with the written agreement of the copyright holder.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Binary Options Broker 2020!
    Best For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-Up Bonus Now:

  • BINOMO
    BINOMO

    Only For Experienced Traders.

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