spreads, leverage, minimum disclosed deposit of FXPremax

Regulation and general information

FXPremaxIt is owned by Premnax Capital Ltd and claims to be located in London, UK, but no such address has been found. FXPremax it is not currently regulated in any way.

market instruments

FXPremaxoffers investors 70 tradable instruments, forex, spot oil, metals and cfds on major indices.

minimum deposit

FXPremaxoffers investors four different trading accounts, micro stp, standard fixed, standard stp and ecn accounts. FXPremax does not require a minimum initial deposit to start trading or open an account.

leverage FXPremax

in terms of forex trading, the maximum level of leverage offered by FXPremax It is very high, reaching up to 1:1000. Since leverage can amplify both profits and losses, it is important for traders to choose the appropriate leverage level. Also, unregulated brokers tend to offer high trading leverage to attract traders, so inexperienced traders better stay away from these brokers.

Spreads and commissions

the charges of FXPremax They are spread as commission for all three accounts, while ECN accounts are spread starting at 0 pips, and the commission is 0.005% of the trading volume.

business platform

FXPremaxIt offers traders the most popular mt4 trading platform, but it is only compatible with mt4 desktop version.

deposit and withdrawal

FXPremaxhelps traders deposit and withdraw funds to and from their accounts via various methods such as international bank transfers and popular online payment methods including neteller, skrill, okpay, unionpay and fasapay.

Customer Support

customer service can be contacted FXPremax by phone, email, a contact form, as well as some social media platforms, such as facebook, twitter, instragram, etc.

pros and cons of FXPremax

the advantages of FXPremax to include:

1. Four types of accounts available

2. Multiple ways of deposits and withdrawals

the disadvantages of FXPremax include:

1. Not subject to any regulation

2. Only supports MT4 web version

3. Relatively high spreads and commissions

4. Do not accept US customers.

Available trading accounts

FXPremaxprovides a range of different business accounts because it appreciates that clients' needs can be different. It doesn't matter if you are a complete beginner or an expert trader, there will be something for everyone. the different account options are as follows:

Micro STP Account

• no minimum deposit

• Maximum balance USD 3,000

• 75 currency pairs, gold, silver

• Floating spreads from 1.9 pips

• Leverage up to 1:500

• Allowed Expert Advisors

standard fixed account

• no minimum deposit

• no maximum balance

• 74 currency pairs, gold, silver

• Fixed spreads from 3 pips

• Leverage up to 1:500 for accounts up to 25,000 USD, up to 1:200 for accounts from 25,000 USD to 100,000 USD and 1:100 for accounts with more than 100,000 USD

Standard STP account

• no minimum deposit

• unlimited maximum balance

• 74 currency pairs, gold, silver, CFDs

• Floating spreads from 1.9 pips

• Leverage up to 1:500 for accounts up to 25,000 USD, up to 1:200 for accounts from 25,000 USD to 100,000 USD and 1:100 for accounts with more than 100,000 USD

• Allowed Expert Advisors

• demo account allowed

ECN account

• no minimum deposit

• unlimited maximum balance

• 74 currency pairs, gold, silver, CFDs

• Spreads according to market, from 0 pips

• Commissions 0.005% of the transaction amount

• Leverage up to 1:500 for accounts up to 25,000 USD, up to 1:200 for accounts from 25,000 USD to 100,000 USD and 1:100 for accounts with more than 100,000 USD

• Allowed Expert Advisors

• demo account allowed

what FXPremax is it legit or a scam？

When looking for brokers to do your trading with, the first and most important step should always be to learn about their certifications. this will tell you if they are regulated by a central authority or if FXPremax is an offshore and/or unregulated entity.

When a broker is unregulated or is regulated by an entity outside of your jurisdiction, you have limited or no legal recourse in the event your funds are compromised. In case of theft, complaints can only be filed if that broker is licensed by the regulator in your jurisdiction. Some examples of regulatory authorities that issue brokerage licenses are:

• The Cyprus Securities and Exchange Commission (CySEC)

• The Financial Conduct Authority (FCA)

• The Australian Securities and Investments Commission (ASIC)

If a broker is not licensed by the regulatory authority in your jurisdiction, that probably means they are not regulated and should be avoided. Even if the brokerage is regulated, it's best to avoid it if the regulator is located outside of your jurisdiction.