Promax

WikiFX | 2025-05-30 11:26

Abstract：　　Promax Trading, founded in 2018, offers access to forex, commodities, stocks, and indices with competitive conditions and the popular MT5 platform. It features high leverage up to 1:500 and a low minimum deposit of $200, appealing to both beginner and experienced traders. However, it lacks strong regulatory oversight, raising concerns about transparency and fund security.

Promax Trading Review Summary
Founded	2018
Registered Country/Region	Saint Lucia
Regulation	No regulation
Market Instruments	Forex, Commodities, Stocks, Indices
Demo Account	✅
Leverage	Up to 1:500
EUR/USD Spread	1.3 pips (Starter account)
Trading Platform	MetaTrader 5 (MT5)
Minimum Deposit	$200
Customer Support	Phone: +971-42632-571
Customer Support	Email: support@promaxtrading.com

Promax Trading Information

Promax Trading, founded in 2018, offers access to forex, commodities, stocks, and indices with competitive conditions and the popular MT5 platform. It features high leverage up to 1:500 and a low minimum deposit of $200, appealing to both beginner and experienced traders. However, it lacks strong regulatory oversight, raising concerns about transparency and fund security.

Pros and Cons

Pros	Cons
Wide range of tradable instruments	No regulation
Demo accounts	High minimum deposit
Supports the popular MT5 platform
No deposit/withdrawal fees

Is Promax Trading Legit?

Promax Trading is not a legitimate broker. It is registered in Saint Lucia but holds no valid regulatory license from the local authority or any official body. Major global regulators like the FCA (UK), ASIC (Australia), and NFA (USA) also do not license or oversee its operations.

The domain promaxtrading.com was registered on December 26, 2019, and will expire on December 26, 2030. It is currently in a “client transfer prohibited” status, which means the domain is locked to prevent unauthorized transfers or changes.

What Can I Trade on Promax Trading?

Promax Trading offers a range of tradable instruments including forex, commodities, stocks, and indices.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Stocks	✔
Cryptos	✖
Bonds	✖
Options	✖
ETFs	✖

Account Type

Promax Trading offers four types of live accounts: Starter, Premium, Ultimate, and PAMM. It also provides a demo account for practice.

Account Type	Minimum Deposit	Maximum Leverage	Spread	Commission	Suitable for
Starter	$200	1:500	Variable	$0	Beginners, small-scale traders
Premium	$5,000		From 0.0 pips	$8	Active traders needing tight spreads
Ultimate	$25,000		From 0.0 pips	$5	Professional, high-volume traders
PAMM	$500		Variable	$0	Investors using managed accounts
Demo	/	/	/	/	Practice, strategy testing

Leverage

Promax Trading offers leverage of up to 1:500. Note that high leverage can amplify not only profits but also losses.

Promax Trading Fees

Compared to industry standards, Promax Tradings fees are relatively competitive, especially on its Premium and Ultimate accounts with spreads starting from 0.0 pips, though commissions apply.

Symbol	Starter Account	Premium Account	Ultimate Account
EUR/USD	1.3 pips	0.0 pips
AUD/USD	1.3 pips
GBP/USD	1.6 pips
NZD/USD	1.3 pips
USD/CHF	1.3 pips
USD/CAD	2.1 pips
USD/JPY	2.1 pips

Non-Trading Fees

Non-Trading Fees	Amount
Deposit Fee	0
Withdrawal Fee	0
Inactivity Fee	Not mentioned

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
MetaTrader 5 (MT5)	✔	Windows, Mac OS, iOS, Android	Experienced traders
Web Terminal	✔	Any web browser (desktop, mobile)	/
Mobile App	✔	iOS, Android	/
MetaTrader 4 (MT4)	✖	/	Beginners

Deposit and Withdrawal

Promax Trading does not charge any deposit or withdrawal fees. The minimum deposit is $200.

Payment Method	Minimum Deposit	Fees	Deposit Time	Withdrawal Time
Skrill	$200	0	Up to 2 hours	Up to 24 hours
Direct Debit / Credit Card
Webmoney
Neteller
Bank Wire			3–5 business days	3–5 business days
UnionPay			Up to 2 hours	Up to 24 hours
Knet
Fasapay