FinmaxFX-Some Detailed Information about This Broker

General Information& Regulation

FinmaxFX is a Forex and CFDs broker based in Vanuatu. It is operated by Max Capital Limited, licensed by the Vanuatu Financial Services Commission (VFSC) under License No. 41072 and International Financial Market Relations Regulation Center (IFMRRC) under License No. TSRF RU 0395 AA V0150.

Market Instruments

FinmaxFX offers investors a range of financial instruments, including Forex, Stocks, Cryptocurrency, Energy carriers, Spot metals, Share Indexes, Commodity Futures, Bonds, etc.

Accounts & Leverage

Finmax FX offers 6 different account types. These are micro, mini, standard, standart+, premium and VIP account types. The Micro account can be opened with a deposit of as little as $250. $1,000 is sufficient to open a Mini account. Opening a Premium account requires a minimum deposit of $25,000. The base currency of trades is USD, EUR, and RUB for all account types. The maximum leverage is up to 1:200. The starting spread for the VIP account is 0.8 pips and 1.8 pips for the other five accounts.

Trading Platform

FinmaxFX provides clients with access to the MetaTrader 5 trading platform available for desktop and mobile devices.

Deposit & Withdrawal

FinmaxFX does not charge any fees for withdrawal. However, it is impossible to withdraw money without passing the verification procedure. Traders can deposit and withdraw profit using credit cards, wire transfers, as well as Skrill, Neteller, WebMoney, Yandex Money, Qiwi Wallet, and ePayments electronic payments.

Trading Hours

The forex market allows trading round the clock, from Monday to Friday. On weekends and holidays, the markets are closed. The trading hours of the forex market depend on the sessions. For example, in the Asian session, the forex market center in Tokyo, Hong Kong and Singapore opens from 00:00 to 08:00. In the European session, the center in London opens from 05:00 to 13:00. In the American session, the center in New York opens from 12:00 to 20:00.

Accepted Countries

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

Customer Support

The brokers customer support is available during working hours (08:00 to 20:00 — GMT +3) via telephone and email.

Education

On the broker's Education page, you will find a selection of educational resources to help you hone your trading skills, including webinars, glossary, video lessons, and E-books.

Risk

Trading foreign exchange on margin carries a high level of risk, can result in losses and may not be suitable for everybody. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange or Contracts for Difference (CFDs) you should carefully consider your trading objectives, level of experience, and risk appetite.