Promax

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

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.

Account Type

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

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.

Non-Trading Fees

Trading Platform

Deposit and Withdrawal

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