Finmax-Overview of Minimum Deposit, Spreads & Leverage

General Information & Regulation

Finmax is a relatively new online binary options broker. Launched in 2015, its a subsidiary of the Morris Processing Limited. The holding company is registered in the UK with their headquarters located in London. Finmax also has an operational office located in Sofia, Bulgaria. Finmax is not subject to any regulate at this stage.

Markets Instruments

Finmax advertises that it provides an innovative platform that offers traders more than 75 assets for trading in indices, equities, commodities and currency pairs on major financial markets.

Minimum Deposit

There are four different account types to choose from at Finmax. The Bronze account can be opened with a deposit of as little as $250, and $1000 is sufficient to open a Silver account. Opening a Gold account requires a minimum deposit of $5000, and A Platinum VIP account may be opened with a negotiable, larger minimum deposit.

Commissions

Like most online brokers, Finmax doesnt charge a commission on trades. With regard to fees, the platform will deduct a withdrawal fee for Bronze, Silver and Gold accounts.

Trading Platform Available

The only trading platform offered by Finmax is their proprietary platform. No download is necessary and the platform can be accessed by clicking the platform tab after completing the account registration. The platform comes with an inbuilt, unique app called “Social Radar”, which adds a social trading element to the Finmax experience. It allows a user to spot Finmaxs leading traders and to copy what these winners are doing to a certain extent, including making the same trades as them in real time.

Deposit& Withdrawal

The minimum deposit amount is $250 or its equivalent in another currency. Funding can be done using credit and debit cards--Visa and MasterCard, as well as Qiwi Wallet and WebMoney. Withdrawals may be made in the same manner as deposits.

Customer Support

Customer support is maintained in the U.K., Bulgaria, Cyprus, Australia and Canada. Traders can contact a Finmax representative by telephone or skype during working hours and can use email anytime of the day.

Educational Resources

The Finmax website offers a wide choice of educational material. There are a range of videos on several topics including trading psychology and options trading strategies, as well as a platform overview and binary e-book.