8MAX -Overview of Minimum Deposit, Leverage, Spreads

General Information

8MAX is allegedly a broker based in Vanuatu that provides its clients with the worlds most renowned MetaTrader4 trading platform, flexible leverage up to 1:1000, low spreads on a variety of tradable assets, as well as a choice of three different account types.

Market Instruments

8MAX advertises that it offers a wide range of trading instruments in financial markets, which include but are not limited to 48 forex currency pairs, precious metals, energies, equity and indices.

Account Types

There are three live trading accounts offered by 8MAX, apart from demo accounts, namely Standard, 8MAXZero and MAM. Opening a Standard account requires the minimum initial deposit amount of only $5, while the other two account types with the much higher minimum initial capital requirements of $100 and 30,000 JPY respectively. Note that the MAM account will be charged a fee of 50% of trading profit monthly.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Standard or 8MAXZero account can enjoy flexible leverage ranging from 1:100 to 1:1000. To be more specific, clients holding the deposit amount of $5- $20,000 can enjoy the maximum leverage of 1:1000, while 1:200 for the deposit amount of $20,001 - $100,000, and 1:100 for depositing more than $100,001. By contrast, the MAM account only can experience the leverage of 1:100. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Spreads are influenced by what type of accounts traders are holding. 8MAX reveals that the spreads on the Standard or MAM account start from 1 pip, while the clients on the 8MAXZero account enjoy raw spreads from 0 pips, but this account type will be charged some unknown commissions.

Trading Platform Available

When it comes to trading platforms available,8MAX gives traders the worlds most widely-used MetaTrader4 platform, available for desktop, the Web and mobile apps. MT4 is known as one of the most successful, efficient, and competent forex trading software, offering great charting, in-depth market information, as well as automated trading via Expert Advisors, API connectivity and more. While with MT4 mobile apps, trading can be done from anywhere and at any time through the right mobile terminals.

Deposit & Withdrawal

8MAX accepts payment methods including credit cards (VISA, MasterCard), bank wire, Bitcoin and e-wallets like i-Account, WebMoney and UnionPay. The minimum deposit requirement is only $5.

Customer Support

8MAX‘s customer support can be reached through email: support@8maxtrading.com or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like Twitter and Facebook. However, this broker doesn’t disclose other more direct contact information like company address while most brokers offer.