Overview of FINMAX
Finmax is a trading platform founded in Bulgaria. FINMAX offers binary options, CFDs, and forex trading services.They provide access to a variety of financial markets, trading platformand instruments for investors.
FINMAX offers various account types tailored to the needs of different traders, incluing Demo Account, Gold Account, VIP Account, and so on. FINMAX's customer support can be reached through email: support@finmaxtradeoption.com or online chat.
Regulatory Status
FINMAX was previously regulated by FMRRC(FINANCIAL MARKET RELATIONS REGULATION CENTER), which was listed in the System Register 15 April, 2020 and valid until 15 April, 2021. The present Certificate attests that properly identified services in financial markets provided by the company Max Capital Limited.
It is worth noting that so far, the certificate has expired. FINMAX has not been regulated by any major financial regulatory authority, which means that traders need to pay attention to trading safety.
Pros and Cons
Pros:
1.Variety of Trading Instruments: FINMAX offers a wide range of trading assets, including forex, commodities, indices, stocks, and cryptocurrencies, providing traders diverse investment opportunities.
2. User-Friendly Platform: Their proprietary web-based trading platform is designed to be intuitive and accessible, making it suitable for novice and experienced traders.
3.Comprehensive Educational Resources: FINMAX provides educational resources such as tutorials, webinars, and market analysis to help traders improve their skills and knowledge.
4.Instant Customer Support: FINMAX offers customer support services through the email: support@finmaxtradeoption.com or online chat to assist traders with any issues or questions they may have.
5.Demo Account for All: FINMAX provides a demo account option, allowing traders to practice trading strategies and familiarize themselves with the platform without risking real money.Cons:
1.Lack of Regulation: So far, FINMAX was not regulated by a major financial regulatory authority, which may raise concerns about the safety and security of funds for some traders.2.Limited Leverage: While FINMAX offers leverage on certain trading instruments, the maximum leverage available is much lower compared to other brokers, which could limit trading flexibility for some traders.3.Limited Platform Options: While FINMAX offers a proprietary web-based trading platform , some traders prefer alternative platforms or additional trading tools not aailable on FINMAX.
4.Market Access Restrictions: Depending on the trader's location, there may be restrictions on accessing certain markets or trading instruments through FINMAX due to regulatory reasons or other factors.
Market Instruments
Finmax offers to trade with crypto assets (BTC, LTC, ETH, Ripple) but only CFDs. These assets already are on the platform. Choose cryptocurrency from the list in the upper part of the Finmax's platform. It's possible to trade on the demo and real account. The maximum investment amount with FINMAX broker is $5000. If traders wish to purchase an option for greater amounts than $5000, they will have to purchase an option at this maximum amount, and then purchase an additional option of the same type.
Account Types
There are five trading accounts offered by FINMAX, apart from demo accounts, namely Bronze, Silver, Gold, Platinum and VIP. Opening a Bronze account requires a minimum initial deposit amount of $250, while the other four account types with the minimum initial capital requirements of $1,000, $5,000, $25,000, and $100,000 respectively.
How to Open an Account？
To open an account on FINMAX, you usually start by visiting their website and locating the “Sign Up” or “Open Account” button. From there, you will be guided through a registration process which typically involves providing personal information, verifying your identity, and agreeing to the terms and conditions.
Trading Platform
When it comes to trading platforms available, instead of the industry standard MetaTrader 4 and MetaTrader 5 platforms, FINMAX only gives traders a web-based binary options trading platform.
Deposit & Withdrawal
From the logos showed at the bottom of home page on FINMAX's official website, we found that this broker accepts payment methods via PayPal, Western Union, Bank Transfer. The minimum deposit amount is $250 or its equivalent in another currency. Withdrawal requests usually can be processed in 7-10 business days.
Customer Support
FINMAX's customer support can be reached through email: support@finmaxtradeoption.com or online chat. Company address: 14 Tsar Osvoboditel blvd. Sofia 1000, Bulgaria.
How It Works？
Crypto investment has become more popular in the past few years for various reasons. Mobile devices make it very easy to access trading platforms from anywhere. The principle of the transaction in the crypto investments market is quite simple:
1. Launch the trading platform;
2 .Choose the type of option;
3. Choose a tradable asset;
4 .Set the expiration date of the option;
5. Invest any amount at your discretion;
6. Make a forecast of the direction in which the value of the asset will go at the time of the expiration of the option;
7. Buy contract.
Educational Resources
The undeniable advantage of FINMAX broker is the elaborate trader's educational system. By studying their e-books, videos, and webinars, traders can get all information that is needed for successful trading. In addition to training, the broker provides analytical tools, market reviews, economic calendar, and news.
Conclusion
FINMAX is a trading platform that offers various account types tailored to different trading needs, including demo, bronze, silver, gold, platinum, and VIP accounts. They provide leverage to traders, allowing them to control larger positions with a smaller amount of capital.
Additionally, FINMAX offers educational resources such as articles, tutorials, videos, and webinars to help traders improve their skills and understanding of the financial markets. But its limited asset selection, higher spreads, limited leverage options and so on make it's essential for traders to consider these factors along with their individual trading preferences and needs when choosing FINMAX.
Overall, FINMAX aims to provide a comprehensive trading experience with a range of account options, leverage, competitive spreads, and educational resources.
FAQ
Q: What are crypto investments？
A: Crypto investments is a derivative financial instruments, the peculiarity of which is in a fixed-income and risk.
Q: How to invest money in an option？
A: It is very simple. You choose an option, underlying asset, expiry time, type of option(up/down or any other depending on the type of option) and the amount of the investment. After that, you just click the “Purchase” button.
Q: What is the payment amount of a profitable(“In the Money”) options？
A: If you bought a profitable option, you can see the amount of payout next to the asset on our trading platform.
Q: What happens if the Expiry Level of a Given Asset is identical to the Level at which the Transaction was made？
A: In the event, the amount of the investment is returned to the customer. You do not lose anything but gain nothing either.
Q: What are the levels displayed in the Trading Boxes？
A: The levels we present in the trading boxes are those at which FINMAX broker is willing to sell you the options. Moreover, these levels will not always coincide with current market prices.
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