Learn all pros and cons of trading with the FinMax broker.

August 10, 2021
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Binary options and CFDs are one of the easiest derivatives to understand. These instruments depend on the correct prediction of price movement. If the price forecast is accurate, a trader received a payout. If the prediction is wrong, a trader loses all the money spent on buying the option. On the one hand, the popularity of binary options and CFDs is constantly growing in different parts of the world as they allow getting profit in a relatively short period of time. On the other hand, successful trading largely depends on the correctly chosen intermediary. This FinMax review is aimed at acquainting you with the main benefits the trading platform offers to private investors.

    About FinMax

    This binary options broker FinMax appeared only a few years ago - in 2015. The company is a subsidiary of Morris Processing Limited. The FinMax broker is registered in the UK and is headquartered in London. It also has an operational office located in Sofia, Bulgaria.

    A distinctive feature of the broker is a wide range of settings for binary options trading. So, FinMax is one of the few brokers that offers options with expiration from 30 seconds to up to 6 months. More than 75 types of binary options and 1000 CFDs are available for trading -stocks, commodities, indices, and currency pairs. For those who want to make a profit in digital currencies, the broker offers the opportunity to trade binary options on digital coins. You will not need to buy and sell cryptocurrency. The profit or loss on each option will be a fixed amount.

    The advantage of the company is the availability of a modern trading platform, which helps not only to quickly place bids, but also to effectively analyze the market.

    FinMax has only a certificate from the International Financial Markets Regulation Center (IFMRRC). It is an independent authority whose main task is to monitor and supervise the activities of brokers and dealing centers.
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      Main characteristics of FinMax trading platform

      Official site
      Profitability
      Markets
      Deposit and withdrawal commission
      Minimum deposit
      Minimum trade
      Minimum expiration term
      Maximum expiration term
      Up to 90%
      CFD, binary options
      Only payment services commission
      $250
      $5
      30 seconds
      6 months
      Deposit bonuses
      Trading instruments
      yes
      More than 75 options - indices, currencies, commodities, stocks, cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple)

      Registration

      You need to enter the following information without fail:
      • Full name
      • contact phone number
      • account currency
      • email and password
      • type of account (real or demo account)
      You also need to confirm you are 18+
      Read the terms of the client agreement and agree to the collection and processing of personal information.
      The registration procedure will be completed after the trader follows the link
      That will be sent to the email indicated in the registration form.
      A well-thought-out registration form also allows you to verify your identity. You need to be verified for smooth money withdrawals.

        Account types

        FinMax demo account

        Demo Finmax
        A free training account is available to every platform user, regardless of experience and knowledge. You do not need to invest anything to open a virtual account, it's absolutely free, but registration is required. Unfortunately, the FinMax demo account has limited time - it is available for 7 days. But there is a solution - you can extend this period by writing a letter to the platform administration. A virtual account provides access to all the full functionality of the platform and allows you to trade using virtual $1,000. The only difference between real trading and training platforms is the number of trading instruments – a demo account offers a somewhat limited choice.

        A training platform has all features of a real one - you participate in trading, draw up price charts, and make virtual transactions to test your forecast abilities. But all your winnings will remain virtual – you will not be able to withdraw these funds.

        FinMax platform

        The broker offers an innovative platform that provides access to FinMax MetaTrader 5. The company's specialists took an active part in its development, taking into account the latest trends. As a result, you can enjoy a multi-functional trading terminal with a completely transparent system for opening and closing deals and the expiration of transactions.
          FinMax platform
          The web version of the FinMax trading platform works in all browsers. The online terminal window displays:
            List of assets available for trading and selection of the contract expiration date.
            Trade buttons. Here you will also need to specify the size of the investment.
            Links to the wallet and video tutorials.
            Information on the deals of other traders.
            Social radar feature that allows you to copy the activity of successful traders.
            The asset price movement chart and several indicators.
            Three time frames - time intervals that are taken as a basis for charting.
            The ratio of the number of buyers and sellers.
            Trading with FinMax is facilitated by the availability of trading signals. Based on this information, you can determine the best moment for entering a position in a certain direction.

            A special feature of this platform is Social radar. It is a unique opportunity to make money for those who cannot yet afford large investments and are forced to work with a minimum deposit. Social radar is an indicator that reflects the percentage of other traders who have made a particular trade. That is why such trading is called social trading. For example, in the near future there will be an increase in the dollar exchange rate. Accordingly, most traders will begin to enter into contracts and buy binary options that reflect the growth of this currency. Therefore, a novice trader who uses social radar, in most cases, will make a profit by concluding a deal according to the principle of social trading. In simple words, he will simply copy the contract of more experienced colleagues. Social radar is a very useful feature for novice users. It allows you to make a profit almost from the first day of trading.

            The broker also supports mobile trading. FinMax app is supported by all major mobile operating systems. In terms of functionality, the mobile terminal does not differ from the stationary one, therefore, to participate in the auction, you only need a stable Internet connection.

              Payments and commissions

              Finmax accepts several payment methods:
                Bank cards
                Bank transfer
                Various electronic systems
                Depending on the method you choose, it will take from a few minutes to one-two days to deposit funds into your account. You need to top up your account with $ 250 to get started. Withdrawal requests are processed within a period of 24 hours to 5 days. You can deposit funds without a commission, but for withdrawals, a commission in the amount of 0.9%--3.5% will be deducted from you. It should be borne in mind that the minimum withdrawal amount to a bank account is $250 or an equivalent amount in another currency. Moreover, FinMax has an inactivity fee. So, for example, if you do not make any transactions for more than two months, the broker will charge you a service fee of $25 per month. Also, if you have less than $5 on your trading account, and no transactions have been made within 1 month, then the entire balance will be nullified.
                  FinMax

                  Bonuses

                  The FinMax bonus offer depends on the type of your trading account.

                  It can reach from 25% (for bronze accounts) and to 100% of your deposit amount (VIP accounts). But you will need to achieve a certain amount of turnover in order to withdraw funds from your account. In the case of FinMax, the turnover must be 40 times the bonus amount.

                  Unlike most online brokers, FinMax does not block your funds in exchange for using bonuses. This means that you will be able to get your profits even if you have not reached the necessary turnover so far. However, there are several nuances - in this case, you will lose all your bonuses and all the profits made with the bonus funds.

                    Educational materials

                    A lot of brokers have a separate section devoted to training. It allows novice traders to learn more about binary options trading. Training in this area is extremely important as various strategies can make your activities more fruitful. FinMax online platform has a lot of educational materials:
                      Video lessons
                      This section contains tutorials explaining binary options nature, market analysis, nuances of trading platforms, social trading technique, technical indicators and other important aspects of trading. A total of 9 courses are presented on the platform, which were developed specifically for Finmax clients. To get access to video tutorials, you need to register on the site.
                      E-books
                      There are three books available on the website that can be downloaded for free by any trader.
                      Strategies
                      The choice of a trading strategy is the key factor of successful trading. The site offers a lot of information about different types of strategies. The user can find descriptions of popular types of strategies and less known ones. The advantage is that the information on the site is constantly updated and at the moment there are already more than 110 types of strategies for effective trading.
                      Glossary
                      There many specific terms used in online trading, and the glossary allows users to quickly understand their meaning without the need to look for definitions of terms on different sites.

                      Customer support

                      The broker is ready to answer all questions traders may have while working with the platform. You can also send your recommendations and suggestions using the following communication channels:
                        Online form on the site
                        Email support@finmaxbo.com
                        Phone call
                        The broker practices a personalized approach to everyone who joins the site – right after the registration, you will be provided with a personal manager. You can contact this specialist to clear out all the questions concerning platform performance, deposits and withdrawals of funds and much more. Unfortunately, the broker is not present in social networks at the moment.

                          Earn with FinMax

                          The broker offers a profitable affiliate program - WOW Partners. Partners are offered several models of cooperation to choose from - a CPA model or profit sharing using the RevShare system. WOW Partners guarantees a completely transparent remuneration scheme.

                          To get started with affiliate programs, you do not necessarily need to start your own website. Most programs for generating good income without a website advise promoting the offer through social networks, groups, direct mailings.
                            FinMax Forex broker has been operating for 6 years on the market, and during this time, it has received enough recommendations from honest traders as an affordable and profitable platform. The broker has done a good job creating several types of accounts, each targeting specific traders. The platform is easy to use and available on both computers and mobile devices. However, the broker still needs some improvements, for example, an increase in the number of available trading instruments. So, if you are planning to open a trading account, a FinMax broker is worth giving a try.
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