Finmax is one of those binary options brokers that emanate confidence. Beginners will find it very convenient and accessible – you need only $100 for minimum deposit, demo account is available, lots of education materials are at their disposal, and of course, the profitability range is quite decent. However, it doesn’t mean professionals won’t find their place with Finmax – they can enjoy more advanced account types. The broker has put together a well-designed platform that suits all the needs.
It should be mentioned right from the start that we deal with a regulated broker. Finmax, which is operated by Morris processing Ltd 2, located in Sofia, Bulgaria, is licensed by the Russian Financial Relations Regulation Center (FMRRC).
With Finmax, both beginners and professional traders can try their luck, as the broker offers 5 different account types that differ in deposit size, trading conditions, and potential bonuses. This is a great approach, since not all the traders are ready to deposit $5000 for example. Yet, those who can deposit such an amount, don’t they deserve more privileges? It doesn’t mean that Finmax does not pay attention to modest traders – the broker simply tries to be generous with everyone.
Besides the standard account type, which requires at least $100, you can also choose from:
All the traders are quite curious to know the profitability of a binary broker before making any decision in favor or against it. Well, we have read that the return can reach 90% of the investment. However the average winning rate is much lower. For example, if you trade EUR/USD, which is one of the most popular assets, the winning rate with the classic options can reach 74% per each trade. The good news is that you can also trade Above/Below options, which can generate up to 200% of the initial investment. Yet, you should take into account the higher risks of these contracts.
Even if the average return with the classic options seems to be lower compared to other brokers, you should think about the fact that Finmax is regulated and safe, which compensates this apparent drawback.
Finmax has a wide list of assets. Moreover, you can trade contracts with expiry times from 30 second to several months. Accordingly, there is the whole range of instruments and expiry times, so that you could choose the best contracts.
With this broker, you can trade over 30 company stocks, 14 indices, 25 currency pairs and 8 types of commodity instruments based on 4 commodities.
If you want to open a live account with Finmax, you will have to deposit at least $100 for the standard account type. This is lower than the average amount required by other brokers out there.
Finmax pays special attention to the safety measures, such as SSL encryption and the implementation of segregated accounts, so that your funds are kept separately from broker’s money.
The payment methods are quite standard: credit/debit card, bank transfer and electronic systems such as Skrill, Qiwi or Yandex Money.
Finmax customer service team is actively engaged in helping its customers to find solutions to any potential problem. The client can get in touch by phone, email, online chat, and Skype. We think that these methods are more than enough to get a professional help.
We were quite surprised by Finmax services. We thought we would find a young broker that is still trying to find its way in the binary industry. However, the reality was that Finmax acted very professionally, and in many instances it exceeded our expectations.
Finmax still needs a lot to improve, like scale configuration or quantity of indicators or withdrawal methods. But Finmax is better than the vast majority of other brokers.
I have just opened my account on Finmax. So far, trading has been good. Thanks to their trading signals. But what I want to know is about the withdrawal process. Is there anyone here who’d tell me about their experience?
Hi there, Edward. No worries about the withdrawal process on Finmax. Been trading with the platform and your money is guaranteed to be in your account within 48 hours. Hope that takes away your worries.
Hello. I’m interested in binary options trading but I’m still a newbie. Can anyone suggest where I can study?
Hi Will, there are many places on the Web you can learn from. But Finmax also provides ongoing education to the traders who use their platform. They also assign a personal manager and analyst to you. So you get all the hands-on education from experts while trading.
Been trying the Finmax demo account. What I want to ask anyone trading on Finmax already is to share what their winning rate is on the platform.
Been trading on Finmax for more than a year. Here’s the thing about binary options trading: You need to follow the rules to give yourself a higher winning percentage. Based on my experience, the arrows are giving me between 71 – 84% success rate.