Finmax is a famous name in the financial trading world. It is a brokerage company that provides a trading platform for binary options and CFDs traders. Currently, the broker ranks among the largest with more than 300,000 customers worldwide. According to its latest report, there are over 2,500 new registrations at Finmax every day. In this article, we will look into the reasons why this broker is popular.
Founded in 2015, Finmax is run by Max Capital Limited – a company specializing in providing online financial trading services. The broker has its headquarter located in Bulgaria and many satellite offices all over the world. Finmax offers a binary options trading platform with 2 major trading types: High/Low and Above/Below. The minimum investment amount at Finmax is $5, while the maximum one is $50,000. The broker accepts registration from around the world except for the US, Canada, and Japan.
Finmax is legalized by the International Financial Market Relations Regulation Center (IFMRRC) with the registration number N8423207-1.
Advantages of Finmax
Finmax offers superior trading conditions, and that’s why the broker is favored. Here are the details:
1. A wide range of assets available for trading
Having a variety of tradable assets is a feature of Finmax. As this broker’s client, you can choose from over 75 financial assets and instruments in various groups, including:
- 30+ stocks from around the world
- 14 popular indices
- 25+ Forex currency pairs in the major, cross, and exotic groups
- 8 commonly traded commodities, including Gold, Silver, Oil, Natural Gas, and others
- 8 digital currencies, including Bitcoin, Bitcoin Cash, Ethereum, Ripple, Stellar, Dash, and Cardano.
Finmax constantly updates new assets and diversifies trading instruments, giving traders more opportunities to profit from the market.
2. A user-friendly and professional trading platform
According to users’ feedback, Finmax’s trading platform is rated as professional and user-friendly. Traders can use it on computers, mobile devices, or directly on browsers. Finmax’s platform designers are very smart when choosing dark colors for the background as it helps traders avoid eye strain when observing price movements. Financial assets and contract ending times are located at the top of the platform, while trading options, investment amount suggestions as well as the account balance information are placed on the right-hand side.
The middle of the trading platform is where traders can track assets’ price development. Finmax supports multiple chart types, analysis tools, and time frames to help its customers analyze the market better.
3. High payouts
Finmax is currently one of the highest paying companies in the binary options industry today. For winning trades on indices and cryptocurrencies, traders can make ROIs of up to 85%. Trades on stocks have an average payout level of 80%. The payouts for Forex currency pairs and commodities vary from 65% to 90%. The broker provides traders with a large selection of contract expiry times (between 30 seconds and a year). Usually, the longer the contract expiry time, the higher the payout.
4. A variety of account types
Finmax proves itself to be a broker for everyone when providing various types of real trading accounts. Below are the details:
- Bronze account – Minimum deposit: $/€250
- Silver account – Minimum deposit: $/€1,000
- Gold account – Minimum deposit: $/€5,000
- Platinum account – Minimum deposit: $/€25,000
- VIP account – Minimum deposit: $/€100,000
In addition, Finmax offers a demo account usable within 7 days. Traders can use the account to test Expert Advisors (EAs), trading strategies, or to get familiar with the broker’s trading platform.
5. Generous promotions and bonuses
Finmax is not only known as a broker offering a professional trading platform. It is also attributed to the “Liberal Broker” nickname for providing customers with many attractive promotions.
As a Bronze trader, you will be awarded a welcome bonus of up to 25% of your deposit amount. Besides, you can access Finmax’s educational courses, economic calendar, and analysis at any time.
Becoming a Silver trader, you can enjoy all the benefits of a Bronze trader plus a 50% welcome bonus. In addition, you will be offered risk-free trades of up to 20% of your deposit amount, a month accessing trading signals from Finmax’s experts, and free webinars.
Using a Gold trading account, you will be gifted a 75% welcome bonus, risk-free trades of up to 50% of your deposit amount along with all benefits of the Silver account package. Besides, an additional return of 2% will be added to your winning orders. You will also be supported directly by a personal account manager.
Becoming a Platinum trader, you will enjoy all the advantages of the Gold account package along with a 100% welcome bonus and an additional return of 4% on each winning trade. You can access the trading signals and special market analysis from Finmax experts at any time.
As a VIP trader, you will enjoy all the privileges of a Platinum trader plus an additional return of 6% on each winning trade. In addition, you will be supported 24/7 by a personal account manager and 2 senior analysts.
6. Low minimum withdrawal
Finmax requires a minimum deposit of $/€250, which is relatively high compared to that of other brokers. However, the broker’s required minimum withdrawal is only $/€25 – well below the binary options industry’s average. You can choose from a variety of payment methods to top up your trading account, including Visa/Mastercard, Wire Transfer, Webmoney, QIWI, Skrill, Neteller, Perfectmoney.
Finmax processes withdrawal requests very promptly (often between 24 and 48 hours). Bronze and Silver account holders are offered one free withdrawal. Gold traders will have a free withdrawal every month, while Platinum and VIP traders can enjoy lifetime free withdrawals
7. Professional support team
Having a professional customer support team is also a factor making Finmax preferred. Finmax specialists are available 24/5 in 8 languages, including English, Russian, Arabic, Polish, Italian, German, Spanish, and French. If you are a VIP trader, you will be supported 7 days a week.
There are 4 contacting channels available: Phone, Live Chat, Social Media, and Email. According to traders’ reviews, the broker’s experts are very responsive. The average response time of Live Chat is about 15 seconds, with tickets usually resolved within 24 hours.
How to Start Trading Binary Options at Finmax?
Below are the steps to open a binary options trading account at Finmax:
- Visit the broker’s official website
- Click on the green “Sign Up” button at the top right corner of the homepage, or on the “Start Trading” button in the middle.
- An email with an activation link will be sent to the email address you provided. Open that email and click on the link to confirm your email address.
- Select your preferred deposit amount and payment method, then follow Finmax’s instructions to make a deposit.
After completing the 5 steps above, you can start trading binary options at Finmax.