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Finmax emerges as another intriguing trading platform that is popular for big charts, good website layout, a professional look, and smartly organized buttons to make trade easier than ever before…
Finmax is really an impressive trading platform and we loved it mainly for its above average organization of the website. Charting is advanced and it offers reliable technical indicators as well. The platform serves with useful webinars that are available in 5 languages. These webinars are updated once a week.
There are various aspects to analyze before selecting an online trading platform. This review will cover all important factors which include the company’s history, regulation, and licensing, complaints, withdrawal and Finmax scam alerts. Let’s see if this platform manages to impress as a potentially reliable and transparent trading opportunity.
Finmax Review Summary
Cost: $250+
Recommended: No (See Our Top Ranked Legit Program Here)
Rating: 0/100
Summary: At a glance Finmax may look like a trustworthy broker – and admittedly it is “more” legit than most, however the fact remains that it is unlicensed & literally ALL of the unlicensed brokers we’ve came across here at Stopping Scammers have turned out to be scams so for that reason we advise extreme caution when it comes to Finmax. If you have lost money to Finmax already then keep on reading to see how you can get it back.
Quick Navigation
If you’ve just come here looking for some specific information on Finmax then we’ve tried to make things easier for you by putting together some quick navigation links below which you can use to skip straight to the information that you’re looking for. ?
- Finmax Background
- Is Finmax Regulated?
- Finmax Complaints
- Finmax Withdrawal
- Is Finmax a Scam?
- Our Verdict on Finmax
- Scammed By Finmax? Get Your Money Back!
- A Much Better Way To Make Money Online
Finmax Background
Morris Processing Ltd. owns and operates Finmax. The company established the platform in 2015.
- Address: 71-75 Shelton Street, Convent Garden, London, UK.
- Operational Office: 14 Tsar Osvoboditel Blvd. Sofia 1000, Bulgaria.
- Phone: +44 (203) 807 4841 (UK) / +357 (22) 008 852 (Cyprus) / +1 (437) 889 3209 (Canada)
- Email: support@finmaxbo.com (08:00 – 20:00) GMT+3 Operating Hours
Finmax seems to be more focused on the client’s satisfaction. The broker uses the trading platform developed by TradeSmarter. Though the platform is Online-Only there are various features which you witness with downloadable programs, for instance, candlestick charts and technical indicators.
The website also contains advanced charting options that are actually developed by TradingView.
$250 is the minimum deposit which allows you to start trading via the Bronze Account. Keep in mind that the webinars are restricted to higher accounts. In addition, opting for a higher account means that your withdrawal request will be processed faster.
- Silver Account: 48 Hours
- Gold/Platinum Account: 24 Hours
You don’t have to wait for weeks to receive your funds in your bank account. The withdrawal processing is quicker as compared to most of the trading platforms available today.
Social Radar facilitates social trading by allowing you to track the performance of other traders (top of the list). Finmax offers this feature to the Silver and higher accounts. The traders with Bronze account can’t use Social Radar.
Finmax also serves with exceptional educational material and video tutorials. We are happy to realize that this educational material is not only focused on facilitating the beginners but it also aims at assisting the experienced professional traders.
Good news for those who love cryptocurrency trading, Finmax lets you trade Bitcoin on standard Binary Options (High/Low and Above/Below). In addition, there are 26 currency pairs which also include Bitcoin. The platform offers 8 commodities, 14 indices, and 45 stocks.
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Is Finmax Regulated?
Finmax is NOT regulated and we are extremely disappointed to know that even after three years, the company doesn’t seem to make an attempt to acquire CySEC license. Let’s hope the management takes the law and transparency seriously because it is the top-most factor that is necessary for a broker’s success in the long run.
Finmax Complaints
After opening a Demo Account with Finmax, we realized that it didn’t allow us to trade CFDs and FX. Though the creation of the Demo account didn’t frustrate us the lack of proper trading features is really disappointing.
Upon contacting the support team, we were told that the management was working on certain issues and the CFDs and FX trading for Demo Account was also in the testing phase. Yes, these trading features are available with the real accounts but they are still not visible in the Demo Account.
We tried to find some serious complaints against Finmax but there isn’t anything to be considered at the moment. It means that the platform is still Green and we hope that Finmax becomes regulated in the coming months.
Finmax Withdrawal
Finmax entertains eWallets (Neteller, Yandex Money, Skrill, Qiwi, and WebMoney), Credit/Debit Card, and Wire Transfer for processing the withdrawals. If you have a Bronze account, your withdrawal will be processed in 5 working days. For a Silver account, the processing time reduced to 48 Hours (2 working days) and for the Gold account, the withdrawal processing is done in 24 hours.
You have to present identification documents for verification before submitting the first withdrawal request.
Is Finmax a Scam?
Some resources do claim that Finmax is regulated by the International Financial Market Relations Regulation Center (IFMRRC). Even if it is true, we still like this platform to go for the Governmental Regulatory Authority, CySEC.
Finmax scam complaints are not found anywhere on the internet. We didn’t come across any public warning against the platform. We are convinced that the broker is doing a good job but still much is needed to be done regarding the transparency. We’ll be happy to see the management taking serious steps to get regulated with a more reliable and authoritative regulatory authority.
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Our Verdict on Finmax
Finmax is indeed a good trading platform with some impressive features. Do we recommend Finmax? Well, it is indeed a tough call because we don’t recommend an online trading platform which doesn’t have a license from a governmental authority.
Yes, the platform is appealing, the website is impressive, and the clients are happy with the services. You can wait for a few months to see if there emerge some complaints or public warnings against Finmax. The decision is yours!
Scammed By Finmax? Get Your Money Back!
As we mentioned above in this review, despite Finmax looking promising on the surface it is ultimately not regulated which means it doesn’t hold a license so there is no protection surrounding your funds… It’s unusual for a legitimate broker not to be licensed & we would NEVER recommend trading with an unlicensed broker.
So if you have already found yourself scammed by Finmax prior to arriving at this review then sadly it would not surprise us as the majority of the binary options brokers we’ve reviewed have turned out to be scams…
The good news though is that we’ve put together a free money reclaim guide which shows you exactly how you can get your money back from a scam binary options broker & it’s been proven to work.
To date thousands of people who have come through the Stopping Scammers website have taken advantage of the guide & successfully reclaimed their funds from online scams so we know it can help you too. You can get access to it for free right now by clicking here.
A Much Better Way To Make Money Online
Trading with any broker is risky but trading with an unregulated broker is extremely risky – for that reason as mentioned above we would never recommend it, but you’ll be glad to know that you don’t need to trade with Finmax as there are much better (and safer) ways to make money online.
Whilst carrying out our investigations into various money making opportunities we have come across many scams but we have also come across many legitimate opportunities that have been proven to work.
Out of all of the opportunities that we’ve come across though there has been 1 in particular which has stood out from all of the rest & we have given it the title of our number 1 recommendation for working from home.
So if you’re looking to make good money online without risk then you can click the button below to get access to our number 1 recommendation right now:
