Benefits and shortcomings of the FinMax trading platform.

Otto Green • Aug 25, 2021
Min. deposit: $250
Bonuses program: Yes
Products: CFDs, Shares, Indices, Metals,Currencies
Demo account: Free
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Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
The market of online trading is constantly evolving - new brokers and new financial instruments appear every day. Binary options are one of the youngest and most popular instruments in the currency market. It attracted the attention of individual traders from all over the world, literally giving a second breath to the industry. As a result, many brokerage companies started to offer a new trading instrument – binary options. Everyone can start trading options, but it is crucial to select a reliable trading platform. This FinMax review might be helpful for everyone who is interested in trading.

About Broker

FinMax is a renowned broker that has been providing binary options trading services since 2015. Within this short period, it has managed to gain a reputation and a fairly large number of users.

FinMax broker offers over 75 assets to choose from and payouts up to 90%. Binary options trading can be carried out 24/7 via the Internet or via mobile devices.
OctaFx CFDs trading
The choice of binary options types is rather small – you can trade only high/low and maximum/ minimum options. Trading is offered on 43 individual international stocks, 14 types of indices, 25 Forex currency pairs and 8 commodities. Recently, the broker added the possibility to trade cryptocurrencies – there are 7 crypto pairs available for work.

During his work, the broker significantly expanded the list of offered financial instruments, improved trading conditions and improved the quality of services. Currently, the platform has a license from only one financial regulator - IFMRRC. This company is independent, its task is to regulate the financial activities of the brokerage and dealing centers.

Facts & Figures

DEMO ACCOUNT:
Yes, free
MIN. DEPOSIT:
$250
MIN. TRADE:
$5
REGULATION:
by Max Capital Ltd
TRADE SIGNALS:
Yes
COPY TRADING:
Yes
ANALYTICS TOOLS:
Yes
RISK MANAGEMENT:
Yes
WEB-ADAPTED:
Yes
AUTO TRADING:
No

Registration and Personal Account

The registration is very fast, thanks to a clear online form where you need to enter your personal information – name, residential address, email. You will also need to choose the currency of your account and confirm you are over 18. Now you need to finish the registration by activating the link sent to your email.

On your personal page, you will have access to 2 tabs – Options and CFD. Switching between these tabs allows you to switch from the platform for options trading to trading contracts for differences. To enter the FinMax metatrader terminal, just click the "Trade" button or click on the green button "Start trading now". You can also go to the "Setting" tab and do the following:
1
Edit profile details
2
Upload identity documents and a place of residence and payment details. This information is required for withdrawals
3
Change the password
4
Send a request to delete an account
You can also configure notifications by enabling or disabling the receipt of newsletters, information about promotions, webinars and strategies at any time. If you have any problems with the mailing list, you can always contact the service department.

Trading Conditions

It will be fair to accentuate the following broker features:
Two types of options (Up/Down and High/Low);
The profitability of standard options is up to 90%, of innovative options - up to 300%;
More than 75 trading instruments;
Trading account currency - USD or Euro;
The minimum deposit is $ 250;
The minimum trade is $ 5;
Choice of expiration from 30 seconds to 6 months;
Loss insurance;
Bonus programs;
Trading signals;
Demo account.
OctaFx CFDs trading
Immediately after registering on the official FinMax website, a trader needs to consistently follow the standard steps to buy a contract:
Choose the type of contract;
Choose an underlying asset;
Specify the expiration date of the option;
Select the amount to be invested and enter in the appropriate window;
Now you need to determine the price direction at the time of the contract expiration. If you believe it will grow, then press the big green button "Up";
Then you need to set the amount you are ready to invest in buying the option, you can also use the hot buttons (+5, +10, +50, +100) and immediately set the corresponding investment amount;
To complete the purchase, you need to additionally click on the "Buy" button. It is done in order to protect the trader from accidentally pressing the "Up" or "Down" buttons.

Account Types

The FinMax forex broker has several different accounts for trading binary options. Each account type allows you to receive a registration bonus and increase profits. Each account is more advanced than the previous one.
Balance de pagos por instrumento
Instrumento
Nivel Bronce
Minimum deposit
$250
Trading instruments
75+
Deposit bonus
+25%
Nivel Silver
$1,000
75+
+50%
Access to all platform features
yes
yes
Nivel VIP
Nivel Platinum


Nivel Gold
+100%
yes
$100,000
100+
+100%
yes
$25,000
75+
$5,000
75+
+75%
yes
Free webinars
Economic calendar
Everyday analytics
Training video materials
Money withdrawal
Account manager
no
yes
no
yes
yes
no
yes
yes
yes
yes
yes
yes
Access to VIP webinars
yes
Personal everyday analytics
yes
yes
yes
yes
yes
The first withdrawal is free
The first withdrawal is free
yes
yes
Fee-free withdrawals
Personal manager
Fee-free withdrawals
Personal manager 24/7
One free withdrawal per month
yes
Bronze is mainly a beginner's account. It provides access to all basic platform functions;
Silver is the most often opened account type among FinMax clients. You receive signals for a month and the opportunity to participate in webinars. The trader has a personal account manager;
Gold is an account for advanced users. You will be allowed to withdraw within 24 hours. Besides, you get unlimited signals, educational and analytical materials;
Platinum is an account for professional investors. For each unprofitable trade, a return of 4% of the invested amount is made. You can withdraw money without limits and overpayments. Plus, you her unlimited signals, webinars and analytics;
VIP account provides access to VIP webinars, analytics and other exclusive services.

FinMax Demo Account

The demo account was developed specifically for those clients who want to try their hand at trading or test the functionality of the platform. Also, a demo account allows users to learn trading and gain practical skills. It is absolutely free of charge and becomes available after the registration on the site. You will be credited with virtual $1,000. The only shortcoming is its time restriction – you can use the training account for 7 days only.

Platform

The FinMax trading platform does not require installation of additional software on the user's personal computer. It can be launched directly through any browser immediately after registering on the site.

On the FinMax platform, you can trade two types of options:
Up/Down is a classic type of options. When trading, you need to predict in which direction the price will go at the moment of expiration in relation to its current state;
Above/Below is a special form of classic contracts. Here you need to predict whether the price chart will go above or below the value specified by the trader.
Switching between the types of options is done in just a few clicks.

The FinMax proprietary platform is recognized as one of the most functional and convenient for trading binary options. It is adapted to the requirements of experienced traders and newbies. A set of filters allows you to quickly select an asset, expiration time of transactions, investment volume, contract terms and start trading. If you want to trade via a mobile, you can use a FinMax app, supported by iOS and Android devices.

Additional Services

Social Radar is an exclusive FinMax feature that was designed for social trading. This service was integrated into the web terminal. With its help, every novice trader will be able to follow the operations of successful traders and copy trade orders. Social radar will help everyone earn money, regardless of experience and professional skills.

Service features:
Open monitoring of successful traders accounts for the last 30 calendar days. Studying trade statistics will allow a potential investor to assess possible risks and make an informed decision about following a certain account.
After you connect your personal account to the deals of a successful trader, options trading becomes a source of passive income. All deals in this case will be opened automatically.
Flexible settings of the service make it possible to control risks and personally monitor the development of events.
OctaFx CFDs trading
The FinMax social radar resembles copy trading on the MQL5 platform. It is the official website of the MetaTrader platform developers. The minimum cost of connecting to MQL5 trading signals is 50 USD per month. The FinMax social trading service has undeniable advantages:
All copying activities are free of charge;
The trading process can be 100% automated;
Social radar signals are adapted for binary trading, which will not cause additional difficulties for novice investors.

Payments and Commissions

The procedure for replenishing the trading account on the platform is automated and carried out instantly. The choice of the payment options is wide:
Yandex money
Webmoney
QIWI
Visa, MasterCard
Direct bank transfer
To prevent fraud and theft, the withdrawal of funds from the trader's balance occurs after the mandatory identification of the trader.

According to traders, there are no difficulties with the withdrawal, and cases of unauthorized withdrawal have not been recorded.

Education and Analytics

To improve trading efficiency, you can use the training materials posted on the broker's website. Some of them are available to all clients, others are provided only to holders of certain trading accounts. Among the FinMax online materials, there are various videos demonstrating the basics of trading, electronic books, reviews of various trading strategies and even webinars with experienced traders. Training section contains:
Strategies - an interesting selection with trading systems for binary options.
Training videos - information about the simplest components of trading (indicators, market analysis, etc.).
Webinars – some are open to all platform users and there are also VIP webinars.
Glossary - a vocabulary of the main terms used in online trading.
OctaFx CFDs trading
The platform provides additional information support:
News feed - daily publications of information about changes in the financial market, important political and economic events affecting quotes.
The economic calendar - a selection of the most significant news, based on which the forecast and the direction of movement of asset prices are built. The user gets the opportunity to analyze the market situation more efficiently.
Signals - an integrated widget that provides additional market information and data for analysis. It also generates recommendations based on up-to-date information about the underlying asset. However, the decision on the deal is made by the user himself.

Customer Service

The customer service team is available from 08:00 to 20:00 GMT and can help you in any situation. You can contact them using one of the following means of communication:
Online chat through the website;
Email - support@finmaxbo.com
Skype - finmaxbo.com
+359 (2) 491-36-24 - Head office

FinMax Bonus System

In order to motivate beginners and experienced traders, FinMax offers various types of bonuses, such as the first deposit bonus, the amount of which is directly dependent on the deposit. Bonuses can reach:
25% for a bronze account holder
50% for a Silver account holder
75% for a Gold account holder
100% for a platinum VIP account holder
To be able to withdraw a bonus from your trading account, it is necessary to make a certain trading turnover. Basically, the broker asks for a turnover of 40 times the bonus.

Affiliate Program

FinMax is ready to partner any trader who will promote the site' services. The essence of the program is to attract new clients to the company and receive remuneration for this.

You can attract new clients both by communicating with people and telling them about the advantages of the company, or by posting the broker's advertising materials on your website or page in social networks.

Key Takeaways

CONS
  • Modern platform with an intuitive interface and a wide set of tools for work
  • Profitability is up to 90%
  • 5 types of accounts, which differ in the size of the deposit, the size of bonuses, the terms of payments
  • Risk-free first trade
  • Expiration of options - from 30 seconds to 6 months
  • Trading signals
  • Social radar feature
  • Low trade amount - $5
  • Insufficient regulation
  • A bit high minimum deposit
PROS
The FinMax trading platform is considered one of the most high-tech companies. Traders can enjoy a lot of additional services – trading signals, social trading or risk-free transactions. It is clear from this FinMax review, the company does not plan to stop developing and focuses on long-term relationships with each client. Only in a few years, the broker could earn credibility and recognition not only of thousands of traders, but also of market experts who regularly place the broker in top positions in the ratings of the most reliable intermediaries.
Advertising:
Top 5 Options Brokers 2021
Expert Option

Binomo

eToro

DukasCopy

Plus 500
Top 5 Forex Brokers 2021
BDSwiss

Libertex

XM

FXTM

FXPro

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