FinMAX Broker Review:
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Finmax is a relatively new online binary options broker. Launched in 2015, it’s a subsidiary of the Morris Processing Limited. The holding company is registered in the UK with their headquarters located in London. Finmax also has an operational office located in Sofia, Bulgaria.
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Currently, Finmax is regulated by the International Financial Market Relations Regulation Center (IFMRRC). This is an independent non-governmental organization whose purpose is to monitor and regulate brokers and dealing centres. Morris Processing Ltd holds the IFMRRC Certificate of Compliance Number TSRF RU 0395 AA Vv0103.
What makes Finmax stand out?
The Finmax platform is well designed and easy to navigate. Opening a new account takes a few minutes. You can choose among 4 different account types depending on how much you wish
to invest.
Finmax also offers bonuses of up to 100% of the deposited amount. In addition, winning trades can earn you up to 90% effective return. Withdrawals are also processed within 48 hours and depending on your account type, you can enjoy free withdrawals.
Traders will benefit from the weekly trading webinars published on the platform. In addition, you will gain access to free financial market news published on the platform.
Another feature that makes Finmax stand out is the up to 3 risk-free trades they offer to new traders.
What are the major drawbacks of this platform?
Although we agree that the demo account is one of the main benefits of the Finmax platform, we did find it a bit limiting. You cannot trade CFDs and FX on the demo account. However, Finmax reports that traders will be able to trade these instruments on the demo account sometime soon.
Another drawback we found with the platform is their limited selection of tradable instruments. Currently, they offer over 70 assets. This could probably be due to the fact that Finmax is a relatively new player in the market and we can expect them to add new assets as time goes by.
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