FinmaxFx Review 2019 – Pakistan

FinmaxFX is an iFMRRC-regulated MetaTrader broker that offers over 420 tradable assets and instruments. 

Founded in 2015, FinmaxFX has its headquarters located in Seychelles and many satellite offices around the world. The broker’s brand name is managed by Gatelinas, UAB and was licensed by the International Financial Market Relations Regulation Center (IFMRRC) in 2016. 

FinmaxFX provides Forex and CFD trading services to market participants from most countries, including Pakistan. It supports the MetaTrader 5 trading platform with a wide range of assets, including Forex currency pairs, commodities, equities, indices, cryptocurrencies, and many more. 

Pros: 

  • Investor protection
  • A variety of trading products
  • Advanced trading platform
  • Multiple trading accounts and payment options
  • 24/7 customer service
  • Plenty of promotions 

Cons:

  •  Relatively high spreads
  • Only 3 languages supported: English, Russian, and Arabic

Bonus 100% for Pakistan traders

FinamaxFx Review 2019
InstaForex

Is FinmaxFX regulated in Pakistan?

FinmaxFX has no mention of being certified by Pakistan regulators such as the State Bank of Pakistan (SBP) or the Securities and Exchange Commission of Pakistan (SECP). However, with the iFMRRC regulation, the broker’s Pakistani clients are covered under the iFMRRC Compensation Fund Scheme and can claim up to a maximum amount of $100,000 in the event that FinmaxFX faces financial difficulties.

You can check FinmaxFx regulation status anytime with iFMRRC website. Finmax Forex Pakistan

 Note: FinmaxFX always complies with the regulations of iFMRRC with fully transparent business activities. There has been no report showing that this broker violated iFMRRC regulations.

Is FinmaxFX legal in Pakistan?

Yes. Thousands of Pakistani market participants are trading Forex and CFD with FinmaxFX. The broker is also serving over 350,000 clients in many other countries around the world.

Is FinmaxFX safe?

Traders can rest assured when trading with FinmaxFX as this broker provides maximum safety for clients. It keeps its funds in segregated bank accounts and uses Advanced Encryption Standards 256 Bit – the state-of-the-art encryption technology today – to guard its clients against hackers. In addition, this broker supports Negative Balance Protection to protect traders from losing more than their investment amounts.

    How many types of accounts are available for choosing at FinmaxFX?

    FinmaxFX offers five separate types of real trading accounts, each of which suits a specific trader level and has different promotions. Apart from these accounts, FinmaxFX also offers a demo account with unlimited money.

    Here are the details:

    Micro Account

    • Minimum deposit: $/€250
    • Leverage: 1:10 – 1:200
    • Spread: from 3 pips
    • Withdrawal time: up to 48 hours
    • Withdrawal fee: Yes
    • Promotions:
      • A welcome bonus of up to 30%
      • Private training: 1 time

    Mini Account

    • Minimum deposit: $/€1,000
    • Leverage: 1:10 – 1:200
    • Spread: from 3 pips
    • Withdrawal time: up to 48 hours
    • Withdrawal fee: Yes
    • Promotions:
      • Bonus up to 30%
      • Private training: 2 times per week

    Standard Account

    • Minimum deposit: $/€5,000
    • Leverage: 1:10 – 1:200
    • Spread: from 3 pips
    • Withdrawal time: up to 48 hours
    • Withdrawal fee: One free withdrawal/month
    • Promotions:
      • Bonus of up to 50%
      • Private training: 2 times per week
      • Trading signals
      • Daily market review

    Premium Account

    • Minimum deposit: $/€25,000
    • Leverage: 1:10 – 1:200
    • Spread: from 3 pips
    • Withdrawal time: up to 24 hours
    • Withdrawal fee: No
    • Promotions:
      • Bonus of up to 80%
      • Private training: 3 times per week
      • Trading signals
      • Daily market review

    VIP Account

    • Minimum deposit: $/€100,000
    • Leverage: 1:10 – 1:200
    • Spread: from 1 pip
    • Withdrawal time: up to 5 hours
    • Withdrawal fee: No
    • Promotions:
      • Bonus of up to 100% of the deposit
      • Private training: Not limited
      • Trading signals
      • Daily market review
      • 24/7 support

    What are the benefits that Pakistani traders can enjoy when trading with FinmaxFX?

    At FinmaxFX, clients can enjoy a safe and friendly trading environment with superior conditions, including:

    • Investor protection
    • Advanced trading platform
    • A wide range of assets and instruments available for trading
    • Leverage up to 1:200
    • Multiple trading accounts and payment options
    • A 100% welcome bonus along with many other attractive promotions
    • Education through webinars and videos
    • Daily market analysis and reviews

    This broker also has a multilingual support team that is available 24 hours on 365 days a year. If traders have any questions or issues, they can reach out to FinmaxFX specialists at any time via phone, Live Chat, email, or social channels.

    Which trading platform does FinmaxFX support?

    FinmaxFX provides traders with MetaTrader 5 (MT5) – one of the most innovative trading platforms today. It contains lots of features, including:

    • 20 different time frames (11 types of minute charts, 7 types of hourly charts, and 3 types of long-term charts)
    • 6 types of pending orders (Buy Stop, Buy Limit, Buy Stop-Limit, Sell Stop, Sell Limit, Sell Stop-Limit)
    • 38 technical indicators
    • Stock and futures trading
    • Strategy Tester and trading signals

    FinmaxFX clients can access MT5 on computers, phones, and browsers. This enables them to engage in trading on the move.

    Which assets are available for trading at FinmaxFX?

    Pakistani traders can trade more than 420 assets and instruments in plenty of categories, including:

    • 250+ equities from around the world
    • 14+ popular indices
    • 50+ Forex currency pairs in major, minor, and exotic groups.
    • 5 metals
    • 3 energy carriers
    • 30+ cryptocurrencies

    For the detailed list of tradable assets and instruments, please check here.

    Does FinmaxFX provide an education center?

    Yes. This broker provides a comprehensive and rich education center where traders can access trading knowledge from basic to advanced. In addition, FinmaxFX also hosts webinars to help its clients have the opportunity to meet and learn directly from its trading experts.

    FinmaxFX’s VIP clients can even participate in private training courses with the broker’s experienced account managers and market analysts.

    What are the minimum deposit and withdrawal amounts at FinmaxFX?

    FinmaxFX allows the minimum deposit from $/€250 (Micro account). Traders can choose from 7 different payment methods, including Visa/Mastercard, Bank Transfer, QIWI, Webmoney, Yandex, Skrill, and Neteller.

    The minimum withdrawal at FinmaxFX is $/€25. Withdrawals are usually made in less than 48 hours via the payment method that traders used to top up.

    How to start trading at FinmaxFX?

    To start trading at FinmaxFX, you do the following steps:

    1. Enter FinmaxFX’s official site at https://finmaxfx.com/
    2.  Click on the “OPEN AN ACCOUNT” green button at the top of the homepage
    3. Fill in your personal information and click on REGISTER
    4. Confirm your email address
    5. Select a payment method and make a deposit
    6. Start trading