FinamxFX

Cheated by a financial organization, does not withdraw money? Do you want to check the financial company?

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Broker FinmaxFX – assessment of the organization, reviews from ex-clients, trading conditions

A broker claiming that its clients can count on innovative tools and favorable trading conditions. But a comprehensive analysis of the organization showed that the company provides services illegally.

Status	SCAM
Year of foundation	2017
Affiliate program	No
Regulation and jurisdiction	VFSC
Website	https://finmax-fx.com/
Contacts	+7(495)2408996 +442035041364 [email protected] Port Vila, Vanuatu, PO box 1276

Pros

Available minimum deposit - from $100
A demo account is provided to test the trading platform
Wide range of trading instruments and accounts

Cons

Offshore registration and fake contacts
Low-quality site that constantly leads to problems with the termina
No legal documentation
Anonymity of the founders of the financial company
No affiliate program or educational platform

Trading Platform	MetaTrader5(MT5) WebTrader Mobile Platform
Types of accounts	Demo Account Micro Account Standard Account Premium Account
Currency	USD, EUR, RUB, AUD, BTC
Deposit/withdrawal	Credit cards Visa/Mastercard/Maestro Electronic wallets Cryptocurrency International payment systems PayPal, FasaPay, Safe Charge, Neteller, Skrill, WebMoney WireTransfe
Min Deposit	$100
Leverage	1:200
Min order	0.01
Spread	3
Financial instruments	Cryptocurrency, currency pairs, indices, commodities, precious metals, international stocks, energy, futures
Order execution	Market
Bonus	Welcome bonuses

History of the formation of FinmaxFX

FinmaxFX, a forex broker, was launched in 2017, which confirms its relatively recent entry into the financial services market. The main office of the project is located in the Seychelles, in the city of Mahe, which is a popular jurisdiction for registering financial companies due to its favorable tax legislation and simplified registration procedure.

A special feature of FinmaxFX is that, despite its offshore registration, the company declares its regulation by the Center for Financial Markets. We remind you that this body is a non-governmental organization and does not have the authority to regulate the activities of brokers in Russia. This may raise questions regarding the level of protection and security of customer funds.

It is important to note that information about obtaining a license from leading regulators such as the FCA (UK) or CySEC (Cyprus) is not mentioned, which calls into question the level of trust in the company from potential investors and traders.

Thus, the history of the formation of FinmaxFX indicates that we are dealing with a young broker who has been registered offshore and provides services without a license.

Conditions for trading with FinmaxFX

Used as the main trading platformMetaTrader 5. Available in versions for downloading on your computer and phone, as well as in a web version via a browser. There are over 200 instruments to choose from, including over 40 currency pairs, precious metals, stock indices, company stocks, resources, commodities and cryptocurrencies.

There are 5 types of trading accounts available:

Micro (minimum deposit $250);
Mini ($1000);
Standard ($5000);
Premium ($25000);
VIP ($100,000).

Leverage up to 1 to 200. Spreads from 3 points, a bonus from 30% to 100% is offered for replenishment. Please note that the firm does not detail anything regarding account types. It is not known exactly what conditions await when opening a micro or VIP account.

Financial operations

Supported replenishment methods:

Visa/Mastercard;
Yandex Money;
transfer between banks;
QIWI, Webmoney, Skrill, Neteller, Vload, ePayments.

To withdraw funds, you must go through an identity verification procedure. Withdrawal time is up to 5 banking days. FinmaxFX does not disclose commissions.

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Expert opinion

Eugene Rudenko

FinmaxFX is a Forex broker registered offshore in the Seychelles. It offers its clients the opportunity to trade a wide range of financial instruments, including currency pairs, stocks, commodity futures, stock indices, cryptocurrencies and metals. FinmaxFX focuses on providing access to leveraged trading, allowing traders to increase their profit potential. However, the company has raised concerns due to its offshore registration and lack of transparency in some aspects of its activities, including licensing and regulatory information. Despite this, FinmaxFX offers a variety of trading conditions and tools, including the popular MetaTrader 5 platform, which can attract both new and experienced traders.

Want to spread the word about your company or have you been in a negative review? Contact the portal editorial office right now

Reviews about FinmaxFX

Below you will find comments confirming serious problems with the project’s performance. Managers carry out serious schemes to convince clients to open an account and begin cooperation as quickly as possible. Of course, they convince you of the need to deposit serious amounts into your balance.

As you can see, traders cannot withdraw money from the broker’s account. As a result, they are left without funds. The office’s analysts do not fulfill anything they promised.

The worst decision that can be made is to start collaborating with scammers. Actually, today’s hero is included in the black list. Therefore, interaction with him will only lead to losses.

Fraud algorithm with FinmaxFX

Now regarding how the broker scams money. Here we are dealing with the most banal scam, which did not even bother to create something unique.

unrealistic promises of profitability. Offering investment portfolios with high promised returns that seem unrealistic for stable stocks and bonds. This attracts those who aim to make quick money;
offering bonuses for deposits with conditions that may be unfavorable for clients, for example, trading volume requirements for withdrawal of funds. As a result, users are left without funds;

High spreads and commissions: Setting high spreads and commissions, which can significantly reduce the profitability of clients’ trading. This may not be immediately obvious to those new to the market;

difficulties with withdrawal of funds. Establishing high fees for withdrawals and complex conditions that may create obstacles for clients withdrawing money.

Therefore, you shouldn’t even open a FinmaxFH personal account. Because you’re just giving money to crooks and that’s it.

Conclusion on FinmaxFX

The following is a list of signs of divorce:

unclear information about the company. FinmaxFX does not indicate its founding date, and its head office is registered in the Seychelles, which may complicate legal interactions;
the broker claims to regulate TsROFR, but this is a non-governmental organization that does not have the authority to regulate brokers in Russia. In addition, the regulatory certificate belongs to another company;
unrealistic promises. Investment portfolios on offer promising returns ranging from 32% to 87% seem too good to be true, especially since stable stocks and bonds cannot provide such high returns;
the presence of bonuses for deposits without a detailed description of the conditions for working them out is a classic trick of scammers;
hidden information and high spreads. The broker does not disclose full information about itself and its services, and also sets high spreads, which may indicate a desire to hide the real trading conditions;
commissions and withdrawal conditions. High withdrawal fees and complex terms and conditions can create additional barriers for customers.

You shouldn’t even contact FinmaxFX, because the company manipulates traders and scams them out of money. The review showed that the company had all the signs of fraud.

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FAQ

How do customer reviews influence FinmaxFX on the company's rating?

Customer reviews are one of the main criteria influencing the reputation and position of a broker in the ranking of reliable companies. You can view reviews about FinmaxFX on the main broker profile page

How to write a review about cooperation with FinmaxFX Online Forex rating?

You must register on the official Forex Rating website. This procedure is free and will take very little of your time. To confirm your registration, you will receive an email with a link where you will find detailed instructions on how toleave a review about the company FinmaxFX.