category: Unregulated Brokers

Is AMarkets Scam or Legit broker?

AMarkets is not one of the secure Forex Brokers since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

• It is not safe to trade with AMarkets as it is an offshore broker. AMarkets is registered by the Financial Services Authority (FSA) of Saint Vincent, registration No. 22567 IBC 2015. AMarkets is a member of The Financial Commission, an independent external dispute resolution (EDR) organization.

What is AMarkets?

AMarkets is a Forex and CFDs broker that provides trading through the MT4 and MT5 trading platforms. Providing brokerage services in the CIS countries, Asia and Europe, AMarkets focuses on offering high-quality services and comprehensive support to its clients and partners.

• However, in terms of regulation AMarkets is not safe at all. The fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company operation. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets, and more. Read more about St. Vincent and the Grenadines regulation by the link.
• According to the website, AMarkets is a Member of the Financial Commission, which settles disputes between financial market participants, and protects each of our clients with the Commission’s compensation fund, for up to 20 000 EUR per case. Even though FinaCom is a well-respected organization, it is a self-regulatory organization that cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

Overall AMarkets Ranking 

Our research showed multiple issues in respect of the regulation and reliability of AMarkets, we do not rank positively AMarkets, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• AMarkets Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

AMarkets Alternative Brokers

Based on the AMarkets safety and regulations issues we found during our research, we suggest much better Alternatives to AMarkets with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• Dukascopy –  Excellent for Shares, Futures Trading
• XM – Broker with Low Minimum Deposit
• Interactive Brokers – Good for Stock Trading

AMarkets in India

AMarkets has no mention of complying with any Indian regulators on its website. The broker does not hold any license from the regulatory body in India. This means, that the investments with the broker might be at risk. 

AMarkets in the USA

The United States is one of the countries that is not accepted by AMarkets. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for AMarkets, you are only permitted to trade with the U.S-regulated platforms.

Deposits and Withdrawals

The minimum deposit to start trading is $100/€100. To be able to fund your trading account, you have to complete the identity verification (Also read about Fortrade minimum deposit). 

• AMarkets does not charge any additional commission on withdrawal in its favor. When withdrawing funds from your account, you only pay transaction fees charged by the payment system. The payment system might also deduct the fixed commission on withdrawal.
• The broker offers the following payment methods: VISA, MasterCard, Bank Transfer, ADVcash, Skrill, WebMoney, Perfect Money, FasaPay, Neteller, and TopChange. 

Apps

AMarkets offers its traders MT4 Mobile and MT5 trading options for both iOS and Android. With smartphones, forex traders no longer need to be tied up to their desks, spending hours watching their trading screens. Instead, they can monitor the markets through their mobiles whenever they are. Mobile trading with MT4 allows you to have complete control over a trading account and trade from anywhere 24/5.

• The MetaTrader 5 (Check the best MT5 brokers here) custom trading app condenses the core features of the desktop platform into a simple and user-friendly smartphone interface. Trade on the go in your iOS or Android device and access current price quotes, analyze data with customizable candlestick and line graphs with the tap of a finger.

Demo Account 

AMarkets offers a demo account so you can try the AMarkets platform with virtual trading before you put down a payment. A demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option. Also, check FBS Broker Review which offers a Demo account.

AMarkets Review Conclusion

Even though the trading offering might seem attractive, in our opinion, you may find something more interesting among the regulated brokers. But an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. For that reason, we would advise choosing the broker more carefully and checking its regulation status first. The reputable firms that hold FCA, FINMA, or other licenses are established by international standards, protecting clients at every step and even compensating the trader in case things go wrong with the company. Thus, sign in with reliable brokers, such as  Pepperstone and TMGM.

• Overall ranking and experience for AMarkets is Negative

Is LionsFM Scam or Legit Broker?

No, it is not safe to trade with LionsFM, as it is an offshore company. LionsFM is owned and operated by EQUAL TARGET LTD. company with number 101932, incorporated in the Republic Of The Marshall Islands.

• In fact, the Marshall Islands is an offshore zone attracting various firms that for one reason or another escape from serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors' investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

What is LionsFM?

LionsFM claims to have more than 10 years of experience in trading, with low-risk assets and expedient advice. They offer access to the global forex trading market, with intuitive platform options, including the award-winning Trading Station.

• Moreover, the broker has been blacklisted by the Austrian regulator FMA: 

“LionsFM is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore not permitted to trade on a commercial basis.”

• The pages and official sources of the international regulators’ list alert are shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As LionsFM got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.

LionsFM Review Conclusion

We strongly advise all investors and traders to avoid LionsFM and other brokers from the Marshall Islands. The lack of information (or false information) about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and eToro.

LionsFM Update

Recently the LionsFM website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is WDC Markets Scam or Legit Broker?

No, it is not safe to trade with WDC Markets as it is not regulated. WDC Markets is owned by FTG Solutions LTD (Registered number: 1994899), First Floor, Mandar House, Johnson's Ghut, P.O. Box 3257, Road Town, Tortola, British Virgin Islands and operated from Tornimae 5, Tallinn, 10145, Estonia.

• The BVI FSC is known for its light-touch regulation and very loose requirements that brokers do not try to comply with. Although the firm is licensed, BVI regulation is not enough to provide financial services in, for example, the UK.

What is WDC Markets?

WDC Markets claims to be a leader in financial markets brokerage including Forex, CFDs, and Indices. The broker provides its clients with a wide variety of markets and instruments, as well as a range of expert services, resources, and advice.

• However, we couldn’t find any information about this broker in the register of the Estonian Financial Supervision and Resolution Authority, which only proves that WDC Markets lacks regulation.
• Moreover, the broker has been blacklisted by two regulators. 

New Zealand, FMA:

“We are concerned that WDC Markets and the website https://wdcmarkets.com are withholding client funds and may be operating a scam. WDC Markets is not a registered financial service provider and is unable to offer financial services/products to New Zealand residents. As such, we recommend exercising caution when dealing with this entity.”

Spain, CNMV:

“WDC Markets is not authorized to provide the investment services, which include investment advice, nor to provide the auxiliary in relation to the financial instruments, including, for those purposes, foreign currency transactions.”

• The pages and official sources of the international regulators’ list alert are shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As WDC Markets got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authorities.

WDC Markets Review Conclusion

We advise all investors and traders to avoid WDC Markets and other unregulated brokers (Check out Fake Forex Brokers List in Nigeria). The lack of information about the broker’s regulations, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.com.

WDC Markets Update

Based on our findings, the WDC Markets website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals. 

Is Royaltd24 Scam or Legit Broker?

No, it is not safe to trade with Royaltd24, as it is an offshore company. Royaltd24 is the Company, operated by RL Ltd., Marshall Islands.

• The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CobraCFD, GoldenSkyCapital, and more. As we already know, offshore registration usually doesn’t guarantee the safety of funds and clients’ protection, especially in the Marshall Islands, where the local authority doesn’t regulate forex businesses. 

What is Royaltd24?

Royaltd24 claims to have been founded in 2011 by a group of economists in the global financial markets. Royaltd24 offers its investors trading with Forex and CFDs and a leverage of up to 1: 200. The clients can trade with fixed and variable spreads (Also read about zero spread forex brokers here), which are among the lowest in the industry, starting from just 0.1 on ECN accounts (Find ECN Trading Platform for you) and 0.5 on Standard accounts.

• Moreover, Royaltd24 has been blacklisted by the Italian regulator CONSOB:

“CONSOB  availed itself of the powers deriving from the “growth decree” regarding the blackout of the sites (including RL Ltd (website www.royaltd24.net) of abusive financial intermediaries, as well as the new power introduced by Law no. 8 of 28 February 2020, regarding the blackout of the site through which the abusive bid is made.”

• The pages and official sources of the international regulators' list alert are shared with the authority directly or by other countries' supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As Royaltd24 got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.

Royaltd24 Review Conclusion

We strongly advise all investors and traders to avoid Royaltd24 and other brokers from the Marshall Islands. Very often offshore or unregulated brokers run investment spam, thus it is wiser to avoid them and choose a reliable broker. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and eToro.

Royaltd24 Update

Recently the Royaltd24 website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is RoyalsFX Scam or Legit Broker?

It is not safe to trade with a Forex broker RoyalsFX, as it is an unregulated firm. The broker does not provide the company behind the brand’s name and claims to be located in Geneva, Switzerland. However, the terms and conditions on the website state that RoyalsFx is under Estonian Governing laws. Despite all these claims, we were not able to find proof of the broker’s regulation and there are no mentions of this firm in the registers of the local regulators.

What is RoyalsFX?

RoyalsFX claims to be an innovative online trading brokerage firm, providing traders from across the globe the possibility to trade and profit from the global financial markets. RoyalsFX was established by highly enthusiastic financial market veterans, committed to encouraging people worldwide to practice trading and investing independently while providing complete access to a vast number of top-class financial assets from all 4 major markets. The broker provides its clients with more than 1,000 top-class financial assets from 4 major markets and 3 trading instruments (CFDs, FX).

• Moreover, the broker got blacklisted by one of the most reputable regulators the Financial Conduct Authority in the United Kingdom: 

  “Almost all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized by us. This firm is not authorized by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization.”

• Considering all the facts above it is safe to say RoyalsFX is not regulated and has no legal rights to offer financial services. 

RoyalsFX Review Conclusion

We advise all investors and traders to avoid RoyalsFX and other unregulated brokers (See our Forex scammer List). The lack of information (or false information) about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Cyprus and reliable brokers such as FP Markets and Alpari.

RoyalsFX Update

Recently the RoyalsFX website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is Spectre Scam or Legit Broker?

Spectre is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority.  Spectre Trading Ltd is incorporated in St. Vincent & the Grenadines as an International Business Company with registration number 25113 IBC 2018.

• However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company's operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.

What is Spectre?

Spectre is an Asian financial online trading platform that allows traders to trade at a high frequency with low risk in the financial markets. By utilizing cutting-edge, crowd-sourced technology, Spectre matches traders against an embedded liquidity pool or other traders on the Spectre trading platform. Uniquely, it offers the ability for traders to earn up to 100% of returns (average 73%) ROI on just 1 trade within minutes (and even seconds).

One of a range of applications using an autonomous liquidity pool (DALP), Spectre was created with the vision to allow for fraud-free retail trading. Spectre.ai allows for the synthetic (no underlying ownership) of a range of asset classes, whether currencies, stocks, bonds, ETFs, indices, Epic and many more. Digital Contracts and CFDs, the unique contract types in the platform, can be taken by traders on a broad range of assets.

• In any case, we never advise trading with an offshore or non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

Overall Spectre Ranking 

Taking into consideration our revelations on the safety and regulations issues of Spectre, we do not rank positively Spectre.  With an  Expert Opinion with over 10 Years of experience in Forex Trading we have come up with the following ranking:

• Spectre Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Spectre Alternative Brokers

As we found many issues regarding Spectre safety and reliability, here we offer much better Alternatives to Spectre with tight regulations and good conditions. We select Good Brokers and reliable options for your comparison below: 

• Trading 212 – Good for Beginner Traders
• FP Markets – Good for CopyTrading
• XTB – Good for CFDs trading

Spectre in India

Spectre allows Indian traders to open accounts and trade. However, Spectre has no mention of complying with any Indian regulators on its website. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

Spectre in the USA

The US is among the countries that cannot register with Spectre (Find Best Forex Brokers in USA), along with Costa Rica, BVI, Caymans, Cyprus, Iran, Venezuela, Syria, Somalia, Saint Vincent & the Grenadines, North Korea, Yemen, Iraq, Puerto Rico, American Samoa, Guam, Northern Mariana Islands, US Virgin Islands.

Deposits & Withdrawals

For a regular account, the minimum deposit amount is $10.00 and the minimum trade size is $1.00. For a Wallet account where no deposits are needed, the minimum trade size is $50.00.

• Spectre does not charge fees for withdrawals. However, UPHOLD and the several payment solution providers may have their own associated fees when transacting via them.
• Payments methods available are: Skrill, Neteller, Bank transfer, Credit/debit cards, Uphold, PaySafeCard, UnionPay (China), Advcash (South America, Russia, Europe), FasaPay (Indonesia, Vietnam, Thailand and Malaysia), Help2pay (Malaysia, Thailand, Indonesia and Vietnam).

Demo Account

Spectre offers demo accounts. All account types automatically include a risk-free demo account, which can be accessed inside your account forever. This completely free demo account requires no deposit and is pre-funded with unlimited virtual funds. It allows you to experience some risk-free trading to get you prepared for the real thing. No matter your trading level, Spectre.ai demo accounts are the perfect place to practice your skills and become a better trader without spending any of your own money.

Spectre Review Conclusion

Overall, there is no sustainable trust in the delivered Spectre trading environment since there are many complaints from the broker’s clients. So the downside of the Spectre would be also multiple negative reviews of this company and lack of decent regulation.

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

• Overall ranking and experience for Spectre is Negative

Spectre Update

We discovered that the Spectre website is unavailable. It is unclear whether the broker changed its name, or is gone altogether. Since money safety goes first, we recommend avoiding any proposals from Spectre and staying alert in case of any proposals. 

Is Concept4X Scam or Legit Broker?

No, it is not safe to trade with Concept4X as it is not regulated. Concept4X is owned by AllGreen Capital Ltd., which is an offshore company registered in Dominica (Read Dominica registered TradersWay Review).

• Dominica is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Global Clearing Group, TradeToro, and more.

What is Concept4X?

Concept4X claims to be one of the world’s fastest-growing and best Forex trading platforms. With a fast learning curve, user-friendly interface, and excellent customer support, Concept4X offers its traders the best and ultimate online trading experience on the internet. The company was established as a new way for Forex traders to easily invest on a platform that is easy to use and easy to understand. They also develop advanced Forex strategies that guide traders in trading in stock markets.

• The company is located in a known offshore zone, which does not require minimum capital requirements that shows company sustainability, as well as does not regulate Forex businesses yet. Therefore, that means that the company operates on its own risk and management style while the client may face some manipulations or will not be compensated by any international organization in case of insolvency.

• According to the website, the broker has three different offices in three different locations, Wenlock (London), Dominica, and recently Cyprus. They also provide Cyprus contact number. However, there is no information about Concept4X regulation with the Cyprus regulator as well as UK’s FCA. 

• The broker is not regulated and has been misleading its clients with false information. Moreover, the Cyprus Securities and Exchange Commission has included Concept4X in its warning list:

“The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform investors that the following websites do not belong to an entity which has been granted authorization for the provision of investment services and/or the performance of investment activities.”

Concept4X Review Conclusion

We advise all investors and traders to avoid Concept4X and other brokers from Dominica. They do not hold any serious licenses and might often be spam brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM.

Concept4X Update

Recently the Concept4X website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is FxFixed Scam or Legit Broker?

No, it is not safe to trade with FxFixed as it is not regulated. The broker is owned and operated by Unigreen Korlatolt Felelossegu Tarsasag, and located in Budapest, Hungary. However, we didn’t find any mentions about this broker in the register of the Hungarian regulator as well as some other major regulators’ registers. 

• FxFixed does not provide any regulatory information, nor contact details. That’s when it comes to transparency. Regulated companies keep all the information open to their clients as it is required by the law. Obviously, FxFixed has no regulation and no authority to report to.  

What is FxFixed?

FxFixed provides the option to trade 200+ markets including the biggest cryptos. Its clients have an opportunity to trade highly liquid assets with very low spreads and 1:500 leverage (Low Spread Forex Brokers). According to the website, FxFixed guarantees 100% protection and security of funds and investments through professionally managed network data centers with fully redundant server arrays and internet connections, as well as complete transparency. With a lack of a lot of information, it actually seems like the broker is not that reliable and transparent.

• Also, the awards mentioned on the website are fake as there are no such nominations and this broker was never nominated for any Forex award.

• In addition, FxFixed has been blacklisted by the Spanish regulator CNMV:

  “FxFixed is not authorized to provide the investment services, which include investment advice, nor to provide the auxiliary in relation to the financial instruments, including, for those purposes, foreign currency transactions.”

• The pages and official sources of the international regulators' list alert are shared with the authority directly or by other countries' supervisory bodies or transmitted centrally. Those tools and the general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities, and more. As FxFixed got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by the EU authority.

FxFixed Review Conclusion

We advise all investors and traders to avoid FxFixed and other unregulated brokers (Check our Fake Forex Brokers List). The lack of information about the broker’s regulation, trading conditions and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and XM.

FxFixed Update

Recently the FxFixed website remains inactive, meaning the broker has muted its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is FINMAX Scam or Legit Broker?

FINMAX is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

• The terms and conditions of the broker state that the company is supervised under the laws of the United Kingdom, but there is no mention of the broker in the regulator's register and FINMAX actually doesn’t have any legal rights to offer its financial services to the UK residents.

What is FINMAX?

FINMAX is a CFDs and binary broker (See the list regulated binary brokers). Its trading platform provides an opportunity to use in trading more than 1000 underlying assets, the list of which is constantly expanding. FINMAX offers assets from groups of financial instruments such as Forex currency pairs, stocks, indices, and commodities. The broker claims to have an amazing team of financial market professionals, however, with all the benefits mentioned on the website, we still have a lot of questions about the company's reliability.

• It is not safe to trade with FINMAX as it is not regulated. This broker is owned and operated by Max Capital Ltd, Svitrigailos, Vilnius with the operational office address in Sofia, Bulgaria. However, we didn't find this company in the register of the Bulgarian Financial Supervision Commission.
• Being located in Bulgaria, FINMAX does not hold any financial license to offer its service across major markets. Apart from the legitimate status, the unauthorized nature of trading inflicts the highest risk to lose funds due to the fact that none of the authorities check on the implemented safety measures and protective tools. Therefore, FINMAX or any other non-regulated broker may use and manage the client’s money in any manner with no imposed consequences.

FINMAX in India

FINMAX allows Indian traders to open accounts and trade. However, FINMAX has no mention of complying with any Indian regulators on its website. Here you can find the Best Forex Trading Platform in India for you. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. 

FINMAX in the USA

The United States is one of the countries that is not accepted by FINMAX. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for FINMAX, you are only permitted to trade with U.S-regulated platforms.

FINMAX Deposits & Withdrawals

The minimum deposit is 250$. The payment options include: credit/debit cards, bank transfer, Yandex money, Qiwi wallet, Webmoney, and Perfect money. 

Trading Apps

FINMAX offers a modern trading platform for your mobile device, we support the following – iOS, Windows Mobile, and Android.

This platform is identical to the terminals that are available for desktop PCs and laptops. However, it is fully adapted to mobile devices which allows you to trade with comfort from any location, wherever you are if your device is connected to the Internet.

Demo Account

The broker does not offer a demo account.

Read about FBS Broker which offers a Demo account.

FINMAX Review Conclusion

Based on our research, even though the trading offering might seem attractive, there are many questions in regard to the trust of the FINMAX company services and the manner they do operate the online trading itself. Of course, an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and TMGM.

Finmax Updates

Based on our findings and research Finmax website is unavailable to reach, so probably Broker no longer operates. Besides, we recommend avoiding Binary Options and offshore brokers.