Is FXPremax Scam or Legit Broker?

FXPremax is not a safe broker. According to our research, FXPremax has been suspected of fraudulent actions. The company does not hold any financial licenses but claims the opposite. Therefore the company seems to be highly suspicious and might operate its services from an absolutely different location.

About FXPremax
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is FXPremax safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is FXPremax?

FXPremax is a Forex and CFD broker that claims to be located in London, UK but doesn’t have a license from the UK’s Financial Conduct Authority, so it is not allowed to offer financial services to UK residents.

  • The website provides the address (Suite 1 4 Queen Street, Edinburgh, UK‎) and British phone number. Still, most probably the firm is not even located in the country, as the company that owns FXPremax, Premax Capital Ltd., is based in Indonesia, Jakarta.
  • We don’t recommend dealing with unregulated brokers, especially if they provide false information on their websites. Some of such entities run investment scams, and clients of such brokers don’t have any protection.
  • Unlike FCA-licensed brokers, unregulated ones are not obliged to keep their clients’ money in segregated accounts. The license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license. You can check the list of FCA-regulated brokers here.

FXPremax

Overall FXPremax Forex Ranking 

As we revealed safety and regulation issues during our FXPremax research, we do not rank positively FXPremax, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • FXPremax 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.
RankingFXPremaxBlackBull MarketsFP Markets
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe?NoYesYes
AdvantagesNoneCurrency TradePlatforms

FXPremax Alternative Brokers

Our research of FXPremax showed multiple issues in respect of regulations, so here are much better Alternatives to FXPremax with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

  • AvaTrade – Good Instruments and CopyTrading
  • Pepperstone – Low Spreads and Competitive Trading Conditions
  • XM – Wide Range of Trading Opportunities

Deposits and Withdrawals

Deposit funds into the FXPremax trading account is a quick and easy process. There is a wide range of payment methods including Credit Cards, Debit Cards, Bank Wire transfers, and e-wallets such as Skrill, Neteller, fasapay, etc. Generally, deposits take from 12 to 24 hours to be completed, depending on the location of the trader. In the case of online payment methods, the deposits are instant.

  • Withdrawals, on the other hand, take longer in the case of bank wires (about 3-5 business days). 

 

FXPremax Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities and 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 FXPremax Forex is Negative

No news available.

3 responses to “FXPremax”

  1. Exceptional Trading Experience with FXPremax

    I have been trading with FXPremax for quite some time now, and I am delighted to share my exceptional experience with this brokerage. FXPremax has truly exceeded my expectations in every aspect of my trading journey.

    From the moment I opened my account, the registration process was smooth and hassle-free. The customer support team was incredibly responsive, guiding me through each step and ensuring that all my questions were answered promptly.

    The trading platform offered by FXPremax is outstanding. The user-friendly interface, combined with the powerful tools and advanced charting options, has greatly enhanced my trading capabilities. I appreciate the stability and lightning-fast execution speeds, which are crucial for taking advantage of market opportunities.

    What sets FXPremax apart is their commitment to providing a secure and transparent trading environment. I have complete peace of mind knowing that my funds are held in segregated accounts, and the company adheres to strict regulatory standards. The deposit and withdrawal process has always been swift and without any issues.

    Additionally, FXPremax offers a vast range of tradable instruments, including Forex, commodities, indices, and cryptocurrencies. This diverse selection allows me to diversify my portfolio and explore different market opportunities.

    The educational resources provided by FXPremax are top-notch. The webinars, tutorials, and market analysis reports have been instrumental in expanding my trading knowledge and sharpening my skills. I truly appreciate the effort FXPremax puts into empowering their clients to make well-informed trading decisions.

    Lastly, I cannot praise the customer support team enough. Their professionalism, expertise, and willingness to go the extra mile to assist their clients have been exceptional. Any time I have reached out with a question or concern, they have been swift in their response, ensuring that I am always well-supported.

    Overall, my experience with FXPremax has been nothing short of exceptional. They have created an environment that fosters success for traders of all levels, with their exceptional trading platform, security measures, educational resources, and outstanding customer support. I wholeheartedly recommend FXPremax to anyone looking for a reliable and trustworthy brokerage for their trading needs.

    Thank you, FXPremax, for being a partner in my trading journey!

  2. Amazing broker, no regulations allow high leverage that’s why they don’t try fool traders.

    Easy deposit and withdrawal.

    5 Stars

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