TradeMax Review

TradeMax

TradeMax

www.trademax.com.au

  • Leverage: 1:400

  • Regulation: ASIC

  • Min. Deposit: 1,000 US$

  • HQ: Australia

  • Platforms: MT4, PulseTrader

  • Found in: 2013

TradeMax Licenses

  • TradeMax Group Pty Limited - authorized by ASIC (Australia) registration ABN 76 162 331 311 AFSL 436416
  • Trademax Global Limited - authorized by VFSC (Vanuatu) registration no. 40356

Top 3 Forex Brokers

  1. Is TradeMax safe or a scam?
  2. Trading Platform
  3. Accounts
  4. Spread
  5. Leverage
  6. Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
  7. Conclusion

What is TradeMax?

At the beginning of the development, TradeMax group started its operation in Australia back in 2013 when received its license from ASIC to provide OTC derivative and forex trading. Further on, for years of the progress and continuously strives, the company brought consistent and reliable DMA (Direct Market Access) trading environment without any human intervention.

Overall, TradeMax group consisting of the experienced IT company, which develops the technological solutions to the better trading process while broker’s partners are top-tier brokerages and liquidity providers across the globe that allows customizing price channels and execution styles.

Therefore, the combination provides a robust infrastructure with dedicated risk management, through the team based in the US that monitors the stability of pricing, and best available quotes. Furthermore, the tech solution includes Alibaba Cloud Express Connection that brings a fast, secure network communication and low latency between the Trading Servers and TradeMax’s platforms MT4 and PulseTrader for Equities and Option trading.

TradeMax Review

Education

Apart from technology, the Broker also recognizes the need for quality customer support, which led the TradeMax to develop and provide a vast range of online and offline educational support. The classes are standing at the core of the trading and suitable for anyone no matter the level. Moreover, the dedicated management support available to everyone from the beginning trader to the professionals or money managers.

TradeMax education

Is TradeMax safe or a scam?

TradeMax is a safe broker to trade due to its regulatory status, since TradeMax Group Pty Limited is a financial services company regulated by the Australian Securities and Investments Commission (ASIC) which adheres to strict standards. The ASIC regulation is among the strictest authorities worldwide, which ensures the stability and trustable maintain guidelines with the protection of the client.

Also, there is a TradeMax Global entity that falls under the laws of Vanuatu, an offshore zone. While generally, we do not recommend trading with offshore brokers due to lack of requirements, since TradeMax holding an additional reputable license it is considered safe to trade.

TradeMax license

How are you protected?

Along with that, the are numerous rules before brokerage establishes among them is capital requirements that should meet the robust risk management and internal procedures, with sufficient cash equivalence that provides broker’s reliability. All clients’ funds are held in a segregated trust account with National Australia Bank (NAB), as well the investors falling under the Professional Indemnity Insurance that places the compensation in case of the broker’s insolvency.

Trading Platforms

A wide range of products across various subsidiaries within the group supports traders of different preferences. The variety includes 100+ currencies, Commodities, Indices, Futures, Cash DMA Stocks, Options, Bonds and ETFs that are accessible through the trading platform, the most popular MT4 available through PC, Web and Mobile versions.

In addition to its platform proven capabilities, the TradeMax cooperates with SaxoTrader platform designed for most advanced traders to use the liquidity data, with modules and tools to increase profitability, as well professional charting functions.TradeMax platform

Along with that, the inbuilt platform tool PulseTrader with a customizable workflow is suitable for active and professional traders bringing vast of powerful capabilities, which is a great offering from TradeMax indeed. This platform is one of the most advanced software for equities trading with direct support, integrated price alerts, real-time feeds and pricing for both theoretical values and current market Options sentiment.

Account

As for the account types, TradeMax range includes 4 options from the Standard to Professional level traders, as well as money managers through MAM accounts. What is also great, TradeMax aims to ensure client inquiries and accurate performance thus provides dedicated account manager service to all clients with no matter of the size you operate.

While the Standard Account is an easy proposal with a start capital of 1,000$ with no commission charges but with competitive spreads and market access. The Premium account and Professional one require a quite high balance of 50k$ and 100k$ accordingly. Yet, professionals and active traders will really enjoy vast opportunities along with tight spreads and trading via interbank spreads with commissions charge 7.0.$ per lot.TradeMax accounts

Fees

TradeMax spreads as mentioned designed according to the account type, while Standard account offers slightly higher spreads with no commissions and higher grate accounts allows enjoying of interbank spread.

For instance, see below a comparison of the spread offering, as well you may compare TradeMax fees to another popular broker IC Markets.

Asset/ PairTradeMax Spread
EUR/USD0.2
Crude Oil WTI3
Gold20 cents

Also, always consider overnight fee or swap as a cost, an interest for holding positions open overnight in foreign exchange trading. See example below with overnight rates for indices.

TradeMax swap

Leverage

While trading Forex you are able to use leverage, which allows you to profit from the fluctuations in rates through multiplied trading size, compared to your initial balance. Leverage is a loan provided to a trader by the broker with a possibility to multiply potential gains, however, you should learn how to use tool smartly and do not involve yourself into the highest risk.

The leverage offered by TradeMax eventually is one of the highest that investors can obtain. Usually, the amount of leverage provided is either 50:1, 100:1 or 400:1 depending on the instrument you trade and the size of the trading position.

Deposit and Withdrawal Methods

Easy and convenient funding of account can be performed by multiple secure methods with zero transaction fee and includes BankWire transfers, Cards payments, PayPal, UnionPay, POLi and fasapay. The account base currency is a choice of the trader, so it means all your transactions to and from the trading account will be performed with the chosen currency making it an easier process.

TradeMax funding

As for the minimum deposit requirement, the Standard account aims to 1000$ at the beginning and Premium account demand a 50,000$, which is a bit high by reasonable in terms of great benefits from TradeMax.

Conclusion

Overall, the TradeMax review researched the brokerage Group, which strives and bring comprehensive technologies for daily Forex trading operations. In terms of regulations and reliability, TradeMax maintained safe trading operations according to the heavy requirements of ASIC, hence the investors are protected by many means.

The broker not only uses the technology but develops it too since one of the branches is an advanced IT Company. With their direct access to markets and tailored solutions, the offering is strongly considered. However, it might be a bit complicated for traders of bigger sizes to join, due to a quite high balance requirement.

Another Australian forex broker is recommended FP Markets which provides better trading condition in spread compared to TradeMax.

Nevertheless, we would be glad to know your personal opinion about TradeMax, share your experience or refer to us for some additional information through the comment area below.

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