FxPremax Reseña

On-line since: 2014
Country of origin: Saint Vincent and the Grenadines
Regulation: the FSA of Saint Vincent and the Grenadines
Payment options: bank transfer, bank cards, electronic payment systems
Minimum account size: $0
Minimum lot size: 0.01
Leverage: up to 1:500
Spreads: floating

About the company:

FXPremax offers a little over 70 trading instruments including Forex, spot oil and metals, CFDs for major indices.

About Company. Safety of funds.

The broker claims to be licensed by the FSA of Saint Vincent and the Grenadines. Many brokers prefer this offshore zone due to the fast registration process, low minimum fees, and more loyal control. Even though the FSA intends to meet European standards, experts judge it to be a regulator with a low level of protection. Therefore, think twice before investing in offshore brokers, especially if an amount is large.

Considering the language versions of the website, FXPremax mainly targets customers from South and Southeast Asia.

Trading terms

FXPremax offers four types of live accounts. It also has a non-swap option that can be activated for any type of account at the request of the trader for religious reasons. In addition, the company provides free-of-charge demo accounts. PAMM-accounts are available as well.

Minimum deposit

You can start trading on any account with only 1 cent, but it will not bring any notable profit. However, it will suit newbies and traders who are busy developing their strategies.

Spreads and commissions

FXPremax offers floating spreads. An average spread for the popular EUR/USD pair is 1.9 pips. This option is rather good, although some brokers have even smaller spread for this pair.

Leverage

• 1:1-1:500 for accounts with deposit up to $25,000;
• 1:1-1:200 for accounts with deposit $25,000-$100,000;
• 1:1-1:100 for accounts with deposit over $100,000.

Trading platforms

The broker offers popular MT4 chosen by millions of traders worldwide. This platform is known for its great package of charts, adjustable analytical tools, back-testing, and attractive automated strategies – expert advisors (ЕAs). Even though MetaQuotes has launched a new version of software – MetaTrader 5, MT4 remains the most popular trading platform for Forex.

Special services

Forex Copytrader is a service for social trading that enables newbies or people who do not have much time for trading on Forex make money by coping deals of other market players.

A rating of the most successful traders with a history of their transactions is displayed on the main page of the website.

Customer service

Questions can be addressed by phone (for four regions: Russia, the UK, Hong Kong, Malaysia), Skype, and email.

Payment options

There are a lot of ways to top up the accounts with FXPremax. The broker accepts payments via bank transfer through local deposits in some countries. It is also possible to make a payment through international bank transfers and online payment systems, such as Neteller, Skrill, OKPay, UnionPay, and FasaPay.

Criticism by traders

Traders left quite a lot of positive comments regarding their work with FXPremax. However, we find these dozens of too sweet comments doubtful, while the broker does not share anything about its history and remains in the offshore zone under weak supervision.

Advantages:

• MT4;
• high leverage;
• several types of accounts;
• variety of payment options.

Disadvantages:

• unregulated broker.