If you’ve been updated with what’s going on lately in the binary options market then you’re probably aware that a lot of known and well-established brokerages have ceased operations due to the increased regulatory requirements from financial authorities. In fact, a number of companies have been affected and only those that remain today are the ones that are able to pass the standards of these regulators. One of them is FiNMAX which has been in the business since 2015 and is currently regulated by the Financial Market Relations Regulation Center (FMRRC) in Russia. They have an advanced platform which has a number of notable features that are worth mentioning and a variety of perks to offer their clients. If you want to know more about our findings about this broker then you may continue reading this review.
Demo Account: Unlimited use
The free demo account works just the same as the live trading account and the great thing about this feature is that it doesn’t have an expiration period.
Bonuses: Up to 100%, risk-free trades and more
The bonuses that they offer ranges from 25% to 100% depending on the account type but aside from this, they also offer risk-free trades and other benefits such as webinars, free withdrawals and more.
Platform: Advanced tools + social trading
Their platform is a lot more advanced than other binary options brokers. It’s faster and has more features such as social trading which you can use to find the top performing traders and set certain limits for a trade.
Mobile Trading: For iOS, Android and Windows Mobile
Mobile applications are available for devices that are running on iOS, Android and Windows Mobile and they are basically the same as the web-based platform that you can access via desktop PC’s or laptops. The only difference is that these have been optimized for mobile devices with touchscreens.
Tradable Assets: The hottest in the market
They have more than 70 assets covering all the 4 major classes and this includes the hottest in the market including the Bitcoin cryptocurrency.
Minimum Trade: Only $5 for every option
Every position that you execute will only need a minimum investment amount of $5. This gives you more power to control how much you’d like to place for your trade.
Payout Rate: Significantly higher returns
The highest return that you can get out of your trade is 90%. This means you get to receive a much higher payout from your binary options trades.
This standard High/Low with options ranging from 30 seconds to 6 months.
Deposit and Withdrawal
Minimum Deposit: The standard amount
When you sign-up for a Bronze account, the minimum deposit is $250 which is basically the standard initial deposit amount. If you wish to open for a much higher account, the deposit requirements however will also be higher.
Deposit Methods: A selection of payment systems
They support common payment methods for account funding and this includes bank transfers, credit cards, WebMoney, QiWi, Skrill, Yandex Money and Skrill.
Withdrawal Processing Time: Only 48 hours for expedited requests
If you have a VIP account then you will be able to enjoy expedited withdrawals which can take only 48 hours to process. For other account types it may take up to 5 working days which is still considered to be fast.
Channels: Phone, email, live chat and Skype
The customer service department can be reached by phone, email, live chat and even via the Skype instant messaging app.
Availability: During active trading hours
Their lines are available from 8:00am to 8:00pm (GMT+3).
Supported Languages: English and more
The site is available in English, German, Spanish, French, Russian, Italian, Polish and Arabic.
Average User Rating: 9.7
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Very modern and easy to navigate
Their platform is unique and more modernized in comparison to the other platforms that we have tested. It’s a breathe of fresh air since the other platform designs all look the same.
Support: Very professional
Whatever method I used for contacting the customer service department, they were able to provide us with highly professional and fast support. They were very accommodating and helpful.
Reputation: Secured and regulated brokerage
It’s rare to find a company offering binary options trading services that is licensed by the FMRRC in Russia, a financial regulator that requires strict compliance for their licensees. This definitely proves that they have the financial capacity to run this kind of business.
Editor’s Rating: 96
FiNMAX has a straightforward platform that is equipped with useful trading tools and advanced features. They have the advantage due to their high payout rates, diverse range of assets, fast processing of withdrawals and excellent customer service. Trading with this well-established broker is highly recommended.