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FXPremax Forex broker specializes in providing foreign exchange trading services, the company's official website https://fxpremax.com..., the company's legitimate regulatory information South AfricaFSCAFinancial Service Corporate to enhance the security of the company's address The Financial Service Centre Stoney Ground, Kingstown St. Vincent and the Grenadines

FXPremax Forex Broker

Basic Information

Registered Region

Saint Vincent and the Grenadines

Operating Period

Company Name

Premax Capital Ltd

Abbreviation

FXPremax

Company employee

Customer Service Email Address

support@fxpremax.com

Company Website

https://fxpremax.com/

Company Address

The Financial Service Centre Stoney Ground, Kingstown St. Vincent and the Grenadines

Facebook

https://www.facebook.com/fxpremax

Instagram

https://instagram.com/fxpremax/

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

Company profile

Regulation and general information FXPremaxIt is owned by Premnax Capital Ltd and claims to be located in London, UK, but no such address has been found. FXPremax it is not currently regulated in any way. market instruments FXPremaxoffers investors 70 tradable instruments, forex, spot oil, metals and cfds on major indices. minimum deposit FXPremaxoffers investors four different trading accounts, micro stp, standard fixed, standard stp and ecn accounts. FXPremax does not require a minimum initial deposit to start trading or open an account. leverage FXPremax in terms of forex trading, the maximum level of leverage offered by FXPremax It is very high, reaching up to 1:1000. Since leverage can amplify both profits and losses, it is important for traders to choose the appropriate leverage level. Also, unregulated brokers tend to offer high trading leverage to attract traders, so inexperienced traders better stay away from these brokers. Spreads and commissions the charges of FXPremax They are spread as commission for all three accounts, while ECN accounts are spread starting at 0 pips, and the commission is 0.005% of the trading volume. business platform FXPremaxIt offers traders the most popular mt4 trading platform, but it is only compatible with mt4 desktop version. deposit and withdrawal FXPremaxhelps traders deposit and withdraw funds to and from their accounts via various methods such as international bank transfers and popular online payment methods including neteller, skrill, okpay, unionpay and fasapay. Customer Support customer service can be contacted FXPremax by phone, email, a contact form, as well as some social media platforms, such as facebook, twitter, instragram, etc. pros and cons of FXPremax the advantages of FXPremax to include: 1. Four types of accounts available 2. Multiple ways of deposits and withdrawals the disadvantages of FXPremax include: 1. Not subject to any regulation 2. Only supports MT4 web version 3. Relatively high spreads and commissions 4. Do not accept US customers. Available trading accounts FXPremaxprovides a range of different business accounts because it appreciates that clients' needs can be different. It doesn't matter if you are a complete beginner or an expert trader, there will be something for everyone. the different account options are as follows: Micro STP Account no minimum deposit Maximum balance USD 3,000 75 currency pairs, gold, silver Floating spreads from 1.9 pips Leverage up to 1:500 Allowed Expert Advisors standard fixed account no minimum deposit no maximum balance 74 currency pairs, gold, silver Fixed spreads from 3 pips Leverage up to 1:500 for accounts up to 25,000 USD, up to 1:200 for accounts from 25,000 USD to 100,000 USD and 1:100 for accounts with more than 100,000 USD Standard STP account no minimum deposit unlimited maximum balance 74 currency pairs, gold, silver, CFDs Floating spreads from 1.9 pips Leverage up to 1:500 for accounts up to 25,000 USD, up to 1:200 for accounts from 25,000 USD to 100,000 USD and 1:100 for accounts with more than 100,000 USD Allowed Expert Advisors demo account allowed ECN account no minimum deposit unlimited maximum balance 74 currency pairs, gold, silver, CFDs Spreads according to market, from 0 pips Commissions 0.005% of the transaction amount Leverage up to 1:500 for accounts up to 25,000 USD, up to 1:200 for accounts from 25,000 USD to 100,000 USD and 1:100 for accounts with more than 100,000 USD Allowed Expert Advisors demo account allowed what FXPremax is it legit or a scam？ When looking for brokers to do your trading with, the first and most important step should always be to learn about their certifications. this will tell you if they are regulated by a central authority or if FXPremax is an offshore and/or unregulated entity. When a broker is unregulated or is regulated by an entity outside of your jurisdiction, you have limited or no legal recourse in the event your funds are compromised. In case of theft, complaints can only be filed if that broker is licensed by the regulator in your jurisdiction. Some examples of regulatory authorities that issue brokerage licenses are: The Cyprus Securities and Exchange Commission (CySEC) The Financial Conduct Authority (FCA) The Australian Securities and Investments Commission (ASIC) If a broker is not licensed by the regulatory authority in your jurisdiction, that probably means they are not regulated and should be avoided. Even if the brokerage is regulated, it's best to avoid it if the regulator is located outside of your jurisdiction.

FXPremax broker review

Is FXPremax safe or scam

Rating Index

Pros/Cons

Accounts

Pros

Multiple account types available, catering to different trading needs.

High leverage options up to 1:1000, allowing for greater trading potential.

User-friendly trading platform (MT4) with a wide range of tradable instruments.

Cons

Not regulated by a reputable authority, posing potential risks to traders.

Relatively high spreads and commissions compared to some competitors.

Limited withdrawal options and potential issues with fund access reported by users.

How to login to FXPremax?

fxpremax Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a fxpremax Account Registering for a fxpremax account is the first step toward trading on this platform. Follow these detailed steps to ensure a smooth registrat

FXPremax Forex Broker - Complete Information Guide

1. Broker Overview

FXPremax, established in 2014, is a forex and CFD broker that operates under the ownership of Premax Capital Ltd. The broker claims to be headquartered in London, UK, with an address listed at Suite 1, 4 Queen Street, Edinburgh, UK, but its actual operations are believed to be based in Saint Vincent and the Grenadines. FXPremax is a privately held company that primarily targets retail forex traders and institutional clients, focusing on the Southeast Asian market, particularly in countries like Indonesia and Malaysia.

Since its inception, FXPremax has sought to provide a range of trading services to its clients, including access to forex, commodities, indices, and cryptocurrencies. The broker has developed a reputation for offering competitive trading conditions, including high leverage options and a variety of account types. However, it is essential to note that FXPremax does not hold any significant regulatory licenses, which raises concerns about its operational legitimacy and the safety of client funds.

The business model of FXPremax is centered around retail forex trading, offering clients the ability to trade various financial instruments through its trading platform. The broker provides multiple account types tailored to different trading styles and preferences, thus catering to a diverse clientele.

2. Regulation and Compliance Information

FXPremax is currently unregulated, which is a significant red flag for potential traders. The broker claims to be registered with the Saint Vincent and the Grenadines Financial Services Authority (SVG FSA), but this regulatory body does not issue licenses for forex trading or brokerage services. Consequently, FXPremax operates without the oversight of any major financial regulatory authority, such as the UK Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC).

Due to its lack of regulatory oversight, FXPremax does not offer the protections typically associated with regulated brokers, such as the segregation of client funds or participation in an investor compensation scheme. This absence of regulation means that clients have limited recourse in the event of disputes or financial loss. Furthermore, FXPremax's KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures are unclear, which further complicates the safety of trading with this broker.

3. Trading Products and Services

FXPremax offers a diverse range of trading products, including over 70 forex currency pairs, which encompass major, minor, and exotic currencies. In addition to forex, the broker provides access to various CFD products, including:

Indices: Major global stock indices
Commodities: Precious metals such as gold and silver, as well as energy products like oil
Cryptocurrencies: A selection of over 35 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin

The broker frequently updates its product offerings, aiming to meet the evolving needs of its clients. FXPremax primarily serves retail traders but also offers services that may appeal to institutional clients, such as white-label solutions and asset management services.

4. Trading Platforms and Technology

FXPremax primarily supports the MetaTrader 4 (MT4) trading platform, a widely recognized platform among forex traders due to its robust features and user-friendly interface. The broker also offers Mobius Trader 7, a less common platform that provides additional trading functionalities.

The MT4 platform is known for its advanced charting capabilities, technical analysis tools, and support for automated trading through Expert Advisors (EAs). The broker's trading environment is designed for both desktop and mobile users, allowing traders to execute trades and manage their accounts on the go.

FXPremax operates on an ECN (Electronic Communication Network) and STP (Straight Through Processing) basis, which facilitates direct market access and potentially faster trade execution. The broker claims to have a reliable technical infrastructure, although specific details about server locations and API access for automated trading are not clearly outlined.

5. Account Types and Trading Conditions

FXPremax offers several account types to accommodate different trading preferences:

Micro STP Account: No minimum deposit required, floating spreads starting from 1.9 pips, and leverage up to 1:500.
Standard Fixed Account: No minimum deposit, fixed spreads starting from 3 pips, and leverage options depending on the account balance.
Standard STP Account: No minimum deposit, floating spreads starting from 1.9 pips, and leverage up to 1:500.
ECN Zero Account: No minimum deposit, spreads starting from 0 pips, and a commission of 0.005% of the trading volume.

All accounts allow for a minimum trade size of 0.01 lots, and the broker offers a demo account for traders to practice without financial risk. FXPremax also provides a swap-free option for clients who require it for religious reasons.

6. Fund Management

FXPremax supports a variety of deposit and withdrawal methods, making it relatively easy for clients to manage their funds. The available deposit methods include:

Bank Transfers
Credit/Debit Cards (Visa, Mastercard)
E-wallets (Neteller, Skrill, Fasapay, UnionPay)

The minimum deposit requirement is just $1, making it accessible for new traders. Deposits are processed quickly, typically within 12 to 24 hours, depending on the method used. However, withdrawals, especially via bank transfer, may take 3 to 5 business days to process.

FXPremax does not charge deposit fees, but there may be withdrawal fees associated with the ECN account. The lack of clear information regarding withdrawal limits and fees is a concern for potential clients.

7. Customer Support and Educational Resources

FXPremax provides customer support through multiple channels, including:

Phone Support: Available for various regions
Email: Support can be reached via email
Live Chat: Instant messaging support on the website
Social Media: Active on platforms like Facebook and Instagram

The broker claims to offer support in several languages, catering to its diverse client base. However, specific details about the service hours and language support are not readily available.

In terms of educational resources, FXPremax offers various materials, including webinars, tutorials, and market analysis. These resources aim to help traders enhance their skills and stay informed about market trends. The broker also provides trading tools such as calculators and economic calendars to assist clients in their trading activities.

8. Regional Coverage and Restrictions

FXPremax primarily serves clients from Southeast Asia, with a significant focus on countries like Indonesia and Malaysia. The broker has regional offices in various countries, but specific locations are not detailed.

However, FXPremax does not accept clients from the United States and other regions where regulatory restrictions apply. This limitation is crucial for potential clients to consider when deciding to engage with the broker.

In summary, FXPremax presents itself as a forex broker with a range of trading products and services. However, the lack of regulation and transparency raises concerns about the safety and reliability of trading with this broker. Prospective traders should conduct thorough research and consider regulated alternatives before making any financial commitments with FXPremax broker.

FXPremax Forex Broker has an overall rating of 1.57, Regulatory Index 0.00, License Index 0.00, Business Index 7.46, Software Index 4.00 Risk Control Index 0.00.

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