InterMax Forex Broker

Aspect Information Registered Country/Area Saint Vincent and the Grenadines Founded year 5-10 years Company Name Intermax Pro Limited Regulation No valid regulation Minimum Deposit $25 (Personal Checking), $100 (Personal Savings), $500 (Business Checking), $1,000 (Business Savings) (Other accounts may not have a minimum deposit) Maximum Leverage 1:500 Spreads Around 1-2 pips on major currency pairs Trading Platforms MetaTrader 5 (MT5) Tradable assets Forex, Commodities, Indices, Cryptocurrencies, Stocks, Futures, CFDs Account Types Business Checking, Business Savings, Personal Checking, Personal Savings, IRAs, CDs, Trust Accounts Demo Account Not specified Islamic Account Not specified Customer Support Email: backoffice@intermaxpro.com, Phone: +357 25020626 (English-speaking team) Payment Methods Direct deposit, cash, checks, wire transfers, ATMs, branches, debit cards, ACH transfers (Specific limits may vary based on the account type and history) Educational Tools Not specified Overview of InterMax InterMax is a financial broker operating under Intermax Pro Limited in Saint Vincent and the Grenadines for 5 to 10 years. The main website is currently down, which may raise concerns about accessibility and reliability. Operating without valid regulation, InterMax poses potential risks to investors, with five complaints received in the last three months, mainly revolving around withdrawal issues and concerns about exchange rates and account banning. Despite the risks, InterMax offers a wide range of market instruments for trading, including forex, commodities, global stock indices, cryptocurrencies, individual stocks, futures contracts, and Contract for Difference (CFD) trading. The leverage ratio offered is 1:500, allowing for potential gains but also increasing the risk of significant losses. The trading platform provided is MetaTrader 5 (MT5), known for its advanced features and tools. Accounts offered by InterMax include Business Checking, Business Savings, Personal Checking, Personal Savings, Certificates of Deposit (CDs), and Trust Accounts. However, potential investors should be aware of the minimum deposit requirements and other associated fees. Customer support is available in English via email and phone. Despite the diverse range of trading options, caution and thorough research are advised due to the lack of valid regulation and customer complaints, raising concerns about the platform's credibility and trustworthiness. Pros and Cons InterMax presents a range of pros and cons for traders and investors to consider. On the positive side, it offers a diverse selection of trading instruments, including forex, commodities, indices, cryptocurrencies, stocks, futures, and CFDs. Additionally, the platform provides a high leverage ratio of 1:500, offering increased trading potential for users. Traders can utilize the popular MetaTrader 5 (MT5) platform for efficient market analysis and execution. Furthermore, InterMax offers various account types, catering to both business and personal needs, and provides multiple deposit and withdrawal methods for convenience. However, investors should exercise caution as InterMax operates without valid regulation, posing potential risks. Moreover, the main website being down limits access to information, and there have been complaints related to withdrawals and earnings withholding. Additionally, a demo account is not available, and customer support may be limited, with some accounts potentially having associated fees. Pros Cons Offers diverse trading instruments: FOREX, COMMODITIES, INDICES, CRYPTOCURRENCIES, STOCKS, FUTURES, and CFDs. Operates without valid regulation, posing potential risks to investors. Provides high leverage ratio of 1:500 for increased trading potential. Has received complaints related to withdrawals and earnings withholding. Offers MetaTrader 5 (MT5) platform for efficient market analysis and execution. Limited information due to the main website being down Various account types: BUSINESS, PERSONAL, CD, and TRUST accounts. No demo account is available Minimum deposit requirements vary based on the account type. Customer support may be limited. Multiple deposit and withdrawal methods available. Some accounts may have fees. Is InterMax Legit？ InterMax operates without valid regulation, posing potential risks to investors. WikiFX has received five complaints about this broker in the last three months, highlighting the importance of exercising caution when dealing with them. Investors should be vigilant and conduct thorough research before engaging with InterMax to protect their interests and investments. Market Instruments FOREX: InterMax offers a wide range of forex trading instruments, allowing investors to trade major currency pairs like EUR/USD, USD/JPY, GBP/USD, as well as exotic pairs such as USD/TRY, EUR/GBP, and AUD/CAD. COMMODITIES: The broker provides access to various commodity markets, enabling clients to trade commodities like gold, silver, crude oil, natural gas, copper, and agricultural products such as wheat and corn. INDICES: InterMax offers trading opportunities in global stock indices, including popular ones like the S&P 500, Dow Jones Industrial Average, FTSE 100, Nikkei 225, DAX 30, and Hang Seng Index. CRYPTOCURRENCIES: The platform allows trading in cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Bitcoin Cash (BCH), among others. STOCKS: InterMax provides access to a selection of global stocks from various industries, including technology giants like Apple Inc., Microsoft Corporation, and Google (Alphabet) Inc., as well as companies from finance, healthcare, and other sectors. FUTURES: The broker offers trading in futures contracts across different asset classes, such as equity index futures, commodity futures, and interest rate futures, providing opportunities to speculate on price movements in the future. CFDs: InterMax offers Contract for Difference (CFD) trading, allowing investors to trade various underlying assets without owning the assets directly. This includes CFDs on forex, commodities, indices, cryptocurrencies, and individual stocks. Pros and Cons Pros Cons Wide range of forex trading instruments Operates without valid regulation, posing potential risks Access to commodity markets for trading various commodities Limited information due to the main website being down Trading opportunities in global stock indices No categorization or subheading provided for the pros and cons Account Types BUSINESS InterMax provides a Business Checking account tailored to businesses of all sizes, offering convenient features like free online bill pay, mobile check deposit, and no minimum balance requirements. For businesses looking to save money, the Business Savings account offers a competitive interest rate and no monthly fees. Additionally, InterMax offers Business Lines of Credit, financing options designed to provide short-term capital for various business needs. PERSONAL InterMax offers a Personal Checking account designed for individuals and families, featuring free online bill pay, mobile check deposit, and no minimum balance requirements. The Personal Savings account is ideal for personal savings goals, providing a competitive interest rate and no monthly fees. For retirement planning, InterMax offers various Individual Retirement Accounts (IRAs), including Traditional IRAs, Roth IRAs, and SEP IRAs, all offering tax benefits. CD InterMax offers Certificates of Deposit (CDs) with fixed interest rates for specific terms, ranging from 3 months to 5 years. CDs provide a reliable way to save money over a predetermined period while earning interest. TRUST InterMax provides Trust Accounts, catering to the needs of third-party beneficiaries such as children or disabled individuals. With a variety of trust account options, InterMax helps meet the specific requirements of different beneficiaries. Pros and Cons Pros Cons Offers various account types tailored to specific needs Limited information on fees and charges Competitive interest rates on Business and Personal accounts Lack of detailed transparency on account terms and conditions Provides tax benefits on Individual Retirement Accounts Customer reviews on Trust Accounts and potential complexities Leverage InterMax offers a leverage ratio of 1:500 to its clients. This means that for every dollar of the client's own capital, they can potentially control trading positions worth up to 500 dollars. It's important to note that while higher leverage can amplify potential gains, it also increases the risk of significant losses. Traders should exercise caution and have a thorough understanding of leverage before using it in their trading activities with InterMax. Spreads & Commissions InterMax charges a spread on forex trades, which is the difference between the bid and ask prices. The spread on major currency pairs is typically around 1-2 pips. InterMax does not charge a commission. Minimum Deposit The minimum deposit required to open an account with InterMax depends on the type of account you want to open. For a personal checking account, the minimum deposit is $25. For a personal savings account, the minimum deposit is $100. For a business checking account, the minimum deposit is $500. For a business savings account, the minimum deposit is $1,000. There are some accounts that do not have a minimum deposit requirement, such as IRAs and CDs. However, these accounts may have other fees associated with them, so it is important to read the terms and conditions carefully before opening an account. Deposit & Withdrawal InterMax allows its customers to deposit money through a variety of methods, including direct deposit, cash, checks, and wire transfers. Withdrawals can be made using ATMs, branches, debit cards, and ACH transfers. It's important to note that the specific limits on deposits and withdrawals are subject to variation based on the type of account held and the individual's account history. Pros Cons Variety of deposit methods, including direct deposit and cash Specific limits on deposits and withdrawals may vary Multiple withdrawal options available, such as ATMs and ACH Minimum deposit requirements for certain account types Some accounts have no minimum deposit requirement Trading Platforms InterMax offers the popular trading platform MetaTrader 5 (MT5), providing traders with advanced features and tools for efficient market analysis and execution. MT5 allows access to a diverse range of financial instruments, including forex, commodities, indices, and cryptocurrencies. With its user-friendly interface and real-time data, traders can make informed decisions and execute trades swiftly. Pros Cons Utilizes MetaTrader 5 (MT5) platform with advanced features and tools Limited information due to the main website being down Offers access to a diverse range of financial instruments Operates without valid regulation, posing potential risks User-friendly interface and real-time data for informed decision-making No alternative platforms available Customer Support With a English-speaking team, customers can reach out for assistance via email at backoffice@intermaxpro.com or by phone at +357 25020626. Reviews InterMax has received five exposure reviews on WikiFX. The complaints mainly revolve around issues related to withdrawals. Customers reported that InterMax declined their withdrawal requests after making profits, providing various excuses to withhold their earnings. Some users also expressed dissatisfaction with the platform's exchange rates, claiming that significant deductions occurred when depositing and withdrawing funds. Additionally, there were allegations of InterMax banning trading accounts without valid reasons, leading to a loss of trust and credibility for the platform among some users. Conclusion InterMax, a company based in Saint Vincent and the Grenadines, offers a variety of market instruments, including forex, commodities, indices, cryptocurrencies, stocks, futures, and CFDs. However, one of its significant drawbacks is the lack of valid regulation, which poses potential risks to investors. In the last three months, InterMax has received five complaints on WikiFX, particularly concerning withdrawal issues and concerns about the platform's exchange rates. Additionally, some users reported that the company banned trading accounts without valid reasons, eroding trust and credibility. Traders considering InterMax should exercise caution and conduct thorough research to protect their interests and investments. FAQs Q: Is InterMax currently experiencing website issues？ A: Yes, the main website for InterMax is currently down. Q: What types of financial instruments does InterMax offer for trading？ A: InterMax provides trading options for Forex, Commodities, Indices, Cryptocurrencies, Stocks, Futures, and CFDs. Q: Is InterMax a regulated broker？ A: No, InterMax operates without valid regulation, which may pose risks to investors. Q: What is the leverage ratio offered by InterMax？ A: InterMax offers a leverage ratio of 1:500 to its clients. Q: How much is the minimum deposit required to open an account with InterMax？ A: The minimum deposit varies depending on the type of account, ranging from $25 to $1,000. Q: What trading platform does InterMax use？ A: InterMax uses the MetaTrader 5 (MT5) platform for trading. Q: How can customers contact InterMax for support？ A: Customers can reach InterMax via email at backoffice@intermaxpro.com or by phone at +357 25020626. Q: What are some of the common complaints about InterMax？ A: Some common complaints include issues with withdrawals, unfavorable exchange rates, and alleged unjustified account bans. Please note that the information provided in these FAQs is based on the data available up to September 2021, and there may have been updates or changes after that date. It's essential to verify the most recent information before making any decisions related to InterMax.