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Promax Trading foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://my.promaxtrading.com/user/signup, about the company's legal and temporary regulatory information, the company's address Flat #2, Floot #2, Bulding Abdullah Obaid Mohd, Abdulla AL Dhaghaya GOLD SOUQ, DUBAI, UAE.

Promax Trading Forex Broker

Basic information

Registered region
Saint Lucia
Operating period
--
Company Name
Promax Trading Limited
Abbreviation
Promax Trading
Company employee
--
Customer Service Email Address
support@promaxtrading.com
Contact number
+97142632571
Company address
Flat #2, Floot #2, Bulding Abdullah Obaid Mohd, Abdulla AL Dhaghaya GOLD SOUQ, DUBAI, UAE
Keywords
5-10 years
Suspicious Regulatory License
MT5 Full License
Regional Brokers
High potential risk

Company profile

Registered in St. Vincent and the Grenadines Regulated by No effective regulation at this time Year(s) of establishment 2-5 years Trading instruments Currency pairs, indices, commodities, metals, energy, stocks Minimum Initial Deposit $200 Maximum Leverage 1:500 Minimum spread 0.0 pips onwards Trading platform MT5, own platform Deposit and withdrawal method skrill, credit/debit card, webmoney, neteller, bank wire, unionpay, knet, fasapay Customer Service Email/phone number/address/live chat Fraud Complaints Exposure No for now

  General information and regulations of Promax

  Promax is an online forex broker registered in Saint Vincent and the Grenadines with an operating time of 2-5 years.

  In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.

  At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.

  Market instruments

  Currency pairs, indices, commodities, metals, energy, stocks.....Promax allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Promax. cryptocurrencies are currently unavailable.

  Spreads and commissions for trading with Promax

  In the case of Promax, the spreads and commissions depend on instruments and accounts. For premium and ultimate accounts, the commissions are respectively 8 USD and 5 USD per lot, while for other two accounts types there is no commission. The spreads are variable and will be different for different instruments and accounts.

  Account Types for Promax

  Demo Account: Promax provides a demo account that allows you to try out the financial markets without the risk of losing money.

  Live Account: Promax offers a total of 4 account types: starter, premium, ultimate and pamm. The minimum deposit to open an account is $200, $5,000, $25,000 and $500 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, a starter account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.

  Trading platforms offered by Promax

  The MT5 trading platform features powerful charting capabilities, including over 50 different technical indicators and intraday analysis tools. Access from a variety of devices also makes trading easier for users.

  Leverage offered by Promax

  Promax offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

  Deposit and withdrawal methods and fees

  In terms of deposit and withdrawal, like many good brokers, Promax provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc. possible payment methods are: skrill, credit/debit card, webmoney, neteller, bank wire, unionpay, knet, fasapay.

  Educational resources

  A series of educational resources is available at Promax, such as trading tools, economic calendar, technical analysis, forex news, commodities news, indices and shares news, etcetera.

  Customer support of Promax

  Below are the details about the customer service.

  Language(s): English

  Service Hours: 24/5

  Email: support@promaxtrading.com

  Phone Number: +994 55 839 47 96

  WhatsApp: +994 55 839 47 96

  Social media: Facebook, Instagram, LinkedIn, YouTube, twitter, telegram, etcetera

  Users exposures on WikiFX

  We have not received any reports of fraudulent activity at this time. However, this does not necessarily mean that this broker is safe and you should remain vigilant to prevent being scammed.

  Advantages and disadvantages of Promax

  Advantages:

  High leverage

  MT5

  Sufficient information

  Educational resources

  Many instruments available

  Demo account

  Negative balance protection

  Disadvantages:

  No effective regulation

  No MT4

  No copy trading

  Frequent asked questions about Promax

  Is this broker well regulated?

  No, it is currently not effectively regulated and you are advised to be aware of its potential risks.

  Does this broker offer negative balance protection?

  Yes, Promax offers negative balance protection, which means you will never lose more than the money you deposited.

  How much leverage does this broker offer?

  The maximum leverage of Promax is 1:500. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information.

Rating Index

Zero

Minimum Deposit
$10

ECN

Minimum Deposit
$10

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Latest Reviews

0074756

0074756

India

without notice account dicebled for scam

Exposure

8h

12584612

12584612

United Arab Emirates

This broker does not pay IB commissions and wiped out all my backend data

Exposure

2024-11-14

Mohamed Lewaa

Mohamed Lewaa

Vietnam

Trading on this platform is just okay, mostly because the customer service team handles issues in an unprofessional manner... But the returns are pretty solid.

Neutral

2024-07-31

Promax Trading Forex Broker has an overall rating of 2.07, Regulatory Index 0.00, License Index 0.00, Business Index 7.03, Software Index 7.73 Risk Control Index 0.00.