Formax Market Rated 0/5

Formax Market Guide - Read our In Depth 2021 Formax Market Review

This Formax Market review was written by industry experts with over 20 years of financial experience in Forex, Social Trading.
The content in this Formax Market review does not apply to US users.

Benefits of Trading with Formax Market

Formax Market Review 2021 Quick Summary
💰 Min Deposit 1
👱‍♂️ Used By 10,000 Formax Market users and traders
📆 Founded 2012
🌍 HQ UK
👮‍♂️ Regulation Unregulated
🚫 Excluded Countries Formax Market is not available in the following countries : US

Open Formax Market's Website

Losses can exceed deposits

learn more Learn more about eToro. 67% of retail investor accounts lose money when trading CFDs with this provider.

What is Formax Market?

Formax Market are a global online financial trading platform and multi asset broker founded in 2012

Over 9 years later Formax Market has grown to offering retail investors Forex trading, and Social trading.

Formax Market are a global broker. Formax Market have a head office in UK.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this Formax Market review and assess how well the Formax Market platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like Formax Market can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of Formax Market we breakdown the pros and cons. What Formax Market are able to offer, what countries Formax Market are available in. Who Formax Market are regulated by and more.

Formax Market Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this Formax Market review useful.

This review of the Formax Market platform is very detailed. If you are interested in trading with Formax Market in any capacity please take the time to read and research the whole Formax Market review.

We have tried to explain the ins and outs of financial trading through the Formax Market platform as plainly as possible so that you the trader are as informed as possible before you start to use the Formax Market trading tools and depositing and withdrawing funds from Formax Market.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with Formax Market like Forex trading, and Social trading. you should have confidence in Formax Market and know that the management of your financial investments on the Formax Market platform are in good hands.

At the bottom of this Formax Market review you can also learn about some pretty good alternatives to Formax Market

With this Formax Market review we hope to help you see if Formax Market is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Formax Market that will help you get off to a good start in the world of online trading.

Formax Market Review Table of Contents

Formax Market review
Formax Market is a Multi-Assets Trading Platform with over 50+ Assets

Learn more about Formax Market. Formax Market is a multi asset platform with 50+ tradable Assets. Assets available on Formax Market include Forex, Social Trading.

Formax Market trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex, Social Trading are considered financial assets.

Features of Formax Market

Formax Market review
What you should know

Formax Market offer two ways to trade: Forex, Social Trading.

With Formax Market you will need a minimum deposit of $1. You can sign up for a demo account to acquaint yourself with Formax Market platform.

Formax Market are able to accommodate various levels of traders whether you are experienced or a beginner.

Are Formax Market safe?

When choosing a broker like Formax Market the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2012, and in operation for 9 years Formax Market have a head office in UK.

Formax Market is not regulated. This means Formax Market are not supervised by any regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Formax Market, this will be honored.

Losses can exceed deposits

Is my money safe with Formax Market?

Any payments funded to Formax Market accounts by traders are held in a segregated bank account.

For added security Formax Market use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

What are Tier 1 banks and why should Formax Market use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in Formax Market deposited in a Tier 1 bank?

Having any money you deposit with Formax Market means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if Formax Market goes out of business for some reason.

Therefore, we can safely conclude that Formax Market is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex, Social Trading is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. Formax Market also clearly state on their platform that Losses can exceed deposits.

Now that we have answered some important questions regrding Formax Market. let us look at the Formax Market features in more detail.

Try creating two accounts when you are working with Formax Market. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Formax Market

Losses can exceed deposits

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

How Formax Market as a Company Compare Against Other Brokers

Broker Formax eToro IC Markets XTB
Year Established 2012 2007 2007 2002
Head Office UK Cyprus, UK Australia Poland
Regulation Unregulated Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
Used By 10,000+ Formax Market users 20,000,000+ eToro users 180,000+ IC Markets users 250,000+ XTB users
Negative balance protection No Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit Formax Market Visit eToro Visit IC Markets Visit XTB
Risk Warning Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Formax Market review
Formax Market Pros and Cons

What we like about Formax Market

  • Used by over 10,000 Formax Market users and traders
  • Established in 2012
  • Min. deposit from $1

What we don't like about Formax Market

Formax Market review
Formax Market Regulation and Licensing in more detail

Formax Market are not supervised or regulated by any well known regulatory bodies. Its normal to find online brokers like Formax Market that are not regulated yet appear to be legitimate.

Formax Market maybe relatively new. Some brokers provide their service under offshore licenses to save operational costs. Regulatory licensing can be very costly. We recommend only trading with regulated brokers. Should anything go wrong with Formax Market you are not guarenteed help in a difficult situation.

  • Unregulated

Is Formax Market Global?

Yes, Formax Market is global as Formax Market is available in over 194 countries.

Formax Market is a global trading platform in the sense that it operates in 194 nations including nations in Europe, Asia, Oceania, and Africa. Major countries Formax Market covers include the UK, Germany, Australia, South Africa, Thailand, and China. Formax Market has a total of more than 10,000 users.

Formax Market review
Formax Market Fees Explained

  • Formax Market doesn't charge withdrawal fees
  • Formax Market does charge a fee for inactive accounts.
  • Formax Market does charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How Formax Market Fees Compare Against Other Brokers

Broker Formax eToro IC Markets XTB
Min Deposit 1 200 200 0
Withdrawal Fees No Yes No varies
Inactivity Fees Yes No No
Deposit Fees Varies No Varies No
CFD Commission Fees No Yes Yes

Formax Market Minimum Deposit

Formax Market require a minimum desposit of 1 GBP/USD when opening an Formax Market trading account.

A minimum deposit is the minimum amount of money required by Formax Market to open a new online brokerage account with them.

Dont be scared off by brokers like Formax Market charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Formax Market Withdrawal Fees

Formax Market doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

Formax Market for example allow you to withdraw your funds to Credit cards, Bank Transfer, Neteller, UnionPay.

Formax Market Inactivity Fees

Formax Market does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Formax Market Desposit Fees

Formax Market does charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Formax Market Commission Fees

Formax Market does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Formax Market review
What can you trade with Formax Market?

Be aware that Different entities under Formax Market Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with Formax Market over 50 instruments infact.

If you are looking for Forex brokers to trade currency pairs on global Forex markets Formax Market offer over 65 currency pairs.

Compare Formax Market with eToro and IC Markets below.

Losses can exceed deposits

How Formax Market Trading Options Compare Against Other Brokers

Broker Formax eToro IC Markets XTB
Instruments Available 50 2000 232 4000
Platforms MT4, Mirror Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 65 50 65 57
Major Forex pairs Yes Yes Yes Yes
Minor Forex pairs Yes Yes Yes Yes
Exotic Forex pairs Yes Yes Yes Yes
Cryptocurrencies (availability subject to regulation) No Yes Yes Yes
Commodity CFDs        
Commodities Offered 0 31 19 21
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 0 2042 110 1696
UK Shares Yes No Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
Risk Warning Visit Formax Market
Losses can exceed deposits
Visit eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit XTB
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Formax Market review
Trading on Formax Market web platforms and other applications

Formax Market offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

Formax Market also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Formax Market's platforms

Is the Formax Market Trading Platform Secure?

Formax Market safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. Formax Market also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating Formax Market.

Formax Market Trading Platform Options

Once you have logged into your Formax Market account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)

Formax Market does not offer the MetaTrader 5 (MT5) trading platform. If you are looking for a online platform that does support MT5 click here

Formax Market does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options Formax Market gives you.

Formax Market review
Formax Market MetaTrader 4 (MT4)

Formax Market MetaTrader 4

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with Formax Market. You can learn more about the MT4 Platform here.

You can start using the MetaTrader 4 platform with Formax Market in multiple formats including through an online web platform, Through a downloadable application for Windows PC's and Apple Macintosh computers. Formax Market MetaTrader 4 is compatible with the latest macOS Mojave. Formax Market allows traders to trade on mobile devices through Android and IOS devices like the iPhone.

Metatrader 4 Webtrader on Formax Market

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade Formax Market MetaTrader 4 on IOS Devices

You can download the Formax Market app or also trade with Formax Market through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. IC Markets customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade Formax Market MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. Formax Market provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android Formax Market MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade Formax Market MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

Formax Market MetaTrader 4 Advanced Trading Tools

The Formax Market advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. Formax Market offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade Formax Market MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

Formax Market MetaTrader 4 AutoChartist

Formax Market Autochartist provides the world's first Market Scanner available for MT4 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

Formax Market Trading benefits

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Formax Market Trading Accounts Offered

Below we give an overview on the account types that Formax Market offer. Whatever you are looking to trade the varying Formax Market account types will be able to provide you with what you need.

  • Mini account
  • Standard account
  • ECN account
  • STP account
  • Islamic account

Can I try Formax Market before I buy?

Formax Market offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Losses can exceed deposits

Formax Market withdrawal and funding methods

Please note that the list of Formax Market payment methods below depend on the Formax Market Entity and the Clients Country of Residence.

All available Formax Market payment methods available to you can be found in your Formax Market members area checked on the Formax Market website.

Formax Market offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about Formax Market

Formax Market Payment Methods

  • Formax Market accepts Credit cards
  • Formax Market accepts Bank Transfer
  • Formax Market accepts Neteller
  • Formax Market accepts UnionPay
Broker Formax eToro IC Markets XTB
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes No Yes
Neteller Yes Yes Yes Yes

*please note available Formax Market and other broker payment methods depend on the clients country of residence.

How can I start trading with Formax Market?

When opening a trading account with Formax Market, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Formax Market trading platforms here. You will need to provide some basic documentation to prove your identity as part of Formax Market onboarding and normal KYC identity checks. These checks are standard practice and help Formax Market provide a safe financial environment for their 10,000 users.

Losses can exceed deposits

Performing trades with Formax Market

With Formax Market, the minimum and maximum trade requirements vary depending on the trader and the instrument. As Formax Market offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

Formax Market are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the instruments.

Limit Risk When Trading with Formax Market Stop Loss, Formax Market Stop Limit Orders

A stop-loss order is an order placed with a broker like Formax Market to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at Formax Market

To trade effectively with Formax Market, it's important to get a have a good understanding of the Formax Market trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with Formax Market and externally.

Formax Market offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with Formax Market.

Take time to look around the Formax Market platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Formax Market

As part of our Formax Market review we review customer service options, response times and Formax Market trading platform problem resolution effectiveness.Formax Market support a limited number including .

Formax Market have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Formax Market less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at Formax Market

We tested the Formax Market live chat and it works well. We sent messages to Formax Market livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with Formax Market support in multiple languages in multiple countries. Formax Market where able to resolve our customer issues.

Email Support at Formax Market

We sent several emails to Formax Market and answer times overall were excellent. The fastest response from Formax Market was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with Formax Market, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from Formax Market.

Phone Support at Formax Market

We called Formax Market and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The Formax Market phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Formax Market team by calling in varying languages. Formax Market made an effort to make sure our queries were answered.

Overall the phone support from Formax Market was okay.

See how Formax Market Support Compares Against Other Brokers

Broker Formax eToro IC Markets XTB
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, German, Spanish, French, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit Formax Market Visit eToro Visit IC Markets Visit XTB
Risk Warning Losses can exceed deposits 67% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with Formax Market

As Formax Market is regulated by Unregulated, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Formax Market Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Formax Market's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Formax Market you can visit the Formax Market trading platform here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from # on April 09, 2021.

Is Formax Market A Good Broker?

We spent over 3 months examining Formax Market in depth. Although we found some very useful aspects of the Formax Market platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Formax Market broker.

  • Formax Market have a good track record of offering Forex, Social Trading.
  • Formax Market has a history of over 9 years.
  • Formax Market has a reasonable sized customer support of at least 10.
  • Formax Market are regulated by Unregulated. This means Formax Market fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Formax Market have regulation from a Tier 1 reputable country.
  • Formax Market has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Formax Market have an international presence in multiple countries. This includes local Formax Market seminars and training.
  • Formax Market are able to hire people from various locations in the world who can better communicate in your local language.

Formax Market Risk Disclosure

Losses can exceed deposits

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

Formax Market not quite right?

If after reading this Formax Market review, Formax Market does not fulfill your needs check out these Formax Market Alternatives.

Click here to view the best Formax Market Alternatives

We have spent years researching the best alternatives to Formax Market. Click the links below to learn more.

If you feel some of the above Formax Market are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Formax Market alternatives below.

Related Formax Market Vs Comparisons

We have covered allot in this Formax Market review, If you want to see how Formax Market compares side by side with other brokers check out our Formax Market Vs pages.

If you would like to see how Formax Market stands up against other brokers you can read some of our Formax Market comparisons below. We compare side by side some of our top rated Formax Market versus comparisons. Read our indepth Formax Market VS pages below.

Formax Market review
FORMAX MARKET Frequently Asked Questions

Read our detailed Formax Market FAQ Section updated for 2021.

Can I try Formax Market before I buy?

Formax Market do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do Formax Market accept?

Please note that the list of payment methods below depend on the Formax Market Entity and the Clients Country of Residence.

Formax Market offer the following funding payment methods Credit cards, Bank Transfer, Neteller, UnionPay, among other payment methods.
Learn more here

Losses can exceed deposits

Is Formax Market safe?

While Formax Market may not be considered unsafe, they are not regulated or supervised by any major regulatory body. Depending on your trading style this may be okay. We recommend you trade with a regulated broker.Any payments funded to Formax Market accounts by traders are held in a segregated bank account. For added security Formax Market use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Losses can exceed deposits

Is Formax Market trading good?

Formax Market is considered good and reputable to trade with Formax Market. Formax Market is used by over 10,000 active traders and Formax Market users. Formax Market offers Forex trading, and Social trading. Minimum deposit with Formax Market is 1.

Is Formax Market trading Legit?

Formax Market was founded in UK in 2012. Formax Market has been facilitating trade on the financial markets for over 9 years. Formax Market offers clients Forex trading, and Social trading. All funds deposited to Formax Market are held in segregated tier 1 bank accounts for security. Formax Market is not regulated. Although this doesnt mean Formax Market are awful, we recommend trading with regulated brokers.

Is Formax Market a good broker?

Formax Market is overseen by the top tier financial regulators Unregulated so can be considered a good broker. Formax Market allows Forex trading, and Social trading.

Is Formax Market trustworthy broker?

While having many plus points because Formax Market is not regulated we personally would not trade with them. Make any broker you trade with is regulated and places any funded money into segregated tier 1 bank accounts. If your money is in a segregated bank account the broker has no direct access to your funds so cannot misappropriate your money.

What is the minimum deposit for Formax Market?

The minimum deposit to trade with Formax Market is 1.

How long do Formax Market withdrawals take?

Withdrawing money from Formax Market processing time varies but averages 2-5 days.

Is Formax Market regulated?

Formax Market is not regulated by a top tier financial regulator.

Is Formax Market a market maker?

Formax Market is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with Formax Market?

When opening a trading account with Formax Market, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Formax Market trading platforms here.

Is my money safe with Formax Market?

Formax Market is regulated by Unregulated. One of the most important criteria for traders when choosing a broker like Formax Market is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Formax Market, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Formax Market a con?

While we would noy say that Formax Market is a con. Because they are not regulated by a top tier financial regulator we would not trade with them.

Can you make money with Formax Market?

Although traders have had great success with Formax Market. Trading on the financial markets with Formax Market is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Losses can exceed deposits.

Does Formax Market have fees?

Formax Market doesn't charge withdrawal fees. Formax Market does charge a fee for inactive accounts. Formax Market does charge deposit fees.

When was Formax Market founded?

Formax Market was founded in 2012.

How many people use Formax Market?

Formax Market is used by over 10,000 registered Formax Market users.

What is Formax Market Headquarters country?

Formax Market has its head quarters office in UK.

Does Formax Market offer negative balance protection?

Formax Market does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Formax Market offer guaranteed stop loss?

Formax Market does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Formax Market allow scalping?

Formax Market offers scalping.

Does Formax Market allow hedging?

Formax Market offers hedging.

Does Formax Market offer CFD trading?

Formax Market does not offer CFD trading.

Does Formax Market offer STP?

Formax Market offers STP trading.

How many people use Formax Market?

Formax Market is used by over 10000 Formax Market users and traders.

Is Formax Market an ECN broker?

Formax Market offers ECN trading.

Does Formax Market offer a demo account?

Formax Market does not offer demo account.

Does Formax Market offer an Islamic account?

Formax Market offers a Islamic accounts.

What are the funding methods for Formax Market?

Please note that funding methods and funding options available with Formax Market can be found in the Formax Market Members area and depend on the Formax Market client’s country of residence. Please check your specific available payment methods on the Formax Market website. Formax Market accept the following funding methods : Credit cards, Bank Transfer, Neteller, UnionPay.

Formax Market review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Formax Market brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Formax Market review written by Mark Hansen of Comparebrokers.co