Formax Market Review for 2019

Formax Market Rated 0/5
Formax Market have a low rating. We recommend you look at one of their alternative brokers.
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Formax Market Introduction

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

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Formax Market we break down 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.

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.

Benefits of trading with Formax Market

  • Regulated by: Unregulated
  • Headquarters Country : UK
  • Foundation year 2012
  • Min Deposit Fee : 1
  • Used by over 10,000 traders
  • Formax Market is not available in the following countries : US
Open Formax Market's Website

Losses can exceed deposits

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

With this 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 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 7 years Formax Market have a head office in UK.

Formax Market is regulated. This means Formax Market are supervised by and is checked for conduct by the Unregulated regulatory bodies.

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

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.

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.

What we like about Formax Market

  • Used by over 10,000 traders
  • Established in 2012
  • Regulated by Unregulated
  • Min. deposit from $1

What we don't like about Formax Market

Formax Market General Fees

  • Formax Market doesn't charge withdrawal fees
  • Formax Market does charge inactivity fees

Formax Market Commissions

  • Formax Market does charge commission on CFD shares.

What can you trade with Formax Market?

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

If you are looking at trading currency pairs Formax Market offer over 65 currency pairs.

Compare Formax Market with eToro and XTB below.

Losses can exceed deposits

FX / Currencies Formax eToro XTB
Forex pairs offered 65 50 50
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Formax Market eToro XTB
Commodities offered 0 0 21
Metals Yes Yes
Energies Yes Yes
Agricultural Yes Yes
Indiced & Stock CFDs Formax Market eToro XTB
Stocks offered 0 957 1696
UK Shares Yes Yes
US Shares Yes Yes
German Shares Yes Yes
Japanese Shares Yes Yes
Formax
Instruments
eToro
Instruments
XTB
Instruments

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's platforms

Formax Market Trading benefits :

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

Formax Market Trading Accounts Offered :

  • Mini account
  • Standard account
  • ECN 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

What funding methods do Formax Market accept?

Formax Market offer the below funding payment methods. learn more about Formax Market

  • Credit cards
  • Bank Transfer
  • Neteller
  • UnionPay

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.

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.

As a nice bonus, 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 trader, accounts and instruments.

Education resources at Formax Market

To trade effectively with Formax Market, it's important to get a have a good understanding of the XTB trading tools and the markets.

Formax Market offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing 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.

Support at Formax Market

Formax Market support a limited number including

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:

  • 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 10 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 their website 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 https://www.formaxmarket.co.uk/ on 12th August 2018.

Formax Market not quite right?

Check out these Formax Market Alternatives

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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 Comparisons

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 some indepth Formax Market VS pages below.

FORMAX MARKET Frequently Asked Questions

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?

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

Losses can exceed deposits

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.