Formax Market Rated 0/5

Formax Market Guide - Read our In Depth 2023 Formax Market Review

This detailed Formax Market review has been researched and fact checked by industry experts with over 30 years of financial experience in Forex, Social Trading.
*This content does not apply to US users.

Learn more about Formax Market.

Benefits of Trading with Formax Market

Formax Market Review 2023 Quick Summary
๐Ÿ’ฐ Min Deposit 1
๐Ÿ‘ฑโ€โ™‚๏ธ Used By 10,000 Formax Market users and traders
๐Ÿ“† Founded 2012
๐ŸŒ HQ UK
๐Ÿ‘ฎโ€โ™‚๏ธ Regulation Unregulated
๐Ÿšซ Excluded Countries Formax Market is not available in the following countries : US

Open Formax Market's Website

Losses can exceed deposits

Learn more about IC Markets.
learn more Learn more about IC Markets.
Losses can exceed deposits

What is Formax Market?

Formax Market are a worldwide financial trading platform and broker. founded in 2012

Over 11 years later Formax Market now serves over 10,000 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, finding a broker that meets your needs can be very time-consuming.

We will dive deep in this Formax Market review and assess how well the Formax Market platform functions in its role as an international multi asset trading platform for traders in 2023.

Visiting many broker websites, all of which have different language uses. Technical language and terminology can be confusing with brokers like Formax Market. Choosing or shortlisting a trading platform like Formax Market can be time consuming. Choosing a trading platform requires a significant amount of research and analysis. It can be challenging to understand each platform's various features and benefits, especially with a complex trading platform like Formax Market.

As a result, selecting the right trading platform like Formax Market requires a deep understanding of the market, trading strategies, and platform functionality. The task becomes even more daunting when considering the vast number of online brokers like Formax Market available, each with unique features, fees, and regulations.

In such a complex landscape, finding a reliable and trustworthy broker like Formax Market requires thorough due diligence and careful consideration. Some Formax Market trading features can be complex when trading on mobile or using the Formax Market online trading platform. Beginners and inexperienced traders must take the time to learn how to use the Formax Market trading tools properly. In our review of Formax Market we explain the pros and cons. What Formax Market offer, countries Formax Market are available in. Who Formax Market are regulated by and more.

Formax Market Review Screenshot

When it comes to online trading with brokers like Formax Market, carefully review Formax Market as your broker can make or break your success. Choosing the right broker is essential to ensure your Formax Market investments grow and flourish. However, beware of fake and unreliable brokers lurking in the shadows, waiting to take advantage of unsuspecting traders.

You must be diligent and thorough in your Formax Market review selection process to safeguard your hard-earned money. It's crucial to do your due diligence and research the reputation, track record and trust worthyness of Formax Market. You must also ensure the Formax Market broker's profile, trading tools, fees and regulation aligns with your needs and goals.

Remember, Formax Market needs to be your partner in your trading journey.

Our team has endeavored to break down the complex world of trading with Formax Market into easily digestible information in this Formax Market review. We want to ensure you have all the knowledge necessary to use the Formax Market trading tools confidently, from depositing and withdrawing funds to executing trades.

We understand that informed decisions with Formax Market are the key to successful trading, so we've provided this detailed Formax Market review. So, take a seat, grab a cup of coffee, and dive in to learn about Formax Market and how it can benefit you or if Formax Market is not for you.

Online investing with Formax Market can be just as risky as traditional offline investments. Therefore, conducting thorough research on the company you plan to invest with is crucial. If considering trading financial assets with Formax Market, evaluating the Formax Market platform is important. Evaluation includes researching the Formax Market management team, track record, and services.

As a trader, you should feel confident that your financial investments are in good hands with Formax Market. That's why it's essential to understand the Formax Market company policies and practices before making any investment decisions. By doing your due diligence and understanding Formax Market platform, you can make informed investment choices that align with your financial goals. So take the time to research Formax Market thoroughly and make the most of your online investing experience.

We aim to provide you with all the information in this Formax Market review you need to determine if Formax Market is the right fit for you. But we don't stop there - we also offer valuable insights into other great alternatives to Formax Market, so you can make a more informed decision and compare other brokers against Formax Market.

If you want to look at some Formax Market alternatives that might better fit your needs, we list and compare some of the best Formax Market alternatives further down this Formax Market review.

Don't be fooled by the misconception that online trading is easy with Formax Market. It can be challenging and requires significant research and understanding of the Formax Market trading tools and features. You must know what you are doing when trading with Formax Market. That's why we've compiled this detailed Formax Market review with some important information that will hopefully make you more informed when online trading with Formax Market.

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. A financial asset is any security or asset that has financial value attached, tangible or intangible. 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. The assets and products available to you on the Formax Market trading platform depends on the region of the world, you are in and the Formax Market entity you have an account.

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 considering Formax Market for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as Formax Market, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.

Established in 2012, and in operation for 11 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.

Formax Market withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like Formax Market are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. Formax Market are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of Formax Market and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. Formax Market has a reputation for efficient and reliable fund transfers, and they take great care to ensure that your money is safe and secure. When you submit a withdrawal request, Formax Market will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like Formax Market, you can enjoy peace of mind and focus on your trading activities without worrying about the safety of your funds.

Losses can exceed deposits

Is my money safe with Formax Market?

All payments made to Formax Market by traders are securely held in a segregated bank account.

Formax Market uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.

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

Formax Market partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their Formax Market clients' funds.

Formax Market clients can have greater confidence in their financial security when working with a Tier 1 bank because Formax Market are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.

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

Depositing funds with Formax Market ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if Formax Market were to go out of business unexpectedly.

Based on the information presented, it is safe to conclude that Formax Market is a secure and safe platform.

Please be aware that trading in financial assets with Formax Market carries a risk of loss. Formax Market trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex, Social Trading due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.

Formax Market emphasizes this risk on its platform and provides clear risk warnings - Losses can exceed deposits. After answering some important questions about Formax Market, let's closely examine its features.

To better understand the Formax Market trading platform, you can create two separate accounts - one with real money and the other a Formax Market demo account. A Formax Market demo account provides a risk-free environment for experimenting with the Formax Market platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in Formax Market trading decisions.

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 IC Markets Roboforex eToro
Year Established 2012 2007 2009 2007
Head Office UK Australia Belize Cyprus, UK
Regulation Unregulated Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund FCA (Financial Conduct Authority) Etoro (Europe) Limited FCA reference 523775, eToro (UK) Ltd FCA reference 583263, ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), MiFID (Markets In Financial Instruments Directive), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076
Used By 10,000+ Formax Market users 180,000+ IC Markets users 1,000,000+ Roboforex users 30,000,000+ eToro users
Negative balance protection No Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit Formax Market Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits 74% of retail investor accounts lose money when trading CFDs with this provider.

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

The online broker Formax Market is not regulated by well-known bodies, although it may seem legitimate. Limited financial regulation is common for new brokers or those operating under offshore licenses to save costs. However, trading with regulated brokers is highly recommended as they may provide protection and assistance in difficult situations. If you encounter issues with Formax Market, you may not receive adequate help or recourse.

  • 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 countries including nations in Africa, Asia, Oceania, and Europe. Major countries Formax Market covers include the UK, Germany, South Africa, Thailand, China and Australia. 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.

Formax Market Costs To Check

Modern brokers like Formax Market provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, Formax Market may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall Formax Market trading profitability.

How Formax Market Fees Compare Against Other Brokers

Broker Formax IC Markets Roboforex eToro
Min Deposit 1 200 10 50
Withdrawal Fees No No Yes Yes
Inactivity Fees No No Yes
Deposit Fees Varies Varies No No
CFD Commission Fees Yes No Yes

Formax Market Minimum Deposit

Formax Market requires a minimum deposit of 1 GBP/USD/EUR 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.

Don't be scared off by brokers like Formax Market charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.

In the trading world, brokers like Formax Market, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.

Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.

However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.

Formax Market Withdrawal Fees

Formax Market doesn't charge withdrawal fees.

Formax Market Withdrawal rules may vary across different brokers when it comes to transferring funds from your Formax Market or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with Formax Market may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.

In addition, currency conversion fees may apply if the Formax Market withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from Formax Market. Researching and comparing Formax Market withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing Formax Market funds frequently or dealing with large sums of money. Awareness of these Formax Market fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your Formax Market funds.

For example, Formax Market allows 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.

When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by Formax Market terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.

Make sure you're fully aware of all Formax Market fees and services. It's recommended that you check the Formax Market website before signing up. If you decide to close your Formax Market account, it's important to do so with the Formax Market broker customer support and obtain confirmation that no remaining Formax Market fees are due.

Brokers like Formax Market must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.

Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.

Formax Market Deposit Fees

Formax Market do charge deposit fees.

Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.

Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.

Formax Market Commission Fees

Formax Market does charge commission on CFD instruments.

Brokerage firms like Formax Market may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the Formax Market trading account level held by the trader.

Formax Market may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing Formax Market terms and conditions to understand the commission fees and any other charges that may apply is essential.

Formax Market review
What can you trade with Formax Market?

It's essential to note that the trading instruments offered under the Formax Market brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the Formax Market trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.

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

If you want to trade currency pairs on global Forex markets, Formax Market offer over 65 currency pairs.

Formax Market Compared To Other Brokers

Compare Formax Market with IC Markets and Roboforex below.

Losses can exceed deposits

How Formax Market Trading Options Compare Against Other Brokers

Broker Formax IC Markets Roboforex eToro
Instruments Available 50 2250 100 5000
Platforms MT4, Mirror Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 65 61 35 50
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 No Yes
Commodity CFDs        
Commodities Offered 0 20 21 31
Metals Yes Yes Yes
Energies Yes No Yes
Agricultural Yes No Yes
Indiced & Stock CFDs        
Stocks Offered 0 2100 0 2042
UK Shares Yes Yes 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 IC Markets
Losses can exceed deposits
Visit Roboforex
Losses can exceed deposits
Visit eToro
74% of retail investor accounts lose money when trading CFDs with this provider.

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 trading apps help you stay on top of your trades and execute them on the go.

See Formax Market's platforms

Is the Formax Market Trading Platform Secure?

You should take the security of your personal information seriously and check SSL encryption is enabled on the Formax Market trading platform to protect you on PC and mobile Formax Market platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using Formax Market web trading platforms.

Formax Market Trading Platform Options

After logging into your Formax Market account, you'll find a range of trading platform options available below.

  • MetaTrader 4 (MT4)

Please be aware that Formax Market does not currently support the MetaTrader 5 (MT5) trading platform. However, if you're looking for a broker that does offer MT5, you can check out our list of recommended brokers available through the provided link.

Formax Market does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.

Let's 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

Formax Market MetaTrader 4 (MT4) In Detail

MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on Formax Market offers traders comprehensive features and tools to enhance their trading performance. The Formax Market MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the Formax Market platform to their needs. One of the standout features of MT4 is its charting functionality, which allows Formax Market traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give Formax Market traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 Formax Market trading platform.

MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the Formax Market MetaTrader 4 (MT4) trading platform. MT4 is a platform available with Formax Market, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The Formax Market MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. Formax Market allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click 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 PCs and Apple Macintosh computers. Formax Market MetaTrader 4 is compatible with the latest macOS. 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 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.

The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.

Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.

Trade Formax Market MetaTrader 4 on iOS Devices

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

Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. Formax Market customers have instant access to the financial market and can completely manage a Portfolio on the go.

Trade Formax Market MetaTrader 4 on Android Devices

Millions of people worldwide use Android mobile devices and tablets, and Formax Market offers its clients access to the MetaTrader 4 platform on these devices. With the Formax Market MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing Formax Market traders to stay on top of their trades and react quickly to changes in the market. With the Formax Market MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.

Trade Formax Market MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators available on Formax Market are a powerful bundle of three major indicators designed to help traders make informed decisions. Formax Market MT4 Trading Central indicators include:

  • Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
  • Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.

Trading Centrals Alpha Generation Indicators can help Formax Market traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing Formax Market traders to potentially stay one step ahead.

Formax Market MetaTrader 4 Advanced Trading Tools

The Formax Market MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give Formax Market traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, Formax Market provides traders with everything they need to succeed. The Formax Market MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing Formax Market traders to analyze the market at any level of complexity.

Trade Formax Market MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.

It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.

This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.

Formax Market MetaTrader 4 AutoChartist

Autochartist on the Formax Market platform is a powerful tool designed to help traders find trading opportunities quickly and easily.

Available for Formax Market MetaTrader 4 Autochartist can scan the market using an expert advisor script.

With Autochartist, Formax Market traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save Formax Market users time and makes the trading process more efficient.

The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. Formax Market traders can navigate the platform and find the information they need to make informed trading decisions.

Formax Market Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for Formax Market traders of all experience levels.

Formax Market Trading benefits

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

Formax Market Trading Accounts Offered

Below we give an overview of 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.

  • Formax Market Mini account
  • Formax Market Standard account
  • Formax Market ECN account
  • Formax Market STP account
  • Formax Market Islamic account

Can I try Formax Market?

Formax Market provides a demo account that enables individuals to explore trading before investing their funds. By creating a Formax Market practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the Formax Market demo account can help individuals to make informed decisions before investing their money.

Open a demo Formax Market account to practice and trade.

Losses can exceed deposits

Formax Market withdrawal and funding methods

It's essential to remember that the payment methods provided by Formax Market vary based on the Formax Market entity and the Formax Market client's country of residence. To view the Formax Market payment options available, you can log into your Formax Market member's area.

Formax Market offers various funding payment methods listed in your Formax Market dashboard if available in your region. To learn more about the Formax Market funding and withdrawal options available in your area, you can explore the Formax Market website.

Formax Market provides several payment methods for funding your Formax Market account. You may utilize any of these deposit options if they are available in your region. Formax Market ensures that users have multiple payment methods to choose from, making it more convenient for verified Formax Market account holders to add funds to their accounts. However, it's important to note that the availability of payment methods may vary depending on the Formax Market user's location. learn more about Formax Market funding and withdrawal methods.

Formax Market Payment Methods

Some Formax Market payment methods are local and are available only to specific regions. Formax Market account holders should check which payment methods are provided in your region.
  • Formax Market accepts Credit cards
  • Formax Market accepts Bank Transfer
  • Formax Market accepts Neteller
  • Formax Market accepts UnionPay
Broker Formax IC Markets Roboforex eToro
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes No Yes
Skrill No Yes Yes Yes
Payoneer No No Yes No
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?

To open a trading account with Formax Market, individuals can sign up on the Formax Market website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.

The next step involves submitting identification documents for Formax Market account validation and making a deposit. Once completed, Formax Market users can download the trading platform of their choice.

It's important to note that Formax Market requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps Formax Market maintain a trustworthy financial environment for its 10,000 users. Detailed information on the Formax Market trading platforms is available on their website.

Losses can exceed deposits

Performing trades with Formax Market

The trading platform, Formax Market, provides users various options regarding the minimum and maximum trade requirements. These requirements are determined based on the specific instrument being traded and the preferences of the individual trader. This flexibility allows traders to tailor their trading experience to their unique needs and investment goals. With the ECN and STP execution methods offered by the platform, traders using Formax Market can enjoy tighter spreads and greater transparency when it comes to the pricing of their trades.

One of the Formax Market platforms notable features is its claim of having no requotes, which means traders need not be concerned about slippage when executing trades (i.e., trades being executed at a price different from the intended price). No requotes can provide Formax Market traders with greater confidence and peace of mind when trading on the Formax Market platform. It's worth noting, however, that other factors, such as market volatility and liquidity, can still affect the execution of Formax Market trades.

Like other brokers, Formax Market margin requirements can differ depending on the traded instrument.

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

Stop-loss orders are a popular risk management tool traders use on platforms such as Formax Market . By setting a specific price point for buying or selling a security, traders can limit their potential losses on a position.

Stop-loss orders are especially important for Formax Market traders not hedging their positions or using leverage, as they can be more vulnerable to significant losses. However, the circumstances in which an Formax Market trader should use a stop-loss order can vary depending on the specific trade and market conditions.

Overall, stop-loss orders can provide Formax Market traders with an effective way to manage risk and protect their investments in volatile markets.

Education Resources at Formax Market

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

Formax Market . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with Formax Market. Familiarizing yourself with the Formax Market trading platform is crucial to use it effectively.

While learning, you can also use global trading times to practice making live buy or sell trades using Formax Market. This hands-on experience can help you gain confidence and become more comfortable with trading.

Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with Formax Market involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.

Learning about the financial markets, trading platforms like Formax Market, and risk management techniques can help you become a more confident and successful trader.

Take an analytical approach to trading with Formax Market. Explore the Formax Market platform and train yourself to think systematically and logically about the markets.

While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with Formax Market, before live trading.

Customer Support at Formax Market

As part of our Formax Market review, we review customer service options, response times and problem resolution effectiveness on the Formax Market trading platform. The Formax Market trading platform supports a limited number of languages which includes .

Formax Market Available Support Types

Based on our experience, we have given Formax Market a D grade for customer support. We encountered some slow response times or Formax Market queries that were left unanswered.

Compared to other brokers, Formax Market offers fewer customer support features. They do not provide live chat support, and their phone and email support can also be slow.

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

Our team tested the live chat support of Formax Market and found it to be satisfactory. While we received a response within 25 minutes on most occasions, there were instances where we did not receive a response at all.

In addition, we tested Formax Market support services in various countries and languages and found that Formax Market were able to effectively resolve our customer issues.

Email Support at Formax Market

We tested the email support of Formax Market by sending 25 emails simultaneously, and our experience was mixed. While the answer times were generally excellent, with the fastest response being 3 hours, the slowest response was 6 days. We also encountered some instances where we did not receive any Formax Market response.

The Formax Market team did resolve and answer our queries, but the email support from Formax Market was overall average compared to other brokers we have tested.

Phone Support at Formax Market

We contacted Formax Market via phone and received quick assistance within 10 minutes of our call.

The Formax Market phone support team proved to be helpful and able to resolve our queries and issues over the phone. We also tested the multilingual support provided by Formax Market and found that they could assist us in various languages.

While we found the Formax Market phone support satisfactory, there is room for improvement in response time.

See how Formax Market Support Compares Against Other Brokers

Broker Formax IC Markets Roboforex eToro
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, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian English, German, Spanish, French, Italian
Learn More Visit Formax Market Visit IC Markets Visit Roboforex Visit eToro
Risk Warning Losses can exceed deposits Losses can exceed deposits Losses can exceed deposits 74% of retail investor accounts lose money when trading CFDs with this provider.

What you will need to open an account with Formax Market

As Formax Market is regulated by Unregulated.

As a new client of Formax Market, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with Formax Market in your region. During the Formax Market account opening process, you will be asked to provide Formax Market with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.

When registering with Formax Market have the following documents available.

  • Formax Market require a scanned colour copy of your passport, driver's license or national ID card.
  • A recent utility bill or bank statement that confirms your residential address for Formax Market compliance. This must be dated within the last six months.
  • If you plan to fund your Formax Market account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the Formax Market platform.

It's worth noting that the expiration date of the proof of address document may differ for different entities under Formax Market Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring Formax Market's platform.

However, remember that you won't be able to make trades on Formax Market until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the Formax Market KYC compliance process as soon as possible to avoid any delays in accessing the Formax Market platform's features.

It is important to note that Formax Market may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the Formax Market platform and features immediately. However, you must pass the verification process to start live trading with Formax Market, which can take up to a few business days.

To start the process of opening an account with Formax Market you can visit the Formax Market trading platform here.
Losses can exceed deposits
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested 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 investment advice. All information collected from # on September 19, 2023.

Is Formax Market A Good Broker?

We have spent over 5 years examining Formax Market in depth. Although we found some very useful aspects of the Formax Market platform that would be useful to some traders. We feel that a alternative to Formax Market may better suit you.

  • Formax Market have a good track record of offering Forex, Social Trading.
  • Formax Market has a history of over 11 years.
  • Formax Market has a reasonable sized customer support of at least 10.
  • Formax Market are regulated by the Unregulated. Formax Market is subject to strict regulatory oversight from its respective jurisdiction, which holds Formax Market (the broker) accountable for misconduct. This regulatory framework helps ensure that Formax Market operates fairly and transparently and provides Formax Market customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and Formax Market.
  • Formax Market have regulation from reputable regulators.
  • One of the advantages of using Formax Market is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from Formax Market are particularly important as Formax Market traders want to receive their money quickly. With the efficient Formax Market payment processing system, traders can enjoy faster access to their Formax Market funds.
  • Formax Market have an international presence in multiple countries. Including local Formax Market seminars and training.
  • Formax Market can 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 such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.

You will be exposed to a high risk of loss regarding leverage and margin-based trading.

Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.

It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.

Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.

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.

After extensive research over several years, we have compiled a list of the most effective Formax Market alternatives available today. If you are unsatisfied with Formax Market or want to explore other options, we recommend checking out our carefully curated list of highly-rated Formax Market alternatives. Follow the links below to learn more about these Formax Market broker alternatives and choose the one that best suits your trading needs.

Related Formax Market Vs Comparisons

Throughout our comprehensive Formax Market review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.

If you're interested in comparing Formax Market against other popular brokers in the industry, check out our Formax Market Vs pages. Our team has compiled a series of detailed Formax Market comparison articles, pitting the Formax Market platform against some of the best-rated Formax Market competitors in the market. Dive into our informative Formax Market Vs pages below to find out how Formax Market stacks up against other leading brokers.

Formax Market review
FORMAX MARKET Frequently Asked Questions

Read our detailed Formax Market FAQ Section updated for 2023.

Can I try Formax Market?

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 depends on the Formax Market Entity and the client's 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?

Formax Market have over 10,000 users. 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 bank's financial health and strength.Trading with Formax Market is risky, and because the market is so volatile, losses could happen at any time.

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 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 11 years. Formax Market offers clients Forex trading, and Social trading. All funds deposited to Formax Market are held in segregated bank accounts for security. Formax Market is not regulated. Although this doesn't mean Formax Market are awful, we recommend trading with regulated brokers.

Is Formax Market a good broker?

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

Is Formax Market trustworthy broker?

Despite any potential benefits associated with Formax Market, it is important to exercise caution when considering trading with an unregulated broker. Only trade with regulated brokers who adhere to strict industry standards and regulations. A regulated broker ensures that any funds you deposit are separate from the broker's operating funds in segregated bank accounts. A well-regulated broker cannot directly access your funds, providing added security and peace of mind. Therefore, before choosing a broker like Formax Market, check their regulatory status and ensure that money is held in a segregated account to mitigate any risks associated with unregulated trading.

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 depending on the method but averages 1-5 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 not a market maker. A market maker speeds up trading as a market maker will purchase or sell your stocks and commodities even if a buyer or seller 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. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on Formax Market trading platforms, you can follow the link provided below: Learn more about signing up with the Formax Market trading platform here. This will provide useful information and insights into the various trading platforms offered by Formax Market, enabling you to make an informed decision about which platform to choose for your trading needs.

Is my money safe with Formax Market?

Yes your money is safe with Formax Market.

Overall, strict financial regulation is essential for ensuring that trading platforms like Formax Market operate fairly, transparently, and responsibly, which ultimately benefits all Formax Market stakeholders involved.

Trading platforms like Formax Market must have strict financial regulation for several reasons:

  • Protecting Formax Market Investors: Strict financial regulation ensures that investors who use the Formax Market trading platform are protected against fraudulent or unethical behavior by the Formax Market platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the Formax Market platform.
  • Maintaining Formax Market Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the Formax Market trading platform. Regulatory procedures reduce the likelihood of the Formax Market platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
  • Enhancing Formax Market Transparency: Regulations require trading platforms like Formax Market to maintain detailed records and disclose Formax Market client information. Financial regulatory requirements enhances transparency and helps to build trust between the Formax Market platform and its investors.

Formax Market is regulated by the Unregulated. When selecting a broker such as Formax Market, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, Formax Market ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like Formax Market.

Is Formax Market a con?

While we would not say that Formax Market is a con. Because a top tier financial regulator does not regulate them, 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 do 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, 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 guaranteed 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 an Islamic account.

What are the funding methods for Formax Market?

Please note that funding methods and options available with Formax Market can be found in the Formax Market Members area and depend on the Formax Market clientโ€™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 editors, 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 of experience in financial analysis, forecasting, and financial modelling, identifying new market opportunities in Stocks, CFDs, 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