Basic Information & Regulation
EuromaxFX is an online forex broker founded in 2011, offering investors over 20 currency pairs and precious metals. EuromaxFX is currently in an unregulated status.
Safety Analysis of EuromaxFX
EuromaxFX is an unregulated broker, meaning that the safety of clients' funds and trading activities on the EuromaxFX platform are not effectively regulated compared to those regulated by the FCA in the UK, CySEC in Cyprus, or even offshore. Therefore, investors are advised to stay away from this EuromaxFX broker.
Market Instruments of EuromaxFX
EuromaxFX offers investors a small range of tradable instruments, mainly more than 20 currency pairs and precious metals. Popular trading instruments, such as indices and stock CFDs, are not available.
Accounts & Leverage of EuromaxFX
EuromaxFX offers investors two account options, namely Micro and Standard accounts, with a minimum deposit of $10 for Micro accounts and $100 for Standard accounts. The maximum trading leverage for both accounts is 1:500.
Spreads & Commissions of EuromaxFX
Both accounts on the EuromaxFX platform come with fixed spreads, 2 pips on the Micro account, and 2 pips on the Standard account for EURUSD. Moreover, no additional commission is charged.
Trading Platforms Available of EuromaxFX
EuromaxFX offers traders the most popular MT4 trading platform on the Forex market, as well as the MT4 desktop and mobile versions. MT4 terminal has all the necessary tools and features for analyzing the price dynamics of financial instruments and supports automated trading programs.
Deposit and withdrawal of EuromaxFX
EuromaxFX supports traders to deposit and withdraw funds from their investment accounts via VISA, MasterCard credit & debit cards, wire transfers, and e-wallets like NETELLER, Skrill, etc.
Pros & Cons of EuromaxFX
The main advantages of EuromaxFX are:
1. MT4 trading platform
2. Two types of trading accounts available
3. Low minimum deposit amount
4. No commission on transactions
The main disadvantages of EuromaxFX are:
1. Not subject to any regulation
2. Less variety of assets tradable and no stock & index CFDs
3. Higher spreads
4. No scalping allowed
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