Minimum Deposit: $10
Maximum Leverage: 1:1000
My Score: 2.7
Founded in 2009, FXOptimax is a forex broker operated by FXOptimax Ltd. that headquartered and registered in Saint Vincent and the Grenadines. I can say their website is one of the best websites that I saw. Also, looks quite professional. You can find all the information you need, even the original license of the company.
There are quite mixed comments and reviews about FXOptimax on the internet. So if you are wondering my FXOptimax review, you can continue reading this article. Is FXOptimax regulated or scam broker? Which bonus and promotion campaigns they offer? What are FXOptimax account types, spreads, maximum leverage and payment methods?
Bonus and Promotions
I can say FXOptimax is very generous about bonus and promotions. They are giving %25 deposit bonus for each deposit above $100. But of course, in order to get that bonus, you need to meet some requirements. For example, if you deposited $100 to your account, you need to close 25 lot trades to get $25 bonus. Yes, it not so simple getting that bonus but I think it’s better than nothing.
Regulation & Licenses
FXOptimax Ltd. is a licensed company in Saint Vincent and the Grenadines but they are not regulated by any watchdog. They are claiming they regulated by authorities in Saint Vincent and the Grenadines but the, as far as I know, these are not very respected and serious authorities. So, I’m not saying they are a scam broker, but before choose to work with them you need to be careful. Because if you encounter any problems, there is no regulator cannot complain about them.
If you are thinking to trade with a large amount of capital I recommend you to choose brokers who are regulated by respected regulators like FCA, ASIC or CySEC.
Account Types and Spreads
There are 3 different account types at FXOptimax. 4-Digits, Precision and Pro account. Maximum leverage ratio of precision and 4-Digit account is up to 1:1000. And up to 1:500 for Pro account. 4-Digit account offers fixed spread (2 pips) which is very nice, Pro account offer (average 0.2 pips+ $7 per lot per round turn) floating spreads and Precision account also offers floating spreads starts from 1.8 pip. I can say FXOptimax’ spreads and leverage ratios are very competitive and advantageous.
Hedging and scalping are allowed at FXOptimax and 34 popular forex currency pairs (including exotics), and commodities like gold and silver are available on their platform. However, cryptocurrencies are missing.
Worlds most popular forex trading platform (also my favorite) MetaTrader4 available at FXOptimax. This is another advantage of them because traders can use various indicators and expert advisors on MT4. Also, it’s a stable, fast and user-friendly software.
FXOptimax offers various deposit and withdrawal methods like Bank wire transfer, Neteller, Skrill, credit card, Fasapay, Perfect Money and OK Pay.
The wire transfer method may be a little slow. Because of the swift procedure, this method of transferring money can be a little slow. If fast money transfer is important to you, I would not recommend you to choose this method.
Among the methods offered by FX Optimax, a significant number of popular e-wallet systems can be accessed. However, extra fees may apply.
FXOptimax is a Saint Vincent and the Grenadines based unregulated broker. I think this is their weakest side. They may be not a scam broker, but I don’t recommend you to deposit hight amount money just in case. On the other hand, spreads are very low, minimum deposit limit is low ($10) and leverage ratio they offer is very high. If regulation is the most important thing to you, you can find FCA or ASIC regulated brokers in my blog.