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FXOptimax Review 2024

Founded in 2009, FXOptimax is a forex broker operated by FXOptimax Ltd. that is headquartered and registered in Saint Vincent and the Grenadines.

Fxoptimax shares the belief that an excellent trading condition will boost trading profitability. And so, committed to providing such conditions, which pave the way for our clients to achieve success in the highly demanded forex market.

Fxoptimax is offering its website, https://www.fxoptimax.com/, in different languages including English, Chinese, and Indonesian, while the login page is offering, in addition to the previously mentioned languages, Portuguese, Spanish, Arabic, Urdu, Thai, Russian and Persian.

There are quite mixed comments and reviews about FXOptimax on the internet. So if you are wondering about my FXOptimax review, you can continue reading this article. Is FXOptimax regulated or scam broker? Which bonus and promotion campaigns do they offer? What are FXOptimax account types, spreads, maximum leverage and payment methods?

Regulation is the main pillar of any forex broker in the market where they can make or break the name of the broker and based on it the clients would choose to either trade or not to trade with such brokers. And since regulations are carried out by financial regulatory organizations, not all regulators hold a great impact on their licenses.

Some regulators force audits and rules for the brokers to follow in order to acquire the license, while others don’t force such rules. Some of the big names in the market are also among the strictest regulators, ASIC in Australia, FCA in the UK, and CySec in Cyprus.

Fxoptimax is a Saint Vincent and the Grenadines company with license number 21417 IBC 2013. Where any activity by FXOptimax Ltd is supervised and regulated by the authorities of Saint Vincent and the Grenadines under the International Business Companies Act.

The authorities of Saint Vincent and the Grenadines don’t represent any financial regulator like the ones I’ve mentioned before. Fxoptimax also claims the segregation of funds is guaranteed into separate bank accounts in GCC and Africa. Also, the broker states that they follow the STP business model, where no conflict of interest takes place by any means.

Being licensed isn’t the same as being regulated. regulation takes place via financial regulatory organizations that force audits and rules for brokers to follow in order to gain the regulation that, in turn, makes a trusted name for any broker in the forex market.

The promise of Fxoptimax to believe them with the regulation seems to be nothing but an empty promise with no factual grounds.

At the same time, Fxoptimax claims to be working with major banks for funds security which includes some organizations that are regulated via the FCA. Fxoptimax cooperates with world-renowned major FX banks such as DB, Citi, Nomura, and others.

If you are thinking to trade with a large amount of capital I recommend you choose brokers who are regulated by respected regulators like FCA, ASIC or CySEC.

There is only one account offered at Fxoptimax, which is a big disadvantage towards the broker where no options are given to clients to choose from.

The account offered at Fxoptimax offers $10 as the minimum deposit, with a maximum leverage of 1:1000. Market execution is offered where the spreads are floating and starting from 0 pips. There is no overnight swap applied to this account.

The minimum lot to be traded with is the micro lot which is 0.01 from the standard lot. No commissions are applied and the sop out level that is offered is 20%. Expert Advisors support, No restriction on trading style, including hedging and scalping, Professional multilingual supports

Islamic swap-free account is available too as it’s convenient for traders who don’t want to pay or take swaps on their trades. traders from Islamic countries of those following Islamic belief find this account type to be most convenient.

There is also the option to open a demo account within Fxoptimax, which is a good advantage to be mentioned in this Fxoptimax Review where demo accounts provide a safe trial environment for traders who wish to test out their knowledge or those who want to try new trading strategies and techniques. The fact that Fxoptimax is allowing trading within a demo account to benefit from such a chance, also to test out the broker before trading in the real markets, represents a satisfactory pro point towards Fxoptimax.

No information is offered on the Fxoptimax platform on any details regarding the payment methods whether that was deposit or withdrawal from live accounts. It’s a great shame to have a broker house without information to be given to the clients before initiating the process of opening a real account.

That itself represents a major warning to traders in the market where the possibility of turning out as a scam or fraud broker is quite high.

Adequate customer service is offered at Fxoptimax, where you can get in touch through different ways to get any kind of support you’re seeking. The contact section within the website of Fxoptimax contains a form regarding the type of support ur looking for where you can just fill out the form and send it the customer support will get in touch with you.

The address of Fxoptimax is clearly stated on the same page which is Suite 305, Griffith Corporate Centre, Kingstown, Saint Vincent and the Grenadines, West Indies. If you want to get in touch via a phone call, the global contact number is provided which is +43 720 145700.

Email support is also offered through different departments within the organization of Fxoptimax. You can send a mail to support@fxoptimax.com for general support queries, or you can send it to partners@fxoptimax.com if you want to be connected to the partnership department. For technical support send to admin@fxoptimax.com.

Islamic swap free

Where the accounts that are offered at Fxoptimax are Islamic swap-free by default. And there is no charge for any overnight order in your account.

Leverage

Where the maximum offered leverage is 1:1000 for equities between $0-3000. Leverage can be 1:500 for equities of $3001-20000. It can reach 1:200 for equities of $20001-50000. And leverage of 1:100 is offered for equities of $50001-100000. For equities of $10000 and above the leverage can be negotiable.

Pending orders

Including buy stop, sell stop, buy limit and sell limit will be executed only if you have at least a 120% free margin level after the pending order is opened. It’s also applied to pending orders intended for hedging.

False Price Protection Mechanism

Fxoptimax implements a protection mechanism to prevent an order from being executed by spike or false price.

Over the Weekend and Events

Fxoptimax may temporarily reduce the leverage to 1:100 or any other level on Friday, the last day before the holiday or any other possible event that warrants special measures.

High-Risk Trading

Fxoptimax reserves the right to reduce the leverage of the trading account and notify the trader after adjustments are made.

I can say that throughout this Fxoptimax review, the Fxoptimax website is one of the worst websites that I saw. No information is provided and barely any details about the Payment options.

Trading conditions seem to be the basis that is offered in any other broker in the market yet, there’s nothing special about Fxoptimax to be offered to clients. The low minimum deposit and the high leverage are making it a bit hard to trust Fxoptimax. Trading tools are absent from the broker’s platform where no information is given on what kind of CFDs are offered for trade and what can you use and what not to be used.

The trading platforms are also non-existent where it’s only a web trader platform with a B2B database but no other details about it. MT4 and MT5 are lacking where they’d have made a bit of a difference towards the position of the broker in the market.

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 deposit a high amount of money just in case.

I’d recommend thinking twice before trading with Fxoptimax, you can find ASIC or FCA-regulated brokers on my blog.

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