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Formax Prime Review

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Formax Prime is a leading forex broker that offers its clients a range of trading instruments, platforms, and educational resources. The company has been operating in the forex market since 2014 and is regulated by the Financial Conduct Authority (FCA) in the UK. In this article, we will take a closer look at Formax Prime, its features, and what sets it apart from other forex brokers.

Company Background (Formax Prime)

Formax Prime was established in 2014 and has become a prominent player in the forex market. The company is headquartered in London, UK, and has offices in Hong Kong, Shanghai, and Shenzhen. Formax Prime is regulated by the FCA and holds a license to operate in the UK. This ensures the safety and security of clients’ funds, as the FCA is known for its stringent regulatory framework.The company has received several awards and recognitions for its outstanding services. In 2018, Formax Prime was awarded the “Best Forex Broker” award at the China Forex Expo. It has also been nominated for several other awards, including the Best Forex Trading Platform award. These accolades reflect the company’s commitment to providing its clients with high-quality services and products.Related Post: Interactive Brokers Review 2023: Features, Fees & User Feedback

Trading Platforms

Formax Prime offers its clients a choice of two trading platforms, MT4 and Formax Prime EDGE. MT4 is a popular trading platform that is widely used in the forex industry. It is user-friendly and offers a range of features and tools, including technical analysis, trading signals, and automated trading. The platform is highly customizable, allowing traders to tailor it to their specific needs.Formax Prime EDGE is a proprietary trading platform that offers advanced charting tools and real-time market data. The platform is designed for professional traders who require advanced features and tools. It offers a range of order types, including limit orders, stop-loss orders, and trailing stop orders. The platform also allows traders to create and customize their own indicators and trading strategies.Both platforms are available for desktop and mobile devices, allowing traders to access the markets anytime, anywhere. The mobile apps are available for both iOS and Android devices and offer the same functionality as the desktop platforms. This allows traders to stay connected to the markets even when they are on the go.You May Also Like: Plus500 Review 2023: Still a Top Broker for Investment?

Account Types

Formax Prime offers its clients three different account types: Standard, Pro, and VIP. The Standard account requires a minimum deposit of $1,000 and offers a floating spread starting from 1.5 pips. The Pro account requires a minimum deposit of $10,000 and offers a floating spread starting from 0.5 pips. The VIP account requires a minimum deposit of $50,000 and offers a floating spread starting from 0.2 pips.The different account types are designed to meet the needs of traders with different levels of experience and trading volumes. The Standard account is suitable for beginners who are just starting out in the forex market. The Pro and VIP accounts are designed for more experienced traders who require access to advanced features and tools.Further Reading: TD Ameritrade Review: Is It the Right Brokerage for You?

Trading Instruments

Formax Prime offers its clients a wide range of trading instruments, including forex, commodities, indices, and cryptocurrencies. Clients can trade more than 60 currency pairs, including majors, minors, and exotic pairs. The company also offers trading in precious metals, energies, and soft commodities. In addition, Formax Prime offers trading in a range of indices, including the S&P 500, NASDAQ, and FTSE 100, among others.Formax Prime also offers trading in a range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. This allows traders to take advantage of the growing popularity of cryptocurrencies and diversify their portfolios.Explore More: Unbiased Oanda Review 2023: Pros/Cons, Fees & Features

Education and Resources

Formax Prime provides its clients with a range of educational resources, including trading guides, tutorials, and webinars. The company also offers an economic calendar and news updates tokeep traders up to date with the latest market events and trends. These resources are designed to help traders improve their knowledge and skills and make more informed trading decisions.The trading guides and tutorials cover a range of topics, including technical analysis, fundamental analysis, risk management, and trading psychology. They are suitable for traders of all levels, from beginners to advanced traders. The webinars are hosted by industry experts and cover a range of topics, including market analysis, trading strategies, and risk management.Formax Prime also provides its clients with a demo account, which allows them to practice trading in a risk-free environment. The demo account comes with virtual funds and allows traders to test their trading strategies and hone their skills before trading with real money.Discover: Roboforex Review 2023: Is it the Best Trading Platform Out There?

Customer Support of Formax Prime

Formax Prime provides its clients with 24/5 customer support in multiple languages, including English, Chinese, and Russian. Clients can contact customer support via phone, email, or live chat. The company also provides a FAQ section on its website, which covers a range of topics, including account opening, funding, and withdrawals.Check out: CMC Markets Review 2023: Ultimate Guide to Trading Success

Deposits and Withdrawals

Formax Prime offers its clients a range of deposit and withdrawal methods, including bank transfer, credit/debit cards, and e-wallets. The company does not charge any fees for deposits or withdrawals, but clients may incur fees from their payment providers. The minimum deposit amount is $1,000 for the Standard account, $10,000 for the Pro account, and $50,000 for the VIP account.More Resources: Forex.com Review 2023: Ultimate Trading Platform for Beginners

Final Verdict About Formax Prime

Formax Prime is a reputable forex broker that offers its clients a range of trading instruments, platforms, and educational resources. The company is regulated by the FCA, which ensures the safety and security of clients’ funds. Formax Prime offers two trading platforms, MT4 and Formax Prime EDGE, which are available for desktop and mobile devices. The company offers three different account types, designed to meet the needs of traders with different levels of experience and trading volumes. Formax Prime offers its clients a range of trading instruments, including forex, commodities, indices, and cryptocurrencies. The company provides its clients with a range of educational resources, including trading guides, tutorials, and webinars. The company provides 24/5 customer support in multiple languages and offers a range of deposit and withdrawal methods. Overall, Formax Prime is a reliable forex broker that provides its clients with high-quality services and products.

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