We all love when someone makes a promise and sticks to it no matter what, and this rule applies to the business world as well. However, some companies make promises and various claims just for marketing reasons, and if you go through our FXOptimax review, you will see why exactly this broker is not “setting high standards,” which they promised in their tagline. Admittedly, it is not easy to establish high standards in the highly competitive world of forex trading, but false claims and overblown statements are just one of the “problems” with this broker.
Leverage: 1:200 Licences: N/A
Min. Deposit: 100 USD Bonus: N/A
Spreads: from 2 pips US Clients: No
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80.6% of retail CFD accounts lose money
FXOptimax Review: About the company
Another issue that we encountered when preparing this review is the fact that this broker house provides limited information on their website, and this is also a potential sign of FXOptimax scam. We managed to discover that the company is in business since 2009 and that it is registered in Saint Vincent and the Grenadines. However, the headquarters of this enterprise are in New Zealand, and it seems that FXOptimax is a member of their Financial Dispute Resolution Service, registered under the number 123464.
Types of accounts
If these red flags about the lack of information did not prevent you from considering to invest money with this broker, you should continue reading to learn as much as possible about the trading process with this organization. For instance, all FXOptimax reviews will tell you that this broker offers three types of accounts, and they are called Classic, Precision, and Pro. Also, the broker provides a swap-free Islamic account for traders who follow the Sharia laws, and there is a demo account available as well.
FXOptimax trading platform review
In the modern trading world, it’s hard to recognize and discover a scam operation since all companies invest a lot in the quality of their software. They all want to “look good” and present themselves as genuine and professional, and FXOptimax broker follows those same guidelines. They are using a popular MetaTrader4 software solution, and this platform comes equipped with live signals, charts, and so on. Autotrading is also included, and there is also a social trading feature called “Pipsbook.”
How to trade with FXOptimax
Since our FXOptimax opinion is not a positive one, we do not encourage our readers to invest their hard-earned funds with this broker. But, in case you want to “try your luck,” we will provide you with everything you need to know so you could hopefully make a profit. FXOptimax offers a leverage of up to 500:1, which is a pretty high amount, and the minimum amount you need to invest in opening up the Classic account is just $10. This low entry fee can be a tantalizing idea for beginners and novice traders, who could be lured right into a trap so be careful and cautious.
Deposits and withdrawals at the FXOptimax broker
The quality of the banking methods is a crucial element in the safety of client’s funds, and FXOptimax provides a standard set of options when it comes to deposits and withdrawals. Most FXOptimax opinions will tell you that these features are working correctly and that you can use credit and debit cards for the transfers, or you could use some of the e-wallets services, such as WebMoney or Skrill. A relatively large withdrawal fee of $50 is present when transferring money via wire transfer, but other options are also not free of charge.
FXOptimax quality of customer support review
As you could see, FXOptimax Forex broker has its pros and cons, but the quality of customer support could be the breaking point in this review. However, they only offer phone, skype and e-mail as means of communication, and although their FAQ section is lengthy and provides a lot of information – we feel as this simply is not enough in today’s world of trading with stocks, indices, commodities, or currencies. FXOptimax also offers support in several languages, including Indonesian, Portuguese, and Chinese.
Honest FXOptimax review verdict
To conclude our FXOptimax FX broker review, we can say that this trading company is not delivering top-notch quality to the trading market, but what is even more important – the safety concerns are present with this broker. Investors like to feel safe and protected, and they want their money to be in capable hands, and broker companies that are registered in off-shore locations are not a reliable solution. That is why we believe that FXOptimax is not the right option for you to invest your funds, but luckily – the market is full of other companies and professional broker houses for you to choose from.
80.6% of retail CFD accounts lose money