Trademax Global Details
Table of contents
We have to dig slightly deeper than usual in order to understand where Trademax Global Limited is coming from. First of all, the broker claims to be registered and regulated by the Vanuatu Financial Services Commission (VFSC 40356). We inspected things more thoroughly, and came up with the following piece of information in the Financial Dealers Licensee list on the VFSC website.
It seems that Trademax Global got its license early on this year, which might explain why it still hasn’t been included in the online register. However, Vanuatu is know to attract shady brokers, due to the country’s looser regulatory procedures.
The leverage is capped at 1:400. This is a very slippery amount, and can be equally profitable as it can be devastating.
We had no way of opening a demo account. The broker claims that in order to open a demo account one must contact an account manager. This is a first for us.
The trading products are Forex Pairs, Commodities and Indices. There is a fair share of assets missing. Most notably Cryptocurrencies and Stocks.
The broker can be accessed in English and Chinese.
TRADEMAX GLOBAL LOGIN
The broker comes with a fully functioning MT4 platform.
As the world’s top platform for trade MT4’s inclusion is not surprising. The platform offers some, by now, essential tools for every trader if he or she wishes to survive today’s online trading industry: Expert Advisors, plenty of technical analysis tools, fast execution speeds, customizable trading indicators and more. The platform also allows for VPS’s. The point of the VPS is to let the auto trading bots trade, without worrying that his job will be interrupted by a power failure or net crash.
The leverage as mentioned is maxed out at 1:400.
The Raw Spread Account has a $7 commission to it, although the broker does not make it clear if it’s round turn or per side. Assuming that it’s round turn, the addition of this commission will add an extra 0.7 pips to any spread while suing the Raw Spread Account.
The trader is fully integrated in Android/Apple devices, and can can be accessed through a desktop and browser trader.
TRADEMAX GLOBAL MINIMUM DEPOSIT
The minimum deposit is $1000. This huge amount is certainly a ridiculous requirement from a broker that is regulated.
There is very little information on deposits, so we were left with a chat agent to fill in the gaps.
According to support, the methods for depositing are Skrill, Wire Transfer, and Credit Card.
The two base currencies are USD and AUD.
The waiting time for deposit processes, as the agent says, are up to 2 working days. This is odd, for Credit Card and Skrill deposits should be instant.
There are no fees when making a deposit.
TRADEMAX GLOBAL WITHDRAWAL TIME AND FEES
Withdrawal methods should be the same as the ones used for depositing, if we are to trust the support agent. These are Skrill, Credit Card and Wire Transfer.
Requests submitted before 4pm Sydney, Australia time are processed during the same day. Request after 4pm are handled the next working day.
There are no fees charged by the broker for withdrawing. However, individual payment systems will charge a small amount of the withdrawn sum. This is what the support agent claimed. We are inclined to believe the agent, because many legitimate brokers, like FP Markets or Plus500, don’t charge for withdrawals.
And finally, there is no minimum withdrawal amount, information provided by the support agent.
Trademax Global is an odd broker for sure. It is regulated, but at times it behaves like an illicit one. The best example is the ridiculous minimum deposit requirement. There is also certain information, most notably concerning the deposits and withdrawals, that is missing, and one must contact the lazy support team to gather it. In conclusion, we honestly wouldn’t recommend this one. We say stick to some more solid ones.
Trademax Global compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines