FORMAX Review
Note: FORMAX has closed and is no longer operating. We recommend clients explore other quality brokerage options available on our site. You can view our other quality broker listings here.
Formax Prime Capital (UK) Limited are one of the world’s leading providers of Forex trading technologies and services to both private and institutional traders.
By utilising our powerful trading platform, traders can gain instant access to our proprietary ‘Straight Through Processing’ (STP) technology, excellent liquidity, dedicated customer services and a broad range of advanced trading tools.
Typical Spread on Majors
| EUR/USD | 0.2 |
| GBP/USD | 0.6 |
| USD/JPY | 0.2 |
- Company Info
| Headquarters | London, United Kingdom |
| Type of Broker | ECN/STP |
| Founded | 2014 |
| Regulated By | Regulated By FCA (United Kingdom) |
| Offices In | United Kingdom, Hong Kong, China, Vietnam, Australia, New Zealand, India |
| Supported Languages | English |
| ESMA Regulation ? | This broker is regulated within the E.U and may be subject to ESMA's new Forex and CFD trading restrictions. To find out more about these restrictions, please see this article |
- Account Details
| Account Currencies | GBP, USD, EUR |
| Minimum Deposit | $1000 |
| Traders from USA Allowed | No |
| Clients Funds Segregated | Yes |
| Interest on Margin | No |
| Islamic Accounts | Yes |
| Islamic Account Restrictions | Muslim Faith Only |
| ECN / STP Accounts Offered | Yes |
| Commission on STP or ECN | From $4 / Lot round trip (ECN Raw account) |
| VIP Accounts Offered | Yes |
| VIP Account Requirements | $10,000 Minimum Deposit |
| Mini Accounts Offered | Yes |
| PAMM / MAM Solutions | Yes |
| API Solutions | Yes |
| Mobile Trading | Yes |
| Web Based Trading | No |
| Funding Methods | Credit/Debit Cards, Wire Transfer, Skrill, Neteller, China UnionPay |
| Withdrawal Methods | Credit/Debit Cards, Wire Transfer, Skrill, Neteller, China UnionPay |
- Platform Details
| Platforms Offered | MetaTrader 4, MetaTrader 4 Mobile, MetaTrader 4 iOS, MetaTrader 4 Android, Zulutrade |
| NO of Pairs | 70 |
| Cryptocurrency Trading | No |
| Pricing Digits | 5 |
| Trade off Charts | Yes |
| One-click Execution | Yes |
| Email Alerts | Yes |
| Mobile Alerts | Yes |
| Trading Server Time | GMT + 0 |
| Demo Account Expiry | Non-Expiring |
| VPS Offered | No |
- Trading Details
| Dealing Desk | No |
| Maximum Leverage | 200:1 |
| Minimum Contract Size | 0.01 |
| Execution | Market Excecution |
| Hedging | Yes |
| Scalping | Yes |
| Scalping Restrictions | No |
| Option of OCO | Yes |
| Option of FIFO | Yes |
| Liquidity Providers | 10+ |
| Negative Balance Protection | No |
- Additonal Instruments
| CFD's | Yes |
| Metals | Yes |
| Oil | Yes |
| Indices | Yes |
FORMAX Reviews
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