Fake TradeMax Spreads, leverage, minimum deposit Revealed

　　General Information

　　Founded in 2013, TradeMax presents itself as a financial services company regulated by the Vanuatu Financial Services Commission, claiming to provide its clients with powerful trading platforms (MetaTrader4, Pulse Trader Platform), leverage up to 1:400, floating spreads on rich tradable assets, as well as a choice of four different account types.

　　Market Instruments

　　TradeMax advertises that it offers a wide range of trading instruments in financial markets, including forex, CFDs on stock, stock index, futures and funds, commodities (precious metals, energy) and virtual currencies.

　　Account Types

　　There are four live trading accounts offered by TradeMax, apart from demo accounts, namely Standard, Premium, Pro and Raw. Opening a Standard account requires the minimum initial deposit amount of $1,000, while the other three account types with the much higher minimum initial capital requirements of $50,000, $100,000 and $100,000 respectively.

　　Leverage

　　TradeMax offers the maximum leverage ratios as high as 1:400 for forex, 1:100 for oil (XTIUSD), 1:200 for Gold, 1:100 for oil and Silver, and 1:5 for Bitcoin. Also, traders holding different account types can experience quite different maximum leverage ratios. Clients on the Standard or Premium account can enjoy the maximum leverage up to 1:400, while the Pro or Raw account can experience the maximum leverage of 1:200. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

　　Spreads & Commissions

　　Spreads and commissions are influenced by what type of accounts traders are holding. TradeMax reveals that the spread in the Standard account is slightly high with 0 commission fee, while the clients on the Raw account enjoy spreads from 0.0 pips with a commission fee of $7 or A$9 per lot.

　　Trading Platform Available

　　When it comes to trading platforms available,TradeMax gives traders two choices: Metatrader4 and Pulse Trader Platform. Both two trading platforms are advertised as customized and user-friendly. To be more specific, available on Desktop, the Web, iOS and Android, MT4 features 50 pre-installed technical indicators, price alerts, pending, stop order, trailing stops and more. While Pulse Trader Platform is only available on desktop, offering equities, warrants, options, and ETF trades, equipped with 65 indicators with order management tools, advanced order types such as stop/ trailing stop loss, real-time streaming data, as well as ETO price quotation tools and more.

　　Deposit & Withdrawal

　　TradeMax accepts deposits via Bank Wire, UnionPay, Visa, MasterCard, POLi Internet Banking, Neteller, Skrill, FasaPay, SticPay and PayTrust. The broker states that withdrawal requests submitted before 4 p.m. Sydney time can be processed on the same business day, while those submitted after 4 p.m. usually will be processed within the next business day.

　　Fees

　　TradeMax also takes some fees. For instance, overnight fees or swap charges may be charged on positions held open overnight. Also, a monthly account maintenance fee may be charged if the account balance is below $/A$100 or remains inactive for 6 months or more.

　　Customer Support

　　TradeMaxs customer support can be reached through telephone: +61280368388, Fax: +61280368389, email: support@trademax.global or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like Facebook and WeChat. Company address: Level 28, One International Tower, 100 Barangaroo Avenue, Sydney NSW 2000, Australia.