FORMAX-Some Important Points about This Broker

General Information & Regulation

Formax Prime Capital UK Limited (Formax Markets) is one of the British established Forex trading providers and investment firms, founded in 2014, offering trading in currency pairs and Contracts for difference (CFDs) on indices and commodities on the MT4. Formax Prime Capital Ltd. Formax Prime Capital (UK) Limited is authorized and regulated by the Financial Conduct Authority (FRN: 624225) in the UK.

Market Instruments

Formax Prime Capital offers over 79 different instruments to trade, including over 62 currency pairs, indices and commodities. However, popular assets like metals, crypto currencies are not available.

Formax Minimum Deposit

Formax Prime Capital gives traders a choice of two basic account types, the ECN commission-free account and the ECN Raw account. The minimum deposit to start a basic account is ￡1000，which is way too high for most regular traders to get started, Actually, most traders would requires the much less initial deposit of $100 to $200.

Formax Leverage

Formax Prime Capital offers leverage up to 1:200 for all account types, which is average. Yet most brokers provide higher levels. However, inexperienced traders are advised not to use way too high trading leverage in case of heavy fund losses.

Spreads & Commissions

Like most brokers, Formax Prime Capital takes a fee from the spread. Formax Prime Capitals minimum spread for trading EUR/USD is 0.6 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. ECN commission-free accounts is commission-free, but the spread is higher (markup included), while the Raw ECN one involves a commission based on the trading volume.

Formax Trading Platform

Formax UK supports the popular MetaTrader 4 (MT4), desktop, and mobile versions available. This is the most widely used forex trading platform, because it is easy to use and traders are able to entirely automate their operations by choosing from a wide range of Expert Advisors (EAs) and let the program do all the work. Of course, the MT4 is also equipped with a professional charting package, a variety of technical indicators, and extensive back-testing environment.

Deposit & Withdrawal

Clients of Formax Prime Capital are able to make deposits and withdrawals via credit or debit card payments and bank transfers. E-wallets Skrill & Neteller are also available.

Accepted currencies: USD, EUR and GBP

Customer Support

Formax Prime Capital support a limited number including. Formax Prime Capital have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Formax Prime Capital less customer support features compared to other brokers like live chat, phone and email support. E-mail support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages. Phone support supports a limited amount of Languages.