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FXPremax Review – is it scam or safe?

FXPremax Review  – is fxpremax.com scam or good forex broker?

RATING: 2 / 5 REVIEWS ForexBrokerz FXPremax
FXPremax is an offshore broker. Your money is not safe.

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 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Micro STP N/A 0.01 lots 1:1000 1.9 pips, floating
Standard Fixed N/A 0.01 lots 1:500 3 pips
Standard STP N/A 0.01 lots 1:500 1.9 pips, floating
ECN N/A 0.01 lots 1:500 From 0 pips*

*Commission: 0,005% from the amount of transaction

 

FXPremax has four types of live trading accounts. Each of them also has a swap-free option that can be activated upon request, for religious reasons. There are also free demo accounts of the live types. The broker provides the option for a PAMM account.

 

The broker offers a little over 70 tradable instruments, including forex, spot oil and metals and CFDs on some major indices.

 

 

The Company. Security of Funds

 

Company Country Regulation
Premax Capital Ltd UK No

 

FXPremax is owned by the company Premax Capital Ltd. It provides an address in London, but we could not find a company registration in UK's Companies House registry. In the contacts section of the broker's site are listed telephone numbers for UK, Russia, Hong Kong, Thailand and Malaysia. FXPremax explicitly says it does not accept clients from US.

 

The broker also claims it is a licensed FSP with the offshore Financial Service Provider Commission (FSPC), but our check revealed that the license has expired on January 29, 2017 and it seems it has not been renewed, several months later.

 

Judging by the language versions of the site, FXPremax is mostly targeting clients in Southern and South Eastern Asia.

 

The fact that the broker is not regulated should serve as a warning for potential clients that dealing with it could be rather risky. Overall, it is safer to deal with properly regulated brokers, though there is a vast difference among the requirements and oversight provided by the different regulators. UK's FCA and the Australian Securities and Investment Commission (ASIC), for example, are known for their strict requirements and robust oversight.

 

 

Trading platform

 

Like the vast majority of forex brokers across the world – MetaTrader 4 (MT4), but only in its desktop version.

 

 

MT4 has been around for 10 years and is preferred by brokers and traders alike because of its stability and user-friendliness. Besides, MT4 has many functionalities and charting and technical analysis tools. It supports multiple types of orders, autotrading, Expert Advisories and hedging. The platform also lets users devise and implement own trading strategies and allows hedging. Among other things, MT4 supports money management accounts as well.

 

 

Promotions

 

FXPremax is rather generous, when it comes to types of promotions. The broker offers a welcome bonus and a no deposit bonus. There is also the option for VPS hosting and its $35 monthly fee could be waived by the broker if the trader maintains a certain sum in the client account and trades a certain sum in one order.

 

 

Methods of payment

 

FXPremax provides numerous options for client deposits. The broker accepts payments with bank transfers through local deposits in some countries. There is also the option to pay through international bank transfer and online payment systems such as Neteller, Skrill, OKPay, UnionPay and FasaPay.

 

 

Conclusion

 

Obviously FXPremax is targeting mostly Asian clients and even though some facts around the broker raise some questions, its trading conditions are fairly favorable.

 

Pros Cons
MT4 Unregulated
High leverage  
Multiple deposit options  

 

Latest news about FXPremax
No news about FXPremax. Check back later.
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Traders` reviews for FXPremax

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

FXPremax - 100% scam broker

this is a 100% unregulated and a 100% scam broker with fake reviews on the internet, do not ever try to open an account with them, as they will target your country time, when you are alseep, they will increase the spreads to over 1000 pips and make sure your account blows, if you have an ea running or open postions, i have all evidence, this is a dangours and very big scam company, you can never make a penny profit using this dangerous broker, they did it to me and my whole account wiped out , then they send me this below email ;

Re: my account 2108937583
Inbox
x

FXPremax Finance
8:39 AM (11 minutes ago)

to me
All trades are opened from the same IP, you can see information in MT4 Journal.

Case closed.

On Thu, Jun 14, 2018 at 3:21 PM, UZOCHUKWU wrote:
no i did not open any, never, it wasnt me, it was your company that closed my trades yesterday, and i did not open any new trades, but your comany blew my account, kindly fix that and send me money, i stopped all my ea before i slept

On Thu, Jun 14, 2018 at 8:17 AM, FXPremax Finance wrote:
Dear Sir,

As your statement show, you had more than 22 opened positions, you can view your statement from MT4 by clicking on 'Terminal' up on the left corner and then click on 'Account history'.

If you had EA running or any type of script please make sure to disable Auto Trading to disable your script.


Best Regards,
Finance

On Thu, Jun 14, 2018 at 1:05 PM, UZOCHUKWU wrote:
hi good day, i had an account balance,and i woke up and saw my balance 0, also i did not have any open trades, then, i see strange activties in my balance what is this?

=================================

after contronting fxpremax of what happened to my account, the next thing, they disablled my account see below;

FXPremax | Account Deactivated
Inbox
x

FXPremax info@fxpremax.com via amazonses.com
8:45 AM (12 minutes ago)

to me
FxPremaxfxpremax.com
Dear UZOCHUKWU DURUGBO,

You receive this email because FXPremax disabled your trading account.

If you think this is a mistake or if you have any other questions, please contact us at support@fxpremax.com

Best Regards,
FXPremax Customer Support

Login To Cabinet
===========================================

100% SCAM BUCKET SHOP BROKER, aviod it by all means, never give them any money.

Durugbo Uzochukwu Chinedu 06/14/2018

FXPremax Regulated Broker?

I can see that they are regulated and there licence in active in the regulator website.

Forexbrokerz Team:

FxPremax claims to be regulated by Financial Service Provider Commission, however it is not a government agency. Your money is not safe with an unregulated broker!

Beware! Looks like that the reviews below are submitted by broker employees.

Alex 04/28/2017

Good trading experience

I've tried live ecn account, fast execution, tight spread.

these are my experience in FXPremax
-deposit and withdrawal done within 1 day
-protect negative balance
-deposit and withdrawal with fixed rate through local in Malaysia
-receive cashback rebate in account instantly
-profit can be withdraw without any problem,based on my previous trading experience in another broker

I have been trading forex with FXPremax for 2 years, they are good and convenient to trade through mobile or desktop.
5 stars for FXPremax,keep it up!

Natalie 04/07/2017

Great broker

Excellent broker. withdrawals very very fast in minutes, instant self rebate ,support 24/7.
I trade two years with FXPremax and not a single problem.

Alex 04/07/2017

Easy Deposit and Withdrawal

Fast respond, many deposit withdrawal and rate options. no trouble in trading.

Genuska 04/07/2017

Good fo trading Forex

i have tried demo and real and they are okay, no trouble to use, everything is fine.

Riza 04/06/2017
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