Question: Is Formax Prime a safe and trustworthy online FX broker?
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Formax - What's now?
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“Formax” is a trade name of Formax Prime Capital (UK) Limited, UK FCA(Financial Conduct Authority) licensed online FX & CFD brokerage company.
The broker is relatively a new broker founded in 2015, it strives to offer ECN trading environment with very low commissions.
Formax offers a very simple trading conditions and MetaTrader4.
Not so much information is provided regarding to the company itself though, there are no complains submitted against the broker so far.
Also the Financial License by FCA
ECN MT4 with Low Trading Cost
With Formax, you can trade Forex, Commodity CFDs and Index CFDs through MetaTrader4 trading platform.
As Formax offers ECN(Electronics Communication Network) trading environment, there is no conflict of interest nor prohibited trading methods on the trading platforms.
Formax does not support NBP(Negative Balance Protection), so your loss can exceed your deposit amount.
The maximum leverage is 1:200, the minimum spread starts from 0.2 pips with 3GBP per 1 round turn lot.
The required deposit amount is 1,000 GBP to start trading with Formax.
Find more information of Formax from the page here.
We no longer promote Formax Prime.
For the list of MT4 and MT5 brokers, please visit the page below.
