Etrade
Finmax
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Overview
Etrade was founded in 2012 and is headquartered in United States, while Finmax was established in 2008 and is based in Bulgaria. Etrade holds licences including Securities and Exchange Commission (SEC), while Finmax is regulated by Financial Services Authority (FSA) among others. Etrade serves 10,000+ clients worldwide; Finmax has 10,000+. The minimum deposit is $100 at Etrade and $0 at Finmax.
| Feature | Etrade | Finmax |
|---|---|---|
| Min. Deposit | $100 | $0 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | Financial Services Authority (FSA) |
| Founded | 2012 | 2008 |
| Country | United States | Bulgaria |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Etrade and Finmax, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $100 at Etrade). Neither broker charges withdrawal fees. Finmax applies inactivity fees on dormant accounts; Etrade does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | Etrade | Finmax |
|---|---|---|
| Min. Deposit | $100 | $0 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Etrade offers MT4, MT5, cTrader, while Finmax supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Etrade supports social and copy trading features, which Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Etrade | Finmax |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | cTrader, SocialTrading, webPlatform, DesktopPlatform, Proprietary . | MT4,MT5 |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Etrade and Finmax compare. Etrade runs regular live webinars; Finmax does not. Etrade has a video library; Finmax does not. Etrade publishes daily market commentary; Finmax does not. Etrade integrates third-party research tools (Trading Central); Finmax does not. Etrade maintains an archive of past webinars for on-demand viewing. Etrade scores higher overall in education and research.
| Feature | Etrade | Finmax |
|---|---|---|
| Forex Education | No | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Etrade accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while Finmax supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Etrade | Finmax |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Etrade and Finmax offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 2 languages. Both brokers are comparable on support quality.
| Feature | Etrade | Finmax |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |