Finmax
fx choice
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while fx choice was established in 2016 and is based in Australia. Finmax holds licences including Financial Services Authority (FSA), while fx choice is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; fx choice has 10,000+. The minimum deposit is $0 at Finmax and $250 at fx choice.
| Feature | Finmax | fx choice |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Regulation | Financial Services Authority (FSA) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F235 |
| Founded | 2008 | 2016 |
| Country | Bulgaria | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and fx choice, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $250 at fx choice). Neither broker charges withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | fx choice |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Finmax offers MT4, MT5, cTrader, while fx choice supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. fx choice supports social and copy trading features, which Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Finmax | fx choice |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,MT5 | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Finmax and fx choice compare. fx choice runs regular live webinars; Finmax does not. fx choice has a video library; Finmax does not. fx choice publishes daily market commentary; Finmax does not. fx choice integrates third-party research tools (Trading Central); Finmax does not. fx choice maintains an archive of past webinars for on-demand viewing. fx choice scores higher overall in education and research.
| Feature | Finmax | fx choice |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Finmax accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while fx choice supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). fx choice uniquely supports PayPal and Skrill and Neteller among the two brokers. fx choice scores higher on deposit and withdrawal flexibility.
| Feature | Finmax | fx choice |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Finmax and fx choice offer live chat support. Both provide phone support. Email support is available at both brokers. Finmax supports 2 languages and fx choice supports 8, giving fx choice broader global reach. Both brokers are comparable on support quality.
| Feature | Finmax | fx choice |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |