Finmax
fx open
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while fx open was established in 2019 and is based in Puerto Rico. Finmax holds licences including Financial Services Authority (FSA), while fx open is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; fx open has 60,000+. The minimum deposit is $0 at Finmax and $250 at fx open.
| Feature | Finmax | fx open |
|---|---|---|
| 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-F238 |
| Founded | 2008 | 2019 |
| Country | Bulgaria | Puerto Rico |
| Clients | 10,000+ | 60,000+ |
Fees
Fees are a critical factor when choosing between Finmax and fx open, 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 open). Neither broker charges withdrawal fees. Finmax applies inactivity fees on dormant accounts; fx open does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | fx open |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Finmax offers MT4, MT5, cTrader, while fx open supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | Finmax | fx open |
|---|---|---|
| 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 open compare. fx open runs regular live webinars; Finmax does not. fx open has a video library; Finmax does not. fx open publishes daily market commentary; Finmax does not. fx open integrates third-party research tools (Trading Central); Finmax does not. fx open maintains an archive of past webinars for on-demand viewing. fx open scores higher overall in education and research.
| Feature | Finmax | fx open |
|---|---|---|
| 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 open supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). fx open uniquely supports PayPal and Skrill and Neteller among the two brokers. fx open scores higher on deposit and withdrawal flexibility.
| Feature | Finmax | fx open |
|---|---|---|
| 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 open offer live chat support. Both provide phone support. Email support is available at both brokers. Finmax supports 2 languages and fx open supports 8, giving fx open broader global reach. Both brokers are comparable on support quality.
| Feature | Finmax | fx open |
|---|---|---|
| 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 |