Finmax
IKON Finance
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while IKON Finance was established in 2011 and is based in London. Finmax holds licences including Financial Services Authority (FSA), while IKON Finance is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; IKON Finance has 10,000+. The minimum deposit is $0 at Finmax and $200 at IKON Finance.
| Feature | Finmax | IKON Finance |
|---|---|---|
| Min. Deposit | $0 | $200 |
| Regulation | Financial Services Authority (FSA) | Financial Conduct Authority (FCA) |
| Founded | 2008 | 2011 |
| Country | Bulgaria | London |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and IKON Finance, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $200 at IKON Finance). 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 | IKON Finance |
|---|---|---|
| Min. Deposit | $0 | $200 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Finmax offers MT4, MT5, cTrader, while IKON Finance 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 | IKON Finance |
|---|---|---|
| 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, ZuluTrade, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Finmax and IKON Finance compare. IKON Finance runs regular live webinars; Finmax does not. IKON Finance has a video library; Finmax does not. IKON Finance publishes daily market commentary; Finmax does not. IKON Finance integrates third-party research tools (Trading Central, Autochartist); Finmax does not. IKON Finance maintains an archive of past webinars for on-demand viewing. IKON Finance scores higher overall in education and research.
| Feature | Finmax | IKON Finance |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | Yes |
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 IKON Finance supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Finmax | IKON Finance |
|---|---|---|
| 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 Finmax and IKON Finance 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 | Finmax | IKON Finance |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |