Finmax
instaforex
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while instaforex was established in 2017 and is based in Russia. Finmax holds licences including Financial Services Authority (FSA), while instaforex is regulated by BVI FSC among others. Finmax serves 10,000+ clients worldwide; instaforex has 12,000,000+. The minimum deposit is $0 at Finmax and $250 at instaforex.
| Feature | Finmax | instaforex |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Regulation | Financial Services Authority (FSA) | BVI FSC, License Number SIBA/L/14/1082. FSC Saint Vincent, Reg. Number IBC22945. Saint Vincent, IBC24321 |
| Founded | 2008 | 2017 |
| Country | Bulgaria | Russia |
| Clients | 10,000+ | 12,000,000+ |
Fees
Fees are a critical factor when choosing between Finmax and instaforex, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $250 at instaforex). 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 | instaforex |
|---|---|---|
| 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 instaforex supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. instaforex supports social and copy trading features, which Finmax does not offer. instaforex edges ahead on platform breadth and functionality in our scoring.
| Feature | Finmax | instaforex |
|---|---|---|
| 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 instaforex compare. instaforex runs regular live webinars; Finmax does not. instaforex has a video library; Finmax does not. instaforex publishes daily market commentary; Finmax does not. instaforex integrates third-party research tools (Trading Central, Autochartist); Finmax does not. instaforex maintains an archive of past webinars for on-demand viewing. instaforex scores higher overall in education and research.
| Feature | Finmax | instaforex |
|---|---|---|
| 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 instaforex supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). instaforex uniquely supports PayPal and Skrill and Neteller among the two brokers. instaforex scores higher on deposit and withdrawal flexibility.
| Feature | Finmax | instaforex |
|---|---|---|
| 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 instaforex offer live chat support. Both provide phone support. Email support is available at both brokers. Finmax supports 2 languages and instaforex supports 8, giving instaforex broader global reach. Both brokers are comparable on support quality.
| Feature | Finmax | instaforex |
|---|---|---|
| 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 |