Finmax
questrade
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while questrade was established in 2019 and is based in New Zealand. Finmax holds licences including Financial Services Authority (FSA), while questrade is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; questrade has 10,000+. The minimum deposit is $0 at Finmax and $250 at questrade.
| Feature | Finmax | questrade |
|---|---|---|
| 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-F298 |
| Founded | 2008 | 2019 |
| Country | Bulgaria | New Zealand |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and questrade, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $250 at questrade). Neither broker charges withdrawal fees. Finmax applies inactivity fees on dormant accounts; questrade does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | questrade |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | Yes |
Platforms
Finmax offers MT4, MT5, cTrader, while questrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. questrade supports social and copy trading features, which Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Finmax | questrade |
|---|---|---|
| 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 questrade compare. questrade runs regular live webinars; Finmax does not. questrade has a video library; Finmax does not. questrade publishes daily market commentary; Finmax does not. questrade integrates third-party research tools (Trading Central); Finmax does not. questrade maintains an archive of past webinars for on-demand viewing. questrade scores higher overall in education and research.
| Feature | Finmax | questrade |
|---|---|---|
| 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 questrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). questrade uniquely supports PayPal and Skrill and Neteller among the two brokers. questrade scores higher on deposit and withdrawal flexibility.
| Feature | Finmax | questrade |
|---|---|---|
| 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 questrade offer live chat support. Both provide phone support. Email support is available at both brokers. Finmax supports 2 languages and questrade supports 8, giving questrade broader global reach. Both brokers are comparable on support quality.
| Feature | Finmax | questrade |
|---|---|---|
| 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 |