Finmax
SpreadCo
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while SpreadCo was established in 2005 and is based in London. Finmax holds licences including Financial Services Authority (FSA), while SpreadCo is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; SpreadCo has 10,000+. The minimum deposit is $0 at Finmax and $100 at SpreadCo.
| Feature | Finmax | SpreadCo |
|---|---|---|
| Min. Deposit | $0 | $100 |
| Regulation | Financial Services Authority (FSA) | Financial Conduct Authority (FCA) |
| Founded | 2008 | 2005 |
| Country | Bulgaria | London |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and SpreadCo, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $100 at SpreadCo). SpreadCo charges withdrawal fees while Finmax does not, giving Finmax an edge for frequent withdrawers. Finmax applies inactivity fees on dormant accounts; SpreadCo does not. SpreadCo charges deposit fees; Finmax does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | SpreadCo |
|---|---|---|
| Min. Deposit | $0 | $100 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | Yes |
Platforms
Finmax offers MT4, MT5, cTrader, while SpreadCo supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. SpreadCo supports social and copy trading features, which Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Finmax | SpreadCo |
|---|---|---|
| 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 | Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Finmax and SpreadCo compare. SpreadCo has a video library; Finmax does not. SpreadCo integrates third-party research tools (Autochartist); Finmax does not. SpreadCo scores higher overall in education and research.
| Feature | Finmax | SpreadCo |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| 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 SpreadCo supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Finmax | SpreadCo |
|---|---|---|
| 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 SpreadCo 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 | SpreadCo |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |