Finmax
umarkets
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while umarkets was established in 2018 and is based in Bulgaria. Finmax holds licences including Financial Services Authority (FSA), while umarkets is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; umarkets has 10,000+. The minimum deposit is $0 at Finmax and $250 at umarkets.
| Feature | Finmax | umarkets |
|---|---|---|
| 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-F333 |
| Founded | 2008 | 2018 |
| Country | Bulgaria | Bulgaria |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and umarkets, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $250 at umarkets). umarkets charges withdrawal fees while Finmax does not, giving Finmax an edge for frequent withdrawers. 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 | umarkets |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Finmax offers MT4, MT5, cTrader, while umarkets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. umarkets supports social and copy trading features, which Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Finmax | umarkets |
|---|---|---|
| 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 umarkets compare. umarkets has a video library; Finmax does not. umarkets integrates third-party research tools (Autochartist); Finmax does not. umarkets scores higher overall in education and research.
| Feature | Finmax | umarkets |
|---|---|---|
| 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 umarkets supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). umarkets uniquely supports PayPal and Skrill and Neteller among the two brokers. umarkets scores higher on deposit and withdrawal flexibility.
| Feature | Finmax | umarkets |
|---|---|---|
| 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 umarkets offer live chat support. Both provide phone support. Email support is available at both brokers. Finmax supports 2 languages and umarkets supports 8, giving umarkets broader global reach. Both brokers are comparable on support quality.
| Feature | Finmax | umarkets |
|---|---|---|
| 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 |