Finmax
Velocity Trade
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while Velocity Trade was established in 2007 and is based in Australia. Finmax holds licences including Financial Services Authority (FSA), while Velocity Trade is regulated by Australian Securities & Investment Commission (ASIC) among others. Finmax serves 10,000+ clients worldwide; Velocity Trade has 10,000+. The minimum deposit is $0 at Finmax and $1 at Velocity Trade.
| Feature | Finmax | Velocity Trade |
|---|---|---|
| Min. Deposit | $0 | $1 |
| Regulation | Financial Services Authority (FSA) | Australian Securities & Investment Commission (ASIC), BaFIN (German Federal Financial Services Authority ID: 10159853), Financial Markets Authority (FMA) of New Zealand, Financial Sector Conduct Authority of South Africa (FSCA) FSP No. 43295, Financial Conduct Authority (FCA Registered Number 497263) |
| Founded | 2008 | 2007 |
| Country | Bulgaria | Australia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and Velocity Trade, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $1 at Velocity Trade). Neither broker charges withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. The two brokers are broadly comparable on fee structure.
| Feature | Finmax | Velocity Trade |
|---|---|---|
| Min. Deposit | $0 | $1 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Finmax offers MT4, MT5, cTrader, while Velocity Trade supports MT4. Both brokers provide mobile trading apps for iOS and Android. Finmax edges ahead on platform breadth and functionality in our scoring.
| Feature | Finmax | Velocity Trade |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | No |
| cTrader | Yes | No |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,MT5 | MT4, Mobile Apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Finmax and Velocity Trade compare. Velocity Trade runs regular live webinars; Finmax does not. Velocity Trade has a video library; Finmax does not. Velocity Trade publishes daily market commentary; Finmax does not. Velocity Trade integrates third-party research tools (Trading Central, Autochartist); Finmax does not. Velocity Trade maintains an archive of past webinars for on-demand viewing. Velocity Trade scores higher overall in education and research.
| Feature | Finmax | Velocity Trade |
|---|---|---|
| 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 Velocity Trade supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Finmax | Velocity Trade |
|---|---|---|
| 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 Velocity Trade 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 | Velocity Trade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |