Finmax
Virtual Brokers
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while Virtual Brokers was established in 2008 and is based in Canada. Finmax holds licences including Financial Services Authority (FSA), while Virtual Brokers is regulated by The Investment Industry Regulatory Organization of Canada (IIROC) among others. Finmax serves 10,000+ clients worldwide; Virtual Brokers has 10,000+. The minimum deposit is $0 at Finmax and $1000 at Virtual Brokers.
| Feature | Finmax | Virtual Brokers |
|---|---|---|
| Min. Deposit | $0 | $1000 |
| Regulation | Financial Services Authority (FSA) | The Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF) |
| Founded | 2008 | 2008 |
| Country | Bulgaria | Canada |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and Virtual Brokers, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $1000 at Virtual Brokers). Virtual Brokers charges withdrawal fees while Finmax does not, giving Finmax an edge for frequent withdrawers. Finmax applies inactivity fees on dormant accounts; Virtual Brokers does not. Virtual Brokers charges deposit fees; Finmax does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | Virtual Brokers |
|---|---|---|
| Min. Deposit | $0 | $1000 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Finmax offers MT4, MT5, cTrader, while Virtual Brokers supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Virtual Brokers supports social and copy trading features, which Finmax does not offer. The two brokers are closely matched on platform offering.
| Feature | Finmax | Virtual Brokers |
|---|---|---|
| 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,Desktop,iPhone/iOS |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Finmax and Virtual Brokers compare. Virtual Brokers runs regular live webinars; Finmax does not. Virtual Brokers has a video library; Finmax does not. Virtual Brokers publishes daily market commentary; Finmax does not. Virtual Brokers integrates third-party research tools (Trading Central, Autochartist); Finmax does not. Virtual Brokers maintains an archive of past webinars for on-demand viewing. Virtual Brokers scores higher overall in education and research.
| Feature | Finmax | Virtual Brokers |
|---|---|---|
| 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 Virtual Brokers supports 2 (bank transfer, credit/debit card). Both brokers support the same set of payment methods.
| Feature | Finmax | Virtual Brokers |
|---|---|---|
| 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 Virtual Brokers 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 | Virtual Brokers |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, and Chinese |