Formax is an Online Forex & CFD brokerage firm based in UK, and licensed by FCA.
☆Point – UK FCA is one of the world’s most stringent regulatory authorities.
Formax is relatively a new broker founded in 2015.
As the broker’s promotion is very quiet, the name “Formax” hasn’t been known on the web.
The broker’s advantage is the ECN MT4 with Very Low Trading Cost.
☆Point – ECN stands for Electronics Communication Network. The Fairest execution model provided in Retail Forex markets.
Formax’s ECN MT4 is where there is No Interference to traders’ trades and No Manipulation of Market Prices on MT4.
And this “Fair” condition is guaranteed by the UK’s financial authority, FCA.
On Formax MT4, you can trade Forex pairs, Commodity, Metals, Oils and Equity Index.
The minimum required deposit amount is a bit higher as $1000, but you can access to Formax MT4 with following 2 advantages with this deposit.
ECN MT4 where all kinds of trading activities are allowed.
Average Spread of 0.3 – 0.4 pips with only $6 per lot of extra commission. (See the Real Time Spread)
The maximum leverage is 1:200, and NBP is NOT supported. Thus, your loss can exceed your total deposit amount.
*NBP stands for Negative Balance Protection. This protects traders from exceeded losses(minus balances).
No regular Bonus Promotions are offered, but the “Low Cost Trading” may cover that part for Formax.