Formax (Formax Prime Capital (UK) Ltd.)

UK based & FCA regulated Formax, offers a Professional Trading Environment.

Formax

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.

Trading Info

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.

Reviews of Formax

Broker Details
CompanyFormax
Formax Prime Capital (UK) Ltd.
Regulation
Founded in2014 (3 years)
Max Leverage200:1
USA clients Not Accepted
JPN clients Not Accepted
Country BaseUnited Kingdom
Headquaters 107 Cheapside, London, EC2V 6DN, United Kingdom
Website Language
  • English
Support desk
Phone number+44 (0)203 819 3100
Supported LanguageEnglish
Service Hour24/5
Phone Support Available
Live Chat Available
Callback Available
Japanese Support Not Available
Telephone Order Not Available

Trading Accounts (2 accounts)

Here are the details of all Forex trading accounts of Formax.

TitleECN Raw + CommissionECN Commission Free
Account TypeForexForex
Trading PlatformMT4MT4
Minimum Deposit$5,000$1,000
Accout CurrencyEURGBPUSDEURGBPUSD
Execution TypeECN
(Instant)
ECN
(Instant)
Leverage200:1200:1
Spread TypeFloatingFloating
Minimum Spreadfrom 0.2 pipsfrom 0.6 pips
Trading Commission£3 per 1 lotN/A
Minimum Trading Lots0.010.01
Maximum Trading Lots100100 lots
Decimal Pricing55
Margin Call %120%120%
Stop Out %100%100%
EA (Automated Trading)AllowedAllowed
ScalpingAllowedAllowed
HedgingAllowedAllowed
News TimeAllowedAllowed
PAMM/MAMN/AN/A
Islamic (Swap Free)OptionalOptional
Interest on MarginNoneNone

Free 123 USD

25 USD for Free

300 USD for Free

100 USD for Free

30 USD for Free

35 USD for Free

Hercules

You can now receive 123 dollars for free and start trading Forex and CFDs.

You can now receive 123 dollars for free and start trading Forex and CFDs.

You can now receive 123 dollars for free and start trading Forex and CFDs.

You can now receive 123 dollars for free and start trading Forex and CFDs.