One of the hallmarks of an ECN broker is that they are “on your side”. In other words, they can’t trade against you as they only STP trades to tier one liquidity providers. This is not always the case in the FX market – some brokers will profit from your losses. ForexBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers.
Company Background (Formax Prime)
MT4’s inherent flexibility enables traders to customize it to align perfectly with their unique preferences and requirements. Formax Prime Capital, founded in 2017 by a parent company with a background in the online brokerage industry, is a spread-betting and CFD broker headquartered and regulated in the United Kingdom. They state that they operate a ECN (electronic communications network) model, using STP (straight through processing) technology, without any dealing desk interference.
ZuluTrade offers traders the “Full Pack Complete Trading Platform” which consists of several trading features. Regarding the MetaTrader4 account, the ECN commission free account charges a minimum spread of 0.6 pips on the benchmark EUR/USD currency pair, while the ECN raw + commission account charges 0.2 pips plus a minimum commission of £3 per lot. Concerning the ZuluTrade account, the ECN raw + commission account charges a minimum commission of £12 per lot.
Formax Trading Information 2024
Instead, they emphasize their goals modestly as offering total transparency, and a great service. The transparency comes in the form of both honesty and the no dealing desk, straight through processing prices that are offered for trading. We find this a refreshing approach, and consider any broker that has gone through the very onerous process of securing approval from U.K.
- Yet, the trader should qualify a minimum 20 standard FX lots per month in order to use the service for free.
- Formax Prime Capital (UK) Limited, is regulated by the FCA and offers ECN trading across Forex, Indices and Commodities, with highly competitive spreads from 0.2 pips on MT4 and 1.5 pips on ZuluTrade platforms.
- The trading clarity and zero interference performed though STP (Straight to Process) or ECN technology, with full pricing transparency and competitive spreads from 0.2 pips.
- In fact, there’s a 67.5% chance that retail investors suffer a loss when they trade CFDs (Contract for Difference) with Formax Prime Capital.
Furthermore, payments forms for investors include the ability to carry out deposits and withdrawals through bank transfers or with a debit or credit card. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in the use of our website. After all, the combination between the factors of the security, stability of MT4 for complete trading along with the low latency trading capabilities make a meaningful difference to the proprietary technology trading. The origin conceals and ownership of the proceeds involves the use of legitimately derived funds to finance Formax are determined in not allowing the company to be used for any such activities.
This proprietary platform excels with advanced charting tools and real-time market data, catering to the exacting demands of experienced traders. It boasts a rich suite of order types, such as limit orders, stop-loss orders, and trailing stop orders. Moreover, Formax Prime EDGE empowers traders to craft and adapt their own indicators and trading strategies, facilitating precision trading execution.
Formax Prime is regulated by the FCA (Financial Conduct Authority), which imposes stringent regulations to safeguard clients’ funds. This regulatory oversight ensures transparency and security in all financial transactions. Nevertheless, the online education is enabled to all clients along with the Demo account opening possibility, which is the risk-free trading environment.
For more information about currency trading brokers visit TopForexBrokers.com Forex brokers comparison website, Tip ForexSQ.com foreign exchange trading experts please by share this article about Formax Prime Review. We are a FCA Regulated broker (Reference Number ) and the subsidiary of Formax Group Limited, an international financial company with a strong focus on innovation and development of financial technology. At present Formax has several subsidiaries based in the UK, New Zealand, westernfx review Hong Kong, China, India, Thailand and Australia.
Broker Types
Most importantly of all, the spreads and commissions offered seem to be truly competitive. Customer support is based in London, offering 24-hour support while markets are open from Monday morning in Australia to Friday evening in New York. You can benefit from the best executable prices in the marketplace, and get instant confirmations. Zero interference by price makers means trades are final and confirmed as soon as they are filled. There are never any artificial adjustments or interference from a dealing desk. With Formax you can trade Forex, Commodities and Indices with the choice of two platforms, MT4 or ZuluTrade.
However, the payments we receive can influence the products, companies, or services we highlight and evaluate. Formax Prime Review explained by professional Forex trading experts the “ForexSQ” FX trading team. Formax Prime Capital do not impose any minimums requirements on deposits or withdrawals, but the channels themselves may do so. There are no bonuses and promotions on offer at the time of writing, as they are banned by Forex Prime Capital’s regulator, the FCA.
In 2018, it clinched the prestigious “Best Forex Broker” award at the China Forex Expo, a testament to its exceptional services. Furthermore, the company has been nominated for several other prestigious awards, including the esteemed “Best Forex Trading Platform” award. These accolades underscore Formax Prime’s unwavering dedication to delivering top-tier services and products to its valued clients. The company places a strong emphasis on regulatory compliance and client fund security, as evidenced by its Bitfinex Review regulation by the Financial Conduct Authority (FCA) and its operating license in the UK.
© ForexSQ.com All Rights Reserved – Online Forex Trading, Stock Trading are high risk and losses can exceed your investment. Trade during true market hours… You can trade during true market hours knowing that the prices you are trading on are not synthetic b-book prices made up outside of official market hours. Because of how information is transmitted – through what is known as straight-through-processing (STP) – you get total peace of mind there is zero interference from the broker. While ForexBrokers.org has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Recognizing the growing prominence of cryptocurrencies, Formax Prime also facilitates cryptocurrency trading.
Formax Prime is committed to empowering traders with the tools and knowledge needed for success in the dynamic world of trading. Our educational resources and support structures are designed to elevate traders’ confidence and competence in making informed trading decisions. In addition to forex, Formax Prime caters to those interested in commodities, including precious metals, energies, and soft commodities. This range of options enables traders to participate in markets beyond currencies, diversifying their portfolios and spreading risk. These varied account options enable traders to select the one that best aligns with their proficiency level and trading volumes.
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