TradeMax Review 2020
TradeMax is an ECN broker that offers forex trading and CFDs on metals, indices, and energies through the MetaTrader 4 and PulseTrader trading platforms. The broker provides enhanced executions speeds with deep liquidity although the minimum deposit of $1,000 is higher than many other brokers we have reviewed and the account funding options are limited.
TradeMax Review 2020, Pros & Cons
- Strict regulation
- Sophisticated MetaTrader 4 & PulseTrader trading platforms
- Free VPS
- MAMM service
- No US Clients
- $1,000 minimum deposit
- Limited funding options
- Best trading conditions require larger accounts
In this detailed TradeMax review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
TradeMax is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including TradeMax.
TradeMax Review: Summary
TradeMax is an online broker offering forex and CFD to individual retail traders and professional institutions. They provide clients with the sophisticated MetaTrader 4 and PulseTrader trading platforms for trading multiple tradable assets, such as forex currency pairs, commodities, indices, and CFDs.
The broker implements the ECN execution model and offers a leverage of up to 1:400. They have a highly professional and independent technical team and offer a selection of different account types to meet trader’s individual needs, but the minimum deposit is $1,000
TradeMax Review: Regulation
TradeMax Global Limited is a financial services company and regulated by Vanuatu Financial Services Commission (VFSC), with the license number 40356.
Also, TradeMax Australia Pty Ltd is authorized by Australia Security and Investment Commission (ASIC) with an Australia Financial Services License 436416. TradeMax Australia holds clients’ money in a ‘pooled’ client trust account and is strictly separated from the company funds.
TradeMax Review: Countries
TradeMax allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with international brokers. However, they specifically state on their website that they do not offer their online trading services to residents of the United States.
Some TradeMax broker features and products mentioned within this TradeMax review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
TradeMax Review: Trading Platforms
The broker provides its clients with the intuitive and user-friendly MetaTrader 4 and PulseTrader trading platforms.
MetaTrader 4 (MT4)
MT4 is one of the most popular trading platforms in the market. The MT4 patform is replete with tools to help analyze the financial markets. It provides traders with live price feeds, technical charts, analytical tools, and up-to-date financial news to ensure that the traders are aware of what is happening in the market at all times. TradeMax provides the MT4 trading Platform in the following versions:
MT4 Desktop Platform
This is a desktop application for Windows computers. It offers a clear and user-friendly interface with many customizable charts and dozens of technical indicators. The MT4 Windows gives you access to your trade positions and other account information.
MT4 Web Platform
The MetaTrader 4 web platform allows you to trade directly through most modern web browsers without the need to download or install any additional software. The web platform can be accessed by simply logging into the broker’s client portal. Some features of the MT4 Web platform includes:
- All types of trading orders and MT4 execution modes
- One-Click trading
- 30 indicators and 24 graphical objects for technical analysis
- Real-time quotes in the market watch
MT4 Mobile Platform
The TradeMax MT4 platform has a mobile app, which is compatible with iPhone/iPad and Android devices; it enables clients to trade from anywhere and at any time. The mobile app is customized and has the following features:
- Full control over any trading accounts
- Accessible from anywhere, provided there is an internet connection.
- Full execution types and modes
- Full charting timeframes and more than 50 indicators and analytical tools.
TradeMax offers the PulseTrader with its advanced inbuilt tools for customizable workflow. This feature-packed trading platform is suitable for both active and professional traders . PulseTrader is one of the most advanced Equities trading platforms. It has market analysis tools with customizable features, as well as fast order execution. It is most suitable for exchange-traded products, such as Equities, Warrants, ETFs, and Options.
The platform has a user-friendly, with many customizable charts, settings, and dozens of technical indicators. With over 20 years of history, PulseTrader provides in-depth chartings that supports more than 65 indicators, along with a sophisticated Order Management tool.
Your trade positions and other account information are easily accessible via PulseTrader’s trading window. It includes broker reporting for easy view of stockbroker’s activity trends, as well as linked cash account for seamless settlement.
Here are some of the key PulseTrader features:
- Integrated Price Alerts
- Right-click order placement
- Advanced order types such as stop/ trailing stop loss
- Multi-account record keeping
- +Live Newsfeed and Announcements
- Excel real-time feeds (DDE)
- Real-time streaming data
TradeMax Review: Trading Tools
Free VPS & MAMM Service
VPS (Virtual Private Server) hosting allows traders to run their trading platforms and expert advisors 24/5. Professional traders who meet the brokers minimum requirements can make use of the service. Should you become a money manager, you can also enjoy the MAMM service.
Dedicated Account Manager
The dedicated account managers are equipped to provide clients with any assistance they may require, and clients can communicate in their preferred method: face to face, over the phone, emails, or any other messaging service.
The VIP Desk helps traders in tailoring their trading accounts to meet their demands; whether it be specific pairs going through the different liquidity providers of your choice, having direct API to the aggregator, or integrating your own software through the IT support, the VIP desk provides you with a solution.
TradeMax Review: Education
The broker provides clients with a vast array of educational resources on its website, and they include:
iTrade In-house Classes
TradeMax offers in-house classes that are suitable for all levels of traders, such as beginner, intermediate, and advanced traders. The in-house classes cover a vast range of essential trading knowledge, from the basics to trading sentiments, helping you to become the trader you want to be.
1v1 VIP Classes
This VIP class is completely customized to match your learning style, in addition to helping you master the knowledge for trading. It also walks you through all the necessary steps to trading and guides you through all trade analysis. It offers online and offline support, analysis assistance, trading assistance, early promo access, fund management services, and more.
Online Tutorials & Trading Articles
There are online tutorials and trading articles on the broker’s website that covers a range of topics, such as forex trading, fundamental analysis, technical analysis, trading products, and more.
TradeMax Review: Trading Instruments
TradeMax offers multiple trading instruments across different asset classes, including forex, commodities, indices, and more. There are several major, minor, and exotic currency pairs up for trading. TradeMax Australia offers a wide array of commodity CFDs that can be traded through the MT4 platform, allowing you access to these markets at your convenience no matter where you are in the world. Commodities offered include Gold, Silver, Platinum, WTI, and Brent. The broker also offers many types of Indices, such as the Dow Jones Industrial Average (DJIA), S&P 500, and FTSE 100 Index.
TradeMax Review: Trading Accounts & Fees
Trademax offers a variety of account types to suit each trader’s needs and trading styles. The account types include Standard, Premium, Pro, and Raw Spread Accounts.
This account type has an initial required deposit of $1,000, while the leverage is capped at 1:400. Clients get access to a dedicated account manager. No commission is charged on trades.
It has a required minimum deposit of $50,000, leverage of up to 1:400, and a dedicated account manager. No commission is charged on trades.
The required minimum deposit is $100,000, while the leverage is up to 1:200. Clients get access to a dedicated account manager, VIP desk, Free VPS, and MAMM service. No commission is charged on trades.
Raw Spread Account
This account type charges a commission of $7 per lot on trades. The minimum balance required to operate this account is $100,000, while a leverage of up to 1:200 is available. Traders are provided with a dedicated account manager, VIP desk, Free VPS, and MAMM Service.
As broker fees can vary and change, there may be additional fees that are not listed in this TradeMax review. It is imperative to ensure that you check and understand all of the latest information before you open a TradeMax broker account for online trading.
TradeMax Review: Customer Service
The broker offers a knowledgeable customer support team who are on hand to give prompt response to clients’ inquiries. They can be reached via telephone, email and online chat. There is also a frequently asked questions (FAQ) section on the broker’s website, which gives detailed answers to some traders’ common questions.
TradeMax Review: Deposit & Withdrawal
TradeMax accepts the following payment methods for account funding and withdrawal: Bank transfer, Credit/Debit cards, RMB Direct pay, and POLi.
Withdrawals submitted before 4 pm Sydney time are normally processed on the same day (1 business day or less). Withdrawals submitted after 4 pm are processed the next business day. However, due to unforeseen circumstances, withdrawals may take longer.
TradeMax strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your TradeMax trading account.
TradeMax Review: Account Opening
To open a TradeMax Global Account, you first open the Trademax Global webpage, then, click on ‘Open Live Account’ on the top right corner and fill in the necessary details for registration and submit. Shortly after you have opened an account, there will be three emails sent to your registered e-mail from the platform. They include:
- Your web client login method
- Your MT4 account information and registration information
- Trademax Global Risk Warning Notice — a file that represents your relationship with the Trademax Global etc
At this point, you can log in to the client account portal from the broker’s webpage to check your details and verify your account by uploading your ID and other necessary documents. Trademax does not charge any fees for opening an account.It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
TradeMax Review: Conclusion
TradeMax is a regulated ECN broker that offers forex and CFD to individual retail traders and professional institutions. They provide clients with the sophisticated MT4 and Pulsetrader platforms, along with a range of useful trading tools. They offer enhanced executions and deep liquidity. However, the minimum required deposit is $1,000 which is larger than the majority of online trading brokers that we have reviewed whilst the account funding options are limited.