menu
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. Clients can choose pricing models from ECN commission free or ECN raw spreads + commission.
Formax Prime Capital (UK) Limited believe in developing long term partnerships with clients from day one, ensuring 24/5 support by phone and live chat via the website.
Experience the professional difference that an exclusive ECN broker can make, and discover the new way to trade, visit www.formaxprime.co.uk or call us on +44(0)20 3819 3100.
About option 2: Enjoy absolute transparency when you trade with Formax. Trade quickly, securely and on the move, with the added benefit of renowned client attention for traders who demand professional tools and expertise, but who value a broker who only works in their interests.
With Formax you can trade Forex, Commodities and Indices with the choice of two platforms, MT4 or ZuluTrade.
To find out more visit www.formaxprime.co.uk or call the team on +44 (0)20 3819 3100.
8 key points:
100% of your trades go to market One-click dealing and ultra-low latency, wherever and whenever Advanced charting and key indicator analysis Tight spreads as low as 0.2 pips Flexible pricing and complete transparency Option to use automated expert advisers to trade for you 24/5 trading and valuable support Free market insights emailed to you
Advertorial
Choose an exclusive ECN broker that never trades against you
FX trading just became professional with Formax. For traders who value a trusted partner by their side, we exclusively operate through an ECN system. This gives our clients the speed and sharpest trading tools they need, as well as numerous other advantages.
ECN works only for you. 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.
Transparency that makes a difference. You can also feel reassured by complete transparency when you trade. 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.
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.
...and trade instantly. 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.
Potentially lower fees. An ECN broker will often offer its clients narrower bid/ask spreads more in-line with an institutional offering that historically has been reserved for hedge funds, banks and brokers. This gives the typical retail investor access to the same liquidity as much bigger players in the market.
There is also the potential for lower commissions and fees. At Formax we give our ECN users a choice of how they wish to pay for their trading – allowing clients to decide what is best for their own style of trading. You can choose from either an ECN Commission Free or ECN Raw + Commission account.
Anonymity if you want it. If you value your privacy, an ECN broker can give you a level of anonymity not typical in forex trading. This may appeal to FX traders who wish to make larger transactions and lets you deal on neutral prices that are unbiased and reflect authentic market conditions.
FORMAX is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
FORMAX profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
.Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker or crypto exchnage.
In order to leave a review about the company, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.
Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. FORMAX received a score of 1 of 5 on our resource.