Company Summary
| Promax Trading Review Summary | |
| Founded | 2018 |
| Registered Country/Region | Saint Lucia |
| Regulation | No regulation |
| Market Instruments | Forex, Commodities, Stocks, Indices |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| EUR/USD Spread | 1.3 pips (Starter account) |
| Trading Platform | MetaTrader 5 (MT5) |
| Minimum Deposit | $200 |
| Customer Support | Phone: +971-42632-571 |
| Email: support@promaxtrading.com | |
Promax Trading Information
Promax Trading, founded in 2018, offers access to forex, commodities, stocks, and indices with competitive conditions and the popular MT5 platform. It features high leverage up to 1:500 and a low minimum deposit of $200, appealing to both beginner and experienced traders. However, it lacks strong regulatory oversight, raising concerns about transparency and fund security.
Pros and Cons
| Pros | Cons |
| Wide range of tradable instruments | No regulation |
| Demo accounts | High minimum deposit |
| Supports the popular MT5 platform | |
| No deposit/withdrawal fees |
Is Promax Trading Legit?
Promax Trading is not a legitimate broker. It is registered in Saint Lucia but holds no valid regulatory license from the local authority or any official body. Major global regulators like the FCA (UK), ASIC (Australia), and NFA (USA) also do not license or oversee its operations.
The domain promaxtrading.com was registered on December 26, 2019, and will expire on December 26, 2030. It is currently in a “client transfer prohibited” status, which means the domain is locked to prevent unauthorized transfers or changes.
What Can I Trade on Promax Trading?
Promax Trading offers a range of tradable instruments including forex, commodities, stocks, and indices.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Stocks | ✔ |
| Cryptos | ✖ |
| Bonds | ✖ |
| Options | ✖ |
| ETFs | ✖ |
Account Type
Promax Trading offers four types of live accounts: Starter, Premium, Ultimate, and PAMM. It also provides a demo account for practice.
| Account Type | Minimum Deposit | Maximum Leverage | Spread | Commission | Suitable for |
| Starter | $200 | 1:500 | Variable | $0 | Beginners, small-scale traders |
| Premium | $5,000 | From 0.0 pips | $8 | Active traders needing tight spreads | |
| Ultimate | $25,000 | $5 | Professional, high-volume traders | ||
| PAMM | $500 | Variable | $0 | Investors using managed accounts | |
| Demo | / | / | / | / | Practice, strategy testing |
Leverage
Promax Trading offers leverage of up to 1:500. Note that high leverage can amplify not only profits but also losses.
Promax Trading Fees
Compared to industry standards, Promax Tradings fees are relatively competitive, especially on its Premium and Ultimate accounts with spreads starting from 0.0 pips, though commissions apply.
| Symbol | Starter Account | Premium Account | Ultimate Account |
| EUR/USD | 1.3 pips | 0.0 pips | |
| AUD/USD | |||
| GBP/USD | 1.6 pips | ||
| NZD/USD | 1.3 pips | ||
| USD/CHF | |||
| USD/CAD | 2.1 pips | ||
| USD/JPY | |||
Non-Trading Fees
| Non-Trading Fees | Amount |
| Deposit Fee | 0 |
| Withdrawal Fee | 0 |
| Inactivity Fee | Not mentioned |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| MetaTrader 5 (MT5) | ✔ | Windows, Mac OS, iOS, Android | Experienced traders |
| Web Terminal | ✔ | Any web browser (desktop, mobile) | / |
| Mobile App | ✔ | iOS, Android | / |
| MetaTrader 4 (MT4) | ✖ | / | Beginners |
Deposit and Withdrawal
Promax Trading does not charge any deposit or withdrawal fees. The minimum deposit is $200.
| Payment Method | Minimum Deposit | Fees | Deposit Time | Withdrawal Time |
| Skrill | $200 | 0 | Up to 2 hours | Up to 24 hours |
| Direct Debit / Credit Card | ||||
| Webmoney | ||||
| Neteller | ||||
| Bank Wire | 3–5 business days | 3–5 business days | ||
| UnionPay | Up to 2 hours | Up to 24 hours | ||
| Knet | ||||
| Fasapay |
0074756
India
without notice account dicebled for scam
Exposure
12584612
United Arab Emirates
This broker does not pay IB commissions and wiped out all my backend data
Exposure
Mohamed Lewaa
Vietnam
Trading on this platform is just okay, mostly because the customer service team handles issues in an unprofessional manner... But the returns are pretty solid.
Neutral
¥
Colombia
Would like to see tighter prices in some FX pairs such as TRY crosses, and certain liquid fututes, such as S&P 500 futures.
Neutral
FX1225765733
Pakistan
Promax is the regulated broker.i am working with them from past 2 years.very fast execution.no issues of withdrawal and deposit Promax ita all about you
Positive
Ahmed Kaleem
United Arab Emirates
ProMax Trading now registered and incorporated in Labuan Financial services Authority Malaysia and also have Commercial Broker Licence from United Arab Emirates .
Positive
中国狙击
Nigeria
When market crashed,they showing error while logging,and app not working properly, order not placed on time,and Pormax changes its required margins...
Neutral
华仔58944
Hong Kong
Low minimum deposit requirement, competitive trading conditions, ultra-fast execution, multiple deposit and withdrawal options to choose from...there are so many benefits of Promax. My trading experience here is very good.
Positive