Basic Information
Registered Region 
Saint Lucia
Saint LuciaOperating Period
5-10 years
Company Name
Promax Trading Limited
Customer Service Email Address
support@promaxtrading.com
Contact Number
+97142632571
Company Website
Global Broker Regulation Inquiry App
WikiFX
No Regulation
Score
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9
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0
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9
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9
/10
Promax Trading
Saint Lucia
|
5-10 years
|
Suspicious Regulatory License
|
MT5 Full License
|
Regional Brokers
|
High potential risk
https://promaxtrading.com/
Website
Rating Index
MT4/5 Identification
MT4/5
Full License
PromaxTrading-MT5
Netherlands
2
Influence
D
Influence index NO.1
India 2.55MT4/5 Identification
MT4/5 Identification
Full License
2
Server Name
PromaxTrading-MT5 MT5
Server Location Netherlands
NetherlandsInfluence
Influence
D
Influence index NO.1
India 2.55Surpassed 21.00% brokers
Biz Area
Search Statistics
Advertising
Social Media Index
Contact
+971 42632-571
support@promaxtrading.com
https://promaxtrading.com/
Flat #2, Floot #2, Bulding Abdullah Obaid Mohd, Abdulla AL Dhaghaya GOLD SOUQ, DUBAI, UAE
LicensesNo valid regulatory information, please be aware of the risk!
Warning: Low score, please stay away!
- It has been verified that this broker currently has no valid forex regulation. Please be aware of the risk!
8
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Company Summary
News
Wiki Q&A
Comment
MT4/5
Full License MT5
0
MT4 Servers
1
MT5 Servers
177.50
Average execution speed/ms
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
Meta Trader 5
Perfect
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Official website
Website
promaxtrading.com
70.35.203.43Server LocationICP registration--Most visited countries/areas--Domain Effective Date--Website--Company--
Genealogy
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PROMAX TRADING LIMITED(Hong Kong)
Deregistered
Hong Kong
Registration No. 0446015
Established
Related sources Website Announcement
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 |
Keywords
- 5-10 years
- Suspicious Regulatory License
- MT5 Full License
- Regional Brokers
- High potential risk
News
Exposure Promax Trading Exposed with Account Disabling and Scam Allegations
Promax, a forex trading broker has been facing serious allegations about data manipulation and account suspensions from a diverse set of traders. Such tactics put the broker under vigilance and raises questions on its reliability and credibility.
Exposure Is Promax Trading an Ideal Choice?
Promax is an online forex broker registered in Saint Vincent and the Grenadines with an operating time of 2-5 years.
Wiki Q&A
Five8 
1-2 years
Is it safe for me to trade with Promax Trading?
I personally wouldn’t feel fully comfortable trading with Promax Trading due to its lack of regulation. Even though it offers competitive trading conditions, the absence of oversight from any financial authority leaves me uncertain about the safety of my funds and the broker's operational integrity.
Broker Issues
Regulation
07-15
United States
Franko Knavs
1-2 years
Can I get an Islamic account with Promax Trading?
Yes, Promax Trading offers Islamic accounts, which is fantastic for traders like me who need to adhere to Islamic finance principles. This is a thoughtful feature that makes the platform more inclusive.
Broker Issues
Account
Platform
Leverage
Instruments
07-11
United States
TradeTimeAllWasted
1-2 years
What platforms can I use to trade with Promax Trading?
Promax Trading offers the MetaTrader 5 (MT5) platform, which I really like. It’s available on desktop, mobile, and web terminals, allowing me to trade on any device I prefer. However, I would’ve liked to see MetaTrader 4 (MT4) as an option, as some traders, including myself, prefer it.
Broker Issues
Instruments
Leverage
Platform
Account
06-13
United States
ritzyshona
1-2 years
Does Promax Trading charge commissions on trades?
Yes, Promax Trading does charge commissions on certain accounts, such as the Premium account. For instance, it charges $8 per lot. However, for the Starter and PAMM accounts, no commissions are applied. I think the commission for the Premium account is justified by the ultra-tight spreads.
Broker Issues
Fees and Spreads
05-21
United States
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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