What are binary options?
Binary options is a derivative financial instruments, the peculiarity of which is in a fixed-income and risk. A trader must determine whether the price of the underlying asset is above or below the current (it is called “the strike price”). You can receive up to 90% per trade. More precise information on the payout can be found in each option. If the option is unprofitable (i.e., your prediction was incorrect), you can lose 100% of the investment. The amount of profit per option does not depend on the number of points that change the value of the underlying asset.
What is an underlying asset?
The underlying asset means a financial instrument (Forex currency pair, stock market’s securities, indices and products of commodities market).
What is a “Down” Option?
If you think the price of an underlying asset will go down during the life of the option, you place a trade on "DOWN".
What is an “UP” option?
If you think the price of an underlying asset will go up during the life of the option, you place a trade on "UP".
What is the investment amount?
It is the amount of your investment in an option.
How to invest money in an option?
It is very simple. You choose an option, underlying asset, expiry time, type of option (up/down or any other depending on the type of option) and the amount of the investment. After that you just click the "Purchase" button.
What is the payment amount of a profitable (“In the Money”) options?
If you bought a profitable option, you can see the amount of payout next to the asset on our trading platform.
What would happen if the option was unprofitable (“Out of Money”)?
If your prediction is incorrect, the amount of investment in the binary option will be deducted from the account.
What is the meaning by expiration time and level?
The expiry time is the time at which your option will be closed. The expiry level is the price of the underlying asset at the time of expiry.
Which assets can you trade with FINMAX broker?
We offer assets from the groups of financial instruments as: Forex currency pairs, stocks, indices and commodities. A detailed description of the assets can be found in the "Our assets" section.
Is it possible to trade cryptocurrency with FINMAX?
Yes, Finmax offers to trade with cryptoassets (BTC, LTC, ETH, Ripple). These assets already are on the platform. Choose cryptocurrency from the list in the upper part of the Finmax' platfrom. It's possible to trade on the demo and real account.
What are the levels displayed in the Trading Boxes?
The levels we present in the trading boxes are those at which FINMAX broker is willing to sell you the options. Moreover, these levels will not always coincide with current market prices.
An error message tells me I exceeded the Maximum Investment Amount. What should I do?
The maximum investment amount with FINMAX broker is $5000. If you wish to purchase an options for greater amounts than $5000, you will have to purchase an option at this maximum amount, and then purchase an additional option of the same type.
What happens if the Expiry Level of a Given Asset is identical to the Level at which the Transaction was made?
In this event, the amount of the investment is returned to the customer. You do not lose anything but gain nothing either.
Do I have to pay tax on the gained profit?
All of your profits are taxed in accordance with the laws of your residential country.
Why I cannot trade?
Usually you can't place an order for several reasons:
Who provides the financial quotes for FINMAX?
FINMAX uses the platform Trade Smarter, The quotes provider is Leverate.
What are FINMAX's deposit methods?
For deposit you can use any of the methods specified on our website. Deposits can be made via credit cards, bank transfer or electronic payment.
What should I do if I have forgotten my password?
For password recovery, you'll need to go through corresponding procedure. You have to click “Recover password” if you have forgotten your password. Follow the instructions and we will send you a new password via email for your future use.
Where can I see my transaction history?
You can see all of your transaction history in the “Reports” section. By using filters you can set the desired date and other features to make the search more precise for your needs.