General Information

Elmax Trade, Headquartered In Colombia, Was Founded In 2019 And Operates As An Unregulated Brokerage Firm. The Company Offers Multiple Account Types Including Cent, Mini, ECN MAX, ECN PRO, VIP And MAM & PAMM Accounts, Each With Different Characteristics And Minimum Deposit Requirements. Traders Have Access To A Variety Of Trading Products Such As Forex Currency Pairs, Cryptocurrencies/CFDs And Indices. Elmax Trade Offers The Popular MetaTrader 4 (MT4) Trading Platform And Offers Leverage Up To 1:700 With Spreads Varying Depending On The Account Type Chosen. While They Provide Customer Support Via Phone, Email And Contact Form, The Availability Of Payment Methods And Demo Accounts Is Not Specified On The Website. Interested Traders Should Exercise Caution And Conduct Thorough Research Before Considering Choosing Elmax Trade As Their Broker.

Regulation

Elmax Trade Operates Without Any Form Of Regulation, Which Raises Concerns About Transparency And Accountability Of Its Activities. In The Financial Industry, Regulatory Oversight Plays A Vital Role In Safeguarding The Interests Of Investors And Ensuring Fair And Ethical Business Conduct. Lack Of Regulation May Expose Clients To Latent Risk As There Are No Established Standards Or Bodies To Oversee And Regulate Elmax Trade's Operations. Investors Should Exercise Caution And Carefully Assess The Risks Associated With Unregulated Entities Such As Elmax Trade As They May Lack The Necessary Safeguards Needed To Protect Their Investments And Financial Interests. It Is Recommended To Consider Regulated Alternatives That Adhere To Industry Standards And Comply With Established Regulations To Minimize Latent Risk And Uncertainty.

Advantages And Disadvantages

Advantages

• Wide Range Of Trading Products
• Multiple Account Types
• High Leverage Options
• Accessible Minimum Deposit
• MetaTrader 4 (MT4) Platform

Disadvantages

• Lack Of Regulatory Oversight
• Limited Information On Deposit/withdrawal Methods
• Possible Higher Spreads In Cryptocurrencies
• Transparency Regarding Bonuses And Fees Limited
• Lack Of Detailed Customer Support Information

Elmax Trade Offers Traders A Variety Of Pros And Cons To Consider. On The Positive Side, They Offer A Wide Range Of Trading Products That Cater To Forex And Cryptocurrency Enthusiasts. Multiple Account Types Are Available To Suit Traders With Different Levels Of Experience. The High Leverage Option Offers Potential Profit Increases And The Minimum Deposit Requirements Are Easily Met. In Addition, The Broker Offers The Popular MetaTrader 4 (MT4) Trading Platform. However, There Are Also Some Concerns, Including The Lack Of Regulatory Oversight, Limited Information On Deposit And Withdrawal Methods, The Possible Existence Of Higher Spreads In Cryptocurrencies, And The Lack Of Detailed Transparency Regarding Bonuses And [:] 7. Traders Need To Carefully Weigh These Factors When Deciding Whether To Align With Elmax Trade's Trading Objectives And Risk Tolerance.

Trading Products

Elmax Trade Offers A Wide Range Of Trading Products In Two Main Categories: Currency Pairs And Cryptocurrencies/other Assets.

Within The Currency Pair Category, Elmax Trade Offers Traders A Diverse Selection Of Primary And Secondary Forex Pairs, Each With Its Own Contract Specifications. These Currency Pairs Include A Number Of Well-known Options Such As Euro To US Dollar (EURUSD), Australian Dollar To US Dollar (AUDUSD), British Pound To US Dollar (GBPUSD), Etc. Traders Can Choose Different Currency Pairs Based On Their Trading Preferences And Strategies. The Contract Size, Minimum Moving Price Level, And Minimum Moving Value Of Each Currency Pair Also Vary.

Within Cryptocurrencies And Other Asset Classes, Elmax Trade Offers The Opportunity To Trade A Wide Range Of Cryptocurrency Contracts For Difference (CFDs) And Indices. These Products Include Trading Options With The US Dollar (BTCUSD), Xetra DAX Index (DAX30), BFX With Bitcoin (BFXBTC), And More. Traders Can Speculate On The Price Movements Of Cryptocurrencies And Indices To Benefit From Potentially Higher Volatility And Leveraged Trading.

It Is Worth Noting That Elmax Trade Provides A Disclaimer Stating That Certain Currency Pairs Cannot Be Traded Until A Specific Date, Indicating That The Availability Of Trading Products May Change Over Time. Additionally, They Alert Traders That High Spreads May Exist For Cryptocurrency Pairs And Offer Leverage Of Up To 1:3, Which Brings A Higher Level Of Risk.

Overall, Elmax Trade Offers A Comprehensive Range Of Trading Products That Cater To Forex And Cryptocurrency Enthusiasts, Allowing Traders To Diversify Their Portfolio And Choose Products That Match Their Risk Tolerance And Trading Strategy. However, Potential Traders Should Carefully Consider The Associated Risks And Conduct Thorough Research Before Engaging In Any Trading Activity With Elmax Trade.

Account Types

Elmax Trade Offers Multiple Account Types To Meet The Needs Of Traders With Different Experience Levels And Trading Preferences. The Cent Account Is Designed For Beginners Who Are Just Transitioning From Demo Trading. With A Minimum Deposit Amount Of $100 And A Minimum Withdrawal Amount Of $50, A Low Threshold Is Provided. Traders Can Leverage Up To A Maximum Of 700:1 Depending On Their Investment Profile And Enjoy A Competitive Advantage Of 0.0 Pips And Spread Plus Points. The Minimum Trading Lot Size Is 0.01, Allowing For Hedging Trades. Micro-trading Charges A Commission Of $0.18 Per Lot, And While There Are No Signals Or Expert Advisors (EAs), Real-time Support And Training Are Provided. The Platform Used Is MT4, And Bonuses Are Available Upon Request.

The Mini Account Is An Ideal Option For Traders Who Wish To Test Elmax Trade's Services In Smaller Amounts. It Requires A Minimum Deposit Of $300 And Allows A Minimum Withdrawal Of $50. The Base Currency Is USD And Leverage Can Be As High As 500:1, Depending On The Amount Invested. The Spread Is 0.0 Pips, With A Spread Plus Point, And The Minimum Trading Lot Size Is 0.05. Hedging Is Allowed With A Commission Of $0.15 Per Micro-lot. This Account Type Provides Signals And Allows The Use Of Expert Advisors (EAs). Traders Have Access To Real-time Support And Training, And The Platform Used Is MT4. Bonuses Are Available Upon Request.

The ECN MAX Account Is A Suitable Option For More Experienced Traders And Introductory Brokers (IBs) Interested In ECN Trading With Low Investment. It Requires A Minimum Deposit Of $1000 And Allows A Minimum Withdrawal Of $100. The Base Currency Is The US Dollar With A Leverage Ratio Of Up To 500:1. Spreads Are 0.0 Pips With A Bit Spread Markup And A Minimum Number Of Trades Is 0.05. Hedging Is Allowed With A Commission Of $0.12 Per Micro-lot. Traders Can Receive Signals, Use An Expert Advisor (EA), And Receive Real-time Support And Training. The Trading Platform Used Is MT4, And Bonuses Are Available Upon Request.

The ECN PRO Account Is A Suitable Option For Traders And Institutions Looking For Low Spreads And Larger Volumes. It Requires A Minimum Deposit Of $2,000, And Allows A Minimum Withdrawal Of $100. The Base Currency Is The US Dollar, With Leverage Up To 500:1. The Spread Is Unusually Low, At 0.0 Pips, With A Bit-difference Markup, And A Minimum Volume Of 0.10. Hedging Is Allowed, With A Commission Of $0.80 Per Standard Lot. Traders Can Use An Expert Advisor (EA), Receive Signals, And Receive Real-time Support And Training. The Platform Used Is MT4, And Bonuses Are Available Upon Request.

Elmax Trade Also Offers VIP Accounts Tailored For Fund Managers, Analysts, And Companies With A Broad Knowledge And High Risk Tolerance. This Account Type Requires A Minimum Deposit Of $8,000 And Allows Withdrawals Of $200 Or More. The Base Currency Is USD And Leverage Is Available Up To 200:1. Spreads Are Minimum 0 Pips With A Minimum Trade Lot Size Of 1.00. Hedging Is Allowed With A Commission Of $5.0 Per Standard Lot. Traders Have Access To Signals, Expert Advisors (EAs), Real-time Support, And Training. The Platform Used Is MT4 And Bonuses Are Available Upon Request.

Finally, Elmax Trade Offers MAM And PAMM Accounts Designed For Fund Managers, Analysts, And Companies Interested In Managing Multiple Clients. The Minimum Deposit Amount Per Client Is $1500 And Withdrawals Can Be Made. The Base Currency Is USD And The Leverage Ratio Is Up To 300:1. Spreads Can Be As Low As 1.2 Pips And The Minimum Trading Lot Size Is 0.10. Hedging Is Allowed With No Commission. Traders Can Receive Signals And Receive Real-time Support And Training. The Platform Used Is MT4 And Bonuses Are Available Upon Request.

Elmax Trade Offers Trading Leverage Up To 1:700. This Means That For Every $1 In Your Trading Account, You Can Control A Position Worth Up To $700 On Financial Marekt. Leverage Is A Powerful Tool That Can Amplify A Trader's Potential Profits, But Also Increases The Risk Of Significant Losses. Traders Need To Use Leverage Responsibly And Understand The Risks Involved. Higher Leverage Can Amplify Both Profits And Losses, So It Is Crucial To Establish A Stable Risk Management Strategy When Trading With Such High Leverage.

Spreads And Commissions

Elmax Trade Offers Different Spreads And Commissions Depending On The Specific Account Type. Here Is A Summary Of The Spreads And Commissions For Each Account Type:

• Sub-Account:

Spread: 0.0 Pips (mark-up In Pips)

Commission: $0.18 Per Micro-trade

• Mini-Account:

Spread: 0.0 Pips (mark-up In Pips)

Commission: $0.15 Per Micro-trade

• ECN MAX Account:

Spread: 0.0 Pips (mark-up In Pips)

Commission: $0.12 Per Micro-trade Lot

• ECN PRO Account:

Spread: 0.0 Pips (markup In Pips)

Commission: $0.80 Per Standard Lot

• VIP Account:

Spread: As Low As 0 Pips

Commission: $5.0 Per Standard Lot

• MAM & PAMM Account:

Spread: Up To 1.2 Pips

Commission: No Commissions Mentioned

It Is Worth Noting That Spreads Are Marked At 0.0 Pips For Most Account Types, But There Will Be A Spread Markup, Which Means That Brokers May Apply Variable Spreads Depending On Market Conditions. Commissions Are Determined By The Volume Of Each Lot, With Different Commission Rates For Micro And Standard Lots.

Traders Should Consider These Spreads And Commissions When Choosing An Account Type, As They May Affect The Total Cost Of Trading. Also, Be Aware Of Any Additional Fees That May Apply Regarding Deposits, Withdrawals Or Other Trading Activities, As These May Vary From Broker To Broker.

Trading Platform

Elmax Trade Offers Its Clients The Widely Recognized And Popular MetaTrader 4 (MT4) Trading Platform. MT4 Is Known For Its User-friendly Interface, Powerful Analytical Tools And Customizable Features, Suitable For Both Novice And Experienced Traders. With MT4 Provided By Elmax Trade, Traders Can Access A Comprehensive Range Of Trading Tools, Execute Orders Quickly, Analyze Market Data With Advanced Charting Tools, And Implement Automated Trading Strategies Using Expert Advisors (EAs). In Addition, MT4's Compatibility With A Wide Range Of Devices And Operating Systems Ensures Flexibility And Convenience, Allowing Traders To Monitor And Manage Their Portfolios From Anywhere With An Internet Connection. Overall, The MT4 Platform Provided By Elmax Trade Enhances The Trading Experience, Making It A Valuable Choice For Traders Seeking A Reliable And Efficient Trading Environment.

Customer Support

Elmax Trade Appears To Have A Presence In Bogota, Colombia And Chicago, Illinois, Indicating That Its Customer Support Services Have A Global Reach. Multiple Contact Details Are Available, Including

Phone: + 573142480780

Email: Info@elmaxtrade.com, Support@elmaxtrade.com