FX Optimax has been flagged by Commodity Futures Trading Commission for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
FX Optimax had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: No hidden fees|Portfolio tracking tools|Helpful community forum
Cons: Minimum deposit could be lower
Do not be fooled by the professional-looking website. Behind the scenes, FX Optimax is disorganized and incompetent. I found them after attending a webinar they hosted and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Segregated accounts|Automated trading options
Cons: Would like more payment methods|Cannot customize dashboard fully
After spending for the past year and a half trying to make FX Optimax work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Fast support response|Easy to use platform|Clear documentation
Cons: Alert system is basic
The hidden fees at FX Optimax are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Clear documentation|Excellent charting|Multi-device support
Cons: No integrated tax optimization|Limited social trading features
FX Optimax offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Automated trading options|Dedicated account manager|Transparent fees|Customizable dashboard
Cons: Help articles are sometimes vague
The spread at FX Optimax is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after a friend recommended them and initially thought the platform was good - until I started trading seriously.
Pros: Dedicated account manager|Comprehensive tools|Detailed reporting|Educational resources
Cons: Limited ETF selection
I signed up with FX Optimax through word of mouth in my investment club and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Fast execution|Real-time alerts|Customizable dashboard
Cons: Could offer more webinars
The platform at FX Optimax is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since last summer of dealing with this, I have had enough.
Pros: Educational resources|Transparent fees|Great customer service|Full transparency
Cons: Alert system is basic|Limited ETF selection
After doing some research AFTER the fact (I know, I should have done this first), I discovered that FX Optimax is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Initially responsive customer service
Cons: Blocked my account|No legitimate license|Fake returns
Several red flags with FX Optimax: (1) They promise unrealistically high returns, (2) They're not registered with Commodity Futures Trading Commission, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises