Farmax Prime Limited is a company focused on online cryptocurrency trading, offering investors diversified trading products including forex, metals, indices, and cryptocurrencies. However, essential information about the company, such as its registered address and registration date, has not been made public yet. This lack of transparency could raise concerns among potential investors. It's noteworthy that its official webpage (http://farmaxprime.com/en) has the same design as the webpage of EFINANCE GLOBAL LTD (https://efinanceglobal.com/), which could possibly indicate that these businesses are from the same source.
Corporate Entity Information of Farmax Prime Limited:
The official website of Farmax Prime Limited does not provide detailed information about the corporate registration, including key information such as the registration time and address. The lack of such basic information may affect investors' comprehensive understanding of the company and the establishment of trust. It is notable that the domain name of the company was registered on August 2, 2023, and as of now (February 23, 2024), the domain name registration is less than a year old. Investors should exercise caution when considering this platform for forex trading due to these uncertainties regarding corporate entity information.
Regulatory Information of Farmax Prime Limited:
Regarding the regulatory information of Farmax Prime Limited, there is currently no clear public material available. The official website does not provide information about regulatory bodies, which makes it difficult for investors to understand the regulatory status of the company. For financial brokerage firms, regulatory information is usually considered a key indicator of safety and trustworthiness, and the absence of such information from Farmax Prime Limited could impact investors' decisions.
Account Opening Process at Farmax Prime Limited:
The account opening process at Farmax Prime Limited is relatively simple and intuitive. On the official website, investors can choose to register either a real account or a demo account. The registration process is straightforward; simply click the corresponding button and fill out the necessary information as prompted by the website. After completing the form, users can successfully register their account. This streamlined process provides investors with a faster access route. However, despite the simplicity of the account opening process, investors should still exercise caution when using real accounts. Moreover, the process for demo accounts provides users with an opportunity to simulate trading and familiarize themselves with the platform functions before engaging in real transactions.
Trading Software Offered by Farmax Prime Limited:
Farmax Prime Limited provides ST5 as its trading software. Although Farmax Prime Limited claims to offer advanced trading tools, the official website does not provide a detailed introduction of the platform. Due to the lack of specific information, investors might find it challenging to fully understand the features, interface design, and execution speed of the ST5 platform. Understanding the details of the trading platform is crucial for investors to devise effective trading strategies and better manage risks.
Account Types at Farmax Prime Limited:
The official website of Farmax Prime Limited does not provide a detailed introduction to its account types. This makes it difficult for investors to understand the different account types available on the platform and their features. This also indicates a lack of transparency on Farmax Prime Limited's official website.
Trading Instruments at Farmax Prime Limited:
Offers forex, cryptocurrencies, stocks, indices, and commodities. However, the homepage does not provide detailed introductions to these products. Investors cannot obtain more information.
Leverage and Spreads at Farmax Prime Limited:
Farmax Prime Limited only introduces the leverage and spreads for cryptocurrency trading and does not provide detailed explanations for the spreads and leverage of other trading products.
Characteristics of the cryptocurrency trading platform at Farmax Prime Limited include floating spreads, a leverage ratio of 1:3, a margin call notice of 30%, 24/7 trading hours, and a minimum trade size of 0.01 lots (with no maximum limit). Investors considering using EFINANCE GLOBAL LTD for cryptocurrency trading need to thoroughly consider these characteristics and ensure a comprehensive understanding of their impact in order to better formulate trading strategies and manage risks.
Deposit and Withdrawal Methods at Farmax Prime Limited:
Farmax Prime Limited's official website does not specifically introduce information on deposit and withdrawal methods. The lack of specific details on the process, fees, and handling times poses inconvenience and risks to investors.
Contact Information of Farmax Prime Limited:
The only contact method provided by Farmax Prime Limited is email (support@efinanceglobal.com). This single channel of communication could cause certain difficulties for users in seeking timely assistance in emergencies. Email usually requires a longer response time, which may not meet some urgent needs for immediate solutions.
Social Media of Farmax Prime Limited:
Farmax Prime Limited does not provide any social media channels. The absence of Farmax Prime Limited in social media may affect potential users' perception of its reliability and interactivity.
Summary:
In summary, there are deficiencies in corporate transparency, regulatory information, account details, and social media presence at Farmax Prime Limited. Investors need to consider the potential risks and uncertainties carefully when choosing this platform. Currently, Farmax Prime Limited is flagged as "Suspected Fraud" on Traderknows.
