Brokers  /  FORMAX

FORMAX

Moderate risk
🇬🇧 United Kingdom · 5-10 years · since 2017-09-07 · Formax International Market Limited
FCAFSPR
Visit site ↗
—/5
★★★★★ ★★★★★
5 reviews ›
2
Licenses ›
7
Withdrawal issues ›
—
Min. deposit ›
—
Max leverage ›
0
Account types ›
41/100
Scam risk ›
1
Clone sites ›
▲ 0% positive▼ 100% negative
Independent ratingshow third parties score this broker
WikiFX1.62/10
Trustpilot—/5
Forex Peace Army—/5
41
Moderate risk
Scam Risk Scoremonitored · 2026-07-05
Lower riskHigher risk
  • 5 user exposure/complaint reports filed
  • Withdrawal complaints in ~140% of recent reviews
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing5535%
Company age2215%
Clone / impersonation012%
Withdrawal & exposure complaints10012%
Offshore registration108%
Transparency (site/info/social)2510%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameFormax International Market Limited
Headquarters🇬🇧 United Kingdom
Founded2017-09-07
Years operating5-10 years
Employees0
Official websiteformaxmarket.com
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods—
Withdrawal methods—
Instruments—
Registered address
Level 7, 203 Queen STreeT Auckland CenTral Auckland

Regulation & licenses · 2

RegulatorLicense typeLicense No.RegionStatus
FSPRInst Forex Execution (STP)207987New Zealand—
FCAInst Forex Execution (STP)624225United Kingdom—

Review analysis AI

Across 5 recent Trustpilot reviews, 100% are 1–2 star. The single most common complaint is being unable to withdraw funds (7 reports) — the classic warning sign in forex. We also found 1 clone site(s) impersonating this brand — a frequent vehicle for scams.

0
Period:
What users complain about
Where reviewers are from
Hong Kong5

Real user reviews

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About FORMAX

FORMAX is a forex and CFD broker based in United Kingdom, with records dating to 2017-09-07. It reports oversight from FCA, FSPR.

FXCanary’s verdict is “Guarded.” There are enough red flags that we’d urge caution before depositing.

Finally, beware of impersonation: we tracked 1 clone website(s) copying FORMAX. Always reach the broker through its verified official domain, never via links in ads or messages.

Overview compiled by FXCanary from regulatory records and public data. full FORMAX review