Bolmax Management Review & User Rating 2020
Bolmax Management is an Estonian broker which is part of the Bolmax Management Group. Bolmax Management (BML) is an Estonia-based broker that offers forex and CFD trading.
- Start year:2009
- Country of origin:Seychelles
- Payment options:-
- Minimum account size:$100
- Minimum lot size:0.01 lot
- Leverage:up to 1:100
- Spreads:fixed, variable, 1.7 pips on EUR/USD
Bolmax Management is an Estonian broker which is part of the Bolmax Management Group. However, the broker is not licensed by the Estonian Financial Supervision Authority. The company is registered in an offshore territory in the Republic of Seychelles. We recommend traders being careful with offshore-based brokers, since they are not regulated and supervised by any public authority.
The broker’s investment portfolio includes 37 currency pairs and CFDs for indices, commodities, and shares. The company does not offer CFDs for cryptocurrencies, although this asset is highly relevant today.
BML has three types of accounts: standard, ECN, and ECN VIP, which differ in the size of minimum deposits, spreads, and fees.
PAMM accounts are also available in the company.
The minimum deposit starts from $100 on a standard account and reaches $50,000 on an ECN VIP account.
According to the information on the Bolmax Management website, on average, spreads on accounts amount to 1.7 points for the most liquid EUR/USD currency pair.
In fact, spreads on ECN accounts are not so profitable: they are about 1.5 pips. While other brokers offer spreads in the range from 1.0 to 1.5 points on EUR/USD.
The leverage of Bolmax Management is up to 1:100 for forex instruments, 1:50 for metals, and from 1:5 to 1:20 for indices.
For more information, refer to the trading terms on the broker’s website.
Trading with Bolmax Management is carried out through the industry-leading MetaTrader4 platform which is highly appreciated by users for its simplicity, reliability, as well as top-class professional tools and features. MT4 includes a variety of automated trading robots and a set of diagrams with technical indicators.
In general, the absolute majority of traders prefer trading through this platform.
The website is available in Russian. Support team is able to assist customers through a feedback form, by phone and email. There is also a dedicated number for customers from Russia. Experts provide consultation in Estonian, English, and Russian.
Bolmax offers wire transfers and bank card transactions. Replenishment of an account from a bank card is available only to holders of cards issued in Russia.
However, there are no electronic systems for payments through Skrill, PayPal, or Neteller.