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MaxiMarkets Review – is it scam or safe?

MaxiMarkets Review  – is www.maximarkets.ru scam or safe forex broker?

RATING: 2 / 2 REVIEWS ForexBrokerz MaxiMarkets
MaxiMarkets is an offshore broker. Your money is not safe.

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 Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Mini $500 0.1 lot 1:400 2.5 pips
Standard $5000 0.1 lot 1:400 2 pips
Gold $10 000 1 lot 1:400 1.7 pips
Platinum $25 000 1.5 lot 1:400 1 pips
ECN $50 000 1 lot 1:400 0.5 pips

The broker has five types of live trading accounts: Mini, Standard, Gold, Platinum and ECN. We could not find a demo account readily available.

 

MaxiMarkets offers trading in over 45 forex pairs and CFDs on indices, stocks, commodities and energies, as well as in spot metals.

 

 

The Company. Security of Funds

 

Company Country Regulation
MAXI Platinum Limited Bulgaria No

 

MaxiMarkets is obviously a forex broker targeting the Russian-speaking traders, but is owned by a company based in Bulgaria, according to its site. The company, however, is not regulated neither by Bulgaria's Financial Supervision Commission, nor by the Bank of Russia.

 

On its site the broker says that it is closely watching the developing situation in Russia, but the explicit requirement for forex brokers to be regulated there has not yet come into effect.

 

According to its site, the company is a member of the independent external dispute resolution (EDR) organization Financial Commission (FinaCom) whose members include forex, CFD and binary options brokers.

 

Overall, it is riskier to deal with unregulated brokers, no matter their good intentions and pledges that they will become regulated shortly. As a general ruler, it is much better and safer to deal with properly supervised brokers, as they comply with a wide set of rules and requirements, usually including the membership in client compensation schemes, keeping client funds in segregated accounts, as well as employee competence and capital adequacy. The different regulators provide different level and quality and oversight, with come, like UK's FCA and the Australian Securities and Investment Commission (ASIC), being better than others.

 

 

Trading platform

 

Like the vast majority of forex brokers, MaxiMarkets offers MetaTrader 4 as its trading platform. The broker provides all versions of the MT4 – for desktop, web and Android and iOS mobile devices.

 

The MT4 has been the favorite of brokers and traders alike for over 10 years now and it does not seem it is going away anytime soon. The platform is user friendly, supports multiple types of orders, hedging and third-party APIs. The MT4 also provides various charting and technical analysis tools, Expert Advisors (automated trading) and a lot of other options.

 

 

Promotions

 

MaxiMarkets has several types of promotions. Among them are the “refer a friend” program, deposit bonus for new clients and a “100% insurance” of the trades when trading on news. All promotions are subject to additional terms and conditions.

 

 

Methods of payment

 

MaxiMarkets accepts payments with credit card and bank transfers. There is also the option to make a deposit through Qiwi, YandexMoney, WebMoney and the Russian instant money transfer system Zolotaya Korona.

 

 

Conclusion

 

Russia's forex market is big and lucrative and it is understandable that many brokers want e piece of the action. There are, however, properly regulated forex brokers – both local and international – who offer their services to Russian traders, so it is better to choose one of them. In reality, MaxiMarkets does not that lucrative proposal and favorable trading conditions to choose it over another broker. - Its initial deposit is rather high and the average spread for the most basic type of account is a bit over the industry average. There is no micro account, either.

 

Pros Cons
MT4 Unregulated
  High deposit

 

Latest news about MaxiMarkets
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Traders` reviews for MaxiMarkets

Spread

Pros

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Slippage

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Requotes

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Cons

 

 

Price feed

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Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

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Summary

Pros

Cons

 

 

The worst ever seen company

Please be careful and never contact this company.
As soon as you sign just for getting simple info( that is what was
my goal) they start calling you days and nights demanding talk to them.
For two weeks they kept calling me at 4 a m every night. I asked
many times to close my account and leave me along.
Actually when you sign up you are not required to talk to them or
keep any contacts. From call to call they become more and more
annoying and aggressive asking you personal questions (what is occupation,
what time is your lunch) and saying that you are a lier.


Inna 10/03/2019

Very bad broker

Hi
Please provide advice to all traders about this company
Scam Company
This is my experience with them

Regards

Jihad 02/10/2019

MaxiMarkets blackmail

I opened a demo account at maximarkets to test their services. They continued to call me 1 - 2 times per week in order to determine me to deposit. One of Maximarkets's representatives (Daria) threatened me that if I don't open a real account in two days, they will add me to black list of brokers. This is a total nonsence, but with blackmail they try to gain traders.
They usually call from this number: +74952681464.

Pavel 09/27/2017
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