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MaxiTrade Review - is it scam or safe?

MaxiTrade Review - is maxitrade.com scam or good forex broker?

RATING: 1 / 5 REVIEWS ForexBrokerz MaxiTrade
MaxiTrade is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage Spread
Start  $250 1:200  N/A
Silver  $3 000 1:200  N/A
Gold  $10 000 1:200  N/A
Platinum  $50 000 1:200  N/A
VIP  $100 000 1:200  N/A

 

MaxiTrade is a forex and CFD broker that focuses on cryptocurrency trading. It offers the above account types and trading on the industry’s standard MetaTrader 4 platform with seemingly good spreads. In spite of this, we cannot recommend this broker, because it is not regulated. Make sure you read this review prior to investing with MaxiTrade.

 

 

MaxiTrade Advantages

 

Trading on MT4

Like the vast majority of forex brokers, MaxiTrade offers MetaTrader 4 (MT4) as its trading platform. MT4 is a reliable trading software that offers numerous features and options, with great charting and useful analysis tools. Besides, the platform is very popular for its auto trading bots, called Expert Advisors. Despite the efforts of the software developer MetaQuotes to push forward the MetaTrader 5, the MT4 is still the favorite platform of most traders.

 

Seemingly good trading conditions

MaxiTrade has not specified the essential trading conditions on its website, but as we tested its MT4 in demo mode, we found that it provides leverage up to 1:200.

 

 

Such leverage will suit most trading styles and is yet no dangerously high. As regards the cost of trading with this broker, it is extremely low – the spread on the EUR/USD is floating around 0.2 pips and no commission applies. In fact, there is no way for MaxiTrade to be profitable, if the spreads are really that low on live accounts.

 

Many instruments available for trade

Another possible benefit of using this broker is its rich product portfolio. MaxiTrade offers many currency pairs and various CFDs for trade, including cryptocurrencies - Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, Monero, Stellar Lumens, Zcash, and more.

 

Nonetheless, we would advise those of you who are into cryptocurrencies to select a more reliable broker. MaxiTrade is not licensed and not to be trusted.

 

 

>> Trade Bitcoin with a regulated forex broker <<

 

 

MaxiTrade Disadvantages

 

Not licensed, regulatory warning against it

According to the information on its website, MaxiTrade is onwed and operated by Strategy One Ltd., an offshore company registered in St. Vincent and the Grenadines (SVG). Brokers in such offshore zones are not licensed, nor supervised by any governmental agency, and many of them run investment scams. That is why we advise traders to avoid offshore brokers as a general rule.

 

What is worse, we found oy that the Bank of Lithuania has included Strategy One Ltd. and its binary options brand, SuperBinary, in its alert list. This is a very worrisome sign, so you’d better not risk with MaxiTrade.

 

MT4 provided by Maxi Services Ltd.

When we downloaded the booker’s MT4, we saw that it is provided by a third party, Maxi Services Ltd. Given the similarity of the names, we suspect that actually the people behind MaxiTrade could be the same as those owning Maxi Services Ltd. The latter was actually a FinaCom member, but voluntarily withdrew its membership in April 2018.

 

This company operates several brokerage brands, including MaxiMarkets and Umarkets. Taking into account the plethora of negative user comments on our review of Umarkets, it is most likely a scam broker.

 

Unrealistic spreads

As we have already mentioned in the Advantages section, the spreads on MaxiTrade’s demo accounts are too good to be true. We suppose that the spreads on live accounts are higher, or that some commission applies. Yet another possible explanation of these unrealistic trading conditions is that this broker is simply a con-artist and will not allow any withdrawals, as is the case with most scams.

 

 

Conclusion

 

Although MaxiTrade seems to offer attractive trading conditions and uses the ever popular MT4, we would not recommend this forex broker. It is not regulated and might be one of the many fraudsters operating on the financial markets.

 

In order to avoid being scammed, you’d better only deal with entities holding licenses from reputable financial regulators like UK’s FCA, Cyprus’ CySEC or Australia’s ASIC. These regulatory agencies require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

 

 

>> Trade with a CySEC regulated broker <<

 

 

To sum up our review of MaxiTrade in a few words:

 

Pros Cons
Supports the MT4 Not licensed, regulatory warning against it
Seemingly good trading conditions MT4 provided by Maxi Services Ltd

Many financial instruments available for trade

Unrealistic spreads

 

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Traders` reviews for MaxiTrade

Spread

Pros

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Slippage

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Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

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Summary

Pros

Cons

 

 

Maxitrade deposit

totally a waste time, keep away from this people, they say one thing and after they change it , ones you give the money you will never get them back, and still keep annoying at the phone, i told them to don't ring me anymore , his answer was I HAVE RIGHT TO RING YOU , i allowed he to play at my place to show me how to make money, he lost my money and now the account is -0.23$, still keep ring me and asking me why the account is down, in minus, looks like people what don't have nothing better to do then annoying other people on the phone

eugeniu bria 06/14/2019

Maxitrade and Maxi Services

18 months 20k in and no sizeable withdrawals approved, I dont believe I will ever get my money back!

Justin van Elsen 05/28/2019

Beware of this company

Beware of this Company.

After I invested with them back on November 2018, they just ask for money and more money. They are the one who traded in behalf of me
they didn't teach me how to trade. Now, I almost lose my money, only $2,000 US DOllar left on my account.

I was trying to withdraw my money for $2,000 US Dollars but then Email: Natali Heazer | nataliah@maxitrade.com , ask me to complete all the documents on the account.

She promised me that she will refund the $2,000 US Dollar which is on my email but then after completing the documents,
she told me that a manager will speak with me which obviously the manager will only ask me to trade again, how can you invest more or trust a company if you can't withdraw money, once you know that you can withdraw, of course, you can invest again.
but this company just show that even with the small money left on my account ($2,000) they won't give it back to you.

Please withdraw this $2,000 US Dollars under my name.

dennis marwood 03/07/2019

MaxiTrade scam - I cannot withdraw!

BEWARE!!!
Take time to read!

This company after I deposit money, they just want me to deposit, they made a trade for me and I almost lose my money. Now I only have $2,000 left on the trading Account. Natali Heazer one of the compliance department, clearly told me that she's going to processed the withdrawal after I completed the documents, it took me some time to complete all the documents, a lot of documents that I had submitted but then finally I was able to complete it.

I thought that MaxiTrade will return the money already, but then Natali Heazer told me that I need to speak with the manager again which means that they are going to convince me again to trade and just lose the money.


Up until now the money is being held by MaxiTrade. I cannot withdraw my money!!!!!!

Dennis Marwood 03/07/2019

Воры / Thieves

мошеннический сайт, украли 500 доларов

Translated by Google:

fraudulent website, stole 500 dollars

cherepanov leonid Anatolyevich 12/09/2018
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