Is Maxitrade a Scam? Beware
We warn you against transfering any money to this broker. This is a pretty decent setup, however, the trading conditions are terrible. Spreads are huge and commissions very high. https://maxitrade.vip It pays much more to trade with a broker such as IQoption, which offer all these on a regulated platform, which, however, is not MT4. MaxiTrades uses the MT4 web trader.
A lot of regulators are following a similar path in its desire to actually care a country’s market participants. One of the biggest advantages that MaxiTrade takes pride in is the availability of a large number of analytical materials. The purpose of this video call is to save your accumulated money from the deceiving paws of the next deceivers in the international Forex market – the brokerage company MaxiTrade, which positions itself as a decent currency broker, but in fact turns out to be the most common offshore company with clear goals – to rob another forex trader and find another stock exchange from the Russian Federation. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Saxo Bank introduced the SaxoTraderPRO and SaxoTraderGO platforms, OANDA has a platform of the same name, and MaxiTrade provides the opportunity to trade on the xCritical platform and the MaxiTrade trading platform.
In case the potential client does not understand the risks involved, he/she should seek advice or consultation from an independent advisor. If the potential client still does not understand the risks involved in trading in any financial instruments, he/she should not trade at all. In order to withdraw money from the broker, the turnover targets need to be reached.
Maxitrade is an offshore FX and CFD broker that offers a large asset basket composed of currencies, indices, commodities, stocks, and cryptocurrencies. The website is owned by Market Solutions Ltd., which is a company registered at Kingstown, St. Vincent and the Grenadines.
MaxiTrade Contest Promotion
This type of behavior is similar to what the old binary options brokers did back in the day and is definitely something to avoid. Accounts start at $250, which is average for the industry but I consider it too high because clients should be allowed to “test the waters” with lower amounts until they get the hang of it or until they are certain they want to commit a larger amount. Of course, they offer larger accounts – Silver, Gold, Platinum and VIP, which will require deposits of $3,000, $10,000, $50,000 and $100,000 respectively.
And I say “surprisingly” because this broker is very new, not because they are so good that I wouldn’t expect to see any complaints. One would expect that the annual plan is the basic one, since in a way offers least value.
Every trader is obligated to check the legal status in their respective jurisdiction on their own. MaxiTrade is a broker, presumably Russian, that offers trading cryptocurrencies via CFDs on MT4 platform. The company behind the broker is Strategy maxitrade site One Ltd, or so the website claims. The website also claims the company has been around 10 years and “has earned trust” of Association of Russian Banks and the Association of Regional Banks of Russia. We were unable to verify that.
I liked this broker from the first day…
- The website is owned by Market Solutions Ltd., which is a company registered at Kingstown, St. Vincent and the Grenadines.
- The Service carries out your Transactions on an execution-only basis.
- Saxo Bank has been operating for a good 25 years.
- Broker Dispute helps victims of scam brokers to fight back and get their lost money back from scam brokers.
It doesn’t need to be the regular rules and regulations that a broker needs to have. And, they can change their rules and regulations as they please. Meaning that you will never know for sure if you are doing everything according to their rules and regulations. It is important to only use brokers that are regulated. them immediately and try to get your fund out.
Surprisingly enough, there is quite a handful of complaints online regarding Maxitrade. And I say “surprisingly” because this broker is very new, not because they are so good that I wouldn’t expect to see any complaints. People had difficulties withdrawing money and some have said that Maxitrade representatives traded on their behalf and then asked for more money. This type of behavior is similar to what the old binary options brokers did back in the day and is definitely something to avoid. They carry a vast experience and can tell you how to distinguish a fraudster and a scam from a law-abiding organisation.
Treading along the lines of scam and fraudulent activities, some have claimed of losing all their money, thus claiming bankruptcy. In this case, unfair competition plays a role. However, the majority of traders who are clients of MaxiTrade speak positively of its work. The company is proud of its trading platforms SaxoTraderGO and SaxoTraderPRO. The website also claims the company has been around 10 years and “has earned trust” of Association of Russian Banks and the Association of Regional Banks of Russia.
Usually, regulated brokers are not scams but there’s a grey area in this case because on one hand Maxitrade is registered with a financial watchdog but on the other hand, said the regulator is not known as feared supervision authority. In fact, this is a non-governmental organization and basically, anyone can get a certificate from them as long as they pay a fee and fulfill a few other requirements. MaxiTrade has its own trading platform that is compatible with any computer.
I want to praise the company. Of course, you’ve probably tried to ask the broker politely to simply return your money, and it obviously didn’t work. If you lost more than $3,000 to an online scam, we may be able to help you now.
However, while going through all the different account types we noticed that the minimum deposit for the start account is $250. The payment methods listed on the broker’s website are Bitcoin, Credit Cards, WebMoney and QIWI.
Platforms of all these companies can be used on a personal computer, tablet, and smartphone. There is also distrust towards broker companies that can artificially inflate market volatility and, as a result, distort market pricing. Regulators also mention the unstable operation of trading platforms. As a result, ordinary investors no longer trust the financial markets.
On top of that, let’s not forget that your money will be handled by their payment processor, which is a company from Azerbaijan. Bottom line is that that you will be dealing with 2 companies, one from St Vincent and the Grenadines and another from Azerbaijan, without high-profile regulation, so I think that’s not the best case scenario but so far there haven’t been any clear signs of a scam.