MaxiTrade is an online broker that offers trading in forex, CFDs, and cryptocurrencies. It is owned and operated by Strategy One Ltd., a company registered in the Marshall Islands. MaxiTrade is not regulated by any major financial authority, and there have been numerous complaints from traders about unfair trading practices and difficulty withdrawing funds.
Company Overview
MaxiTrade was founded in 2018 and claims to have over 100,000 clients worldwide. The company offers a variety of trading accounts, including a micro account with a minimum deposit of $500 and a standard account with a minimum deposit of $1,000.
Does MaxiTrade Have Any License?
MaxiTrade is not licensed by any major financial authority. At the bottom of the con artist’s website, you’ll find a screenshot that reads “DayDream Investments” from the Marshall Islands.
Since this is an offshore domain with a negligent regulator in GLOFSA, we have no reason to trust this brokerage. Its monkey business is not supervised and MaxiTrade can basically run its scam unhindered.
Is MaxiTrade Regulated By Any Authority?
MaxiTrade is not regulated by any major financial authority. The company is also warned by various regulators.
Pros and Cons:
Pros:
- Low minimum deposit
- A variety of trading platforms
- Wide range of trading instruments
Cons:
- Not regulated by any major financial authority
- Numerous complaints from traders about unfair trading practices and difficulty withdrawing funds
- High spreads
- Uncompetitive leverage
How Does MaxiTrade Reach To Their Prey?
MaxiTrade reaches out to potential clients through a variety of channels, including online advertising, social media, and cold calling. The company often uses aggressive and misleading sales tactics to convince people to open accounts.
Technical Details
Minimum Deposit:
MaxiTrade’s minimum deposit is $500 for a micro account and $1,000 for a standard account.
Trading Platform:
Spread:
Spreads are the difference between the bid and ask price of a financial instrument. MaxiTrade’s spreads depend on the account and its average is 1.6 pips.Leverages:
Leverage allows traders to control a larger position with a smaller amount of capital. MaxiTrade offers a maximum leverage of 1:200.Packages and Products They Offer
Here’s an overview of MaxiTrade’s trading account types, per the broker’s website:- Starter – 500 $;
- Bronze – 4,001 $;
- Silver – 15,001 $;
- Gold – 60,001 $;
- Platinum – 100,001 $;
- VIP – 500,000 $.
Withdrawal and Deposit Method
MaxiTrade offers a variety of withdrawal and deposit methods, including credit cards, debit cards, bank transfers, and e-wallets. Withdrawals can take up to 5 business days to process.What Do Their Previous Traders Say?
There are numerous complaints from traders about MaxiTrade. Traders have complained about unfair trading practices, difficulty withdrawing funds, and poor customer service.Summing Up- Why Should Not You Trust MaxiTrade
MaxiTrade is not regulated by any major financial authority, and there have been numerous complaints from traders about unfair trading practices and difficulty withdrawing funds. MaxiTrade also has high spreads and uncompetitive leverage.If Bad Things Happen, Where Can You Get The Quick Solution?
If you have been scammed by MaxiTrade, you can file a complaint with the Financial Conduct Authority (FCA) in the UK or the Securities and Exchange Commission (SEC) in the US. You can also contact us which specializes in helping victims of forex scams.File A Complaint Against Scam Broker's
Final Thoughts:
MaxiTrade is a scam broker that should be avoided. The company is not regulated by any major financial authority, and there have been numerous complaints from traders about unfair trading practices and difficulty withdrawing funds. MaxiTrade also has high spreads and uncompetitive leverage. So, don’t invest with them.
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