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But, according to the statistics more than half of the people using Maxitrade have a complaint about them. This is because of the fact that they aren’t registered and aren’t regulated. There maxitrade.blog are other, much better brokers out there that you can use. Brokers that are under strict rules and regulations themselves. The best way to trade is to make use of trustworthy brokers.
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. Get FXCM New to Forex Trading Guide when you sign-up for a FREE $50k practice account. We introduce original reviews and comments on Maxi Forex. They have been written by actual or former clients of the company. Choosing a broker is not as difficult as it appears at first sight.
The key to remember here is that the trades that are placed are not increasing your account value. If you have given your broker trading authority over your account, then the possibility of churning can only exist if they are trading your account heavily, https://maxitrade.blog and your balance either remains the same or decreases in value over time. Churning occurs when a broker engages in excessive buying and selling of securities in a customer’s account chiefly to generate commissions that benefit the broker.
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. I would also like to note that Crypto broker Maksytrade is regulated by Cyprus Securities and Exchange Commission (CySEC) and participates in Investor compensation fund, which stands for its reliability. All clients of PrimeTime Finance enjoy the highest level of support.
This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
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Reading the fine print will help make sure you understand all contingencies in these types of instances. Issues of this nature should be resolved and explained to the trader, and the broker should also be helpful and display good customer relations. One of the most detrimental issues that may arise between a broker and a trader is the trader’s inability to withdraw money from an account. On occasion, losses are the broker’s fault.
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. Regarding orders execution model, Maxitrade is a b-book broker (market maker). Maxitrade offers trading of cryptocurrencies only. Maxitrade is regulated by the FSA (St. Vincent and the Grenadines).
Its reliability and quality of work is unparalleled. International Forex brokers MaxiTrade, Saxo Bank, and OANDA are examples of brokerage companies who are not only able to follow the rules implemented by regulators, but are also able to establish successful working relations with traders around the globe. Most brokers are unregulated or regulated by an offshore regulation authority which doesn’t mean much because there wont be anyone making sure that they aren’t doing any illegal things.
- Attracting people to take “Bonus” and than emptying them accounts by multiply trades with spread and similar crime techniques.
- Most brokers are unregulated or regulated by an offshore regulation authority which doesn’t mean much because there wont be anyone making sure that they aren’t doing any illegal things.
- You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
- If you have problems, attempt to discuss them with the broker.
- Customers are invited to open three types of accounts.
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One cannot really predict that far in the future to have a bulletproof trading plan. It would be more logical if the premium account holders got their plans updated more frequently to reflect changes on the market.
MaxiTrade has a large number of financial instruments that makes it possible to work with quotes of precious metals and oil. Maxitrade platform — the easiest way to earn money on the cryptocurrency exchange market. MaxiTrade is an unlicensed CFDs broker owned by Strategy One LTD, which is a company with 10 years of experience and has earned the trust of Association of Russian Banks. We were unable to confirm this claim, but we are pretty sure that all our South African readers can find more details in our MaxiTrade review below.
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. 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.
Maxi is a dying broker. No chances to get new customers.
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At Broker complaint registry it’s our job to make sure you can fight back and get your money refunded. By filling the form you have taken the first step to recover your money. Do an online search for reviews of the broker. A generic internet search can provide insights into whether negative comments could just be a disgruntled trader or something more serious. A good supplement to this type of search is BrokerCheck from the Financial Industry Regulatory Authority (FINRA), which indicates whether there are outstanding legal actions against the broker.
Maxitrade is situated in St. Vincent and the Grenadines. You will even have two customer support emails that you can use. They are offering different types of accounts, and a demo account as well.