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MaxiMarkets Review вЂ“ is www.maximarkets.ru scam or safe forex broker?
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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
|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.
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.
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.
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.
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MaxiMarkets – is the high-profile international company, successfully providing up-to-date services for its customers.
However, is MaxiMarkets a scam or a respectable company, which you can trust? We answer this question in the detailed overview of the broker.
MaxiMarkets – one of the most informatively active companies. The broker houses within Russian Bankers’ Association and Association of Regional Banks of Russia, analysts of the companies attend the Supervisory Council SRO RCFT. MaxiMarkets partners are the powerful financial structures («IAFT», «123Service» holding croup, «AKBR»). Analytical materials of the broker are used by financial market leaders (Bankir.ru, VestiFinance, Investing.com, InvestForum, TatCenter and other). With the team of the brand there are leading financial analysts and experts of economical sciences, this allowed getting the keen perception of financial markets and sterling serviceс.
MaxiMarkets – is a contemporary Forex broker, which mission is to provide the quality services for online trading. The broker offers safe terminal for trading MetaTrader, most popular by traders, there is also its own robust platform, which let you work quickly with the wide range of tools, execute transactions involving monetary resources, get latest information.
Over 100 financial tools are waiting for the company customers (currency pairs, precious metals, energy, indexes, basic stores etc.). For smooth 24 hours trading you may use free sms-signals, daily analytics, video-forecasts, training toolkits, video lessons (including the unique training program “One on one” with custom-tailored approach), account manager support and many others). It is safe to say that broker set itself up for determined effort suggesting maximum solutions for those Forex traders who came to make good money. Not merely professionals feel comfortable working with it but also binary novices, getting here the invaluable trading experience, taking advantage of tutorials and free books.
Deposit and withdrawal
MaxiMarkets offers advanced capabilities for deposit and withdrawal. To deposit on your account you need to sign up by the broker, add funds, choose the convenient transaction way (minimum deposit is 500$). For withdrawal the trader may use also the current payment systems — from usual plastic cards to electronic wallets:
The funds are available for trading right after the payment. The withdrawal is possible for authorized traders only, taking usually from some hours to three days. There are no withdrawal commissions, neither the transfer restrictions.
Complaint against MaxiMarkets
Despite of MaxiMarkets impressiveness, its transparent policy, proving its image and success there is absolutely different feedback in Internet, both positive and negative. Some traders point among advantages the good training base which is ideal for novices, professional analytics, detailed sms-signals, professional service, quick payouts, convenient personal account and terminal.
However there are the issues, too, which are enough in Internet today: the high market entry threshold to real trading (500$), the website is user unfriendly, withdrawal issues, touting unfavorable bonuses by managers, unprofitable trading signals, support service issues (does not work, does not react on requests). Besides MaxiMarkets does not follow the feedback in Internet, traders point this, too.
Generally, despite of the sheer number of different feedback, MaxiMarkets operates in the financial service market effectively enough, to be sure, it has absolutely serious intentions. It is to be hoped that the company plans its service enhancement and following feedback from traders.
If we find complaints about MaxiMarkets, we will post it on social media. Follow us to be well informed:
MaxiMarkets is it a scam?
MaxiMarkets is quite ambitiously represented in the financial market and reveals advanced trading capacities. The broker houses within the mighty financial structures (Russian Bankers’ Association, Association of regional banks of Russia etc.), among its partners there are powerful financial structures, its analytical materials are being used by financial market leaders (Bankir.ru, VestiFinance and others). Everything points to the fact that we face not a smalltimer but a complicated structure performing a certain mission.
The company operates successfully around the globe, offers the quality service and innovative trading capabilities, getting various feedback. One of the positive factors is providing safe products for trading: popular Метатрейдер platform (4 and 5), as well as its own robust terminal. The development of its own platform is its significant advantage proving that the company is ready to invest a lot into the quality and advanced trading capabilities, unlike scam artist websites This fact establishes trust.
Informative official website of the broker (including its Russian version), bonuses, availability of a cheer number of analytical information materials, accounting system, free demo account, support, professional trainings — ll this proves the considered customer care policy, which is also impossible for scammers. MaxiMarkets is a certified broker officially recognized in several countries, which effects positively the user attitude.
Shall we consider MaxiMarkets scam lottery? We suppose, not. It is proved by almost 10 years of effective cooperation with traders, along with the well established policy with serious entities, partnership with financial market leaders. To avoid issues with the broker, deal with your account manager right, ask him about bonus usage pattern, withdrawal procedure etc.
MaxiMarkets belongs to the international financial holding group MaxiServices Ltd, registered in Great Britain, it performs its activity under English regulations.
Each company trader may get 2 types of bonuses:
1) «Bonus 30%» to the first deposit amount. To get the bonus you need to add funds on your real account (at least for 1 000$), send the supporting documents to the broker. After that the bonus is available for trading. Ask your account manager about the offer conditions.
MaxiMarkets brokers operates quite successfully in the financial service market for almost 10 years already. The company pays great attention to the traders training, innovations and service quality, what is pointed in its positive feedback. The broker established effective partnership with the mighty financial institutions, holds licenses, cooperates with the powerful media outlets providing analytics. However there is the negative feedback from traders in Internet, which the company is supposed to follow changing the situation for better and keeping its service enhancement.
We point also that the broker has a solid image, proves the professionalism and reliability, so today we will not consider MaxiMarkets a scam artist. But the feedback from traders we expect for this review may not merely effect the broker rating and status, but warn the market players from potential problems.
MaxiMarkets is an established online trading brokerage who is emerging as a leader in the global financial markets. The brokerage provides their traders with best in class trading tools, sophisticated trading technology, and a variety of tradeable assets so that their clients can maximize their profits from trading. MaxiMarkets is owned and operated by Maxi Services Ltd. and was founded in 2008 as a small time trading brokerage. Since their establishment, MaxiMarkets has grown rapidly and now enables both retail and institutional clients from around the world to trade forex, crypto, commodities, stocks and indices. The brokerage is based out of St. Vincent and Grenadines with their headquarters located at Maxi Services Ltd. Suite 305 Griffith Corporate Center, PO Box 1510 Beachmont, Kingstown, St. Vincent and Grenadines. Therefore, MaxiMarkets is an offshore trading brokerage and has yet to become licensed or regulated by any reputable regulatory authorities. While this raises some concerns, it doesn’t necessarily mean that MaxiMarkets cannot be trusted. To find out if MaxiMarkets can be trusted and if they provide competent and reliable trading services, we conducted an in-depth review where we analyzed all aspects of the MaxiMarkets brokerage and presented the results here for your review.
As with most online trading brokerages that facilitate the trading of forex, MaxiMarkets provides their traders with the entire suite of sophisticated MetaTrader 4 (MT4) trading platforms. Traders can download the MT4 platform to their desktop computer, use the MT4 Web Terminal, or trade on the go with the downloadable MT4 mobile trading application. All of the MT4 trading platforms mentioned here are very advanced and intuitively designed which make for a seamless trading experience for both beginner and experienced traders. The platforms feature an advanced charting package that comes complete with numerous built in technical indicators, loads on drawing and analysis tools, and a variety of chart types, and time frames. The platforms also allow traders to conduct one click trading directly from the charts and does so with lightning speed for fast execution times. Also, traders interested in automated trading can use Expert Advisors (EAs) to automatically identify trends and trade based on the algorithmic code implemented into the platform. All in all, the MT4 trading platforms are highly capable and more than sufficient for nearly every type of traders needs.
In addition to the suite of MT4 trading platforms described above, MaxiMarkets also features their very own proprietary web-based trading platform. This proprietary platform accommodates the needs of beginner traders as it is very simple and easy to use. The platform features a beautifully designed trading interface with basic yet sophisticated trading functionality to effectively analyze the markets and trade.
MaxiMarkets is a very diverse online trading brokerage as they provide their clients with a wide array of financial assets to trade across the global financial markets. For instance, clients can trade forex, crypto, commodities, stocks and indices. See these markets overviewed below.
Fees and Commission
The fees and commissions imposed on MaxiMarkets traders are very reasonable and even competitive with the industry standards. The fees do vary greatly depending on the type of trading account the client has. The different trading accounts are based primarily on the amount of the traders initial money deposit. Accounts with higher deposit amounts benefit from lower trading fees. See the different accounts and associated spreads below.
Security and Fairness
While MaxiMarkets is not a licensed or regulated online trading brokerage, this has not hindered their ability to provide safe, secure, and fair online trading services. MaxiMarkets has been competently providing viable online trading services since 2008 and employs the latest and greatest security measures for keeping their client funds and personal information safe. Their online trading platform and trading accounts are protected by rigorous firewalls and SSL encryption technology. As well, all financial transactions are handled by level 1 PCI certified payment service providers. Overall, traders can rest assured that MaxiMarkets is secure and fair.
MaxiMarkets provides their customers with excellent customer support that’s available 24 hours a day, 5 days a week. Support representatives can be reached via email, live chat, and telephone. Additionally, customers can receive support via the comprehensive trader center that comes complete with tutorials, training videos, an economic calendar, and other helpful and educational content. One unfortunate aspect of MaxiMarkets is their lack of FAQ page or forum page where traders can find answers to key questions.
The MaxiMarkets online trading brokerage has built up a viable reputation over the years and is now well established as a reputable online trading brokerage in the financial trading industry. Traders from all over the world have the opportunity to trade a wide variety of financial assets with some of the best trading platforms in the world. Also, the brokerage provides competitive fees and commissions as well as favorable trading conditions. The customer support is pretty good as well, and so is the broker security. All in all, MaxiMarkets is a viable online trading brokerage.
The following are the common questions that customers inquired about MaxiMarkets.
Is MaxiMarkets regulated?
No, it is not regulated.
Is MaxiMarkets a scam?
No, MaxiMarkets is a legit broker and the provide reliable and reputable trading services.
Where is MaxiMarkets based?
MaxiMarkets is based at Maxi Services Ltd. Suite 305 Griffith Corporate Center, PO Box 1510 Beachmont, Kingstown, St. Vincent and Grenadines.
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