Reviews and review of the MaxiMarkets trading platform

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Choosing an online trading platform: MaxiMarkets

✅ This Trading Platform is available in United States

The modern world financial market is hard to imagine without one of its most interesting segments – online trading. Even the fact that there are a lot of swindlers among the real participants of the “retail” trades, who only call themselves brokers, and in fact are engaged in deceiving gullible traders, does not stop those who want to make money using the Internet.

The field of activity presented is associated with a high risk of losing your savings, but the statement that online trading is a 100% scam is not true. Many traders earn decent amounts by working in this direction. What determines the success of such projects? First of all, from the broker you have chosen to gain access to the financial markets. In order not to become a victim of scammers, it is necessary, before opening a trading account on the platform that interests you, carefully examine a potential partner. Consider how this is done on the example of the famous company MaxiMarkets.

Characteristics of the main indicators of the brokerage firm MaxiMarkets

This online platform has been a regular participant in the global financial market for about 10 years (in 2009, the creators of the resource provided their customers with the opportunity to quickly register an account and start implementing promising projects by buying / selling financial assets). The predecessor of the company in question is the famous European broker – Maxi Forex. This service is registered on the islands of Saint Vincent and the Grenadines, and its head office is located in London.

The list of positive indicators of broker activity includes:

• The resource administration guarantees its customers complete anonymity and an individual approach to each trader.

• There are no hidden fees, incomprehensible debiting of funds from trading accounts and the need to pay for services that you did not order.

• Partner programs MaxiMarkets allow you to earn good money, even if you do not have the necessary experience and knowledge.

• Traders have the ability to open / close trades over the telephone.

• Using MaxiMarkets application, broker clients can make financial transactions using modern mobile devices.

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• The only fee that is charged to resource users is the fee for the transfer of leverage the next day, and the main source of profit for the broker is the spread.

The above factors are of interest to traders who are looking for trading platforms with the best conditions for cooperation, but this is not enough to make a final decision whether to register a login with MaxiMarkets or it makes sense to continue the search. To answer this question, we will continue to study the presented broker company.

Security at MaxiMarkets

To begin with, the company’s head office in London and its representative offices in different countries of the world can be considered proof of the decency and reliability of MaxiMarkets. The connoisseurs who specialize in fraudulent schemes in this field do not like to show their “face”.

The use of the latest equipment and software, as well as a team of highly qualified specialists, reliably protect deposits and personal information of traders from detractors. In addition, the company’s employees must call back their customers, both during the registration of the profile and to obtain confirmation of the trader’s desire to withdraw money from his trading account. The most cautious users can insure their deposit (compensation for losses up to 100% of the insured amount).

MaxiMarkets Regulator

The biggest drawback of the broker is the lack of a license (permission) from well-known regulators in this field of activity. Unfortunately, the fact that the presented company cooperates with organizations such as The Financial Commission does not compensate for the lack of a regulator endowed with relevant powers (dispute resolution, legal support for traders, control over the fulfillment of obligations, etc.).

Training at MaxiMarkets

The creators of the resource paid a lot of attention to educating their potential customers. Almost everyone can get all the necessary information so that without preliminary preparation (without having the slightest idea about Forex and online trading) to engage in buying / selling financial assets and earn good money from it.

For training beginners apply:

• Dictionaries of terms.

• Educational articles about Forex and currency transactions.

• Answers to questions on this topic.

• Examples of various strategies with error analysis.

Beginners are given the opportunity to copy trades of professional traders and get training, using the support of a personal manager.

Experienced traders can significantly increase their income by correctly using the analytical information provided in the appropriate section of the web resource. This financial calendar, and reporting of large companies, as well as the latest economic news, charts and quotes.

After studying the theory, experienced traders recommend opening a demo account at MaxiMarkets to complete the practical part of the training program (this will allow you to save your personal savings and see how financial transactions are carried out in real time).

Rules of trading at MaxiMarkets

The creators of the company offer their customers to use the worldwide trading platform MetaTrader 4, an online platform or their own development, to work on the site. In addition to the training account, the following accounts are provided on the official web resource of the broker:

Additionally, traders can use a special ECN account, which allows users to work in areas where a conflict of interest between a broker and his clients is excluded. Some reviews prepared about MaxiMarkets contain recommendations to use this system, which, according to the authors, increases your chances of winning.

What opportunities does a trader get by choosing one of the above accounts?

The conclusion is quite predictable, the more you deposit money into your account, the more opportunities you get on the broker’s website.

General trading conditions at MaxiMarkets

Based on the reviews prepared on MaxiMarkets, it can be concluded that most traders consider the resource in question to be qualitative, in almost all key characteristics.

• The first minimum deposit is $ 500.

• Spreads – from 1.4.

• The minimum transaction is 0.1.

• Account currencies – dollars and euros.

• Contests and bonuses – there is.

• Affiliate program – provided.

• Leverage – 1: 400.

MaxiMarkets Deposit and withdrawal

• Transfers of financial institutions.

MaxiMarkets Trading Instruments

In addition to currency transactions (both with fiat money and crypto coins), resource users can make transactions with precious metals and CFD contracts (indices, stocks, raw materials and other goods).

MaxiMarkets Review – is it scam or safe?

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

Company Country Regulation
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.

Trading platform

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.

Promotions

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.

Conclusion

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.

Pros Cons
MT4 Unregulated
High deposit
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

MaxiMarkets

MaxiMarkets Review

  • Excellent selection of trading platforms
  • Wide array of tradeable assets
  • Good customer support
  • Good reputation
  • Not licensed or regulated
  • Lacking some key information
  • High initial deposits

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.

Trading Platform

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.

Exchange Markets

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.

Forex

  • 78 currency pairs

Cryptocurrency

  • 16 cryptocurrency assets

Commodities

  • Crude Oil and Brent Oil
  • Natural Gas
  • Gold
  • Silver
  • Copper

Stocks

  • 60 tradeable stocks

Indices

  • 13 of the most popular global indices

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.

Mini Account

  • Average spreads of 2.5 pips
  • Minimum deposit of $500

Standard Account

  • Average spreads of 2 pips
  • Minimum deposit of $5,000

Gold Account

  • Average spreads of 1.7 pips
  • Minimum deposit of $10,000

Platinum Account

  • Average spreads of 1 pips
  • Minimum deposit of $25,000

ECN Account

  • Average spreads of 0.5 pips
  • Minimum deposit of $50,000

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.

Support

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.

Conclusion

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.

MaxiMarkets Q&A

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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