Forex Broker MaxiTrade: The Review

Agenda

Through a quick search on the internet, a lot of comments seem to aim at calling the broker a “Maxitrade scam” with a lot of Maxitrade customer reviews littered around online confirming so. Out of curiosity, we looked into the Maxitrade site to see if these claims are true and what we found may be surprising to say the least. 

Maxitrade as a Broker

The first thing you would need to know about Maxitrade is that it is a Forex and CFD broker located somewhere in Eastern Europe. Maxitrade broker offers services trade with a large basket of currencies, commodities, stocks, indices, and of course, cryptocurrencies. Here, we will look into all about the broker in this Maxitrade review.

MaxiTrade’s offers

After perusing around the Maxitrade official site, we found that a well-presented table detailing the spreads for all their trading instrument. The website shows hundreds of assets to trade and offers a pretty good leverage which can go up to as high as 1:200.  The MaxiTrade broker employs the use of the MetaTrader 4 platform which is a great choice for this broker. MT4 is available to the trader in two versions; a downloadable and web-based version which makes daily active trading effectively easy and portable with a number of devices.

The trading platform is offered by Xcritical and has given a great balance with a user-friendly interface while still keeping its functionality intact. The platform boasts a plethora of features for analytical and technical charting, keeping even the most advanced trader satisfied.     

The Maxitrade broker (https://maxitrade.com/) also offers a range of perks and bonuses depending on the account you’d be willing to open. These can range from how much support you can get for your analysis and how much of a priority would be given to your withdrawals. Here is an overview of the accounts and said perks that can be found in the MaxiTrade login page: 

Start Account

  • Deposit range from $250 – $3000
  • Bonus gained up to 50%
  • Basic Introduction to the platform

Silver Account

  • Deposit range from $3001 – $10000
  • Bonus gained up to 100%
  • Basic Introduction to the platform
  • Access to Educational and analysis materials 
  • Access to a personal analyst

Gold Account

  • Deposit range  from $10001 – $50000
  • Bonus gained up to 120%
  • Accelerated withdrawals
  • Basic Introduction to the platform
  • Access to Educational and analysis materials 
  • Access to a personal analyst
  • Weekly review of your trading account

Platinum Account

  • Deposit range from $50001 – $100000
  • Bonus gained up to 120%
  • Highest priority withdrawal
  • Basic Introduction to the platform
  • Access to Educational and analysis materials 
  • Access to a personal analyst
  • Weekly review of your trading account
  • Quarterly trading plan program

VIP Account

  • Deposit above $100000
  • Bonus gained up to 125%
  • Highest priority withdrawal
  • Basic Introduction to the platform
  • Access to Educational and analysis materials 
  • Access to a personal analyst
  • Weekly review of your trading account
  • Quarterly and Annual trading plan program
  • Real-time trading demonstration
  • Priority access to the analyst trading sessions
  • VIP hedging tools

  Obviously, the premium VIP members do get access to a lot of perks and features.  

The MaxiTrade broker gives traders favorable trading conditions and has services that are fairly regulated. There have been some minor inconsistencies presented in their website than what can be found in the trading platform.     

The range of its assets are huge and its range of cryptocurrency is wider than most brokers out there including the famous Bitcoin, Ethereum, Monero, and more. On the MaxiTrade site, it is detailed that their spreads are low with just around 10 to 20 USD for a Bitcoin, however on their platform, it can be pretty high with more than 100 USD for Bitcoin.   

That said the website https://maxitrade.com/ would be much better if it had an FAQ to cater to its client base as the MaxiTtrade login page and site are translated to 6 languages and can be difficult to find information pertaining to your needs.

Is Maxitrade a Scam?

For a starter, in order to let us put the “MaxiTrade fraud”, “MaxiTrade cheat”,  or, strangely enough, “MaxiTrade lie” to proof, we had to look into what it is regulated under. After we went about digging around the MaxiTrade.com site to find that the company is registered with the International Financial Market Relations Regulation Center (IFMRRC) with a proof of Certificate of Compliance 0395 AA V0128. Of course, this would be in contrast with a lot of Maxitrade reviews claiming that the broker is not regulated. Their business is fair and standard to the industry; however, it can be fair to say that the broker may need to be under a more prolific regulator in order for them to get out of the current light they are in at the time of writing this.

Across the internet, there are quite a number of complaints that can be found around customer review sites. However, most of these comments seemed to have been from last year and when checking the date the broker completed its IMFRCC only recently in January. We can assume to a certain degree that the broker is doing something to work on its reputation.

Should I give MaxiTrade a try?

When considering any broker for that matter, it is important to remember the risks involved and what the community has to say about that particular broker. And with what the community has to say about this broker, we have to stave most of  the negative comments are misinformed and, at times, have no real bearing to it. Bottom-line, if you do have the time and the capital, do give Maxitrade a try.

Though honestly, assuming from the MaxiTrade site’s Start Account deposit of $250, this venture can be considered a bit too high for first-time traders to test out with MaxiTrade. We would whole-heartedly recommend MaxiTrade to experienced and seasoned traders at most as there are other places with cheaper alternatives.  

A few things to consider though – not all of the MaxiTrade customer reviews are on the fault of the broker itself. When you are faced with all sorts of posts from forums, review articles, and comments about a “MaxiTrade scam”, you will notice that some traders, at times, would seem to be bent on blaming the broker or exterior influence as opposed to admitting that it may have been the fault of their own trading strategies. This would lead people to believe on why Forex is a scam.

Positive Maxitrade Customer Reviews

Amidst most of the Maxitrade review sites, there are still a few positive comments and reviews out there that we can look into. Some of it may reflect upon how Maxitrade conducts legitimate business and how its set of features and interfaces come into play to the benefit of the client.

The Conclusion on Maxitrade 

All information about the broker has been found from the MaxiTrade.com site and cross-checked with other online materials and research.  Bottom-line, if you have the capital, do give Maxitrade a try. The Maxitrade broker company is not a scam but it isn’t a great one either. Maxitrade is above-average at most. In this forex review, MaxiTrade is a legitimate company with better-than-average ratings overall and it certainly is not a scam.