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How thousands of Britons are at risk from ‘world’s biggest online scam’

However, while going through all the different account types we noticed that the minimum deposit for the start account is $250. The payment methods listed on the broker’s website are Bitcoin, Credit Cards, WebMoney and QIWI. Minimum withdrawal listed on the broker website is $50. Overall, we don’t see this whole setup as a friendly condition, especially for a trading beginner. For this reason, we advise our South African readers to only deposit with regulated and trusted brokers for added security and benefits.

There 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.

This isn’t legal to make sure that the demo account is offering higher profit than the real, paid accounts. And, many people are falling for these scams. They are offering a demo account. This is great.

On top of that some of the pages use details of legit businesses in an apparent attempt to defraud users that they are part of renowned financial institutions such as the Belgium KBC Group or HSBS. In the retail forex industry such scam pages are known as “clone websites”. Maxitrade https://maxitrade.online is an unregulated Crypto Currency broker, Maxitrade is an online Forex & Crypto Currency broker that is owned by Strategy One Ltd. Forex / CFD / Binary options - training, rating of brokers, online signals, strategies and robots. losing money rapidly due to leverage.

ForTrade happens to be a reputable Forex broker in England, that is licensed and regulated by FCA. Investors like their unique trading software, see here. One of the best features that Maxi Trade offers their investors are the free trading signals.

MT4 is one of the most reliable platforms for trading forex. And, Maxitrade is making use of MT4. This is a pretty decent setup, however, the trading conditions are terrible. Spreads are huge and commissions very high.

Maxitrade Reviews

MaxiTrade has a large number of financial instruments that makes it possible to work with quotes of precious metals and oil. As this is the case, we need to get acquainted with ratings compiled by various websites and analysts. Forex brokers, Saxo Bank, OANDA, and MaxiTrade can be cited as successful examples of operations in the financial market. Their online reputation attests to their legitimacy.

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I am a victim of this fraudulent company. I strongly recommend do not trade. Here traders have to be very careful. They must understand that the broker is not a financial advisor. While they might get general help and guidance from the broker, it is highly unlikely that the broker can or should give them recommendations for trading.

• Surprisingly enough, there is quite a handful of complaints online regarding Maxitrade.
• Usually, regulated brokers are not scams but there’s a grey area in this case because on one hand Maxitrade is registered with a financial watchdog but on the other hand, said the regulator is not known as feared supervision authority.
• On the other hand brokers, regulated by respectable financial institutions, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC), do guarantee the security of your investment, as among others, they are required to allow external audits, to file regular reports, to provide a negative balance protection to their customers, to keep their money in a segregated, protected form creditors account, to maintain some minimum operational capital and in some cases even to insure traders money.

We may receive compensation from the companies we write about. Always verify that the broker you choose to invest with, is licensed by your local financial regulator. What was your experience trading with Maxitrade? Please write your review in the comment section below. At first glance, this looks like a broker with good trading conditions and some form of regulation but there are some discrepancies between the spreads listed on the website and the ones that you are getting on the trading platform itself.

Along with this theres a phone number traders can dial to get in touch. In order to withdraw money from the broker, the turnover targets need to be reached. If the bonus accepted was up to $10,000, the turnover target (volume traded) was 10,000,000 or 1000x. This is insane,in the heyday of binary options, worst turnover minimums were around 30x.

The Forex market has been popular with traders for decades. Many of them, being professionals, managed to achieve serious profits from currency trading and other financial instruments. In different countries, regulators have their own approach to the Forex market, so it is not always fully regulated everywhere. Unfortunately, unscrupulous market participants are taking advantage of this.

And, Maxitrade isn’t one of the most trustworthy brokers out there. Not all brokers and offers are regulated in the United States of America. We don’t recommend, facilitate or encourage trading with products that are not regulated. FairForexBrokers.com Forex trading does not recommend any forex, crypto and binary brokers or exchanges to US traders besides NADEX, which is licensed by CFTC. Every trader is obligated to check the legal status in their respective jurisdiction on their own.

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Therefore, it became an offshore zone for shady forex brokers such as GoldFxTrading, AZ Trades and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines. Surprisingly enough, there is quite a handful of complaints online regarding Maxitrade. 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.

Most people get scammed after watching a video ad on one of the so called robo scam websites like Crypto Revolt and Bitcoin Evolution. There you will be promised fast and easy money with a minimum investment – and all you have to do is leave your e-mail and phone.

The system of account replenishment and profit withdrawal is highly convenient and is made clear to any trader. These actions can be done with credit cards, bank transfers, web-wallets, and the like through well-known global payment systems. When you are changing to the paid account, you will see that making money for real isn’t as easy as with the demo account.