Maxitrade Forex Broker Review
Maxitrade was founded by Market Solutions Ltd., and registered in St. Vincent and the Grenadines. This company has been a part of the trading industry for over ten years, and has grown so much since. It trades currencies (forex or foreign exchange) and CFDs, but mostly the company focuses on cryptocurrencies.
According to the maxitrade official site, it offers a 200:1 leverage for forex and a 50:1 leverage for cryptocurrencies. Aside from that, maxitrade also makes it their priority that traders get the best of what they paid for, so they offer traders the opportunity to personalize their trading account. MaxiTrade offers trading with currencies, indices, commodities, stocks, and cryptocurrencies.
Maxitrade accepts many types of deposit of withdrawal methods: credit card, debit, wire, and electronic wallets. According to the site, this brokerage only works with trusted European banks for security purposes. This company is also partnered with the Financial Markets Association “Council for Professional Qualifications Development” and the National Council of Financial Market. A lot of maxitrade customer reviews have shown positive responses to the platform and praised it for its efficiency in trading.
The Trading Platform
MaxiTrade has a user-friendly interface with an excellent design. The platform can execute trades at ease with a full report of the breakdown of the trade. This is convenient for professional traders as it gives them full details of their transactions so they can check if anything isn’t right. For beginning traders this serves as an educational material that they can learn from regarding the market, aside from a full transparency of their transactions.
The platform offers each trader a personal financial analyst or a maxitrade broker to coach the trader in reading the market movement and determining good trading opportunities. All traders have the liberty to track their money from time to time with the use of their MaxiTrade logins. An additional feature shown in the Maxitrade official site is the mobile trading platform, where traders can open and close positions wherever and whenever within the market hours.
Maxitrade offers two trading platforms that the traders can choose from; first is the MetaTrader4. All traders know what the MetaTrader4 is. It is the most established trading platform in the industry today, being used by some of the most trusted forex brokers in the world. Throughout the years, it has become the standard of trading platforms in the market. It is reliable and handy with many trading tools to utilize by the trader.
The second trading platform the MaxiTrade official site offers is Xcritical. This trading platform is less popular when compared to MetaTrader4 but it offers fairly the same advantages. The Xcritical trading platform offers numerous trading tools with a simplified user interface. It gives the trader the opportunity to explore different trading tools to come up with their own strategy.
Both these platforms are offered by Maxitrade, as shown on their official website, maxitrade.com.
On maxitrade.com, a detailed list of the types of accounts and its perks are indicated for everyone to see. They have five account types, namely:
- Start Account ($250-$3,000)
- Silver ($3001-$10,000)
- Gold ($10,001-$50,000)
- Platinum ($50,001-$100,000)
- VIP ($100,001+)
With the demo account, exploring the different types of trading and of securities is made more accessible. Here, the trader is given ample time to study the market and learn when to take good trading opportunities by evaluating the price chart. As shown in the maxitrade official site, the platform offers numerous financial instruments for the trader to choose from. This gives them the opportunity to trade with commodities such as oil and precious metals.
According to the official site, MaxiTrade brokers aim to be reliable, up-to-date, and available to everyone. It is an innovative broker that operates on modern platform, which aims to meet all criteria and functionalities of a broker that offers traders and investors a comfortable trading experience.
Among MaxiTrade’s functionalities is that it has simplified conditions for deposits and withdrawals. This broker does not charge any type of monthly fee or ask for extra commission for operations. The MaxiTrade brokers or financial experts are also competent and reliable, who offer round-the-clock support for the clients.
Is Maxitrading Scam?
Despite positive responses to this brokerage, there are still some maxitrade reviews that claim of maxitrade scam or maxitrade fraud. Somehow, these forex reviews are also related to the thinking that forex is a scam. Here are our thoughts on why forex is a scam for some people.
Some traders out there might have experienced losses they did not expect, or perhaps too big of a loss that they thought it was a deliberate plan to take all of their money, then immediately blame it on the brokerage company. However, what they might have possibly missed, is that forex is a gamble. This is usually explained by brokers to clients as soon as they have created an account with them, to give them a disclaimer and a heads up on how the forex market actually works. In forex, there is no guarantee of anything, as much as there is no guarantee of luck. It must be noted that there are possibilities of profit just as much as there are possibilities of losses.
In forex, trading takes in a lot of factors. There is the market, the price movement, volatility, momentum, and even the hours which you choose to trade. Prices fluctuate all the time and if you are not careful enough, you could lose your position in a trade. There are times when a trader’s bad trading decisions amount to large losses, however this does not automatically mean the brokerage company is a scam, but rather a simple case of bad trading. This might be found in forex reviews as among the reasons of why forex is a scam for some traders.
Some maxitrade reviews have also noted that maxitrade cheats or that maxitrade lies, however most of these negative reviews seem to be similar to other negative reviews found on other websites. It could possibly be only one article adapted to different sites to deliberately spread negative maxitrade reviews. Some of these articles are also done in the guise of maxitrade customer reviews, despite looking similar to other sites who also claim to be writing maxitrade customer reviews.
If indeed maxitrade is a scam and not an honest broker, then it would come as a shock that Maxitrade offers the MetaTrader4 platform, seeing that many reviews claim that maxitrade cheats or that maxitrade lies to their traders. However, MetaTrader4 has always been trusted by traders worldwide so we don’t see why it would allow itself to be offered by a sketchy broker.
Forex reviews on the internet do not encompass all factors when it comes to trading forex and even the brokerage itself. Forex is a risky gamble and all brokerages have their own flaws. It is only natural that traders give positive and negative reviews to brokerage companies, especially that it comes from a personal experience. To be a good trader means to be able to find the perfect broker for your trading abilities and strategies, so you must also know how to spot a good, constructive review from a rash one that could possibly be disguising as customer reviews but which main objective it to hurt competition.