If you are looking to read MaxGlobalFX review, you are in the right place. Is This maxglobal.com broker a scam or legit? Let’s read complete review to know about the platform before trading.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is MaxGlobalFX?
MaxGlobalFX located at MaxGlobal.com is an offshore brokerage company with lot of promises for forex traders . The company is incorporated in St Vincent and Grenadines.
The brokerage presents variety of account types like MICRO: 1 micro lot is $1,000, MINI: 1 standard lot is $10,000 and STANDARD: 1 standard lot is $100,000.
In addition, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. More so, it presents a zero spread difference in Buy/Sell.
How Does MaxGlobalFX Broker Work?
MaxGlobalFX deposit is provided as $1000 based on the account type. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
The broker claims to allow deposits and withdrawals via credit cards, multiple electronic payment methods, bank wire transfer, local bank transfer and cryptocurrencies.
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
MaxGlobalFX does not charge transaction fees, but the Terms of Use say otherwise. MaxGlobalFX only allows one free transaction per month, after which it charges a fee of 30 USD for each withdrawal.
Does MaxGlobalFX Have Trading Platform?
MaxGlobalFX offers the industry standard trading platform MetaTrader 4 (MT4). But our attempts to register an account were unsuccessful as MaxGlobalFX did not send the required confirmation email. Because of this, we did not receive credentials to log into the trading server.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
As for MaxGlobalFX leverage, nothing is said. Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Things You Should Know about MaxGlobalFX.com Regulation
First of, MaxGlobalFX is based St Vincent and Grenadines (SVG). Because of the lack of regulatory norms and oversight, SVG is one of the favourite bases of operations for shady brokers. While this country has a financial regulator, unlike other offshore areas, it does not regulate the activities of forex and CFD brokers. See yourself —
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
MaxGlobalFX Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Verdict:
MaxGlobalFX located at MaxGlobalFX.com disguising to be a trustworthy trading broker, howbeit, that presentation cannot be ascertained. By all appearances, we would advise traders to steer clear from this broker as it likely a platform run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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