Before the beginning of any investment with brokerage services, it is highly recommended to read some online reviews about them. Today we have prepared a Maximarkets review to tell you whether this website can be trusted or not.
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Is Maximarkets Safe?
Maximarkets is held by a company named “MAXI Platinum Limited” that is located in Bulgaria. It works since 2008 and is mostly targeted for Russian-speaking traders. At the moment, the broker is not regulated. However, on the Maximarkets site, it is stated that the regulatory requirements will soon come into effect.
Although there are no regulations for this broker, the company is a member of the independent External Dispute Resolution (EDR) Financial Commission (FinaCom). Other members here are Forex, CFD, and binary options brokers as well.
What Does the Broker Offer?
At first, the minimum deposit that a trader can make is $500. At this point, users can have a minimum trade size of 0.1 lot, maximum leverage of 1:400, and the average spreads are 2.5 pips. There are five trading account levels, each with their benefits.
Various payment systems are used for top-ups and withdrawals, including WebMoney, Visa, MasterCard, Western Union, and other services.
At Maximarkets, it is possible to trade all kinds of assets, including currency pairs (forex), commodities, spot metals, etc. Everything is traded on the MetaTrader 4 platform. The versions are offered for desktop, web, and mobile devices. The platform does not differ from any other brokers and includes all the features required (charts, technical analysis tools, different orders, hedging, etc.).
Just like every popular broker, Maximarkets offers some promotions for its users. There is a referral program, deposit bonus for new traders, and a 100% insurance if you trade on the news. These can enhance your profits and even cut your losses if something goes wrong.
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Maximarkets Customer Reviews
It is possible to find plenty of Maximarket customer reviews on the web. There are all kinds of them, both positive and negative. In the example below, user JSubaru mentions that the trading platform is quite comfortable, but the minimum deposit is too high for newcomers.
Some people only point out the negative when reading reviews. When they see the word “fraud,” they automatically think, “Sure, Maximarkets fraud” without paying much attention to the context. An example of such a review is from the user Kirill who mentions that he was surprised in a good sense by how quickly the manager contacted and assisted him during the whole process.
Also, user ostapskiv writes that he really likes the execution of orders and the way the terminal works. He points out that there also is a wide range of tools.
To sum up, Maximarkets seems to be a decent brokerage service that can be trusted. If you search for real reviews, it is possible to see that most traders are truly satisfied with the service.