Is MaxiTrade Scam or Legit Broker?
No, it is not safe to trade with MaxiTrade. MaxiTrade is owned by Strategy One Ltd., which is an offshore company registered in St. Vincent and the Grenadines.
- St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost being low it does not regulate forex trading. 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.
About MaxiTrade
| 🗺️ Registered in | St. Vincent and the Grenadine |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is MaxiTrade safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | GO Markets – licensed by ASIC in Australia |
What is MaxiTrade?
According to the website, MaxiTrade was funded in 2008, and Strategy One Ltd has earned the trust of the 2 largest expert organizations in the financial field: the Association of Russian Banks, and the Association of Regional Banks of Russia. Although this kind of information doesn’t mean the broker is regulated in Russia (which is actually the case with the broker).
- There is one more company behind the brand’s name, Spritecoms Ltd., incorporated in Dublin, Republic of Ireland. However, there is no connection between the mentioned companies (Strategy One Ltd and Spritecoms Ltd). Besides, neither of them is regulated in Ireland or any other country.
- Moreover, the Bank of Lithuania has warned against Strategy One Ltd., which means it is better not to deal with any broker, operated by this company:
Overall MaxiTrade Ranking
During our research we found regulation and safety issues with MaxiTrade, thus we do not rank positively MaxiTrade, based on our Expert Opinion with over 10 Years of experience in Forex Trading.
- MaxiTrade Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
| Ranking | MaxiTrade | XM | XTB |
|---|---|---|---|
| Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
| Is Broker safe? | No | Yes | Yes |
| Advantages | None | Education | Trading Instruments |
MaxiTrade Alternative Brokers
We revealed that MaxiTrade has a lot of issues connected with its safety and customer care. Thus, here are much better Alternatives to MaxiTrade with tight regulations and favorable trading conditions. We select Good Brokers and reliable options for your comparison below:
- Pepperstone – Broker with Good Regulation
- IC Markets – Excellent cTrader Broker
- InstaForex – Good for EAs Trading
Deposit & Withdrawal
With MaxiTrade making deposits and withdrawals is simple and quick. The broker offers multiple funding options, including Bank wire transfers, Visa and Mastercard payment cards, plus Skrill, Perfect Money, Neteller, tether, etc.
- The company might block an entrance to the private profile, suspend the trade activity on accounts, cancel the demand for input-output, or return money if the source of money or activity of the Client contradicts the Policy of money laundering and financing of terrorism.
- The company might prevent and block both deposits, and withdrawals by third parties of money from the customer account.
MaxiTrade Review Conclusion
We advise all investors and traders to avoid MaxiTrade and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and BlackBull Markets.
- Overall ranking and experience for MaxiTrade is Negative