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Is Maxitrade a scam broker?
MaxiTrade is another unregulated broker offering its customers mainly cryptocurrency trading through the MetaTrader4 platform. According to its official website, the company was founded by Day Dream Investments Ltd. If you are eager to know whether MaxiTrade is a legit or a scam company, please read through the article fully and come to a conclusion yourself based on the facts presented below.
Apart from the founding company name, there is very little information about its licensing etc. There is only a support email address and phone number provided for customers to post their grievances and queries. This could prove to be a major deterrent for any experienced trader to invest their money on the website.
MaxiTrade offers investors with five different trading accounts to choose from including:
- Start – $250 Minimum Deposit
- Silver – $5000 Minimum Deposit
- Gold – $10,000 Minimum Deposit
- Platinum – $10,000 Minimum Deposit
- VIP – $10,000 Minimum Deposit
Customers choosing these account types are eligible to access their library containing free educational and analytical materials on trading. There is also an introduction to the platform provided to newcomers. People opting for the VIP plan are eligible for a free review of their trading strategy with a financial expert upon request. VIP members are also provided with access to hedging tools.
MaxiTrade also welcomes newcomers to the platform by providing 100% co-funding, if they make an initial deposit within three days after signing up. New members are also allowed to access their courses on trading at their online academy along with daily tips and suggestions from expert traders.
Another thing we noted with MaxiTrade is their spreads, which seems to be very attractive on their demo accounts. But we still don’t know it is the same with live accounts as we don’t have any details about spreads on their website. MaxiTrade offers an online trading platform along with an XCritical app for smartphone users willing to trade while on the move.
Is MaxiTrade Legit or Scam
Even though MaxiTrade offers an interactive website and provides the MT4 trading platform for its customers, we still cannot vouch for its integrity as it is an unregulated broker. Apart from few details, there is not much information about the spreads, the leverage offered and where it is licensed etc. Hence, we would recommend people to stay away from these unregulated brokers for their good.