MaxiMarkets Review
- Excellent selection of trading platforms
- Wide array of tradeable assets
- Good customer support
- Good reputation
- Not licensed or regulated
- Lacking some key information
- High initial deposits
MaxiMarkets is an established online trading brokerage who is emerging as a leader in the global financial markets. The brokerage provides their traders with best in class trading tools, sophisticated trading technology, and a variety of tradeable assets so that their clients can maximize their profits from trading. MaxiMarkets is owned and operated by Maxi Services Ltd. and was founded in 2008 as a small time trading brokerage. Since their establishment, MaxiMarkets has grown rapidly and now enables both retail and institutional clients from around the world to trade forex, crypto, commodities, stocks and indices. The brokerage is based out of St. Vincent and Grenadines with their headquarters located at Maxi Services Ltd. Suite 305 Griffith Corporate Center, PO Box 1510 Beachmont, Kingstown, St. Vincent and Grenadines. Therefore, MaxiMarkets is an offshore trading brokerage and has yet to become licensed or regulated by any reputable regulatory authorities. While this raises some concerns, it doesn’t necessarily mean that MaxiMarkets cannot be trusted. To find out if MaxiMarkets can be trusted and if they provide competent and reliable trading services, we conducted an in-depth review where we analyzed all aspects of the MaxiMarkets brokerage and presented the results here for your review.
Trading Platform
As with most online trading brokerages that facilitate the trading of forex, MaxiMarkets provides their traders with the entire suite of sophisticated MetaTrader 4 (MT4) trading platforms. Traders can download the MT4 platform to their desktop computer, use the MT4 Web Terminal, or trade on the go with the downloadable MT4 mobile trading application. All of the MT4 trading platforms mentioned here are very advanced and intuitively designed which make for a seamless trading experience for both beginner and experienced traders. The platforms feature an advanced charting package that comes complete with numerous built in technical indicators, loads on drawing and analysis tools, and a variety of chart types, and time frames. The platforms also allow traders to conduct one click trading directly from the charts and does so with lightning speed for fast execution times. Also, traders interested in automated trading can use Expert Advisors (EAs) to automatically identify trends and trade based on the algorithmic code implemented into the platform. All in all, the MT4 trading platforms are highly capable and more than sufficient for nearly every type of traders needs.
In addition to the suite of MT4 trading platforms described above, MaxiMarkets also features their very own proprietary web-based trading platform. This proprietary platform accommodates the needs of beginner traders as it is very simple and easy to use. The platform features a beautifully designed trading interface with basic yet sophisticated trading functionality to effectively analyze the markets and trade.
Exchange Markets
MaxiMarkets is a very diverse online trading brokerage as they provide their clients with a wide array of financial assets to trade across the global financial markets. For instance, clients can trade forex, crypto, commodities, stocks and indices. See these markets overviewed below.
Forex
- 78 currency pairs
Cryptocurrency
- 16 cryptocurrency assets
Commodities
- Crude Oil and Brent Oil
- Natural Gas
- Gold
- Silver
- Copper
Stocks
- 60 tradeable stocks
Indices
- 13 of the most popular global indices
Fees and Commission
The fees and commissions imposed on MaxiMarkets traders are very reasonable and even competitive with the industry standards. The fees do vary greatly depending on the type of trading account the client has. The different trading accounts are based primarily on the amount of the traders initial money deposit. Accounts with higher deposit amounts benefit from lower trading fees. See the different accounts and associated spreads below.
Mini Account
- Average spreads of 2.5 pips
- Minimum deposit of $500
Standard Account
- Average spreads of 2 pips
- Minimum deposit of $5,000
Gold Account
- Average spreads of 1.7 pips
- Minimum deposit of $10,000
Platinum Account
- Average spreads of 1 pips
- Minimum deposit of $25,000
ECN Account
- Average spreads of 0.5 pips
- Minimum deposit of $50,000
Security and Fairness
While MaxiMarkets is not a licensed or regulated online trading brokerage, this has not hindered their ability to provide safe, secure, and fair online trading services. MaxiMarkets has been competently providing viable online trading services since 2008 and employs the latest and greatest security measures for keeping their client funds and personal information safe. Their online trading platform and trading accounts are protected by rigorous firewalls and SSL encryption technology. As well, all financial transactions are handled by level 1 PCI certified payment service providers. Overall, traders can rest assured that MaxiMarkets is secure and fair.
Support
MaxiMarkets provides their customers with excellent customer support that’s available 24 hours a day, 5 days a week. Support representatives can be reached via email, live chat, and telephone. Additionally, customers can receive support via the comprehensive trader center that comes complete with tutorials, training videos, an economic calendar, and other helpful and educational content. One unfortunate aspect of MaxiMarkets is their lack of FAQ page or forum page where traders can find answers to key questions.
Conclusion
The MaxiMarkets online trading brokerage has built up a viable reputation over the years and is now well established as a reputable online trading brokerage in the financial trading industry. Traders from all over the world have the opportunity to trade a wide variety of financial assets with some of the best trading platforms in the world. Also, the brokerage provides competitive fees and commissions as well as favorable trading conditions. The customer support is pretty good as well, and so is the broker security. All in all, MaxiMarkets is a viable online trading brokerage.
MaxiMarkets Q&A
The following are the common questions that customers inquired about MaxiMarkets.
Is MaxiMarkets regulated?
No, it is not regulated.
Is MaxiMarkets a scam?
No, MaxiMarkets is a legit broker and the provide reliable and reputable trading services.
Where is MaxiMarkets based?
MaxiMarkets is based at Maxi Services Ltd. Suite 305 Griffith Corporate Center, PO Box 1510 Beachmont, Kingstown, St. Vincent and Grenadines.
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