Score

1.32 /10
Danger

MAX FOREX

The Virgin Islands

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Time Machine
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Score

Regulatory Index0.00

Business Index5.55

Risk Management Index0.00

Software Index4.00

License Index0.00

Time Machine
Website

Licenses

No valid regulatory information, please be aware of the risk

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Warning: Low score, please stay away!
Previous Detection : 2024-12-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

MAX FOREX · Company summary
MAX FOREXReview Summary
Founded2021
Registered Country/RegionCayman Islands
RegulationSuspicious Clone
Market InstrumentsForex, Commodities, Indices, Stocks, Cryptocurrencies
Demo AccountFree demo with $10,000 virtual funds
LeverageUp to 1:1000
SpreadAs low as 0.6 pip
Trading PlatformMetaTrader 5
Min Deposit$20
Customer SupportPhone: +852-31100709
Email: cs@max-forex.cominfo@max-forex.com
24/7 Online support
Physical Address: 3rd Floor Ellen Skelton Building, 3076 Sir Francis Drake Highway Road Town, Tortola, British Virgin Islands

MAX FOREX Information

MAX FOREX is a broker registered in the Cayman Islands, offering a variety of trading instruments, including Forex, commodities, indices, stocks, and cryptocurrencies. Traders can choose from 3 different account types, or a free demo account with $10,000 virtual funds. The broker provides leverage up to 1:1000 and supports the MetaTrader 5 platform for trading. The broker is regulated by ASIC and VFSC, and the minimum deposit requirement is $20. The company is based in the British Virgin Islands.

MAX FOREX Information

Pros and Cons

Pros Cons
Diversified trading productsCompany information in trading contract is different from the broker
High leverage
Demo account available

Is MAX FOREX Legit?

It is clear that MAX FOREX was registered in 2021, and its current status is Suspicious Clone, which is insecure.

Is MAX FOREX Legit?
Is MAX FOREX Legit?

What Can I Trade on MAX FOREX?

MAX FOREX offers traders the opportunity to trade forex, commodities, indices, stocks, cryptocurrencies.

The broker supports trading in 32 currency pairs, such as USD/CNY, AUD/CAD pairs; 11 types of commodities, such as coffee and cotton; 14 indices, such as Dow Jones 30, China 50, SP500; and some large listed company stocks, such as Apple, Amazon, etc.

Tradable InstrumentsSupported
Stocks
Forex
Funds
Bonds
Options
Futures
Derivatives
Structured Products
CFDS
Cryptocurrencies
Precious metals & Commodities
Indices
What Can I Trade on MAX FOREX?

Account Types

MAX FOREX offers a total of 3 different types of accounts to traders -ECN Account, Hight Leverage Account and Islamic Account. Among them, the leverage ratio of high leverage accounts can reach 1:1000, but the spreads of such accounts are also relatively high. Meanwhile, we can also note that Islamic accounts cannot earn or pay interest.

Account TypesECNHigh LeverageIslamic
Base CurrencyUSDUSDUSD
Leverage1:100 / 1:2001:10001:100 / 1:200
Minimum Deposit$50$50$50
Negative Balance Protection
Spread On All MajorsAs low as 0.6 pipAs low as 1.0 pipAs low as 0.6 pip
Commission
Overnight InterestCharge or payCharge or payNone
Max Lot For Per Order202020
Min Trade Volume0.010.010.01
Margin Closeout Level50%(weekday)100%(weekend, effective 30 minutes before close)5%(weekday)500%(weekend, effective 30 minutes before close)50%(weekday)100%(weekend, effective 30 minutes before close)
Max Size For Position100100100
Execution QualityExecuted in less than 1 secondExecuted in less than 1 secondExecuted in less than 1 second
Multilingual Customer Support
Free Regular Trading Strategy

MAX FOREX Fees

MAX FOREX claims that only Islamic account will be charged commission. All three account types have spreads, but high leverage accounts have the highest spreads. Another point is that Islamic accounts do not have overnight interest, but the other two types of accounts do.

Trading Platform

MAX FOREX's trading platform is MetaTrader 5, which supports traders on the web and mobile.

Trading PlatformSupported Available Devices Suitable for
MetaTrader 5Web, MobileBeginners and Experts
cTraderWeb, Mobile
Trading Platform

Deposit and Withdrawal

Investors are able to deposit through the methods including but not limited to the following options:

1. Online Banking Transfer - Fund will arrives within 10 minutes approximately;

2. Mastercard - Fund will arrives within 10 minutes approximately;

3. Mobile Banking Transfer - Fund will arrives within 10 minutes approximately;

4. Cryptocurrency Payment - Fund will arrives within 10 minutes approximately;

Note: Some of the above withdrawal methods are only applicable to designated countries or regions, and the specific time of arrival is subject to the processing speed of your bank.

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