Note: Max Global FXs official site - https://maxglobal.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
General Information
What is Max Global FX?
Max Global FX is a financial brokerage firm registered in Saint Vincent and the Grenadines, offering trading services in various financial instruments, including forex, cryptocurrencies, commodities, and indices through the MetaTrader 4 (MT4) platform. However, Max Global FX currently has no valid regulation, so investing with this broker is risky.
Pros & Cons
Is Max Global FX Safe or Scam?
Based on the information provided, the fact that Max Global FX does not hold any valid regulatory licenses and their website is currently unavailable.
Market Instruments
Max Global FX offers a wide range of market instruments for trading. Clients have the opportunity to trade in various currency pairs, allowing them to take advantage of fluctuations in the foreign exchange market. Additionally, Max Global FX provides access to cryptocurrency pairs, enabling traders to participate in the growing cryptocurrency market. For those interested in diversifying their portfolio, the platform offers commodities such as gold, silver, oil, and more.
Furthermore, clients can trade equities, providing them with the opportunity to invest in individual stocks of renowned companies. Lastly, Max Global FX offers index CFDs.
Accounts
Max Global FX claims to offer 3 types of trading accounts, namely MICRO (1 micro lot is $1,000), MINI (1 standard lot is $10,000) and STANDARD: (1 standard lot is $100,000). The minimum initial deposit required by Max Global FX is quite low. It is $1 for MICRO, $10 for MINI accounts, and $100 for the Standard accounts. Although this sounds encouraging, given the fact that this broker is an unregulated one, traders are not advised to start real trading here.
There is no expiration date for demo accounts at Max Global FX, so you can use them as long as you like. If a demo account has been inactive for 90 days since the last login, it will be closed. You can, however, open a new demo account at any time. Demo accounts cannot have more than five active ones at a time.
Leverage
The maximum trading leverage offered by Max Global FX is up to 1:500.
Spreads & Commissions
Although Max Global FX claims that it offers variable spreads that can be as low as 0 pips, no re-quoting and its clients are given directly the market price, it does not specify detailed spreads on particular instruments. All charging no commissions.
Trading Platforms
Max Global FX offers its traders the industry standard forex trading platform MetaTrader4 (MT4), available for desktop, as mobile trading applications and a web terminal that runs directly in most modern web browsers without the need to download or install any additional software. The MT4 platform is known for its user-friendly interface, advanced charting capabilities, extensive range of technical analysis tools, and the ability to execute trades efficiently.
Deposits & Withdrawals
Currently, traders can choose from the following options to deposit and withdraw funds: credit cards, e-payments, bank wire transfers, local bank transfers, and other payment methods (including BTC). You can deposit money in any currency and it will be automatically converted into the base currency of your account, by Max Global Fx prevailing inter-bank price.
Max Global FX minimum deposit vs other brokers
Notably, the broker does not charge any fees or commissions for deposits or withdrawals. It covers all transaction fees (with bank wire transfer for amounts over $200). All deposits are instant, except for the bank wire transfer. All withdrawals are processed in 24 hours on business days.
See the deposit/withdrawal comparison table below:
Customer Service
Traders can reach out to the customer support team via email at admin@maxglobalfx.com or online messaging. Additionally, Max Global FX maintains a social media presence on platforms like Twitter and Facebook, allowing traders to stay updated with the latest news and developments. The company's address is Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, ST. Vincent and Grenadines VC0120.
User Exposure on WikiFX
On our website, you can see that some reports of severe slippage and unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
2023-02-27 11:57
2023-02-15 17:29
