MaxiPlus Trade Broker Review
MaxiPlus Trade makes the claim that starting to trade will lead to a new life, but it makes no promises in support of that claim. MaxiPlus Trade broker merely speaks, not being regulated and according to ESMA, MiFID, and other standards. As always, there must be a problem when talking prevails over acting.
Find out why trading with this specific broker is not advised by reading our review.
Broker status: Unregulated
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: FCA (UK)
Owned by: Seabreeze Partners Ltd
Headquarters Country: Commonwealth of Dominica
Foundation year: 2020
Supported Platforms: Web trader
Minimum Deposit: $250
Cryptocurrencies: Yes
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:300
Free Demo Account: No
Accepts US clients: No
MaxiPlus Trade Regulations and Security
The infamous Seabreeze Partners Ltd owns MaxiPlus Trade. If you’ve heard of other companies with similar name, you may have come across ProfitAssist, InvestFlow, or Bid Broker Stocks. These are all on at least one Tier 1 regulatory body’s blacklist, indicating the type of company we are dealing with.
We thus strongly warn you to steer clear of the firm because it is situated in the Commonwealth of Dominica and has no regulations at all.
Find a brokerage with a Tier1 license, such as the FCA, ASIC, or BaFin, if you wish to start trading.
Warnings From Financial Regulators
MaxiPlus Trade is unsurprising to be on the list given that Seabreeze Partners Ltd. has already been reported as having been blacklisted in various nations for a number of distinct brands. The UK FCA accused MaxiPlus Trade of being a clone corporation of an FCA-regulated company, MAXIS GBN, in an official warning that was published on their website.
Employees of the broker allegedly made an effort to persuade clients that they are all covered by the same licensing as a respectable business.
Avoid falling for the well-crafted MaxiPlus Trade narrative and be on the lookout for scams!
Fund Withdrawal Issues
Whether a broker is regulated or not, if withdrawals are not permitted, it indicates a severe problem. However, if it has a license, the license provider would typically see to it that clients are reimbursed from the compensation fund. You have no assurances for your money because MaxiPlus Trade is an uncontrolled, offshore company.
Nobody could help with the situation, which resulted in several complaints from traders who were frantic to get their money back.
Traders About MaxiPlus Trade Scam
When it comes to MaxiPlus Trade, traders are concerned about a variety of issues. To begin with, the firm simply offers a Web trader, which is hardly a safe platform. Because of this, there are numerous reports regarding money disappearing from trading accounts.
Additionally, the leverage is excessive; consumers accustomed to controlled trading environments may struggle to identify a suitable investment strategy when presented with leverage offers of up to 1:300. The major problem is that withdrawals are practically difficult, as was already indicated.
Are you having trouble successfully requesting a withdrawal from your broker? Tell us about it and add a comment.
