Beware of MaxiTrade Scam – Read Our Review First!

February 23, 2020 – MaxiTrade Scam Owners EXPOSED! (Check below)

The online trading world is getting hotter and bigger with every day that comes. At the time of writing this, millions of people are stuck at home due to the Coronavirus, and many of them seek for new ways to make money online while at quarantine. One of those ways is trading cryptocurrencies and other trading assets online, and in this review, we’ll walk through one of the trading platforms on the rise – MaxiTrade.

MaxiTrade.com is a foreign exchange, i.e., Forex brokerage operating offshores in the Marshall Islands (a small country located between Hawaii and the Philippines). So, what do we actually know about this seemingly well-established forex and cryptocurrency trading broker? In our initial research, we’ve found out that it runs using the well-known MetaTrader 4 trading platform, the online platform Xcritical (Quant ROI Ltd), and the Xcritical mobile app. The MaxiTrade trading platform processes multiple withdrawal and deposit methods, and it offers traders a wide range of trading assets and instruments, including cryptocurrencies, currencies, commodities, shares, and bonds. So far, so good, right? Well, it doesn’t end with that.

So far, from these details, it does seem like quite a promising online trading broker – but that’s basically where the advantages end. When we started investigating this platform more in-depth, we’ve discovered some rather shady details about it. So, is MaxiTrade a scam or legit broker? We’ve broken down all the major details to uncover the truth about this offshore brokerage. So, without further ado, here’s our MaxiTrade review. Let’s dive in!

MaxiTrade scam exposed

The Key Points of This Scam

True enough, there are some redeeming qualities that we’ve discovered about MaxiTrade forex and CFDs (stands for ‘contract for difference’) broker. For example, it runs the user-friendly MetaTrader 4 and Xcritical trading platforms, and offers a wide array of highly-popular trading assets, presenting a supposedly promising environment to traders. From these characteristics alone, seems like they have managed to lure in unsuspecting online traders looking to gain profit from the craft.

Questionable Regulation Status

Whether you’re a new trader or already a skilled veteran, it still pays to be reminded of this one extremely important rule, that you simply cannot ignore: regulation bodies matter. A lot. They are in charge of keeping brokerages in line and imposing trading policies and regulations that look after the security of traders worldwide.

With that said, the MaxiTrade broker claims that it is regulated by the IFMRRC, which stands for the ‘International Financial Market Relations Regulation Center.’ During our research, we’ve found out that they are, indeed, watched over by this regulator. So what seems to be the problem with this setup? Well, the IFMRRC is not exactly a vigilant watchdog. In fact, they’re just about as good as the simple certificate of registration that they offer. For a predefined fee, every trading scammer and their affiliates can easily register an account under these guys’ so-called respected financial organization and claim that they are regulated. This is where MaxiTrade easily finds the mettle to claim that they have fulfilled the particular criterion of registration.

Does this make MaxiTrade a scam? Well, overall it’s up to you to decide for yourself, but their choice of regulatory body plus their suspicious location points to a whopping YES. Yet again – it doesn’t end with that.

MaxiTrade trading platform

Payment Processing Issue

While doing our research we also found out that MaxiTrade also deals with an external payment processor. This means that your money will be handled and processed by another company, aside from MaxiTrade. Unsurprisingly, this isn’t a fact that they easily divulge. You’d have to be very careful, read through the fine print, and also check the reviews of other users to figure this out.

Yet, the fact that your money still has to go through another external company, an unregistered one at that, is highly questionable. For example, check out this complaint, posted on the popular trading portal and forum forexpeacearmy.com:

Do not trust Maxitrade. They have 50,000 USD of my money and will not permit a withdrawal until I have signed over my account for them to trade exclusively for 6 months. I had a written agreement and taped calls which says otherwise but they just refuse to acknowledge and ignore my protests. They are registered in St Vincent and their T&C’s tie you in to St Vincent law. They operated my account via a company called Jupiter Ventures SRL based in Bucharest. They have a home-made affiliation with something called the FMRCC which doesn’t exist and they have withdrawn from something called the Financial Commission. They lied about being a licensed member of the Labuan FSA. I HAVE DEALT WITH Fabian Farbas, Will Johnson, Sam Matthews (real name Azhar). Their manager is called Lawrence Morgan +371 25 602 605“.

Is MaxiTrade Possibly a Scam?

OK, so if by now you still think that the MaxiTrade cryptocurrency trading platform is worth your money, then we might not have been clear enough. Is MaxiTrade a scam broker or legit? The purpose of creating this trading broker review was to fully-expose the little-known facts about it, so you’ll be able to make a clear decision before investing your hard-earned money in it. So, let’s go over the details again in short.

The first and most important factor that any trader, whether a newbie or veteran, should always consider is the licensure and regulation body that a brokerage adheres to. As specified in multiple sites and forums online, the Marshall Islands is a notoriously shady location to be registered in. There are virtually zero laws for traders imposed here, leaving many companies to do as they want. In short, misappropriation is a real threat that can cause you to lose a lot of money and never have the opportunity to recover it.

In addition to that, they operate on distinctive modus operandi that involves a so-called “senior account manager” who will shamelessly try to upsell their products and leave you unable to withdraw your funds in the end, after making a profit.

So, do all the mentioned-above qualify this online trading brokerage as a scam? To this, we respond with a resolute yes. Our advice: you’ll be better off investing your money with a broker that is fully-regulated and properly licensed. Stay safe!


MaxiTrade Scam – Cut The Crap

Related Companies

NameAddress
Maxi Services (Belize) Ltd5 Cork Street, Belize City, Belize
Maxi FX Service Ltd20 Lincoln, Tel Aviv, Israel
Maxi Services LtdSuite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines
Colewell Marketing Philippines IncMakati, Philippines
Tendo Marketing Ltd9 HaMasger or 20 Lincoln, Tel Aviv, Israel
Apachewell Ltd13 The Sycamores Clonslaugh Woods, Clonslaugh, Dublin, 13, Republic of Ireland 
Quant ROI Ltd116, Gladstonos, m. Kyprianou Tower, 3rd-4th floors – 3032 Limassol
Market Solutions LtdSuite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines
M G GLOBAL CONSULTING LTDSofia 1463, Triaditsa Region, 42 Shandor Petyofi Str., App.off. 
4
FAIRIPRISES LIMITED15 The Sycamores Clonslaugh Woods, Clonslaugh, Dublin, 13, Republic of Ireland
Platinum Consulting Ltd6 Andrey Nikolov, 245, Sofia, Bulgaria
Swissone Group LtdSuite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines
TLM LimitedSuite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines
22 Gresham St, London, United Kingdom
Day Dream Investments LtdTrust Company Complex, AjeltakeRd, Majuro, Marshall Islands
UP Services LTD4 Yako Katsarov, Complex Stoyan Zaimov, Block 69, Entrance B, Sliven 8800, Bulgaria
Odem House OÜMustamäe tee 163-38, Harju maakond, Mustamäe linnaosa, Tallinn, 12913 Estonia
Marlay Corp LTD4 Hanifa Alasgarov, Baku, Azerbaijan
Inter Media LtdSuite 305 Griffith Corporate Center, PO Box 1510, Beachmont, Kingstown, St. Vincent and Grenadines

Related People

NameJobBirthdate
Yakov LivshitsCEO at Maxi Services
Shaltiel MadmoniUnknown
Michael PeresCEO at Maxi FX Service Ltd

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Got Scammed? How To Get Your Money Back?

We know the frustration you feel after being scammed. At a certain point, you feel lost, and you have no idea what to do next. It’s a traumatic experience. What you’re feeling is valid and understandable. However, you don’t have to dwell in that dark place for a long time.

All hope is not lost as there are various ways to get your stolen money back. Yes, you read that right. If you have been scammed, you can apply these tips to increase your chances to retrieve your money from those shameless scammers.

If you paid using a credit card, you can use chargeback to request a refund from your bank card provider. In addition, you can also use chargeback if you paid using a debit card. A word of caution, though, there are requirements before this applies, so know them first.

You can also file a complaint about the PSP (Payment service provider) and demand for reimbursement. If you’ve been scammed and the banks involved are not doing what they are supposed to do, you should be refunded after the fraud happens.

But if nothing still works at your advantage, and you need further assistance, you can contact us through our email, [email protected]. We will help you in any way we can. Don’t worry. We’ve got you covered!

2 Replies to “Beware of MaxiTrade Scam – Read Our Review First!”

  1. I also fell a victim to this scam broker. They kept on asking me to deposit more money. Then they stopped picking up my calls and doesn’t reply my mails. After loosing more money. Finally I have gotten back all my lost fund and bonus from CFD stocks. They stocked all my trading capital and deprived me access into my account for over two months now after I’ve invested $70, 000 with them. Thought I was not gonna see this day, but as God may have it, today I’ve got back all my money for real with the help of professional. Richard Williams! I’m happy to share my experience
    If you’ve been locked out from logging into your binary option trading account or you are unable to make withdrawal from your broker account, maybe because your broker manager is asking you to make more deposit before you can place a withdrawal and you need my assistance, kindly get in contact with me via my email address:[email protected], and Ms [email protected] ,I will guide you on steps to take to regain access to your account, make withdrawal freely and easy, as well as recover all your lost funds in reality.

  2. its all a scam, i traded with different brokers, most of them disappear when I make withdrawal request, some of them will try to convince you not to withdraw and instead invest more while others will actually allow you withdraw a little amount so they can build your trust and after that they begin to make large requests. i lost a lot to these fraudulent brokers, i was depressed for months until i was recommended to a Binary options trade funds recovery expert Mr Gary Wilson when i met them i didn’t believe they could get back my money because i have been scammed a lot already and didn’t know what to believe, but my gut feeling told me to give it a try and i did, feel free to contact them via their email address: [email protected], and they will help you to claim back your lost investment from your scam broker, i was obligated to recommend them for the good service which they offered to help my issue with my broker.

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