Minimum Deposit: $200
Maximum Leverage: 1:1000
MaximusFX was founded in 2017 and is one of the forex brokers that offer online trading services. However, we can not say that it has shown a successful development over time. After about 2 years, the official website still has very few visits. Well, how are the other conditions?
If you’re reading this MaximusFX review, you’re probably thinking about opening an account with this broker. However, I strongly recommend that you read this detailed review before you open an account. What are account types and trading conditions like spread,maximum leverage, minimum deposit offered by Maximus FX? You can find detailed answers to all these questions. You can also write in the comments section below this article if you have a problem. I will answer as soon as possible.
If you’re ready, let’s start.
One of the most important problems of newly established brokers is regulation. Because it is not easy for these brokers to obtain licenses from reputable regulators. It is necessary for them to have a very strong financial structure. Thus, the likelihood of encountering undesirable situations such as bankruptcy of the broker will be very low.
However, newly established brokers have to choose relatively less reputable regulators. MaximusFX is a brand of Maximus Markets Limitedand this company is registered in Saint Vincent and the Grenadines.
According to the company’s claim, the broker is licenced and regulated by the Financial Services Authority (FSA), local authority found in this country. However, the FSA issued a warning and said that no regulatory or authorization process has been done for international companies. So the regulation for MaximusFX is a bit shady.
Account Types in MaximusFX
There are different account types offered by MaximusFX: Mini, Standard, VIP and Islamic. You can view the features of the account types in the table below.
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Average spreads|
|Mini||$200||0.01 pips||1:1000||From 0.7 pips|
|Standard||$1000||0.01 pips||1:500||From 0.5 pips + $16 commission|
|VIP||$25000||0.1 pips||1:100||From 0.2 pips + + $16 commission|
|Islamic||$50000||0.01 pips||1:500||From 1 pips|
The minimum deposit for the standard account type is $ 1000, which is quite high. Because the average of the forex industry is $ 100. Even with reputable brokers like FXTM or XM, the minimum deposit is $ 5. By clicking on the button below you can see reputable brokers with a low minimum deposit.
I can say the spreads are on average. However, another point to note is the margin call and stop out levels.
I can say the spreads are on average. However, another point to note is the margin call and stop out levels. The margin call level is 100% and the stop out level is 60%. Investors who do not pay attention to these levels may experience unplanned losses. In addition, the minimum trade size of the VIP account type is 0.1 lot which corresponds to 10,000 pieces.
MaximusFX offers a wide variety of deposit and withdrawal methods. As with all other brokers, a wire transfer and credit card is also available for this broker. Of course, the fastest method for funding or withdrawing is my credit card. You can also choose Neteller and Skrill from popular e-wallet systems.
Commissions and fees1.0/10
Platform & Tools2.0/10
- Unregulated broker, probably scam.
- Spreads are not competetive.