Maxis Investments Review: Untrustworthy Firm

Maxis Investments is an online regulated broker based in the UK. Investors using this platform can trade in commodities, forex, stocks, and ETFs. Although this broker is regulated, there are things we found unsettling, the major one being its mystery. The broker withheld lots of material information, making us question how it was licensed in the first place.

 Due to low commissions and costs, the forex market is widely accessible to investors. But before you trade, be sure you have a solid grasp of the forex market and how to behave in it. Some traders and investors have an incredible opportunity to wager on the exchange rates between major currencies when they invest in foreign currencies.

Like any investment, there are risks and rewards in forex trading. You can consider all of your options before making a choice. Forex trading offers enormous returns if you take the time to learn it thoroughly and trade frequently. The potential for substantial financial gain is the key allure for many investors. However, note that such gains only happen when dealing with licensed brokers like Maxis Investments.

This review shares more about the broker, especially why we have reservations about it, despite being a valid forex broker. Importantly, we have included the bare minimum standards to which you should hold this broker and others. Read on.

Maxis Investments claims to have been founded in 2005. However, the whois database indicates that the broker registered its domain on 19 October 2011. It is unclear why the broker waited six years to register its domain.

According to the broker, there are three main service categories. These include safekeeping and administration, brokerage services, and investment advisory services. Maxis Investments provides sovereign Eurobonds, equities, global Eurobonds, commodities, and forex currency pairs as part of its brokerage services.

Some benefits investors in this platform enjoy include qualified and seasoned investment advisors, a culture of integrity, competitive commission structure and pricing, and a broad spectrum of products. Additionally, traders from the Asian market get order-based execution. Likewise, more experienced investors access the capital markets throughout the week with real-time electronic trading platforms.  

Maxis Investments Contact Details

Maxis Investments is in the UK, as revealed by its corporate address. This address matches the one we found on the FCA register. This proves that the broker operates in a heavily regulated market, which is good news for investors.

Moreover, the broker has provided telephone and email addresses for customer inquiries. This is a plus for investors, who can get instant access to urgent assistance. Since there is no option for registering, if you want to invest with the broker, you should contact it first.

Deposit & Withdrawal Rules

Absolutely no payment information is provided. The fact that Maxis Investments omits the most crucial information is daunting. How does Maxis Investments intend to draw new clients to its offerings without a registration/account creation option? Also, how can other people understand what Maxis Investments has to offer?

Although the deposit methods are unspecified, we anticipate they will feature conventional (credit card, bank/wire transfers) and, probably, digital payments. This is usually the case with regulated brokers. Not so the scam broker-these ones mostly limit your payment to crypto wallets because they are irreversible and anonymous. You cannot file for a refund if you use such.

Investors have different levels of capabilities and risk appetite. Therefore, the broker should have availed information regarding minimum deposits for various accounts. It is hard to tell how a package suits your needs without such details. Thus, investors have been denied their prerogative of choosing. The broker should also have shared details on applicable withdrawal and dormant fees (if any). As much as the broker may not have ridiculous charges, you still deserve to know beforehand.

Trading Conditions

Although the broker has attached the T&Cs, and privacy policy, these documents do not demystify anything. They are too generic and dodge relevant details like commission terms. Also, essential trading parameters, such as leverage and spreads, are missing, which you should take lightly. Why would a legit broker withhold such material information when they affect your returns?  

Being in the UK, the broker is bound by the 1:30 leverage capping that the FCA imposes. Other agencies, such as IIROC (Canada) and the CFTC (US), restrict leverage to 1:50, while Japan has a 1:20 capping. While some investors may view this as a setback, keep in mind that the restriction is for your good.

Since leverage is a double-edged sword, how it enhances your profit potential similarly predisposes you to significant losses. Consequently, oversight agencies set the limit for neutrality and risk minimization purposes. As for the spreads, the industry standard is 1.5 pips. Nevertheless, you will find legit brokers giving spreads below 1 pip.

Maxis Investments Trading Platform

The forex industry endorses MT4 and MT5 trading software. Thanks to their inbuilt graphical objects and technical indicators, more features and functionality are available. You can also write your scripts from scratch or use the preexisting building blocks provided by the platform. The platforms also allow you to backtest or forward test (MT5)strategies, place pending orders and auto-trade. Lastly, you access multiple timeframes and open charts, which optimizes your trading experiences.

There is no information regarding the Maxis Investments trading platform. Despite being regulated, we find this lapse wanting, and therefore, we distance ourselves from any favorable recommendations of the broker. To be safe, check the broker’s credentials before working with them. For those who might still want to invest with the broker, we hope the broker has an MT4 or MT5 trading platform.

Maxis Investments Licensure & Regulation

The FCA regulation, one of the most incredible things to have in the FX market, is the most important thing we have, though. The following are the key details regarding holding an FCA license that you should be aware of. First, brokers must have at least €730 000 in net tangible assets to meet the minimum capital requirements.

All brokers in the UK who want to provide their services must also comply with the requirement for segregated accounts. This ensures that all client funds must be held in accounts separate from the broker’s accounts and have restricted access. Additionally, the Financial Services Compensation Scheme is vital. It protects all clients of FCA-regulated brokers up to £85 000 if the broker becomes bankrupt.

The advantages of investing with Maxis Investments also zero balance protection. The protection ensures investors do not lose more than their account balances. Additionally, you can turn to the oversight agency for mediation if you have a dispute with this broker. Also, you can take any other legal action, including instituting charges against the broker in court.

Our Take

Although Maxis Investments is a licensed broker, we found it too mysterious for our liking. While we acknowledge its compliance with one of the most reputable agencies, it has withheld a lot of essential information that can help decide whether to settle for the broker.

Forex investment is too delicate to settle on anything less than ideal. Since there are numerous valid forex brokers, you should not tie yourself to this one. Regardless of being regulated, we expect a broker to come forth and disclose trading conditions, parameters, trading platform, and all other relevant areas.

Since this broker does not do that, there is nothing wrong with exploring more transparent, regulated brokers. Instead, look for brokers who openly share all the relevant details to inform your decision. 

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