Metamaxfx Review – A Well-Disguised Scam

Metamaxfx Review

If you have taken an interest in the financial markets and want to start trading online, you have probably heard about scam brokerages. Indeed, they have become quite widespread and despite a lot of awareness, many people end up becoming victims. Of course you do not want to be just another statistics, but does this mean you should not trade online at all? Why should you deprive yourself of the convenience and the opportunities because of these fraudsters? The important thing is to be careful and do your homework, such as going through this Metamaxfx review.

How will this help? Once you check the various aspects of a brokerage, you will be able to see if it really is what it presents itself to be. The fact is that setting up a website and making tall promises is extremely easy these days. Anyone can do it, even if they do not have a lot of expertise and this has helped these frauds become more prevalent. However, living up to the claims made is a completely different scenario, so digging into a company can help you uncover the truth.

If it is a scam, their story will fall apart and you will be able to make the right choice to protect yourself. It also helps you in choosing an appropriate broker for your trading needs that can fulfill your requirements and help you enjoy a smooth and seamless trading experience. Isn’t that what you want? It only takes a little bit of effort to achieve this goal. You should do the same with Metamaxfax that will create a powerful first impression.

Metamaxfx is presented as an international CFD and forex brokerage that provides its services to both institutional and retail clients, but this is just a front. Once you begin digging in, you will find that it is nothing more than a scam. How? Check out the indicators.

Lack of licensing and regulation

The one thing that tells you that you are dealing with a shady or fraud company is the lack of licensing and regulation. Getting a license is a time consuming and tough process and only companies that are truly dedicated will go through with it. This shows their commitment and authenticity and scam companies would never do so because it would disclose their reality. Where does Metamaxfx come in?

Licensing and regulation is not something you can even talk about Metamaxfx because for that you need to know the company first. You will discover that there is absolutely no information available about the brokerage at all. There is no corporate background that can be found, as the website appears to be virtually anonymous.

The contact details of Metamaxfx are an indicator that you are dealing with a scam brokerage because there is no company name, or any such detail available. All you will find is an obscure email and a bunch of phone numbers that do not help in establishing the broker’s credibility. The brokerage claims to be operating in the UK and Mexico. But, a check of the online register of the Financial Conduct Authority (FCA) shows that the company is not listed.

It is clearly lying about where it is based and since you have no idea who you are dealing with, it is best to avoid Metamaxfx completely.

Basic trading platform

When you go through the Metamaxfx website, you will find that the broker is promising an award-winning, world class trading platform. Yes, this claim catches your attention because the trading platform is the most vital feature in the trading process. It is what you use for executing your trades and making decisions, so it has to be capable.

Most importantly, it has to have the best tools to help you make smart trades. The Metamaxfx trading platform does no such thing because it is a basic web trading platform that is quite common amongst shady and fraud companies. It is nowhere close to the professional MT4 and MT5 trading platforms that come with cutting-edge technology and advanced features. This confirms that the brokerage is just making tall claims and not providing what it promises.

High leverage ratios

The trading conditions of a brokerage are worth checking out because they are connected to your profits. You want to be able to achieve your financial goals and this will depend on the spread and leverage offered. While Metamaxfx has advertised attractive spreads and leverage, the latter should send up a red flag right away.

You will find that leverage ratios provided by Metamaxfx are as high as 1:500 and this is definitely a concern. First off, the brokerage claims to be operating in the UK and this means it should not be offering such ratios at all. The Financial Conduct Authority (FCA) has capped the amount of leverage that can be offered to retail traders and this is way beyond that.

Secondly, such high leverage ratios are extremely dangerous and good brokers do not offer them at all, yet Metamaxfx has deliberately done so to lure people to its platform.

No reliable payment methods

The payment methods supported by a broker are important because you want to be able to make your deposits and withdrawals easily and safely. The problem with Metamaxfx is that it is trying to mislead you in terms of the payment methods it offers. Its presentation includes a list of options you can explore, such as VISA and MasterCard, bank wire transfers, Skrill, Neteller and PayPal.

This variety can be appealing, not to mention that many of these payment methods give you the chargeback option as well, which is highly reassuring. But, you will find that Metamaxfx only supports some third party payment providers, such as ChargeMoney, Kryptova and NeoBanQ. These are obscure methods and cannot be deemed safe at all. The fact that Metamaxfx is being dishonest about the payment options is also a warning.

Ending Thoughts

These details make it apparent that you are dealing with a well-disguised scam in the form of Metamaxfx because it is not what it claims to be.