Is MaxCFD a regulated forex broker or a scam?
MaxCFD is not a safe broker. According to our research, MaxCFD has been suspected in fraudulent actions. The company does not hold any financial licenses, but claims the opposite. Therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
|🗺️ Registered in||No Registration|
|🗺️ Type of License||No License|
|🛡️ Is MaxCFD safe to trade||No|
|🗺️ Recommended Licenses||FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺|
|🖥 Alternative Broker||FP Markets - licensed by ASIC in Australia|
MaxCFD is a forex broker operated by Chemmi Holdings Ltd. The website of the company shares its location – London, UK. They also mention the regulation number of the company but don’t mention the regulatory institution who authorized it. The main UK regulator is Financial Conduct Authority and there are no records about MaxCFD being registered there, moreover, the broker is blacklisted by UK’s FCA. Also, New Zealand’s FMA has recently issued a warning against MaxCFD for targeting New Zealand residents. In case of getting the license from New Zealand’s FMA (Financial Markets Authority), the broker needs to have a physical office in New Zealand and minimum net tangible assets of 1 million NZD or 10% of average revenue. It is about $35,000-50,000 for a license depending on its type.
We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.
Yet, it is always great to hear your personal opinion about MaxCFD. So you may share your experience or thoughts or discuss them below or ask us for additional information.
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