MaxCFD Review

Is MaxCFD Scam or Legit Broker?

MaxCFD is not a safe broker. According to our research, MaxCFD has been suspected of 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.

What is MaxCFD?

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.

MaxCFD Review Conclusion

We strongly advise opening a trading account only with brokers regulated by 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 FP Markets and Eightcap.

MaxCFD Update

Our research showed that the MaxCFD Website is inactive. Since money safety in forex goes first we recommend avoiding any proposals from MaxCFD and staying alert.