MAX FOREX Information
MAX FOREX is a broker registered in the Cayman Islands, offering a variety of trading instruments, including Forex, commodities, indices, stocks, and cryptocurrencies. Traders can choose from 3 different account types, or a free demo account with $10,000 virtual funds. The broker provides leverage up to 1:1000 and supports the MetaTrader 5 platform for trading. The broker is regulated by ASIC and VFSC, and the minimum deposit requirement is $20. The company is based in the British Virgin Islands.
Pros and Cons
Is MAX FOREX Legit?
It is clear that MAX FOREX was registered in 2021, and its current status is Suspicious Clone, which is insecure.
What Can I Trade on MAX FOREX?
MAX FOREX offers traders the opportunity to trade forex, commodities, indices, stocks, cryptocurrencies.
The broker supports trading in 32 currency pairs, such as USD/CNY, AUD/CAD pairs; 11 types of commodities, such as coffee and cotton; 14 indices, such as Dow Jones 30, China 50, SP500; and some large listed company stocks, such as Apple, Amazon, etc.
Account Types
MAX FOREX offers a total of 3 different types of accounts to traders -ECN Account, Hight Leverage Account and Islamic Account. Among them, the leverage ratio of high leverage accounts can reach 1:1000, but the spreads of such accounts are also relatively high. Meanwhile, we can also note that Islamic accounts cannot earn or pay interest.
MAX FOREX Fees
MAX FOREX claims that only Islamic account will be charged commission. All three account types have spreads, but high leverage accounts have the highest spreads. Another point is that Islamic accounts do not have overnight interest, but the other two types of accounts do.
Trading Platform
MAX FOREX's trading platform is MetaTrader 5, which supports traders on the web and mobile.
Deposit and Withdrawal
Investors are able to deposit through the methods including but not limited to the following options:
1. Online Banking Transfer - Fund will arrives within 10 minutes approximately;
2. Mastercard - Fund will arrives within 10 minutes approximately;
3. Mobile Banking Transfer - Fund will arrives within 10 minutes approximately;
4. Cryptocurrency Payment - Fund will arrives within 10 minutes approximately;
Note: Some of the above withdrawal methods are only applicable to designated countries or regions, and the specific time of arrival is subject to the processing speed of your bank.
