About MaxFx
Overview
MAX FOREX (operating as max-forex.com) is an online trading provider registered in the British Virgin Islands, founded on 1 March 2023. The broker presents itself as a reliable platform for trading forex, commodities, indices, stocks, and cryptocurrencies. It offers three account types—ECN, High Leverage, and Islamic—all with a minimum deposit of 50 USD, and leverages up to 1:1000. Trading is executed through the MetaTrader 5 platform, available on desktop and mobile devices.
Regulatory Status
Our records indicate that MAX FOREX is not regulated by any financial authority. The broker's registration in the British Virgin Islands does not constitute regulatory oversight. Additionally, the Australian Securities and Investments Commission (ASIC) has flagged MAX FOREX as a suspicious clone entity. Despite claims on its website of being licensed by ASIC and the Vanuatu Financial Services Commission (VFSC), these assertions are unverified and likely false. Traders should exercise extreme caution when dealing with unregulated brokers.
Account Types
MAX FOREX offers three account types tailored to different trader preferences. The ECN Account is designed for both beginners and experts with leverage up to 1:200. The High Leverage Account allows maximum leverage of 1:1000, aimed at traders with smaller capital (under 1000 USD).
The Islamic Account, also with leverage 1:200, is swap-free for clients observing Sharia law. All accounts require a minimum deposit of 50 USD. The broker defaults to the ECN account upon registration.
Platforms and Tools
The broker exclusively provides the MetaTrader 5 (MT5) platform, a multi-asset trading platform known for its advanced charting, automated trading via Expert Advisors, and comprehensive analytical tools. MAX FOREX offers MT5 on desktop, web, and mobile apps for iOS and Android. The website claims 'unmatched execution speed' due to a proprietary fiber optic network, though no independent verification is available.
Markets and Instruments
MAX FOREX claims to offer over 70 tradable instruments, including forex pairs, commodities (e.g., gold, oil), indices (e.g., S&P 500), and cryptocurrencies (e.g., Bitcoin). The broker does not provide a detailed instrument list on its website. The availability of stock CFDs is mentioned but not specified further.
Funding and Support
The broker accepts a minimum deposit of 20 USD, though account-dependent minimums start at 50 USD. Multiple payment methods are offered, though not detailed on the site. Withdrawal requests are reportedly processed within 24 hours. Customer support is available 24/7 across multiple languages. Educational resources are provided, including trading guides and video lectures.
Risks and Considerations
As an unregulated broker with no verifiable oversight, MAX FOREX carries significant risks. The ASIC warning adds to concerns about legitimacy. Potential clients should be aware that funds deposited are not protected by any investor compensation scheme. The broker's high leverage offerings (up to 1:1000) can amplify both gains and losses, increasing the risk of total account loss.
Overview compiled by FXCanary from regulatory records and public data. full MaxFx review