MaxCFD logo
MaxCFD Review
Traders Rating1 Vote0.65
Website: www.maxcfd.com
Address: 20-22 Wenlock Road, London, England, N1 7GU, United Kingdom
Phone: 02080689432 - 02039578511 - 02037699838 - 02039578540 - 02033185138 - 02033185180
Email: support@maxcfd.com - csupport@maxcfd.com
Company: Chemmi Holdings
Regulation: Not Regulated
Remarks: MaxCFD is a Non-Licensed offshore broker! Your funds is not safe. We are not going to recommend MaxCFD
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MaxCFD Rating
MaxCFD Warning
Have You Been Scammed by MaxCFD?

 

 

An Offshore and Glitchy Broker

 

MaxCFD is a CFD and Cryptocurrency broker. Chemmi holdings limited owns and operates this broker. For a broker that was founded only a year ago, it has too many complains against and following we will explain why.

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Bad Risk Management

 

Risk management is all about keeping your loses under control. Controlled risk allows flexibility because forex trading is about opportunities and knowing when to act on them.

If you don’t limit your risks by tracking your overall exposure, correct lot size and control loses, you won’t be able to carry on your trade because you will never know what to do if things go south.

This is the difference between a professional trader and an amateur.

 

Blocks Withdrawals

 

Most reputable forex brokers pay withdrawals without any issue. But there are a few things that matter. First, where do you live (your country), your account size, your broker, etc. Most brokers face issue handling small accounts.

But even if you submit a rather large amount, it won’t help your case if your broker is fraudulent.  Maxcfd is among these brokers who don’t pay put withdrawals fairly. It is a major red sign that you should trust this broker. There is no reason for suspending a user’s withdrawing and keeping their balance. It clearly shows the company is after money.

 

Inactivity Fee

 

This fee is a sum charged to investors who didn’t engage in any trading accounting on their brokerage account for a given time.  This used to be a common practice in the financial marketplace, but it became obsolete with the Credit Card Act of 2009.

According to this, these charges are an issue for clients who want to use the account for emergencies or have a zero-balance account and made these dormancy fees illegal. If a user account remains inactive for 12 months, the issuer should disclose its existence, frequency an amount if such fees conspicuously before the card are issues, and shouldn’t charge the trader more than once a month.

MAXCFD has no right of imposing such heavy charges, and the authorities should take proper action.

 

Too Many Technical Issues

 

Do you know that one bad algorithm an cost a fortune? It gets even worse when you speak about forex trading. Surprisingly, brokers have found a way to make money with glitches. Yes, most brokers leave their systems fault on purposes to make money from their users.

We agree that you can’t have a perfectly running system all the times, but if system issues or glitches have become a part of your trade, it means the broker doesn’t want to get rid of them. But why? Its because he is making money off them somehow.

 

Conclusion

 

MaxCFD is a scam, and we say this without a doubt. The company uses various techniques to skim money out of its clients. The company has serious complaints against it, and the situation is very severe especially considering MaxCFD was only established in 2017. We will end our review by advising you to stay away from MAXCFD.

 

 

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Online Trading Scams / 2 Responses / by

Post Author: ScamRecovery

2 thoughts on “MaxCFD Review

  • Verena Naude

    (November 6, 2018 - 11:02 am)

    I have transferred usd into Maxcfd’s accounts and its a year later and to date no money/profits were made. Please assist to get these refunded and advise what your percentage for retrieving will be.

    I will take a photo of the form completed for these fund and will email same to you once I received a reply.

    Thank you in advance.
    Kindest regards
    Verena

  • Paul

    (January 1, 2019 - 4:36 pm)

    In January 2018 after doing a web search on Bitcoin I was contacted by Ben Klein of MaxCfd who persuaded me to invest in CFD’s. I paid in EU 3,241 and after a month requested a refund and after some difficulty was refunded EU 2,991.

    In May 2018 a Ben Walker of MaxCfd called me to remind me that I had a small balance to my credit in MaxCfd and persuaded me to invest again. Feeling that, since I had managed to recover most of my earlier investments, the platform was above board, I proceeded to invest again and deposited in total EU 20,138. Ben Walker urged me to invest more. in mid June he informed me that as from 1 July he would no longer be in involved in with assisting with my account as he had been promoted to a so-called “VIP” bracket and that I needed to have EU 100,000 invested in order to remain associated with him. I could not afford that amount and requested that my funds be withdrawn. Ultimately I found that my funds had been locked up and were not accessible despite my repeated requests, demands and even threats.

    After this I was approached by Financial Fraud Recovery (FFR) from Tel Aviv, Israel, who undertook to act on my behalf. I sent them the full documentation of all the communications with Maxcfd. FFR proposed that they would use my well documented records to initiate a class action at no cost for me including paying for my travel, etc and appearance in an Israeli court to launch an action against Israeli advocate informed me by letter and the owner, a certain Mr Louis Detata. Having had empowering documentation notarized by an attorney in order for FFR to act on my behalf via a legal team, ultimately the is Israeli advocate informed me by letter that he saw no prospect for success in a class action suit. FFR advised that I should consider a civil suit against Maxcfd. After repeated requests to FFR in respect of the implications regarding a civil suit, no further responses have been received from FFR in over 6 weeks.

    I would appreciate your advice and recommendation

    Thanking you in advance

    Paul Maré

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