TradeMax is an online trading platform. Trademax has been in business since 2013 and claims to be a CFD and Forex broker. They offer five asset classes, including currency pairs, stock contracts, indices, energy, and precious metals, through the business. Trademax has two locations: one in Vanuatu and one in Australia, where the broker was established.
They offer trading services in over 150 countries through the business. All traders have direct access to liquidity sources thanks to the broker’s use of ECN technology. Clients of Trademax can engage in market execution-style trading. Read this complete TradeMax review to know more about the TradeMax scam.
Warning: Not recommended by review websites like Enverra Capital
Is TradeMax a Scam?
TradeMax provides financial services under the terms of licenses issued by the Vanuatu Financial Services Commission and the Australian Securities and Investments Commission (ASIC). While regulation provides brokers with much-needed credibility they need, it does not imply that all regulated brokers are trustworthy. Read our broker review and browse other well-known trading-related websites and forums to make sure TradeMax is not a scam.
TradeMax provides leverage rates of up to 1:100 for oil (XTIUSD), 1:200 for gold, and 1:500 for foreign exchange. 1:5 for Bitcoin and 1:100 for Silver. If customers are unsure of how high leverage ratios should be established, account managers and support teams can help.
High leverage ratios may lead to higher earnings at lower costs. Customers should be aware that while leverage increases profit possibilities, it also increases risk and could lead to greater potential loss.
Deposit and Withdrawal Method and Fees
When establishing an account with the broker, TradeMax requires a minimum deposit of $100 or the equivalent in another currency. The traders at TradeMaxhave access to a number of safe deposit options. Transaction costs are not levied by the business.
By logging into the account, selecting the “Manage my Fund” tab, and completing the online form, users can request fund withdrawals.
In general, withdrawal requests filed before 4 p.m. Sydney time are processed the same business day. Requests for withdrawal that are submitted after 4 p.m. are typically handled the following working day. On the business website, customers can also watch the withdrawal tutorial.
TradeMax wants to guarantee that all customer requirements are satisfied promptly and without error. This is accomplished through client service and the company’s committed account managers. Account managers are qualified professionals who provide assistance using the customer’s chosen channels, including messaging, in-person meetings, email, and telephone.
Trademax Review Conclusion
Overall, TradeMax appears to be a broker that complies with all rules and regulations. The broker claims to be well-regulated and licensed. Customers have access to a respectable number of market assets on well-known and reputable trading platforms.
The fact that the business requires a sizable deposit on even is concerning. All types of traders benefit from the regular promotional events that TradeMax provides. When trading with this broker, traders should exercise caution and make well-researched choices without rash judgments.
If you are ever scammed by TradeMax or any other broker, then you have the option of file a complaint against the scam broker. Fill out a complaint form on our website, submit it, and get a free consultation from our experts in the fund recovery process.
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