Beware! Maxis Investments is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Maxis Investments is a regulated broker but not without its fair share of questionable decisions. The worrying this here is that this firm is not some offshore entity, but a UK based broker and yet it has taken certain directions in its services that really seem troubling to us. Read the review to find out more.
Maxis Investments claims to offer services in three main area. These are Investment Advisory services, Safekeeping and Administration, and brokerage services.
As part of its brokerage services Maxis Investments offers equities, sovereign eurobonds, global eurobonds, forex currency pairs, and commodities. We find no spreads or leverages anywhere on the site, which is definitely a disappointment, and not the smartest of moves.
As a matter of fact, Maxis Investments is extremally limited in terms of the information that it provides. The site is almost devoid of any expanding information, and we are not sure what the other two service categories entail. One can go through the broker in less than 5 minutes. Moreover, there was no sign up button anywhere nor a login one. And we could not locate the most crucial of all legal documents, the terms and conditions.
Maxis Investments should have a reasonable explanation as to why its site is so limited, or its FCA license seems to us somewhat unjustified.
MAXIS INVESTMENTS REGULATION AND SAFETY OF FUNDS
Maxis Investments is actually owned by Is Yatirim Menkul Degerler A.S. (İş Investment), a Turkish securities and investment firms, one of the leading ones in fact, in the nation. This company is, itself, a subsidiary of Turkiye Is Bankasi A.S (İşbank).
However, the most crucial thing we have is a FCA regulation. Here are the main things that readers should know about the having an FCA license. First of all, we have the minimum capital requirements of a minimum of €730 000 in net tangible assets. This is required of all UK brokers that wish to provide servcies there. Then we have the Segregated Accounts requirements, meaning that all client funds must be kept in accounts not affiliated to the brokers own accounts, of which the broker in question has limited access to. The we have the crucial Financial Services Compensation Scheme covering all users of FCA regulated brokers up to £85 000 in case the broker goes insolvent. In this is just a small percentage of the requirements. In essence, holding a FCA license is one of the best things to have in the FX industry.
And yet, even with the FCA license in its pocket, we still find this broker to be undeserving of it. Considering the lack of information on its site, more of which is soon to be revealed, we, as observers, cannot but feel cheated out of it. Why should the firm exclude crucial trading and payment details? The FCA license tells us that it isn’t hiding anything, so this is purely a preference-based choice. We find this decision unpopular and unsound.
MAXIS INVESTMENTS TRADING SOFTWARE
Keeping with the spirit of withholding information, it was no surprise to find absolutely no platform information at all. We don’t know what platform Maxis Investments offers, nor any specific trading conditions. However, the biggest mystery of all is why Maxis Investments has chosen not to detail this.
MAXIS INVESTMENTS DEPOSIT/WITHDRAW METHODS AND FEES
There is absolutely no payment information at all, which by this point is expected. Its perhaps the biggest issue of Maxis Investments that it does not include the most important of details. How does Maxis Investments hope to introduce new users to its services? Moreover, how are other users able to get a feel of what Maxis Investments offers?
Honestly, we do not recommend this broker because, applied to regulated brokers as well, if you are hiding something, it means that there is a reason for it.
