Max Wells Bank has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". Banking services without appropriate authorisation This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.maxwellsbank.ltd.
I wanted to transfer my portfolio from another broker to Max Wells Bank. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Instant funding|Social trading features|Good analytical tools
Cons: Inactivity fee applies after 12 months