Maxim Capital Ltd / Maxim Trader / Maxim Traders has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Addresses: The Apex 2 Sheriffs Orchard Coventry CV1 3PP United Kingdom 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.maximtrader.com.
I have been trying to close my account with Maxim Capital Ltd / Maxim Trader / Maxim Traders for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Good mobile app|Good analytical tools
Cons: Would like more payment methods
Do not believe the bonus offer from Maxim Capital Ltd / Maxim Trader / Maxim Traders. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited from a blog post comparing services and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Intuitive for beginners|Risk management tools|Full transparency
Cons: Limited social trading features|Onboarding videos are outdated
My card was charged twice by Maxim Capital Ltd / Maxim Trader / Maxim Traders on the same day. I had to dispute it with my bank. Maxim Capital Ltd / Maxim Trader / Maxim Traders then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Regular platform improvements|Automated trading options|Wide product range
Cons: Cannot customize dashboard fully|Limited social trading features
Maxim Capital Ltd / Maxim Trader / Maxim Traders offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Risk management tools|Regular platform improvements|Good analytical tools
Cons: Onboarding videos are outdated
Maxim Capital Ltd / Maxim Trader / Maxim Traders locked my account without warning and demanded documents I had already submitted. since I opened my account last year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Personal attention|Economic calendar
Cons: Slow to add new assets
I wanted to transfer my portfolio from another broker to Maxim Capital Ltd / Maxim Trader / Maxim Traders. 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: Segregated accounts|Market news feed|Clean UI|Customizable dashboard
Cons: Onboarding videos are outdated
I closed a profitable position at Maxim Capital Ltd / Maxim Trader / Maxim Traders and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Social trading features|Multiple order types
Cons: Nothing significant
I am in a dispute with Maxim Capital Ltd / Maxim Trader / Maxim Traders over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Fast support response|Reliable uptime|Multiple order types|Personal attention
Cons: Account statements could be more detailed