MaxionixTrader has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
If you are reading this considering MaxionixTrader - run. I wish I had read more negative reviews while looking for alternatives to my previous provider. I thought the positive ones were real. Maybe some are. My experience over since early this year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Clear documentation|Good mobile app|Quick verification
Cons: Live chat only during business hours
KYC with MaxionixTrader is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Detailed reporting|Smooth onboarding
Cons: Limited social trading features
For anyone considering MaxionixTrader, please be aware that this company has been flagged by Financial Conduct Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Appears in regulatory warnings database|Uncertain regulatory status