The Forex market, at times, receives contradicting testimonies among netizens. On one hand, one happens to hear about brokerage companies that scam unsuspecting traders, on the other, traders receive a substantial income. The most experienced and skilled trader tends to forget what traditional work is like because it is completely replaced by life in the Forex market.
However, distinguishing a fraudster from a normal market participant may prove challenging. There are numerous cases wherein traders have trusted a brokerage company and then it suddenly went bankrupt.
To safeguard the interests of traders, the executive and legislative branches of governments closely control the financial sphere and the activities of various companies.
Another point against the Forex market is a certain distrust that some citizens have towards new financial institutions. While the Forex market is already nearing its 50th year, making it a stable institution, stories abound that there were companies that investors initially trusted and then suddenly declared bankruptcy, leaving them with nothing. As such, the words “scam” and “fraud” are often used in relation to financial institutions.
For examples of brokerage companies that are devoid of such adjectives, consider these international companies: Saxo Bank, OANDA, and MaxiTrade.
Forex broker: scam, fraud or …something else.
In the era of the internet, almost everyone has access to reviews. We will go over them and find out what is written about the three companies we have selected. Due to the huge competition in the Forex market, you would often read accusations of fraud even against the most prosperous and law-abiding of brokerage companies. In this regard, we will not pay attention to uninformed criticism. In most cases, reviewers do not bother themselves with due investigation and simply write about how this company is a scammer or how that company is a fraud.
Saxo Bank, OANDA, and MaxiTrade have never been labelled as unscrupulous. If this would be the case, none of them would have been able to work in the financial industry for as long as they have. They would be either be closed or we would hear that they have declared bankruptcy. Therefore we are interested in user opinions, which are represented by constructive criticism, rather than unsupported accusations.
With the brokerage company OANDA, a small flaw is associated with them in the form of small leverage. Users sometimes accuse Saxo Bank of poor customer support, but all these comments are, of course, uninformed. The majority of MaxiTrade clients write about how the company avails them of the possibility of quick fund withdrawal, how it offers them effective platform work, high-quality trading signals, and a large amount of analytical tools.
In order to work with participants of the Forex market and gain the trust of the traders, any international company must be reliable, secured, compliant with laws, and must maintain constant communication with customers. Of course, it is necessary that they have a grasp of the trader’s native language. This is the minimum set of qualities and MaxiTrade has all of them, thus giving them a competitive advantage over other brokers.
MaxiTrade advantages over competitors
MaxiTrade has a number of positive qualities with relation to technical and informational support. The set of its financial products will also satisfy any client. Let us dwell into each of these advantages and discuss them in more detail.
Financial. MaxiTrade outperforms its competitors at the initial stage by offering a minimum deposit of $500.00. For instance, to open an account in Saxo Bank, the client will need $10,000.00, an amount that not everyone is capable of paying.
Another advantage is the low spreads which allows you to work with almost no losses. The system of account replenishment and withdrawal of funds is very convenient. Deposits and withdrawals can be done using credit cards, bank transfers, web-wallets, and the like. It is important to know that working with MaxiTrade is free of charge.
Technical. Like Saxo Bank and OANDA, MaxiTrade has its own trading platform. Its advantages are noted by users in the reviews. The MaxiTrade platform is compatible with any device and software. It is really easy to work with and it has an intuitive interface. The platform allows you to instantly execute orders and provides a report on each transaction online. In addition, consultants and personal managers provide support to traders round the clock. Furthermore, there is no need to download and install the software.
Informational. In terms of providing analytical materials, MaxiTrade completely surpasses its competitors. First, the company’s specialists prepare Forex forecasts on a daily and a weekly basis with detailed analytics.
Another tool is the calendar of economic news. It describes the events of world markets and shows their influence on Forex. Information is updated almost every hour.
Account holders also get access to the Autochartist technology which allows search engines to constantly monitor thousands of financial instruments.
Bonuses. The advantages, while not usually talked about, are also significant. Every detail is important for a trader when choosing a brokerage company. MaxiTrade provides customers with various bonuses and the opportunity to take part in promotions. Each new user receives a bonus from the company when opening an account and upon its activation.
Through these, it can be concluded that MaxiTrade is probably the most reliable brokerage company there is. Reviews in which the broker is recognized as a fraudster are left either by unscrupulous competitors or novice traders who made their own mistakes and have lost money as a result.
MaxiTrade successfully avoids any difficulties in the work and has one of the most attractive opportunities for trading. As such, MaxiTrade provides constant growth for its customers.