MaxFx is a broker that gives traders the ability to invest in currencies, shares of stocks, many types of indices, gold and silver. The brokerage’s clients may also trade oil, and the company is able to provide price improvements and numerous types of charts that may forecast the values of commodities. The broker has no dealing desk and does not charge any hidden fees. Moreover, the net value of each client’s open positions can reach $825 million, and the broker provides coverage and comprehensive protection that will prevent the potential impact of a negative balance.
Trading Markets Offered
Clients can trade 80 currency pairs, and the minimum spread is typically equivalent to 10 percent of a pip. In general, MaxFx will require a commission of $3.50 for each trade. Additionally, the brokerage obtains prices from 12 trusted banks and has a custom aggregator that determines the real-time worth of each currency.
Investing in Shares
By trading CFDs, an investor can predict the future values of shares and may simultaneously earn profits from numerous types of stocks, yet the trader is not required to purchase any stocks. MaxFx allows clients to trade 150 types of shares and to utilize leverage that is equivalent to 1,000 percent of an account’s balance.
While trading indices, a customer may invest a sum that equals 2,000 percent of the funds that the account contains. Furthermore, the broker will commonly charge a set commission of $4 for each order.
The broker lets clients install many types of tools and trademarked platforms, such as cTrader, cMirror and various versions of MetaTrader 4. If a customer selects cTrader, the individual can receive emails that feature alerts and utilize cAlgo, which is a program that lets investors create algorithms and evaluate the indicators that other trading systems provide. If an investor chooses MetaTrader 4, the client may use a custom system that can automatically place orders and perform technical analysis.
Each customer is able to try MaxFx’s demo account for an unlimited period of time, and an investor can open a professional account or an account for VIPs. The pro account typically requires a minimum deposit of $500. When an investor opens an account for VIPs, the trader will receive an account manager and a credit card that is managed by MaxFx.
The broker allows traders to evaluate detailed graphs that indicate historical changes in a currency’s price, highlight pivot points and predict the future values of currencies. A client can customize the chart by adding lines, bars and candlesticks. MaxFx provides systems that automatically offer signals from various companies that produce forecasts. The trader may also use features that will automatically mimic the actions of another investor. Furthermore, a user can send signals to other clients and require the traders to pay commissions.
Developing a Strategy
When an investor is utilizing an automated system, the client will be able to modify settings that are associated with risk. A customer may also determine the volumes of daily trades and opt to manually set the price at which the software will take the profit. Additionally, the system offers statistics that indicate the return on investment and the percentage of trades that generate profits.
The Strengths and the Potential Weaknesses of the Site
MaxFx has been certified by the regulatory agencies of 25 nations in the European Union, and the business is regulated by the Cyprus Securities Exchange Commission. The company also meets the standards of the Markets in Financial Instruments, which is a protective organization that was established in 2007. Additionally, the brokerage is a member of the Investor Compensation Fund, and the reputable association will cover any unwarranted losses that are worth a maximum amount of $20,000.
The brokerage offers videos that help traders to utilize technical analysis, evaluate the effects of economic news, use leverage, determine moving averages, follow trends and develop a custom trading system. Several videos also provide instructions that are related to stochastic oscillators, which examine the support and the resistance that may be associated with each trend.
Completing Deposits and Withdrawals
In order to add funds to the account, an investor may use Skrill, Neteller, WebMoney, Union Pay and wire transfers, and generally, the deposited funds can be instantaneously available in the account. When a client makes a deposit, the information is entirely encrypted and protected by MaxFx’s security software.
Once an investor has created an account, the trader can easily submit support tickets, and according to testimonials, MaxFx’s specialists will typically provide a response within 24 hours. The brokerage also offers a 24/7 hotline, yet the broker does not accept telephone orders. Moreover, the company provides an extensive list of frequently asked questions.
MaxFx’s platforms feature low spreads, state-of-the-art apps, tools that offer especially swift execution, more than 60 types of indicators and custom graphs. Unlike many brokers, the business provides more than 100 financial instruments and is frequently able to offer instantaneous withdrawals. Additionally, the company periodically manages contests that allow traders to win prizes with a cumulative value of at least $10,000. When you’re ready to open a live account, you can complete MaxFx’s three-step process, or you may create a demo account and opt to receive the broker’s newsletters.