Introduction to CoinMaxis Review:
CoinMaxis claims to be an advanced trading platform that has just the right offers for its customers. For any brokerage firm to legally operate in the financial market, they need to have a license approved by the regulatory authority whose jurisdiction they fall in. However, various scam brokers skip this step and lie about their license to the customers thereby luring them into the scam. If you want to stay away from such brutal scams, read this full CoinMaxis review to know more.
Name: CoinMaxis
Website: coinmaxis.com
Address: Saint Vincent and the Grenadines
Leverage: 1:400
Minimum Initial Deposit: Not Disclosed
Regulation: UNREGULATED
About CoinMaxis:
In this section, we will be specifically targeting all the red flags raised by CoinMaxis in this CoinMaxis review.
COINMAXIS IS UNREGULATED
CoinMaxis does not claim anything about their regulation on their website. The company only states that they are a good brokerage firm but nothing about the license. After a little investigation outside their website, we found out that CoinMaxis is UNREGULATED. CoinMaxis is actually based out of Saint Vincent and the Grenadines. For those of you who don’t know, Saint Vincent and the Grenadines is actually an offshore zone and also a famous breeding ground for scam brokers. This raises the first red flag against CoinMaxis in this Coinmaxis.com review.
HIGH LEVERAGE OFFERED
Leverage is yet another parameter used to identify whether a brokerage firm is a scam or not. The higher the leverage goes, the higher is the risk of the trader losing the trade. Most of the legitimate brokerage firms offer leverage up to 1:50 or 1:30, but in the case of CoinMaxis, the company offers a leverage of 1:400 which is very high and raises suspicions against coinmaxis.com scam.
MINIMUM INITIAL DEPOSIT NOT DISCLOSED
Yet another red flag that we found in this Coinmaxis.com review is that the company does not reveal the minimum initial deposit demanded by them from the customers. Not disclosing important information like this is highly suspicious. The regulations advise the brokerage firms to set the level of minimum initial deposits at low and therefore, common minimum initial deposits lie under $10.
BAD TRADING PLATFORM
CoinMaxis provides a very cheap-looking trading platform to the customers after claiming to provide the best services. CoinMaxis does not offer MetaTrader 4 or MT4 or MetaTrader 5 or MT5 as their trading platforms. This raises suspicions along with the red flag pointing to the Coinmaxis.com scam.
Conclusion: Is CoinMaxis really a scam?
To sum up, all that has been stated above, we leave it upon you to decide whether CoinMaxis is a scam or not. However, we warn our readers to stay away from CoinMaxis as it is a potential scam broker. If you have been scammed by CoinMaxis or any other scam broker, just file a complaint with us by filling out the form given above the review and we will help you with fund recovery.
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