MaxiTrade Review (2023)

Is MaxiTrade a scam or legit broker?

No, it is not safe to trade with MaxiTrade. MaxiTrade is owned by Strategy One Ltd., which is an offshore company registered in St. Vincent and the Grenadine.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as GoldFxTrading, AZ Trades and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

According to the website, MaxiTrade was funded in 2008 and Strategy One Ltd has earned the trust of 2 largest expert organizations in the financial field: Association of Russian Banks, Association of Regional Banks of Russia. Although, this kind of information doesn’t mean the broker is regulated in Russia and as turned out it is actually not regulated there. 

There is one more company behind the brand’s name, Spritecoms Ltd., incorporated in Dublin, Republic of Ireland. However, there is no connection between the mentioned companies (Strategy One Ltd and Spritecoms Ltd) and also neither of them is regulated in Ireland or any other country. 

Moreover, the Bank of Lithuania has warned against Strategy One Ltd., which means it is better not to deal with any broker, operated by this company:

Conclusion

We advise all investors and traders to avoid MaxiTrade and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and BlackBull Markets.