Maxiwyse Review – Are They Safe or a Scam?
Our Maxiwyse Review 2023
Welcome to our Maxiwyse review! We found that this is a great online broker for all kinds of forex trading. Keep reading to find out more!
So wait, what is Maxiwyse? Well, it’s an online broker website based in the Caribbean and it lets you trade over 1,500 instruments, of which a good chunk of these are forex pairings. But is that massive minimum deposit at Maxiwyse worth it? There’s only one way to find out and that’s to read the rest of this Maxiwyse review!
While we didn’t encounter any kind of welcome bonus to begin our Maxiwyse review, we did find the whole signing up procedure easy and quick. What you have to do is to simply tap on the orange Register button and this will bring up a registration form.
Here you will have to enter in your name, email, phone number, address, date of birth, and then select your preferred trading currency from US dollars, British pounds, euros or Australian dollars. There is also a box here you can use to enter in any promo codes, but we didn’t get the chance to do this.
We found that we were able to open up our account in a matter of minutes. This is because Maxiwyse offers you supremely fast account verification. All you have to do here is provide a scan of some kind of personal ID such as a passport or driver’s license. Then it’s just a matter of putting down your opening deposit and enjoying an entire world’s worth of forex trading options.
We loved the look and feel of the Maxiwyse website. The use of blacks and golds was distinctive and the overall feel of the trading platform was professional and assured. We didn’t encounter any broken links and were impressed with the page loading times.
Everything from registering a customer account to requesting your first withdrawal is nicely intuitive at Maxiwyse. This is something that is carried onto the actual trading platforms that we’ll describe in a separate section. Lots of online broker sites try to barrage you with way too much irrelevant information, but we found that Maxiwyse got the balance between simplicity and resourcefulness just about right.
Chances are that you’ll be wanting to trade from either a desktop or laptop computer, but there are also some great mobile trading options. You can access these by downloading the Maxiwyse app to either an iOS or Android device. All of which should put these powerful trading tools in the palm of your hand.
There are six different accounts to choose from at Maxiwyse and they all feature leverage of up to 400:1, access to multiple markets, a good variety of strategic tools and indicators, and multi-language support.
Each account features a minimum deposit amount that varies from $5,000 from the lowest rookie account to a staggering $1 million for the VIP account. To be honest, even the minimum deposit amount is relatively high compared to some other online brokers, but thankfully you’ll be rewarded by having access to some excellent trading features.
These features get more impressive the higher up the various accounts you climb. So for the Basic and Premier accounts, you’ll start to get benefits like multiple execution orders or even the option to set up an Islamic account.
But things start to get really fun when you reach the Elite, Elite Plus and VIP account levels. Here is where you’ll be granted things like daily comprehensive analysis, your own private account manager, personalized market offers and even cumulative deposit bonuses. All of which should interest the more professional and experienced forex traders.
Maxiwyse makes it easy to enjoy a nice blend of convenience with high performance when you use its online trading platform. You can either do this via the downloadable trading software or simply use the WebTrader tool that runs from your browser window.
We found that both options gave you a heavyweight trading package that was full of a variety of trading tools and indicators. In particular, the rapid order execution impressed us as it ensured that any price slippage was kept to a bare minimum.
What’s best is that, despite featuring over 1,500 unique instruments, the trading platform managed to keep everything relatively streamlined and easy to access. All in all, a good example of the kind of cross-market platform that you should be looking for.
Our Maxiwyse review found it fairly straightforward to make deposits at this online trading site. This is because you can use the familiar Mastercard and Visa credit and debit cards or just keep it simple with a bank transfer. We should note that Maxiwyse also lets you make your payments with a variety of different cryptocurrencies such as Bitcoin.
While all of this sounds good, we were a little alarmed to find that you can only make deposits from a minimum of $5,000 at a time which is a fairly high threshold. Thankfully, Maxiwyse doesn’t include any kind of deposit fees for adding funds to your account. Just so you know, the withdrawal process at Maxiwyse is fairly straightforward and you should get the money back in your account between one and five working days depending on which payment method you use.
Fees – Are there any Maxiwyse scams with its fees?
The good news here is that Maxiwyse manages to keep all of its fees to a bare minimum. We’ve already talked about how you won’t be hit with any fees for commission or deposits, and this is something that marks Maxiwyse apart from many of its rivals.
However, there are a few fees at Maxiwyse that are clearly detailed in the broker’s terms and conditions. Here you will find that there may be fees for things like withdrawals, currency conversion and activating a dormant account. Thankfully, Maxiwyse is always up front about such fees and will always strive to avoid having any hidden charges on its site.
We’re always keen to see what customer care options an online broker has. This is because you never know when you are going to need some help with anything from verifying your account to making a withdrawal of your funds. Thankfully you won’t have to worry about any of that Maxiwyse. This is because the broker operates a friendly and responsive customer support team who gives you many ways to get in touch.
Perhaps the easiest way of reaching out to Maxiwyse is to use the live chat icon that pops up all over the trading site. However, it’s also good to find that you can email the brand’s customer support team or even give them a telephone call. We should also mention the fact that there is a reasonably detailed FAQ section that’s well worth a look if you are using the trading site for the first time. Don’t forget that you can also follow Maxiwyse on its Instagram and Facebook socials.
We can’t really have a decent Maxiwyse review without accounting for the site’s safety.
After all, there is no way that we are going to recommend you use any online trading platform unless we can vouch for its legality. Thankfully Maxiwyse has passed our test with flying colors. After all, it is a legit business operation that is registered in St. Vincent and the Grenadines. Just so you know, you can’t use Maxiwyse from the US.
We should also stress the fact that Maxiwyse operates its website with high level SSL encryption technology. This basically means that all of the communication between yourself and the online broker will be scrambled and unreadable by anyone else.
There is plenty more evidence of legitimacy found all over the trading site. After all, you won’t find any scam brokers who are so keen to display their policies regarding everything from anti-money laundering to its KYC procedure. Plus there’s also a clear refund policy and risk disclosure on the Maxiwyse site so that you are under no illusions of the kind of risk you face.
While we’ve been focusing on the forex trading at Maxiwyse, it’s important to note that there are many more ways to trade at this online broker. After all, you can come here and invest in over 200 stocks, as well as all of the top indices, and commodities such as oil and gold. We should also mention the fact that Maxiwyse even lets you trade in a decent range of cryptocurrencies such as Bitcoin, Ethereum and Cardano.
Elsewhere, you’ll find no shortage of tools dotted around the Maxiwyse site that are designed to help you execute better trades. These include things like client-focused support, and a wealth of daily news and analysis.
We particularly liked the sections devoted to things like the economic calendar, contract expiries and the trading hours of the key global market exchanges. All of which should ensure that you don’t miss out on any golden trading opportunities.
Maxiwyse has put on a good example of what you should be looking for in an online trading site. This is because it offers you a legit operation that features good customer support and makes it easy for you to get involved in forex trading.
The forex trading platform is excellent and you’ll find that the low commission fees and high leverage offer great value. Most other things at Maxiwyse were impressive such as all of the analytical tools and the intuitively designed trading platform.
However, the one thing that we can’t get over is the fact that you have to deposit a minimum of $5,000 to set up an account. This makes Maxiwyse a better option for those with a little more experience of online trading and it could price itself out of the market for some rookie traders. But on the whole, we were impressed with what we found at Maxiwyse and would recommend this site to anyone who is serious about forex trading.