XRB-MAX is a contract for difference (CFD) broker officially registered on March 22, 2024. The broker primarily offers a multitude of trading markets through its proprietary trading platform and mobile applications, including forex, stocks, futures, energy, precious metals, cryptocurrencies, CFDs, and more.
Business Registration Information and Regulatory Status:
Public information on the XRB-MAX official website reveals that its headquarters are located in New York, USA. Additionally, the broker is registered with and regulated by the National Futures Association (NFA) and the Financial Crimes Enforcement Network (FinCEN) in the United States, with an NFA ID of 0561418 and an MSB registration number of 31000263262302.
Upon verification, an entity named SMART GLOBAL, registered as a non-member entity with the NFA ID 0561418, was found in the National Futures Association (NFA) database, indicating that the NFA does not provide oversight. The same entity, SMART GLOBAL, with the MSB registration number 31000263262302, appeared on the FinCEN website. However, FinCEN's primary mission is anti-money laundering and does not regulate standard financial derivative transactions. The relationship between XRB-MAX and SMART GLOBAL remains undetermined.
Moreover, the design and content of the XRB-MAX broker's official website are almost identical to those of other brokers' websites, including VTPTRADE, CTRL FX, NASDAQK LIMITED, BROKERNET AUSTRALIA PTY LTD, IVISION, and ASEX.
Opening an Account:
To open an account with XRB-MAX, visit the broker's official website and click on "Register" on the homepage or the upper right corner of the webpage. Begin with an email verification, followed by setting up a login password and submitting the application. Once submitted, the account registration is successful.
Trading Account Information:
The XRB-MAX official website only discloses information on spreads, trading leverage, margin calls/stop-out levels, and contract sizes. It does not publish details on account types, trading commissions, minimum/maximum trading volumes, maximum positions/orders, or minimum price precision.
- Spreads: Variable spreads
- Trading Leverage: 1:100—1:500
- Margin Call/Stop-Out Level: 100%/50%
- Contract Size: 1 lot = 100,000 currency units
Trading Platform:
XRB-MAX provides users with the ST5 trading platform.
Deposits and Withdrawals:
XRB-MAX does not clearly disclose the supported methods for deposits and withdrawals, associated fees, or the minimum deposit and withdrawal amounts on its official website.
Conclusion:
Traderknows Encyclopedia warns investors that XRB-MAX is a forex scam website with opaque registration and regulatory information, and is suspected of false advertising. The only way to contact this broker is through email, with very limited contact options. Its official website's design and content use the same template as those of VTPTRADE, CTRL FX, NASDAQK LIMITED, BROKERNET AUSTRALIA PTY LTD, IVISION, ASEX, among other broker websites. Traderknows Encyclopedia advises investors to choose brokers with transparent information, strong regulation, and a good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected of fraud" on Traderknows Encyclopedia.
