Maxain (Chinese name: 美盛) is a Forex broker registered in China in 2023, with its headquarters located in Hong Kong, China. This broker primarily offers trading services in Forex, precious metals, energy, and indices, among other financial products. Maxain has several subsidiaries, each registered and operating in different countries and regions.
Company Registration and Regulation:
The official domain of Maxain was registered on September 6, 2023, less than a year ago. As a company active in the financial services field, it focuses mainly on Forex trading and has several subsidiaries. These subsidiaries are registered and operate in various countries and regions, here are some specifics:
Maxain Technology Sdn. Bhd. is registered in Kuala Lumpur, Malaysia. Maxain Markets Limited is registered in Saint Vincent and the Grenadines, another subsidiary of the Maxain Group, and is regulated by the local Financial Services Authority (SVG FSA). Maxain Group Limited is a company registered in Hong Kong. However, this broker does not hold a regulatory license from the Hong Kong Securities and Futures Commission (SFC).
It should be noted that although Maxain has a regulatory license in Saint Vincent, Saint Vincent does not issue Forex licenses or regulate the Forex business. Furthermore, Maxain has claimed to be authorized and regulated by the Labuan Financial Services Authority (MY Labuan FSA) of Malaysia. As an offshore financial regulator in Malaysia, the Malaysian Labuan FSA regulates Forex investment activities but does not allow its brokers to offer Forex activities to Malaysian residents. Therefore, investors should carefully assess the related risks when considering trading with Maxain.
Account Types:
Maxain supports the opening of both real and demo accounts and offers three different types of accounts: STD (Standard Account), PRO (Professional Account), and ECN (Electronic Communication Network Account), to suit different trading needs and experience levels. These accounts differ in terms of minimum deposit, leverage, spreads, and commissions.
The STD account is suitable for investors who wish to engage in standard trading, with a minimum deposit of $1, a minimum spread of 1.6 pips, leverage up to 1:1000, and no commission requirement.
The PRO account offers more competitive trading conditions, also with a minimum deposit of $1, but with a minimum spread of 1.3 pips, leverage up to 1:1000, no commission, and a lower mandatory closeout ratio of 50%.
For investors seeking a more advanced trading environment and lower spreads, the ECN account may be a better option, though its spread is only 0.1 pips, leverage at 1:100, and trading unit at 0.01, it requires a minimum deposit of $10,000, a commission fee of $7, and the same mandatory closeout ratio of 100%.
Minimum Deposit:
The minimum deposit for this broker depends on the type of account chosen:
- STD and PRO accounts have a minimum deposit of $1.
- ECN accounts have a minimum deposit of $10,000.
Spreads and Leverage:
The broker offers different types of accounts to meet the needs of different investors:
- STD and PRO accounts offer minimum spreads of 1.6 pips and 1.3 pips, respectively, suitable for standard and more competitive trading environments.
- ECN accounts provide lower spreads, with a minimum of 0.1 pips, suitable for investors seeking a more advanced trading environment.
All account types offer a maximum leverage ratio of 1:1000, which means investors can borrow up to 1000 times the amount of their account balance, significantly increasing the risk of trading.
Trading Platform:
Maxain also provides the MetaTrader 4 (MT4) trading software, supporting various download methods including desktop, Android, and iPhone versions.
Deposit and Withdrawal Methods:
Moreover, Maxain offers various deposit and withdrawal methods, including UnionPay, WeChat Pay, Alipay, USDT, VISA, Mastercard, Tether, and bank transfer, providing customers with a variety of payment options.
Conclusion:
Maxain is a Forex broker established in 2023, offering trading services in Forex, precious metals, energy, indices, and other financial products. Maxain has several subsidiaries, operating in multiple regions. However, the broker is subject to weak regulation, with a maximum leverage of 1:1000, exceeding the normal leverage range, which could increase trading risks for investors. Investors should carefully consider these factors when choosing to work with Maxain, to ensure the safety of their funds and protect their legal rights.
Currently, Maxain is shown as "In-Operation" on the Traderknows.
