Who is MaxVol? Find Out The Truth
You must know how important broker security and regulations are before even considering investing your money. MaxVol presents itself as a reliable broker that puts your safety first. Does it, though?
We conducted a detailed investigation and identified numerous warning signs that concern investors. Please read this MaxVol review to understand why you shouldn’t invest your money with them.
|Leverage||Up to 1:500|
|Bonuses||30% – 100%|
Are You Safe With MaxVol? Regulation And Security
In terms of regulation, MaxVol claims that your safety comes first, but multiple sources advise differently. Upon checking their website, we couldn’t find any information about their regulatory status.
In fact, after checking BaFin (Federal Financial Supervisory Authority), they advise MaxVol is operating without a permit. Section 32 of the German Banking Act (KWG), states that MaxVol is not licensed to conduct banking business or provide financial services in Germany. This alone is a major red flag because it is clear that MaxVol is not regulated and the security of you and your funds is at risk.
This should be enough information for you not to invest with them, but if it isn’t, dive deep into this MaxVol review with us and we will show you more things to be concerned about.
An Overview of Trading Software
At first glance, MaxVol’s internet-based trading platform looks very detailed. It offers different features and chart tools so investors can navigate the platform easier. With a large selection of assets for trading, technical indicators, an adjustable user interface, and fast trade execution we could say that the trading platform looks decent.
It is certain that in this case, MaxVol is trying to manipulate investors by offering a good-looking website and platform. Although it appears trustworthy and secure, it is anything but safe.
Bonuses And Promotions
High bonuses may appear appealing, but they always come with restrictions. One of them is a minimum turnover requirement that you must reach to withdraw your bonus funds. According to the MaxVol website, depending on which account type you choose, the bonuses vary. It could be from 30% up to 100%.
Brokers may offer manipulative trading software. Contrary to appearances, you are not actually making a large profit. Once your account has accumulated a bonus, it will be difficult to distinguish between the money you originally deposited and the bonus money.
MaxVol Account Types
There are various account types available at MaxVol, and each offers benefits. The size of your initial deposit will define your account category and the perks you receive. After making a larger deposit, you can advance your account to the next level. The choices offered are:
- Entry-level $10.000
- Default $25,000
- Premium $50,000
- VIP $100,000
Just for an entry-level account type, you are required to deposit $10,000, which is a significantly high amount. The benefits they provide with each type of account are different but insignificant. The VIP account claims to have a 0 pip spread whereas the Premium account gives a 0.8 pip spread.
More “benefits” and “better” bargains are available to you when you go up a level in your account and invest, but most likely that is all fiction. Their $250 minimal deposit is still excessive when compared to those of other brokers.
Funding Procedure at MaxVol
Upon checking their website, they accept 3 payment methods:
- Credit/Debit Cards
- Bank transfers
Regarding withdrawals, they are only possible after verifying your account. After an investor sends a signed withdrawal form and the application is approved, funds will be in your account. It sounds fast and easy, right? But unfortunately, the withdrawal process is typically much longer with scam brokers, if they even let you withdraw. Withdrawal issues are common with scam brokers.
The important thing to remember is that getting your money back is possible. We can assist you by reporting your scammer.
How Is The Scam Carried Out?
At first, it will seem that making a huge profit is easy but the real scam begins when you deposit real money. They can make you lose all your funds or worse, get you into debt.
If you wish to withdraw money, they will put off the process for months. After a while, it will become impossible to request a chargeback from your bank. You will NOT get your money back, no matter how many complaints you file. They may even ask for additional funds to withdraw your money at some point but don’t take their word for it. It should be deducted from the account balance even if they really require it.
Numerous sources agree with the investment fraud involving MaxVol broker. We exposed the truth in this honest review by providing the facts. Being unlicensed should be enough for you to refrain from investing with them. After summarizing everything we collected in our detailed research, it is evident that MaxVol is just another scam broker that can’t cover up anymore. Both you and your funds should stay away from MaxVol.
Don’t feel embarrassed about reporting a scam. If you have any negative experience with this or any other fraudulent broker, we would be grateful if you could share it with us so we can help you get your money back.
FAQs About MaxVol Broker
Is My Money Safe with MaxVol?
Unfortunately, no. We advise requesting a withdrawal of your money or better yet requesting a chargeback on your credit/debit card.
Does MaxVol Offer a Demo Account?
Yes, but investors are urged to proceed cautiously because they risk believing deceptive claims of getting easy money.
What Is The Minimum Deposit at MaxVol?
The minimum deposit is $250, however, to get to the most basic account type, you would have to deposit $10,000.