Trademaxpro – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Trademaxpro - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://trademaxpro.com
Founded: 2021
Regulations: Lack of Regulation
Languages: English
Deposit Methods: Bitcoin
Minimum Deposit: $500
Free Demo Account: N/A
Number of Assets: N/A
Types of Assets: Cryptocurrencies
Trading Accounts and Conditions
Trademaxpro offers their clients the following types of trading accounts:
- Starter: The deposit range for this account type is from $500 to $1,000.
- Silver: The deposit range for this account type is from $1,001 to $5,000.
- Gold: The deposit range for this account type is from $5,001 to $10,000.
- Premium: The deposit range for this account type is from $10,001 onwards.
There is no mention of trading conditions anywhere on this broker’s website.
Trademaxpro – Advantages
There are no advantages to trading with Trademaxpro.
Trademaxpro – Disadvantages
Listed here are all the disadvantages that tell us that Trademaxpro is a scammer and not to be trusted:
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Lack of Regulation
Trademaxpro claims to be based in the United States, implying that they are a US-registered company. However, this claim is a lie. The truth is that this broker is not regulated in any way at all – and here is how we know.
Regulated brokers provide their corporate details on their website clearly and concisely. We get to know which company runs their online brokerage, where they are located, the multiple ways through which we can get in touch with them and which financial authority has regulated and authorized their business.
Now, if we take a look at Trademaxpro, there is a great paucity of this information. We do not really know exactly what the name of the parent company is. We have an address in the US, but no contact information. And we have zero information on their regulation standing.
This lack of information is the first red flag. However, to give this broker the benefit of the doubt, we checked the online registers for the CFTC and the NFA – the two governing bodies that monitor forex brokers in the US. We found out that Trademaxpro is not regulated in the United States at all.
And since there is no other regulation information presented, we can confidently state that Trademaxpro is operating without a license and is therefore a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Possible Serial Scammer
We also need to warn traders that we believe that Trademaxpro is possibly a serial scammer. We have found other websites that look almost identical to Trademaxpro’s, with the same design, logo and content. This means there is a scam operation to put out as many fake websites like this one in a bid to scam as many traders as possible.
Serial scammers are a serious danger to traders. These people create multiple websites to scam as wide an audience as they can because they are caught and shut down.
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Blacklisted by FCA
We are not the only ones to have noticed that Trademaxpro is not an honest broker. The Financial Conduct Authority of the United Kingdom has also uncovered this broker’s scam and has issued a warning to all traders accordingly.
The FCA has stated that this broker is operating in the UK without authorization and that any trader that deals with the broker will lose their protection from the regulator. Such a strong warning clearly tells us that we are dealing with a scammer.
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Issues with Trading Platform
Trademaxpro claims to offer their clients a sophisticated trading platform, however, this has been proved a lie. The reality is as far from this claim as can be. What this broker really offers is a web-based interface that has nothing more than charts imported from TradingView.com; the so-called platform does not really work at all – there is no way to carry out any trades on this broker’s platform.
The lack of a functional platform is a clear indication that we are dealing with a scammer.
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No Trading Conditions
The lack of anything of substance continues in this brokers’ trading conditions. Besides naming a set of trading accounts, each with rather high deposit ranges, we have nothing. We do not know spreads, commissions, fees, leverages, order execution methods and so on – all the key pieces of information needed to carry out trades are missing.
This is also another indication that we are dealing with a scammer.
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Single Payment Method
The only way to make payments with Trademaxpro is via cryptocurrencies. And this is yet another sign that we are dealing with a scammer.
Cryptocurrency transactions are notorious in that they are all permanent and that they are all anonymous. This means that unless you are dealing with a trusted party, you will not know where your money has gone and you will never be able to get it back.
It is wise to remember that regulated brokers offer their clients multiple payment options; they allow their clients to choose the payment method they are most comfortable with. When a broker removes this choice, then it is a signal that things are not right with that broker and it would be best to simply avoid that broker completely.
In fact, we strongly recommend that if you are dealing with a broker for the first time, then it would be best to use credit card payments. In case you are scammed, then you can at least file for a chargeback and have a chance at getting your hard-earned money back.
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No Withdrawal Policy
And finally, this broker has no withdrawal policy in place. We do not know how long it takes to process withdrawal requests. We do not know the withdrawal limits, fees or taxes and so on. We also do not know if there are any conditions to withdrawals. This lack of information is another sign of scammers.
Conclusion
Trademaxpro is just another scammer that has been added to a long list of scammers. They must be avoided.
Trademaxpro
Pros
- None
Cons
- Lack of Regulation
- Blacklisted by FCA
- Possible Serial Scammer
- No Trading Conditions
- Single Payment Method
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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