Caution: Beware of the Offshore Broker Max Global Fx

Finding a reliable forex broker is essential for your successful trading journey. There have been many incidents where people lost thousands of dollars to scam entities. The worst part is that you can't even file a case against fraud brokers. Max Global Fx is one of those unregulated entities investors have reported for their lousy code of conduct. Let's discuss how the broker defrauds clients.

Quick Overview

Max Global Fx(https://maxglobalfx.com/) is an offshore broker based in St. Vincent and Grenadines. The company claims to have been serving the industry for over a decade. There is no information concerning the available selection of financial instruments, educational resources, legal status, fees and commissions on the company's official website. Clients can only find an option to register or a link to download the MT4 on their desktops.

Is Max Global Fx Regulated?

No, Max Global Fx is neither authorized nor regulated anywhere in the world. Interestingly, it isn't even registered with the Financial Services Authority of Saint Vincent and Grenadines (SVG FSA).

Clientele Feedback

Max Global Fx is one of the most poorly rated brokers we've reviewed. The company holds a devastating reputation amongst clients. People have complained about the company's account closure issues, withdrawal problems, worst trading conditions, and poor customer support on various platforms, including the BrokersView. Let us share some screenshots below.

How does Max Global Fx Scam Investors?

Max Global Fx strategy to scam people is almost the same as that of other scammers. When a client attempts to register with the company, a registration form appears where the broker collects basic details about its potential prey.

As soon as clients finish the registration process, the company's customer support staff or marketing agents call them and push them to add funds to their accounts, luring them into false profit-making deals. The broker keeps calling over and again unless a client makes a deposit.

When clients add funds to their accounts, the broker stops responding to them. It neither attends telephone calls nor does it reply to their emails. The company doesn't entertain withdrawal requests either.

What Makes Us Believe Max Global Fx to be a Scam Entity?

First of all, the company isn't registered anywhere. Secondly, it doesn't hold regulations, not even from a two or three-tier regulatory authority. Thirdly, no information is available concerning the company's inauguration date, board of directors, relevant financial markets, supported trading platforms, available account types, offered payment methods, etc. With only a landing page at your disposal, the company seems to be only concerned with clients' deposits and nothing else. Further, the adverse clientele feedback supports our concerns about the company being too good to be true.

Bottom Line

The forex market has been overpopulated with good and scam brokers, making it difficult to find a reliable forex broker, especially for newcomers. Therefore, it is better to sign up with a regulated entity, preferably a reputable one, to stay protected. Although regulations don't necessarily mean that you are all safe, they offer a better sense of security. Above all, you have legal protection if the company mistreats you.