Do you want to trade with Viewmaxfx? Why Viewmaxfx.com is not a genuine broker! Read detailed Viewmaxfx FX review to know about this platform.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Viewmaxfx?
Viewmaxfx FX also known as Viewmaxfx.com is an offshore brokerage company owned and operated by VIEWMAXFX LLC with a lot of promises for forex traders. The company is incorporated in St. Vincent & the Grenadines.
What is more, there are different account packages showed on the website.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Viewmaxfx Minimum Deposit:
Viewmaxfx deposit is shown $10 according to the account type. Even though this seems to be a good offer to start with, clients and traders must be more interested in investing in a licensed brokerage where they are sure of their funds.
In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with no fear of their investment.
As for the funding methods, the broker appears to accept options like credit cards and bank transfer.
Just so you are aware, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Viewmaxfx withdrawal FX leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Viewmaxfx platform FX claims to use easy-to-use platform and Metatrader 5 (Industry standard trading platform). What you must know is that, the claim to offer MT5 don’t make the broker genuine in the service because any scam broker can do the same to appear real and lure forex traders/ clients.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
As for Viewmaxfx leverage, it can get up to 1:500. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why You Should Avoid Viewmaxfx.com Forex Broker
First and foremost, Viewmaxfx.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
A quick check on the broker, St. Vincent and the Grenadines doesn’t license forex brokerage activities and the proof can be found on the website of the local Financial Services Authority (FSA) – there is an official warning explaining all the risks of dealing with unregulated brokers
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Viewmaxfx Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Viewmaxfx FX located at Viewmaxfx.com claims to appear like a trustworthy trading broker, however, that cannot be ascertained. By all appearances, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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