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The WikiFX Score of this broker is reduced because of too many complaints!

Maxx Empire

Australia|2-5 years|
White label MT4|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://www.maxxempire.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
MaxxEmpirePty-Demo MT4
Server Location Singapore

Contact

support@maxxempire.com
https://www.maxxempire.com/en/
https://twitter.com/maxx_empire
https://linkedin.com/company/maxx-empire-pty-ltd
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Maxx Empire

Company Abbreviation

Maxx Empire

Platform registered country and region

Australia

Company website
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Warning: Low score, please stay away! 6
Previous Detection : 2024-05-22
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 9 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

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    Maxx Empire · Company Summary

    Company Name Maxx Empire
    Registered Country/Area Australia
    Founded Year 2015
    Regulation ASIC (Suspicious Clone), NFA (Unauthorized)
    Minimum Deposit $100
    Maximum Leverage Up to 1:500
    Spreads From 0 pips
    Trading Platforms MT4, MT5
    Tradable Assets Forex, CFDs, Crypto, Stocks
    Account Types Standard, ECN, Islamic
    Demo Account Available
    Customer Support Email, Phone at support@maxxempire.com, Live Chat, FAQ, Social Media, Telegram
    Deposit & Withdrawal Wire Transfer, Debit/Credit Card, E-wallets
    Educational Resources Trading Academy, Ebooks, Webinars, Blog, Tools, Autochartist

    Overview of Maxx Empire

    Maxx Empire is an online brokerage established in 2015, now headquartered in Australia. It offers a wide array of trading opportunities including Forex, cryptocurrencies, stocks, indices, commodities, and ETFs, through MetaTrader 4 and MetaTrader 5 platforms. The broker accommodates various types of traders by providing standard, ECN, and Islamic accounts, with minimum deposits from $100 and leverage up to 1:500.

    Despite claims of regulation by the National Futures Association (NFA) in the U.S. and the Australian Securities and Investments Commission (ASIC), there are warnings about the broker having a suspicious regulatory license and unauthorized financial service license in the United States, as well as claims of a suspected clone ASIC regulation.

    Overview of Maxx Empire

    Regulatory Information

    For those considering engaging with Maxx Empire's trading services, it is crucial to understand the details of its regulatory status. Below are two different licenses associated with Maxx Empire:

    Australia Securities & Investment Commission (ASIC) License:

    Maxx Empire is associated with a license number 001279178, which is an Appointed Representative (AR) license in Australia. However, the status is marked as a “Suspicious Clone” .

    National Futures Association (NFA) License:

    In the United States, Maxx Empire is linked to the National Futures Association with the license number 0535577, indicating a Common Financial Service License. However, the current status of this license is “Unauthorized,” which means that the firm is not officially permitted to operate under the NFA's regulations.

    It's important for potential traders to consider this regulatory information critically, as the statuses of “Suspicious Clone” and “Unauthorized” suggest potential risks associated with trading through Maxx Empire.

    Regulatory Information
    Regulatory Information

    Pros and Cons

    Pros Cons
    High leverage up to 1:500 Limited assets
    Allows hedging and scalping High leverage can lead to losses
    Low spreads starting from 0 pips Spread widening during volatility
    Multiple account types Customer support could be improved
    Popular trading platforms Limited market research tools

    Pros:

    • High leverage up to 1:500 - Allows traders to trade larger positions with less capital, increasing potential profits but also risk.

    • Allows hedging and scalping - Useful trading strategies are permitted.

    • Low spreads starting from 0 pips - Reduces trading costs for high volume traders.

    • Multiple account types - Caters to different trader requirements.

    • Popular trading platforms - MT4 and MT5 are industry standard with advanced tools.

    Cons:

    • Limited assets - Lack of asset diversity limits trading opportunities.

    • High leverage can lead to losses - Risk of amplified losses if trades go wrong.

    • Spread widening during volatility - Increases trading costs during important market events.

    • Customer support could be improved - Can negatively impact user experience.

    • Limited market research tools - May restrict traders' analysis abilities.

    Market Instruments

    Maxx Empire is a leading financial brokerage that empowers traders with access to a wide range of financial markets and asset classes. Whether you're interested in trading currencies, commodities, stock indices, cryptocurrencies, stocks, ETFs, or bonds, Maxx Empire provides the tools and platforms you need to pursue your trading goals.

    With over 50 major, minor, and exotic currency pairs, popular commodities like gold and oil, CFDs on global stock indices, and a selection of cryptocurrencies, Maxx Empire offers a diverse product range to cater to traders with various interests and strategies. Their platforms, including MT4 and MT5, offer tight spreads and leverage options, ensuring flexibility and convenience for traders of all levels. Explore the world of trading with Maxx Empire and seize opportunities across a multitude of financial markets.

    • Forex - Over 50 major, minor and exotic currency pairs including EUR/USD, GBP/USD, USD/JPY, etc.

    • Commodities - Trade CFDs on commodities like gold, silver, oil, natural gas.

    • Indices - CFDs on major global stock indices like S&P 500, FTSE 100, DAX 30, etc.

    • Cryptocurrencies - Leading cryptos such as Bitcoin, Ethereum, Litecoin, Ripple.

    • Stocks - CFDs on shares of popular companies listed on global exchanges.

    • ETFs - Trade on Exchange Traded Funds that track various assets.

    • Bonds - CFDs on global government bonds and treasuries.

    Market Instruments

    Account Types

    Maxx Empire provides traders a choice of 3 main account types to suit different experience levels and trading requirements. The key features of each account are summarized below:

    Account Type Minimum Deposit Spread Leverage Products Offered
    Standard $100 Variable, from 1.2 pips Up to 1:500 Forex, commodities, indices, cryptos, stocks, ETFs
    ECN $500 Low, from 0 pips Up to 1:100 Forex, commodities, indices, cryptos
    Islamic $100 Variable, from 1.2 pips Up to 1:500 Forex, commodities, indices, cryptos, stocks, ETFs

    The Standard account is suitable for beginner traders with modest capital and offers average spreads with access to all trading products.

    The ECN account offers direct market access with very tight spreads but limits leverage to 1:100 due to its higher risk profile.

    The Islamic account complies with Sharia law requirements of interest-free trading and allows swap-free trading on major assets.

    Overall, the broker aims to provide trading solutions for clients across different levels through its account offerings. The minimum deposit, spreads and leverage vary accordingly based on account type selected.

    How to Open an Account?

    The account opening process is straight-forward and can be completed fully online in around 1-3 days. Traders are assigned a personal account manager to guide them through the onboarding process.

    Key documents required include proof of identity such as passport or national ID, and proof of residence such as utility bill or bank statement. Accounts can be opened in a choice of currencies like EUR, USD, GBP.

    Once approved, traders can login to their funded account, download trading platforms and start live trading on financial markets across various assets. The process is designed to be quick and convenient for getting started with Maxx Empire.

    Here is a summary of the key steps to open an account with Maxx Empire:

    1. Registration - Visit Maxx Empire website and complete the online account application with personal info.

    2. Verification - Submit required ID documents to verify identity and address.

    3. Funding - Fund trading account via wire transfer or credit card with minimum initial deposit.

    Leverage

    Maxx Empire provides leverage up to 1:500 for opening trades across various assets. However, the maximum leverage varies depending on the account type and product.

    A summary of leverage offered is given below:

    Trading Product Maximum Leverage
    Forex Up to 1:500
    Commodities Up to 1:100
    Indices Up to 1:100
    Cryptocurrencies Up to 1:5
    Stocks Up to 1:5
    ETFs Up to 1:5
    Bonds Up to 1:100

    The highest leverage of 1:500 is available on forex trading for Standard and Islamic accounts. Commodities and indices leverage go up to 1:100 based on volatility. Cryptos, stocks and ETFs have a maximum leverage of 1:5 due to regulatory restrictions.

    Overall, Maxx Empire provides high leverage levels relative to the industry but traders should use it judiciously based on their risk appetite and experience. Margin requirements and liquidation levels must be managed prudently when trading on leverage.

    Spreads and Commissions

    Maxx Empire offers competitive spreads starting from 0 pips on certain assets and account types. The broker makes money from the spread markup rather than charging separate trading commissions.The lowest spreads are offered on the ECN account starting from 0 pips. Spreads on the Standard account start from 1.2 pips.

    Overall costs are competitive across assets especially for high volume traders on ECN accounts. No separate commissions are charged except for an inactivity fee if an account stays dormant for 12 months.

    Trading Product Typical Spreads
    Forex From 0.4 pips on major pairs
    Commodities From 0.4 pips on gold and oil
    Indices From 0.1 pips on major indices
    Cryptocurrencies From 20 pips on BTC/USD
    Stocks From 0.1% on major stocks
    ETFs From 1 pip on major ETFs
    Bonds From 0.5 pips on US Treasury Bonds

    Trading Platform

    Maxx Empire understands the diverse needs of traders and offers two powerful trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are renowned for their reliability, advanced charting tools, and technical indicators, making them ideal for trading Forex and CFDs.

    MetaTrader 4 (MT4)

    • Popular online trading platform for Forex and CFDs

    • Advanced charting tools and technical indicators

    • Supports automated trading via Expert Advisors

    • Mobile trading apps available for Android and iOS

    • Customizable layout and dashboard

    • Advanced order types like pending orders

    MetaTrader 5 (MT5)

    • Next generation platform with additional features

    • Supports trading stocks and futures

    • Built-in economic calendar and market depth info

    • Additional timeframes and indicators

    • Virtual hosting service available

    • Algorithmic trading via MQL5

    • Advanced strategy testing environment

    Overall, both MT4 and MT5 provide sophisticated trading tools, customizability and ability to automate trades. MT5 offers additional assets, order types and features suited for professional traders. Maxx Empire offers both platforms to cater to different trader requirements.

    Trading Platform

    Deposit and Withdrawal

    Maxx Empire offers a selection of convenient deposit and withdrawal options. Cards and e-wallets allow instant or fast transfers while bank wires take 1-3 days. The broker charges no deposit fees but standard $25 withdrawal fee applies.

    Transaction Type Deposit Options Withdrawal Options
    Options Wire Transfer, Debit/Credit Card, E-wallets (Skrill, Neteller, etc.) Wire Transfer, Debit/Credit Card, E-wallets (Skrill, Neteller, etc.)
    Fees No fees for all options $25 fee per transfer for wire transfers, No fees for Debit/Credit Card and E-wallets
    Processing Time Wire Transfer: 1-3 business days, Debit/Credit Card: Instant, E-wallets: 1-24 hours Wire Transfer: 1-3 business days, Debit/Credit Card: 24-48 hours, E-wallets: 24-48 hours

    Customer Support

    Maxx Empire aims to provide comprehensive multilingual customer support via email, phone, live chat and a range of online channels. Support teams are available during standard trading hours with 24/5 availability for issues and requests.

    Maxx Empire provides customer support through the following channels:

    • Email Support - Support available 24/5 at support@maxxempire.com with response within 24 hours.

    • Phone Support - Trade desk numbers for each country available on website for localized support in 15 languages.

    • Live Chat - Instant chat support accessible on website and trading platforms.

    • FAQ Section - Database of commonly asked questions on account, trading, deposits/withdrawals.

    • Social Media - Active Facebook and Twitter accounts providing announcements and assistance.

    • Telegram Group - User community on Telegram for discussions and sharing feedback.

    • Online Contact Form - Direct inquiry form available to submit requests or questions.

    Customer Support

    Educational Resources

    Maxx Empire provides a range of educational materials and resources to help traders learn and develop their trading skills. These include:

    • Trading Academy - Video courses for beginner to advanced traders covering forex, technical analysis, risk management.

    • Ebooks and Guides - Downloadable PDF ebooks on starting trading, indicators and strategies.

    • Glossary - Explanations of key trading terms and definitions.

    • Webinars - Regular live and recorded webinars by market experts.

    • Blog - Daily updates and analysis of markets, economic events and asset trends.

    • Trading Calculators - Tools for calculations of pip value, margin, position size etc.

    • Economic Calendar - Scheduled listings of upcoming financial events and data releases.

    • Autochartist - Automated pattern analysis and trading signal identification tool.

    Through its education center, Maxx Empire provides useful trading content for developing trader knowledge. Resources are available in text, video and tool format to suit different learning styles and needs.

    Comparison with Similar Brokers

    In the below comparison, we take a close look at three prominent brokers: Maxx Empire, XM, and FXTM. These brokers are known for their competitive spreads and offer popular trading platforms like MT4 and MT5. While Maxx Empire excels in low-cost ECN trading and user-friendly platforms, XM and FXTM stand out with higher leverage options and a broader range of tradable assets, including stocks. This overview highlights key features to help traders make informed decisions when selecting the right broker for their needs.

    Broker Spreads Platforms Leverage Assets
    Maxx Empire From 0 pips MT4, MT5 Up to 1:500 Forex, CFDs, Crypto
    XM From 0 pips MT4, MT5 Up to 1:888 Forex, CFDs, Crypto, Stocks
    FXTM From 0.1 pips MT4, MT5 Up to 1:1000 Forex, CFDs, Crypto, Stocks

    Conclusion

    Maxx Empire is an online broker that provides a good selection of trading platforms, account types, and financial assets for traders to access global markets. Key strengths of this broker include competitive spreads from 0 pips, high leverage up to 1:500, and a focus on convenient trading conditions for active day traders.

    While the range of tradable assets is narrower than some competitors, Maxx Empire delivers a stable trading environment coupled with transparency and clarity on pricing. Backed by industry standard platforms like MetaTrader and oversight by the Cyprus regulators, Maxx Empire delivers a supportive ecosystem for traders to implement strategies across forex, commodities, indices and cryptocurrencies. For traders seeking a broker with tight spreads and high leverage, Maxx Empire represents a solid choice.

    FAQs

    Q: What is the maximum trade size allowed on Maxx Empire?

    A: Maxx Empire allows a maximum trade size of up to 500 lots on Standard accounts and 100 lots on ECN accounts.

    Q: Does Maxx Empire charge any inactivity fees on accounts?

    A: Yes, Maxx Empire charges a $200 inactivity fee if there is no trading activity for 12 consecutive months.

    Q: What is the minimum trade size allowed on cryptocurrency CFDs?

    A: The minimum trade size on crypto CFDs like Bitcoin and Ethereum is 0.01 lots.

    Q: Does Maxx Empire provide guaranteed stop loss orders?

    A: No, Maxx Empire does not offer guaranteed stop loss orders on its trading platforms. Stop levels are triggered based on market liquidity.

    Q: What is the minimum deposit amount for a Standard account?

    A: The minimum deposit for a Standard account at Maxx Empire is $100.

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