|

Information

    Home   >     Original    >     Main body

    MAXO blocked withdrawal requests and might have escaped

    Abstract:WikiFX just received a complaint from investor that MAXO blocked withdrawal applications. And investor couldn’t reach the broker anyhow.
    微信封面EN.jpg

      WikiFX just received a complaint from investor that MAXO blocked withdrawal applications. And investor couldn' t reach the broker anyhow.

    描述.png

      Investor reported MAXO to WikiFX

      Investor provided ID card to ensure an authentic complaint.

    身份证.png

      Investor' s ID card

      1. Opened account

      Mr. Wu heard about MAXO from a friend and opened an account on the platform in early 2018, making loss or profit in trading now and then. As platform deposit and withdrawal service work normally, he made a few more deposits to MAXO.

    入金.png

      Mr. Wu' s deposit record

      2. Withdrawal attempts blocked

      Until March 1st, 2019, Mr. Wu was able to receive money promptly after submitting withdrawal request. But unexpectedly, his withdrawal request filed on April 8th was delayed for days by MAXO.

    出金.png

      Mr. Wu' s withdrawal record

      3. Emergency Announcement

      When Mr. Wu tried to find contact information at the website of MAXO, he found an emergency announcement that they were communicating with MT4 provider about related software problem, and started to upgrade their system at 7 am (GMT+8), April 8th, 2019 to avoid investment risk and trading information interruption.

    公告.png

      Emergency announcement on MAXO' s website

      4. Customer service out of reach

      Mr. Wu tried to contact MAXO through different ways including QQ, phone call and email, but failed.

    对话.png

      QQ message history

      Later, Mr. Wu contacted MAXO by phone, but couldn' t get through.

    官网.png

      Contact information on MAXO' s website

    无人接听.png

      Phone call history

      Mr. Wu didn' t receive any email reply.

    邮件.png

      5. Money in account can' t be withdrawn

      With customer service out of contact, MAXO kept on delaying Mr. Wu' s withdrawal request by system upgrade. Now, he still cannot withdraw the money in his account.

    余额.png

      About MAXO

      Regulation Information

    监管.jpg

      MAXO' s regulation information from WikiFX App

      Further investigation shows MAXO holds FCA(UK)' s license for investment consultation services. Without authorization in Forex brokerage, it operates in overrun business, having considerable risk.

      MT4/5 Verification

    MT4.jpg

      MAXO' s MT4/5 software verification from WikiFX App

      Verification from WikiFX App suggests MAXO uses white-label MT4 software with servers set up in China and the US respectively. WikiFX reminds investors that white-label brokers are usually low in cost and therefore bear considerable risk.

      Network Diagram

    族谱.jpg

      MAXO' s network diagram from WikiFX App

      Network diagram shows MAXO is related to 2 white-label brokers, MX and FXPHC.

      In the article posted on August 27th, 2018, WikiFX had already exposed FXPHC for rejecting investors withdrawal request. Once again, we remind investors to beware of potential risk.

    app.jpg

      MAXO' s interface from WikiFX App

      Rated at 4.25, MAXO operates in overrun business and has closed its withdrawal channel with the excuse of system maintenance, leaving investors unable to withdraw, while its customer service is unavailable. All these indicate significant risk. WikiFX reminds investors to stay away from overrun brokers to avoid potential risk, and carefully check broker' s compliance before investing to ensure the safety of your assets.

    Latest News

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Amount
    -- United States Dollar
    Warning

    Please ignore this e-mail if you have not registered for WikiFX membership; Of course, you are cordially invited to become WikiFX member.

    Given the complexity of forex industry, some brokers are issued legal licenses by regulation institutes by cheating. If the data published by WikiFX are not in accordance with the fact, please use Complaints and Correction function to inform us. We will check immediately and publish the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Notice: Information provided by WikiFX is only for reference and does not indicate any investment advice. Investors should choose brokers by themselves. The risk involved with brokers is not relevant with WikiFX. Investors shall bear the relevant consequences and responsibilities on his own.

    ×

    Select Country/District