The interface of AmymaxTrade looks impressive with the 5 winning awards that are displayed on the screen which may inspire confidence with potential clients that they will be able to join the 200,000 traders who have made money trading with this broker.
Sounds good, right? However, before you entrust your precious money to this company you better make sure that it will be safe. Here are the facts.
NOTICE: In as much as Team Xycinews aims to deliver a near perfect review, we have a lot of Platforms on our Log to review & a lot already reviewed. Sadly this limits us from backdating to track the status of already reviewed platforms.
Kindly note that the platform information were correct as of time of publishing but might turn out to be SCAM without our notice.
Always check our article’s published date & the comment section below for users opinion. Thanks ♥️
AmymaxTrade Options is selling itself as the perfect go-to platform for online trading. Once you land on their homepage, it’s easy to fall for their enticing interface. And this is the only thing that these scam artists got right.
The platform has an engaging homepage that easily leads one to believe that this is a genuine brokerage. Behind all the design and enticing aesthetics, there’s something totally wrong with the platform.
One way of ensuring naïve investors sign up is by selling itself as a reputable platform. The claim of having over 200,000 active traders is one lie we must expose. It’s barely three months since this website started, and this number is unlikely.
They also claim to offer a winning strategy that guarantees members profit with each trade. Make no mistake, even experts and robots don’t make such bold claims. There’s the ever possibility of making losses in trading.
You can deposit using three currencies, US Dollar, British Pound, and Euro. Depository options include Bpay, Credit and Debit cards, Neteller, and Wire transfer. Expect no withdrawal as it’s clear Tracy Davis and others haven’t seen any withdrawals.
The platform has a custom-made platform that claims to have more than 200 assets. Their custom-made platform is dubious and doesn’t offer advanced tools. Stay away from this ridiculous trading platform.
With the platform not following due process and failing to register, funds are not safe. Once you deposit with this platform, you must as well kiss your money goodbye. These are scam artists who will use any trick to get naïve investors into signing up.
While documenting this AmymaxTrade review, I did my best to search and found no information on the founder of this platform.
I believe knowing the background record of a brand owner is a step forward into knowing how legitimate it is and the reputation of the Profile.
AmymaxTrade provides no verifiable information about who owns or runs the company on its website.
AmymaxTrade clients can benefit from 5 trading
accounts- Basic, Bronze, Silver, Gold, and Platinum.The initial deposit for the Basic account is $250. The other accounts start at $1,000, $2,500, $10,000 and $25,000 respectively.
To feed their accounts, clients can choose between payments made via credit card, Neteller, BPay, or bank wire.
There is no information on what the minimum
withdrawal amount is. However, this broker charges some hefty fees that clients should be aware of. For example, there is a clearance fee which is 0.5% from every trade, both winning and losing with a maximum of $1,000.
In addition to that, all withdrawals are charged a
service fee of 3.5%. However, the maximum withdrawal fee is capped at $3,500.
Is AmymaxTrade Safe and Credible
From the Contact Us section, we see that the address of the company’s headquarters is in the US. However, in the Terms and Conditions document, we see that clearing and billing services are done by TLC Consulting Ltd with an address in the Marshall Islands.
US brokers are regulated by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC). We searched the register of NFA but the name of the broker was not in it. This is sufficient proof that this broker non-registered and non-legit, therefore, trading with it will expose your precious money at risk.
Is AmymaxTrade Legit
US brokers are strictly regulated and they must meet stringent requirements in order to get their license. First of all, they must be well-capitalised which means that they must invest the impressive amount of $20 million in the form of initial capital.
Also, they are subjected to the so-called ‘first in, first out’ rule which means that traders are not allowed to go long and short on the same pair at the same time and hedging is not allowed. In addition to that, US brokers must meet certain reporting requirements and provide their clients with access to certain transaction execution data.
Where leverage is concerned, US brokers cannot offer leverage higher than 1:50 for forex currencies which is one of the measures for protecting clients’ funds.
Is AmymaxTrade Scam
Primarily, Xycinews Media contents is to give an overview of platforms and what they entails to help you decide if proceeding with them or Investing only what you can afford to lose.
- Do you think AmymaxTrade is scam?
- How you being defrauded?
With a lot of platforms on our desk to review for the general public, we might not be able to keep track of AmymaxTrade on a regular. Please help us by dropping a comment and this will help other potential investors from falling prey or proceeding to invest.
In Summary – Is AmymaxTrade Legit or Scam
The disclaimer at the footer of their homepage claims the platform resides in the United States. They claim that the headquarters in Los Angeles, which is not the case. We did a thorough check with authorities and found no broker licensed under this name.
Both the CFTC and NFA have not heard of this broker. It goes without saying that AmymaxTrade is not a legit trading platform. Your funds are at risk as the broker fails to inform users of their compliance.
Starting a brokerage business in the United States is no easy task. You must deposit $20 million with authorities as insurance cover for members. The compliance is strict, and this is the reason most scam artists hide behind offshore jurisdictions.
There’s no way this broker has even attempted to license their platform. It would be best to look out for such websites as they don’t even post their registration number. These are obviously scam artists.
This AmymaxTrade Review Article isn’t aimed at defaming AmymaxTrade nor is it targeted to promoting them.
This article is strictly for enlightening purposes and a honest guide from our perspective because we strongly believe every brand needs a good background check.
Therefore, you are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with us via the comments box below so as to further improve this AmymaxTrade review.
Team Xycinews is no third party and we can’t handle any queries whatsoever.
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