MinimaxFX is an inconsiderate investment platform that openly defies trading regulations. Once you sign up with Minimax F.X., expect no withdrawals. For the past few months, members have been having a hard time withdrawing funds from minimafx.com. Those who manage to withdraw only get partial amounts. And this is the reason we must expose the platform for putting funds at risk. Please get to know more in our exclusive MINIMAXFX REVIEW.
The platform has a weird homepage with poor navigation. There are way too many pages to go through. And this is not what you would expect on a trading platform. You want a straightforward platform and price. MinimaxFX is not that!
Although the platform claims to have its headquarters in London, we dispute it. The platform has no ties with England. We believe this is another offshore broker trying to take advantage of naïve investors.
By using the U.K., the platform wants to appear as if they adhere to strict regulatory rules. But, unfortunately, it’s the exact opposite as the platform has no way of proving its existence. And these are some of the many red flags we must raise.
When looking for a reliable investment platform, the best option is to go for proven strategies. These include innovative ways such as coin staking, DeFi, and Masternoding. It’s the only way to ensure your safety in investing and trading.
There’s a lot to talk about when it comes to the features Minimax F.X. offers to clients. First, however, we feel we have to inform users of the risks of investing with an unregulated platform. There’s no way of protecting yourself from such a platform once you decide to invest with them.
Your first step when you decide to invest is doing thorough research on the platform in question. Get to know what others are saying about the platform. It will help you make a better and informed decision. You could also read our reviews on Crypto and forex platforms for clarity.
Minimax F.X. offers users four account types to choose from. These accounts include Live, Islamic, PPMS, and Funded. There’s also an option of having a custodian account and a guided account.
Let’s take a closer look at the four accounts
Live
The first problem we see with their basic account is the high leverage. There’s leverage of 1:1000 with the live account. The acceptable minimum deposit is $10, which is fair to most. 0.9 pips are the spread available for this account.
Islamic
It’s rare to see an Islamic account with a leverage of 1:1000. The account is similar to the live account, with only the name as the distinctive difference. We don’t see why the platform would offer two accounts with the same features.
PPMS
There’s a minimum acceptable deposit of $1,000 with the platform. Spreads start from 2.9 and come with adequate leverage of 1:100. Unfortunately, the account doesn’t list the proper minimum lot size.
Funded
It’s the most exclusive account, with investors having to deposit $1,000 to get started. The leverage is set at 1:100 and shares the same spreads as the PPMS account. None of these accounts mention available trading instruments.
For the fund management account, the platform promises an average of 2 percent ROI. It seems the platform is open to having new account managers. Once you sign up with any account, the platform assigns an account manager.
The only problem is that these account managers are not professional. As a result, you will get calls urging you to invest in several options. Unfortunately, none of the options on the table will be within the minimaxfx.com range.
To try and sweeten the deal, the platform claims there are only a few slots remaining. However, you will get a promise of making a high ROI within a short time. And this is what investors want to hear. So investors play right into the song of these account managers.
After funding the investment platform, it’s the last you will hear of the account managers. Trying to contact support is not fruitful. Instead, support will claim the account manager in question is out on leave.
There’s another avenue the platform uses to get you to sign up more clients. The platform has an I.B. program that claims to help members earn passive income. However, before taking the plunge and signing up, there are a few things to note.
The people you likely direct to the platform will blame you for any losses. There’s no ample support from the platform, making you the potential target. Such platforms will make you lose your reputation as a strategic affiliate marketer.
MinimaxFX Limited is the entity we are informed owns the platform. However, after checking with the Company House U.K., we didn’t find any such entity on the registry. And this makes MinimaxFX an anonymous platform.
You will also notice the platform does not have any names listed on the homepage. This is because we don’t know the names of the CEO or CFO of the platform. Without the founder’s name and staff members, the platform is far from being transparent.
When you decide to investigate, check whether a platform offers convenient support. If there’s no explicit support structure, it’s best to stay away from it. For example, despite having a chat tab, the response time is nearly 20 minutes.
After waiting for over 20 minutes, we had a bot talk instead of a real agent. The platform doesn’t list any direct means of communication. There’s no email or phone number one can use to send any inquiry.
You have to sign up first before getting any contact from the platform. We have seen this type of communication before, one-sided communication. The platform wants to control the communication process.
At least members can test their skills with the demo account. It’s one of the few positive features we found on the platform. The demo account also comes with the MT5 trading platforms. So It helps members horn their trading skills without losing actual funds.
Depositing funds is a straightforward process as the platform allows bank and wire transfers. The amount will reflect in your trading account within 24 hours. Withdrawing funds after trading remains a hurdle for members.
Most of the members get stuck when attempting to withdraw. Those who tried to withdraw three times get their account blocked. And this is the reason why regulators want to blacklist Minimax F.X.
Minimax F.X. is not a regulated platform and doesn’t offer investors any compliance documents. You would expect the Financial Conduct Authority to be the regulator in this case. However, the FCA doesn’t have any platform licensed with the above name.
And this means investors are putting their interest with an anonymous and unregulated platform. These two features are what you should avoid in any investment venture. The lack of oversight means the platform is free to operate as they wish.
Ensure the platform you choose guarantees the safety of funds. If the platform lacks any regulation, the security of funds is out of the question. For example, the platform does not insure deposits made by investors. Please stay away from Minimaxfx.com or risk becoming their next victim.
We have to protect our readers by adding Minimax F.X. to our blacklist.
Choose wisely and go for groundbreaking investment strategies backed by financial experts. It’s the safest way to invest.
Feel free to leave any comments or write to us.
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.
0 Comments