Amymaxtrade Review: Is AmyMax Trade Legit or Scam?

Amymaxtrade.com is operated by crooks who will not tell the truth, despite offering “Forex and CFDs trading services to over 200,000 traders“. The website of AmyMax Trade is claiming to be one of the best Forex brokers because they let traders choose what they want before they can be “led to open the best account type for their needs”. The broker does not have a minimum deposit requirement because they’re willing to scam you any amount.

If you would like to get a good broker who will provide you with all the necessary features and not scam you in the end, this list of brokers is what you should look at. Since trading is not a walk in the park profession, you must start from somewhere in order to get it right. For that reason, I encourage you to go for any of these recommended services as you have the option to choose trading education, automated trading or signal alerts.

Amymaxtrade Review: A pretty website with decent features and supposed benefits

The most outstanding feature of AmyMax Trade is the form that visitors fill out in order to get an account that is most suitable for them.

This form is a double-edge sword because the broker is being personal by collecting discret information such as your income sources or investment portfolio. We feel that this is personal information.

Amymaxtrade also wants you to choose the minimum deposit that you would like to start with.

While all of this may seem innocent from the trader or an investor’s perspective, it is actually a trick that the broker is using to gauge your financial capacity. Once they have an estimate of how much you’re worth, Amymaxtrade will engage you in a unsolicited phone call. This is meant to pursuade you to deposit more money into the broker’s bank account.

Amymax Trade company and background details

Amymaxtrade suggests that they are headquatered in the US. However, the payment processor is a company that is based out of Marshall Islands. This entity is called TLC Consulting Ltd.

The most interesting thing is that Amymaxtrade is not regulated or registered in the US.

The financial services regulating entity in the US is called NFA or the CFTC. Neither Amymaxtrade or its associated entity (TLC Consulting Ltd) is registered by the US financial regulators.

We all know that Marshall Islands is an offshore jurisdiction that is associated with scammers who run illegitimate financial services.

Obviously these fraudsters don’t have any license. They thrive by cheating clients and having their victims wire huge funds to their bank accounts which are based in offshore regions like Marshall Islands, Virgin Islands and so on.

Some of those scam brokers include Direct Trading Technologies, ProfitMarket, West Capital International and so on.

Amymaxtrade trading platform, instruments, spreads and leverage

They offer the popular MetaQuotes trading software. All of their account types come with daily market overview, education materials, live webinars, analysis and price alerts.

Traders who can deposit $10,000 or more will allegedly be treated to additional benefits such as dedicated account manager, personalized trading strategies, one-on-one training and free signals from Trading Central.

The truth is that Amymax Trade is using these features to entice you to deposit more money.

If you fall into the trap, then you must be sure that you will be frustrated when it comes to cashing out your profits and original deposit as well.

The broker is also claiming to give access to 200 tradeable instruments and maximum leverage of 1:500.

They claim that the platform has super low spreads but no specific spreads have been listed on a page or table.

What to do if you have been scammed by this broker

Now that the broker is promising bonuses, and other enticing features, some traders are likely to be scammed.

As you can see, they also suggest that Amymax Trade has also won awards but upon investigating these awards, we end up with evidence that says they are fake.

The broker was launched in December 2020 yet their website states that they have been winning awards since 2014. How is this possible?

Long story short, if you have lost money here, just fill in the form that I included in this review or utilize the live chat down below.

Your case will be looked at and if you qualify for a chargeback, trust me, you will get your lost funds back no matter how much you lost.

The agency works in tandem with financial institutions and law enforcement entities. So it won’t be an uphill task helping you.

The conclusion

Despite having a pretty decent website, Amymaxtrade is a scam and their aim is to pounce on your wallet.

We urge you to stay away from such brokers. And if you have a bad experience with this broker, don’t hesitate to ashame them in the comment section.