Budapest situated forex broker Remaxima claim to be a handy tool to do foreign exchange trading. It further alleges that their services are easy and safe. Five trading accounts are served to its clients. The trading environment is not known. Also, it only provides a UK based telephone number. Whatever Remaxima claims we don’t feel good about it. Because it is not regulated and blacklisted by FCA. This Remaxima review will make sure to cover all the possible details of this broker.
The five distinct trading accounts are Beginner, Standard, Business, Premium, and VIP. The minimum first investments of $250, $5000, $25000, $50000, and $250000 needed to open these accounts respectively. Sadly, provided the reading environment and its values are not shared by the broker. Always keep in mind that the legit brokers never hide crucial information from its clients. Such opaqueness is followed by only scam brokers.
The other crucial factor in the trading market is regulated and licensing. The broker Remaxima fails to convey its owner’s name and any regulation. The broker is situated in Budapest, Hungary. Hungarian brokers must be regulated by its local financial regulator Magyar Nemzeti Bank or MNB. However, we could not find the name of Remaxima on the registry of MNB. The broker also shares a United Kingdom-based telephone number so we thought it must be regulated by the Financial Conduct Authority. Unfortunately, we have seen a scam broker warning against Remaxima issued by FCA. Now it is evident that the broker Remaxima is a potential scam broker.
Another point to make here is the broker claims to provide MetaTrader trading platform. Nevertheless, we could not find a download link of it anywhere on the official website. The broker urges to open an account with it to avail the facility of MT. Furthermore, there are very few payment options are provided like visa and master card. Also, the swift transfer is in place. Sadly, no direct bank wire transfer and electronic wallets are available. It makes trusting Remaxima hard as credit card transfers could not be tracked instantly. A free demo account is not available and because of this we certainly don’t know what trading instruments are provided by it.
Is Remaxima scam or legit?
The broker is offshore based with no proper regulation. It is also blacklisted by the Financial Conduct Authority of the UK. Trading conditions are not known and the initial investment is not acceptable taking account if unregulated nature. We could not confirm the presence of MT and provided trading instruments. All of this is a sing of potential scam broker 2020.