MaxVol Review – Brokerage Scam Trying to Defraud Investors

Is MaxVol a Forex & Crypto Trading Scam

We were able to gather some valuable information about MaxVol broker while the domain was still active. The company provided a German phone number for support, but not an address or the name and title of the owner.

What does this mean for MaxVol regulation, then? Section 54 of German Banking Act (KWG) states that carrying out a business without the required license is a crime. We therefore checked the BaFin database. We found a warning about this scam instead of an approval.

MaxVol, which is allegedly an EU broker, would also need to adhere to ESMA rules concerning leverage caps. For FX pairs, the maximum leverage is 1:30. However, for cryptocurrencies, it can only be 1:2. MaxVol, however, promises up to 1 500 leverage which exposes your funds directly.

Please let our team know if you have more information about the fraud. The stories of our customers have been the best weapon against online swindlers.

MaxVol is an anonymous brokerage pretending to be German-based. BaFin, Germany’s financial regulator, has issued a warning about MaxVol.

MaxVol Broker Scam – Official Warning

In November 2022, the German regulatory body, BaFin, issued an official warning against MaxVol brokerage. This warning states that the firm does not permit trade.

MaxVol disappeared just a few days later, leaving investors without funds. The login to the domain is now impossible. This is a great example of why you should avoid unregulated trading companies.

Are MaxVol Scam Victims Living in Canada?

According to GoDaddy WHOIS, maxvol.co was active from the 5th September 2022. It vanished in November, however. It was a scam of short duration that left victims with:

• Germany
• Austria
• Italy
• Finland

This is a very small number. It doesn’t matter where you live, fraud should be reported immediately.

What trading platforms are available?

The MaxVol trading platform, which is quite surprising, is a very functional WebTrader. You can find many charts and indicators such as Stop Loss, Take profit, and even pending orders. It is easy to use, so even new traders can use it.

It doesn’t improve the broker’s credibility. Even though the software is solid, it doesn’t change the fact that this broker is a fraudster. The company also doesn’t offer third-party platforms such as MT4, MT5, and cTrader which would be better for investors.

Mobile traders

MaxVol’s mobile app is unavailable. Both iOS and Android users must connect via a mobile web browser. This is very difficult. You should be able access your account quickly in the event of an emergency. Third-party software such as MetaTrader is essential.

MaxVol offers what trading assets?

MaxVol offers five types of trading instruments

• Currency pairs – EUR/USD, USD/ILS, USD/ZAR
• Commodities – gold, natural gas, corn
• Shares – Amazon, Alibaba and Intel
• Indices – NASDAQ, FTSE100, DAX30
• Cryptocurrencies – BTC, USDT, USDC

They claim to be offering a crypto-payback program that looks very much like an MLM scheme.

Fees and spreads

We are unable to verify spreads or other trading fees as the platform has been removed from service. Scam brokers do not care about fees. MaxVol shows that they plan to disappear along with your entire deposit.

Comparing Trading Accounts – What is the Difference?

We were offered four MaxVol account types.

• Entry Level Spread 1.5 Pips, Leverage 1:200
• Default – spread 1.5 pips, leverage 1:400
• Premium – spread 0.8 pips, leverage 1:500
• VIP – spread 0.0 pips, leverage 1:500

Bonuses range from 30-100% for accounts. MaxVol requires a minimum deposit of $250. However, to upgrade to an Entry-Level account, you will need $10,000. This is quite high.

How do I withdraw money from my MaxVol account?

MaxVol withdrawal can be made by following:

• Credit/debit card
• Bitcoin
• Wire transfer

The company did not provide any additional details about the withdrawal process, such as the time. It appears that they don’t plan on paying out a payout. It’s possible to not get your penny back because the site access is restricted.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

MaxVol: Video

Below you will find a short video about MaxVol. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about MaxVol!