The first thing we do when checking out a new broker, whether it’s MaxiWyse or our Buxberg review, is to take a look at what it has to offer. We’re checking to see what – if anything – makes it stand out from the crowd. After all, it’s starting to look very much like a trader’s market these days, with so many online brokers clamouring for attention.
Unlike some brokers, MaxiWyse doesn’t offer any bonuses to new clients. But that’s not necessarily a bad thing, in our opinion. A confident broker doesn’t need to rely on flashy promotions or gimmicks to draw in new clients. And according to the findings of our MaxiWyse review, the broker is keen to offer a superior trading experience to everyone, experienced or not.
There’s a lot to look forward to at MaxiWyse
If you’re already familiar with the online trading world, you’ll be delighted to discover that MaxiWyse covers a number of markets. Once you’ve signed up and had your new account details verified, you’ll be able to start trading currencies, stocks, indices and energies. You’ll be able to conduct all your trades from one single platform, optimised for mobile use and with global reach.
But that’s certainly not all you’ll have to look forward to! Our review of MaxiWyse uncovered above-average leverage of 1:400, as well as the opportunity to trade over 1,500 instruments. Rapid order execution means trades can be timed to within a fraction of a second, and the broker provides a range of tools to fine-tune your trading experience exactly how you like it.
A broker that suits beginners too
Whereas some broker sites use complex terminology and are clearly aimed at those in the know, our MaxiWyse review found that’s definitely not the case here! Far from it, in fact, as the site is packed with useful resources that will soon have you trading with confidence. Educational tools are designed to improve your knowledge as you trade. As your experience grows, you’ll have the ability to move up to another account, which will offer enhanced features, allowing you to develop and refine your own personal trading strategy.
Signing up is quick and easy at MaxiWyse
Simply click or tap on the Register button, which is prominently displayed at the top of the screen. You’ll need to fill in a few personal details, including your name, address, date of birth etc, then select your preferred currency from the drop-down menu – choose from USD, EUR, GBP or AUD.
The final step is to confirm that you are not a US Person, as defined within the site’s T&Cs. Residents of the US are not currently permitted to sign up to MaxiWyse, even if only temporarily residing there. Once your ID has been verified, in accordance with the site’s KYC policy and AML regulations, you can deposit funds and start trading!
Take a look at our FiatVisions review, and you’ll see that we place strong emphasis on a user-friendly website that’s accessible to all traders. So in this section of our MaxiWyse review we present our findings about the overall user experience you can expect. And we were certainly impressed from the outset. A cool white, black and orange colour palette gives the site a fresh, modern look, as well as being easy on the eye.
Navigational links are as clear as you could hope for, enabling you to get to the parts of the site you’re most interested in. Pages load quickly across all platforms, and there’s a strong emphasis on providing a positive mobile trading experience. You can trade directly from your device browser, or download iOS and Android apps from the links provided on the MaxiWyse site.
Our MaxiWyse review found a range of accounts that have been designed to suit every type and level of trader. Whichever one you select you’ll benefit from a trend towards commission-free trading.
Possibly the only real gripe we’ve come across during the course of our MaxiWyse review is the high minimum deposit requirement at the lower end of the trading ladder. You’ll need to fund your account with at least $5,000, or equivalent, before you can make your first trade – and that’s going to rule out quite a few investors straight away. But if you can comfortably afford that minimum deposit, this entry-level account gives you immediate access to 1:400 leverage and access to multiple markets. Market prices are competitive, and you’ll find all the help and support you need at every step of your trading journey. Make full use of the site’s resources and you’ll learn how to use the strategy and indicator tools that will help to take your trading to the next level.
Once again, MaxiWyse surprised us a little with a minimum deposit requirement of $25,000 or equivalent. But as with the Rookie account, you’ll be able to start trading straight away across over 1,500 instruments with high leverage and tight spreads. Not only will you be able to take advantage of the broker’s competitive market prices, but you’ll also be able to action multiple execution orders too.
A minimum deposit of $50,000 or equivalent will give you access to the benefits of a Premier account at MaxiWyse. And if you’re not sure how it compares against other accounts at this level, now would be a good time to take a quick look at our Stockoza review. We discovered that this is the entry-level account for anyone looking for the option of swap-free Islamic accounts at MaxiWyse. This is something that many traders are looking for these days, so it’s bound to attract plenty of positive attention.
Traders with a trading balance of at least $100,000 or equivalent won’t benefit from any increase in leverage or market access, as they’re all available to every client, regardless of account type. But our MaxiWyse review found that Elite account holders definitely won’t be disappointed by the extra perks on offer. You can expect to receive daily comprehensive analysis from the broker, along with your own personal account manager!
Elite Plus Account
For those looking to invest $250,000 or more, or its equivalent, the Elite Plus account has been created to provide you with a premium service. Not only will you receive all of the aforementioned benefits, but now you’ll be granted access to additional sophisticated resources, together with assistance in learning how to make best use of them. Personalised market offers will also become available to you, with the aim of promoting positive trading outcomes, whilst limiting losses.
Available only to the select few, a MaxiWyse VIP trading account is exclusively for HNW individuals depositing $1,000,000 or equivalent into their trading account. This awards immediate access to a raft of exclusive benefits, including invitations to market events. Also on offer are cumulative deposit bonuses, discounted market spreads and access to special conditions. You’ll even receive priority support, as well as being part of an exclusive club.
Although there’s no option for Meta Trader users, our MaxiWyse review discovered that the broker’s trading platform is on a par with some of the best we’ve seen. It’s a cross-market platform built for convenience without compromising on speed. Make no mistake, this is a high-performance trading platform offering an impressive array of trading tools and solutions. Zero commissions and rapid order execution mean you’ll reap the benefits of every successful trade. And with SSL built in, safety and security is guaranteed too.
A major consideration for traders at every level is how accessible their broker’s trading platform is. It’s something we’ve paid close attention to in our Greendax review, and we’ve undertaken the same checks at MaxiWyse too. We found that you can download the webtrader platform directly from the broker’s site. You’ll also find links for the free downloads for iOS and Android devices, if you prefer the convenience of an app.
Funding your new trading account is exceptionally easy, according to the findings of our MaxiWyse review. The site accepts deposits via credit and debit cards, as well as providing a bank transfer option. You can make a deposit using cryptocurrency if you want to be really cutting-edge! The minimum deposit amount is $5,000 or equivalent which, as we’ve mentioned, is a little on the steep side.
MaxiWyse processes all withdrawal requests promptly, but explains that it could take up to five business days for funds to reach you. This is outside the broker’s control and is dependent on the financial institutions involved.
The level of support available is a highlight of our MaxiWyse review. Since trading takes place 24/5, that’s when the support team is available too, and getting in touch couldn’t be easier. A live chat button is available on every page across the entire site, with telephone and email contact details also prominently displayed. There’s even a helpful FAQ section, so help is never far away.
One point that we established early on when conducting our MaxiWyse review, is that the broker is still awaiting its UK licence, although it’s been applied for. But these things take time, so we took a long, hard look at the broker’s security protocols. And we were pleased to find that SSL security is used throughout the site, ensuring hackers can’t access your data.
Client funds are held in secure, separate accounts, so your money is protected. To avoid falling for any potential MaxiWyse scams, be sure to follow the link directly from our site, or type the broker’s full address into your browser.
Every online broker claims to be different, but only some of them live up to the hype. And in our view, MaxiWyse is one of them, thanks to a few excellent features. Here at TradersBest.com, we’ve been particularly impressed by the following:
- Competitive pricing
- Instant order execution
- Leverage up to 1:400
- 24/5 customer support
- Variety of accounts
- Speedy withdrawals