AmymaxTrade Review: An Offshore Broker

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AmymaxTrade Review: An Offshore Broker

AmymaxTrade is claiming to have over 200,000 active traders on its website. Amy Max Trade is not exactly upfront with their services. What we have found out is shocking as this is another offshore broker. With claims of residing in the United States, we have concrete proof that these are lies. Amymax Trade is another broker trying to steal from American and European investors. Our post will reveal the truth. Read this detailed AMYMAXTRADE Review and find out the truth.

AmymaxTrade Review

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About AmymaxTrade Background

AmymaxTrade Options is selling itself as the perfect go-to platform for online trading. Once you land on their homepage, it’s easy to fall for their enticing interface. And this is the only thing that these scam artists got right.

The platform has an engaging homepage that easily leads one to believe that this is a genuine brokerage. Behind all the design and enticing aesthetics, there’s something totally wrong with the platform.

One way of ensuring naïve investors sign up is by selling itself as a reputable platform. The claim of having over 200,000 active traders is one lie we must expose. It’s barely three months since this website started, and this number is unlikely.

They also claim to offer a winning strategy that guarantees members profit with each trade. Make no mistake, even experts and robots don’t make such bold claims. There’s the ever possibility of making losses in trading.

Accolades and awards

Once you land on their about us page and at the bottom of their homepage, you notice the awards. These awards are obviously false as they are just logos. There’s no picture of any member receiving these awards.

Most of the awards span from 2014 to 2018 at a time when this website wasn’t active. These are scam artists who will try to use every trick to lure unsuspecting investors. Thanks to our investigation, we will reveal more red flags found on the platform.

AmymaxTrade License and Registration Status

The disclaimer at the footer of their homepage claims the platform resides in the United States. They claim that the headquarters in Los Angeles, which is not the case. We did a thorough check with authorities and found no broker licensed under this name.

Both the CFTC and NFA have not heard of this broker. It goes without saying that AmymaxTrade is not a legit trading platform. Your funds are at risk as the broker fails to inform users of their compliance.

Starting a brokerage business in the United States is no easy task. You must deposit $20 million with authorities as insurance cover for members. The compliance is strict, and this is the reason most scam artists hide behind offshore jurisdictions.

There’s no way this broker has even attempted to license their platform. It would be best to look out for such websites as they don’t even post their registration number. These are obviously scam artists.

Cash Bonus

false cash bonuses

For every deposit made, the broker claims to offer a cash bonus. Beware of such enticing promotions as they are a trap set to lure more deposits. In most cases, the broker will block any withdrawals unless payment of these bonuses is made fully.

Even if your account has the balance to clear the bonus, they insist on a new deposit. That’s how naïve investors end up losing more money. These scam artists will claim to offer a bonus, but, in reality, it’s a trap set for investors.

Comments and feedback from members

For the past three months, trading forums have seen a spike in complaints about this broker. Tracy Davis is one of the few victims who spoke out regarding her experience with the platform. She deposited $1,000, hoping to make a winning start to her trading experience.

User comments AmyMaxTrade

Little did she know that she had sent money to offshore brokers. She’s now ruing her decision as her efforts to recover her funds are in vain. We must expose this broker to ensure no one else falls for their traps.

Domain insights ( review)

According to domain checker tools, the website is just three months old as of publishing this post. The website went live on December 28, 2020. Name of the registrant is withheld as the scam artists won’t want anyone knowing their identity.

This is another anonymous trading website. Their hosting history shows that the platform made 2 changes on their 3 unique name servers over 1 year.

Features of AmymaxTrade

Account types

Account plans

AmymaxTrade is offering users five account types. These accounts include Basic, Bronze, Silver, Gold, and Platinum. Basic account holders must deposit $250 to start trading, while platinum members deposit $25,000 and above.

Most of the features are the same, and apart from the Bronze account, other plans get an account manager. The broker claims to offer super low spreads with high leverage of 1:30.

Account managers

There’s no professional that has come out with proof of working with this platform. These are just false claims to make the platform look legit. Davis claims she was transferred from one account manager to the other in a matter of days.

She did not have the same account manager, which is odd. A true broker will ensure that members are in contact with the same account manager. It creates trust, which results in a better trading relationship.

Contact and support

The platform has a chat service at the bottom right-hand side. These scam artists are using the chat service to harvest personal data. The contact page has several phone numbers which rarely go through. The people behind this may be using virtual phone numbers.

You better stay away from the platform or else risk losing your personal information to hackers. It seems the platform will sell your information to marketing companies for profit.

Deposit and withdrawals

You can deposit using three currencies, US Dollar, British Pound, and Euro. Depository options include Bpay, Credit and Debit cards, Neteller, and Wire transfer. Expect no withdrawal as it’s clear Tracy Davis and others haven’t seen any withdrawals.

Trading Platform

AmymaxTrade Trading Terminal

The platform has a custom-made platform that claims to have more than 200 assets. Their custom-made platform is dubious and doesn’t offer advanced tools. Stay away from this ridiculous trading platform.

Safety of funds with AmymaxTrade

With the platform not following due process and failing to register, funds are not safe. Once you deposit with this platform, you must as well kiss your money goodbye. These are scam artists who will use any trick to get naïve investors into signing up.

Scam or Legit AmymaxTrade

Deposit and Withdrawal options Amy Max Trade

AmymaxTrade is a scam that is going to rip off thousands if precaution is not taken. We hope authorities will look into this scam and shut them down.

Bottom line

There’s no way we would recommend a broker that doesn’t comply with industry regulations. Stay away from Amymax Trade Options.

Having an efficient broker is the best way of trading and staying safe. It’s time you got the right team behind you.

We wish everyone a happy and prosperous trading experience.

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