General Information
Maxain Is A Forex Broker Based In Hong Kong. In Addition To This, The Broker Has Registered Corporate Entities In Labuan, Malaysia, As Well As Saint Vincent And The Grenadines. These Are Well Known Offshore Jurisdictions Where Forex Brokers Are Either Unregulated Or Very Lightly Regulated. This Means, Among Other Things, That Maxain Is Able To Offer Extremely High Trading Leverage Of Up To 1:1,000, As Well As A Relatively Simple Onboarding Process For New Clients.
One Thing To Note About Maxain Is That The Broker Has A Strong Focus On Greater China And Chinese-speaking Traders. Both The Website Itself And The Support Are Available In Simplified And Traditional Chinese, As Well As In English. In Addition, The Broker Caters To The Needs Of Chinese Traders By Offering Financing Options That Are Popular In The Chinese Mainland, Such As Alipay, WeChat Pay, And UnionPay.
In Addition To The Aforementioned Chinese Methods Of Capital Injection, Maxain's Account Can Also Be Capitalized Using Visa, MasterCard, Stablecoin Tether (USDT), As Well As Through Regular Bank Transfers. The Broker Does Not Charge Any Fees For Processing Deposits And Withdrawals.
Maxain Stands Out For Its Free Daily Reviews And Analysis Articles Posted On Its Website. However, It Should Be Noted That Most Of These Articles Are Published In Chinese Only, Which Shows How Important The Chinese Market Is To The Broker.
Account Type/Minimum Deposit/Spread And Commission
Maxain Traders Can Choose Between Three Different Types Of Trading Accounts When Registering.
- Cent Account, Minimum Deposit Of $0.01, Spread From 1.3 Pips, No Commission
- Professional Account, Minimum Deposit Of $1, Spread From 1.3 Pips, No Commission
- ECN Account, Minimum Deposit Of $10,000, Spread From 0 Pips, All Trading Commissions Of $7
It Is Clear That The Minimum Deposit Required To Open An ECN Account With Maxain Is Much Higher Than The Minimum Deposit Required To Open A Cent Or Pro Account. Sadly, Such A High Minimum Deposit Requirement May Also Mean That Many Traders Do Not Have Access To An ECN Account, And They Will Have To Pay A Fairly High Spread On A Cent Or Pro Account. While These Types Of Spreads May Be Acceptable For Traders With Small Accounts, They Are Unfortunately A Bit High For Serious Traders With Large Accounts.
Trading Tools
Maxain Has Something To Offer Most Traders When It Comes To Trading Tools. From Over 30 Forex Pairs, To Eight Major Stock Indices, Precious Metals, WTI And Brent Crude Oil, And Over 100 Single Stocks Listed In The US, UK, Europe, Hong Kong And Japan, Maxain's Products Are Undoubtedly Solid. However, If We Were To Mention A Few Assets That We Did Miss, Then Cryptocurrency Is One Asset Class That Comes To Mind, Especially Since This Is An Offshore Broker And Many Of Its Competitors Do Offer Cryptocurrency Trading.
Trading Platform
All Trading Assets Offered By Maxain Are Traded On The MetaTrader 4 (MT4) Platform, Which Is The Only Trading Platform Offered By This Broker At The Time Of This Review. Given That The Trading Platform Is One Of The Most Widely Used In The Forex Trading Community, We Won't Go Into Details About It Here. However, As Usual, MT4 Is Available In A Standard Downloadable Version For Windows And Mac Computers, As Well As Web And Mobile Versions For Apple And Android Devices.
Summary
In Conclusion, We Consider Maxain To Be A Broker That Has Found Its Niche In The Market, The Chinese-speaking Forex Trading Community. With Local Offices In Hong Kong And South East Asia, As Well As Local Support And Financing Options, It Is Understandable That These Traders Choose Maxain. However, For Others, We Believe That The Spreads And Commissions Charged By This Broker Are A Bit High, And We Hope They Will Be Reduced To Make Future Offers More Competitive.
