The Forex market has existed for almost 50 years. During this time, thousands of brokerage companies have already been created. Some of them were one-day firms that could simply not succeed; others were created as frank scam projects to deceive traders. There are also those, in the light of various reasons, could not stand the competition and had fallen into bankruptcy. Today, there are not so many international companies in the world that meet all the requirements of regulators and enjoy a well-deserved reputation of a reliable and safe company.
The attitude of regulatory organizations towards the Forex market in different countries vary. An international brokerage company needs to fulfil a plethora of requirements. This cannot be ignored and the presence of official registration is a definite sign of quality. It helps the market participant to distinguish a fraudster from a law-abiding broker, to understand that this is not just another fraud or a scam. It is apparent that undocumented brokerage companies can be a threat to customer security.
Getting a license is a lengthy process. Most regulatory organizations review a huge number of company documents related to its financial condition and study information on management and other key figures.
Regulation and the operation of international companies
Let’s review the work of three international brokerage companies: MaxiTrade, Saxo Bank and OANDA. They have long established themselves as law-abiding and have never been involved in scandals. High competition in the market dictates the rules of behaviour, but sometimes you can see an absence of rules. For example, on the internet, sometimes you can read statements that the mentioned brokers are mere scams or fraudsters. Thus, it’s very important to understand how a trader can recognize a decent company and distinguish it from a potential fraudster.
Financial regulators protect the interests of traders, helps to reduce market crime by preventing fraud, abuse, and manipulation. There are supporters and opponents of the Forex market, and it is not always possible to find a common point of view. International companies MaxiTrade, Saxo Bank, OANDA and many other brokers work quite successfully even under these conditions.
The aforementioned brokers provide services to traders and observe the laws and strengthen their reputation through many factors.
Saxo Bank has been operating in the market for over 20 years and is regulated in more than ten jurisdictions. OANDA was incorporated in the early 1990s. MaxiTrade, on the other hand, started its activities in the 21st century. It was registered and managed to quickly gain popularity among traders from different countries.
The brokerage company MaxiTrade strives to take into account all the demands of the Forex market, is transparent with their activities, and provides the maximum range of services to its customers.
MaxiTrade propositions for the trader
Considering the demands of the Forex market, where you can often come across scams and fraudsters, and ultimately lose your money in unscrupulous companies, MaxiTrade notably acts in the most transparent way. Firstly, the company’s website is very convenient and intuitive. Secondly, it boasts of advantages like the availability of financial, technical tools, and other analytical materials.
MaxiTrade does not only step aside, it surpasses competitors in the race to trade with various financial instruments, including securities, stock indexes, commodities, currency pairs, precious metals and many derivatives. The company has a fairly acceptable minimum threshold for entering into trading which is $500.00. It is definitely still possible to increase it through leverage.
MaxiTrade has a very convenient system of account replenishment and withdrawal of profits, which can be done using bank cards, money transfers, and web-wallets. A great aid for traders is its absence of commissions.
MaxiTrade’s technical equipment is also in no way inferior to competitors. The broker has its own trading platform. In addition, you can also use the well-known platform MetaTrader4. The platforms are compatible with any computer and you can download its mobile application on a tablet or smartphone. Among the advantages, traders note the quick execution of transactions, the provision of being able to report in real time, and its over-all convenient settings. If you have any questions, you can directly contact financial advisors and get answers from them.
Analytical materials should be striking in their diversity, volume and efficiency. In this case, MaxiTrade wins the competition against Saxo Bank and OANDA. The information includes daily and weekly Forex forecasts and a financial calendar, where news from different countries and analytical articles are published every hour. Users can view the calendar of quarterly reports of leading world corporations. On top of this, MaxiTrade provides customers with an opportunity to learn through numerous published trading-related articles in its site.
Strictness with respect to the Forex market from regulators helps the work of international companies that operate within the framework of laws, do not restrict trader rights, and offer a wide range of services. Market participants are always worried that the company may file for bankruptcy, but MaxiTrade, Saxo Bank, and OANDA are certainly not under a threat of going bankrupt either in the near future or in the long term.
Of course for traders there is still a high risk of meeting a fraudster or scam on the market. Therefore, you need to be vigilant. You need study documents pertaining to the company’s reputation, communicate directly with company representatives, and take advantage of a demo account. Trust plays a pivotal role, and MaxiTrade definitely justifies it.