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REMAXIMA foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://remaxima.com, about the company's legal and temporary regulatory information, the company's address .

REMAXIMA Forex Broker

Basic Information

Registered Region
Hungary
Operating Period
--
Company Name
REMAXIMA
Abbreviation
REMAXIMA
Company employee
--
Customer Service Email Address
support@remaxima.com
Contact Number
+442080895062
Company Website
Keywords
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Rating Index

  

Remaxima Forex Broker - Complete Information Guide

  

1. Broker Overview

  Remaxima, established in 2019, operates as a private brokerage firm specializing in the forex and CFD markets. The company is headquartered in Budapest, Hungary, with its main office located at 1136 Budapest, Balzac u. 30. Remaxima primarily caters to retail clients, offering a range of trading services designed for both novice and experienced traders.

  Since its inception, Remaxima has sought to create a multi-currency trading environment, promising simple and secure transactions. The firm has made strides in expanding its market reach, although specific milestones in its development are not widely documented. Notably, Remaxima has positioned itself in a competitive landscape, aiming to attract clients with its trading conditions and user-friendly platform.

  As a forex broker, Remaxima operates without the oversight of any major regulatory bodies, which raises significant concerns regarding its legitimacy and operational practices. The absence of regulatory compliance means that clients may not have the same level of protection as they would with regulated firms.

  The business model of Remaxima focuses on retail forex trading, providing clients with access to various trading instruments, including currency pairs, CFDs, and other financial products.

  

2. Regulatory and Compliance Information

  Remaxima operates without any regulatory oversight, which is a critical concern for potential investors. The Financial Conduct Authority (FCA) in the United Kingdom, along with the Central Bank of Ireland (CBI) and the Financial Services and Markets Authority (FSMA) in Belgium, have issued warnings against the broker.

  The lack of a valid license means that Remaxima does not adhere to the necessary regulatory frameworks that ensure client protection and operational transparency. The firm does not provide specific regulatory numbers or licenses, highlighting its unregulated status.

  Furthermore, Remaxima does not appear to participate in any investor compensation schemes, which would typically offer some level of protection to clients in case of broker insolvency. The firm's policies on Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance are also ambiguous, raising further questions about its operational integrity.

  Client funds are not guaranteed to be segregated from the company's operational funds, increasing the risk of loss in the event of financial difficulties.

  

3. Trading Products and Services

  Remaxima offers a diverse range of trading products, primarily focusing on forex and CFDs. The broker provides access to a variety of currency pairs, including major, minor, and exotic pairs, although the exact number of available pairs is not specified.

  In addition to forex trading, Remaxima includes CFD products across several categories:

  • Indices
  • Commodities
  • Stocks
  • Cryptocurrencies

  The firm claims to frequently update its product offerings, although specific details on new additions are not readily available. Remaxima primarily serves retail traders, but there is no mention of institutional services or white-label solutions being offered.

  The lack of transparency regarding product updates and the overall trading environment may deter potential clients from engaging with the broker.

  

4. Trading Platforms and Technology

  Remaxima supports the widely used MetaTrader 4 platform, which is favored by many traders for its robust features and user-friendly interface. Additionally, the broker has developed its own proprietary trading platform, which is accessible via web browsers, eliminating the need for software downloads.

  Mobile trading is supported, with applications available for both iOS and Android devices, enabling traders to manage accounts and execute trades on the go.

  The execution model is not explicitly defined, but indications suggest a mix of Market Making and ECN execution. The broker's server infrastructure is based in Hungary, which may impact trading latency for clients located in other regions.

  Automated trading is supported through API access, allowing traders to implement algorithmic strategies, although detailed documentation on this feature is limited.

  

5. Account Types and Trading Conditions

  Remaxima offers several account types tailored to different trading needs, including:

  • Standard Accounts: Minimum deposit requirements and spreads are not clearly specified.
  • VIP Accounts: Designed for high-volume traders, offering additional benefits.
  • Islamic Accounts: Available upon request, adhering to Sharia law principles.

  The minimum deposit for opening an account is set at $250, with varying leverage ratios depending on the asset class. The broker does not specify the minimum trading lot sizes or overnight financing fees, which are crucial for traders to understand their potential costs.

  

6. Fund Management

  Remaxima provides a limited range of funding options for clients, including:

  • Bank Transfers
  • Credit/Debit Cards (Visa and Mastercard)
  • E-wallets (such as Skrill and Neteller)

  The minimum deposit varies by account type, with the standard account starting at $250. Deposit processing times are generally quick, although specific timeframes are not disclosed.

  While the broker does not list any deposit fees, withdrawal methods and associated fees are not clearly outlined, leading to potential confusion for users. Withdrawal requests may face delays, and the minimum withdrawal amounts are set at $100 for card transactions and $500 for bank transfers.

  

7. Customer Support and Educational Resources

  Remaxima offers customer support through various channels, including:

  • Phone
  • Email
  • Live Chat
  • Social Media

  The support team is available 24/7, but the effectiveness of the service has been questioned in user reviews. The broker claims to support multiple languages, although specific languages are not listed.

  Educational resources provided by Remaxima are limited, lacking comprehensive training materials such as webinars, tutorials, or e-books. Market analysis services appear to be minimal, with no clear indication of daily or weekly updates.

  

8. Regional Coverage and Restrictions

  Remaxima primarily targets clients in Europe, with its services available to traders in Hungary and potentially other EU countries. However, the broker does not explicitly list its operational regions or the locations of its regional offices.

  Certain countries are restricted from accessing Remaxima's services, particularly those under regulatory scrutiny or those with strict financial regulations. Specific details on these restrictions are not readily available, leaving potential clients uncertain about their eligibility.

  In conclusion, while Remaxima presents itself as a forex broker with a range of trading options, the lack of regulatory oversight, transparency regarding trading conditions, and limited educational resources raise significant concerns for potential investors. It is crucial for traders to conduct thorough research and consider the risks before engaging with the Remaxima broker.

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Latest Reviews

Mayaz Ahmad

Mayaz Ahmad

Bangladesh

This broker has been declared as fake in many forex websites.

Exposure

2021-05-03

REMAXIMA Forex Broker has an overall rating of 1.51, Regulatory Index 0.00, License Index 0.00, Business Index 7.01, Software Index 4.00 Risk Control Index 0.00.