Maxco 2025 Review: Everything You Need to Know
Maxco, an Indonesia-based broker, has garnered attention for its long-standing presence in the trading industry since its inception in 1990. While it offers a range of trading services, including forex, metals, futures, and stocks, opinions about its overall performance and suitability for traders vary significantly. This review synthesizes various insights from multiple sources, highlighting both strengths and weaknesses, as well as expert opinions on the broker's offerings.
Note: The broker operates under multiple regulatory entities, which can affect its credibility and operational scope. This review aims to provide a balanced overview based on the latest available data.
Rating Overview
We assess brokers based on user feedback, expert reviews, and available data.
Broker Overview
Founded in 1990, Maxco operates as PT Maxco Futures, providing trading services primarily to Indonesian clients. The broker is regulated by Bappebti, the Indonesian Commodity Futures Trading Regulatory Agency, and has additional licenses from the Jakarta Futures Exchange (JFX) and the Indonesian Derivatives Clearing House. Maxco utilizes the widely recognized MetaTrader 4 (MT4) platform, catering to both novice and experienced traders. The broker offers a diverse range of tradable assets, including forex pairs, precious metals, futures, and stocks.
Detailed Overview
Regulatory Regions
Maxco is primarily regulated in Indonesia, which provides a level of security for local traders. However, its regulatory framework may not be as stringent as those found in more developed markets, which could be a concern for international traders.
Deposit/Withdrawal Currencies
Maxco accepts deposits and withdrawals in Indonesian Rupiah (IDR) and U.S. Dollars (USD). However, it only supports bank transfers through local banks, which may limit accessibility for international clients.
Minimum Deposit
The minimum deposit required to open a real trading account with Maxco is $100, which is relatively low compared to many global brokers. This makes it accessible for new traders looking to enter the market.
Maxco offers various promotional initiatives, including a New Year reward program that provides exclusive prizes based on trading volume and net deposit requirements. However, specific details regarding ongoing promotions are often not prominently displayed, which may lead to confusion.
Tradable Asset Categories
Maxco provides a variety of tradable assets, including:
- Forex: Offering a selection of major currency pairs.
- Metals: Including gold and silver.
- Futures: Covering commodities and indices.
- Stocks: A range of individual stocks is available.
Costs (Spreads, Fees, Commissions)
The broker operates with variable spreads, starting from around 2 pips for major forex pairs, along with a commission of $1 per lot. These costs can be considered high compared to other brokers, which may deter high-frequency traders and scalpers.
Leverage
Maxco offers a maximum leverage of up to 1:500, which can amplify both potential gains and losses. This high leverage may appeal to experienced traders but poses significant risks for less experienced individuals, especially as the broker does not provide negative balance protection.
Maxco provides access to the MetaTrader 4 platform, which is known for its user-friendly interface and comprehensive trading tools. The broker also offers a web-based trading terminal and mobile applications for both Android and iOS devices.
Restricted Regions
While Maxco primarily caters to Indonesian traders, it does not explicitly state restrictions for other regions. However, the reliance on local bank transfers may limit access for international clients.
Available Customer Service Languages
Customer support is available in both English and Indonesian, but the absence of live chat support can lead to longer response times, which has been a point of criticism among users.
Repeated Rating Overview
Detailed Breakdown
Account Conditions
Maxco offers only one type of real trading account, which may not meet the diverse needs of all traders. The account features a low minimum deposit and reasonable commission structure, but the high spreads can be a deterrent.
The broker lacks comprehensive educational resources, which can be a disadvantage for beginners. While MT4 provides some analytical tools, the absence of dedicated educational content limits the learning opportunities for new traders.
Customer Service and Support
Customer support options include phone and email, but the lack of live chat has been noted as a significant drawback. Response times can vary, and some users have reported delays in receiving assistance.
Trading Setup (Experience)
Maxco's trading experience is generally positive for users familiar with MT4, but the high spreads and commissions may not be suitable for all trading strategies. The platform's accessibility through various devices is a plus.
Trustworthiness
Maxco is regulated in Indonesia, which adds a layer of credibility. However, the lack of negative balance protection and limited international accessibility may raise concerns for potential clients.
User Experience
While the MT4 platform is widely respected, the overall user experience can be hampered by limited resources and customer support options. Users have expressed a desire for more comprehensive support and educational tools.
Additional Features
Maxco's promotional offerings and trading conditions are less competitive compared to other brokers. The lack of cryptocurrency trading options may also deter some traders.
In conclusion, Maxco presents a mixed bag for potential traders. While it offers low entry costs and a regulated environment, the high trading costs and limited resources could be significant drawbacks for many. Traders should weigh these factors carefully before deciding to engage with this broker.
