MaxiTrade offers several types of accounts that offer various services depending on the size of the deposit. The logic is that the customers who deposit higher amounts to trade with the broker also get preferential treatment. Perks range from bonuses, faster withdrawals and analyst support. Below we present the overview of the accounts.
MaxiTrade Start Account
- deposit from $250 – $3000
- bonus up to 50%
- introduction to platform
MaxiTrade Silver Account
- deposit from $3001 – $10000
- bonus up to 100%
- introduction to platform
- education and analysis
- personal analyst
MaxiTrade Gold Account
- deposit $10001 – $50000
- bonus up to 120%
- accelerated withdrawals
- intro to platform
- education and analysis
- personal analyst
- weekly review of the trading account
MaxiTrade Platinum Account
- deposit $50001 – $100000
- bonus up to 120%
- highest priority withdrawal
- intro to platform
- education and analysis
- personal analyst
- weekly review of the trading account
- quarterly trading plan
MaxiTrade VIP Account
- deposit from $100000
- bonus up to 125%
- highest priority withdrawal
- intro to platform
- education and analysis
- personal analyst
- weekly review of the trading account
- quarterly and annual trading plan
- real-time trading demonstration
- priority access to the analyst trading sessions
- VIP hedging tools
It is clear that the broker has a lot of options, especially for the so-called VIP memebers, however, we do have to comment on some of these.
MaxiTrade Bonus
The bonus is a controversial topic in online trading. It was so badly abused in recent years that 2 years ago CySEC acted on it and ordered all Cyprus regulated brokers to stop offering them. Since most brokers in EU have CySEC license it meant that the bonuses were practically outlawed and remained a feature offered mostly by unregulated brands, one of which is MaxiTrade. Technically its regulated by Labuan IBFC, which is the first time we hear about this jurisdiction.
Quarterly and Annual Trading Plan with MaxiTrade
This is a funny one. One would expect that the annual plan is the basic one, since in a way offers least value. One cannot really predict that far in the future to have a bulletproof trading plan. It would be more logical if the premium account holders got their plans updated more frequently to reflect changes on the market. In our opinion, pretty useless hook.
Personal Analyst and any Kind of Real Time Trading
Here traders have to be very careful. They must understand that the broker is not a financial advisor. While they might get general help and guidance from the broker, it is highly unlikely that the broker can or should give them recommendations for trading.
MaxiTrade Contest Promotion
While we were reviewing the website there were several promotions running. One of them was related to the earnings season in the US. The idea was that traders with highest turnovers during this period stand to get prizes in range from $1,000 – $1,000,000. This is huge, but what we see is basically just another hook to get people to accept bonuses, or how they call it, “cofunding”. The winners on the website were probably just fake names.
Problem is that in order to cash out the money, after depositing $1000 to enter contest, one has to reach certain turnover targets. The cofunding in this case was 100% or minimum $1000.
In order to withdraw money from the broker, the turnover targets need to be reached. If the bonus accepted was up to $10,000, the turnover target (volume traded) was 10,000,000 or 1000x. This is insane,in the heyday of binary options, worst turnover minimums were around 30x.