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Is Maxus Global Market legit?
Ihab Dharamraj
Jamaica
2023-10-24
ANSWER No, due to the lack of the required licenses, Maxus Global Market is not legitimate.Maxus Global Market employs a website design frequently seen among scammers, a first red flag. It purports to have been established in 2011, yet the domain "maxusfex.com" was only registered in July 2023. This inconsistency between the website's age and its stated history is a cause for concern.To build its credibility, Maxus Global Market displays an MSB registration license from the Financial Crimes Enforcement Network (FinCEN). However, FinCEN has clearly stated that this registration does not constitute a recommendation, certification of legitimacy, or endorsement by any government agency, and thus it does not serve as a valid business or financial license.Maxus Global Market claims to be based in Australia and licensed by the Australian Securities and Investments Commission (ASIC) under AFS number 488828. Yet, our investigation shows that this license is actually held by "Star Funds Management Pty Ltd", a company seemingly unconnected to Maxus Global Market. Furthermore, the license doesn't authorize the company to engage in forex trading.In summary, Maxus Global Market is not overseen by any regulatory authority. Entrusting this broker with investment funds carries significant risk, as there are no legal safeguards to protect these assets. Its customers are at risk of fraud and identity theft. To avoid such substantial risks, we strongly suggest investors stay away from unlicensed brokers and instead choose fully regulated ones.
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