Overview of Maxco
Maxco Futures, operating as PT Maxco Futures, is a regulated institution in Indonesia with a Retail Forex License. While the specific regulatory agency overseeing Maxco Futures is not mentioned, the company adheres to the regulations of Indonesia's financial industry. Traders can access a variety of market instruments, including forex, metal, futures, and stock instruments, allowing them to speculate on the price movements of major currency pairs, precious metals, indices, and individual company stocks.
The company offers two types of trading accounts: Real Account and Demo Account. The Real Account allows traders to securely deposit funds, offering a commission of $1 per lot and a variable spread type. On the other hand, the Demo Account provides a simulated trading environment that closely mirrors real market conditions, enabling traders to practice their strategies and gain familiarity with the platform using virtual funds.
Maxco facilitates deposits and withdrawals through trusted banks, namely Bank Central Asia (BCA) and Panin Bank. Customers can conduct transactions around the clock, with quick processing times, excluding weekends. Deposit and withdrawal fees are waived by Maxco.
While Maxco provides a range of trading platforms such as WebTrader, mobile app, desktop trading platform, and MetaTrader 4 (MT4), it is essential to conduct further research and exercise caution before engaging with any financial institution.
Pros and Cons
Maxco offers a range of pros and cons for traders. On the positive side, the company is regulated in Indonesia with a Retail Forex License, providing a level of credibility and trust. They offer a diverse selection of instruments, including Forex, Metal, Futures, and Stock options, giving traders various market opportunities. The Real Account is available to all traders with a $1 commission per lot, and the high leverage ratio of 500:1 allows for potential amplification of trading gains. Moreover, Maxco accepts bank transfers for quick processing. They provide multiple trading platforms, such as WebTrader, Mobile App, Desktop Platform, and MetaTrader 4, for accessibility. Additionally, Maxco offers educational resources through videos, news articles, and images, helping provide valuable insights to traders. However, some drawbacks include the lack of a trading software, limited information on trading conditions for each instrument, and no details on other account types. Traders should also be aware of the potential risks associated with high leverage. Additionally, there is a lack of information on additional fees or charges, limited payment options, and a lack of details on the withdrawal process. User feedback and comparisons with other popular trading platforms are not provided, and the extent and quality of educational resources remain unclear.
Is Maxco Legit？
Based on the provided information, Maxco Futures is a regulated institution in Indonesia. It holds a Retail Forex License issued by the Indonesian regulatory authority. The license number is SPAB - 057/BBJ/12/03. The regulatory agency responsible for overseeing Maxco Futures is not explicitly mentioned in the given details.
However, it is important to note that the information you provided also states that Maxco Futures does not have a trading software, which may raise some concerns. It is advisable to exercise caution and conduct further research or seek additional information before engaging with any financial institution or trading platform.
Market Instruments
FOREX INSTRUMENTS:
Maxco offers various forex instruments for trading. These instruments include major currency pairs such as EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF, and USD/CAD. For example, the EUR/USD pair has a bid price of 1.09086 and an ask price of 1.09115. The change in the exchange rate is -0.00453, representing a decrease of 0.42%. Traders can engage in forex trades by placing their bids or asks accordingly.
METAL INSTRUMENTS:
Maxco also provides metal instruments for trading, including XAU/USD (gold) and XAG/USD (silver). These instruments allow traders to speculate on the price movements of precious metals. For instance, the bid price of XAU/USD is 1919.05, the ask price is 1919.49, and the change in price is 10.88, indicating a positive change of 0.57%. Traders can take advantage of these price fluctuations to make trading decisions.
FUTURES INSTRUMENTS:
Maxco offers futures instruments that enable traders to speculate on the future value of various assets. Some of the futures instruments available include WTI.N (crude oil), HSI.N (Hang Seng Index), DOW.N (Dow Jones Industrial Average), DAX.N (DAX Index), FTSE100.N (FTSE 100 Index), NAS100.N (NASDAQ 100 Index), and NIKKEI.N (Nikkei 225 Index). These instruments allow traders to participate in the futures market and potentially profit from price movements in these assets.
STOCK INSTRUMENTS:
Maxco provides stock instruments for trading, representing shares of different companies. Some examples of stock instruments available include #BA (Boeing), #AAPL (Apple), #INTEL (Intel), #JPM (JPMorgan Chase), #FB (Facebook), #EBAY (eBay), and #BABA (Alibaba). Traders can engage in stock trading by buying or selling these instruments based on their market expectations.
Pros and Cons
Account Types
1. REAL ACCOUNT:
The Real Account offered by Maxco is suitable for traders of all types. It provides anapplication process where traders can fill in their details, securely deposit funds, and gain access to a wide range of products. The account operates with a commission of $1 per lot and offers a variable spread type. With a leverage ratio of 500:1, traders can manage their positions. The supported currencies for this account type are USD and IDR.
2. DEMO ACCOUNT:
Maxco's Demo Account is specifically designed to replicate a real trading environment, closely reflecting actual market conditions. This feature enables a seamless transition for traders when they decide to open a Real Account and engage in trading on the live market. The Demo Account provides traders with up to 10,000 USD in virtual funds to practice their strategies and test their skills. It has a duration of one month, offering ample time for traders to familiarize themselves with the platform. The Demo Account is available on all platforms and supports trading in Forex, Metal, Futures, and Stock markets.
Pros and Cons
Leverage
Maxco offers a leverage ratio of 500:1, enabling traders to manage their positions and potentially amplify their trading gains.
Spreads & Commissions
The Real Account operates with a commission of $1 per lot and provides a variable spread type.
Promotions
Maxco implements a range of promotional initiatives to engage its customers. These promotions encompass diverse offerings, including contests and reward programs that feature enticing prizes. Among these initiatives is the Reward Program, which presents customers with a multitude of deals and the potential to earn higher value rewards. Additionally, Maxco extends a warm welcome to new clients by providing them with a welcome reward equivalent to Rp300.000. Moreover, the company hosts the Financial Summit, an event that explores the Global Economic Challenge and Development in the Post-Pandemic Era, providing customers with valuable insights and perspectives.
Deposit & Withdrawal
Maxco only accepts bank transfers and offers two bank options, Bank Central Asia (BCA) and Panin Bank, for depositing funds in Indonesian Rupiah (IDR) and USD. Maxco emphasizes reliable payment transactions by facilitating direct dealings with trusted banks, providing quick processing within a few seconds. Customers are provided with round-the-clock transactions, except on weekends, and benefit from waived fees for deposit and withdrawal operations. Plus Maxco waives any deposit and withdrawal fees.
Pros and Cons
Trading Platforms
WebTrader:
Maxco's WebTrader is a comprehensive trading platform that integrates quotes, charts, trading, analysis, reports, and other essential functions. This platform allows investors to access global markets and trade directly from any browser, eliminating the need for additional software.
Mobile App:
Maxco's mobile app offers a customizable trading experience. It provides various apps, including those for news and trend analysis, new trading features, and overall smoother trading. Traders can personalize their trading experience through these apps.
Desktop Trading Platform:
Maxco's desktop trading platform is designed specifically for traders. It offers a user-friendly interface that can be customized to individual preferences. Available for both Windows and MacOS, this platform also provides sophisticated order management tools, allowing traders to control their positions quickly.
MetaTrader 4:
Maxco also offers the widely popular MetaTrader 4 platform. Known for its power, MT4 caters to both beginners and advanced traders. It supports automated trading through Expert Advisors and offers a selection of order types to enhance trading capabilities.
Pros and Cons
Educational Resources
1. VIDEOS:
Maxco provides a variety of educational resources to its users, including videos. These videos cover a range of topics related to the global economy and financial markets. Some of the highlighted videos include discussions on the global economic challenges and development in the post-pandemic era, the direction of trade policy in facing global challenges, and the forecast of the global stock market. These videos helps provide valuable insights and information to help individuals understand and navigate the complexities of the financial world.
2. NEWS:
Maxco offers news articles that keep users informed about the latest developments in the financial industry. The news articles cover a wide range of topics, including financial regulation development in Indonesia, the digital transformation of the global trade landscape, and the challenges, developments, and opportunities of the world economy in the post-Covid era. These news resources provide users with up-to-date information on important financial trends and events, allowing them to stay informed and make informed decisions.
3. IMAGES:
In addition to videos and news articles, Maxco also provides users with visual resources in the form of images.
Customer Support
Maxco provides customer support to address any inquiries or special assistance needed. Their customer service team is readily available to assist customers with their questions or concerns. Customers can reach out to Maxco's customer support through phone or email.
For phone support, customers can contact Maxco at +62 21 720-5868. Alternatively, customers can also send their inquiries or requests via email to cs@maxco.co.id.
Maxco's head office is located at Panin Bank Centre - Ground Floor, Jl. Jend. Sudirman Kav-1, Senayan, Central Jakarta, Indonesia - 10270. Customers can use this address for any correspondence or to visit the head office.
Conclusion
In conclusion, Maxco Futures is a regulated financial institution in Indonesia, holding a Retail Forex License. While it offers a range of market instruments such as forex, metals, futures, and stocks, it is important to note that Maxco does not have a trading software. Traders should exercise caution and conduct further research before engaging with the platform. The Real Account offers a variable spread type with a $1 commission per lot and a leverage ratio of 500:1. Maxco provides promotional initiatives and a user-friendly deposit and withdrawal process. The trading platforms include WebTrader, mobile app, desktop platform, and MetaTrader 4. Educational resources in the form of videos, news articles, and images are available. Customer support can be contacted via phone or email, and the company's head office is located in Jakarta, Indonesia.
FAQs
Q: Is Maxco a legitimate company？
A: Yes, Maxco Futures is a regulated institution in Indonesia with a Retail Forex License.
Q: What market instruments does Maxco offer？
A: Maxco offers forex, metal, futures, and stock instruments for trading.
Q: What are the account types available？
A: Maxco provides Real and Demo accounts for traders.
Q: What is the leverage ratio offered by Maxco？
A: Maxco offers a leverage ratio of 500:1.
Q: Are there promotions available at Maxco？
A: Yes, Maxco offers various promotions, including contests, reward programs, and welcome rewards.
Q: How can I deposit and withdraw funds with Maxco？
A: Maxco accepts bank transfers and offers Bank Central Asia (BCA) and Panin Bank as options for depositing funds in IDR and USD.
Q: What trading platforms does Maxco provide？
A: Maxco offers WebTrader, mobile apps, desktop trading platform, and MetaTrader 4.
Q: What educational resources are available at Maxco？
A: Maxco provides educational videos, news articles, and visual resources.
Q: How can I contact Maxco's customer support？
A: You can contact Maxco's customer support through phone or email.
Q: Where is Maxco's head office located？
A: Maxco's head office is located at Panin Bank Centre, Jl. Jend. Sudirman Kav-1, Senayan, Central Jakarta, Indonesia.
