WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致,是否切换?
切换
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Paymax

United States|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://paymaxxfx.com

Website

Rating Index

Contact

+971 581526405
support@paymax.com
https://paymaxxfx.com

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
*No restriction on the broker account

Single Core

1G

40G

1M*ADSL

Warning: Low score, please stay away!
2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

Basic information

Registered region
United States
Operating period
2-5 years
Company Name
Paymax
Abbreviation
Paymax
Company employee
--
Customer Service Email Address
support@paymax.com
Contact number
00971581526405
Company website
Keywords 4
2-5 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk
Website
Company Summary
Review

Users who viewed Paymax also viewed..

XM

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
XM
XM
Score
9.05
  • 10-15 years |
  • Regulated in Australia |
  • Market Making(MM) |
  • MT4 Full License
Official website

EC Markets

9.05
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
EC Markets
EC Markets
Score
9.05
  • 10-15 years |
  • Regulated in Australia |
  • Market Making(MM) |
  • MT4 Full License
Official website

MultiBank Group

8.95
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
MultiBank Group
MultiBank Group
Score
8.95
  • 10-15 years |
  • Regulated in Australia |
  • Market Making(MM) |
  • MT4 Full License
Official website

Vantage

8.65
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4 Full License
Vantage
Vantage
Score
8.65
  • 10-15 years |
  • Regulated in Australia |
  • Market Making(MM) |
  • MT4 Full License
Official website

Website

  • paymaxxfx.com

    Server Location

    Singapore

    Website Domain Name

    paymaxxfx.com

    Server IP

    194.233.83.62

Company Summary

NOTE: Paymaxs official site - https://paymaxxfx.com is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Paymax Review Summary
Registered Country/Region China
Regulation No Regulation
Market Instruments Currencies, Commodities, Indices, Stocks, and Cryptos
Leverage Up to 1:500
Minimum Deposit $100
Customer Support Phone: +971 581526405
Email: support@paymax.com

What is Paymax?

Claimed as “one of the safest online trading platforms”, promising “the utmost security for your funds”, Paymax provides varieties of market instruments. However, it is not regulated by any valid regulatory agency. Additionally, the official website of Paymax is not functional currently. And we are unable to find complete and valid information about it.

Paymax

Pros & Cons

Pros Cons
N/A
  • Unregulated
  • Non-functional Official Website
  • Fully Anonymous

Cons:

  • Unregulated: The platform is not regulated by any valid regulatory agency. This is concerning as regulatory oversight helps ensure that the platform operates fairly and in compliance with industry standards.

  • Non-functional Official Website: The official website of Paymax is not currently operational. This indicates questions about the platform's legitimacy and reliability.

  • Fully Anonymous: This suggests that Paymax doesn't require users to provide detailed identification or verification information, which can pose risks to security and accountability.

Is Paymax Safe or a Scam?

While Paymax claims to be a safe and secure platform, using Paymax is highly likely to put your finances at significant risk.

Unlike legitimate trading platforms, Paymax is not regulated by any financial authority. This means there's no external body monitoring their activities or protecting your funds in case of fraud or unfair practices. Adding to the concerns is Paymax's non-functional website. Transparency is crucial in the financial sector, and a broken website raises serious doubts about its legitimacy.

No license

Market Instruments

Paymax offers a variety of market instruments, including currencies, commodities, indices, stocks, and cryptocurrencies, providing traders with a range of options for diversifying their portfolios. However, since a functional trading platform was not provided, discussing market instruments for Paymax is irrelevant, as the broker does not offer trading opportunities.

Leverage

With leverage of 1:500, traders on Paymax can control a position size 500 times larger than their actual investment. While leverage can amplify profits, it also increases the potential for losses. Higher leverage ratios, such as 1:500, mean that a small change in the price of an asset can result in a significant gain or loss.

Trading Platforms

Paymax promises access to MetaTrader 5 (MT5), a popular trading platform known for its advanced features and user-friendly interface. However, despite this claim, the broker does not offer any functional trading software. This means that traders would not be able to download MT5 from Paymax's website and cannot trade with this broker. Opening an account with Paymax is deemed pointless due to the lack of trading opportunities.

Deposits & Withdrawals

Paymax claims to accept payments with VISA, Mastercard, Skrill, and bank wire transfers. However, in reality, card payments and Skrill are not accepted at all. Advertising payment methods they don't accept is misleading and deceptive. This lack of transparency makes it difficult to trust other information they provide.

Customer Service

For customer support, Paymax provides contact options via phone and email. You can reach their support team by calling +971 581526405 or sending an email to support@paymax.com. However, given the issues with their website and services, it's unclear how responsive or reliable their customer support is.

Conclusion

Paymax's lack of regulation, non-functional website, and misleading information regarding accepted payment methods and trading platforms all suggest risks to its legitimacy and reliability. It is strongly advised to avoid using Paymax for trading activities and to seek out regulated and transparent brokers for a safer trading experience.

Frequently Asked Questions (FAQs)

Q: Is Paymax regulated?

A: No.

Q: What payment methods does Paymax accept?

A: Paymax claims to accept payments via VISA, Mastercard, Skrill, and bank wire transfers. However, in reality, card payments and Skrill are not accepted at all.

Q: What is the minimum deposit requirement for Paymax?

A: $100.

Q: What is the trading platform provided by Paymax?

A: Paymax promises access to MT5. However, despite this claim, the broker does not offer any functional trading software.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

Keywords

  • 2-5 years
  • Suspicious Regulatory License
  • Suspicious Scope of Business
  • High potential risk
Write a comment
Positive
Neutral
Exposure

Content you want to comment

Please enter...

Submit now
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com