Is MaxifyFX a scam?

We rate MaxifyFX Scam / Avoid at 2.4 out of 10. Two findings drive it, and the second is unusual enough to be worth the whole page.

The reviews Trustpilot deleted were the good ones

MaxifyFX's Trustpilot profile holds 337 reviews and 81% of them are five star. Trustpilot has made the rating unavailable for a breach of its guidelines and states that it removed a number of fake reviews for the company.

Most brokers that lose a Trustpilot rating lose it while sitting at one star, and the manipulation was an attempt to bury complaints. Here the profile is overwhelmingly positive, which means the reviews Trustpilot found and removed were the flattering ones. The praise was manufactured.

That is a more useful signal than a bad score, because a bad score can be explained by losing traders. A profile built out of fake positives cannot.

Source: Trustpilot profile for maxifyfx.com, checked 2 September 2026.

The FSCA number does not mean what it looks like

MaxifyFX publishes FSCA licence 54512. The FSCA is South Africa's real financial regulator and the number is a real FSP licence under the FAIS Act. An FSP licence authorises advice and intermediary services on derivatives.

Issuing or writing CFDs as principal, which is what a CFD broker does, requires a different and separate authorisation: an OTC Derivative Provider licence under the Financial Markets Act. MaxifyFX quotes no ODP authorisation anywhere we could find. If it holds one, one line on the site would settle it.

This distinction is invisible to almost every retail client, which is exactly why it is worth stating. "FSCA licensed" reads as full regulatory approval. It is not the same thing.

Three jurisdictions, one unanswered question

A South African company number, a Saint Lucia registration at The Sotheby Building in Rodney Bay, and an operating address in Alexandria, Egypt. The site does not state which entity actually receives a deposit, and that is the fact that determines who you have a claim against if something goes wrong.

The case against our verdict

MaxifyFX publishes more real commercial detail than most brokers we have reviewed: deposit minimums to the dollar, spreads from 0.1 pips, 1:300 leverage, MT5 and cTrader. That is genuine and we score cost and platform accordingly. It holds a licence from a real national regulator rather than a fabricated one. Only 11 reviews have arrived in the last twelve months, so the complaint record is largely historic.

The verdict holds because the two central questions, who is authorised to hold your money and whether the public praise is real, both come back badly. Good pricing on a platform you cannot withdraw from is not a bargain.