Read our Demaxis review to see if we recommend this broker for trading. Just to clear doubts, this is a demaxis.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Demaxis is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Demaxis in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Demaxis Review Conclusions
Making the Demaxis review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Demaxis review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Approached on the telephone by the website revenueinteractive.fr (based in the United Kingdom), I ended up joining out of curiosity for 100 euros and I was put in contact with Demaxis (www.demaxis.com), a trading site based in Hong Kong (according to them) and governed by Saint Vincent and the Grenadines.
My contacts at Demaxis promised me exceptional gains, easy progression, etc. They insisted on the phone that I invest huge amounts of money (20,000 euros then another 27,000 euros), and since I was very interested in trading, I forgot all the rules of caution and invested these enormous sums by giving in to their systematic daily canvassing.
Then to teach me trading they made me take 2 CFDs on Gold and the Eurodollar, telling me that I must leave the positions open, without stoploss, which is extremely dangerous! But I didn’t know about trading and I trusted them. It was February 3, 2023, prices fell sharply and I lost 99.5% of my account in just 2 days. It is impossible for an experienced professional trader to lose such a large amount in 2 days. No trader in the world teaches trading without stoploss which is real financial suicide. The scam is pretending that you are an experienced trader, that there is a lot of money to be made, attracting money from clients and then losing everything in 2 days. Harassing people on the phone to invest all their money and then having that money disappear is obviously a huge scam, whether that money is stolen or lost. Moreover, it is unreasonable to start trading with such amounts because a beginner will inevitably lose money at the beginning, so it is better to start with small amounts (or better, with virtual money) . But there, it is downright the trading advisor who loses 99.5% of the account! (then once the account is replenished, he again loses 60% of the account)
The following Monday, they told me not to worry, that they had the situation under control. Then they assured me that my account was not lost but that I had to take out a credit of 20,000 euros so that they could help me recover the missing money, which I was naive enough to do .
But again they gave me advice (trading on futures without stoploss and with open positions) which made me gradually lose everything – except real trades for 5 weeks, which made me gain 4000 euros then lose everything .
In particular a contract on natural gas futures which made me lose 12,000 euros at once. It is impossible for an experienced professional trader not to know how the futures market works.
In conclusion, my contact at Demaxis gave me recommendations (no stoploss, positions left open) which caused me to lose astronomical amounts.
They did everything to make me lose as much money as possible (except at the beginning to give me confidence then (in April and May) for 5 weeks where she gave me real winning positions which brought me 4000 euros, but this sum was lost by only one of his trades in the wrong direction, left open and without stoploss as always)
When you make such a mistake, the expected behavior would have been to do everything to repair it, with the money that I reinjected (for credit that was difficult to obtain because I was already very in debt). They tried to correct their mistake for 5 weeks between April and May and then stopped, irritated by the fact that I closed one of their positions at a loss.
We cannot both boast of earning 80,000 euros per month and cause a customer to lose more than 60,000 euros without seeking to compensate them.
The direct damage of 47,000 euros + 12,000 euros (59,000 euros) has not been repaired. Only 4000 euros were won by them (unfortunately lost by a single trade left open without stoploss).
When a customer gambles money and loses it, he is responsible for his losses.
But when it is the broker who gambles the client’s money and loses it, it is the broker who is responsible and who should compensate the client
(1/5)