Maple-dex – Review

Maple-dex

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Maple-dex

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Caution Investors Maple-dex – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements

Overview of Maple-dex: 

Maple-dex is a platform that claims to provide access to global markets and allow investors to trade various securities and derivatives, such as stocks, bonds, commodities, currencies, indices, futures, options, and cryptocurrencies. According to its website, Maple-dex has over 10 years of experience in the financial industry and offers competitive fees, fast execution, advanced trading tools, and educational resources. Maple-dex also claims to have a team of professional and experienced brokers who can assist investors with their trading strategies and goals.

Regulation and Compliance of Maple-dex:

However, despite its claims of being a reputable and trustworthy platform, Maple-dex is not regulated or compliant with any Canadian securities laws or regulations. On December |12, 2023, the ASC issued a warning that Maple-dex is not registered or authorized to engage in the business of trading in securities or derivatives in Alberta or any other Canadian jurisdiction. The ASC also advised investors to exercise caution when dealing with platforms that are not registered or authorized by the ASC or any other Canadian securities regulator. The ASC stated that unregistered platforms may pose significant risks to investors, such as fraud, theft, loss of funds, lack of recourse, and inadequate disclosure.

Customer Reviews of Maple-dex:

A quick search on the internet reveals that Maple-dex has received many negative reviews and complaints from customers who have used its services. Some of the common issues reported by customers include:

– Difficulty in withdrawing funds or closing accounts

– High fees and hidden charges

– Poor customer service and communication

– Misleading or false information

– Manipulation of prices and trades

– Pressure to deposit more money or upgrade accounts

– Threats of legal action or harassment

Some customers have also claimed that they have lost their entire investments or incurred significant losses due to the fraudulent activities of Maple-dex and its brokers.

Products and Services Offered By Maple-dex:

According to its website, Maple-dex offers a variety of products and services for investors who want to trade securities and derivatives. Some of these include:

– A web-based trading platform that is compatible with any device and browser

– A mobile app that allows investors to trade on the go

– A demo account that allows investors to practice trading with virtual money

– A variety of account types that cater to different levels of experience and risk appetite

– A range of payment methods that include credit cards, debit cards, wire transfers, e-wallets, and cryptocurrencies

– A selection of trading instruments that include stocks, bonds, commodities, currencies, indices, futures, options, and cryptocurrencies

– A leverage ratio of up to 1:500 that allows investors to amplify their profits or losses

– A spread rate of as low as 0.1 pips that determines the difference between the bid and ask prices

– A commission fee of 0.01% per trade that is charged on top of the spread rate

– A swap fee that is charged or credited for holding positions overnight

– A margin call that occurs when the account balance falls below the required margin level

– A stop-out level that occurs when the account balance falls below the stop-out level and triggers the automatic closure of all open positions

Location of Maple-dex:

Maple-dex claims to be based in Canada but does not provide any specific address or contact details on its website. However, according to some customer reviews and complaints, Maple-dex may be operating from offshore locations such as Cyprus, Belize, Seychelles, or the Marshall Islands. These locations are known for having lax or no regulation or oversight over the financial industry. This means that investors who use Maple-dex may have little or no protection or recourse in case of any disputes or issues.

Customer Service Provided By Maple-dex: 

Maple-dex claims to provide 24/7 customer support via phone, email, live chat, and social media. However, many customers have reported that they have experienced poor customer service from Maple-dex. Some of the common complaints include:

– Long wait times or no response at all

– Unprofessional or rude staff

– Unhelpful or misleading answers

– Refusal to process withdrawal requests or close accounts

– Pressure to deposit more money or upgrade accounts

– Threats of legal action or harassment

Some customers have also reported that they have been unable to reach Maple-dex after they have requested to withdraw their funds or close their accounts.

Defensive Measures Against Fraudulent Brokers:

The ASC and other Canadian securities regulators have warned investors to be vigilant and cautious when dealing with platforms that are not registered or authorized to operate in Canada. Some of the defensive measures that investors can take include:

– Checking the registration status and disciplinary history of any platform or broker before investing with them

– Reading and understanding the terms and conditions, fees, risks, and disclosures of any platform or broker before investing with them

– Avoiding platforms or brokers that offer unrealistic or guaranteed returns, bonuses, or incentives

– Avoiding platforms or brokers that pressure or coerce investors to deposit more money or upgrade their accounts

– Avoiding platforms or brokers that use high-pressure sales tactics, aggressive marketing, or unsolicited calls or emails

– Avoiding platforms or brokers that refuse to provide clear and accurate information about their location, contact details, regulation, or compliance status

– Avoiding platforms or brokers that make it difficult or impossible to withdraw funds or close accounts

– Reporting any suspicious or fraudulent activities to the ASC or any other Canadian securities regulator

Conclusion:

Maple-dex is a platform that claims to offer trading services for various securities and derivatives. However, it is not registered or authorized to operate in Alberta or any other Canadian province. The ASC has issued a warning that Maple-dex may pose significant risks to investors, such as fraud, theft, loss of funds, lack of recourse, and inadequate disclosure. Many customers have also reported negative experiences and issues with Maple-dex, such as difficulty in withdrawing funds, high fees, poor customer service, misleading information, manipulation of prices and trades, and threats of legal action. Investors who are considering using Maple-dex or similar platforms should exercise caution and take defensive measures to protect themselves from fraudulent brokers.