According to the company, this trading brand is operated by AXINVEST GROUP LLC. This firm has been registered in the Marshall Islands, where trusted regulatory oversight doesn’t exist.
Therefore, traders might ask themselves, are there any reasons to trust this firm? Certainly not. Once you read this honest Axaforex review, you will find out why.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Axaforex.com |
| Have Warnings from: | FCA, CNMV, FSMA, A-TVP |
| Registered in: | Marshall Islands |
| Operating since: | 2021 |
| Trading Platforms: | WebTrader; Proprietary Desktop App |
| Maximum Leverage: | Up to 1:1000 |
| Minimum Deposit: | $5 |
| Deposit Bonus: | Available up to 120% |
| Trading Assets: | Cryptocurrencies, forex, indices, commodities, shares |
| Free Demo Account: | Yes |
| How to Withdraw from This Company? | Since the company appears on numerous warning lists, traders can consider regular withdrawals impossible. On the positive side, refund options are always an option and you can contact our refund experts to find out more about them. |
Legal info: Is Axaforex Legit or A Scam?
Generally, offshore brokers registered in the Marshall Islands should opt for top-tier licenses. Primarily because local regulations are not enough to protect traders. In any case, if the company had FCA, ASIC, or BaFin license, everything would be different. Yet, they don’t.
Instead, we found this trading name on multiple warning lists, starting with the FCA, FSMA, CNMV, and A-TVP. If this is not a clear sign to stay away from this broker, nothing will be.
Who are Axaforex’s Victims?
What’s most surprising is that this trading brand has been operating since 2021. Just recently, warnings started piling up. Meanwhile, they were targeting traders from:
Also, the problem is that Axaforex reviews are missing. Consequently, traders don’t know what to expect from this firm. That’s why we encourage you all to leave a comment below with your experience with this firm. If you get scammed, we can even advise you on the refund process. Just get in touch with us via live chat.
Leverage, Commissions, Spreads, Fees and Taxes
One of the key problems with Axaforex broker is their trading conditions, starting with a leverage of up to 1:1000. In the blink of an eye, traders who don’t have experience can lose everything they have. Or even more since negative balance protection is not available.
None of trading costs, like spreads and commissions, are disclosed. But once you realize there are binary options available, you realize the company is an absolute scam. Therefore, we can’t even expect them to be fully transparent.
Bonuses
Indeed, bonus offers are available with Axaforex trading firm. Not small ones, to be fair, but up to 120%. Thus, bonus withdrawal policies are not revealed. So, be careful and make sure to check also our tips from the Reltex Group review.
Axaforex Trading Features
Some of the main features offered are lightning-fast execution, integrated trading tools, 70+ indicators, and drawing options.
However, you’ll have to look elsewhere if you are looking for truly advanced features like social and copy trading. At least there are Expert Advisors available, but it’s questionable how much we can trust them, considering all the warnings against this firm.
Trading Platforms Available
Besides a web-based platform, the company also offers a desktop version. This is quite positive, considering most scam brokers don’t do that.
However, without regulations, can we trust it? Definitely not, and that’s the key reason traders should stick to MetaTrader and cTrader.
Available Trading Assets
Offshore brokers are often trying to copy regulated firms by offering a wide range of trading instruments. But keep in mind, without regulation, it’s all meaningless. Not to mention, all the assets provided by this firm can be found anywhere else.
Anyway, the offer consists of:
- Forex – EUR/SEK, USD/SGD
- Commodities – natural gas, silver
- Shares – Netflix, Pfizer
- Indices – ASX200, DAX30
- Cryptos – ETH, BCH
Account Types
When it comes to the Axaforex account types, traders can choose only between two options. The only difference comes from the welcome bonus and minimum deposit requirements. Therefore, traders can choose between:
- Mini – $5
- Standard – $2.000
Mobile Trading App
As can be seen, traders can also use a mobile app besides the Axaforex WebTrader. Sadly, only those who have Android devices can do so.
Since the AppStore has higher security standards, that might be the reason this app is not approved there. To be fair, even the Android app is unavailable in the PlayStore. But it’s available for download from the company’s website.
Demo Account
One of the rarely positive things about this company, besides the Axaforex EAs, is the availability of a demo account. Traders can explore all of their features with $100.000 virtual credit. But keep in mind that that might also be a way to get traders’ contact info.
Education
Generally, trading education with unregulated brokers is always speculative. If an agent working with you is not a licensed broker, why listen to them at all?
Luckily, with this broker, only basic educational materials are provided. This tells you how serious they are in providing adequate education.
Axaforex Withdrawal
Important to realize is that all Axaforex withdrawal options are only available in cryptos. Even though processing time appears to be within one hour and the company has transparent fees, we can’t trust those. If that was working, the company wouldn’t have appeared on numerous warning lists.
Customer Support
The company’s support can also appear legit to all traders. With phone lines, e-mail, live chat, and even Skype available, that’s quite a breakthrough. When it comes to working hours, you can expect a response between 8 AM and 8 PM Monday-Friday.
Key Information To Consider About Axaforex
Generally, the Axaforex scam broker can offer anything they want, and it won’t deny the fact that it is on multiple warning lists. That’s enough for all traders to stay away from it. On top of that, the company doesn’t offer trusted trading software.
All in all, too many details traders have to worry about. But to be fair, it’s easy to trust them with so many options available. If you are the one who trusted them with money, get in touch with our refund experts to recover it. Don’t let these swindlers get into your head and, most importantly, your banking details. Book your free first consultation today and find out how to recover money from any investment scam.
FAQ Section
What is Axaforex?
Axaforex is an offshore brokerage that has been operating since 2021 mainly in countries where specific authorization is required.
Is Axaforex Scam?
Yes. The company operates without any trading licenses and also there are warnings issued about this company by FCA, FSMA, CNMV, and A-TVP.
How to Request a Withdrawal On My Axaforex Account?
Requesting a withdrawal won’t help any trader. Instead, we suggest they apply for a refund immediately! For detailed assistance, contact our refund specialists.
Source:
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