AximTrade Review: Introduction
AximTrade operates as an offshore broker, presenting what appears to be enticing trading conditions and access to the well-known MetaTrader 4 platform. They make assurances of client account segregation, access to top-tier liquidity providers, and rapid execution speed. However, individuals with even a modest amount of experience in the realm of forex trading can readily recognize these as mere marketing tactics designed to entice inexperienced traders into making deposits.
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Address – First Floor, Bank Building, First St Vincent, James Street, Kingstownsen Vincent and the Grenadines.
103 566 St Kilda Rd Melbourne VIC 3002
Warning – Not recommended by review websites like Scams Report
Domain Age –
|Date Registered||January 08, 2020|
|Domain Age||3 years, 8 months, 20 days, 20 hours, 52 minutes, 42 seconds|
AximTrade Review: Regulation
Axim Trade operates as an unregulated broker registered in Saint Vincent and the Grenadines, a jurisdiction known for its relatively lax regulations regarding forex trading. It’s important to note that the absence of regulation doesn’t automatically categorize a broker as a scam. Nevertheless, traders should exercise utmost caution when engaging with unregulated brokers.
Regarding AximTrade specifically, certain concerns have surfaced within the online trading community. Some traders have voiced complaints about withdrawal issues, while others have alleged unethical business practices by the broker. Furthermore, the absence of regulatory oversight can pose challenges for traders seeking resolution for their grievances.
AximTrade Review: Trading Assets
AximTrade provides its clients with a comprehensive selection of market instruments available for trading. These include forex currency pairs, precious metals like gold and silver, energy commodities such as crude oil and natural gas, global stock indices like the S&P 500 and NASDAQ, well-known cryptocurrencies like Bitcoin and Ethereum, and a diverse range of individual stocks and commodities sourced from various parts of the world.
AximTrade Review: Trading Accounts
Axim Trade offers traders the flexibility of choosing from a selection of four distinct trading account types. For those who are new to trading or prefer to start with a modest investment, a cent account is an ideal option, requiring just a minimal deposit of $1. The standard account also maintains a low minimum deposit of $1 while providing access to a broader range of trading instruments and enhanced features.
Alternatively, the ECN account, requiring a minimum deposit of $50, delivers narrower spreads and direct access to liquidity providers, catering to traders seeking efficient execution. For high-volume traders or those seeking exclusive advantages, the Infinite account presents a compelling option, characterized by personalized trading conditions and VIP-level support.
AximTrade Review: Trading Conditions
Much like numerous other offshore brokers, AximTrade is rather liberal when it comes to leverage, offering levels as high as 1:3000. While this may appear more than sufficient, it’s essential to emphasize that leverage exceeding 1:500 is exceptionally excessive and carries the risk of losing your entire investment within seconds.
The broker claims to provide spreads averaging 1.1 pips on EUR/USD for its two basic account types, which is a reasonably competitive offer.
If these trading costs remain the same in a live trading scenario involving real money, it raises questions about the broker’s profitability. This leads us to suspect that the absence of commission fees and the tight spreads observed in demo accounts may be strategic tactics employed to entice new clients.
AximTrade Review: Conclusion
AximTrade operates as a Forex and CFD broker, presenting an extensive array of trading instruments and account options. They also offer competitive trading conditions, including high leverage and low minimum deposits.
Nevertheless, it’s crucial to emphasize that AximTrade falls into the category of offshore, unregulated brokers, a factor that may not align with the preferences of all traders. Furthermore, the limited availability of educational resources and customer support may pose challenges for certain individuals.
If you’ve been defrauded, whether by AximTrade or another fraudulent scheme, it’s essential to take immediate action. You can make use of our complaint form to file your complaint and gain access to a free consultation with one of our experts who will assist you in navigating the process of recovering your funds.
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