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AX Financials

United Kingdom|2-5 years|
Suspicious Regulatory License|White label MT4|Regional Brokers|High potential risk|


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OneFinancialMarkets-OFM-Demo MT4
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+44 1234 943200
Nairobi, Dagoreti District ,Riruta Street: Ngong Road , Kevian Offices


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Broker Information


Company Name

AX Financials Limited

Company Abbreviation

AX Financials

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint


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Previous Detection : 2024-04-14
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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AX Financials · Company Summary

AX Financials Basic Information
Company Name AX Financials Limited
Regulation Not Regulated
Headquarters London, United Kingdom
Founded in 2020
Tradable Assets Forex, CFDs on commodities, indices, and stocks
Minimum Deposit $500
Maximum Leverage 1:400
Trading Platforms MT4, WebTrader
Payment Methods Bank transfer, credit/debit card, e-wallets
Demo Account Available
Customer Support Email, phone, live chat

Overview of AX Financials

AX Financials is a UK-based broker that offers a range of trading instruments to its clients worldwide. Established in 2020, the broker has its headquarters located in London, the heart of the UK's financial center. AX Financials provides its clients with access to a variety of financial instruments, including forex, commodities, indices, and stocks.

The broker offers a range of leverage options to suit the needs of different traders, with leverage ratios of up to 1:400 available for forex trading. For traders who are just starting, the minimum deposit required to open an account is $250. AX Financials also offers a choice of trading platforms, including the popular MetaTrader 4 (MT4) platform, which provides a wide range of analytical tools and trading features.

In terms of customer support, AX Financials provides its clients with a range of options to get in touch, including phone, email, and live chat. The broker also provides educational resources such as webinars, market analysis, and trading guides to help traders improve their skills and knowledge.


Is AX Financials legit or a scam?

AX Financials is a registered company in the United Kingdom and offers trading services in various financial instruments. However, it is important to note that the broker is not regulated by any financial authority, which may raise concerns among potential clients.

Lack of regulation can lead to potential risks for traders, as there is no oversight to ensure that the broker is adhering to ethical business practices and providing fair and transparent trading conditions. In addition, unregulated brokers may not offer the same level of investor protection as regulated brokers.

That being said, some traders may still choose to work with unregulated brokers like AX Financials, as they may offer competitive trading conditions such as high leverage, low minimum deposits, and a wide range of trading instruments. However, it is important for traders to thoroughly research and understand the risks involved before opening an account with an unregulated broker.


Pros and Cons of AX Financials

When choosing a broker to invest with, it is important to weigh the advantages and disadvantages carefully. This can help you make an informed decision about whether a particular broker is right for you. In the case of AX Financials, there are both positives and negatives to consider. On the one hand, the broker offers a variety of market instruments, leverage options, and competitive minimum deposit requirements. On the other hand, the lack of regulation and potential security concerns may give some investors pause.

In the following table, we provide an overview of the pros and cons of AX Financials to help you make a more informed decision about this broker.

Pros Cons
Wide range of trading instruments Not regulated by any financial authority
Generous leverage up to 1:400 Limited information on the company's history and management
Choice of trading platforms High minimum deposit requirements
Multiple account types No negative balance protection
24/7 customer support Limited educational resources

Market Instruments

AX Financials offers a range of market instruments to its clients, providing them with diversified investment options. Clients can trade in various asset classes such as forex, stocks, commodities, bullion, energy, cryptocurrency and indices.

Forex trading is available in major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and many others. In addition, clients can also trade in exotic currency pairs, such as the USD/TRY, USD/SGD, and more.

When it comes to stocks, clients can trade in CFDs on stocks from global markets such as the United States, Europe, and Asia. The broker offers access to over 600 stock CFDs, including popular companies such as Apple, Amazon, and Google.

For those interested in commodities trading, AX Financials offers trading in precious metals such as gold and silver, as well as energy commodities such as crude oil and natural gas. Additionally, the broker also provides access to a range of agricultural commodities such as wheat and corn.

Clients can also trade in major global indices, such as the S&P 500, FTSE 100, and the Nikkei 225. Overall, AX Financials provides a wide range of market instruments, giving clients the ability to diversify their portfolio and trade in markets they are familiar with.


Account Types

AX Financials offers its clients two types of accounts: demo account and live account. The demo account is perfect for those who want to test their trading strategies and get familiar with the trading platform without risking their funds. This account comes with virtual money and is free of charge. On the other hand, the live account is for traders who are ready to trade with real money. With this account, clients can access all the features of the trading platform, including market analysis tools and customer support.

AX Financials does not offer multiple account types with varying features or benefits. This streamlined approach may be a plus for some traders who prefer simplicity and transparency in their trading experience. However, traders who require more customized features or benefits may find this lack of options to be a drawback.


Here is a table summarizing the pros and cons of AX Financials' account settings:

Pros Cons
Demo account available for practice trading Only two account types available: demo and live
Simple account opening process No account customization options
High leverage options available No additional account features such as Islamic accounts or managed accounts
No negative balance protection
No tiered account system for more experienced traders
Limited educational resources for traders

How to open an account with AX Financials?

First things first, you'll want to head over to their website and click on the “Live Account” button. From there, you'll need to provide some basic personal information, like your name, email, and phone number.


Next, you'll be asked to fill out a more detailed application form, where you'll need to provide additional information about your financial background and trading experience. Don't worry if you're new to trading - AX Financials offers educational resources and support to help you get started.


Once you've submitted your application, you'll need to verify your identity and residency by providing some documents, like your passport or driver's license and a utility bill. After that, you'll be all set to fund your account and start trading with AX Financials.


AX Financials offers trading leverage of up to 1:400, which is relatively high compared to other brokers in the industry. This means that traders can control larger positions with smaller amounts of capital, potentially magnifying both profits and losses. However, it's important to note that high leverage also increases the level of risk involved in trading.

On the positive side, high leverage allows traders with smaller account balances to take larger positions in the market, potentially increasing their earning potential. It can also provide more flexibility in terms of trading strategies and risk management.

On the negative side, high leverage also means that traders can easily lose all of their capital if the market moves against their positions. Therefore, it's crucial for traders to use proper risk management techniques and to fully understand the risks involved with high leverage trading. Additionally, it's worth noting that high leverage may not be suitable for all traders and may not be available to clients from certain countries.


Spreads and Commissions (Trading Fees)

As AX Financials is an unregulated broker, their spreads and commissions may vary and may not be as competitive as those offered by regulated brokers. However, they still provide some general information about their spreads and commissions on their website.

According to their website, AX Financials offers floating spreads starting from 0.6 pips on their live trading account. They do not charge any commissions on their trades, and instead, they make money through the spreads.


Non-Trading Fees

As a responsible trader, it is essential to consider all the costs involved in trading with a particular broker, including non-trading fees. Non-trading fees are fees that are not directly related to trading activities, but that traders may have to pay while using the broker's services. Some of the non-trading fees charged by AX Financials are:

  • Inactivity fee: AX Financials charges an inactivity fee of $15 per month if the trader's account remains inactive for more than three months.

  • Withdrawal fee: A withdrawal fee of $20 is charged on each withdrawal made by the trader.

  • Deposit fee: AX Financials does not charge any deposit fees for deposits made into the trading account.

  • Overnight fee: A fee is charged on positions held overnight, also known as swap or rollover fee. The fee is calculated based on the trading instrument, the trade size, and the number of nights the position is held.

Trading Platform

X Financials offers its clients the popular and user-friendly MetaTrader 4 (MT4) trading platform, which is available for both desktop and mobile devices. The MT4 platform is renowned in the industry for its advanced charting capabilities, customizable interface, and algorithmic trading features.

Traders can also access the MT4 platform via web browser, making it easily accessible from anywhere in the world. The platform is also available in multiple languages, catering to clients from different parts of the world. Overall, the MT4 platform offered by AX Financials is a reliable and efficient tool for traders of all levels.


Deposits and Withdrawals

Minimum Deposit

When it comes to starting a trading journey with AX Financials, aspiring traders should be aware that the minimum deposit required is $250. This amount may seem steep in comparison to other brokers in the industry who offer lower deposit requirements.

Here's a table comparing the minimum deposit requirements of AX Financials with three other well-established brokers:

Broker Minimum Deposit
AX Financials $250
IG $0
eToro $200
Plus500 $100

When it comes to making deposits and withdrawals, AX Financials offers a limited selection of payment methods to its clients. Traders can choose from four different payment methods, including PayPal, Mastercard, WebMoney, and Visa. While this selection may be adequate for some traders, it may prove to be inconvenient for those who prefer to use other payment methods such as bank transfers or e-wallets.


Customer Support

AX Financials offers customer support via email, phone, and they provide service in several languages, making it convenient for traders from different countries. Their multilingual support team is available 24/5 to assist clients with any issues they may encounter while using the platform. This is particularly helpful for traders who are not fluent in English, as it can be challenging to communicate with customer support teams that do not speak their native language.

The broker's website also has a “Contact Us” section where clients can submit a query or request a call back from a customer support representative.


Educational Resources

Lastly, AX Financials does not offer educational resources for traders. However, it does provide a range of trading tools to assist clients in their trading activities. These tools include a trading calculator, economic calendar, and market analysis.



AX Financials seems to offer a range of trading instruments, generous leverages, multilingual support, but the minimum deposit required by AX Financials may be higher than some other brokers. It offers a demo account for new traders to practice before trading with real money. However, it's important to note that trading always carries risks and traders should be aware of the risks associated with trading and understand their own investment goals and limitations.


  • Q: What account types does AX Financials offer?

A: AX Financials offers two types of accounts: a demo account and a live account.

  • Q: What is the minimum deposit required by AX Financials?

A: The minimum deposit required by AX Financials is $250.

  • Q: What leverage does AX Financials offer?

A: AX Financials offers a maximum trading leverage of up to 1:400.

  • Q: What trading instruments are available on AX Financials?

A: AX Financials offers a wide range of trading instruments, including Forex, commodities, indices, and cryptocurrencies.

  • Q: What trading platforms does AX Financials offer?

A: AX Financials offers the popular MetaTrader 4 (MT4) trading platform, as well as a mobile app for on-the-go trading.

  • Q: What are the non-trading fees charged by AX Financials?

A: AX Financials does not charge any non-trading fees, such as account inactivity or withdrawal fees.

  • Q: What payment methods does AX Financials accept for deposits and withdrawals?

A: AX Financials accepts PayPal, Mastercard, WebMoney, and Visa for deposits and withdrawals.

  • Q: Does AX Financials offer multilingual customer support?

A: Yes, AX Financials offers multilingual customer support to its clients.

  • Q: Does AX Financials provide educational resources for traders?

A: No, AX Financials does not provide educational resources for traders, but it offers some trading tools to assist traders in their analysis and decision-making.

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more than one year
Honestly, the mobile app is risky. Accidental closing of positions is too easy due to the "Close Position" tab sitting dangerously close to the navigation and homepage buttons at the bottom of my smartphone screen... Urgent fix needed from the tech team to address this bug.
2024-02-29 15:49
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