Note: Since AxesPrimes official site (https://axes-prime.com/index.html) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.
General Information & Regulation
AxesPrime is allegedly an unregulated and blacklisted brokerage company registered in Cameroon that provides its clients with the industry-standard MetaTrader5 trading platform, leverage up to 1:500 and floating spreads, as well as a choice of five different account types.
Market Instruments
AxesPrime advertises that it mainly offers forex currency pairs trading.
Account Types
There are five live trading accounts offered by AxesPrime, namely Starter, Silver, Golden, Platinum and Investor. Opening a Starter account requires the minimum initial deposit amount of $250, while the other four account types with the much higher minimum initial capital requirements of $5,000, $20,000, $50,000 and $100,000 respectively.
Leverage
The maximum leverage ratio provided by AxesPrime is much higher than most brokers, up to 1:500. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads
As tested on the MT5 demo account of AxesPrime, the spread for the EUR/USD was floating around 2 pips.
Trading Platform Available
When it comes to trading platforms available, AxesPrime gives traders the worlds most widely-used Metatrader5 trading platform. MT5 is known as one of the most successful, efficient, and competent forex trading software, providing advanced technical analysis tools, automated trading functions (EA) and mobile applications, as well as a user-friendly interface, allowing traders to view their orders, transactions, account details, and keep abreast of the latest market conditions.
Deposit & Withdrawal
AxesPrime does not involve details about the available payment methods, but they mention bank cards and transfers in their legal documents, yet we cannot be sure if these payment options are all available. The minimum deposit requirement is $250.
Bonuses
The broker offers bonuses that are not legal in the UK and Canada. To be more specific, a turnover of $10,000 must also be reached for every $1 of bonus funds in order to withdraw the bonus or any profits earned from it.
Customer Support
AxesPrimes customer support can be reached by phone: +18028519171, email: info@axes-prime.com, support@axes-prime.com. Company address: 20-22 Wenlock Road, London, England, N1 7GU & Exchange Tower, 130 King Street West, Toronto, ON, Canada M5X 1A9.
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