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The WikiFX Score of this broker is reduced because of too many complaints!

Aximtrade

Saint Vincent and the Grenadines|2-5 years|
Appointed Representative(AR)|MT4 Full License|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

https://aximtrade.net/?language=en

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

AximTrade2-Demo

Hong Kong
MT4
3

Influence

A

Influence index NO.1

Malaysia 7.44
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

3
Server Name
AximTrade2-Demo MT4
Server Location Hong Kong

Influence

Influence

A

Influence index NO.1

Malaysia 7.44

Surpassed 33.22% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

support@aximtrade.com
https://aximtrade.net/?language=en
103 566 St Kilda Rd Melbourne VIC 3004
https://www.facebook.com/AximTrade

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

More

Danger

ID BAPPEBTI
2022-02-02

Danger

MY SCM
2021-01-01

Contact number

Other ways of contact

Broker Information

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Warning: Low score, please stay away! 5
Previous Detection : 2024-07-18
  • The number of the complaints received by WikiFX have reached 81 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0539713) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0539713)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 435746) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Aximtrade · WikiFX Survey
Danger A Visit to Aximtrade in Australia – No Office Found
Australia

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    Aximtrade · Company Summary

    Axim Trade Basic Information
    Registered Country/Region Saint Vincent and the Grenadines
    Founded in 2020
    Regulation None
    Trading Platforms MetaTrader 4, Mobile App
    Instruments Forex, CFDs, commodities, indices
    Minimum Deposit $1
    Maximum Leverage 1:1000 to Unlimited Leverage
    Account Types Standard, Cent, ECN, Infinite
    Negative balance protection Yes
    Spreads As Low as 0.0 Pip (ECN account)
    Deposit Methods Bank Wire Transfer, Credit/Debit Card, e-wallets
    Withdrawal Methods Bank Wire Transfer, Credit/Debit Card, e-wallets
    Customer Support Phone, Email, Live Chat
    Education Seminars, Economic Calendar

    Overview of Axim Trade

    Axim Trade is a forex broker that was founded in 2020 and is registered in Saint Vincent and the Grenadines. The broker offers a range of account types, including Cent, Standard, ECN, Infinite, which cater to traders with different needs and experience levels. Trading leverage can go up to an unlimited level, allowing traders to potentially amplify their profits, though it's important to note that higher leverage also increases the risk of losses.

    In terms of trading platforms, Axim Trade offers the popular MetaTrader 4 platform, which is known for its user-friendly interface and advanced trading tools. Traders can access the platform via desktop, web, and mobile devices, giving them flexibility and convenience in managing their trades.

    Axim Trade also provides limited educational resources and trading tools to help traders make informed decisions. Customer support can be reached 24/5 through a phone number and email address for customer inquiries, as well as a live chat.

    Is Axim Trade Legit or a Scam?

    Aximtrade's regulatory status presents some concerns regarding its operations in different jurisdictions. These issues highlight potential risks associated with trading through Aximtrade, as their regulatory status in major financial markets like the United States and Australia is either unauthorized or flagged for suspicious activities.

    1. NFA (National Futures Association) - United States: Aximtrade is listed as unauthorized by the NFA, with a license number 0539713. This implies that while they may have attempted to register, they do not have authorization to operate as a regulated entity within the U.S.

    2. ASIC (Australian Securities and Investments Commission) - Australia: The firm is identified as a suspicious clone under ASIC with the license number 435746. This classification indicates that Aximtrade may be impersonating a legitimately licensed entity, raising significant concerns about its legitimacy and the safety of trading with them in Australia.

    Is Axim Trade Legit or a Scam?
    Is Axim Trade Legit or a Scam?

    Pros and Cons

    Here we've compiled a comprehensive list of the pros and cons of this broker to help you make an informed decision. Axim Trade offers a variety of account types to suit different trading styles, and they also provide high-leverage options for experienced traders looking to maximize their profits. Their trading platforms are user-friendly and have advanced charting tools and technical indicators.

    However, it's important to note that Axim Trade is not regulated, which may pose a risk to your investments. Their customer support is not available 24/7 and their educational resources are limited compared to other brokers. Additionally, their withdrawal process may take longer than expected.

    Pros Cons
    Offers multiple account types Not regulated
    Provides access to multiple trading assets Limited payment methods available
    Offers high leverage up to an unlimited level Limited educational resources available
    Provides the MetaTrader 4 trading platform No demo account available
    No fees for deposits and withdrawals Not available to clients in certain countries
    Low minimum deposit required Limited trading tools and features available
    Copytrade supported No 24/7 customer support

    Market Instruments

    Axim Trade offers a diverse range of market instruments for its clients to trade, including forex currency pairs, precious metals such as gold and silver, energy commodities like crude oil and natural gas, global stock indices such as the S&P 500 and NASDAQ, popular cryptocurrencies like Bitcoin and Ethereum, and a variety of individual stocks and commodities from around the world.

    • Forex: Axim Trade offers a wide range of forex currency pairs for trading, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic currency pairs such as AUD/NZD, USD/TRY, and EUR/HUF.

    • Metals: Trading precious metals such as gold and silver is also available on Axim Trade's platform. This includes spot trading as well as futures contracts on these metals.

    • Energies: Axim Trade provides access to energy markets through CFDs (contracts for difference) on crude oil and natural gas. This allows traders to speculate on these commodities' price movements without owning the physical assets.

    • Indices: Axim Trade offers CFDs on a range of global stock market indices, including the S&P 500, Dow Jones, and NASDAQ in the US, the FTSE 100 in the UK, and the Nikkei 225 in Japan.

    • Cryptocurrency: Besides traditional markets, Axim Trade also allows traders to access the exciting world of cryptocurrencies. You can trade major cryptocurrencies like Bitcoin, Ethereum, and Litecoin, as well as many other altcoins.

    • Stocks: With Axim Trade, you can trade stocks from some of the world's biggest companies. This includes companies listed on major stock exchanges such as the NYSE, NASDAQ, and London Stock Exchange.

    • Commodities: Finally, Axim Trade offers CFDs on a range of other commodities, including agricultural products such as wheat, corn, and soybeans, as well as industrial metals like copper and zinc.

    Account Types

    With Axim Trade, traders have the option to choose from four different types of trading accounts. For those who are just starting out or prefer to keep their initial investment small, the cent account may be the perfect fit with its minimum deposit requirement of just $1. The standard account also has a low minimum deposit of $1 but offers a wider range of trading instruments and features. The ECN account, with a minimum deposit of $50, offers tighter spreads and direct access to liquidity providers. For high-volume traders or those looking for exclusive benefits, the Infinite account may be the way to go with its personalized trading conditions and VIP support.

    Account Type Pros Cons
    Cent Low minimum deposit of $1, easy for beginners to start trading Limited access to trading instruments and features
    Standard Access to more trading instruments and features compared to Cent account; Minimum deposit of $1 may still be too high for some beginners None
    ECN Access to ECN trading environment, which offers faster execution and tighter spreads; low minimum deposit of $50; None
    Infinite Unlimited leverage, Competitive Spreads None

    Account Types

    How to Open an Account?

    Opening an account with Axim Trade is easy and straightforward.All you need to do is visit their website and click on the “CREATE PROFILE” button.

    From there, you will be taken to a registration page where you will be required to provide your personal information, including your full name, email address, and phone number.

    Once you have completed the registration process, you will need to verify your account by submitting the necessary documents, such as a valid ID and proof of address. After your account is verified, you can start funding it and begin trading.

    Leverage

    Leverage is a crucial factor in forex trading, and Axim Trade provides flexible leverage options to its clients. The leverage offered by Axim Trade ranges from 1:1000 to unlimited, depending on the trading account type.

    For the Cent and Standard account types, the leverage is up to 1:1000, and 1:2000 respectively, which means that traders can open positions up to 1000 times or 2000 times the value of their account balance. For the ECN account type, the leverage is up to 1:1000. The Infinite account type, on the other hand, provides unlimited leverage, which allows traders to open positions of any size, even beyond their account balance.

    While high leverage can increase the potential profit, it also amplifies the risk. Therefore, it is important to use leverage wisely and always keep in mind the potential risks involved in trading with high leverage. Axim Trade also provides margin calls and stop out levels to help manage risk, which will automatically close positions if the account equity falls below a certain level.

    Leverage

    Spreads & Commissions (Trading Fees)

    When it comes to trading, spreads and commissions are crucial factors that traders consider before choosing a broker. At Axim Trade, traders have the advantage of flexible spreads and low commissions. The broker offers competitive spreads that vary depending on the trading account type. For example, the Cent account and Standard account have floating spreads starting from 1.0 pips, while the ECN account has the tightest spreads, starting from 0 pips, and charges commissions ranging from $3 per lot.

    Non-Trading Fees

    Axim Trade charges some non-trading fees, not limited to deposit and withdrawal fees, inactivity fees, and currency conversion fees.

    Regarding the deposit and withdrawal fees, Axim Trade supports a wide range of payment methods including bank transfers, credit cards, and e-wallets. Deposits are generally free of charge, while withdrawals may incur some fees depending on the payment method used. For example, a bank transfer withdrawal fee is $35, a credit card withdrawal fee is 3.5% of the amount, and an e-wallet withdrawal fee ranges from 0.5% to 3% of the amount.

    In terms of account inactivity fees, Axim Trade charges $50 per month for accounts that have been inactive for more than 90 days. This fee is relatively high compared to other brokers in the industry.

    As for currency conversion fees, Axim Trade charges a fixed fee of 2% for all currency conversions. This fee can add up over time, especially for traders who frequently trade different currency pairs.

    Trading Platform

    Axim Trade offers two trading platforms for its clients: MetaTrader 4 (MT4) and a mobile app. MT4 is a widely recognized platform in the forex industry and is known for its advanced charting capabilities, technical analysis tools, and customizable interface. It is available for download on desktops, laptops, and mobile devices.

    In addition to the desktop MT4 platform, Axim Trade also offers a mobile app that is available for both iOS and Android devices. The mobile app allows clients to access their trading accounts on the go, monitor their positions, view charts, and execute trades directly from their smartphones or tablets.

    Both the MT4 platform and the mobile app are user-friendly and provide a seamless trading experience for clients. With the MT4 platform, clients can also access a vast library of indicators, automated trading strategies, and other add-ons to enhance their trading experience.

    Copy Trading

    Axim Trade offers a copy trading service for its clients, which allows them to automatically replicate the trades of other successful traders in real-time. This service is known as “Axim Socia,” and it is available through the MetaTrader 4 platform.

    To use Axim Socia, clients can browse a list of available signal providers, view their historical performance, and select which providers they want to follow. Once a provider is selected, all of their trades are automatically copied to the client's account.

    One of the main benefits of copy trading is that it allows less experienced traders to benefit from the expertise of more seasoned traders. It can also be a useful tool for busy traders who don't have the time to closely monitor the markets themselves.

    Copy Trading

    Deposits & Withdrawals

    Deposit

    Axim Trade offers various payment methods for both deposits and withdrawals, including bank transfer, credit/debit cards, and e-wallets such as Skrill, Neteller, and Perfect Money. The minimum deposit amount for all account types is $1, and there are no deposit fees charged by Axim Trade. However, depending on the payment method used, there may be additional fees charged by the payment processor.

    Withdrawal

    For withdrawals, Axim Trade processes requests within 24 hours, and the time it takes for the funds to reach the client's account depends on the payment method used. Withdrawals via e-wallets and credit/debit cards are usually processed within 1-2 business days, while bank transfers may take up to 5 business days. There are no withdrawal fees charged by Axim Trade, but similar to deposits, there may be additional fees charged by the payment processor.

    Customer Support

    Axim Trade offers several options for contacting support, including live chat, email, and phone support. Customer support is available 24/5, Monday through Friday, in multiple languages, including English, Spanish, Russian, and Chinese.

    However, the lack of a FAQ section on Axim Trade's website could potentially make it difficult for traders to quickly find answers to their questions.

    Customer Support

    Conclusion

    AximTrade is a Forex and CFD broker that offers a wide range of trading instruments and account types, along with competitive trading conditions such as high leverage, and low minimum deposits. The broker provides access to the popular MT4 trading platform and a mobile app for traders on the go.

    However, it is important to note that Axim Trade is an unregulated broker, which may not be suitable for all traders. Additionally, limited educational resources and customer support may also be a drawback for some. Traders should carefully consider their options before deciding to trade with Axim Trade or any other broker.

    FAQs

    What types of trading accounts does Axim Trade offer?

    Axim Trade offers four types of trading accounts: Cent, Standard, ECN, and Infinite.

    What trading instruments are available on Axim Trade?

    Axim Trade offers a wide range of trading instruments, including forex, metals, energies, indices, cryptocurrencies, stocks, and commodities.

    What is the leverage offered by Axim Trade?

    Axim Trade offers leverage ranging from 1:1000 to unlimited.

    What trading platform does Axim Trade offer?

    Axim Trade offers the popular MetaTrader 4 (MT4) trading platform and a mobile app for Android and iOS devices.

    What are the non-trading fees charged by Axim Trade?

    Axim Trade charges non-trading fees, including withdrawal fees, inactivity fees, and swap fees.

    Does Axim Trade offer copy trading services?

    Yes, Axim Trade offers a copy trading service called AximSocial, which allows traders to copy the trades of other traders.

    News

    Alert: AximTrade 60 Days Pending Withdrawal Status

    ExposureAlert: AximTrade 60 Days Pending Withdrawal Status

    2023-11-10 11:04

    AximTrade's 60-day withdrawal delays and a surge of complaints raise concerns in the trading community. Traders facing unresolved withdrawal issues and unexpected server maintenance incidents demand answers about the broker's reliability and transparency.

    WikiFX
    2023-11-10 11:04
    Exposure
    Alert: AximTrade 60 Days Pending Withdrawal Status
    AximTrade Unexpected Server Maintenance

    ExposureAximTrade Unexpected Server Maintenance

    2023-11-09 14:23

    Uncover the unsettling implications of AximTrade's unannounced server maintenance and its consequent challenges for traders seeking to access or secure their funds.

    WikiFX
    2023-11-09 14:23
    Exposure
    AximTrade Unexpected Server Maintenance
    AXIMTRADE Withdrawal Woes: Trader's Funds Held Hostage

    ExposureAXIMTRADE Withdrawal Woes: Trader's Funds Held Hostage

    2023-11-08 17:12

    In the realm of online trading, a distressing tale unfolds as an undisclosed trader grapples with AXIMTRADE, bringing to light unresolved withdrawal issues.

    WikiFX
    2023-11-08 17:12
    Exposure
    AXIMTRADE Withdrawal Woes: Trader's Funds Held Hostage
    5 Reasons to Consider Forex Trading During Recession

    Activity5 Reasons to Consider Forex Trading During Recession

    2023-08-24 14:15

    While no one knows how long a recession lasts, the financial consequences of making poor trading decisions during the recession can be devastating. Interestingly, there is one market that remains viable even when the stock and crypto markets plummet. Forex trading during recession offers excellent profit opportunities, as it offers income opportunities even during economic downturns. Let's explore!

    WikiFX
    2023-08-24 14:15
    Activity
    5 Reasons to Consider Forex Trading During Recession

    User Reviews

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    21

    Comments

    Write a review

    Quinlan
    more than one year
    Axim Trade is great for traders looking for a low barrier to entry with their minimum deposit. Plus, their spreads are competitive, making it an attractive option for those seeking cost-effective trading opportunities. Definitely worth checking out!
    2024-07-08 11:32
    Reply
    0
    0
    jhdw
    more than one year
    Everything is fine, but there's an issue with unwarranted stop-losses, and the trading view isn't reflecting on the chart, making it difficult to analyze and establish positions in the market.
    2024-03-22 16:02
    Reply
    0
    0
    Adrian Yang
    6-12months
    Kelvin Tang doesn't pay the clients money in Singapore and now trying to promote Aximtrade in Japan and China. He is facing several legal cases now.
    2023-12-26 22:17
    Reply
    0
    0
    NooM2444
    6-12months
    When you withdraw money, you don't get any money. The broker is not transparent. I don't want to give any stars but I'm forced to press.
    2023-09-20 10:41
    Reply
    0
    0
    NooM2444
    6-12months
    This broker is not transparent. I did not receive the money withdrawn from my Aximtrade account. Rating one star is still too much.
    2023-09-13 13:07
    Reply
    0
    1
    WEALTH WATCHS
    more than one year
    This is a scam company. They will not give you back your money. All your coins gone within seconds. They are very terrible at responding to mails too. Was only able to get my money from them via the name above. wealthwatchs
    2023-04-26 07:41
    Reply
    0
    1
    FX1593555832
    more than one year
    Most recovery companies will take your money again. I personally think they are the same set of people that run all of them, seems like an unending cycle and its too sad. The most crazy thing about the whole internet thing is how you can clone a website to make it look like the real one, I discovered so many people fell into this kind of scams. The only recovery company I know that works is Freddictine At gmail dot com I have been to their physical address to meet them before and the good thing
    2023-03-16 13:31
    Reply
    0
    0
    金融理财
    more than one year
    Having been trading with this broker for two years..Platform Is seamless, and execution is swift. Customer service is prompt. I have enjoyed professional broker service from Aximtrade.
    2023-02-17 11:28
    Reply
    0
    0
    一个好运的人
    more than one year
    Aximtrade is the most reliable firm I've ever worked with. Deposits and withdrawals are practically instant and customer support is on another level. The spreads are much better than other firms. The commission is free of charge. Thank you for this great experience.
    2023-02-16 12:12
    1
    0
    0
    233743
    more than one year
    sonucheeda
    2023-01-25 08:03
    Reply
    1
    0
    FX2888901274
    more than one year
    A copy trader made huge mistake a million dollar gone.
    2023-01-14 09:58
    Reply
    0
    0
    Hanzreza
    more than one year
    Scam broker, I have received the withdrawal process, but the money has not yet entered my account
    2023-01-07 17:41
    Reply
    0
    1
    ahmet123
    more than one year
    Aximtrade fake company does not pay if you make money it is forbidden to make money
    2022-11-23 21:36
    Reply
    0
    1
    Sanga
    more than one year
    Aximtrade is one of the best brokers which I trade and earn profit as my other income. Spread is reasonable compared to other brokers, so far, the deposits and withdrawals are instant since I joined 2020 with Aximtrade. I can see within few hours my client's accounts are getting verified as quicker which I have not ever seen with other brokers. Highly recommended Trading platform.
    2022-11-09 15:37
    Reply
    0
    0
    Chuchi
    more than one year
    Great broker with great service. I was introduced to aximtrade by one of my long time friend. I have been trading with them for more than 2yrs, compared to other brokers aximtrade have more deposit and withdrawal options as well as great customer service most importantly the customer service is available 24/7. Deposit and withdrwal is also smooth. Havent faced any issues so far.
    2022-11-08 16:38
    Reply
    0
    0
    Deeram
    more than one year
    AximTrade has more complete and flexible trading features. Trading can start from lot 0.01, regulated by the Australian Securities and Investments Commission (ASIC) so that safety is GUARANTEED, and they currently also provide multilingual services including Indonesian.
    2022-11-07 16:06
    Reply
    0
    0
    ahmet123
    more than one year
    scamm
    2022-11-05 03:03
    Reply
    1
    1
    Genzi
    more than one year
    Well regulation, fast and user-friendly platform, a lot of instruments to trade, Deposit and withdrawal process is quite easy and smooth - there are all I need for comfortable trading.
    2022-11-01 16:04
    Reply
    0
    0
    Coral
    more than one year
    I have also experienced many forex trading platforms, but when my friends introduced me to Axim, I didn't want to change to other brokers. You guys should try it, I see that Axim has interesting contests and cashback programs. Sometimes I also contact the company to support tecnical issues, the company supports enthusiastically and I am very satisfied. I'm a bit afraid of it being virtual on other exchanges, but Axim when I have a problem, I contact directly customer service department, they are
    2022-11-01 15:53
    Reply
    0
    0
    Coral
    more than one year
    This is a great forex broker. The website is full of information, including accounts based on my interests. I would choose the Standard account because of the high commission. Tight spread. The fastest deposit and withdrawal system, if there is any problem, the customer support team will clearly explain and solve it for you. I shared and invited some of my friends to join and have profit. When I withdrawal profit only take 30 minutes.
    2022-10-31 22:16
    Reply
    0
    0
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