Aximtrade Broker Review: Is It Safe for Traders?

Aximtrade is an online forex broker offering access to multiple financial instruments, various trading accounts and high leverage. However, its regulatory status has raised significant concerns. According to WikiFX, Aximtrade currently holds a WikiFX Score of just 1.23 out of 10. This Aximtrade review examines the broker's company background, Aximtrade regulation, trading conditions and the potential risks investors should consider.

Contents

01

Aximtrade Broker Background and WikiFX Score

02

Aximtrade Regulation: ASIC Licence Revoked and Unverified

03

Trading Accounts and Conditions

04

Trading Instruments and Platforms

05

Overall Assessment of Aximtrade Broker

Aximtrade Broker Background and WikiFX Score

Established in 2020, Aximtrade is registered in Saint Vincent and the Grenadines and operates under the company name AximTrade Pty Limited.

According to WikiFX, the Aximtrade broker has been operating for approximately five to ten years. The broker lists an Australian contact address at 103, 566 St Kilda Road, Melbourne, Victoria 3004.

WikiFX currently assigns Aximtrade a score of 1.23 out of 10, accompanied by a warning advising investors to stay away due to its low rating.

View WikiFX's full breakdown here: https://www.wikifx.com/en/dealer/7341492416.html

The platform has also been placed on the WikiFX Complaint Blacklist following the detection of excessive complaints. WikiFX explicitly states that the broker lacks valid forex regulation and carries high potential risk.

Aximtrade Regulation: ASIC Licence Revoked and Unverified

One of the most concerning findings in this review Aximtrade is its regulatory standing.

According to WikiFX, Aximtrade previously held an Australian Appointed Representative registration under the Australian Securities and Investments Commission (ASIC), with registration number 001294600. However, WikiFX currently classifies this authorisation as Revoked.

Furthermore, Aximtrade has been associated with an Australian Forex Execution Licence, commonly referred to as Straight Through Processing (STP), under licence number 435746.

WikiFX identifies this licence as unverified and flags it as a suspected clone. The licence is associated with HLK GROUP PTY LTD, meaning its existence does not establish that Aximtrade is authorised to operate under it.

These findings indicate that the regulation Aximtrade claims should not be treated as evidence of valid forex regulatory protection.

Adding to these concerns, WikiFX records a public investor warning involving Aximtrade from the Securities Commission Malaysia, as well as an Indonesian regulatory disclosure involving unauthorised commodity futures trading websites.

Consequently, WikiFX currently categorises Aximtrade as an unregulated broker.

Trading Accounts and Conditions

Despite its regulatory concerns, Aximtrade advertises several account types designed for different trading preferences.

The broker's WikiFX profile lists Cent, Standard, ECN, Infinite and Pro accounts.

The Cent and Standard accounts have advertised minimum deposits starting from $1, with spreads beginning at approximately 1.0 pip. The ECN account requires a minimum deposit of $50 and advertises spreads starting from 0.0 pips, with commissions of $3.

The Pro account requires a minimum deposit of $300, while the Infinite account advertises a $1 minimum deposit.

Leverage varies considerably between accounts, ranging from 1:1000 to 1:3000, with the Infinite account advertising unlimited leverage.

Although these conditions may appear attractive, extremely high leverage substantially increases the potential for financial losses.

Trading Instruments and Platforms

Aximtrade advertises trading instruments covering forex, cryptocurrencies, precious metals, commodities, energy products and global indices.

Examples include major currency pairs, gold, silver, crude oil, Bitcoin and Ethereum.

According to WikiFX, Aximtrade has offered MetaTrader 4 and its proprietary mobile trading application, allowing users to access trading functions through desktop and mobile devices.

However, the availability of trading software does not compensate for missing regulatory protection.

Overall Assessment of Aximtrade Broker

This Aximtrade review highlights serious concerns regarding the broker's regulatory credibility.

With a WikiFX Score of 1.23 out of 10, revoked and unverified ASIC authorisations, regulatory warnings and inclusion on the WikiFX Complaint Blacklist, Aximtrade presents substantial risks.

For anyone researching broker Aximtrade, the most important consideration is not its advertised trading conditions but the absence of verified, valid forex regulation.

Investors should exercise extreme caution and independently verify regulatory authorisations before considering any financial commitment.