Once we learned that AxianceFX was banned from providing financial services, we knew this one didn’t belong to the market. We also knew it was our duty to warn you and prevent you from losing your hard-earned money.
There are many red flags related to the broker. We’ll expose them all in our detailed AxianceFX review. Let’s get started.
AxianceFX is an anonymous trading brokerage. The company doesn’t list the owner or anything of value. In fact, the moment we saw their name, we figured that they were trying to run their business on the back of another firm, Axiance. While currently without a Tier 1 license, Axiance was once under a CySEC umbrella.
However, let’s get back to our scammer in question. We have two addresses – from the UK and Canada. Therefore, we searched for the Axiance regulation in the registers of the FCA and IIROC. As expected, we found nothing.
In its Terms & Conditions, the company listed governing law as the law of Estonia. While being an EU member state, Estonia is quite known for hosting all kinds of unregulated brokers and being one of the EU money laundering centers. Hence, AxianceFX will excuse us if this doesn’t make us trust them.
Finally, the leverage in most Tier 1-regulated areas, including the UK and Canada, is limited to 1:30, while AxianceFX allows up to 1:1000. There’s nothing more we’d like to add, but we invite you to share your story with us.
Let’s take a look at where the broker finds its victims. AxianceFX is publishing fake ads via social media, luring investors to deposit. The company promises thousands of euros if you only invest as little as 250 EUR.
Their ad is mainly placed in the following countries:
The first domain, axiancefx.com, was registered in October 2022. However, upon being blacklisted, the company switched to axiancefx.net, continuing the same scheme. The new domain was registered in April 2023, right after all the bans. Therefore, be careful as it seems that this swindler doesn’t choose means to steal your money.
Well, there’s not much to compare when it comes to the AxianceFX trading platform. Unless, of course, we compare their lousy WebTrader with third-party software such as MT4, MT5, or cTrader.
The browser-based platform has basic features, such as pending orders, trading history, and asset overview. Yet, it doesn’t support advanced features such as Expert Advisors or social trading.
Another thing we’re missing is a dedicated app for mobile devices. It would be so much easier to just install the app and enable notifications. All the trading would be right at your fingertips, along with alerts. Instead, regardless of whether you use an Android or iOS, you have to log in each time again through a mobile web browser.
The range of trading assets is not quite exciting. As a matter of fact, it’s a pretty standard one that most brokers nowadays offer. You can access the following:
Since CFD crypto trading was banned in the UK back in 2021, it’s clear that this firm cannot run the business from the country.
The spread broker promises starts at 1.5 pips, which is the industry average. Besides, you will have to pay swaps for overnight trading and a commission of $10 per lot on some of the accounts. All in all, it’s quite a pricey experience.
Speaking of AxianceFX account types, let’s review them.
The bonus increases with each type, going from 30% on the Basic one to 100% for the VIP and Black accounts. The leverage varies from 1:200 to 1:1000 against all the possible regulations.
Allegedly, each account brings more education and assistance. But we should remember that unregulated brokers can promise anything and deliver nothing.
The answer is no if you’re wondering whether you can test the AxianceFX Demo account. This company requires you to pay a minimum deposit before allowing you to access the software.
At the same time, many regulated brokers will offer you a free trial account while also requiring a minimum deposit of $10 or so. Therefore, you have absolutely no reason to risk as much with AxianceFX and similar bogus schemes.
The company provided us with two payment options:
However, there’s no AxianceFX Withdrawal Policy, and their T&C contains no payout details. Considering everything we’ve had a chance to learn so far, we doubt it’s even possible to get money out of your account.
Most probably, you will be pressured to pay all kinds of non-existent fees and taxes before they block your account for good. If it happens, don’t despair but look for help!
Since the company accepts debit/credit cards, you can always file for a chargeback in case of a fraudulent transaction. You have up to 540 days to report the issue and request your money back. With a bank wire, the situation complicates a bit as you need your bank’s fraud department.
If this process frightens you and you’re unsure you can manage it on your own, we advise you to book a free consultation with Global Fraud Protection. Our experts are here to evaluate your case in detail and give you an honest estimate. Time is of the utmost importance, so act now!
AxianceFX is an unregulated trading brokerage without a license. Don’t invest your money there, and if you already have, contact us for help with a refund.
No, AxianceFX doesn’t offer a risk-free Demo for its customers.
You can trade crypto and other CFDs, such as stocks, commodities, and indices, but we don’t recommend it.
AxianceFX is an unregulated trading brokerage without a license. Don’t invest your money there, and if you already have, contact us for help with a refund.
No, AxianceFX doesn’t offer a risk-free Demo for its customers.
You can trade crypto and other CFDs, such as stocks, commodities, and indices, but we don’t recommend it.
The post AxianceFX Review: Why Was the Broker Banned From Operating? appeared first on Global Fraud Protection.
