No account information, no Terms & Conditions document, their Web Trader is barely working… But they’ve still parted a huge number of people from their hard earned cash. Don’t fall for the Boiler Room Agent’s dirty tricks! Find out how to stay protected, and which warning signs to watch out for in our Axiau Review.
One of the major issues with Axiau is that there is so little information on their website, and we couldn’t even tell which country they operate from. This is crucial piece information, because the licensing conditions vary from country to country. It is exactly because of this that we advise our readers to always select a regulated broker operating in their own country of residence.
To understand why licenses and authorisation are so important, we need to remember how different nations enforce risk mitigation strategies. One of the most strictly regulated areas currently is the EEA, as the financial regulators from the EU are subject to the MiFID agreement, which is overseen by ESMA.
In the EU, a broker must provide a minimum initial capital of 730 000€, and a compensation fund of 20 000€. Other safety standards include Negative Balance Protection and Segregated Bank Accounts. European regulators have limited the leverage to 1:30 for CFDs and 1:2 for Cryptos, and do not allow any bonuses.
Australia’s main financial regulator, on the other hand, has very similar safety standards. The major difference is in the minimum starting capital, which is set at 1 000 000 AU$.
With the leverage of 1:100, we can see that Axiau is not eligible for a trading license anywhere in the EU, nor in Australia. We have, of course, checked the regulator databases in these jurisdictions. None of the regulators in Europe, inside or outside of EU, and this includes BaFIN, CONSOB, CNMV, FINMA, AMF, FMA, CBR, NKCPFR have any information on Axiau. The same goes with Australian ASIC and South African FSCA.
This is solid proof that Axiau does not have a license, and that they operate their company without authorization.
You can easily tell apart what the actual clients wrote at first glance – the positive reviews are all assembled from the same pieces of text. It’s good practice to report this kind of behavior whenever you spot it. Spreading awareness helps keep the internet that much more safe.
Here is what all the disgruntled users of Axiau have to say:
Fake trading website. There is no auto trader and when I wanted to withdraw, I was ignored flat out. 750 USD investment became 2700 USD with trading profit, exercised the withdrawal option, no funds to withdraw, money gone!!! […]
Excuses whenever I submitt a witdrawal for,m . I got tired of their tantrums as it was clear now. […]
Do Not invest with Axiau Pro, they are a very slick bunch of con artists who take your money and disappear leaving you wondering how such a good impression could go wrong so quickly. In short they are a bunch of thieves 🙁 […]
We’ve seen that these fraudsters use viral marketing to attract more customers, but of course it doesn’t end there. Scams are usually layered, and employ a couple of strategies simultaneously. Axiau makes their website minimalistic, and presents all information in as little detail as possible. This way, a client will have to rely on an “Account Manager”, or as we call them, a Boiler Room Agent.
We are aware that the Boiler Room Agents from Axiau spend a lot of time dialing phone numbers from the registry. They present themselves as financial professionals, and keep pestering you with phone calls until you give in and invest money.
Another piece of the Axiau puzzle is in the payment options, which employs a fraudulent money transfer service. We will discuss this in more detail later in our Axiau Review.
Scammers know that you can’t take the money from the people who don’t have any. This is why they target people from developed nations. It is mind numbing how the frauds from Axiau have managed to spread their influence globally, with their site operating only since late 2022.
Our professional legal team is currently looking into the Axiau.Pro scam, and we’d like to hear any information you have on the swindlers, in order to stop this disease from spreading further.
Below is a list of the countries most affected by the Axiau fraud:
Axiau.Pro offers a very simplistic trading platform to their clients. The software in question is the Web Trader. You might have already heard of this software, as it’s among the oldest ones around. The only pros of this software is that you run it directly from your Web Browser, no download or discrete installation is necessary.
Although Axiau.Pro does not employ a discrete mobile application. It is still possible to access the Web Trader from your mobile device, however. We do not recommend this for obvious reasons. The problems the Web Trader presents on your computer are still present on your other devices.
One of the things we actually liked about Axiau is the sheer volume of information pertaining to the Financial Instruments. There are comprehensive lists of assets, with expected spread, commission, and leverage. Tables automatically adjust values when you try to compare different accounts…
The only issue we have with these tables, besides the problem of Axiau being illegitimate, is in the visual design. They are black and white, and really mess up your eyes quite quickly when you scroll the site.
Let’s have a look at a quick summary of different assets available at Axiau:
We hit a hurdle when we attempted to review the account types with Axiau. Account creation and login to Axiau was simple enough, but the dashboard didn’t contain information either.
We found out that the account names are Bronze, Silver and Gold, but nothing beyond that. There is no data on how much they cost, or which trading features you can expect other than a slight difference in Spread and Commission.
That’s how the scammers get you – they make you agree with something that was not precisely outlined or defined. That allows them to change the rules of the game any time they want!
Strangely enough, Axiau.Pro contains a number of invitations to create an account. The buttons are labeled as “Live Account” and “Create an Account”. Both of these buttons lead to the same account creation page.
This might seem as a design oversight at first glance, but then you remember how much effort legitimate brokers invest in their websites. Scammers don’t bother with quality – if someone gets hooked, all the better for them.
We have already mentioned that the commendable part of the website design is in how transparent the Spreads and Commissions are, even with the poor selection of colors. When we examine these tables, we’ll see that spreads are pretty loose, starting with 6,7 for some Forex Majors. That’s pretty steep by any standards. Commission is 0,0029% across the board.
That’s about all the information there is. The scammers claim to have no hidden fees, but we couldn’t verify this claim. Many pages return a 404 error, and that also includes the Swap and Commissions page. There is no Terms and Conditions document.
The biggest deal breaker with Axiau.Pro is not in how poorly the website is made, but how they handle their financial transaction. As is the norm with these scam brokers, Axiau requires multiple personal documents in order to verify your identity. Scammers are known to abuse these documents and commit identity fraud as well. They can impersonate you and charge your credit card until they drain all your money.
Additional problem is that the transaction service providers for many of these transfers are other scam companies! These companies pretend to be legitimate e-wallet providers, the same way Axiau pretends to be a legitimate broker!
As you have seen with customer testimonials part of our Axiau Review, it might be impossible to chargeback your money without legal help.
You’ve seen which methods Axiau uses to defraud people online. Their website is of poor quality, and their trading platform is quite lacking, but these swindlers use other fraudulent companies’ services to cover their tracks. Transactions are made untraceable, and the frauds just sit back and relax with your money in their hands.
Don’t let it end like this! Contact our Legal Advisors via the Live Chat option to book a free consultation as soon as possible. We’d like to hear your story, as it helps us recover not just your money, but of many others who have already had problems with the Axiau and other scam brokers. The time is of the essence – the less you wait, the better your chances.
Axiau is an unlicensed Forex broker scam. We do not advise anybody to invest with this fraudulent firm, and if you have already deposited money with Axiau, consider contacting our Legal Team for help in recovering lost assets.
There is no information on the Minimum Deposit that Axiau requires to begin trading.
There is a rather large number of different Cryptocurrency assets available for traders at Axiau.
Axiau is an unlicensed Forex broker scam. We do not advise anybody to invest with this fraudulent firm, and if you have already deposited money with Axiau, consider contacting our Legal Team for help in recovering lost assets.
There is no information on the Minimum Deposit that Axiau requires to begin trading.
There is a rather large number of different Cryptocurrency assets available for traders at Axiau.
The post Axiau Review – This Poorly Made Website Will Make You Poor As Well appeared first on Global Fraud Protection.
