Numerous warning signs are associated with Axiancefx. We will uncover each of them in this AxianceFX review. AxianceFX portrays itself with great confidence as a notable brokerage located in Canada. Nonetheless, the truth is that this firm operates without any form of supervision from the respected local regulatory body.
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To safeguard your funds to the highest degree, we strongly advise against participating in any business transaction or arrangement with Axiancefx.
Website – www.axiancefx.com
Address – Canada
Warned By – Ontario Securities Commission (Ontario), and Commissione Nazionale per le Società e la Borsa (Italy)
Regulated – Unregulated, Blacklisted
Regulation
AxianceFX operates as a concealed trading brokerage. The identity of the owner and other substantial details remain undisclosed. Remarkably, the name itself suggests an attempt to piggyback on the reputation of another firm, Axiance.
Curiously, the company designates the governing law in its Terms & Conditions as that of Estonia. Although an EU member state, Estonia has gained notoriety for accommodating various unregulated brokers and being associated with money laundering within the EU.
Warnings Issued Against AxianceFX
The regulatory body overseeing Ontario, Canada, officially issued a cautionary advisory against the broker AxianceFX. The Ontario Securities Commission (OSC) explicitly indicated that the company lacks registration for conducting securities trading activities.
Similarly, the Italian regulatory authority CONSOB also released a cautionary notification pertaining to the identical company. Notably, as part of its notifications, the Italian regulatory body also takes measures to restrict access to websites of deceitful entities within the country.
AxianceFX Review: Trading Platform
Axiancefx claims to present a web-based platform, touted as advanced but to be rather generic and deficient in features when juxtaposed with the robust platforms offered by established competitors in the market.
For those in pursuit of a genuinely top-tier trading platform, the ultimate solution lies within MetaTrader 4 and 5. These platforms stand as the embodiment of exceptional quality.
AxianceFX Review: Trading Accounts
AxianceFX offers several types of trading accounts to its clients like Basic, Silver, Gold, Platinum Diamond, VIP, and Black. The minimum deposit for these accounts starts from €250 and extends up to €50,000.
The bonus escalates in correspondence with the account tiers, progressing from 30% for the Basic account to 100% for the VIP and Black accounts. Leverage spans from 1:200 to 1:1000, defying prevailing regulations. Supposedly, each account level entails heightened educational resources and support. However, it’s imperative to bear in mind that unregulated brokers are known to make grand promises without necessarily fulfilling them.
Trading Instruments
The platform provided by AxianceFX presents an extensive array of trading possibilities, spanning various financial instruments. These encompass Forex, Stocks, Indices, Commodities, and Cryptocurrencies.
Deposit and Withdrawal Methods
AxianceFX exclusively permits payments through Credit/Debit cards. Notably absent is an AxianceFX Withdrawal Policy, with no pay-out particulars provided within their Terms & Conditions. Given the entirety of the insights gained thus far, casting doubt upon the feasibility of withdrawing funds from your account is reasonable.
It’s highly likely that you could encounter coercion to settle purportedly non-existent fees and taxes prior to your account being permanently restricted.
AxianceFX Review: Trading Conditions
The brokerage promotes initial spreads of 1.5 pips, aligning with the standard across the industry. In addition, there are overnight trading swaps and a $10 per lot commission applicable to select accounts. In totality, this constitutes a rather expensive venture.
While AxianceFX alluringly high leverage ratios, including 400:1 on currencies, might capture interest, it’s crucial to recognize that unregulated brokers frequently employ such elevated leverage to allure traders into precarious investments. Participating in trades with excessively high leverage can potentially lead to substantial financial setbacks.
Conclusion
AxianceFX operates as an unlicensed and unregulated trading brokerage. It’s advisable to refrain from investing your funds with them. If you’ve already invested, reach out to us for assistance in seeking a refund. Fill out a complaint form on our Scam Bitcoin website and get a free consultation from our experts.
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AxianceFX Review was first posted on August 18, 2023 at 8:30 am.
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