AXEINVEST Review Is Axeinvest.com A Legit Forex Broker

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Axe Invest Review – 5 things you should know about Axeinvest.com

Beware! Axe Invest is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Axe Invest is a forex brokerage which does not disclose much information about itself. Traders are provided with a hybrid trading platform and a wide range of trading products. From the website we gather that potential clients are also extended an extremely generous leverage of up to 1:500 and required to put up a deposit as low as $100 in order to do real-money trading.

Axe Invest regulation & safety of funds

According to the website of the brokerage the country behind it – Madar Partners LTD – is registered in the Marshall Islands. This is an offshore location which does not regulate forex trading, but does have very liberal laws regarding the registering of new firms. Precisely because of this it is a favorite location for many scammers since they needn’t even physically be there in order to register the company.

Furthermore, we could not see on the website any option for a test-drive of the trading platform which is another worrisome sign, especially if the brokerage is from the Marshall Islands and is not overseen by any authority. We do not even gather what the spreads are. Another troubling thing on the website is the address given in Russian which does not add up with the information presented on the website. The lack of crucial information, coupled with the clear lack of regulatory oversight are all warning signs for traders and reviewers alike. Such irregularities make us suspect that clients will be open to a number of risks.

We urge traders to exclude such risk in trading by only associating with brokers regulated by prestigious regulatory agencies, such as the FCA and CySec, which require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

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Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.

Axe Invest deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via VISA and MasterCard, bank/wire transfer, Upay card and ePayments. Popular e-wallets such as Skrill or Neteller are missing. Going through the brokers terms we did come across worrisome provisions such as excessive withdrawal fees. There is a fee of $50 for withdrawals via bank wire transfers, $35 for withdrawals with credit cards, and a $25 procession fee for withdrawals via ePayments . Judging by all the signs – Axe Invest is most likely a scam and scammers usually enjoy charging clients unexpected fees only after they have received their initial deposits.

This is why we remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

One of the reasons regulation has such value in the trading world is because scamming is quite common and it acts as a sort of guarantee that such a thing would not happen. Nevertheless, here is how a typical scam would go about:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Crypto Revolt where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And with the case of Axe invest – they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half. Visa is expected to do the same in December.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Axe Invest Review: is AxeInvest Scam or Legit Broker?

Axe Invest is a Forex and CFD broker owned and operated by Madar Partners LTD, with an address at Trust company complex, Ajeltake road, Ajeltake Islands, Majuro, Marshall Islands MH96960. AxeInvest contact phone number is +442080893060 and email address is [email protected]

Axe Invest Trading Platform

Trading platforms are the interface where the trading on assets such as commodities, currencies, stocks or indices are done. A good trading platform should have charting tools and indicators, it should also be easy to use and very fast in executing trades. Axe Invest broker offers the Tradersoft platform which have lots of assets to trade on including cryptocurrencies. Their max leverage 1:500

Withdrawal and Deposit Method

Axe Invest withdrawal and deposit methods could be carried out by the following means: Visa, Bank Wire transfer, MasterCard, Neteller, Skrill. The minimum deposit is $100

License and Regulation

Axe Invest is NOT a licensed broker. This means there are no regulatory bodies that monitors their activities to ensure they stick to best practices. Complaints about most unlicensed brokers are withdrawal issues(not being able to withdraw your money) and since they are unlicensed and unregulated, no regulatory bodies can fight for you, so you are left helpless. This is a source of major concern.

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