Axe Market Review – Read The Truth About This Scam Broker
Trading with this broker will surely make your life a living hell financially. A fake owner, no jurisdiction, no license, and a website full of lies. Hence, we plan to stop that from happening by warning you about the risks associated with this fraudster in the Axe Market Review. It’s high time you learned the truth.
|Unlicensed Scam Brokerage
|Blacklisted as a Scam by:
|MT5 & WebTrader (allegedly)
|Yes – BTC, USDT, ETH…
|Types of Assets:
|Forex & CFDs
|Free Demo Account:
|Accepts US clients:
Axe Market is Not a Regulated Scam Company?
Facts! Axe Market is virtually anonymous, which means it hides in the shadows behind a fake corporate website and just waits for the right victim. It claims to be operated by Eruditan Limited, but that’s just a hoax.
Debunking the legal status of this financial swindler was really easy. All we had to do was search the database of the local regulator, i. e. the Financial Conduct Authority (FCA). To provide financial market services in the UK, you have to be registered with the FCA.
Axe Market is a completely anonymous scam broker that lied about operating in the United Kingdom. The con artist targets traders from the Netherlands, the United States, Australia, Belgium and Sweden.
Why It Is Better Not to Choose An Unlicensed Broker
Needless to say, Axe Market is unlicensed and not really a legit UK-based broker. To explain why that’s bad, here are the key benefits you’ll miss out on if you decide to trust the fraudster.
Negative balance protection, segregated funds in a Tier 1 bank, a compensation scheme worth 85,000 GBP, transactions reports, and leverage restriction (1:30). Also, the broker has to boast a minimum operating capital of 730,000 GBP.�
Not bad, eh? Every FCA-authorized broker provides these perks. Cyber frauds such as Axe Market, on the other hand, don’t care about your well-being.
Axe Market Software – How Safe Is The Platform?
When it comes to the trading platform, Axe Market was clever enough to say it offers Meta Trader 5 and WebTrader. The former is highly unlikely, but the latter is extremely probable. Since there’s no demo account, confirming which platform is available was impossible.
Nevertheless, MT5 is arguably the cream of the crop in the world of trading. This cutting-edge software offers advanced tools such as customized automated & algorithmic trading, branch optimization, live market reports, API integration, and more. There’s no way a scammer like Axe Market could provide you with a legit MT5 platform.
On the other hand, we believe the broker offers WebTrader, which is a rudimental and ineffective browser-based platform susceptible to manipulation.����������
Axe Market Range Investment Opportunities – Trading Instruments
In order to increase the likelihood of a scheme succeeding, a wide range of trading instruments has to be included. Axe Market knows this.
- Forex pairs – EUR/USD, AUD/GBP, CHF/NZD…
- Indices – NASDAQ100, UK100, FRA40…
- Commodities – corn, crude oil, natural gas, silver…
- Stocks – Samsung, Coca-Cola, Volkswagen…
- Cryptocurrencies – BTC, USDT, ETH, XPR…
Don’t fall for it. It may seem attractive but always bear in mind that you’re dealing with an illicit and unregulated broker.�
Where Does Axe Market Commit Fraud? – Countries Of Service
We managed to make a list of countries where Axe Markets rolls with its foul plot but we’re going to need your help as well. If you’ve had an interaction with this scammer, please let us know so we can inform the regulators about it.
- The Netherlands;
- The United States.
The scam has been ongoing for far too long. With our joint efforts, we could finally give it the axe.
What Are The Different Axe Market Account Types?
Axe Market offers a total of five different account types. Take a look:
- Bronze – 10,000 $;
- Silver – 25,000 $;
- Gold – 50,000 $;
- Premium – 100,000 $;
- Platinum – 250,000 $.
These prices made it clear to us that Axe Market goes all-in. This one-shot scheme relies heavily on persuading unsuspecting victims to make the huge initial deposit. If they do, the scammer takes the money and disappears. That’s why the prices are absurdly high.
Axe Market Managed Account Services
The unscrupulous broker will do everything in its power to take your money. It will even assign some shady operators to manage your account and finances. In other words, to make sure the scammer is getting the loot. Terrible, to say the least.
How Much Is Leverage, Spreads, and Fees
Axe Market claims to offer “highly-competitive spreads,” but we have an issue with that. If the spreads were really that great, wouldn’t it be logical to disclose them?�
Keep in mind that scammers actually do offer tight spreads from time to time, but combine them with really high commissions and fees. In this case, Axe Market did not say how much it charges.
As for the leverage, the maximum level is 1:500, which is crazy and proof that Axe Market is illegitimate. The legal limit is 1:30 for retail clients and the regulators didn’t set it out of boredom. This was done to prevent enormous losses in volatile markets. At high levels such as 1:500, you’re walking a very thin rope.
Minimum Deposit and How Do I Withdraw?
We’ve already covered the insanely high prices that Axe Market set but what about the payment methods and withdrawal fees? We found that Axe Market uses the following methods:
- Credit/Debit Cards;
- Wire Transfers.
There’s nothing wrong with these two traditional payment methods, but nowadays, it’s better if there are more options such as e-wallets and crypto assets.�
The shady broker says it charges a 5% fee for card transfers while wire transfers are free. Yet, wire transfers always come with bank commissions. As for withdrawals, we believe the scammer won’t allow any since that’s the way these schemes are done usually.
Scammed by Axe Market Broker? – Allow Us to Hear Your Story
If you’ve been scammed by Axe Market, we could surely use your help in putting the fraudster away. Feel free to share your experience so we could offer you aid. Also, we can assist you in getting a refund. Consider requesting a chargeback or a recall.
What Is the Chargeback Procedure?
- Credit/debit card transactions can be reversed via chargeback.
- This process can be requested at the issuing bank within 540 days.
- To reverse wire transfers, you’re going to need a recall.
- A recall is only possible if the transaction hasn’t gone through yet.
Contact us today and start your chargeback process.
What Is Axe Market?
Axe Market is undoubtedly a fraudulent scammer that offers Forex, CFD and crypto trading.
Is Axe Market a Scam Broker?
Yes. The con artist lied about being from the UK. The FCA has no info on the broker in its database.
Is Axe Market Available in the United States or the UK?
Axe Market is available to traders from both the United States and the United Kingdom.
Does Axe Market Offer a Demo Account?
No. There’s no demo account or trial account. Thus, it is impossible to see the trading platform unless you register.