Axiau Review: Scam Signs to Watch Out For
Despite how credible a broker site may seem, there are always certain scam signs to watch out for. Throughout our years of exposing financial swindlers, we’ve learned how to recognize them.
Our unbiased Axiau review will provide more information about this firm. Let’s see why you should avoid it.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Trading Scam|
|Blacklisted as a Scam by:||N/A|
|Cryptocurrencies:||Yes – BTC, XRP, ETH|
|Types of Assets:||Forex, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
Is Axiau a Scam CFD Trading Broker?
The first and most straightforward way to recognize a trading scam is by checking its regulation. Namely, if a company is unlicensed, it means it’s not authorized to offer trading services. It further means that you can quickly be scammed, and you won’t be able to file a complaint with the Financial Ombudsman or request money from a compensation fund.
Therefore, this was our first instance. We tried finding Axiau regulation with major Tier 1 regulators such as ASIC, FCA, BaFin, CNMV, etc. We also tried with regulators in the country of service, such as South African FSCA and French AMF. Nothing gave any results.
This, combined with the lack of details about the owner and the absence of legal documents, assured us that we were right. Axiau is nothing but a bogus trading fraud.
Traders’ Opinion Of Axiau.pro
At this point, we turned to traders’ opinions to verify our hunch. At the time of writing, the company had 81 reviews on Trustpilot, with a rather solid score.
However, there was also a warning about the number of fake reviews that were detected and removed. Hence, we expect the score to lower over time. You will notice a pattern if you read some of the genuine comments of users with more than one review. The broker asks clients to pay huge taxes before approving withdrawal requests, and their banks started blocking deposits as too many people had already reported fraud.
Where Does the Broker Find Victims?
Now that we know for sure we’re dealing with a scheme let’s see where it lurks for victims. Namely, scam brokers advertise their services primarily through social media such as Instagram and Facebook. Then, they redirect you to their website, which looks quite solid in the case of Axiau Pro.
The main countries targeted by Axiau fraud are:
- South Africa,
The domain was registered in the GoDaddy WHOIS database in October 2022 but has recently gained more customers. As there are no regulatory warnings, we’re aiming to reach as many people as possible and protect them from this swindler.’’
Axiau.pro Trading Platforms Choice
There’s no real choice with the brokerage. The only trading platform you can find is WebTrader. They call it “Cardani’s WebTrader,” and advertise the following features:
- MT4 login details
- Trading from the chart
- Real-time quotes and execution
- Smart one-click trading, etc.
However, there’s absolutely no logic in claiming that this browser-based terminal is anyhow related to MetaTrader. In fact, both MT4 and MT5 have their own browser versions. Therefore, we believe this is just another lure for inexperienced investors.
In addition, there are no mobile apps for Android and iOS.
What Trading Instruments Can I Find on the Platform?
This broker boasts about offering a large number of CFDs on top assets, such as:
- Currency pairs – EUR/USD, GBP/CAD, EUR/NOK
- Commodities – gold, silver, palladium
- Indices – AU200, FTSE100, NASDAQ
- Shares – Amazon, Asus, Intel
- Cryptocurrencies – BTC, USDT, USDC
While the choice seems solid, we must remember that all these instruments are on offer without a license. It means that even if you somehow manage to make a profit, you most likely won’t be able to withdraw it.
Leverage, Spreads, and Fees
Another reason why we say the broker’s site looks credible is its leverage. There’s a limit of 1:30 for Forex pairs and less for other assets. It complies with the laws of Australia and ESMA in the EEA zone.
The average spread for EUR/USD pairs is 3.5 pips, which is pretty high, knowing that the industry average is 1.5 pips. Other than that, clients are expected to pay a commission of 0.0029% per side on base currency for FX, 0.01% per side on commodities, indices, and shares trading, and 0.03% per side on base currency for crypto trading.
Axiau Account Types – What’s the Difference?
You can choose between three account types, mainly differing in trading costs. These are:
All accounts have the same leverage and the same assets, but the spread and commission are lowering. We don’t know the minimum deposit for any, except for the fact that you cannot activate an account with less than $250.
There’s no risk-free Demo account that would help us confirm anything stated on the website.
Is Withdrawing Profits Possible, and How?
The company accepts the following payment options:
- Debit/credit card,
- Wire transfer.
If you wish to submit a withdrawal request, the initial amount will be returned to the deposit method. The exceeding sum will then be sent to your bank account. Allegedly, it can take up to 2 business days after your request is approved to receive the money.
However, trader reviews assured us that payout is nearly impossible and that you will need legal aid. It’s important to stay calm and take steps to recover your hard-earned money.
What Can I Do If I Was A Victim of Axiau Scam?
Suppose you deposited the funds, made a profit, and cannot withdraw it. Our chargeback experts are here to evaluate your case during a free consultation to help you get your money back.
It’s not true that you have no options and that nobody can help. With over a decade of experience, we’re ready to assist. Get in touch, share your story, and the worst outcome is that you won’t accept our advice. Our consultation is non-obligatory, so let’s get started now!
What Is Axiau?
Axiau is an unregulated CFD trading brokerage operating without a license.
Does Axiau Offer a Demo Account?
No, Axiau doesn’t offer its customers a risk-free Demo account.
What is the Minimum Deposit with Axiau Broker?
The minimum deposit with Axiau broker is $250.