AxianceFx Review – Be Maximally Cautious With This Broker
Even though the company presents itself with offices in the UK and Canada, it’s barely possible. Especially considering their advertised trading conditions. On top of that, the AxianceFX broker doesn’t reveal any information about the company’s ownership.
Therefore, this AxianceFX review presents you with all pros and cons of this shady broker. But mostly cons. But we also encourage you to read our FinanceCapitalfx and Novatech fx reviews. More clarity equals more security.
|Headquarters||UK & Canada (allegedly)|
|Warning||OSC, CONSOB, CMVM|
|Minimum Deposit||250 EUR|
|Spread||From 1.5 pips|
AxianceFx Regulation and Funds Security
If we take into consideration their addresses, the company should have licenses from the UK and Canada. In this case, trusted institutions would be the FCA and IIROC or OSC. Unfortunately, upon search of those registers, we didn’t come up with any results about their license. We were wondering if they managed to get some other Tier 1 licenses.
For example, from Australian ASIC, US CFTC or German BaFin. But no. The results were even worse. AxianceFX scam broker earned multiple warnings. Starting with OSC, CONSOB and CMVM. They are obviously trying to clone regulated companies. But they failed. Read the warnings yourself.
Without proper regulations, this company is not obligated to comply with any laws. That’s exactly what makes it dangerous for any trader.
Trading Platform Overview
The most reliable trading software nowadays is Meta Trader. But honestly, cTrader is really keeping up with them. Those platforms provide highly reliable trading tools, stability and numerous advanced features. Moreover, both are available for iOS and Android devices. But the AxianceFX broker scam didn’t bother investing in software.
Instead, they provide traders with bald web-based software. Only basic trading tools and charting options are available. But also a few minor fundamental analysis tools. Considering their bad reputation, this is clearly a warning sign. This software is easily manipulated. The agent working with you can make up market data or even your account balance. Be aware of that with any non-regulated broker.
Another key sign of that is the software they are promoting on the website. It’s called TeamViewer and serves scam brokers to control your device. But of course, after they gain your trust. Thus, that’s the easiest way to get money from traders. Just steal it from the bank account or crypto wallet. In general, that’s why you never give access to your devices.
AxianceFx Account Types
With AxianceFX scam broker, traders can choose 7 account types. However, AxianceFX reviews show us that regardless of the account type you have the same destiny. Anyway, you can choose between:
- Basic 250 EUR
- Silver 2.500 EUR
- Gold 10.000 EUR
- Platinum 25.000 EUR
- Diamond 50.000 EUR
- VIP 100.000 EUR
- Black 250.000 EUR
The main benefits of higher account types are higher bonuses and leverage. In fact, both of those are banned by many worldwide regulators. Primarily due to malicious clauses and enormous risk. According to European Securities and Markets Authority (ESMA), companies can only provide leverage of up to 1:30. Thus, this investment scam works out with 1:1000.
Other benefits are just fake promises about the broker’s assistance. Generally speaking, that only works before you request a withdrawal.
Deposits and Withdrawals
Another key aspect of every broker is their funding methods. Some prefer traditional methods like cards and wire transfers. While others prefer anonymous crypto transfers and offshore e-payment options. With AxianceFX broker the choice is simple. You can use:
- Debit/Credit cards
- Wire transfers
At least according to the broker. However, it’s not rare that once they gain your trust that they promote other options.
The company has a total withdrawal processing time of up to 10 days. But don’t raise hopes there. The company has a malicious clause that will prevent you from withdrawals. A bonus policy or non-deposited funds policy is the key. Traders must obtain a minimum trading volume 30 times bigger than the deposited amount plus added bonus. Generally speaking, close to impossible.
Methods Used to Commit the Scam
Besides fraudulent marketing campaigns and false promises, here are some active dirty tricks. The first one comes with the platform. Since the broker can access the back end they can easily change the market data. Therefore, traders might think they are in a problem and there is a need for a margin call deposit.
Once traders realize that it’s all fictive, they try withdrawing money. Thus, there is a bonus clause that prevents you from doing so. Nevertheless, the broker might change their mind in case you are willing to pay a withdrawal fee. Which is insanely high and doesn’t make sense. If you send money, you won’t hear from the broker again. But the same happens even if you don’t send it.
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AxianceFX broker is trying to clone the licensed broker. But they failed. Primarily because they don’t have any regulations. Also, there are multiple warnings against the broker. If that’s not enough, there is shady trading software.
But even if that is not enough, you have a malicious withdrawal policy and many negative reviews. Nothing will keep you safe except for knowledge and patience.
FAQs About AxianceFx Broker
Is AxianceFx Legit?
No. The company is not licensed and many regulators issued warnings against them.
AxianceFx Minimum Deposit?
The minimum deposit is reasonably too high for a scam broker and it’s 250 EUR.
What Are The Funding Methods for AxianceFx?
Funding methods that this broker accepts are quite standard: Debit/Credit cards and Wire transfers.