Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information
What is AXEL？
Registered in Canada, AXEL Private Market Limited (short for “AXEL”) is an brokerage firm offering its clients popular MT4 trading platform with API FIX, a wide selection of more than 400 trading options including currency pairs, commodities, stocks, indices, and cryptocurrencies. The broker is regulated by the Australian Securities & Investments Commission (ASIC, License No. 001281893) and provides competitive spreads, no commissions and flexible leverage up to 1:500.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
AXEL offers a variety of trading instruments and account types, as well as leverage up to 1:500 for forex trading. The broker also provides the MT4 trading platform for different devices and 24/7 customer support.
However, there are concerns about the broker's legitimacy and potential fraud, which should be taken into consideration when choosing a broker. Additionally, there is limited information available about the broker's deposit and withdrawal processes, as well as the minimum deposit requirement for its account types. Overall, potential clients should exercise caution and do their own research before investing with AXEL.
Note: This table is based solely on the information provided and may not be a comprehensive list of all the pros and cons of AXEL. It is important to conduct your own research and due diligence before investing with any broker.
AXEL Alternative Brokers
There are many alternative brokers to AXEL depending on the specific needs and preferences of the trader. Some popular options include:
FX Broadnet - A broker that offers a range of trading instruments with competitive spreads and low commissions.
Tasman FX - A broker that provides access to multiple markets and offers a variety of trading platforms to suit different needs.
TeraFX - A broker that offers a wide range of trading instruments with competitive pricing and a user-friendly trading platform.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is AXEL Safe or Scam？
While AXEL is regulated by Australia Securities & Investment Commission (ASIC, License No. 001281893) and claims to keep client funds in segregated accounts at regulated banks, the exposure of a client being unable to withdraw funds is concerning. It is important to exercise caution when investing with any broker and thoroughly research them before depositing funds. If you encounter any issues with a broker, you can report it to the regulatory authority or to our platform's Exposure section. It is always better to err on the side of caution and choose a reputable broker with a proven track record.
Market Instruments
AXEL allow its clients access to a massive financial market. Different asset types, including currency, stock, commodities, indices, indices, cryptocurrency and CFD, all available through the brokerage platform. This selection provides traders with the opportunity to diversify their portfolio and take advantage of different market opportunities. The availability of these instruments allows clients to explore a range of trading strategies and take positions in various global markets.
Accounts
Trading accounts from AXEL are available for both retail and professional traders. However, AXEL is tight-lipped on the amount of money needed to open an account and begin trading. Per account features listed below, each account is designed for different types of traders. For instance, Regular and DELUXE accounts are more suitable for retail traders, while VIP accounts are idea for professional traders who consistently pursue lower trading costs. Margin Call: 80%, Stop Out: 50%.
Leverage
AXEL offers high leverage of up to 1:500 for forex trading, which means that traders can control a larger position with a relatively small amount of capital. However, high leverage can also increase the potential for losses, especially if traders do not have adequate risk management strategies in place. For indices and commodities, AXEL offers a maximum leverage of 1:100. Traders should always be cautious when using leverage, and ensure that they have a good understanding of the risks involved before trading.
Spreads & Commissions
AXEL renders its clients a zero-commission trading environment, with spreads determined by what kind of trading accounts. With DELUXE accounts, you are offered spreads from 3 pips, and spreads on Regular accounts are lower, from 2.5 pips. VIP account holders can enjoy the most competitive spreads among these three accounts, 2.0 pips onwards.
It's worth noting that the information available is limited, and it's possible that there may be other fees or charges that are not disclosed. Traders are advised to thoroughly review AXEL's terms and conditions to fully understand their trading costs.
Below is a comparison table about spreads and commissions charged by different brokers:
Note that the information provided is subject to change and may not be up-to-date. It is important to check with the broker directly for the most current information.
Trading Platforms
In terms of trading platforms available, AXEL offers its clients access to the worlds most popular MT4 trading platform for Windows, Mac, iOS, Android, and WebTrader. The MT4 platform is well-known for its user-friendly interface, advanced charting capabilities, and customizable features.
With the MT4 platform, traders can access a wide range of trading tools and indicators, perform technical analysis, and execute trades quickly and easily. The platform is also equipped with features such as automated trading, expert advisors (EAs), and one-click trading, making it suitable for traders of all skill levels.
Overall, AXEL's offering of the MT4 platform provides a reliable and efficient trading experience for its clients.
See the trading platform comparison table below:
Trading Tools
AXEL offers a variety of trading tools to assist traders in making informed decisions. The Market Overview and Data provide up-to-date information on indices, commodities, and forex markets. The economic calendar helps traders stay informed about important events that may impact the markets. The Forex Heat Map displays real-time changes in currency pairs and provides insights into potential trading opportunities. The Forex Rates feature enables traders to monitor exchange rates and quickly spot favorable market conditions. Finally, the Stock Screener tool helps traders find stocks that meet their specific trading criteria. Overall, AXEL's trading tools are useful for traders who want to stay up-to-date and informed about the markets.
Deposits & Withdrawals
It is concerning that there is no information available about deposit and withdrawal methods for AXEL. Without such information, potential clients are left in the dark as to how they can fund their account and withdraw their funds. Additionally, without transparency in this area, it is difficult to evaluate the safety and security of deposit and withdrawal processes with AXEL. It is important for any reputable broker to provide clear and detailed information about how clients can deposit and withdraw funds to ensure a positive trading experience.
AXEL minimum deposit vs other brokers
Customer Service
Based on the information available on the AXEL website, the broker seems to offer a comprehensive customer support service. Clients can reach out to the support team 24/7 through phone, email, or online messaging for any queries or issues they may have. The broker also provides its physical address, which is a good sign of transparency. Additionally, the FAQ section on the website may help clients find answers to common questions.
Overall, AXEL's customer service is considered reliable and responsive, with various options available for traders to seek assistance.
Note that the above tables are based on the information available and may not be exhaustive.
User Exposure on WikiFX
It is important to exercise caution when investing with any broker, and this includes AXEL. There is a report of a client who complained that AXEL is a fraudulent broker and that they have changed their name. Additionally, the client was unable to withdraw their funds, which raises concerns about the legitimacy of the broker.
Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
Based on the information provided, AXEL is an ASIC-regulated broker that offers a wide range of trading instruments, including currency, stock, commodities, indices, cryptocurrency, and CFD. The broker offers various account types, but there is no information on the minimum deposit requirement. AXEL provides 1:500 leverage for forex and 1:100 for indices and commodities. The broker offers the popular MT4 trading platform for multiple devices. However, there have been reports of clients being unable to withdraw their funds, and some claim that the broker has changed its name. Therefore, caution is advised when considering AXEL as a broker.
Frequently Asked Questions (FAQs)
2024-11-04 10:27
