AximTrade

General Information & Regulation

AximTrade, a trading name of AximTrade Pty Limited, is allegedly a forex broker registered in Australia that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:∞ and variable spreads from 0.0 pips on the world‘s leading MetaTrader4 trading platform, as well as a choice of four different live account types and 24/7 local language support. Here is the home page of this broker’s official site:

As for regulation, AximTrade says it is regulated by the Australian Securities and Investments Commission (ASIC), AFS Representative No. 1294600 under AFS License No. 435746. However, it has been verified that the broker has a suspicious clone National Futures Association license. That is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and it receives a relatively low score of 1.15/10. Please be aware of the risk.

Market Instruments

AximTrade advertises that it offers access to a wide range of trading instruments in financial markets, covering forex currency pairs, metals, energies, indices, cryptocurrencies, stocks and commodities.

Account Types

AximTrade claims to offer four types of trading accounts, namely Standard, Cent, ECN and Infinite. The minimum initial deposit amount is only $1 for the Standard, Cent and Infinite accounts, while the ECN account has a much higher minimum initial capital requirement of $50.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Standard account can enjoy the maximum leverage of 1:3000, the Cent, ECN and Infinite accounts have the leverage of 1:2000, 1:1000 and 1:∞ separately. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

AximTrade claims that different account types can enjoy quite different spreads. Specifically, the spread on the Standard and Cent accounts starts from1 pip, the ECN account has spread as low as 0.0 pips, and the Infinite account holders have spread as high as 3 pips. As for commissions, there is no commission charged on the Standard, Cent and Infinite accounts, while only the ECN account will be charged a commission of $3.

Trading Platform Available

The platform available for trading at AximTrade is the worlds most widely used MetaTrader4. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

AximTrade says to accept deposits via Neteller, Skrill, FasaPay, WeChat, AliPay, China Union Pay, MomoPay, Zalopay, UPI, Paytm, Net Banking, QuickTransfer, QR Code, USDT(TRC20), USDT(ERC20), BEP-20, Online Banking, Perfect Money, Local Bank Transfer and Local Depositor, while withdrawals with Neteller, Skrill, FasaPay, USDT(TRC20), USDT(ERC20), BEP-20, Online Banking, Perfect Money, Local Bank Transfer, Withdrawal INR and Local Depositor. The minimum deposit and withdrawal amount differ depending on the method, more details can be found in the below screenshot.

There is a deposit commission of $1-2 for USDT(TRC20) and BEP-20, $15-25 on USDT(ERC20), while other deposits are free. All withdrawals are said to be free of charge. As for the processing time of deposit and withdrawal requests, all deposits and withdrawals are instant.

Bonuses

AximTrade claims to offer a trading bonus and deposit bonus, yet we cannot be sure if the bonus can be withdrawn without any limitation. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

Customer Support

AximTrade‘s customer support can be reached by email: support@aximtrade.com, live chat or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram and LinkedIn. Company address: 103 566 St Kilda Rd Melbourne VIC 3002. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.

Risk Warning

Online trading involves a significant level of 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.