AXOFA-Some Important Details about This Broker

AXOFA 4040773012

General Information

AXOFA is a forex broker registered in Saint Vincent and the Grenadines, providing access to a massive financial market. With the AXOFA platform, three trading accounts are available, with the lowest required opening deposit being just $1, and traders can employ a maximum leverage of 1:500 on their positions. However, when it comes to regulatory information, AXOFA disappoints us as it is not authorized or regulated by any regulatory authority.

Account Types

Cent accounts, BIMAX accounts, and PELOW accounts are the available options for traders. All account types have a $1 minimum deposit, making them accessible to both novice and experienced traders.

Margin Call: 100%, Stop Out: 20%.

Demo Accounts

With AXOFA's demo account, prospective traders can test out different trading strategies to trading without putting their own money at danger, resulting in a more relaxed trading experience.

Spreads & Commissions

Trading accounts set the commissions and spreads. Trades in the Cent and Bimax accounts are commission-free, and spreads start at 1.6 pips on average, whereas trades in the Pelow account start at 0.0 pips but cost $3.5 per lot to open.

Leverage

Maximum leverage for major forex is 1:30 in Europe and Australia, and 1:50 in the U.S. and Canada, while AXOFA enables its clients to use leverage of up to 1:1000. This is significantly greater than the limits judged appropriate by many regulators.

Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size (no more than a 1:10).

Trading Platform

The MT5 trading platform, widely regarded as the best in the business, is available through AXOFA, which can be accessed on Windows, MacOS, IOS, Android.

Payment Methods

Customers can use the following deposit and withdrawal options with a minimum $1 deposit including VISA, MasterCard, Local Exchanger, and more.

However, AXOFA is vague about the time required to process withdrawals and the associated fees.

Customer Support

Contact this broker using the following methods if you have any questions or problems with your trading:

Online Chat

Telephone: +44 730 8813 444

Email: support@axofa.com

Company Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent and Grenadine.

Or you can also follow this broker on Facebook, Twitter, and Youtube.

Risk Warning

Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.

The information presented in this article is intended solely for reference purposes.