Axim Trade (aximtrade.com) is a Forex brokerage located in the Saint Vincent and the Grenadines and allegedly owned by Axim Trade LLX. In the review below, we take an in-depth look at the feat Axim Trade allegedly offers. This review aims to explore the trading platform, listing out aspects like licensing, its leverages, account types, and its withdrawal and deposit methods. It also aims to fact check claims that have been made by AximTrade.com to determine whether it is safe enough to trade with or if it is just one gigantic scam.

Axim Trade  Landing Page

Axim Trade Trading Platform

The site states that this broker supports the MT4 trading platform. They offer assets such as Forex (with leverages up to 1:3000) CFDs, Indices, Stocks, and Precious metals.

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The website also adds reasons like:

  • They are Honest and Reliable
  • Have tight spreads
  • Round the clock support

Axim Trade Account Types

In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.

After thoroughly checking we discovered that this broker has three account types with suspiciously low deposit required.
STANDARD ACCOUNT……….Minimum Deposit 1$
CENT ACCOUNT…………Minimum Deposit 1$
ECN ACCOUNT…………. Minimum Deposit 50$

Axim Trade Deposit and Withdrawal Methods

Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.

This broker supports deposits and withdrawal through Visa and MasterCard, as well as bank wire and China UnionPay, QuickTransfer, AliPay. FasaPay and Bitcoin. However, payment options such as Skrill and Neteller are not supported.

This broker claims not to have any withdrawal fees.

Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal.

Is Axim Trade Licensed?

Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.

This broker claims that is owned by AXIMTRADE LLC and is located at First Floor, First Saint Vincent Bank Ltd. Building, James Street, Kingstown, St. Vincent and the Grenadines. It also claims to be registered with number 328 LLC 2020 by the Registrar of Limited Liabilities Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines.

First of all, the address given is one mostly used by scammers. Secondly, Saint Vincent and the Grenadines is a well-known offshore zone, and a preferred location for shady brokerage. This broker claims to be regulated by the government of SVG, and the government of the SVG has stated in the past it does not regulate any form of forex trading.

So in order to ascertain if this broker was licensed, we had to check several regulatory bodies. We checked the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others. At the end of our search we didn’t find any licensing information concerning this broker.
So, no, this broker is not a licensed broker

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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage
1:500

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Licensed in Australia(ASIC) and Cyprus(Cysec)

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage
1:500

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Conclusion

We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.

In conclusion, we wouldn’t advise or recommend you to trade with Aximtrad .com as they don’t give any information concerning if they are a regulated broker.

Aximtrade.com is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.

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