Is AximTrade Regulated? Is it safe? - TU Expert review
License is the most important document you have to consider when choosing a broker. Many traders, who would like to start working with AximTrade try to check whether it is regulated. Traders Union experts have already done that. In this article, you will learn whether AximTrade is regulated, what regulatory authorities supervise the broker and whether it is safe to work with the company in general.
Short summary about the broker AximTrade
AximTrade is duly regulated by the ASIC ( AFS № 435746) and SVGFSA ( 328 LLC 2020). AximTrade has built a good name globally thanks to unparalleled services, cutting-edge solutions, and highly competitive trading conditions. AximTrade has won four Global Forex Awards 2021. It is also the official partner of Alfa Romeo F1 Team ORLEN 2022. With AximTrade, customers can operate in a friendly environment and get access to trade currency pairs, indices, stocks, cryptocurrencies, oil and gold.
| 💰 Account currency: | USD, EUR |
|---|---|
| 🚀 Minimum deposit: | From $1 (cent, standard), From $50 (ECN) |
| ⚖️ Leverage: | ECN — Up to 1:1000, cent — Up to 1:2000, standard — Up to 1:3000, Infinite - Up to 1:Infinite |
| 💱 Spread: | From 1 pip (cent, standard), from 0.0 pips (ECN), 3 pips (infinite account) |
| 🔧 Instruments: | Currency pairs, CFDs on indices, metals, energies, cryptocurrencies, stocks |
| 💹 Margin Call / Stop Out: | 60%, 30% |
Pros and cons of AximTrade
👍 Advantages of trading with AximTrade:
•Regulated and globally recognized forex broker.
•The low entry threshold for starting trading is $1 for cent and standard accounts and $50 for ECNs.
•Tight spreads on all account types and average commissions per lot on ECN accounts in the brokerage market.
•High leverage up to 1:Infinite.
•The ability to deposit and withdraw funds using electronic payment systems and in cryptocurrency.
•The existence of a social trading platform that allows you to receive additional income for both investors and experienced traders.
•Free access to the popular MT4 trading platform.
👎 Disadvantages of AximTrade:
•An account with the broker cannot be opened by traders from several countries, including the United States, Great Britain, and Canada.
•The web terminal is not available to clients.
Why is it important to work with a regulated broker?
License is a document that certifies that a broker operates legally and guarantees fulfillment of its obligations to the traders. A financial license is issued by a financial regulatory authority of a country (the National Bank) or a specialized authority (for example, Securities Commission, Futures Trading Commission, etc.). It is important to choose licensed brokers for the following reasons:
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A license guarantees that the broker operates in compliance with the rules of the financial regulator that issued the document.
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In order to obtain the license, a broker must comply with certain requirements, for example, the size of the authorized capital or personnel qualification. It is simply not lucrative for scammers to comply with such requirements.
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A broker’s license provides access to real markets, and you can be sure that the quotes are real and up-to-date.
The best option is to work with a broker that holds the license of the jurisdiction, where the trader resides. You can also choose a company with a financial license of another reliable jurisdiction, for example, the U.S. or the European Union.
Is AximTrade Regulated? Broker’s license
Security (Protection for Investors)
The AximTrade Group is represented by the following entities and is regulated in various jurisdictions. AximTrade Pty Limited is regulated by the Australian Securities and Investments Commission (ASIC), AFSL no. 001294600. Huntington Services Limited is an IBC registered in New Zealand and is authorised as a Financial Service Provider (FSP) with license no. FSP6317469.
AximTrade LLC is incorporated under registration number 328 LLC 2020 by the Registrar of Limited Companies, LLC registered by the Financial Services Authority of Saint Vincent and the Grenadines and by the National Futures Association (ID: 0539713).
👍 Advantages
- Each client's money is transferred to a separate bank account
- Negative balance protection is active
- Thara Heights Owner's Corporation, the parent company, has been operating since 2010
- Electronic wallets are available for depositing and withdrawing funds, including cryptocurrency
👎 Disadvantages
- You can open and replenish an account without verification
- The company does not participate in compensation funds to protect customers’ deposits
- Difficulty filing a claim for private traders who live outside the jurisdiction of regulators
Brokerage fees
Broker’s regulation is the most important choice criterion. However, before you start working with the broker, it is also important to analyze its commissions and fees. TU analysts have studied the commissions and fees charged by AximTrade, which you can see below.
The AximTrade broker does not withhold commissions for deposits and withdrawals, however, some payment systems apply them. Skrill and Neteller charge 4% of the transfer amount for withdrawing money. Account maintenance is also free. As a trading commission, AximTrade maintains a floating spread: from 1 pip on cent and standard accounts; and from 0.0 pips on ECN accounts. Also on ECN accounts, there is an additional commission for each lot for USD 3 (for opening and closing a position).
| Account type | Spread (minimum value) | Withdrawal commission |
| Cent | From 0.01 pip | No |
| Standard | From 1 pip | No |
| ECN | From 0.0 pip | No |
| INFINITE | As Low as 3 Pip | No |
Brokers that are similar to AximTrade
Many brokers operate legally, obtaining relevant licenses and permissions. However, when choosing a broker, it is important to compare their trading conditions. TU experts have prepared a comparative analysis of AximTrade conditions with its closest competitors.
Comparison of AximTrade with other Brokers
| AximTrade | RoboForex | Pocket Option | Exness | Forex4you | Tickmill | |
|---|---|---|---|---|---|---|
Trading platform |
MT4 |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MobileTrading, MT5 |
MT4, MT5, Tickmill Mobile App |
Min deposit |
$1 |
$10 |
$5 |
$10 |
No |
$100 |
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:10 |
From 1:1 |
Trust management |
No |
No |
No |
No |
No |
Yes |
Accrual of % on the balance |
No |
No |
No |
No |
No |
No |
Spread |
From 0 points |
From 0 points |
From 1.2 point |
From 1 point |
From 0.1 points |
From 0 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution, S/L (stop loss) |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
No deposit bonus |
$55 |
No |
No |
No |
No |
$30 |
Cent accounts |
Yes |
Yes |
No |
No |
Yes |
No |
AximTrade offers its clients one of the most competitive trading conditions in the market including tight spreads, low balance requirements, variety of account types, fast execution, reliable customer service and a wide variety of payment solutions. Serving over 100,000 active clients from all around the world, AximTrade stands out for providing premium services with flexible leverage, 100+ trading instruments, 0.004s execution speed, and up to 100% bonus.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Pocket Option offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
Forex4you is an all-in-one broker for active and passive trading, rates well for both novice traders and professional level traders.
Tickmill is a suitable broker for both professional traders and novices. The company is good for robotic trading as well as for short-term strategies.
Conclusions
AximTrade is a quite reliable broker for trading. AximTrade operates on the license of a reliable jurisdiction and its operation is regularly monitored. However, the company does not offer the best trading conditions compared to competitors. You can choose this broker and not worry about the safety of your funds, but there are better options in terms of trading conditions.
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FAQ
How difficult is it to obtain a brokerage license?
The procedure for obtaining a license differs depending on the jurisdiction, but it is very difficult and expensive to get the document in a reliable jurisdiction. This is why only reliable brokers obtain licenses.
Why is it not recommended to work with offshore brokers?
Offshore brokers have to meet minimum requirements for obtaining a license and reporting, which is why often scammers get such licenses.
Can an offshore broker be reliable?
Yes, although there are not many of such brokers. There are brokers with a good reputation, but with an offshore license. You still need to be very cautious when working with such companies.
How do I check a broker’s reputation?
In order to check a broker’s reputation, you need to read user reviews. However, it is recommended to only use independent websites for that.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.