Brief Look at AximTrade
AximTrade, a brokerage firm that operated since 2020 and claimed to hold license number AFSL 435746, is no longer functioning. On November 1, 2024, the Federal Court of Australia ordered the liquidation of AximTrade Pty Ltd. The case was filed by the Australian Securities and Investments Commission (ASIC), citing insolvency and numerous client complaints.
AximTrade did not possess its own Australian Financial Services License (AFSL). Instead, it operated as an authorized representative under AFSL 435746, which was issued to HLK Group Pty Ltd. AximTrade’s registration as an authorized representative was valid from March 2021 to April 2024, after which its status was terminated.
Despite prominently displaying the AFSL license and presenting itself as a regulated broker, AximTrade did not hold direct authorization to conduct financial operations. Legal and regulatory responsibilities were held entirely by HLK Group Pty Ltd.
A growing number of client complaints emerged starting in mid-2023. Traders reported extended withdrawal delays, forced closures of positions without consent, and outright refusals to process withdrawals. The firm currently holds a Trustpilot rating of 1.7 out of 5, with users citing account freezes and deposit rejections attributed to alleged liquidity shortages.
As of early 2025, the company’s website, aximtrade.com, is no longer accessible. No official statements regarding restructuring or rebranding have been issued. AximTrade is now in liquidation, does not process client withdrawals, and is considered a high-risk entity.
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