Axe Invest Review Scam Complaint
Axe Invest Review – An Introduction
Axe Invest is an offshore unregulated forex and CFD broker. It has started its trading business in 2017 and now is owned by Madar Partner Ltd. Madar Partners is located at Trust Company Complex, Marshall Islands. Offshore zones like this Marshall Island are famous for their lax tax and legal regimes. These zones are basically not licensed and that’s why not subject to supervision by any authority. Therefore, it is sure that many of them are pure scams.
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About the Axe Invest:
Axe Invest is an unregulated forex and CFD broker that offers six types of accounts Micro, Standard Account, Platinum Account, Premium, VIP Account, and Business Account. The minimum deposit ranges from $250 to $500000. The one good thing about this broker is that it provides leverage in range of 1:100 to 1:1000. This leverage range is sufficient for many potential traders in meeting their needs of all kinds of trading. Also, there is a high risk associated with this; it can give more profit and big loss as well. Unlike most creditable brokers, Axe Invest does not specify the spreads it offers, the commission fees it charges on the Zero spread accounts, on its website. This lack of transparency in terms and conditions of a broker’s pricing policy is a big red stop, especially combined with unregulated offshore registration.
Most brokerage companies do not charge any type of fees on deposits and withdrawals, but Axe Invest charges pretty disturbing withdrawal fees, $50 for bank wire transfers, $35 for withdrawals with credit cards, and $25 per transfer via e-Payments. Moreover, MT4 platform is not provided by the broker, instead a self developed platform is provided. On top of everything, reputable authority, the Australian Securities and Investments Commission (ASIC) has also issued a warning against the broker Axe Invest. According to ASIC, the broker has been illegally offering its services to Australians without any authentic authorization. Considering all the disadvantages of this broker, it is a scam broker.
Is Axe Invest legit or scam?
The Axe Invest is an offshore unregulated broker that has been warned against by ASIC. The trading platform provided by this broker is self developed and is not promising at all and the potential scam broker warning is a big no. Lack of transparency in trading conditions and hidden terms make it worse. All being said, Axe Invest possesses a big risk to investor’s hard earned money. This is a scam broker.