From the first seconds of meeting its users, online broker Axiom Trade starts assuring that it works with innovative ideas in the field of trading and offers its clients exclusively new generation platforms. In this review we will find out if it is true, if Axiom Trade company is honest in financial matters, if this broker has a license and, in general, if the information that Axiom Trade offers on its official website is true. The reviews of the real traders as well as the check of the registration documents at the site of the financial regulator and the information about the domain of the company website will help us to make an impartial review.
Types of trading accounts offered by Axiom Trade
Judging by the information on trading accounts the broker's goal is to lure into its network not only the beginners who try to operate with small amounts at the start-up, but also experienced traders who can earn good money.
Axiom Trade offers a choice of two account types (Basic and Advanced) explaining it by the desire to satisfy each client's needs regardless of his financial possibilities and experience.
There are 6 categories in total. Each category consists of three account types:
- basic, standart, classic;
- professional, premium,vip.
As we can see, each package has an individual minimum deposit size.
The lowest package starts from $250, and the highest from $50 000.
At first glance everything is clear and honest. But experienced traders will understand: as practice shows, setting the minimum tariff at $250 the broker hides cooperation with intermediaries who are specialized in processing of non-trading transactions. In detail, the trader's account replenishment and withdrawal occurs through such persons or companies.
How can it turn out for the client of such a broker? In the case of disagreement, in this case, customers have no way to force a refund. MPS guarantees, i.e. the law is powerless in this situation, as the user has no documentary evidence of the fact of his money transfer to the company, because in fact there are no transactions with him.
That is, any deposited amount - $250, $1,000 or $50,000, along with earned money - can disappear from a client's account at any time, and the broker will remain unpunished and with good profits.
Doubtful care of the client's well-being, which the scam broker tells so colorfully on the main page of his website.
Axiom Trade Trading conditions
A client comes to a broker for an opportunity to trade on the stock market. In their pursuit for the client brokers vied with each other offering profitable conditions, bonuses, telling about break-even trading and heightened attention to the client's success.
Axiom Trade is one of the numerous dealing companies, i.e. the intermediary companies, working at Forex market, which factually flood the Internet today.
Types of trading offered to clients: assets, cryptocurrency, investing in securities.
Despite the fact that it is difficult to pick on brokers' promises, not everything is so positive with their implementation. For example, most of the promises generously given by Axiom Trade, in practice turn out to be absolutely unrealizable.
Let's take promises of break-even trading and fast profit as an example. This is a deliberate lie. Profit in online trading is not unconditional. Rather, it is regular fluctuations, where plus is replaced by minus and vice versa.
Often dishonest brokers, such as Axiom Trade, use a number of tricks, such as adjusting the quotes to the benefits of the broker, too attractive bonus programs (as in Axiom Trade, the welcome bonus starts at 30%, depending on the selected package).
Naturally, in order not to spoil the impression of a generous and unselfish broker, the broker does not mention the "pitfalls" on the official website. That is, the trader will have to learn about a number of mandatory requirements in the process of work (when the client has already entered the personal data and deposited the account). In this case, the non-fulfillment of all conditions is a penalty and financial losses of the trader, up to blocking of the account with all savings.
Often a broker knows beforehand that the loss of the starting deposit is guaranteed to newbies, that is why they prefer not to withdraw money from the market at all. As a rule, the process of cooperation with the broker by the fraudster is the following: the client deposits the account, the broker creates an illusion of the active trading, but does not withdraw the money from the company.
Often the company demonstrates falsified quotations to the client.
Experienced traders understand that practically every beginning trader of Axiom Trade Company will lose their first deposit, because the broker is repeatedly caught not withdrawing the money.
Axiom Trade Licenses
Possible tricks are inherent to most brokers, both legal and illegal, as their profits largely depend on the failures of traders. It is quite another matter, when a swindler is caught behind attractive promises and profitable terms hiding a "soap bubble", or when a company is an illegal swindler.
To avoid problems in the future we should carefully check the documents of Axiom Trade Company. After being caught in the false information presented on the official website, it is possible that this broker may work without a license.
According to the address provided, the company should be regulated The Financial Service Unit of the Commonwealth of Dominica or (FSU) is the main financial regulator in the Island of Dominica, it is one of the most stringent financial authorities in the Caribbean and is quickly becoming a major participant in the offshore regulatory framework. It regulates offshore banks, credit unions etc.
In other words, like most online trading scams, Axiom Trade hides itself offshore. The documentation required for this business is not available.
The footer of the home page states that Axiom Trade is owned and controlled by a company called Widdershins Group ltd, and Axiom Trade only owns some rights (it is not mentioned which ones).
In studying the information about this company, it is known that it has managed to acquire a negative reputation, it is called a scam. Forex scammers run many projects. For example, this company owns the websites of various companies, the focus of which is lending, investments and other financial operations.
The Axiom Trade website mentions many years of work in the field of trading operations. When accessing the website of an independent service WhoIs, which allows you to check the registration data of domain names, IP addresses and offline systems and tell about the fact of registration of the company's domain, got the following information:
The re-registration fact took place at the end of March 2021. No other data is available.
The fact that the site is offered in four languages (English, Russian, Italian and Romanian) does not allow to say that the company is represented in many countries, because it has no basic document for the activity. And the full control and ownership of the site by recognized fraudsters, does not add "points" to the broker Axiom Trade.
Brokers often use false licenses and certificates in order to make it easier to get clients and to have less problems with them in the future. Axiom Trade scammers are too lazy to do even that.
Despite the phone number, actual address and email address of the support service indicated, it will be, to put it mildly, difficult to contact them: all the data is fake.
The actual address, where the main office is located according to the broker's information, is fake. Moreover, it is chosen by none of the similar fraudulent organizations.
Axiom Trade Reviews online
Of course, the site offers only positive, laudatory reviews. Most likely, they are written by the company itself. For an objective assessment it is recommended to collect reviews on different independent resources.
Analysis of information about Axiom Trade allowed us to collect more or less complete information about the broker.
As many traders note, the main goal of the dishonest broker Axiom Trade is not to let the trader make money. For this purpose everything possible is done: fake quotes are exhibited, creates the appearance of interrupted telephone/internet communication, accuses traders of violating the terms of trade on the platform, etc.
Promising 24/7 support, in fact few people manage to get it.
By the way, the website states that the company works 24/5, and below, the broker only talks about a five-day work week.
Former clients also talk about the pressure from the employees, who demand regular replenishment of the deposit, constantly increasing the amount. At the same time, the client receives brighter promises of mutually beneficial cooperation and successful trading.
Scammers operate according to the scheme, which has been worked out for years on trusting clients: they include background noise in telephone conversations (creating the illusion of office atmosphere), persuade to deposit some hundreds dollars, and after training and analytics help (options, which come as a bonus), they guarantee not only the sum return, but also the income growth.
The bottom line is the theft of traders' money.
Mistakes on the website, the discrepancy between promises and reality, frustrated and angry traders who encounter financial fraud - this is the flip side of the coin when working with a scammer Axiom Trade.
Safety and security of funds with Axiom Trade
Having no legitimate reason to work, Axiom Trade asks for the personal data of its clients and before starting to trade offers to sign an agreement which is drawn up in such a way that the broker is able to manage the client's money at his own discretion.
For its part, Axiom Trade withdraws all obligations to traders, which is stated in small print on the fraudster's website.
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Axiom Trade is undoubtedly a typical swindler. The facts presented in this review give the right not to recommend this broker as an intermediary for investments. All the facts are there: there are no relevant documents, the reviews are negative. Stay away from them, because the office is very murky and not trustworthy.