The broker Axe Invest is situated in the overseas territory of the Marshall Islands. It offers as many as five distinct trading accounts, and most of them operate in a commission-free manner. The spreads available on any account for trading is not specified. The higher leverage ratios are also available at this broker. Micro trading lots are available to trade. However, the broker we are mentioning here is not licensed and regulated. In this Axe Invest review, we will make sure to cover all the crucial information our readers require before start trading with this broker. Read the full Axe Invest review here.
About Axe Invest:
The broker has five trading accounts viz Micro, Premium, VIP, STP or ECN, and Zero Fixed Spread. The minimum initial investment of $100, $2500, $20000, $50000, and $50000 require respectively. The maximum leverage of 1:200 and 1:500 is offered on different accounts mentioned above. We always make an impartial and authentic review in this unique process we talk about possible benefits and drawbacks of the brokers. First, we will discuss the potential benefits of Axe Invest. The leverages offered by Axe Invest are very high and can satisfy most of the broker’s needs. However, these leverage levels are massive losses causing as well. Also, the minimum initial investment of 100 USD is quite favourable to the broker’s customers. Nevertheless, the broker is owned and operated by Madar Partners LTD, the company registered in the overseas territory of the Marshall Islands. The Marshall Islands territory is lacking regulation, and brokers from here are mostly scams. Furthermore, the Australian local financial watchdog Australian Securities and Investments Commission issued a fraud warning against it. It is a big worry for Axe Invest and scam sign for the traders. The broker also fails to provide insight into the spreads available for trading. It is another scam sign as no one knows what will be the actual cost of trading with Axe Invest. Also, the broker does not have any free demo account where potential traders can see actual trading conditions. The trading platform MetaTrader is not available at Axe Invest, and it is yet another setback. There are excessive withdrawal fees levied on the traders like $50 for bank wire transfer, $35 for credit card withdrawal, and $25 for e-wallets withdrawal. Also, every withdrawal is charged with 10% of the withdrawal amount in the name of the processing charge.
Is Axe Invest scam or legit?
The broker is not regulated, and it is sufficient evidence to call it a scam broker 2020.