Axe Market Review – Brokerage Scam Trying to Defraud Investors

As of May 2023, the broker (AxeMarket.com) has ceased operations. But you can read the article to avoid falling for similar scammers.

Is Axe The Market a Scam to You Should Avoid?

Let’s start with Axe Market regulation. This is an important aspect of selecting a trading firm. A license must be obtained from your country by the broker. You cannot expect to receive reimbursement from a compensation fund, or assistance from the Financial Ombudsman.

Axe Market is said to be based in the UK so the license should be issued by the FCA. We were unable to find a license when we searched.

Further, the company claims that it is authorized in “various jurisdictions around world,” without specifying. These claims can’t be confirmed.

Brokerage houses that accept residents of the UK or EEA must adhere to ESMA laws. They also need to keep leverage below 1:30. Axe Market broker, however, offers leverage up to 1:500 which can expose your funds to risk.

The scam broker is there to steal and take as much money as possible from you. If you have any questions about their operation, please contact our team.

Axe Market is an alleged London-based brokerage. The firm is not licensed by the FCA. Their reputation as a financial intermediary is affected by negative reviews.

Are You a Victim of Axe Market Trading Scam?

Axe Market is still in operation as of September 3, 2019, and regulators have yet to expose it. This scam targets residents in:

• Australia
• Sweden
• US
• Belgium
• Netherlands

We would be grateful if you could provide any additional information. We can work together with regulators to stop this scam company from boarding more people in the future.

What trading platforms are available?

The Axe Market trading platform was described in the section about benefits as “award-winning platform- Axe Market Trade Station (GMTS)”. However, a Google search did not return any results for GMTS. We cannot access the demo account because the broker does not have one.

If there is any platform, we can assume the firm offers basic WebTrader. It’s possible, however, that they will steal your money and then disappear. We advise caution.

Axe Market does not offer third-party software such as MT4, MT5, and cTrader. Each platform is a industry standard, with millions of users and top-notch tools.

What trading assets can a broker offer?

Listing trading assets without a platform is difficult. Here’s what we know about the website. Trades are possible for clients in:

• Currency pairs – EUR/USD, USD/ILS, GBP/SEK
• Indices – DJIA, NASDAQ, FTSE100
• Shares – Amazon, Intel and Asus
• Commodities – Gold, Silver, and Brent Oil
• Cryptocurrencies – BNB, USDC, SOL

Please note that commissions and trading fees are not included in the list and that leverage is prohibited by the regulatory allowance.

Comparing Trading Accounts – What is the Difference?

These are the five types of AxeMarket accounts:

• Bronze – $10,000
• Silver $25,000
• Gold $50,000
• Premium – $100,000
• Platinum $250,000

Minimum deposit $250. However, only Bronze account holders can enjoy any perks. Clients with the Gold account will receive basic education and support, while clients with the Gold account will be able to trade without risk.

These empty promises are made to lure you into putting more money down. It’s impossible to invest risk-free. If there were, everyone would want it.

How do I withdraw money from the Axe Market

These payment options are available for Axe Market withdrawals:

• Credit/debit card
• Wire transfer

Clients pay a 5% fee for cards. Wire transfers are free. If you accept any bonus, the company can impose a minimum volume of trading. You cannot request a withdrawal before you reach this volume.

This volume isn’t known in advance so there’s plenty of room for scamming and delay.

Many reviews have stated that it is almost impossible to get a payout without legal assistance.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

Axe Market: Video

Below you will find a short video about Axe Market. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Axe Market!