Aximtrade Broker
Aximtrade (aximtrade.com) has caught the attention of both users and regulators. This Aximtrade review analyzes who Aximtrade claims to be, the services it offers, its regulatory status, common red flags, and actions to take if you lose money. It also highlights how this case relates to broader types of scams seen in online trading.
About Aximtrade (aximtrade.com)
Warning – Not recommended by the review website like Truclaim.tech
Website: https://www.aximtrade.com/
Address: NA
Regulation Status: Unregulated
Operating Since: 2019-09-25
AximTrade Review: Complaints, and Regulatory Concerns
Registration in Saint Vincent and the Grenadines
AximTrade was established in 2020 and registered in Saint Vincent and the Grenadines. However, its registration status with the Financial Services Authority (SVG FSA) has been marked as cancelled.
It is important to note that registration in Saint Vincent and the Grenadines does not automatically imply regulatory oversight for forex trading. The SVG FSA does not license or supervise forex brokers. Therefore, even when active, such registration only confirms corporate formation — not regulatory approval.
The cancellation of this registration further weakens the AximTrade broker credibility and eliminates any claim of standing within that jurisdiction.
Website Shutdown and Lack of Transparency
The company’s official website, aximtrade.com, is no longer accessible. There have been no public announcements regarding restructuring, rebranding, or relocation of services.
When a brokerage ceases operations without clear communication, it creates uncertainty for existing clients. The absence of transparency surrounding the firm’s status and future plans adds to the overall risk profile.
Federal Court Orders Liquidation
AximTrade, a brokerage firm that previously claimed to operate under regulatory authorization, is no longer functioning. The Federal Court of Australia has ordered the liquidation of AximTrade Pty Ltd following legal action initiated by the Australian Securities and Investments Commission (ASIC).
The case was brought forward due to insolvency concerns and a significant number of client complaints. Court-ordered liquidation typically indicates that a company is unable to meet its financial obligations. This development raises serious concerns for clients who may have had active accounts or pending withdrawal requests at the time of closure.
Client Complaints and Trust Issues
AximTrade scam currently holds a low Trustpilot rating of 1.7 out of 5, reflecting widespread dissatisfaction among users. Many reviewers reported account freezes, rejected deposits, and difficulties accessing their funds.
Several complaints referenced alleged liquidity shortages as the reason behind deposit rejections and trading disruptions. Additionally, numerous clients claimed that the broker obstructed or delayed withdrawal requests. Withdrawal-related issues are often one of the most significant red flags when evaluating the reliability of a forex broker.
Consistent negative feedback from multiple users suggests systemic operational problems rather than isolated incidents.
Final Assessment
With court-ordered liquidation, a cancelled offshore registration, a non-functional website, and numerous client complaints regarding withdrawals and account restrictions, AximTrade now presents a high-risk profile.
The company is currently in liquidation and does not process client withdrawals. Investors should exercise extreme caution and avoid engaging with entities that lack active regulatory oversight, transparent communication, and financial stability.
Lost Funds to Aximtrade?
If you have lost funds to Aximtrade, take action now. Fill out a form to ask for a case review and get fund-recovery assistance.
Is Aximtrade a Trustworthy Platform?
To figure out if Aximtrade is trustworthy, consider the following points:
- Does the broker have a valid license from a top regulator (FCA, ASIC, CySEC, etc.)?
- Does the website have verifiable company registration information?
- The phone numbers, office addresses, and legal documents are real and can be traced.
- Are customer testimonials similar, or do a lot of users say that there are problems with the withdrawal?
Conclusion:
- With the lack of proper licensing or company information, the risk might be much higher. Always check before you deposit any funds.
How Risky Platforms Often Operate?
Here are the suspicious trading platforms’ tactics that are used the most:
“Pig-Butchering” / Long-Term Manipulation
Scammers first build a connection through chat apps, social media, or dating sites and then lead the unaware to trading on platforms where they are eventually ripped off.
Clone Trading Platforms
Such platforms imitate real trading platforms — showing rising balances, charts moving favourably — but these are fake. Withdrawals may be allowed initially, then blocked later.
Other Indicators
- Calls or messages urging you to make large deposits.
- Assurances of very high returns with no risks and short waiting times.
- Requests for “taxes” or “clearance fees” to be paid before the cash-out can be processed.
- A website that looks perfect, but in reality, it just hides the lack of regulatory disclosure.
- Fake user reviews, getting celebrity endorsements, or buying reviews to create an illusion of credibility.
Warning Signs Associated with Aximtrade
- Absence of a valid, verifiable license number.
- The company address and contact information are either nonexistent or hard to trace.
- The application of forceful sales strategies is pushing for large deposits very quickly.
- The claim of “guaranteed profits” is not credible.
- The online reviews speak of payments being stopped, support disappearing, or staff being unresponsive.
What to Do If You Have Invested with Aximtrade?
Should you have already deposited money with Aximtrade and suspect problems, do the following steps right away:
- Stop all communication with the platform and the representative that is connected to it.
- Let your bank or payment processor know about it – inquire about charge-backs, blocking more payments, or recovering funds.
- Collect proof – keep all communication, screenshots of the trading platform, deposit slips, chat logs, email threads, and transaction IDs.
- Inform the authorities – reach out to your local police or cybercrime department and lodge a formal complaint. Also, inform the financial regulator that is relevant to your jurisdiction.
- Get professional help for the recovery – if the losses are considerable, consider very carefully reliable fund-recovery or legal assistance (check credentials, fees, and past cases before hiring). Consider professional assistance or a free consultation if losses are substantial
Quick Summary
Aximtrade lack of regulatory oversight, along with the multitude of red flags, makes it a high-risk market. If you decide to go on, it is imperative to check its license, corporate identity, and withdrawal history first. Read more about cryptocurrency scams and discover how fraudsters exploit fake exchanges, investment schemes, and phishing tactics to steal digital assets.
For more updates, follow us on:
No responses yet