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AXCapital Review – Learn More About This Scam Broker
Table of Content
There’s something really fishy about this broker. The first thing that strikes us is the shady website and the lack of transparency in the legal documentation. Thus, we felt it was our duty to write the AXCapital Review in order to warn people about this fraudulent scheme and prevent the wrongdoers from achieving its goals.
|Headquarters||3212 River Rd, Frankfort, MI, 49635, US|
|Broker Type||Forex, Crypto, Indices, Stocks|
Are You Safe at AXCapital? Regulation and Security
This newly-registered fraud decided to go full-anonymous mode on its website. There is no info on the owner company or regulatory status.
If you think this is suspicious, you’re on the right track. Here’s another clue – we found the following address in the “contact” section: 3212 River Rd, Frankfort, MI, 49635, which is located in the US. However, the phone number starts with (437), the area code for Toronto, Ontario, Canada. We’ve checked the North American Numbering Plan (NANP).
Furthermore, in the “Terms & Conditions,” we found a sentence that mentions “Cyprus time,” indicating that the whole document was copied from somewhere else. Why would a US-based broker be interested in the time zone in Cyprus?
There’s not much to add here. To make sure, we visited the websites of top-tier renowned financial market regulators such as the FCA, BaFin, CySEC, etc., and found nothing on AXCapital. Therefore, we conclude that this unscrupulous entity is unregulated and dangerous.
Trading Platform Overview
AXCapital claims it offers “advanced trading tools and expert support to improve your trading strategy, analyze the market, and manage your trading risks effectively.” However, we are certain that this is not the case.
First of all, such a promising description of a trading platform would prompt you to think you’ll be getting the industry’s best software, i. e. Meta Trader 4 & 5. Yet, all you’ll get is a simple, insufficient, and dysfunctional web-based platform that will hardly suit your needs.
Aside from being lackluster, web platforms are also easy to manipulate. The scammer allows you to deposit funds and then creates an illusion of trading. You see charts and movements, maybe even profits, but it is all fake. Thus, stay away from unlicensed providers and their platforms.
Instead, look for reliable brokers that will proudly display a license and offer you the aforementioned MT4 & 5. These two programs will undoubtedly facilitate your trading experience and secure the best possible conditions.
Account Types Available
It seems that we’re dealing with a patient scammer here. Why do we say that? Well, because, unlike most fraudsters, AXCapital allegedly offers a free demo account. Plus, it places particular emphasis on “FREE”.
Typically, scam brokers do not offer a demo account since they base their schemes on a direct approach. This one, however, was clever to include one in order to appear legitimate. Despite that, it failed miserably since everything else on the bogus website is wrong.
AXCapital tempts you to try out the demo account and then proceed to open a live account. Only those two account types are available on the website.
The fraudulent broker devoted an entire page to the trading assets it allegedly offers. These include Forex pairs, cryptocurrencies, stocks and indices. Each offer seems promising, just as the scammer intended.
Yet, AXCapital failed to list the available instruments for each asset. Although it mentions, for example, major, minor and exotic pairs for Forex trading, there are no details about the leverage, spreads or commissions for each individual currency pair. How is a client supposed to know the conditions under which he/she trades? It’s all very shady.
AXCapital Deposits/Withdrawals Methods
This is crucial when you decide to open an account, right? So, wouldn’t it be appropriate to include a comprehensive list of available payment methods along with all the necessary information about fees?
Guess what, AXCapital is missing just that. We had to thoroughly search the legal section for the info we need on deposits and withdrawals. Unsurprisingly, there is no structure there but we found that the phony broker accepts payments via credit cards and wire transfers. That’s something but the minimum deposit amount was not mentioned.
Hence, we believe that the scammer carefully chooses unsuspecting victims and privately tells them how much they need to pay. This is yet another vile trick often used.
Furthermore, given everything we dug up about this fraudster, we assumed we’d find something on bonuses and we were right. Keep in mind that bonuses are banned by top regulators because they are always conditioned with unfavorable clauses that prevent clients from withdrawing funds.
How Can I Get My Money Back If AXCapital Scammed Me?
Since the scam broker mentioned it accepts credit cards and wire transfers, we are going to tell you about two ways you could get your money back. Consider a chargeback and a recall.
A chargeback is a reversal of credit/debit card transactions. It can be requested at the issuing bank within 540 days. However, if you’ve provided the scammer with copies of your personal documents, the chargeback may fail.
A wire transfer could be reversed via recall. But, if the transaction has gone through, a recall will be impossible. Thus, you must act quickly.
- AXCapital is an unregulated scam broker that allegedly operates in the US;
- The broker does not exist in the register of US regulators (CFTC & NFA);
- The broker’s website is completely anonymous;
- The minimum deposit amount was not disclosed;
- Payment methods include credit cards and wire transfers.
FAQs About AXCapital Broker
Is AXCapital a Reliable Broker?
AXCapital is not a reliable broker since it is anonymous, shady and unregulated.
How Long Does It Take To Withdraw From AXCapital?
AXCapital claims that withdrawals take up to seven business days from the moment of request.
What Is The Minimum Deposit For AXCapital?
AXCapital did not disclose how much clients have to deposit upon opening a live account.