AximTrade group includes 3 related companies.
AximTrade AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
AximTrade NZ - located in New Zealand, regulated by the Financial Service Providers Register (FSPR).
AximTrade SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
Unfortunately, AU company has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, SVG and NZ companies are free from such restrictions.
AximTrade group accepts clients from all over the world, excluding USA, Canada, EU, UK, Ethiopia, Gibraltar, Israel, New Zealand, North Korea, Philippines, Singapore.
Forex broker offers the following underlying assets for trading.
|30+ Currency Pairs||Based on major and minor world currencies.|
|35+ Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, EOS, Ripple, Cosmos, Cardano, Dash, Doge, Polkadot, Filecoin, Chainlink, Neo, Solana, Tron, VeChain, Stellar, Monero, Tezos, Aave, BNB, FTX, Algorand, Avalanche, Luna, Theta, Uniswap, Waves, Axie Infinity, Enjin, Fantom, Matic, One, Sandbox, Shiba.|
|10 Indice CFDs||Based on baskets of different blue-chip stocks.|
|2 Metal CFDs||Based on Gold and Silver.|
|2 Energy CFDs||Based on Crude Oil (WTI, Brent).|
|70+ Stock CFDs||Based on shares of US, UK and EU companies.|
AximTrade is a forex and CFD broker that is fully regulated in Australia and New Zealand - two countries known to have solid regulations and reliable government agencies users can turn to in the event of issues with a broker. In addition to these two entities, the broker also has an offshore entity based in Saint Vincent and the Grenadines, where forex brokers are not regulated by the government.
With entities registered in three different countries, it becomes important which one a trader ends up trading with. For instance, regulations in Australia have limited the highest possible leverage to just 1:30, while New Zealand (for international users) and most offshore jurisdictions allows essentially unlimited leverage.
With AximTrade, the maximum leverage is set to a whopping 1:3,000 for the entities registered in New Zealand and Saint Vincent and the Grenadines. Besides this, AximTrade has a special option it calls the “Infinite Leverage Account,” which allows users to “borrow a limitless amount of trading capital” from the broker.
A special thing to note about AximTrade is that this broker is fairly restrictive in terms of which countries it serves. The list of countries where residents are excluded from trading on AximTrade includes not only the usual countries such as the US, Canada and the UK, but also the entire European Union, and countries such as the Philippines, Singapore, Israel and others.
The trading instruments users on AximTrade can explore includes everything from traditional forex pairs, to CFDs based on important stock indices, single stocks, commodities, and a large selection of more than 35 cryptoassets.
All assets offered by AximTrade are traded on MetaTrader 4 (MT4), which is the only platform the broker currently supports. Despite originally being launched all the way back in 2005, the platform remains one of the most popular forex trading platforms among retail traders today. Among other things, MT4 supports one of the largest selections of automated trading algorithms (known as ‘Expert Advisors’) of any platform.
Also interesting for some traders is the opportunities to develop their own algorithmic trading strategies using the platform’s programming language MetaQuotes. This allows users to develop, test, trade with and potentially sell their trading algorithms, opening up an interesting new way to make money.
To start trading with AximTrade, new clients need to deposit money into one of four types of trading accounts:
– Standard account, with no commissions and spreads from 1 pip
– Cent account, with no commissions and spreads from 1 pip
– ECN account, with commissions from USD 3 and spreads from 0 pips
– Infinite account, with no commissions and spreads from 3 pips
To fund a trading account, users can choose either an e-wallet service like Skrill, Neteller, FasaPay or a number of others, in addition to Visa, MasterCard, UnionPay and local bank transfers in Malaysia, Vietnam, Indonesia, Thailand and China.
We are also happy to see that this broker accepts account funding with the cryptocurrency tether (USDT) sent over the Ethereum, Tron or BNB Chain networks.
For any support needs, AximTrade clients can contact the broker via email or the live chat option on its website. The broker promises that its support team is available 24 hours a day on all trading days. Unfortunately, however, the broker has not shared any phone number its clients can reach it on.
In summary, AximTrade appears to be a fairly typical offshore broker given the ultra-high leverage that is available and the possibility of funding accounts with crypto. Still, it should be mentioned that trading with offshore and unregulated forex brokers is risky, and that this risk applies here for users who are trading under the Saint Vincent and the Grenadines-registered entity.
Potential clients should therefore make sure they fully trust this - or any similar broker - before depositing any money with it.