AxnFX (Axnfx.com) is another CFDs and Forex scam to hit the lucrative trading world. AXN FX is claiming to be the world’s leading trading network offering the lowest spreads on commodities and indices. We have some members who have been going through a hard time with this platform. Members are crying foul after having their accounts closed for no reason. Read this genuine and honest AXNFX Review for more details.
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After receiving numerous email complaints from members of this website, we decided to investigate. A closer look at the website will reveal some shocking truth which the naked eye can’t spot. Ensure you stay safe when dealing with online investment platforms and their affiliates. Make sure you read reviews from trusted experts who will give you an honest analysis of platforms. Continue reading this AxnFX Review and find out some of the tricks used to scam investors.
Professional scam artists will come up with enticing websites just to fool investors into signing up. AxnFX is doing the exact same thing as they fail to show users their hidden agenda. With a well-designed website, investors are fooled that this is a genuine platform. Far from it, this is a money making scheme on behalf of online scam artists. Thanks to our years of investing and trading experience, we know how to spot a scam from a mile away. Make sure to observe some of the little details we expose.
Disclaimer at the footer of the homepage claims the platform is owned by Power Business Group Limited. The disclaimer goes ahead and claims the platform is located in Seychelles which means this is an offshore platform. Offshore brokers are notorious for breaking set industry regulations and rules. Make sure to stay away from such illicit platforms which are based offshore. AxnFX is going to steal your money and make it hard for you to recover the lost funds.
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Another shocking issue we discovered with this platform is the level of anonymity involved. Who are the actual founding members of this platform? You would expect the platform to have names of the people running the show. We don’t know the names of any broker associated with this platform. And this is where the problems starts, anonymous online investment platforms are a risk. Investors who sign up give out personal details when signing up which means they sell their data to third parties.
Scam artist will do or say anything to make sure users see the platform as legit. And this is what AxnFX is doing with their claim of being licensed in Seychelles. We checked with the Financial Services Authority of Seychelles to try and confirm their status. What we noticed is that the company is not recognized by the official regulatory body in Seychelles. The scam artist have gone ahead and posted random numbers as their license number. And this is proof that scam artists will do anything to appear legit.
Why have they failed to post copies of their license certificates like other legit platforms? A legit online platform will let users see and confirm the authenticity of their license documents. Without any copies of their license certificates, we can never trust the numbers used as license details. These are scam artist who are looking to steal from unsuspecting online investors. Stay away from these platforms and make sure you confirm a broker’s license details. Legitimacy is a must for online investment platforms.
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From what we can gather, the platform has no trading advantage. Based on the numerous email complaints from members, this is another rotten platform. Members are crying foul after their account managers block their calls and refuse to allow withdrawals. Only scam platforms have such malicious services. Investors should be wary of the consequences of signing up with this illicit platform.
AxnFX is furnishing users with three account types to choose from. Accounts are listed as Classic, Premium, and Pro. What we noticed with these accounts is the similarities with features. A good example is having chart access which should be granted to all investors. Why would they offer a limited chat service to investors?
Another shocking issue we discovered with this platform is having an offline chat service. What AxnFX is offering is AnyDesk which is an app for taking over someone’s desktop. These are scam artists who want to steal your personal details once you click on their AnyDesk app. What this points to is a scam platform waiting to pounce on anyone who signs up. Ensure you stay away from their illicit platform.
What we noticed odd with their demo account is producing odd results. These scam artists have designed a way to ensure the demo account produces insane profit margins. With their demo account, AxnFX is seen as producing over 98% successful trades. Even with a robot, such margins are not achievable for obvious reasons. Market prices change constantly making it hard to accurately produce such a high win margin.
When it comes to the payment methods, the platform has this well-covered. Depository channels include American Express, Bank Transfer, Skrill, Visa, and more. They have made sure anyone from any part of the world can have access to this platform. Withdrawing funds is still the biggest problem one can face with this platform. No one is able to withdraw funds from Axn FX. And this is where we draw the line with this illicit trading platform. AxnFX is simply another online scam.
Your funds are never safe from an anonymous and unlicensed platform. Segregation of accounts is another problem which we must raise with this platform. Investors are depositing funds straight to owner’s personal bank account. To be safe, stay clear of this platform.
Evidence is clear, we are dealing with a scam platform out to cause havoc to online investors. Make sure to stay away from this platform by marking their emails as spam. Never click on any links sent by their email marketing team as they contain malware. Ensure you warn your family and friends from joining any of their affiliate programs. Once their account managers call you, block their contact details.
We will be adding this platform to our scam blacklist to ensure no one else falls for this trap.
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Wishing all investors a lucrative and safe trading experience.
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