No commissions, five hundredth leverage, and up to 100% bonus on the account. Is this possible with a regulated broker? Axiance assures that yes. Maybe there are some other rules for this company? Or is it just another scam? We will figure out these issues and will read the opinions of traders in the reviews.
- Axiance General Information
- Registration and Client Portal Review
- Axiance Trading Conditions
- Account Types Review
- Trading Platform
- Axiance — Deposit and Withdrawal of Funds
- Additional Options
- Is Axiance a Scam?
- Legal Information and License
- Axiance.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Axiance General Information
|Address||CT House, Office 9A, Providence, Mahe, Seychelles|
Registration and Client Portal Review
We’d rather call the official website of Axiance very simple. The platform is translated only into English and is full of self-promotion. According to the broker’s assurances, it is a new kind for a new generation. It’s probably because it’s licensed. Apparently, there are no such companies in the world anymore (nonsense). In general, absurd statements are here at every turn. The visitor is directly urged not to wait, but to invest and immediately get a profit. At the same time, Axiance promises zero commissions and huge bonuses.
At first glance, registration with Axiance is standard. As with almost everywhere, you will need to specify:
- First and last name
- Email and phone number
- Country of residence and password.
You need to confirm your agreement with the terms and conditions.
However, it is not so easy to get into the Axiance Client Portal. The thing is that the broker does not provide services to traders from some European countries. Therefore, registration from such IP addresses is not allowed.
Axiance Trading Conditions
When we started to check the broker’s services in more detail, it turned out that ‘new kind’ and ‘new generation’ are just empty words. Axiance is a typical CFD broker with the most typical trading conditions in the world.
Account Types Review
Axiance does not mention which execution model is used in the trading. There are several types of accounts. They differ slightly in the size of lots, spreads, and minimum deposit. So, to open a Standard account, you can top up with just $100. There is a more advanced so-called Premium account. On it, the minimum deposit is 5 thousand dollars. The most exclusive account is a VIP with a 30 thousand dollars minimum deposit.
All accounts offer a bonus of up to 100% of the deposit. The more «premium» the account, the bigger the bonus. Almost the same rule, only in the opposite direction, applies to spreads. They are floating. The better the account type, the lower the spread’s minimum value will be. Besides, developing an individual investment plan for the client is provided for the premium account.
Although we did not manage to register in the Client Portal, a few words about the trading platform will still be found. Axiance does not hide that it provides MetaTrader 4 and MetaTrader 5 for trading. These are convenient terminals. The first one is not as advanced as the next version, MT5. However, at least it is much better than the scam platforms that most dealing desks offer. Besides, there are many additional services in MT5.
Axiance — Deposit and Withdrawal of Funds
Unfortunately, there are also no novelties in the methods of depositing and withdrawing money. You can deposit money into the account using a credit card, bank transfer, or e-wallet. Commissions are not charged unless they are provided by the payment system itself. Processing of withdrawal requests usually takes one business day.
Customers are required to verify their accounts for identification and security purposes. According to the Axiance requirements, traders have to provide photos of identity documents and addresses. Also, confirmation of the phone number and payment method may be required. So, the broker may ask you to take a picture of a bank card or get a bank statement.
We did not see any additional interesting services in the description of the trading conditions. At least, Axiance offers all traders access to Trading Central. That is an analytical company that provides forecasts. Brokers usually buy subscriptions to its articles. Then the analytics is simply transmitted to the trading terminal. In MetaTrader, this option is enabled. So you will receive forecasts right during the trading session
Is Axiance a Scam?
Even though Axiance claims to be a first-class broker, there are quite a lot of controversial points. They can make you refuse to cooperate with it.Let’s look at them in more detail.
Legal Information and License
First, of course, offshore registration alerted us. Brokers are registered in Seychelles and other islands due to the lowered level of control over their work. Naturally, tax avoidance plays an important role. Almost all scammers prefer such jurisdictions. It is unclear only why Axiance does not consider himself to be such.
The next thing that is definitely worth discussing is the Axiance license. How can a broker get this document from the Seychelles FSA? Have a sufficient amount of authorized capital. And a couple more interesting points. Such a license is needed only to provide services to citizens of this jurisdiction. For the rest, the broker may well work without the relevant documents. Well, at least the residents of Seychelles can count on regulation.
Axiance.com Domain Info
Checking the domain showed that it was created back in 2005. However, we do not believe in such a long period of the broker’s existence. That’s why we checked the web archive data. In 2020, the site was still empty. Axiance started posting content there only in 2021.
Axiance does not want to talk to clients on the phone. Therefore, there is simply no number in the contacts. However, email is still presented. It may take a long time to respond to emails. So you should be patient when contacting support.
The Axiance trading conditions clearly hint at fraud. Up to 1 to 500 leverage is almost a direct way for a client to lose a deposit. Besides, the bonus program is also very questionable here. 100% bonus on deposit is quite a lot. Trading conditions for such bonuses rarely allow them to be withdrawn. Axiance provides such a bonus in the form of borrowed funds. The broker can charge this money from the client’s account at any time.
Oh, yes, one more point. Even though you can find data on the Cyprus registration of Axiance on the web, this has nothing to do with reality. The management company, Aerarium Limited, is not registered in Limassol. So, the broker does not have the right to provide services to traders from the EU.
Pros and Cons
- Small minimum deposit.
- Access to analytics.
- Offshore registration.
- License valid only for one jurisdiction.
- High leverage.
- Negative reviews.
- Poor trading conditions.
Frequently Asked Questions (FAQ)
The broker offers standard CFD trading on MT4 and MT5 platforms.
The broker has quite loyal trading conditions. It allows you to top up your account with just $100.
No, it is a typical offshore broker. Despite the fact that it has a license from the FSA, this document can only be a guarantee for citizens of this offshore state.