Recently, some investors reported that after depositing funds into AximTrade, they could not successfully withdraw their funds.
It is understood that before more AximTrade employees broke the news that due to financial problems, the company's employees have stopped receiving salaries. In light of this situation, the employee recommended that investors withdraw their funds as soon as possible to ensure the safety of their funds.
In addition, we note that AximTrade from August 1 this year to stop updating its Twitter, Facebook and other social platforms.
Based on the above information, one can't help but raise suspicions as to whether AximTrade has run away with the money.
In fact, the company's information as well as customer complaints have long revealed some clues. Let's take a look.
About AximTrade
Back in July 2022, FxGecko exposed the fact that AximTrade acts as an unregulated and high-risk platform. This means that if investors trade with the platform, their funds and personal information are exposed to security risks.
A search query using the FxGecko app reveals the following information:
1. AximTrade has a rating of only 3.2, which makes it a low-rated and high-risk platform;
2. AximTrade's website claims that its entity companies are regulated by ASIC (Australia), NFA (USA) and SVGFSA respectively.
However, FxGecko's verification results show that the Australian ASIC license and the US NFA license that AximTrade claims to hold are not in the scope of regulation and belong to the over-limit operation;
SVGFSA, on the other hand, does not issue any license to engage in forex trading or brokerage business.
That is to say, AximTrade actually does not have any valid regulatory information, if AximTrade wants to run away, it can run at any time.
3. AximTrade currently has 14 customer complaints, mainly related to the customer account was maliciously forced to close the position, profit was deducted, unable to withdraw funds and other issues. Two of the complaints have been replied to and four have been resolved.
The platform was more active in dealing with customer complaints until 2021, but since 2022, most of the complaints have not been effectively resolved.
To summarize, AximTrade is not a reliable investment option, regardless of whether or not it is running away. We advise investors to stay away from such unregulated and high-risk platforms with false advertising in order to avoid financial losses!
If you have already invested in this platform, please withdraw your funds as soon as possible. If you are unable to withdraw, we suggest you immediately compile evidence and file a complaint with the relevant regulators and law enforcement authorities.
Investment involves risks. If you are not sure whether the platform you have chosen is legitimate and safe, you can use the FxGecko app to search and verify to avoid false platforms and unregulated high-risk platforms.
You can check the regulatory licenses, security scores, customer complaints and other information about global trading platforms at FxGecko APP to avoid any potential scams.
Click here to recognize common investment trading scams to avoid being scammed.
Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.
