Axion Trade is a foreign exchange and contract for difference (CFD) broker founded in the United Kingdom in 2016, with its headquarters located in Saint Vincent and the Grenadines. It also has branches in the United States, Australia, and Cambodia. The primary services offered by this broker include CFD trading in forex, commodities, indices, stocks, and more. The broker's website is available in several languages, including English, Simplified Chinese, Indonesian, Hindi, Malay, among others. It's essential to note that Axion Trade does not provide services to residents of Japan, Hong Kong, Singapore, the UK, the US, and other jurisdictions subject to legal restrictions.
Company Background:
The UK-registered entity for Axion Trade is AXION TRADING LIMITED, with company number 10516617. According to information from the UK Companies House official website, this company was established in December 2016 and dissolved on November 17,2020.
The Saint Vincent and the Grenadines registered entity for Axion Trade is Axion Trade Limited, with the company number 25846. Information from the Financial Services Authority of Saint Vincent and the Grenadines (SVGFSA) indicates that this company was established in April 2020.
The Cambodia registered entity for Axion Trade is AXIONTRADE (CAMBODIA) CO., LTD, with company number 1000179787. According to information from the Cambodian Ministry of Commerce, this company was established in August 2022.
The Australia registered entity for Axion Trade is AXION TRADE PTY LTD, with company number 654 881 606. Information from the Australian Securities and Investment Commission (ASIC) online platform indicates that this company was established in New South Wales in October 2021.
Regulatory Information:
Axion Trade is regulated by the Securities Exchange Regulatory Commission (SERC) of Cambodia, which aligns with the information displayed on the SERC's official website.
Axion Trade claims on its website to be regulated by the US National Futures Association (NFA). However, according to information from the NFA's official website, this company is not an NFA-regulated member, and this appears to be fabricated regulatory information.
Axion Trade also claims to be regulated by the Australian Securities and Investment Commission (ASIC). According to information from ASIC's official website, this broker purchased an Authorized Representative (AR) license from HLK GROUP PTY LTD in November 2021, which was subsequently terminated in December 2022.
Furthermore, HLK GROUP PTY LTD sold AR licenses to more than 20 similar companies, including Axion Trade, with which they have no actual relationship. These companies are using AR licenses purchased from HLK GROUP PTY LTD for promotional purposes, raising suspicions of fraud.
Axion Trade Website:
The global website for this broker is https://axiontrade.net/, and the Chinese language version is available at https://axiontrade.net/zh_CN/. According to information obtained through a Whois query, the domain for Axion Trade's website was registered on May 5,2020, which is less than four years ago.
Trading Products:
Axion Trade offers a variety of financial instruments for users to trade, including:
Forex: Providing opportunities to trade various currency pairs in the forex market. Forex CFDs allow investors to trade based on price fluctuations between one currency and another. Examples of available currency pairs include EUR/USD, GBP/USD, and USD/JPY, among others.
Commodities: Commodity CFDs enable investors to potentially profit from price fluctuations in raw materials and resources. Commodities include items like crude oil, copper, and iron ore. Commodity CFDs allow investors to participate in various commodity markets without physically owning the commodities.
Indices: Index CFDs allow investors to trade based on the price performance of market indices without needing to buy or sell the actual stocks or assets comprising those indices.
Stocks: Traders can engage in CFD trading for stocks of different companies, including well-known companies like Apple, Microsoft, Amazon, and others. This allows investors to participate in the market without owning the actual stocks.
These products not only offer investors access to various financial markets but also allow them to manage risk through diverse investment portfolios.
Trading Platforms:
Axion Trade provides access to the popular MT4 trading platform in the forex market, known for its advanced trading features and various analytical tools. Through MT4, investors can access real-time market data and use a variety of technical indicators and charting tools to analyze market trends. The platform is compatible with multiple devices, including web and mobile devices.
Account Registration:
To register a real account, users can click on "OPEN ACCOUNT" at the top right of the Axion Trade website, select their language, account type, and provide the required information such as trading name, phone number, country, account currency, password, email, and more.
To register a demo account, users can click on "Try a Demo Account" on the website's homepage, provide the requested information such as trading name, phone number, email, password, and more.
Account Types:
Axion Trade offers seven different account types, including:
- ECN Standard Account: Starting from 0 pips in spreads, $4 commission per standard lot, maximum leverage of 1:500, minimum deposit amount not specified.
- ECN Pro Account: Starting from 0 pips in spreads, $2.5 commission per standard lot, maximum leverage of 1:100, minimum deposit of $25,000.
- Institutional Account: Starting from 0 pips in spreads, $0.5 commission per standard lot, maximum leverage of 1:100, minimum deposit of $1,000,000.
- Zero Commission Account: Floating spreads (starting from 1.2 pips for EUR/USD), no commission, maximum leverage of 1:500, minimum deposit of $100.
- Islamic Account: Floating spreads (starting from 1.8 pips for EUR/USD, 3.6 pips for gold), no commission, maximum leverage of 1:500, minimum deposit of $100.
- Mini Account: Floating spreads (starting from 1.2 pips for EUR/USD), no commission, maximum leverage of 1:500, minimum deposit of $10.
- Nano Account: Floating spreads (starting from 1.2 pips for EUR/USD), no commission, maximum leverage of 1:500, minimum deposit of $1.
Investors can choose different account types based on their individual trading needs.
Deposits and Withdrawals:
Axion Trade's official website does not provide key information about the supported deposit and withdrawal methods, currencies, fees, and other relevant details.
Introducing Broker (IB) Services:
Axion Trade supports introducing broker services, but the broker's official website does not provide an IB registration link.
Customer Service:
Investors can access Axion Trade's customer service through various channels, including online chat, email, and social media platforms like Facebook, Instagram, among others. In case of urgent inquiries, they can use the online chat feature to contact the broker.
Summary:
Axion Trade raises concerns related to potentially fraudulent activities. While the broker is regulated by the Securities Exchange Regulatory Commission (SERC) of Cambodia, it appears to have fabricated regulatory claims regarding the US NFA and Australian ASIC. Moreover, the Australian ASIC license held by Axion Trade was obtained by purchasing an Authorized Representative (AR) license from HLK GROUP PTY LTD, which had similarly provided AR licenses to over 20 unrelated companies. The Australian ASIC license for Axion Trade was terminated in December 2022. Currently, the broker is labeled as a "Scam Suspect" on the TraderKnows platform. Users should exercise caution when considering the services offered by this company and remain vigilant to protect their financial security and avoid potential fraudulent schemes.
