Axiance is a forex and CFD broker that claims to offer a variety of trading products and services. However, there are a number of red flags that suggest that Axiance may be a scam.
In this review, we will take a closer look at Axiance’s business practices and regulatory status. We will also share some client feedback and explain how you can protect yourself from scams.
Company Overview
Axiance is a relatively new broker, founded in 2016. The company is registered in Cyprus, but it also has entities in Seychelles and Mauritius. Axiance is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Authority (FSA) of Seychelles, and the Financial Services Commission (FSC) of Mauritius.
However, it is important to note that these are all offshore regulators. Offshore regulators have a reputation for being less strict than their onshore counterparts. This means that there is less protection for investors who trade with brokers that are regulated by offshore regulators.
Team
The management team of Axiance is not publicly available. This is another red flag, as legitimate brokers typically have transparent ownership and management structures.
Services or Products
Axiance offers a variety of trading products and services, including forex, CFDs, and cryptocurrencies. The company also offers a demo account, which allows traders to test the platform before they start trading with real money.
However, it is important to note that Axiance does not offer any educational resources or market research tools. This is a major drawback, as these resources are essential for traders who want to be successful.
License and Regulations
As mentioned earlier, Axiance is regulated by the CySEC, the FSA, and the FSC. However, these are all offshore regulators, which means that there is less protection for investors who trade with brokers that are regulated by them.
In addition, Axiance has been the subject of a number of legal warnings. In 2020, the Financial Conduct Authority (FCA) of the United Kingdom warned investors about Axiance, stating that the company was not authorized to operate in the UK.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to the same regulations as licensed brokers. This means that they are less likely to be transparent about their trading practices and more likely to engage in fraudulent activities.
Second, unlicensed brokers are not required to keep client funds in segregated accounts. This means that there is a risk that your funds could be lost if the broker becomes insolvent.
Third, unlicensed brokers are not subject to compensation schemes. This means that if you lose money to an unlicensed broker, you will not be able to get your money back.
Legal Warning Against Axiance
The FCA has issued a legal warning against Axiance, stating that the company is not authorized to operate in the UK. The FCA also warned investors that Axiance is likely to be a scam.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of complaints about Axiance online. Some investors have alleged that the company has refused to allow withdrawals, while others have said that they have lost money trading with Axiance.
Feedback About Their Trading
Investors who have traded with Axiance have reported mixed results. Some investors have said that they have made profits, while others have said that they have lost money.
Feedback About Their Customer Service
Customer service at Axiance is reportedly poor. Investors have complained that they have had difficulty contacting the company and that when they have been able to contact the company, the representatives have been unhelpful.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Axiance or another broker, there are a number of things you can do. First, you should report the scam to the authorities. You can do this by filing a complaint with the FCA or your local financial regulator.
Second, you should try to get your money back. There are a number of companies that specialize in helping victims of investment scams get their money back.
Finally, you should contact us to get a free consultation and service recommendations to get help in recovering the lost funds.
Final Thought
Axiance is a risky investment. The company is unregulated, has a poor reputation, and has been the subject of legal warnings. If you are considering trading with Axiance, we strongly advise you to reconsider.
