Axen FX-Overview of Minimum Deposit, Leverage, Spreads

GENERAL INFORMATION

It doesn't really tell much that Saint Vincent and the Grenadines is where Axen FX is incorporated. In actuality, the only thing we can conclude from this remark is that Axen FX is a fraud. Where did we learn this？ Axen FX is not regulated in Saint Vincent and the Grenadines because the country does not have a license issuer for FX and CFD brokers.

The fact that the legal documents are brief and omit numerous important terms is also a very strong indicator that the broker is not legitimate. When compared to the 100 pages of T/Cs that some of the top FX brokers in the world have, this company's T/Cs are laughably short.

Last but not least, Axen FX does not even appear to be a licensed broker. It avoids all acceptable characteristics and solely uses dubious ones. If there ever was an unregulated broker, this is it. Every investment carries some risk!

BUSINESS SCALE

Five trading assets are available on the Axen FX platform. These include equities, indexes, metals, forex, commodities, and Forex. Cocoa, coffee, cotton, and sugar are among the commodities offered on the platform.

The platform offers more than 40 currency pairs, which include both major and small currencies. Additionally, you have access to forward deals for more than 20 currency pairings. The portal also promises in-depth examination and investigation of Forex platforms.

With a platform that promises unrivaled liquidity, you can trade indices around-the-clock. The main metals for commerce are gold, platinum, and silver. Members also get access to trading FAANG shares and equities from other foreign corporations.

AXEN FX TRADING SOFTWARE

Axen FX is one of those shady brokerages that was able to acquire the MT5 through some kind of miracle.

By far, this is the best trading office in the sector. It enables for a completely personalized trading experience and provides hundreds of possibilities!

We still are unable to recommend the broker even with the addition of the MT5. First and foremost, it is not authorized!

ACCOUNTS AND PACKAGES AXEN FX

Axen FX offers four different account options.

There are four different accounts available: Plus, Mini, Prime, and VIP. The low permissible minimum deposit for the regular account is one drawback of this platform. As a result, you may start trading with just $10.

The majority of account characteristics, such maximum leverage, are the same. Let's take a closer look at what this platform offers. In this section, we'll examine each account and its benefits.

• PLUS

  The most fundamental account, it includes floating spreads. The spreads begin at 0.01, which is thought to be fair. With a $10 minimum investment, you receive quick execution. Members may have 150 open orders at once. The spread is of a variable kind.

• MINI

Spreads for the Mini account begin at 3 pip. There is a $100 minimum deposit requirement for fixed spreads. There is a single-tap order execution option, and 150 open orders can be active at once. The account is the same as the Plus tier, with the exception of the spreads and deposits.

• PRIME

To start trading with this account package, you must first deposit $100. Spreads likewise begin at 3 pip, and they are of the Fixed variety. With a maximum of 300 open orders concurrently, there is a single-tap order execution option.

• VIP

It is the platform's most exclusive account type. You need to deposit $10,000 before using the account. This account uses varying spreads starting at 0.10 lots. Sadly, while being the most alluring account, the deposit amount is expensive.

All the above accounts come with a bonus of 30 percent with each deposit.

CUSTOMER SUPPORT

Despite having a US phone number, the platform is registered in St. Vincent & the Grenadines. The platform, in our opinion, makes use of virtual phone service providers. Members get calls from this number, giving them the impression that the platform is situated in the US.

They won't take calls on that line, so you can't make the call. Your only choice is to email them, but it can take a long time to hear back. As far as we can tell, the platform strives to regulate the channels of communication.