Aximtrade Exposure: Growing Allegations of Withdrawal Denials by Traders

Is your Aximtrade withdrawal application pending for months despite everything right from your end? Even after months, do you still see the withdrawal application under review while logging in to the trading platform? Or does the broker official tell you that the withdrawal is approved, but give you the excuse of the payment providers unavailability? These issues have allegedly become the norm at Aximtrade, a Saint Vincent and the Grenadines-based forex broker. In this Aximtrade review article, we have highlighted numerous complaints that need your attention.

Investigating the Top Forex Trading Complaints Against Aximtrade

The Trader Made to Wait Despite an Approved Withdrawal Application

An Egypt-based trader revealed that while Aximtrade‘s officials constantly assured him of the approval of the withdrawal application, which was made two months before writing the review. However, each time, the trader allegedly heard about the broker’s search for a payment provider. Finding the overall scenario suspicious, the trader shared this negative Aximtrade review.

Another Approved Withdrawal Application Did Not Materialize

A trader, after failing to obtain funds in response to the withdrawal application made months ago, canceled the earlier transaction and did it again. However, the trader could not witness a change in the status, prompting him to share his concern with the support team numerous times. According to the trader, the Aximtrade application was approved based on the conversation with the support team. However, the payment gateway-related glitch, as quoted by the broker, contributed to the delay. The screenshot below aptly describes the chaos the trader witnessed due to the withdrawal delay.

Another Withdrawal Denial Due to Payment Gateway

Adding to the list of withdrawal denials due to the payment gateway is a complaint from a trader from Vietnam. Failing to receive funds even after more than 90 days of the Aximtrade withdrawal application, the trader inquired with the broker to find the alleged payment gateway narrative given to other clients for withdrawal delays. Check out this Aximtrade review for confirmation.

The Profit Withholding Allegation Against Aximtrade

A client from Egypt claimed that Aximtrade does not allow traders to withdraw after making profits. Sharing his own story, the trader accused the broker of withholding profits of $350 and denied sending the same to him. Frustrated by the overall trading experience, the trader disclosed the incident on a broker review platform. Check out the traders words below.

The Alleged VND Liquidity Shortage Excuse to Deny Fund Withdrawals

A startling revelation came from a Vietnam-based trader, who admitted to having created a forex trading account in 2022, failed to withdraw funds. The reason given for the failure was the shortage of VND liquidity. Despite negotiation with broker officials, including the ones in the top management, the trader failed to obtain funds. The trader claimed that the trading account was valid since it had information regarding deposits and not interest. While the trader rightly asked for deposit information, the broker allegedly did not share it with the former. Glance at this Aximtrade review that sums up the traders experience.

The Wrong Arbitrage Claim Given to Deny Fund Withdrawals, a Trader Alleged

A Malaysia-based trader admitted to having opened a trading account with Aximtrade with the hope of gaining profits during the news event. However, its risk management team accused the trader of using latency arbitrage during news events and scalping. This, according to the broker, was a breach of the terms and conditions. The broker allegedly canceled trading amounts worth a whopping $134,700 on the Aximtrade login. Responding to this, the trader denied having executed arbitrage or any other prohibited trading technique. However, despite numerous attempts by the trader to explain his point on this issue, Aximtrade remained unresponsive. Frustrated by this treatment, the trader made his displeasure known to all with this review.

Spread Discrepancies & Copytrading Exit Blocked

A Lebanon-based trader stated that while registering and depositing with Aximtrade was quick and easy, the trading conditions were allegedly misleading. Spreads advertised as low as 1.8 points on EUR/USD were reportedly closer to 18 pips even in calm market conditions. After using the brokers copytrading service, the trader attempted to disconnect upon reaching a 20% loss, but claimed the disconnect function failed to work, leaving the account exposed to further losses.

Despite contacting customer support multiple times, the issue allegedly remained unresolved for days. The broker reportedly cited incomplete ID verification as the reason for the restriction, though the trader claims repeated document uploads were rejected over an address mismatch he disputes. Overall, the complaint portrays Aximtrade as unresponsive and obstructive, with the trader feeling unable to control his own funds. Get an insight of this seemingly deceptive forex trading journey with this critical review of Aximtrade.

Aximtrade Review by WikiFX: Investigating the Broker‘s Regulatory Status

After checking multiple complaints against Aximtrade, the WikiFX team did a deep dive into the broker’s regulatory status. Following an intense investigation, the team found it to be an unregulated entity, which obviously raised immense investment risks for traders. Keeping this in mind, the WikiFX team gave Aximtrade a score of just 1.61 out of 10.