Axe Invest Review – 5 things you should know about Axeinvest.com

Axe Invest Review – 5 things you should know about Axeinvest.com

Beware! Axe Invest is an offshore broker! Your investment may be at risk.

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Axe Invest is a forex brokerage which does not disclose much information about itself. Traders are provided with a hybrid trading platform and a wide range of trading products. From the website we gather that potential clients are also extended an extremely generous leverage of up to 1:500 and required to put up a deposit as low as $100 in order to do real-money trading.

Axe Invest regulation & safety of funds

According to the website of the brokerage the country behind it – Madar Partners LTD – is registered in the Marshall Islands. This is an offshore location which does not regulate forex trading, but does have very liberal laws regarding the registering of new firms. Precisely because of this it is a favorite location for many scammers since they needn’t even physically be there in order to register the company.

Furthermore, we could not see on the website any option for a test-drive of the trading platform which is another worrisome sign, especially if the brokerage is from the Marshall Islands and is not overseen by any authority. We do not even gather what the spreads are. Another troubling thing on the website is the address given in Russian which does not add up with the information presented on the website. The lack of crucial information, coupled with the clear lack of regulatory oversight are all warning signs for traders and reviewers alike.  Such irregularities make us suspect that clients will be open to a number of risks.

We urge traders to exclude such risk in trading by only associating with brokers regulated by prestigious regulatory agencies, such as the FCA and CySec, which require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.

Axe Invest deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via VISA and MasterCard, bank/wire transfer, Upay card and ePayments. Popular e-wallets such as Skrill or Neteller are missing.  Going through the brokers terms we did come across worrisome provisions such as excessive withdrawal fees. There is a fee of $50 for withdrawals via bank wire transfers, $35 for withdrawals with credit cards, and a $25 procession fee for withdrawals via ePayments.  Judging by all the signs – Axe Invest is most likely a scam and scammers usually enjoy charging clients unexpected fees only after they have received their initial deposits.

This is why we remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

One of the reasons regulation has such value in the trading world is because scamming is quite common and it acts as a sort of guarantee that such a thing would not happen. Nevertheless, here is how a typical scam would go about:

Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Crypto Revolt where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And with the case of Axe invest – they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half. Visa is expected to do the same in December.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
Axe Invest
Broker Rating
11stargraygraygraygray

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6 Comments

  1. They do more than that…perhaps hacked sites..fake articles…shady links… https://www.facebook.com/permalink.php?story_fbid=3195262250701306&id=100006526877531

  2. Jag har investera hos AXEINVEST 21500 euro lånat pengar på banken (AXEINVEST ordnade lån), nua kan jag inte komma åt mitt konto support svara inte .Jag vill ha mina pengar tillbaka
    ——————————
    I have invested with AXEINVEST 21500 euro borrowed money on the bank (AXEINVEST arranged loans), now i can’t access my account support don’t answer .I want my money back

  3. Axe invest are scammers dont use they say they are from usa but a bunch of beggers indian they use numbers that you cannot call back on.

  4. juan jose marti rodriguez

    todos los que hemos sido estafados deberiamos unirnos para unificar una denincia contra estos estafadores porque uno solo no puede ya que las costas no las podemos asumir y ellos lo saben yo lo he intentado mediante abogados y si fuemos muchos lo conseguiriamos pero uno solo es imposible recuperar nuestro dinero
    —————————-
    All of us who have been scammed should join together to unify a complaint against these scammers because one cannot. The costs cannot be assumed and they know it. I have tried it through lawyers and if we were many we would succeed but only one is impossible our money

  5. DO NOT send any money to or deal with this company. I opened an account in November 2019 with USD$2500 then deposited another USD$5000 in December. I have made a profit of USD$4300 to date however upon attempting to make a withdrawal on 04.03.20, a representative from Axe advised that because I am in a contract with them, I have to continue trading!! I was not at any time made aware of any contract nor did I agree to enter in to one. I have had 2 account managers since November. The initial person has since “moved on” to open another office “apparently” and the second person is now uncontactable. Everything appeared to be going well through to end of December 19 until my first account manager went off elsewhere. His replacement tried to persuade me to send another USD$2500 for Brexit trading, which I refused to do as there was more than enough money in my account and I didn’t have any spare. In February 2020 the axeinvest.com website went down and as a result I could not to log in to my account for up to a week. I had to make a phone call to the London Office to ask what the problem was. I was told the website address had changed to axeinvest.org! No communication whatsoever was made in relation to this. Now, as previously stated, I am having difficulty making the withdrawal which one of the brokers has to agree to before they release funds, and he’s not! I have sent numerous emails which go unanswered and the main company phone number often times out when ringing. Someone did eventually answer on my last 2 calls but only after several attempts to do so. The Switzerland office phone number (if they actually have an office there), times out after 2 rings! Highly unprofessional all round and I fear my money is lost but will take action to recover as best I can through other means. So, in summary just don’t deal with these people as they appear to be fraudulent, are unregulated and have their registered office in the Marshall Islands no doubt to avoid tax but I guess they wouldn’t be the only ones! They are also know as Joshua Investments.

  6. James Waititi

    Here’s an update to my previous review on March 13, 2020. After several attempts to call Axe Invest’s main phone number with no success over the last couple of months, and after giving it a rest for a while during COVID, I decided to give it another try tonight, 13.05.20. Lo and behold a female answered the phone. After giving my name (which I had to repeat and spell several times as she kept saying she couldn’t hear me very well), and providing my trading account number, she advised that she could not find me in the system!! She also asked if I had called the right company, stating that she was from “???” – the name she gave was totally unintelligible! The number I’d called by the way is the one advertised on their main website +44208089306, which I’ve spoken to them on previous occasions. Anyway, she asked me to hold while she made some checks but of course never came back. I’ve phoned again 18 times now and the number either goes unanswered or drops out on first attempt both of which are common scenarios. I’ll keep ringing and emailing just to annoy them. So again, PLEASE DO NOT DEAL WITH THESE PEOPLE. They are a bunch of fakes, con artists and crooks, as is their website and trading platform which I’m told isn’t even real – everything is just smoke and mirrors. They lull you in to a false sense of security, con you in to believing you’re making money, then after a month or 2 become so hard to contact that you eventually give up trying leaving you bewildered as to what to do, and then … they disappear! I’ve spoken to a company that specialises in retrieving funds but they charge an $800USD fee. Their success rate seems good according to reviews but I’m reluctant to throw good money after bad and even more reluctant to deal with companies on the other side of the world (I’m in Australia), after having been exposed to and experienced this type of fraud – not that I’m saying the recovery company operates that way as I’ve never used them, I mean dealing with any company on the other side of the world as far as trading is concerned. Once bitten, twice shy right?

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