Beware! AbileXAG is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
We liked nothing about AbileXAG. It’s website is poor, and its details are misleading. Read the review for more.
Clients will be left with the impression that AbileXAG is a fully regulated broker, with multiple global branches spanning all sort of preferences. In the footer, we are told of three such companies, each based on an offshore location. Let us quickly debunk them all one by one.
The first firm, AbileXAGMKT Limited is allegedly regulated by the Vanuatu Financial Services Commission (VFSC), but one quick check on the website of the regulator proved to us that there is no such regulation nor such company.
Next we have AbileXAG M Group LLC a firm apparently incorporated in Saint Vincent and the Grenadines, an offshore broker jurisdiction without a FX regulator and more relaxed laws altogether that make the whole experience of registering a company a breeze when compared to other nations, thus making Saint Vincent and the Grenadines the perfect scammer broker location.
Finally, we have AbileXAG Markets Ltd a firm based in Saint Lucia, allegedly regulated by the Services of Saint Lucia Act, but this seems more like a local legislation than a globally accepted regulator. Moreover, Saint Lucia has been associated with big fraudster in the recent times.
AbileXAG is a scam and a risk to all. It is also fully unlicensed.
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
AbileXAG Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|cTrader||40+ indicators||✅||✅||Android and iOS|
There were a bunch of issues when we tried to open an account. For one, the sign up process, when we gave our credential, produced some sort of error, but we still opened an account, at least technically. The we moved on to the confirmation mail which verified our account. But all that fell apart when we tried to login: our login details were not accepted.
So we had to rely on the site, meaning that we don’t know whether AbileXAG has a software or not. On the site we are advertized the MT4 on all fronts, and an AllPips Platform: all we know of AllPips as a mid range broker that is not that impressive and rather disappointing. What it’s doing here is a question that we cannot answer. As for the MT4, the download link lead to another error page, meaning that there is no MT4 in the end.
In essence, there is no way to know what the client area has in store: by the looks of it nothing, but even if there was a terminal, trading with AbileXAG would remain a big risk.
AbileXAG Trading instruments
According to the site, the available assets to trade with are forex currency pairs, stocks, cryptocurrencies, indices, and spot metals. Of course, we don’t know whether or not these are accurate.
AbileXAG Spreads and cost of trading
As per the website, the spreads are as follow: The typical EUR/USD spread is 1.6 pips, the one for GBPUSD is 1.7, and 1.8 for the USDJPY currency pair. There are many other spread values, so we focused on the “typical” category since the rest seemed more or less inaccurate.
Also, the broker mentions that is offers multiple account types, but we did not get such a thing while opening an account, so here’s another lie mean to mislead users.
AbileXAG Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The leverage is capped at 1:500 for all of the account types, of which there are a dozon or so, at least advertised, although as we said, we don’t think that they apply. The MT4 and AllPips accounts have a cap at 1:500.
Again with the AllPips. We have no idea why AbileXAG has included this broker’s brand here, but all we know is that it cannot possibly be connected to AllPips since, even though a limited and somewhat shady, it is still a part of a regulated family of companies.
AbileXAG Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Bank wire||1-5 business days||24 hours||System Fees|
|Credit card||1 hour||24 hours||1.99%|
|Debit card||1 hour||24 hours||1.99%|
|Skrill||1 hour||24 hours||1%|
|Neteller||1 hour||24 hours||❌|
|PerfectMoney||1 hour||24 hours||1.99%|
|StickPay||1 hour||24 hours||❌|
|Payeer||1 hour||24 hours||1.5%|
|PayRedeem||1 hour||24 hours||6%|
|Bitcoin||1 hour||24 hours||1.9%+ 0.00006|
|Ethereum||1 hour||24 hours||1%+ 0.006|
According to the website, the deposit and withdrawal methods are bank transfer, credit cards, debit cards, crypto wallets, PayRedeem, Payeer, Skrill, Neteller, PerfectMoney, and StickPay.
We know for a fact that scammers 95% of the times lies on their sites about the payment methods. So, these methods might not be accurate; most scammer rely mainly on crypto wallets.
AbileXAG Minimum deposit
The minimum deposit is not clear, as the values are all over the place. At one point the minimum deposit is indicated as being $100, then at other times it’s $500, then $300, and so on.
AbileXAG Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Here are the withdrawal fees discovered on the website: bank fees systems issued by the banks themselves, 1.99% for card withdrawals, 1.9%+ 0.00006 for Bitcoin, 1%+ 0.006 for ETH, PayRedeem charges 6%, Payeer’s is 1.5%, PerfectMoney commissions 1.99%, and Skrill 1%.
If there is no trading activity in an account the broker can launch an unrevealed “reimbursement” fee, which seems to be a 3% commissions charged after the broker detects that the user withdrawal without trading.
There is also a 6% fee for card users who “not make any trades withdrawal”. Yes, it’s word for word; AbileXAG charges users for not trading! This is definitely a rare clause, that can pretty much ruin your account.