General Information AXEL Review Summary in 10 PointsFounded2019Registered Country/RegionSaint Vincent and the GrenadinesRegulationASICMarket InstrumentsCurrency, stock, commodities, indices, indices, cryptocurrency and CFDDemo AccountN/ALeverage1:500EUR/USD Spreadfrom 2 pipsTrading PlatformsMT4Minimum depositN/ACustomer Support24/7 phone, email, online messaging What is AXEL? Registered in Canada, AXEL Private Market Limited (short for “AXEL”) is an brokerage firm offering its clients popular MT4 trading platform with API FIX, a wide selection of more than 400 trading options including currency pairs, commodities, stocks, indices, and cryptocurrencies. The broker is regulated by the Australian Securities & Investments Commission (ASIC) and provides competitive spreads, no commissions and flexible leverage up to 1:500. Pros & ConsProsCons• Regulated by ASIC• Concerns of fraud• Segregated accounts at regulated banks• Clients from the United States, Belgium, and North Korea are not accepted• Wide range of trading instruments• No information on minimum deposit• MT4 trading platform available• Wide spreads• Various trading tools• No information on deposits and withdrawals• 24/7 multi-channel customer support Is AXEL Safe or Scam? AXEL is regulated by the Australian Securities & Investments Commission (ASIC) under license number 000441277. AXEL holds a Straight Through Processing (STP) license, which means it operates without dealing desk intervention, routing orders directly to liquidity providers for execution. Market Instruments AXEL allow its clients access to a massive financial market. Different asset types, including currency, stock, commodities, indices, indices, cryptocurrency and CFD, all available through the brokerage platform. This selection provides traders with the opportunity to diversify their portfolio and take advantage of different market opportunities. The availability of these instruments allows clients to explore a range of trading strategies and take positions in various global markets. Accounts Trading accounts from AXEL are available for both retail and professional traders. However, AXEL is tight-lipped on the amount of money needed to open an account and begin trading. Per account features listed below, each account is designed for different types of traders. For instance, Regular and DELUXE accounts are more suitable for retail traders, while VIP accounts are idea for professional traders who consistently pursue lower trading costs. Margin Call: 80%, Stop Out: 50%. Leverage AXEL offers high leverage of up to 1:500 for forex trading, which means that traders can control a larger position with a relatively small amount of capital. However, high leverage can also increase the potential for losses, especially if traders do not have adequate risk management strategies in place. For indices and commodities, AXEL offers a maximum leverage of 1:100. Traders should always be cautious when using leverage, and ensure that they have a good understanding of the risks involved before trading. Spreads & Commissions AXEL renders its clients a zero-commission trading environment, with spreads determined by what kind of trading accounts. With DELUXE accounts, you are offered spreads from 3 pips, and spreads on Regular accounts are lower, from 2.5 pips. VIP account holders can enjoy the most competitive spreads among these three accounts, 2.0 pips onwards. It's worth noting that the information available is limited, and it's possible that there may be other fees or charges that are not disclosed. Traders are advised to thoroughly review AXEL's terms and conditions to fully understand their trading costs. Below is a comparison table about spreads and commissions charged by different brokers:BrokerEUR/USD SpreadCommissionsAXEL2 pipsZeroFX Broadnet0.6 pips$3 per lotTasman FX0.6 pipsZeroTeraFX0.2 pipsZero Note that the information provided is subject to change and may not be up-to-date. It is important to check with the broker directly for the most current information. Trading Platforms In terms of trading platforms available, AXEL offers its clients access to the worlds most popular MT4 trading platform for Windows, Mac, iOS, Android, and WebTrader. The MT4 platform is well-known for its user-friendly interface, advanced charting capabilities, and customizable features. With the MT4 platform, traders can access a wide range of trading tools and indicators, perform technical analysis, and execute trades quickly and easily. The platform is also equipped with features such as automated trading, expert advisors (EAs), and one-click trading, making it suitable for traders of all skill levels. Overall, AXEL's offering of the MT4 platform provides a reliable and efficient trading experience for its clients. See the trading platform comparison table below:BrokerTrading PlatformsAXELMT4, WebTraderFX BroadnetMT4, MT5, WebTraderTasman FXMT4, MT5, WebTraderTeraFXMT4, MT5, WebTrader Trading Tools AXEL offers a variety of trading tools to assist traders in making informed decisions. The Market Overview and Data provide up-to-date information on indices, commodities, and forex markets. The economic calendar helps traders stay informed about important events that may impact the markets. The Forex Heat Map displays real-time changes in currency pairs and provides insights into potential trading opportunities. The Forex Rates feature enables traders to monitor exchange rates and quickly spot favorable market conditions. Finally, the Stock Screener tool helps traders find stocks that meet their specific trading criteria. Overall, AXEL's trading tools are useful for traders who want to stay up-to-date and informed about the markets. Deposits & Withdrawals It is concerning that there is no information available about deposit and withdrawal methods for AXEL. Without such information, potential clients are left in the dark as to how they can fund their account and withdraw their funds. Additionally, without transparency in this area, it is difficult to evaluate the safety and security of deposit and withdrawal processes with AXEL. It is important for any reputable broker to provide clear and detailed information about how clients can deposit and withdraw funds to ensure a positive trading experience. AXEL minimum deposit vs other brokers AXELMost otherMinimum DepositN/A$100 Customer Service Based on the information available on the AXEL website, the broker seems to offer a comprehensive customer support service. Clients can reach out to the support team 24/7 through phone, email, or online messaging for any queries or issues they may have. The broker also provides its physical address, which is a good sign of transparency. Additionally, the FAQ section on the website may help clients find answers to common questions. Note that the above tables are based on the information available and may not be exhaustive. Frequently Asked Questions (FAQs) Q 1:Is AXEL regulated?A 1:Yes. It is regulated by Australia Securities & Investment CommissionQ 2:At AXEL, are there any regional restrictions for traders?A 2:Yes. The information on their site is not directed at residents of the United States, Belgium, North Korea or any particular country outside St. Vincent and the Grenadines and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.Q 3:Does AXEL offer the industry leading MT4 & MT5?A 3:Yes. It supports MT4.Q 4:Is AXEL a good broker for beginners?A 4:No. Though it is regulated well, it lacks transparency and it even doesnt reveal the minimum deposit requirement on the website.