Axes Forex Broker

BASIC INFORMATION: Axes is a forex and CFD broker offering online trading through the MT5 platform. Founded in 2018, Axes LLC is based in London. Axes claims that it offers over 250 financial instruments across six asset classes, attracting both beginners and experienced traders. REGULATORY INFROMATION: LICENSE No valid regulatory information Please be aware of the risk! MARKETS Axes offers over 250 CFDs across several main markets: · Forex – Trade over 70 major, minor, and exotic currency pairs such as EUR/USD, USD/GBP, and USD/JPY · Shares – Over 150 global company shares are available, including Apple, Facebook, and Visa · Indices – Trade on global spot indices including the FTSE 100 and S&P 500 · Futures – Speculate on commodity-backed and indices-backed futures · Energies – Trade CFDs on energies such as natural gas and oil · Precious metals – Invest in gold, silver, and platinum · Cryptocurrencies – Trade on Bitcoin & Litecoin SPREADS & COMMISSION Spreads on forex pairs start at 0.8 pips for the EUR/USD, 1.5 pips for the EUR/GBP, and 1.6 pips for the GBP/USD. Spreads are around 1 point for the FTSE 100 and 0.04 for Brent oil. For precious metals, spreads on gold are around 0.39. Overall, the broker is around average in terms of trading fees. Clients should also be aware of swap charges for overnight positions and a monthly inactivity fee if accounts are unused. LEVERAGE Leverage at Axes varies depending on the asset: · Shares – up to 1:25 · Forex – up to 1:500 · Metals – up to 1:200 · Indices – up to 1:500 · Energies – Up to 1:100 These are high leverage rates and allow clients to take sizeable positions with small capital outlay. This does, of course, also increase the size of potential losses ACCOUNT TYPES There are three accounts to choose from: Live, Professional, and VIP. Benefits, as you move up the account tiers, include up to 30% off spreads with the VIP account, unlimited VPS use, and dedicated account managers. The standard Live account will suit most retail traders while experienced, high volume traders may prefer the VIP option. PAYMENT METHODS Deposits Axes offers several fast deposits options, all of which are free to use: · Credit/debit card · Bank transfer · UnionPay · Neteller · PayPal · Skrill · Traders should check with their payment provider or bank for any intermediary fees. The minimum deposit with Axes is $100. Withdrawals Traders can withdraw funds using the same fee-free methods listed above. Bear in mind that some banks or payment processors may charge their own fees. Axes aims to process all withdrawals in one working day. TRADING PLATFORMS · MetaTrader WebTrader · MetaTrader 5 CUSTOMER SUPPORT Axes claims to offer support in multiple languages and from various locations. However, upon testing, we were disappointed. The live chat feature doesnt work and the FAQ portal contains broken or outdated links. If you do need to contact the support team, wed recommend: · Email – info@axes.co · Telephone – +44 (0) 20 8016 2377 (UK) or +1 415 212 7833 (Saint Vincent) Axes head office address is 34 New House, City of London, EC1N 8JY, United Kingdom