cryptocurrency.ax foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://cryptocurrency.ax/tradersroom/signup, about the company's legal and temporary regulatory information, the company's address Riia 142, 50415 Tartu, Estonia.
cryptocurrency.ax Forex Broker
Basic Information
Estonia
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
cryptocurrency.ax broker review
Rating Index
Platinum
Silver
Cryptocurrency.ax Forex Broker - Complete Information Guide
1. Broker Overview
Cryptocurrency.ax is a forex broker that was established in 2022. The firm is headquartered in Estonia, with additional offices claimed to be located in Manchester, UK, and London, UK. The company operates as a private entity, providing trading services primarily to retail clients interested in various financial instruments.
Since its inception, Cryptocurrency.ax has positioned itself as a diversified trading platform, offering access to a range of assets including forex, stocks, indices, commodities, and cryptocurrencies. The broker aims to cater to both novice and experienced traders by providing multiple account types and flexible trading options. However, it is important to note that Cryptocurrency.ax has been flagged as unregulated, raising concerns about its operational legitimacy and the safety of client funds.
The business model of Cryptocurrency.ax focuses on retail forex trading, allowing clients to engage in various trading activities across different asset classes. The firm claims to offer educational resources and support to help traders enhance their skills and knowledge in the financial markets.
2. Regulatory and Compliance Information
Cryptocurrency.ax operates without any valid regulation, which is a significant concern for potential investors. The broker has not disclosed any information regarding its regulatory licenses or oversight from recognized financial authorities. As a result, the regulatory index for Cryptocurrency.ax stands at 0.00, indicating a lack of compliance with established financial regulations.
The absence of regulatory oversight means that clients' funds are not protected under any investor compensation schemes, and there are limited options for dispute resolution. Furthermore, Cryptocurrency.ax does not appear to implement robust Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, which are critical for safeguarding client interests.
Given these factors, prospective traders should exercise extreme caution when considering Cryptocurrency.ax as their trading platform, as the lack of regulatory compliance poses inherent risks to their investments.
3. Trading Products and Services
Cryptocurrency.ax offers a diverse range of trading products, catering to various trading preferences. The broker provides access to:
- Forex: The platform supports a wide variety of currency pairs, including major, minor, and exotic pairs.
- CFD Products: Clients can trade Contracts for Difference (CFDs) on various assets, including indices, commodities, and stocks.
- Cryptocurrencies: Cryptocurrency.ax allows trading in popular cryptocurrencies, though specific details on the available coins are not extensively outlined.
The broker claims to update its product offerings regularly; however, the frequency and specifics of these updates are not disclosed. Additionally, Cryptocurrency.ax provides retail trading services, but there is no mention of institutional client services or white-label solutions.
4. Trading Platforms and Technology
Cryptocurrency.ax utilizes a proprietary trading platform that is designed to provide a user-friendly trading experience. While the platform's features are comparable to well-known systems like MetaTrader 4 and MetaTrader 5, specific details about its functionalities are limited.
The broker does not appear to offer a mobile application for trading on iOS or Android devices, which may limit accessibility for traders on the go. The execution model remains unspecified, leaving potential clients uncertain about the nature of trade execution (e.g., ECN, STP, or Market Making).
Moreover, Cryptocurrency.ax has not provided any information regarding the server locations or the technological infrastructure that supports its trading operations. There is also no indication of API access or support for automated trading strategies.
5. Account Types and Trading Conditions
Cryptocurrency.ax offers several account types, each tailored to different levels of traders:
- Basic Account: Requires a minimum deposit of €250, with low spreads and no commissions.
- Gold Account: Requires a minimum deposit of €5,000, offering competitive spreads and low commissions.
- Exclusive Account: Requires a minimum deposit of €50,000, with personalized services and premium features.
The broker has not specified the leverage ratios available for each account type, which is a critical factor for traders. Additionally, the minimum trade size and overnight fees are not detailed, leaving potential clients with limited information to make informed decisions.
6. Fund Management
Cryptocurrency.ax supports various deposit methods, including:
- Bank Transfers
- Credit/Debit Cards
- Cryptocurrencies
The minimum deposit requirement varies by account type, with the basic account starting at €250. While the broker claims to process deposits promptly, specific processing times are not disclosed.
Withdrawal methods are also available, but details regarding withdrawal limits, processing times, and associated fees are not provided. This lack of transparency may raise concerns for traders considering fund management with Cryptocurrency.ax.
7. Customer Support and Educational Resources
Cryptocurrency.ax offers customer support through multiple channels, including:
- Email Support: Available for clients in Estonia and the UK.
- Phone Support: Contact numbers are provided for both the Estonian and UK offices.
The broker operates in several languages, though the specific languages supported are not listed. Educational resources include webinars, training courses, and video lessons, which aim to enhance traders' knowledge and skills.
Market analysis services, such as daily analysis and research reports, are not explicitly mentioned, which may limit the support available for traders seeking market insights. The availability of trading tools like calculators and calendars is also unspecified.
8. Regional Coverage and Restrictions
Cryptocurrency.ax primarily serves clients in Estonia and claims to have operations in the UK. However, the broker does not provide a comprehensive list of regions where it operates or any specific countries from which it does not accept clients.
Given its unregulated status, it is likely that Cryptocurrency.ax may face restrictions in various jurisdictions, particularly in countries with strict financial regulations. Traders should verify the legal status of trading with Cryptocurrency.ax in their respective regions before proceeding.
In conclusion, while Cryptocurrency.ax presents a variety of trading options and account types, its unregulated status raises significant concerns regarding the safety and security of client funds. Prospective traders are strongly advised to conduct thorough research and consider the associated risks before engaging with the Cryptocurrency.ax broker.