Axiance 2025 Review: Everything You Need to Know
Summary: Axiance, formerly known as EverFX, presents a mixed picture as a forex and CFD broker. While it offers a variety of trading instruments and platforms, concerns about its regulatory status and user experiences raise significant red flags. Notably, the broker claims to be regulated by multiple authorities, but discrepancies in user experiences suggest a need for caution.
Note: It is essential to consider the different entities operating under the Axiance brand, as this can significantly impact the trading experience and regulatory protections available to clients.
Ratings Overview
How We Rate Brokers: Our ratings are based on comprehensive research, including user feedback, expert opinions, and factual data.
Broker Overview
Founded in 2016, Axiance operates under the auspices of ICC Inter Certus Capital Ltd, with its headquarters in Cyprus. The broker primarily offers trading through popular platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), allowing access to a diverse array of assets including forex, cryptocurrencies, commodities, and indices. Regulatory oversight is claimed from authorities such as the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).
Detailed Section
Regulatory Landscape
Axiance operates across different jurisdictions, claiming regulation from CySEC and FSA, among others. However, the reputation of these regulators varies, with CySEC being more reputable compared to the FSA, which is often considered a low-tier regulator. Many users have expressed concerns regarding the effectiveness of regulatory oversight, especially given the broker's previous branding as EverFX, which faced scrutiny from the FCA in the UK. This history raises questions about the broker's current legitimacy and reliability.
Deposit/Withdrawal Options
Axiance supports various payment methods for deposits and withdrawals, including credit/debit cards, bank transfers, and e-wallets like Skrill and Neteller. The minimum deposit requirement is set at $100, which is relatively accessible for new traders. However, some users have reported complications with withdrawals, including delays and difficulties in accessing their funds, which could undermine the broker's credibility.
Axiance offers promotional bonuses of up to 100% on deposits, which is a tactic often used by brokers to attract new clients. However, such bonuses typically come with stringent withdrawal conditions that may not be favorable for traders. Many experts recommend caution when engaging with brokers that offer high bonuses, as they can often lead to complications and dissatisfaction among users.
Asset Classes Available
Traders have access to a broad range of instruments, including over 50 forex pairs, numerous commodities, stock indices, and 17 cryptocurrencies. This variety can be appealing to traders looking to diversify their portfolios. However, the actual availability of these assets may vary depending on the regulatory entity under which the trader falls, which can lead to inconsistencies in trading options.
Costs (Spreads, Fees, Commissions)
Axiance offers competitive spreads starting from 1.2 pips on standard accounts, with lower spreads available on premium and VIP accounts. However, users have reported hidden fees and complications regarding commissions, particularly on certain account types. This lack of transparency can lead to frustration and distrust among traders.
Leverage
The broker offers leverage up to 1:500, which is significantly higher than many regulated brokers can provide. While high leverage can amplify profits, it also increases the risk of substantial losses, particularly for inexperienced traders. It is crucial for traders to understand the implications of trading with high leverage and to employ risk management strategies accordingly.
Axiance provides access to both MT4 and MT5 platforms, which are well-regarded in the trading community for their advanced features and user-friendly interfaces. The availability of these platforms is a positive aspect of the broker, as they support a variety of trading strategies and tools.
Restricted Regions
Axiance does not accept clients from certain jurisdictions, including the USA, UK, and Canada, which may limit its appeal to a broader audience. This restriction is often a result of regulatory compliance and the broker's history with authorities like the FCA.
Customer Support Languages
Customer support is available primarily in English, with limited availability in other languages. Users have reported mixed experiences with customer service, citing difficulties in obtaining timely assistance and resolution of issues.
Reiterated Ratings Overview
Detailed Breakdown
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Account Conditions: Axiance offers three account types—standard, premium, and VIP. The minimum deposit varies, with the standard account starting at $100, while premium and VIP accounts require higher deposits. However, users have expressed concerns about the conditions tied to bonuses and withdrawals.
Tools and Resources: The availability of MT4 and MT5 platforms enhances the trading experience, alongside access to Trading Central for market analysis. However, the educational resources provided may not be sufficient for novice traders.
Customer Service and Support: Customer support has received criticism for being unresponsive and unhelpful, particularly during withdrawal requests. This aspect significantly impacts user satisfaction and trust.
Trading Experience: While the broker provides a variety of trading instruments and competitive spreads, user experiences indicate potential issues with execution and withdrawal processes.
Trustworthiness: The broker's past as EverFX and the mixed reviews regarding its current operations raise concerns about its overall trustworthiness.
User Experience: Overall user experiences vary, with some praising the platform's functionality while others report significant issues with withdrawals and customer support.
In conclusion, while Axiance offers a range of trading options and platforms, potential users should approach with caution due to its mixed reputation and regulatory concerns. The experiences of existing users highlight the importance of thorough research before engaging with this broker.
