AX Financials Information
Established in 2020, AX Financials is an unregulated brokerage company registered in the United Kingdom. This firm provides more than 200 tradable instruments with its popular trading platforms (MT5). AX Financials gives one live trading account and a demo account.
However, there is limited information about trading fees on its website. Furthermore, limited asset classes are available compared to some other brokerages.
Pros and Cons
Is AX Financials Legit?
AX Financials operates without regulation from any recognized financial authority. Engaging with an unregulated broker like AX Financials carries substantial risks, and investors should be aware of the potential consequences before depositing funds.
What Can I Trade on AX Financials?
With AX Financials, you can invest in forex, cryptocurrencies, bullion, indices, commodities, and energies. This firm claims to offer more than 200 tradable instruments.
- Forex: major and exotic currency pairs, including EUR/USD, GBP/USD, USD/JPY, and many others
- Bullion: gold is one of the most precious liquid metals on earth
- Indices: S&P 500, FTSE 100, and the Nikkei 225
- Commodities: cocoa, coffee, copper, and soy bean
- Energies: gasoline, diesel, grease, motor oil
- Cryptocurrencies: Bitcoin, Ethereum, Ripple, etc
Compared to some other online brokerages, AX Financials doesn't offer as many ways to invest. For example, if you want to trade bonds, stocks, or ETFs, you won't be able to do that here.
Account Types
AX Financials offers one live trading account and a demo account. This streamlined approach may be a selling point for some traders who prefer simplicity. The minimum deposit of a live trading account is $250. The leverage is up to 1:400.
Leverage
AX Financials offers trading leverage of up to 1:400, which is relatively high compared to other brokers in the industry. This means that traders can control larger positions with smaller amounts of capital, potentially magnifying both profits and losses.
Trading Platform
MT5 (MetaTrader 5) is available with AX Financials. You can apply it on multiple devices, including Windows, MAC, Android, and IOS. It is a diversified financial trading platform that allows trading foreign exchange, stocks, and futures. It provides automated trading systems and excellent tools for various price analyses, the use of algorithmic trading applications, and copy trading.
Deposits and Withdrawals
AX Financials offers a limited selection of payment methods to its clients. Traders can choose from four different payment methods, including PayPal, Mastercard, WebMoney, and Visa.
Customer Support Options
For any questions you might have, help is available by email (info@axfinancials.com), phone (+ 44 1234 943200), or social media channel (Facebook, Instagram).
The Bottom Line
AX Financials could be an option if you're focused on forex and CFD trading. The popularity of its trading platform is another selling point for investors. However, the biggest drawbacks are insufficient information about trading fees and regulatory hurdles. As you compare online brokerages, keep cost and risk firmly in mind.
FAQs
Is AX Financials a regulated brokerage?
No, AX Financials is not regulated by any reputable financial authority.
What account types does AX Financials offer?
AX Financials offers one live trading account and a free demo account.
Does AX Financials offer leveraged trading?Yes, AX Financials provides a leverage option, which is up to 1:400.
