Forex

AXISCapital Review - Is it scam or safe?

AXISCapital Review - is axiscapitalcorp.com scam or good forex broker?
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Trading Accounts & Conditions

 

Account type   Minimum deposit  Minimum trade size Maximum leverage Spreads
Basic $500 0.01 1:500 0 pips

 

Clients of AXISCapital are offered trading with variable spreads, no commission fees leverage up to 1:500 on the MetaTrader 4 platform. Clients who deposit more than $1000, are entitled to some extras, such as more bonus options.

 

Besides, the broker offers Swap-free services to clients of Islamic belief.

 

Overall, AXISCapital’s offerings appear standard: No-Dealing-Desk execution, high leverage levels, no commission fees, stable trading platform, and 20% welcome on-deposit bonus. Nonetheless, the broker cites as typical a spread of 2 pips on EUR/USD, which is above the average for the forex market.

 

By comparison, average trading costs for this pair with FX Choice (also licensed by Belize’s IFSC) amount to around 1.2 pips/lot (including spreads averaged 0.5 pips and a commission of $7 per lot round trip) Besides, the minimum initial deposit required by FxChoice is $100 (which also includes ECN accounts).

 

The Company. Security of Funds

 

Company

Country

Regulation

 AXISCapital Corp Limited

Belize

N/A

 

AXISCapital is an offshore brokerage that offers trading in currency pairs, precious metals and commodity and indices CFDs on the good old MetaTrader 4. The company behind the brand, AXISCapital Corp Limited, claims to be based in Belize and licensed by the International Financial Services Commission (IFSC).

 

However, our search in the IFSC’s website returned no results. What is more, we checked in the popular Forex Peace Army (FPA) forum and it recommends the highest level of caution when dealing with AXISCapital.

 

Because of all the risks associated with Investing in offshore and/or unregulated brokers, we generally advise traders to stay away from such companies  and to choose among firms licensed by reputable regulators such as FCA or ASIC, for example.

 

Trading Platform

 

As we have already mentioned, AXISCapital supports the popular MetaTrader 4 (MT4), available as desktop and mobile versions.

 

MT4 offers ease of use, stability and full set of professional features, such as technical indicators, extensive back-testing environment, advanced charting tools and trading robots (EAs).

 

AXISCapital also offers MultiTerminal a MT4 component, intended for simultaneous management of multiple accounts (PAMM service). 

 

Methods of Payment

 

AXISCapital offers bank wire transfer, credit/debit cards, Skrill and Neteller as payment methods.

 

Conclusion

 

AXISCapital is another forex broker that is not regulated and offers online trading services on the MT4 platform. Here are, in a nutshell, the advantages and disadvantages of this broker:

 

Pros  Cons
MT4 available Not regulated
  Spreads above average
  Comparatively high initial deposit required

 

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Deposit/Withdraw

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Customer service

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Summary

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Traders` reviews for AXISCapital

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