Scam Confirmed! AximTrade Collapse!

On September 15, Fiona, a customer service officer at the forex broker AximTrade, posted a message that sent shockwaves through the trading community. The message declared that AximTrade was in a financial crisis and had now completely halted its operations. This startling revelation has left many investors in a state of panic, with their hard-earned money hanging in the balance.

Details of the Message

Fiona's message on September 15th was a rude awakening for many traders who had entrusted their funds to AximTrade. In her post, she openly admitted that the broker was facing a financial crisis and had ceased all trading activities. This announcement is a clear indication that AximTrade is in dire straits, on the brink of collapse. The message advised investors with remaining funds in the accounts to contact AximTrade's customer service to discuss the possibility of a refund. There is a high possibility that investors may never see their money again.

What is AximTrade？

So what is AximTrade exactly？ According to WikiFX, AximTrade is a forex broker that was founded in 2020 and is registered in Saint Vincent and the Grenadines. The broker offers a range of account types, including Cent, Standard, ECN, and Infinite, which cater to traders with different needs and experience levels. WikiFX has given this broker a fairly low score of 1.99/10.

The Complaints Against AximTrade

Adding to the growing concerns surrounding AximTrade is the alarming number of complaints received by WikiFX, a platform that tracks and reviews forex brokers. WikiFX has reported as many as 70 complaints related to AximTrade in recent times. These complaints range from withdrawal issues and trade manipulations to poor customer service and lack of transparency. Such a high number of grievances raises serious doubts about the legitimacy and integrity of the broker.

WikiFX also recently exposed the broker's fraud, please follow the link to this article for details

An investor’s experience with AximTrade “has been nothing short of a financial nightmare.”

Recently, one trader told WikiFX that a broker named AximTrade delayed the withdrawal and eventually caused trouble for the trader to get his money back. The trader has been waiting for two months, and the withdrawal status still shows "pending". The trader lost patience and doubted the broker’s financial stability and commitment to its clients.

Exposure 2023-09-07

Further Reading

Conclusion

AximTrade's collapse serves as a stark reminder that the forex market is not without its risks, and thorough research is crucial to avoid falling victim to unscrupulous brokers.

WikiFX is actively reaching out to the victims hoping to find more evidence. Check WikiFX often for the latest updates.

In the end, the hope is that this unfortunate incident will serve as a lesson for all traders, emphasizing the importance of choosing a reliable and regulated broker to safeguard their investments.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!