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ASIC Warns Against Axe Invest

Samson Ononeme | Jan. 23, 2019
ASIC Warns Against Axe Invest

The Australian Securities and Investments Commission (ASIC) has issued a warning against Axe Invest saying that the brokerage firm has been providing its services to the Australian public without a license.

It is reported that Axe Invest claims to be an offshore broker based in the Marshall Islands. The archipelago mainly hosts US military installations, green turtle breeding, and tuna processing centers, but in the brokerage sector, the Marshall Islands regulators do not appear to be subject to global brokers. Love.

In fact, brokers use the island's license as a means of legal business, thereby obtaining access to the payment company that does not allow brokers to conduct payments.

And whether Axe actually has an office in the Marshall Islands, the author of the Finance Magnates is willing to bet that there is no entity.

A look at the Cyrillic font at the bottom of the company's homepage and information about some DNS servers shows that the firm's holders are most probably based in Russia or Hungary.

Interestingly, Axe said that he can accept payments including Visa, MasterCard, and American Express, but it is still unclear whether this is actually the case.

On the product lever, Axe offers a service that is 1000 times higher, even though you still need to deposit 500,000. The dollar 's margin comes to get such a large leverage limit.

Moreover, Google's quick search results and some comments revealed that this is a typical fraud broker tenant. One comment has stated that she was told to make a lot of money after the deposit. However, when she logged into the account, she discovered that her password could not be operated, and all company employees stopped responding to her complaints.

After this, an Axe employee, who is said to have harassed her more than Michael Smith, told her to save more money.

All of this reveals that the broker's behavior is fraud, so if you accidentally receive a call from Axe, remember to hang up!


Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.