If you are looking for a reliable and trustworthy online broker, you might have come across Axicp. Axicp is a forex and CFD broker that claims to offer competitive spreads, fast execution, and a variety of trading instruments. But is Axicp a legit broker or a scam? In this review, we will examine the features, advantages, and disadvantages of Axicp and help you decide if it is worth your time and money.
What is Axicp?
Axicp is an online broker that was founded in 2019 and is based in St. Vincent and the Grenadines. The broker is regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines, which is not a very reputable or strict regulator. Axicp offers trading in forex, indices, commodities, stocks, and cryptocurrencies through the MetaTrader 4 platform. The broker has four types of accounts: Basic, Standard, Premium, and VIP. The minimum deposit for the Basic account is $250, while the maximum leverage is 1:400. The spreads vary depending on the account type and the market conditions, but they are generally higher than the industry average.
What are the pros and cons of Axicp?
Some of the pros of Axicp are:
- It supports the popular MetaTrader 4 platform, which is widely used by traders for its advanced features and tools.
- It offers a wide range of trading instruments, including over 50 currency pairs and more than 100 CFDs on various assets.
- It provides customer support via phone, email, and live chat 24/5.
Some of the cons of Axicp are:
- It is regulated by a low-tier regulator that does not offer much protection or oversight to traders.
- It has high spreads and commissions that can reduce the profitability of trading.
- It does not have a demo account or an educational section for beginners.
- It has received negative reviews and complaints from some clients who claim that they have been scammed or mistreated by the broker.
Is Axicp a scam?
Based on our research and analysis, we cannot recommend Axicp as a reliable or trustworthy broker. The broker has several red flags that indicate that it might be a scam or at least a very risky choice. Some of these red flags are:
- It is regulated by a weak regulator that does not follow international standards or enforce strict rules on brokers.
- It has high spreads and commissions that are not transparent or competitive.
- It does not offer a demo account or any educational resources for traders to learn and practice.
- It has poor customer service and reputation, with many clients reporting difficulties in withdrawing their funds or getting their issues resolved.
Therefore, we advise you to avoid Axicp and look for other brokers that have more credibility and security. There are many reputable and regulated brokers that offer better trading conditions and services than Axicp. You can check out our list of the best forex brokers here.
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