Overview:
| Broker Name | Azex Trade |
| Website | https://azextrade.com |
| Regulation status | Not regulated |
| License Status | Not licensed |
| Traders’ review | Negative |
| Trading platform | Not identified |
Is azextrade Regulated?
Currently, this trader’s website is not available to browse. We tried to get the regulation information from their previous traders’ reviews and submitted complaints through our website. Azextrade claimed to be regulated by the Marshall Islands Business Corporation Act, but this is not a recognized financial regulator. The company is not registered with any reputable financial regulator such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC). This lack of regulation raises concerns about the company’s legitimacy and trustworthiness.Warnings from Financial Regulations:
Several financial regulators, including the FCA and the Financial Markets Authority (FMA) of New Zealand, have issued warnings against azextrade. The FCA has stated that the company is operating without its authorization and is likely to be a scam. The FMA has also warned that azextrade is not authorized to provide financial services in New Zealand and is likely to be a scam.
What Currency Pair Do They Offer?
Azextrade offers trading in a variety of currency pairs, including majors, minors, and exotics. However, the company’s lack of regulation and dubious reputation raises questions about the reliability of its prices and execution speeds.
Customer Support:
Azextrade provides customer support through email and live chat. However, there have been reports of slow response times and unhelpful customer service representatives. This lack of adequate customer support is a red flag for traders who may require timely assistance with their trades.
Trading Method (MT4/MT5/Any other method):
Azextrade offers a trading platform that supports both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are popular among traders for their user-friendly interfaces, advanced charting tools, and automated trading capabilities. However, the use of these platforms does not guarantee the reliability and legitimacy of the broker.
What Do Traders Think About azextrade?
There are mixed opinions about azextrade among traders. Some traders have reported positive experiences with the company, while others have reported issues with execution speeds, prices, and withdrawals. However, the overwhelming majority of reviews suggest that azextrade is a fraudulent company that should be avoided.
What To Do If You Get Scammed?
If you have been scammed by azextrade or any other fraudulent broker, there are several steps you can take to recover your funds. First, you should contact your bank or payment provider to request a chargeback. If this is unsuccessful, you can file a complaint with the financial regulator in your jurisdiction. You can also contact law enforcement agencies or seek legal advice to pursue legal action against the broker.
You can submit your case through our website form. We will evaluate your case and will provide you with a free consultation. In this consultation we will provide you with some recovery service recommendations and guidelines on how to be safe from these kinds of scams.
File A Complaint & Get Free Consultation
Final Thoughts:
Azextrade is a broker that raises serious concerns about its legitimacy and trustworthiness. The company is not regulated by any reputable financial regulator and has been the subject of warnings from several regulators. Traders should exercise caution when dealing with this broker and consider using a regulated and reputable broker instead. Remember, if something seems too good to be true, it probably is.
