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Caution: AMF Added AxePro Group to Warnings and Blacklists
Abstract： After our exposure, some of the fraudulent brokers has been closed, but there are always increasing scams. Recently, we found AxePro Group has been one of the frauds.
▶ only six months of company history
AxePro Group says it is Putting its clients first since 2016, about about 5 years ago. However, its domain was first created in December 2021. So how could this happen？ Here is a strong signal that it is a fraud.
▶ without SVG FSA license
AxePro Group presents to provide CFDs investment on a wide range of instruments, including popular FX pairs, Futures, Indices, Metals, Energies and Shares. Besides, it claims to be permitted by the FSA of SVG in 2021 to act as a financial and monetary intermediary in the conduct of financial and monetary brokerage business for the sale and purchase of currencies and intermediating in money marked transactions and as permitted with granted company number 678. However, no results matched for the company can be found on Register of SVG FSA.
▶ no regulation
Checking “Contact Us”, we see its contact offices in the UK, Canada and France, all suggesting local registrations by AxePro Group there. But the case is - it has no regulation in these places. That is to say: all these alleged offices are false, and the company is actually another offshore scammer, which we mentioned before.
▶ AMF added it to Warnings and blacklists
What's more, we find a warning from the French regulator- the AMF, stating that AxePro Group provides illegal forex trading services. The company is not supervised by AMF.
Based on the above information, we can conclude that AxePro Group is a scam.
If you are not sure how to find a licensed broker, you can search on our website to check brokers' details.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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