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In my Axion Trade review, I found that Axion Trade is offshore regulated, holding a license from the FSA (license number SD175). However, it also has a revoked ASIC license (license number 001293799) and a status of "exceeded" from SERC (license number 037). From my perspective, the offshore regulation might make some traders uncomfortable, especially those looking for strong regulatory oversight. For a more secure trading environment, I would prefer a broker with a robust regulatory framework like the FCA or ASIC with active status. This raises a few red flags in my Axion Trade review, but if you're okay with taking some risks, it still offers solid trading conditions.