The official website of AxePro Group is currently inaccessible. The company seems to have gone out of business. Therefore, we can only gather some relevant information for informational purposes only.
2022-04-28 AMF Added AxePro Group to the Warning List
OnApril 28, 2022, the French regulator AMF issued a warning that AxePro Group provides illegal forex trading services. The company is not regulated by the AMF. You can visit the following website for details: https://www.amf-france.org/en/warnings/warnings-and-blacklists?page=0.key=www.axeprogroup.com.conditions%5Bcategorie%5D=224
2022-06-10 We have reviewed that AxePro Group is an unregulated forex broker
AxePro Group said on its website that its company has been putting customer interests first since 2016 (about 5 years ago). However, we found that its domain name was created in December 2021. This is a strong red flag.
AxePro Group claims to have been authorized by the Monetary Authority of Saint Vincent and the Grenadines in 2021 to engage in financial and currency trading business for the buying and selling of currencies, and its company's authorization number with this institution is 678. However, we could not find a match result for this company in SVG FSA's registration.
In the "Contact Us" section of its website, we see that the company has offices in the UK, Canada, and France, and that AxePro Group has business registration locally. But the actual check is - the broker is not regulated in these places.
What's more, the French regulator - AMF added it to the warning list because the company provides illegal forex trading services.
Based on the above information, we can conclude that AxePro Group is a fake broker.
Since the broker's website is not accessible now, we are also unable to obtain more and more direct details about its trading assets, leverage, spreads, trading platforms, minimum deposit, etc.
As for regulation, it has been verified that AxePro Group does not currently have any valid licenses.
But most non-compliant brokers do not disclose providing other more direct and authentic contact information, such as phone numbers or company addresses.
Note: AxePro Group as an unregulated broker, which means that clients' investments may not be adequately protected. The lack of regulation increases the risk of potential financial losses due to the lack of a regulator to hold the company accountable.
If investing with an unregulated broker, there is a high chance that they will run away with your hard-earned money without any recourse. Therefore, investors must be extremely cautious and remind everyone to stay away from these unregulated brokers as much as possible
