Do you want to make money with Auxi Trading broker? Here are things you have to know before making that move. Auxi Trading is a broker you need to know about before thinking of the broker’s service. While we must say you tread carefully with this broker, kindly read through this review to find out what we have uncovered.
Table of Contents
About Auxi Trading Broker
In the sale pitch of Auxi Trading, it is stated as two different companies with location in Seychelles and Saint Vincent Grenadines. The offers present by this broker are crypto currencies, stock indices, commodities and forex and 30 more assets for trading.
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Auxi Trading claims to be a safe and reliable trading broker for amateur and professional traders. This broker offers traders its powerful chart types that help to make trade directly.
auxitrading.com: Reasons to Avoid This Broker
auxitrading.com is a brokerage platform with no regulatory body overseeing its financial services. What that means for traders thinking of using an unregulated broker is that their money is at risk. We can’t stop pointing the importance of regulation especially when you are dealing with an offshore broker like this one.
Another red flag we found in this auxitrading.com is that there is no free account for traders. If this broker can’t offer this for traders to test its services on a demo account, how can they know its viability in the real market.
While there are different CFDs auxitrading.com claims to offer, we find out that only cryptos are available for traders. That is an outright ploy to lure traders into signing up.
Withdrawal and Deposit
Withdrawal process:
Auxi Trading broker does not state the fee it charges traders for withdrawal. Scam brokers like this one are known to ask for more money when traders make withdrawal requests. This is because there is no initial amount traders must pay.
Minimum Deposit
Auxi Trading minimum deposit is not indicated on the website. Even though this broker allows for any amount to begin trading, that does not make it legit for traders.
The only payment method of Auxi Trading broker for traders is crypto currency. Payment with this option throws the doubt that this broker is not to be trusted. This broker is just avoiding charge back. We know payment made with crypto is hard to trace. What happens to other options like Credit and Debit cards, here is the red flag.
Auxi Trading Platform
Auxi Trading offers a web based trading software for traders. Its avoidance to include the market standard MT4 and MT5 is what we don’t seem to know. It provides no reason for that on its website.
Auxi Trading leverage is 1:100 for cryptos and 1:1000 for FX majors. The leverage set for FX major is quite high and not just that we find out that there are no majors provided by this broker.
The option of providing free account for traders seems to be a cut off for Auxi Trading broker.
Auxi Trading Licensing and Regulations
From our findings, Auxi Trading broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk with this broker. As an offshore brokerage companies, well-known regulators like Financial Conduct Authority and the rest don’t grant license to any offshore broker. Below is our search for Auxi Trading on FCA.
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is auxitrading.com a Legit Broker?
No, auxitrading.com is not a legit broker for traders and because of that, traders are advised to steer away from such broker or else you will be scammed.
There is no truth in auxitrading.com since they provide an offer that cannot be found on the website. That is a huge turn off that passes clearer message about the broker. Therefore, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.