AxCap247

AxCap247 (axcap247.com)`quickly lands on our bullseye for a number of crucial reasons that we will explore in this review. Read on to find out more.

AxCap247’s parent company Axis Capital Markets Limited is registered in England and Wales, and is regulated by the FCA. It took us less than a minute to check the database and confirm the validity of the broker. However, the broker seemed rather limited. There isn’t much to it in terms of content and there is one major deal breaker that we must mention. And that is the lack of any legal documents to speak of. We assume that they will become available once an account is validated. Either way, the lack of legal documents is a disappointment, and a huge indicator that the broker is rather lackluster, even though possessing a legitimate and respected regulation.

We opened a demo account and got a EUR/USD spread of 1,8 pips, which is slightly above average, and can be seen as rather unfavorable to traders. The leverage is capped to 1:30 by ESMA, as the broker is based in the UK.

The trading platform gives us Forex Pairs, Indexes, and Commodities as trading instruments. However, the website claims that the only products are Equities and Forex Pairs. This type of contradictory information is always a nuisance.

The website seems to be available only in English.

AXCAP247 LOGIN

As a leading trading platform, MT4 has become a household name. AxCap247 has adapted MT4 as its primary platform by offering some great features: micro lots, automated trading bots, 500 individual orders per account, VPSs (Virtual Private Servers), customizable trading indicators, and much more. The broker has included numerous add-on features that add an extra layer of immersion.

The leverage is limited to 1:30, while the EUR/USD is 1,8 pips, which is a concerning amount if we are to be honest.

MT4 is available to be downloaded and installed as a standalone software.

Because of the lack of legal documents, we cannot see if there are any details on commissions.

AXCAP247 MINIMUM DEPOSIT

The minimum deposit is $100. This can be seen as a very welocme minimum deposit, since more novice and reluctant users can easily jump in and start trading.

The funding methods are Credit Card, Neteller, Skrill, and Wire Transfer.

Credit Card deposits are charged with 2%, while Neteller ones are feed with 4,4%.

The base currencies, and the processing times have not been mentioned.

AXCAP247 WITHDRAWAL TIME AND FEES

All brokers under the watchful gaze of the FCA are promised a fair and secure withdrawal process.

The minimum withdrawal amount is $100.This can be seen as fair seeing the as the minimum deposit is the same amount.

Withdrawal charges are as follows: 2% for Neteller; Credit Cards are feed by $20; and Bank Transfer fees depend on the banks in question.

The same methodsused to deposit can be utilized to withdraw a sum from a user’s account: Credit Card, Neteller, Skrill, and Wire Transfer.

BOTTOM LINE

There is little to work with at AxCap247. The only thing that seems to keep this broker from obscurity is its surprising FCA regulation. Nevertheless, we cannot and will not recommend this brokerage firm to anyone. Check our Recommended CFD Brokers for the best choices.