There’s already a warning out regarding AuxiMarket (auximarket.com) from the Financial Conduct Authority. And that means we have to expose why regulators don’t want you to trade with the platform. There’s a good reason why regulators are there, to protect investors. Most investors blindly signed up with Auxi Market, hoping to earn profits from trading. That’s not going to happen. Here’s what you need to learn in our thorough AUXIMARKET REVIEW.
You won’t get to know their background and history, and that’s a problem. In addition, the platform will attempt to steal your funds by blocking withdrawals. And that’s what led regulators to issue an advisory against trading with AuxiMarket.
Currently, no members have had the chance to withdraw funds from the platform. And that creates a huge impact on traders. The platform is also an exit scam and will soon shut down. Once a warning gets issued, there’s no lifespan for the platform.
The platform will try and convince members that everything is okay to try and save face. When you email the platform regarding compliance, the platform seems to ease into things. You get an email claiming the platform is in talks with the regulator to get a license.
Why do they claim to have complied with the FCA on their homepage? These are lies well exposed by regulators. The platform was only using such information to mislead naïve investors and traders.
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AuxiMarket is only looking to take advantage of naïve investors. That’s their end game and taking your funds from you. There’s no security of funds as the platform seeks to fool investors into depositing more funds.
Before investing in any investment opportunity, we recommend doing due diligence. Try and find out what makes a platform tick. That’s the only way to guarantee the safety of funds. Leave platforms that seem to have flaws or face warnings from regulators.
To find out which trading platform works best, you have to weigh the pros and cons. Find out what makes the platform an insightful place to work with. The platform ought to be transparent and guarantee safety while trading.
After looking into Auxi Market, one thing stood out: the platform is completely fooling investors. Even the entire website seems to hide crucial details from members. One of them has to be how to withdraw and the estimated time.
Withdrawing funds from AuxiMarket is the biggest hurdle you will face as a trader. So the platform moves to block withdrawal attempts. Once you click on the withdrawal tab, the platform asks for verification documents.
At this point, the platform knows members will do anything to withdraw funds. So instead of using a two-factor authentication process, the platform requires vital documents. These include a copy of your ID, bank statements, and credit card information.
A Cyber security expert warns that such platforms look to sell your information to third parties. The platform can easily create a new persona with your credentials with such information. That’s why it’s risky sending such documents.
Here are some of the disadvantages we found with auximarket.com;
AuxiMarket furnishes members with four different account types to choose from. These include Professional, Premium, Edge, and Standard. Each of these accounts comes with a different set of features.
Let’s take a closer look at each of the four accounts;
Professional
With the professional account, members enjoy maximum leverage of up to 1:400. Spreads start from 0.6 pips, and there are no commissions. However, you have to deposit a minimum of €£$5,000 to get started. Members also get free VPS and one on one trading sessions with experts.
Premium
For the premium account holder, leverage starts from 1:30. Spreads start from 0.0 pips, with members enjoying trading commissions. You have to make a minimum deposit of €£$10,000 to get started. The account targets institutional clients as well.
Edge
€£$5,000 is the acceptable minimum deposit with the account. There are no commissions with spreads starting from 0.6 pips. Members get free VPS and one on one trading sessions with an expert. Leverage is also set at 1:30.
Standard
It’s the most basic account, with the platform claiming its best for beginner traders. Leverage is normal, which is set at 1:30 for all trading assets. There are no commissions with spreads starting from 1.0 pips. The minimum acceptable deposit is €£$500.
There’s no doubt that the platform offers fair trading conditions in terms of account features. Leverage is acceptable except for the professional account. Unfortunately, the platform seems to put your trading position at risk with high leverage.
Only experts can take advantage of high leverage, and this is on small occasions. The VPS doesn’t do much justice for the other account holders. The platform’s accuracy is also questioned, with members asking about the copy trades outcome.
You won’t get a demo account to test how best to use the platform’s set features. And this is a huge letdown for beginners. Members need to test account features before losing funds with a live account.
There are five classes of trading instruments available on the platform. These include commodities, cryptos, forex, indices, and stocks. Members have to trade with household commodities such as wheat and sugar for stocks.
Crypto trading is usually the best form of trading, thanks to market volatility. The platform pairs leading crypto coins with each other and against major currencies. Some of the crypto assets to find include Bitcoin and Ethereum.
Forex trading is at the core of the platform’s trading activities. You get to trade major and minor currency pairs. There are no exotic pairs that members can use to spread their risks. Some of the pairs include EUR, GBP, JPY, and USD.
You get to trade on the global market scene, thanks to indices. These include DAX, Dow Jones, NIKKEI, etc. Moreover, traders predict the prices of products and services in the world’s biggest market.
We also have stock trading, which has been around for decades. The platform offers stocks from leading companies from all over the world. These include those from manufacturing, tech, and textile, to mention but a few.
There’s little information to suggest who owns or runs the platform. And that means Auximarket is an anonymous trading platform. The problem with such platforms is that there’s no way of recovering funds from them.
AuxiMarket faces a warning from the Financial Conduct Authority. Despite claiming to have a license, there are no documents to match the claim. We have an anonymous and unregulated trading platform, the worst kind.
Your funds are not safe with an anonymous platform claiming false regulatory status. Auxi Market fails to segregate funds. That’s why we have to expose the store for failing to protect the interest of traders.
After checking all the red flags, we shouldn’t recommend using the platform. So please stay away from AuxiMarket.
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