AX Trader claims to help you earn money without doing anything. They promise a passive income if you choose to invest in any of the investment plans the app offers. However, they can’t provide such income since it is a scam. They claim to be located in London, but there is no proof that they are operating there legally.
At first, we thought it was a legit site, but we found some irregularities in its operation after doing a thorough assessment. This AX Trader review is written to warn people about this scam website.
What is AX Trader?
AX Trader claims to be an investment company providing passive income for its members. But they did mention how and where they are investing the money. The app offers three ways to earn.
First is the basic plan with a minimum deposit of $10. You will get 3% of the earnings daily for a month. The Premium and the Supreme plans offer 4% and 5% earnings daily for a month. If these are legit, you will earn around 150% returns on your investment in one month as an AX Trader investor. This too good to be true earnings is hard to achieve.
They claim to be operating in London and are registered in the UK, and they assure their members that they will earn big if they invest in AX Trader. The question is, are they telling the truth?
How does it work?
AX Trader claims to be a legit company, but they are not. It started as a Ponzi scheme an illegal financial structure. They pay their old members using the money they collected from the new members. The people behind this scam software are just redistributing the money.
If you are following Ponzi scheme companies, you will know that sooner they will be closed out. This scheme will not survive long, especially if they do not have other sources or any product to offer. They can’t get more money by merely recruiting people. Thus, this scheme will always collapse.
AX Trader is experiencing the slowing down of recruitment, so they are starting to collapse. Complaints are pouring in because they were not able to pay their members. The investors can’t withdraw their money because they are trading using cryptocurrencies. It is impossible to reverse a cryptocurrency transaction. Only the authorities can hold the accounts of scammers and return the victim’s money.
Why AX Trader is a scam?
We have collected pieces of evidence to prove AX Trader is a scam. Even an ordinary individual can see why you should not trust the software. We have enumerated three of the reasons why we consider this app a scam. There is no assurance that you will earn with this app because it is a scam. Below are three proofs to prove that it is a fraud.
One way of determining if a trading app is legit or not is by checking its license. Every country has an organization that handles the licensing of financial services. They cannot operate legally if they do not have the license. What they have is a tax registration which is relatively easy to acquire in the UK. Most scammers are using it to add credibility.
AX Trader has done the same thing. People are not aware that tax registration is not proof that this app is legit or reliable. It is just basic paperwork, and any investment firm can acquire it in the UK. A legitimate financial company in the UK should get its authorization from the FCA or the Financial Conduct Authority. This company does not have this authorization.
Unrealistic investment plans
One of the fastest ways to determine if the software is a scam is to check on the investment plans. Most scam financial investment program offers an unrealistic profit. AX Trader is one of them. It offers a monthly ROI from 90% to 150%, which is no legit site can achieve in financial trading. So if you see an offer this high, stay away from it because it is a scam.
AX Trader was able to pay some of their members. These lucky investors should be warned right away not to invest more as they might lose their investment. The Ponzi scheme is the same as the pyramid scheme. They get all their funds from the new members. Being a member, you need to recruit someone to earn. Once the recruitment slows down, they could not sustain the company and close down without even a warning.
AX Trader is a scam, so you should stay away from it. You will lose everything with this scam site so stay away from it no matter what. Look for a legitimate website to invest in. Make sure they are dealing with regulated brokers. To test your luck on trading, you can start with the free demo using virtual money, so you will not lose anything.
▷ Meet one of the most dangerous scams: EA Pip Scalper.
Is AX Trader safe?
AX Trader is a scam, so you should not trust it. It is not safe to trade using this app.
How much is the minimum amount to deposit to start trading with AX Trader?
It depends on the investment plan you choose. The Basic Plan is $10, the Premium, it’s $2,000, and for the Supreme Plan, it’s $10,000. But we suggest that you should not waste your money or time with AX Trader because it’s a scam.
What is the maximum amount I can withdraw from AX Trader?
If you withdraw via PerfectMoney, the minimum is $2, $3 for cryptocurrency and there is no maximum withdrawal amount. But, we are not sure if you can withdraw anything. You might lose all your investment since this is a scam.
⊛ Do you have any extra proofs? Please share them in the comments below ⊛