BitCapital Axis – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
BitCapital Axis - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://bitcapitalaxis.com
Founded: 2023
Regulations: Not Licensed
Languages: English
Deposit Methods: Cryptocurrencies
Minimum Deposit: $100
Free Demo Account: Not Provided
Number of Assets: Not Specified
Types of Assets: Currencies, Stocks, Cryptocurrencies
Trading Accounts and Conditions
BitCapital Axis does not offer their clients different types of trading accounts. Instead, the broker requires you to invest different minimum deposits depending on the type of trading asset you choose. Thus, if you select stock investments, then the minimum deposit is $500. If you choose forex, then the minimum deposit is $1,000. And the minimum deposit for cryptocurrencies is $100.
There are no trading conditions mentioned anywhere on this broker’s website, so we cannot share that information with you.
BitCapital Axis – Advantages
There are no advantages to trading with BitCapital Axis.
BitCapital Axis – Disadvantages
Given here are all the reasons why BitCapital Axis is a bad bet:
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Lies About Regulation
The first thing that tells us that BitCapital Axis cannot be trusted is their lack of regulation.
All legitimate brokers ensure that they are appropriately regulated. This means being regulated by the financial authority of the jurisdiction in which they operate.
This broker claims to be based in the UK, therefore, it would be safe to assume that this broker should be regulated by the Financial Conduct Authority, which is the regulatory authority of this country. However, BitCapital Axis’ claim of being legitimate are lies. This broker is not regulated by the FCA at all. And neither is this broker regulated by any other financial authority.
All of this tells us that we are dealing with a broker that is operating without a license and that makes them a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Blacklisted by FCA
If this broker thinks that they can operate in the UK without being licensed, then they are very wrong. The FCA has issued a warning against BitCapital Axis, and has blacklisted this broker in the UK. According to the regulator’s warning, this broker is operating in the UK without a license and that dealing with this broker would be dangerous as they are scammers.
When a world-renowned authority like the FCA blacklists a broker, you know that you are dealing with a scammer.
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Non-Functional Trading Platform
The trading platform in combination with the trading conditions are what a broker has to offer their client. These are the two critical offerings, so brokers ensure they offer the best trading platform in the market to their clients. The top two trading platforms today are the MetaTrader 4 and MetaTrader 5 software. These are the types of software that are so easy to use that even novice traders can use these platforms. Furthermore, they also have a massive range of features and functionalities that make them perfect for pro traders too.
When a broker skimps on their trading platform, they cannot be trusted.
With BitCapital Axis, the broker has not skimped on their platform; they do not have a platform! This broker has tried to pass of a few TradingView charts as their web-based trading platform. There is no functionality in their so-called trading platform at all.
The fact that this broker has a non-function trading platform tells us clearly that we are dealing with a scammer.
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No Trading Conditions
Another indication that a broker is not safe is when there are issues with their trading conditions. Legitimate brokers know that their main offerings are their platform and their trading conditions. So, along with a top-of-the-line trading platform, such brokers will ensure that their trading conditions are fair and attractive. This means affordable spreads and commissions, reasonable leverage ratios, speedy order execution methods and so on.
When we see a broker that has no trading conditions at all, this is a red flag. It means that the broker is hiding their trading conditions because they are not advantageous. Or, as in BitCapital Axis’ case, they do not have any trading conditions because they do not have a working trading platform.
Either way, the lack of clarity on trading conditions means that the broker cannot be trusted and that it would be better to find a more transparent and regulated broker to do business with.
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Single Payment Option
The only way that BitCapital Axis allows you to make payments is via cryptocurrencies. This is a huge red flag, and we would strongly advise all traders to not do business with a broker if the only payment method they offer is cryptocurrencies. This is because crypto transactions are all anonymous, and they are also irreversible.
If you are dealing with a trusted broker, it is not an issue. But when you are dealing with a shady broker such as BitCapital Axis, then it is a very dangerous move. This is a sure way to lose your funds. This broker can take your money and you will never get it back.
Therefore, if you are dealing with a broker for the first time, it is safer to opt for a payment method such a credit cards. Such payments allow you to file for a chargeback in case you feel you are scammed. There is a good chance that you will be able to get your money back.
Trusting a broker such as this one with your funds would be a bad idea.
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Issues with Withdrawal Policy
We also see a red flag in relation to this broker’s withdrawal policy. BitCapital Axis claims that they offer an instant withdrawal process and that the minimum withdrawal amount is based on which trading assets you are using. However, that is all the broker tells us. We do not know if there are fees involved in withdrawals. We also do not know if there are any minimum trading volume turnover targets involved.
Such lack of information is another sign of a scammer.
Conclusion
BitCapital Axis is a scammer and best avoided.
BitCapital Axis
Pros
- None
Cons
- Lies About Regulation
- Blacklisted by FCA
- Non-Functional Trading Platform
- Single Payment Option
- Issues with Withdrawal Policy
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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