Investment Scam Alert: Fake 'Axi' Sets Withdrawal Barriers and Imposes Ever-Increasing Costs

Recently, a Japanese forex investor exposed an illegal trading website impersonating Axi, revealing the platform's series of unreasonable fee demands on the investor.

According to the investor, when he attempted to withdraw profits earned through trading on the “Axi” platform, the broker persistently demanded additional payments under the pretense of “processing fees” and “taxes.” Despite complying with these demands, the platform failed to approve his withdrawal request and instead demanded a so-called “money transfer insurance fee.”

Axi staff informed the client via email that his bank account was related to several identities and had received funds from various countries, some of which were of unclear origin. To ensure a “safe and seamless” withdrawal process, the broker recommended purchasing an “AxiTrader Limited Commercial Financial Insurance.”

This insurance allegedly covered all potential risks during withdrawal, “guaranteeing the safety of client funds.” The cost of this insurance was a staggering 49% of the withdrawal amount—equivalent to ¥35,731,827.00.

Setting up multiple obstacles during withdrawal and continuously demanding fees is a common tactic of fraudulent brokers, aimed at extracting as much money as possible from victims.

In his complaint post, the investor demanded that “Axi” immediately refund all previously paid fees and taxes, and promptly process his withdrawal request. He also explicitly refused to pay the so-called “money transfer insurance fee.”

BrokersView investigations revealed that “Axi” staff communicating with the victim used email addresses from the domain “axindes.icu.” This website features an extremely rudimentary interface displaying only partial currency pair prices, lacking essential information such as regulatory licenses and risk disclosures. Access to further content requires an account login.

BrokersView reminds you

This Japanese investor encountered a typical illegal trading platform. Investors discovering similar brokers and websites should immediately close them and refuse contact from purported platform staff to avoid falling victim to scams.

To avoid investment scams, forex investors are advised to verify a broker's regulatory status through BrokersView before trading.