ANSWER
Dear Investor,
AXPM, previously known as AXEL, is not a reliable trading platform.
The broker claims to be operated by Axel Private Market Limited and registered in Saint Vincent and the Grenadines. While we did find this company in the registry system of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, this only indicates its incorporation as an International Business Company (IBC) and does not mean it holds any valid regulatory licenses. The SVG FSA has publicly stated that it does not regulate forex trading, nor does it issue licenses to brokers.
Furthermore, AXPM claims that its entity AXEL PRIVATE MARKET PTY LTD is regulated by the Australian Securities and Investments Commission (ASIC). However, upon verification, while we did locate the company in ASIC's database, the registered domain listed is http://www.axelprivatemarket.com, which does not match the platform in question. This suggests that the platform may have misappropriated the license information of a legitimate, compliant broker.
In addition, AXPM does not appear to have obtained authorization or licenses from any other regulatory authorities to date. Therefore, we strongly advise you to avoid trading with such an unlicensed broker to protect your financial security.
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