AxCap247 is a trade name of Axis Capital Markets Limited. The company is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 589327. Axis market provides services for professional traders only.
Unfortunately, professional clients are not covered by all the protections that retail clients receive, including protection against negative balance. In return, professional clients receive tighter spreads and swaps. They also can trade with leverage up to 1:400 for major FX pairs.
AxCap247 offers a variety of 60+ trading instruments in forex (major and minor currency pairs), precious metals (Gold and Silver), 9 global indices, and oil (Brent and WTI) through the MetaTrader terminal. The company uses four main trading platforms to conduct its trading activities: Bloomberg Terminal, IRESS, Real Tick and Meta Trader (MT4 & MT5). The Bloomberg terminal provides access to the Bloomberg Professional service, through which users can monitor, analyze financial market data in real time and execute orders via EMSX (Performance Management System). IRESS is a web-based trading platform intended for market analysis. Meta Trader (MT4 & MT5) is the simplest and the most convenient forex trading platform. With MetaTrader, professional traders can analyse financial markets, run trading robots (Expert Advisors) and copy deals of other traders.
There are two types of accounts ProTrader and ProTrader+ and they differ mainly in the minimum deposit required. You must invest at least USD5,000 to open a ProTrader account and USD10,000 to open a ProTrader+ account. Customers can deposit funds via bank transfers, credit, or debit cards, Skrill and Neteller.
Financial news and an economic calendar are available in the Trading Tools section of the website. However, the news is presented as market summaries that are not updated in a timely manner.
The Execution Policy shows that price slippage may occur despite the automated nature of the platform. The same document reveals that the company may be dealing in investments as an agent and as a principal. This means AxCap247 can act as a market maker whenever it chooses. This creates a conflict of interest.
Overall, this company does not provide services to retail clients. There are a variety of trading platforms, but most of them are too complicated. Institutional clients may find this brokerage attractive but in general there are companies that offer more competitive conditions.