AXP

AXP is a forex and CFD broker registered in Iraq, with its official address listed as Gulan Tower, World Trade Center offices, floor 13 office 01. The company was established on June 20, 2025, making it a very new entrant in the online trading industry. Its website, axpfx.com, offers trading services in multiple asset classes including forex, indices, commodities, and ETFs.

The broker claims to have offices in London and Kirkuk, but the UK address (London Riverside, London SE1 2RE) appears to be a generic location often used by multiple entities, raising questions about physical presence. AXP's social media presence includes Facebook and Instagram, but no substantial independent reviews or track record are available.

Our records indicate that AXP holds no regulatory licences from any known financial authority. However, the broker's website prominently displays claims of being 'regulated by CMA' (Capital Market Authority) and 'Registered by CBI' (Central Bank of Iraq). We were unable to verify these claims through official public registers, and the absence of a licence number or further details is concerning. The FXCanary Scam Risk Score of 53/100 (Elevated) reflects the high risk associated with trading with an unregulated broker, particularly one making unverified regulatory assertions.

AXP offers two retail trading accounts: Standard and Premium. The Standard account requires a minimum deposit of $100, which is relatively low, making it accessible to retail traders. The Premium account demands a substantial $50,000 minimum, aimed at high-net-worth individuals. Both accounts are advertised with zero commission on trades, with spreads described as 'Normal' for Standard and 'Minimal' for Premium (on some pages).

Maximum leverage is listed inconsistently: the accounts page states 1:400, while the trading accounts page shows up to 1:1000. If the higher leverage is indeed offered, it would amplify both potential gains and losses significantly. The broker does not specify which asset classes are available for leveraged trading, but claims access to over 250 CFDs across five asset classes.

AXP provides the widely-used MetaTrader 4 and MetaTrader 5 platforms, as well as a web trader version compatible with browsers. MT5 is claimed to offer over 15,000 CFD instruments across 19 global markets, a figure that seems ambitious for a newly established broker. The broker also promotes its proprietary 'AXP Analytics' platform for market analysis and trading signals, available as a mobile app on iOS and Android.

The platforms support automated trading through Expert Advisors (EAs) and include standard charting tools. However, no information is provided about execution speed, order types, or slippage policies, which are critical for active traders.

The broker's website mentions 'payment gateways' but does not list specific methods such as bank transfers, credit cards, or e-wallets. A live account application form is available on the site, but it does not confirm deposit options until after registration. Customer support is advertised as 24/7 via phone, email, and live chat. The phone number provided (+964 750 049 3939) is an Iraqi mobile number, consistent with the company's registration in Iraq.

The office hours are listed as Monday to Friday, 9 am to 5 pm for both London and Kirkuk, which suggests limited weekend support despite the 24/7 claim. The broker's educational resources are described as 'comprehensive', but no detailed content is visible without accessing the platform.

AXP appears to target both beginner and experienced traders through its two-tier account structure. The Standard account with a $100 minimum deposit is suitable for retail traders with limited capital, while the Premium account addresses high-volume traders seeking better conditions. However, the lack of regulation and transparent history makes it unsuitable for risk-averse traders.

The broker's emphasis on educational resources and analytics suggests it aims to attract traders who value guidance. Nevertheless, the absence of independent verification and the newness of the company pose significant challenges for anyone considering depositing funds. Traders should exercise extreme caution given the elevated risk score.