ApaxWealth is a financial service provider claiming to have been established in 2013, offering a variety of CFD trading options including forex, stocks, indices, futures, precious metals, energy, and cryptocurrencies. However, a detailed analysis of its company background and operational information reveals numerous inconsistencies and questionable aspects, warranting caution for investors.
Company Background
Contradictory Registration Information
The homepage of ApaxWealth claims it is a UK-registered company with registration number 11994686 and boasts 23 years of financial trading experience. However, the "ABOUT US" page indicates the company was founded in Australia in 2013. This contradictory description significantly undermines the platform's credibility.
According to the UK Companies House, company number 11994686 actually corresponds to ACE COINS LTD, which was dissolved on October 26, 2021. Moreover, the company history on the platform’s "ABOUT US" page was found to be a complete copy of content from the broker TMGM's website, further exposing the falsity of its information.
Domain Registration Information
The domain for ApaxWealth was registered on December 30, 2023, which clearly contradicts its claimed founding date of 2024. Additionally, this domain was acquired by the current team on December 30, 2024. The contradictory timeline indicates non-transparent operational background.
Trading Information
Spreads and Leverage Offered
The platform claims to offer spreads starting from 0 points, maximum leverage of 1:500, and a minimum deposit of 500 USD. Although these trading conditions seem attractive, their authenticity is questionable since they lack third-party verification.
Account Types
ApaxWealth offers five account types, with trading conditions improving as the account level increases:
- Starter Package: Minimum deposit 500 USD, spreads from 1.9 points, no leverage (1:0), for beginner investors.
- Bronze Package: Minimum deposit 3,500 USD, spreads from 1.7 points, leverage 1:5, for slightly larger fund users.
- Silver Package: Minimum deposit 30,000 USD, spreads from 1.4 points, leverage 1:10, for intermediate investors.
- Gold Package: Minimum deposit 115,000 USD, spreads from 1.1 points, leverage 1:15, for long-term investors.
- Premium Package: Minimum deposit 250,000 USD, spreads from 0.9 points, leverage 1:20, offering high leverage conditions for well-funded investors.
Deposit and Withdrawal Methods
The platform does not clearly state the supported methods for deposits and withdrawals, processing times, or any potential fees. This lack of transparency could cause unnecessary troubles or risks for users during the deposit and withdrawal processes.
Platform Facilities
Trading Software
ApaxWealth does not disclose specific information about its trading software. Users can only complete registration and trading through its self-developed web-based system. Compared to the mature platforms like MetaTrader offered by legitimate brokers, this design by the platform limits user choices and may pose operational risks.
Educational Resources and Agent Policy
The platform does not provide any educational resources for trading, nor has it disclosed whether it supports agency cooperation. This highlights a significant lack of user support services.
Regulation Information
Claimed Regulatory Information
The platform claims to be regulated by the following organizations:
- Australian Securities and Investment Commission (ASIC)
- Vanuatu Financial Services Commission (FSC)
- U.S. Securities and Exchange Commission (SEC), with a claimed broker-dealer license number “GA00569721.”
Actual Verification Results
Upon verification, all of ApaxWealth's claimed regulatory information was found to be false:
- ASIC number 436416 actually belongs to TRADEMAX AUSTRALIA LIMITED.
- The Vanuatu regulatory entity Trademax Global Limited is in fact a subsidiary of broker TMGM.
- The U.S. SEC number “GA00569721” does not conform to the standard SEC number format, nor could it be found in their database.
- The Australian regulatory entity “ApaxWealth Australia Pty Ltd” mentioned on their website does not exist in the ASIC database.
These falsified regulatory claims further reveal the platform’s lack of legitimacy.
Company Address and Contact Information
Address Authenticity
The website claims the company address is 71-75 Shelton Street, Covent Garden, UK. However, according to UK Companies House inquiries, no company named ApaxWealth is registered at this address. Additionally, this address is registered with numerous other companies, suggesting it is likely a fraudulent shared office address.
Contact Information
The platform only provides email contact (e.g., [email protected]) without any phone numbers or social media accounts. This singular mode of contact not only limits user support but also poses more obstacles for investors seeking to assert their rights.
Website and User Reviews
Website Design and Traffic
Notably, the ApaxWealth website uses the same template as known scam platforms like Grand BittrexMarkets, UnlimitedTradeFX, and BitStockTrades. According to Semrush data, the platform's website averages less than 100 visits per month, indicating it is hardly used.
User Reviews and Brand Exposure
No user reviews or news reports about ApaxWealth could be found online. This further suggests its credibility and recognition in the market are extremely low.
Risk Summary
- Fake Company Background: The platform's registration time, address, and company history are inconsistent, with evidence of content plagiarism from other brokers.
- Opaque Trading Information: Although account conditions are described, deposit and withdrawal methods are unclear, and the actual trading conditions are unverified.
- False Regulatory Information: ASIC, FSC, and SEC regulatory claims have all been verified as false, with no legitimate authorization held.
- Singular Contact Method: Only providing email as a communication channel, lacking phone and social media support, making rights protection difficult.
- Questionable Website Design: Shares templates with known scam platforms, with extremely low market influence due to minimal traffic.
- Lack of Educational Resources and Agent Support: Offers no trading educational resources or disclosed agent cooperation policy, indicating poor user support.
Conclusion
In summary, ApaxWealth exhibits numerous classic scam platform characteristics, including false registration information, fabricated regulatory claims, opaque trading information, and insufficient user support. Investors should remain vigilant and avoid being misled by the platform's promotion to prevent financial loss.
