Beware of solicitations by Axes Prime Ltd.
Investor warnings - News
Montréal, December 20, 2021 – On February 8, 2021, the Autorité des marchés financiers (AMF) cautioned 
This link will open in a new window Québec consumers about solicitations by Axes LLC, the website of which was www.axes.com.
This site appears to no longer be available. However, the AMF has been informed that an entity named Axes Prime Ltd. (Axes Prime) has been soliciting Québec investors by phone and using the promise of high returns to entice them into opening an account on its platform via its website, www.axes-prime.com. The AMF has found that some social media accounts show Axes LLC and Axes Prime as being part of the same group of companies.
Axes Prime purports to be a trading platform that offers financial services such as equity, foreign exchange and derivatives trading. Axes Prime is not registered with the AMF and is therefore not authorized to solicit investors in Québec.
Axes Prime uses the same solicitation method as Axes LLC. Investors are usually contacted by phone and quickly referred to the Axes Prime website. The phone number often has a Québec area code (418, 514, 819, 450, etc.).
The employees doing the soliciting are often insistent, baiting their targets with promotions, then pressuring them to open accounts on their platform so they can take advantage of them.
They also offer to assist with account set-up by taking over the investor’s computer remotely through an application like Anydesk.
Account statements may show significant profits when viewed on the platform. It is not uncommon for victims to be able to withdraw a small amount of cash, giving them reassurance and an incentive to invest more. However, when victims try to recover their money, the contact person at Axes Prime will use a variety of avoidance tactics while offering them such things as insurance, protection plans or new and attractive promotions to get even more money out of them. After some time passes, the victims will no longer able to reach the contact. They will never recover the invested money.
The websites www.axes.co and www.axes-prime.com are on the AMF’s warning list This link will open in a new window of companies and platforms that illegally solicit consumers in Québec. However, this list is not exhaustive. As illegal platforms using this type of scheme often change names, the list may not contain the name of every single platform that solicits Quebeckers illegally.
The AMF wants to remind the public that offering investments—whether over the Internet, by telephone or in person—is a regulated activity. Any individual or firm promoting an investment product must be registered with the AMF or benefit from a registration exemption. To make sure you’re not illegally solicited, check whether the individual or firm who contacted you is on the Register of firms and individuals authorized to practise This link will open in a new window or call the AMF Information Centre This link will open in a new window.
The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.
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