Axi Review (AxiTrader)
Axi or previously known as AxiTrader is one of top regulated brokers that offers Forex & CFD trading and Spreads from 0.0 and 0.4 pips. The research tools and charting is pretty comprehensive and customisable.
Axi Pros and Cons
- Low Non-Trading fees
- Low Forex Fees
- Low CFD Fees
- No Withdrawal Fees
- No minimum deposit
- Limited portfolio & offers (Only CFD, Forex)
- Investment protection is not available in all countries
- Axi does not provide fundamental data
The broker is fully regulated. We have also checked it against scam and fraud.
A brief Intro
Axi or Previously known as AxiTrader, a well-known Australia based brokerage firm was established in 2007. The brokerage company managed to brand itself among the best no deposit forex brokers.
Axi is a safe and regulated broker and governed by Dubai Financial Services Authority (DFSA) and Australia’s authority: the Securities and Investments Commission (ASIC).
Axi and previously AxiTrader is a registered business name of AxiCorp Financial Services Pty Ltd (AxiCorp).AxiCorp (ACN 127 606 348 and NZBN 9429042567608) holds an Australian Financial Services Licence (AFSL number 318232).
Even though AxiTrader is not publicly listed on any stock exchange, you will easily come across their name whenever you search for the best forex brokers. To trade with Axi, you don’t have to deposit a penny, so trading with a regulated zero minimum deposit broker is great.
The trading portfolio, products and services that AxiTrader offers to traders are limited and mainly available for Forex trading, and Contract for difference. In our research process, we have analysed over 1800+ tier-1 online brokers and listed AxiTrader as an option for:
- Best no deposit forex broker
- Good low fee CFD broker
- Top 10 Best Cryptocurrency Trading Broker
You won't be charged inactivity fees.
Axi Spreads & Commissions
Sometimes the question that traders ask is whether AxiTrader is a good broker for trading foreign exchange or not. Well, playing with leverage is essential for traders and You CAN change the leverage when trading with this brokerage platform.
The commissions and fees that AxiTrader charges for S&P 500 CFD, Europe 50 CFD, and EURUSD are built into spread.
✓ S&P 500 CFD fee is low and around 0.6 average spread cost.
✓ For GBPUSD and EURUSD the commission is $3.5 per lot, which both are pretty low.
✓ AxiTrader does not charge extra fees such as inactivity fees.
Let’s have a closer look at Axi’s fees and compare two brokers to show you the difference. The Scenario is as follows:
We will review a typical trade. It means buying a leveraged position, holding it for 7 days and only sell it after that period.
* Volume: a $2,000 position for the stock Index
* Volume: a $2,000 position for CFD
* Volume: $20,000 for the forex transactions.
The leverage in these scenarios is:
• 20:1 stock index CFDs
• 30:1 forex
By the way, you can easil;y use our interactive comparison tools to compare online brokers. The other two alternatives that we have reviewed and compared against Axi are accessible here: Pepperstone review and IC Markets.
Compare Axi CFD Fees
|CFD Scenario||AxiTrader||Pepperstone||IC Markets|
|S&P 500 index CFD fee||$1.7||$2||$2.5|
|Europe 50 index CFD fee||$1.2||$1.6||$1.9|
|Forex Scenario||AxiTrader||Pepperstone||IC Markets|
It always comes down to dollars and cents, so you need to know how much CFD brokers make from you and also how do brokers make money. You also ought to keep an eye on the other fees that brokers might charge.
Generally a broker charges you a fee when you perform any trade on their platform. This is called “Trading Fees” and come in forms of:
- Spreads (0.0 pips)
- Financial Rates
- Conversion Fees
Some brokers also charge you “Non-trading fees” such as withdrawal fees and inactivity fees. :
These charges are not 100% related to what currency, share or options you trade.
Unlike many AxiTrader alternatives, this broker charges no inactivity fees, and the minimum deposit is $0. Yes, no minimum deposit. Additionally, You can easily view and copy the publicly available trading strategies from other professional traders from your MT4 account.
When trading with Forex.com, you can use MT4.
Axi Trading Platform: MT 4
AxiTrader trading platform is powered by MetaTrader which is not only available in different languages, but also enables you to fully customise your trading environment, reports, etc.
Is AxitTader a good online broker? You can trade on all three trading platforms: Web based trading platform, Desktop trading software and Mobile Trading App. Please bear in mind that the web trading platform does not allow you to configure price alerts.
MetaTraders‘s UI & UX that AxiTrader trading platform is using is very user-friendly, neat and easy to navigate through, and useful for both professional traders and beginners.
Here is a sneak preview:
All traders from around the world can use it because the default language is set to English, and the following languages are available:
How to Open Trading Account at AxiTrader?
At first let’s have a look at all three types of trading accounts that you can open with AxiTrader because you will go through a very easy, smooth and user-friendly process to open your trading account with AxiTrader. All you need is an email or a social platform login credentials.
Account Types: Depending on the account owner and the fee structure that you prefer, you may open different types of live accounts at AxiTrader:
* Individual Trading Account, which is obvious and owned by you, or any individual who wish to trade with their platform.
* A Joint Account can be opened by a couple or a group of people with the same purpose and responsibilities
* The Corporate Trading Account is owned and operated by legal companies or entities.
When it comes to the fees, you may find the following fee structure to be interesting:
* Standard Accounts charge zero commission fees but comes with higher spreads.
* The Pro Trading Account has lower spreads, something about $7 round trip commission
**If you are a UK client, you can choose to open a spread betting account which is tax-free. Obviously, you can immediately use your demo account for free.
As you can see here, there are nine ways to deposit funds into your trading account. So, if you decide to move forward as a trader and trade with real money, you can use any of these payment methods that is more convenient for you.
Before going through KYC process, please be prepared to provide your passport copy and a proof of residency (something like a utility bill or bank statement).
Most of trading instruments and products are Forex & CFDs. The portfolio is not that comprehensive.
Should I Trade CFD or Forex-CFDs?
AxiTrader’s portfolio has positive and negative points. Although its offering is very limited compared to other top brokers, you need to be deciding whether to acquire or just trade forex and CFDs and find good opportunities. The other positive side is that you can change the default leverage which comes very handy for online traders.
Overall, you must afford to take the high risk of losing your money because the main trading options that you can find in AxiTrader are:
- Stock Index CFD
- Foreign Currency, Forex with 80 currency pairs
- Commodity Contract for Difference
Here is a Trading Advice: When you buy (not using hedging strategies when you open two positions) with no leverage (in trading terms that is leverage equals to one), it actually means that you buy real stocks and you don’t trade CFDs. That’s why Non-leveraged buy positions for equities, ETFs and cryptocurrencies are traded as real assets.
Since it requires only $50 &offers decent educational materials, it might be a good option for beginners too.
Financial Market Research Tools for Currency Traders
We talked about online trading platform, and account opening which is pretty fast and smooth on AxiTrader. It’s good to mention that AxiTrader’s investment protection, especially if you are in Europe, is £85,000 protection on your investment.
When it comes to research, AxiTrader offers news feeds, and share it through its MetaTrader Platform.
It’s also updated on a weekly and some times daily bases on their website.
Decent technical analysis tools (in 21 languages) is at your disposal, so not only you can enjoy the user-friendly UI of the platform, but also you can easily perform technical analysis with up to 31 indicators (including retracement, trend lines and Fibonacci, etc.)
Does Axi offer Fundamental Data? Unfortunately No.
Does Axi offer Trading Ideas? Unfortunately No.
In fact this is a big disadvantage because No trading ideas and fundamental data is offered by AxiTrader platform.
As for education, apart from a lot of trading guides that you can find on our trading blog, AxiTrader is definitely one of the best online brokers for beginners because their tutorial videos are pretty comprehensive and recorded with high quality.
Here are 5 training categories:
If you want to pursue your career and become a professional trader, then you can join the accredited course that AxiTrader offers in partnership with Knightsbridge Trading Academy. The course worth around “$2,750”, but you won’t pay anything when you deposit at least $260.
Conclusion of Axi Review
Is AxiTrader a good online broker? or a forex scam?
Let’s wrap things up. Overall, AxiTrader is a safe and regulated broker. It’s known as one of top 10 no deposit brokers and since they charge you very low fees for forex trading, you can even rank them among other best low fee brokers in trading and finance industry.
When it comes to online trading, customer care becomes very important to traders.
AxiTrader’s support team respond fast via email, phone calls, and also available to talk via live chat, but they have yet to establish a 24/7 support process (So No Weekends).
A big plus point is their 80 currency pair and low cost trading opportunities; This makes AxiTrader one of the best no deposit brokers for beginners.
AxiTrader’s Education & tutorials are very good. Apart from demo account, You can easily begin trading with zero minimum deposit.
It’s even easier to perform technical analysis. On the contrary, no Fundamental data or trading ideas are available.
Yes, AxiTrader is a regulated broker in Australia and Emirate: [Dubai Financial Services Authority (DFSA) and Australia authority the Securities and Investments Commission (ASIC).]
Follow these steps to learn how to open trading account:
1. Get ready with your email address
2. Select the country of residency.
3. Provide demographic data
4. Choose your preferred online trading platform
5. Select your account type & base currency.
6. Explain your trading experience and provide employment history
7. Provide identity and residency proof for activation.
The minimum deposit is $0.
- Low Non-Trading fees
- Low Forex Fees
- Low CFD Fees
- No Withdrawal Fees
- No minimum deposit