In this Axi review, we’ll look at their features, trading platforms, fees, and how to open an account. This will give you the best overview of the axis trading platform and answer any questions. Here is a comparison table that explains the pros and cons.
• No withdrawal Fees
• No deposit fees
• Limited research tools
• Seamless account opening
• Deposit via Credit or debit card available
• Price alerts
• Usefulearch Search functionality
• Only forex and CFD Assets
• $10 Inactivity Fees
• No 2 Steps Authentication
• No Touch/Face ID login
• No order confirmation feature
Axi Broker Pros and Cons
AxiCorp, now known as Axi and previously branded as AxiTrader, is an Australia Based online trading company that offers various financial instruments including Forex, Indices, Commodities and cryptocurrencies.
It was founded in 2007 and is regulated by multiple authorities worldwide. The trading platform also offers negative balance protection for retail traders in the European Union, although this does not apply to professional clients. Traders can expect low forex fees and free deposit and withdrawal. In addition, the trading platform does not require a minimum deposit. Overall, Axi offers a solid trading experience.
The customer support team at Axi is available 24 hours a day, five days a week. However, it is possible to wait long for a response. Traders with a minimum of $1,000 can access NextGen, an advanced Sentiment Indicator. They can also use the Markets Blog. Axi also offers an extensive FAQ section and a live chat facility. Overall, Axi provides a good experience for forex traders.
Another plus for Axi is its MT4 trading platform. The trading platform has been the most popular for decades and is available on virtually any device. It supports over 50 forex indicators and charting tools and is easy to use. It is compatible with both Windows and Mac devices. Axi also provides an MT4 MAM module. For advanced traders, it offers a set of advanced trading features.
Axi Traders Fees
Most other brokers charge fees for deposits, but Axi doesn’t. Traders can deposit funds using credit cards or e-wallets. While most traders do not deposit $50,000 a month, there is a risk that conversion fees will occur if you deposit in a different currency.
Unlike many trading brokers Axi does not charge a withdrawal fee, but it does charge a small administration fee when you withdraw less than $50.
Axi trading brokers forex commissions start from US Dollar 7 per round trip or $3.5 per lot. You can choose between trading in AUD, EUR, GBP, HKD, JPY, SGD, or USD. Traders Union analysts studied the current conditions of Axi traders and determined the commission rates based on spread forex brokers and withdrawal fees. It is important to note that commissions differ depending on the financial instrument and account type.
The commissions and fees AxiTrader charges for S&P 500 CFD, Europe 50 CFD, and EURUSD are built into the spreads.
- S&P 500 CFD fee is low, and around 0.6 average spread.
- 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 look closely 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 seven days, and only selling 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
|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|
Forex Brokers Fees
In other forex broker reviews, we have explained how much CFD brokers make from you and also written another article about how brokers make money. It would help if you kept an eye on the other fees forex brokers might charge.
Generally, a broker charges you a fee when you perform any trade on their platform. This is called “Trading Fees” and comes in the forms of:
- Spreads (0.0 pips)
- Financial Rates
- Conversion Fees
Some brokers also charge you “Non-trading fees,” such as withdrawal 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. Be cautious that it’s risky and even experienced accounts lose money.
Axi Trading platform
Axi’s advanced data analytics plugin, PsyQuation, helps retail traders analyze their trading style and can help them avoid mistakes. The PsyQuation leaderboard helps you identify successful traders and highlights the mistakes that can be avoided. It is highly customizable, too. For example, you can use the mini manager to manage multiple positions and complex order types. Another helpful feature is forex news, which gives you all the latest forex market information.
Mobile Trading App
The Axi Trader platform offers MT4 NextGen compatibility, which complements MT4 trading. It uses the MT4 NexGen platform, which adds functionality and enables traders to trade from mobile devices. The Axi Trader app is user-friendly, offering full functionality across various platforms such as desktop, mobile, and tablet computers, enabling a seamless user experience.
Web Trading Platform
AxiTrader trading platform is powered by MetaTrader, which is available in different languages and enables you to customize your trading environment, reports, etc., fully. You can trade on all three trading platforms: Web-based trading platform, Desktop trading software, and Mobile Trading App. Please remember that the web trading platform does not allow you to configure price alerts.
MetaTrader’s UI & UX that AxiTrader trading platform uses is user-friendly, neat, easy to navigate, and valuable for both professional traders and beginners. Here is a sneak preview:
How to open an account on Axi?
Axi is a Forex broker with a low margin requirement. You can trade CFDs on stocks, indices, cryptocurrencies, and ETFs. The company is regulated by the Financial Services Authority of Dubai and carries a retail investors accounts endorsement. While it does not have a public listed license to hold client money or assets, you can trust its customer service and trading platform. You can open an account by following these steps.
Forex Trading Account Type
Axi offers three different account types:
- Individual Trading Account, which is best for individuals.
- 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.
The account fee structure is as follows:
- Standard Accounts charge zero commission fees but come with higher spreads.
- The Pro Trading Account has lower spreads: A$7 round trip commission.
If you are not sure whether to open an account with Axi, don’t worry. The process is fast and hassle-free, and the company has a great selection of trading resources. Its free trading tools include an FX economic calendar, a notice of market holidays, and a dividend forecast schedule. The website provides a comprehensive list of available assets. If you’re looking for an alternative broker, a more reputable online broker is AvaTrade.
First, sign up for a Demo Account. The demo account is active for 30 days before you decide to convert it to a live account. You will be prompted to input your email and phone number. This email will act as your login ID and the MT4 WebTrader link. If you are not a UK resident, you can open an account in one of the EU countries. Afterward, you’ll need to verify your identity.
How to Open a Demo Account
Axi has many flexible demo account options. While these demo accounts can be a bit limited, they are perfect for testing different trading strategies and applications. The demo account allows you to trade with a base currency and leverage before you decide to invest real money. The demo accounts also allow you to try out the various trading instruments on the platform. This way, you can determine if Axi is right for you.
Axi minimum deposit
Axi doesn’t have a minimum deposit, and you can open an Elite Account with any primary currency. If you’re a foreign trader, you can open a multi-currency digital bank account with the company to avoid conversion fees. You can open one of these accounts within minutes and then upload your existing currency. You can also exchange your money in-app and deposit the brokerage account for free.
Deposit and withdrawal
As a registered broker, Axi offers several benefits, including various payment methods, such as bank transfers and credit cards. Customers can also choose to use e-wallet services like Skrill and Neteller.
Depositing and withdrawing funds is easy with Axi broker, as it accepts many different deposit and withdrawal methods. Deposits are generally instant, but bank transfers and BPay withdrawals can take up to three business days. Axi does not charge trading costs axi to use these deposit and withdrawal methods.
To withdraw funds, you’ll need to provide your bank account details. This information can be updated in the client portal. You can also add a Mastercard or Visa credit card. Just be sure that the card is in your name. Otherwise, AXI will be unable to withdraw the money from your account.
Axi’s investment protection, especially if you are in Europe, is £85,000 protection on your investment.
Axi offers 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 are more convenient for you. Before going through the KYC process, please be prepared to provide your passport copy and proof of residency (like a utility bill or bank statement).
Axi is a regulated financial services company with tier-1 regulators, including the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority, and the Financial Services Authority of Saint Vincent and the Grenadines.
|Online Brokers||Trading Platform||Open Account|
||Trading App, MT4, MT5, Web Trader, AvaOptions||Open Account|
|2006||20% Bonus||Trading App, MT4, MT5, Web Trader, AvaOptions|
||MetaTrader 4||Open Account|
|2010||Spreads from $0||ASIC|
||MT4, MT5, Web Trader||Open Account|
|2010||Best in UK||MT4, MT5, Web Trader - CYSEC, BAFIN, CMA, SCB, DFSA, ASIC, FCA|
||Iress, MetaTrader||Open Account|
|2005||0.0 Pips||ASIC, CySEC|
||Trading App, MT4, MT5, Web Trader, Copy Trader||Open Account|
|2007||Best for Copy Trading||NFA, CySEC, ASIC, CFTC, MiFID, FCA|
||MT4, MT5, Web Trader||Open Account|
|1999||$0 Rollover Fees||FCA, ASIC, SFC, CONSOB, BaFin, ACP|
Trading Instruments & offers
Axitrader’s portfolio has positive and negative points. Although its offerings are minimal compared to other top brokers, you must decide whether to acquire or trade forex and CFDs and find good opportunities.
Overall, it would help if you afforded to take the high risk of your account losing 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 some Trading Advice: When you buy (not using hedging strategies when you open two positions) with no leverage forex brokers (in trading terms, that is leverage equals one), it means that you buy real stocks and don’t trade CFDs. Non-leveraged buy positions for equities, ETFs, and cryptocurrencies are sold as real assets.
Regarding research, AxiTrader offers news feeds and shares them through its MetaTrader Platform. It’s also updated on a weekly and sometimes daily bases on their website.
Proper technical analysis tools (in 21 languages) are at your disposal, so you can enjoy the platform’s user-friendly UI and efficiently perform technical analysis with up to 31 indicators (including retracement, trend lines, Fibonacci, etc.)
As for education, you can find plenty of personal finance and trading articles on the trading hub; still, Axi’s educational materials are decent, and their tutorial videos are not only pretty comprehensive but also recorded with high quality, making it one of the best forex brokers for traders with no experience.
Here are five forex training categories on Axi broker’s site:
If you want to pursue your career and become a professional trader, you can join the accredited course AxiTrader offers in partnership with Knightsbridge Trading Academy. The course is worth around “$2,750”, but you won’t pay anything when you deposit at least $260.
Axi Review Summary
Top-tier financial authorities regulate the Axi trading platform, and it supports two independent sets of data and address channels. The AXI trading platform also provides many useful tools for analysis and decision-making. Among them are the total value of all trades, daily average value, and a proprietary algorithm.
Axi’s support team is available round the clock. They can be contacted via phone, email, or online chat. Some of them even offer live chat. Axi has a wealth of educational resources, and the company has a closed Facebook group with market analysts.
Regarding online trading, customer care has become very important to currency traders.
AxiTrader’s support team responds fast via email and phone calls; It is 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 excellent. Apart from a demo account, You can quickly begin trading with a zero minimum deposit. It’s even easier to perform technical analysis. On the contrary, no Fundamental data or trading ideas are available.
Is Axi Scam or Regulated?
AxiTrader is among regulated Australia forex brokers and brokers in UAE which is governed by Dubai Financial Services Authority (DFSA), and Australia authority the Securities and Investments Commission (ASIC).
Is Axi Right For You?
The Financiayour account type regulates Axi means that they are responsible for the safety and security of their customers’ money. They also maintain several security measures, including a system that looks for bugs.
You can see your portfolio and search for specific stocks regardless of your account type. Axi’s website allows you to view financial details of the companies you’re invested in, such as the share price and other financial information.
What are Axi Alternatives
Axi online broker’s Alternatives are eToro, AvaTrade, Fusion Markets, and XM because they offer low-fees forex platforms.
Is Axi good for beginners?
Axi is one of the most well-known and trusted brokers in the world. This broker has a stellar reputation with its clients and has grown from a two-person operation in 2007 to a Global Top 10 brokerage. To ensure the safety of your money, Axi has invested heavily in cybersecurity and offers Automatic Investor Protection and Insurance for up to $1 million. They also double-check credit card names for deposits and withdrawals and operate a strict client qualification policy for Australian residents.
Beginners should consider using Axi since it offers a demo account replicating real trading with virtual funds. You can open a demo account for 30 days to try out the platform and learn the basics. Axi offers classes in over 24 languages, so beginners can try out the software before making a deposit. The demo account is free and is held separately from the live account.
Even though AxiTrader is not publicly listed on any stock exchange, you will quickly come across their name whenever you search for the best currency broker for beginners. To trade with Axi, you don’t have to deposit a penny, so trading with a regulated zero minimum deposit broker is great