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Axi Review

Minimum Deposit: $1 VISIT BROKER

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Axi is a reputable award-winning broker known for its industry-leading trading products and services. The broker provides a highly competitive trading environment with user-friendly trading platforms and a diversified portfolio of trading instruments across a variety of asset classes.

Investing Brokers

March 7, 2023

Axi or AxiTrader is a forex and CFD broker which was founded in 2007 in Australia. ASIC, FCA and DFSA authorise and regulate the broker that makes it stand among the top tier brokers of its class. The award-winning broker offers a reasonable number of financial instruments across different markets to its clients. The broker provides CFDs on forex, commodities, indices and crypto instruments for you to trade online in a competitive trading environment. With a seamless account opening process, the broker offers the most popular MT4 trading platform across web, desktop and mobile devices. There is the option of a demo account to learn, whilst the broker also provides a variety of educational resources to help educate beginners so that they can make informed decisions. The broker has no deposit or withdrawal fees, tight spreads from just 0.0 pips and competitive commissions, all which make Axi stand out among its competitors.

Axi has always been careful about its customers by providing maximum benefits at minimal costs. The broker offers cheap commission fees, tight spreads, and quick trade order execution. These factors can all help you save in the long run and make sure you have the best conditions for your trading strategies to thrive. You can benefit from a variety of simple deposit and withdrawal methods for convenient account funding. They have a decent selection of useful trading tools, educational resources, and 24/5 customer support. Axi forex and CFD broker is ideal for experienced traders who can rely on their professional skills whilst also having everything in place that a beginner needs to succeed. The broker offers a quick fully digital account opening process that should only take a few minutes to complete. There is even the option of a free demo account to give them a try without making a financial commitment. Despite the positives, they could expand on the instruments that are offered and also make available some additional platforms and tools for more comprehensive market analysis for active traders who need it.

Axi offers a rather limited selection of around 130 instruments to trade in total. The broker offers a significant number of forex instruments to trade so if that is what you are looking for, then there should be more than enough. However, I found them to have a limited range of commodities, indices, and cryptos offered to its clients, limiting traders’ options. The broker also does not offer bonds, options, stocks and ETFs to trade, which is a drawback. Despite this, they do offer social trading to somewhat compensate for this drawback. If you are looking to trade markets other than forex, then IG have an excellent range of over 18,000 financial instruments for you to trade with industry leading trading conditions.

Axi Instruments Summary

Commission and Spread Fees

Axi has some of the tightest spreads offered in the industry. Traders can kick start their trading with zero spreads and fast execution speeds using the Axi pro account. The broker charges very low forex and CFD fees overall. The standard account features no minimum deposit requirement, flexible spreads starting at only 0.4 pips, and no commission fees. Variable spreads start at just 0.0 pips on the pro account, and there is a $3.5 commission on one side while trading a standard lot. If you require the tightest spreads, this account may be the best option. The broker pays cash rebates under a partner or referral program.

Axi does provide Sharia-compliant Islamic accounts. This account, which has no swap fees or interest payments, is perfect for people who don’t want to earn or pay interest owing to religious beliefs. If you are a Muslim, simply send Axi’s customer support a request for an Islamic account, and they will switch your account over for you.

Overall, I found that Axi has some of the lowest overall trading fees available to retail traders. If you want to save a little on commission and still get 0 pip spreads, you can take a look at RoboForex as an alternative option. They also have an impressive selection of over 12,000 financial instruments to trade.

Deposit and Withdrawal Fees

The broker has no fees for deposits or withdrawals. Funds can be deposited via wire transfers, credit/debit cards, and electronic wallets. However, withdrawals can only be made through wire transfers and e-wallets. Traders can choose from 11 account base currencies, a considerable advantage for traders from all parts of the world. This is because traders won’t have to pay a conversion fee if they fund their trading account in the same currency as their bank account or local currency. Also, traders can trade in the same currency as their trading account base currency. There is only one drawback regarding deposits and withdrawals. That is, the broker only offers withdrawal via wire transfers or some electronic wallets. Deposit and withdrawal durations may vary depending on the payment method used.

Inactivity Fees

Axi has a huge advantage over its competitors in terms of inactivity fees as the broker does not charge any inactivity fees from the traders’ accounts.  

The broker lags from its competitors in the industry in terms of providing multiple options of trading platforms. Axi only offers the most popular MT4 trading platform on web, desktop and mobile applications. Trading with MetaTrader 4 is free of cost, and traders can easily download the trading platform on desktop or mobile devices. Social trading and copy trading are offered with the broker. If you are looking for a better selection in terms of platforms, Pepperstone provide MT4, MT5 and cTrader. These are 3 of the best trading platforms you will find.

Axi WebTrader (MT4)

Axi offers MT4 as its WebTrader. Traders can access their trading accounts with any browser and device with an internet connection. I like how the web platform can be accessed from anywhere without needing to install any software and it is always up to date. The interface for this trading platform is a bit outdated, but this is a well-known trading platform, so even beginner traders can get a grip on it in no time. The MT4 web trading platform provides simplicity for a better overall trading experience. The broker’s WebTrader contains the following features:

Desktop Trading Platform (MT4)

Axi provides the most recognised MetaTrader 4 trading platform’s desktop application. Traders can enjoy seamless manual and automated trading via expert advisors on the MT4 trading platform. Moreover, the broker offers support of more than 25 languages on its MT4. I think this platform is perfect for anyone who wants to conduct detailed chart analysis to spot trade opportunities. It makes everything from market analysis to placing and managing your positions a breeze. Here are the features of the desktop MT4 trading platform:

Mobile Trading Platform (MT4)

The broker also offers the most robust MetaTrader 4 trading platform for mobile devices, with support for both Android and iOS. Traders no longer need a big device like a PC to have complete access to their trading accounts. In a matter of seconds, trades can be opened, monitored, and closed. You can do research and technical analysis using several technical indicators and drawing tools implemented within the intuitive trading app. However, it is limited compared to the desktop platform in some areas, such as automated trading capabilities. Here are the cool features of mobile MT4:

VPS

Axi customers can use external third-party providers to subscribe to an MT4 Forex VPS hosting service, ensuring that trades are less likely to be affected by technological or connection errors. I think a VPS is an excellent tool for running automated systems 24/7 remotely. It can save you from needing your own computer switched on all of the time. You can get a free VPS from some other brokers including Blueberry Markets. The broker offers the following VPS services to its customers:

PsyQuation

PsyQuation is one of the most advanced retail trading software solutions available. It is built with Artificial Intelligence and Machine Learning. It analyses your trading style and performance in real-time, comparing it to the most recent data to offer intraday charting and performance effect analysis.

Trading Signals

Every trader should be able to pursue their own trading strategy. As a result, the broker lets traders use third-party Forex Trading Signal technologies on its MT4 platform. This can be a good solution for those of you who do not have the time required to trade online. However, clients should be advised that hypothetical performance and real trading outcomes might differ significantly when utilising third-party plugins and methods. Hypothetical success cannot be guaranteed, and it frequently ignores financial risk and the capacity to stick to a trading plan despite losses.

Axi Platforms Summary

Traders can utilise the MetaTrader 4 platform’s research tools whilst there are also alternate trading tools provided including the brilliant Autochartist and an important economic calendar. The broker offers trading education via multiple means such as trading courses, platform tutorials, videos, ebooks, essential news, market analysis, and expert commentary. The broker provides a free trading academy and a blog to its customers to keep up with the market trends and learn to trade. Traders can also learn to trade with a free demo account. It is safe to say that Axi have things covered when it comes to market research and education to help you get the most out of your trading.

Axi Academy

Axi academy offers trading education developed by traders for traders and covers various proven trading strategies to help its customers achieve their goals. Traders can choose from available free courses and get a grip on it with its learning material. Axi Academy courses can be accessed using a mobile device or computer from anywhere at any time. Professional traders designed these free interactive online trading courses, which contain textual content, videos, and quizzes, offering traders a variety of learning options.

Axi Blog

The broker has its own blog. Free market analysis and trading education are provided and updated on the blog on a regular basis. Trading education provided by the broker contains information regarding forex, cryptocurrencies and CFDs. Axi Blog contains the following information for its customers:

Autochartist

Axi offers the state-of-the-art trading tool Autochartist. I think this is a fantastic trading tools that provides technical analysis on MT4 with a plugin. It is ideal for automatically scanning your favourite instruments to find potential trade opportunities based on your preferences. It can alert you when there is a setup which could save you from many hours of gazing away at charts. Traders can benefit from Autochartist with these salient features:

Axi Research and Education Summary

Axi offers multiple payment methods for deposits and withdrawals to its customers. Deposits can be made from wire transfers, debit/credit cards and multiple electronic wallet options available. However, the broker only allows withdrawals via wire transfer and some electronic wallets, which is a downside. Deposits and withdrawals can take anywhere from instant to 3-7 business days, depending on the payment method used at the time. There are no costs or fees for deposits and withdrawals by Axi, which gives it a massive advantage over some of its competitors. The broker does not accept any third-party payments. You need to make sure that any deposits to your trading account are made from an account in your name.

Axi Funding Summary

Axi is a licensed broker, which means it must adhere to strict laws and standards in order to safeguard its customers. Please bear in mind that while different authorities govern the broker in different regions, each market has its own set of restrictions. The broker is authorised and regulated by UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Dubai Financial Services Authority (DFSA), the Financial Service Authority of St. Vincent and the Grenadines (FSA). The broker’s safety is enhanced by the fact that a top-tier financial body regulates it.

Axi Regulation Summary

Axi Safety

Top tier regulatory authorities like ASIC, FCA, FSA and DFSA regulate Axi forex and CFD broker. However, the broker is not yet listed and traded on any stock exchange in the world and does not disclose its financial statements in public. Furthermore, the broker’s licence to provide its services in New Zealand was suspended in 2019. However, the retail customers from the UK and EU under the regulation of FCA are provided negative balance protection to some extent. If regulation is important to you, City Index are also a very well-regulated broker worth consideration.

Axi has worldwide, multilingual customer support to assist its clients 24/5. Customer support is available through live online chat, phone, and email. Furthermore, the clients are assigned personal account managers for a more personalised experience. There is always someone from the support staff available with offices in Sydney, London, Dubai, and Chisinau to answer its customer’s general or technical issues. Customer support is available in 12 different countries and six different languages. From my research, clients have mixed experiences with Axi customer support. Some might get a quick response and exact answer to their query, and others would not get a desired response. On top of that, customer support is only available 24/5, so some clients might not be able to get their problems resolved over weekends. If customer support was available 24/7 as it is at Plus500, that would be great.

Axi is governed by a number of regulatory authorities worldwide, including the FCA in the United Kingdom and ASIC in Australia. On the bright side, forex commissions are cheap, and there is no inactivity fee. Account opening is simple and completely digital, with no minimum deposit requirement, which is fantastic. However, there are certain disadvantages to using AxiTrader. It only offers FX and CFDs, and its research tools lack suggestions and basic data. Furthermore, customer service is only available five days a week. You can open an account with Axi and try them if you wish, as they require minimal trading costs with no deposit, withdrawal, or inactivity fees. There is also the option of a free demo trading account. If you are looking for a forex broker, they are certainly one to consider but for other asset classes, you may feel slightly restricted.

Axi Review

Minimum Deposit: $1

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