AXI Review 2024 Fees, Platforms, Apps, Pros & Cons

Users can trade real-time Forex and CFD quotes, and all trade orders (including pending orders) are allowed. The broker has since grown into a multinational retail broker with offices in the United Kingdom, Australia, South Africa, and Saint axi forex broker Vincent and the Grenadines. It has bagged several industry awards for providing satisfactory trading services to over 60,000 loyal clients in 100 countries. In 2020 alone (FY20), the broker recorded over $2.5 trillion worth of trades.

Bonuses and Promotions

• The account comes with a lower round trip commission than the pro account at $3.5, and while it shares the same lot size as the other live trading accounts, its maximum lot per clip is 200 lots.
• Overall, Axi can be summarised as a trustworthy Forex Broker with a robust regulatory framework and a highly competitive starting spread.
• Traders have access to two account types, the commission-free Standard and the commission-based Pro.
• Filippo’s goal with InvestinGoal is to bring clarity to the world of providers and financial product offerings.
• This is through the extremely user-friendly AxiOne trading platform which is connected to more than 20 liquidity providers for the best depth and fastest order execution.

There are few brokers regulated in both the UK and Australia, both of which represent some of the more demanding compliance jurisdictions in the world, but Axi is one of them. Accordingly, residents in relevant geographies can anticipate services that are airtight in terms of safety. Additionally, in tandem with oversight from the Dubai DFSA, Axi ensures that traders from 150 countries can access the trading platform in a secure, compliant manner. Axi provides access to many markets, featuring over 50 financial instruments to trade as CFDs. They are a top choice for low spreads, fast execution, trading platform choice, and no minimum deposit.

Desktop platforms

Apart from Forex trading, Axi allows traders to buy and sell over 150 financial instruments across different asset classes. But, 130 financial instruments cannot compare with what its major competitors, such as IG or IC Markets, offer. Also, we found that Axi has a bit limited diversity of asset classes, as it does not offer CFDs on bonds, futures, options, or interest rates.

Deposit and Withdrawal

Islamic accounts, also known as swap-free accounts, are fully compliant with Shariah law as they do not charge swap fees. If you are interested or in need of this account type, then you can always check out our full article on the best swap free Islamic forex brokers to learn more. To further enhance your protection, segregated accounts are always used. This means that if the broker ever ran into bankruptcy or insolvency, your money would always be safe. This policy is bolstered by the availability of ICF insurance for traders in the UK.

Axi Islamic Account

There is no minimum deposit requirement with the Standard or Pro accounts, but clients need a $25,000 deposit to get started with the Elite solution. The UK Axi operation is regulated by the FCA, with clients protected by the Financial Services Compensation Scheme up to £85,000. Both the FCA and ASIC are highly regarded financial regulators, which means that traders can trust the integrity of the AxiTrader group.

On the other hand, when it comes to pretty much any other asset class, they’re well below their competition. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The Axi website and trading resources are easy to navigate and function well.

Axi fees are quite small, making them affordable for almost any trader. By subscribing to an MT4 Forex VPS hosting service for round-the-clock access, you may improve dependability and make sure that your trades are never halted. To withdraw funds from your trading account, these are the relevant steps. Traders can access articles with expert marketing tips and insights, trading updates and signals, and their personal trading activity history through the platform’s terminal window. Now, let’s begin our more detailed review of the Axi trading broker and its facets. The previously mentioned facts combined with our research on Axi’s user opinions and online reviews still grants them a safe broker status.

Axi (formerly AxiTrader) is a multi-regulated online broker created by traders for traders. They give you industry leading trading conditions on a vast range of different markets such as forex, stocks, cryptos and commodities. You can trade with tight spreads, low commission fees and fast execution speeds at the best prices. I found them to have advanced yet easy to use trading platforms for users of all experience levels.

One of Axi’s VPS partners is ForexVPS, which offers state-of-the-art SSD drives located in New York. For the Basic VPS edition, Axi will cover up to $34.99 of the monthly fee if you trade more than 20 lots in a calendar month. Another VPS option is MetaTrader VPS, which is offered by MetaQuotes at $10.00 per month. These are spread across the major, minor and exotic currency pairs. Trading Forex with Axi gives you several advantages, including security and negative balance protection. A $7.0 commission for a 1 Lot trade is similar to what other brokers such as IC Markets will charge, but it is not the lowest in the industry.

For example, the average spread for EUR/USD with a standard account is 1.3 (0.2 with a pro account). The average spread for GBP/USD is 1.5 (0.6 with a pro account) and for AUD/USD, it is 1.4 (0.5 with a pro account). Axi provides traders with 50 currency pairs, six cryptocurrency pairs, 20 commodities, and 31 index CFDs. Equity CFDs are notably https://forexarena.net/ missing, which is a negative in my book as I trade them, but Forex traders have a good selection. Axi offers some of the best swap rates industry-wide, something I urge traders to consider who keep positions open overnight, as it makes a notable difference. Axi does charge an inactivity fee, which adds to the excellent cost structure.

You can trade cryptocurrency CFDs online with Axi, provided that it is allowed in your country of residence. Traders can get the advantages of Bitcoin’s high volatility without the need for a digital wallet, no requirement to purchase physical Bitcoins and without the risk of digital currency theft. Whether you are brand new to trading or an experienced pro, you’ll find a community of likeminded traders with valuable knowledge to share and help you trade your edge. The volatility analysis gives information related to the volatility of markets at any given time with an adjustable risk parameter to identify instruments that meet a certain volatility criteria. Trades from signal providers are placed automatically within your account and can be stopped at any time.

That said, here are the steps for opening an account on the Axi trading platform. The Axi trading platform delivers its desktop experience through the MetaTrader 4 platform from MetaQuotes Software Corporation. The MT4 platform comes in basic and MT4 Webtrader forms, but we will use the MT4, especially as it integrates very nicely with the Axi platform itself.

The online trading broker offers traders access to various financial assets using innovative trading platforms. It offers some of the industry’s leading trading conditions, such as ultra-low spreads from 0.0 pips, high liquidity, flexible leverage, and more. This also extends to fees and spreads, with no fees on money transfers, and spreads across all Axi account types representing some of the most competitive in the industry. For their part, its clients are just as satisfied with the more simple and transparent trading environment. For advanced traders, the Axi platform offers a professional account with a suite of advanced features, including MT4 VPS hosting and signal providers. This type of account comes with a round trip commission of $7, spreads from 0.0 pips, no setup fees, and a minimum lot size of 0.01 lots.

It offers generous funding up to $1 million USD as part of a structured pathway to help traders have opportunities to succeed. There is no minimum deposit at Axi, resulting in applicable requirements based on payment processors. Autochartist provides the bulk of research content at Axi, but the Axi blog also features a weekly market review. It is well written and features charts with easy-to-understand trading ideas. You simply complete the registration form and verify your email address. You will then need to upload proof of identification and address for KYC purposes.

The only requirements are name, country, e-mail, phone number, and application type, which took me less than 30 seconds to complete. New accounts require verification, following well-established industry practices. A copy of the ID and one proof of residency documents generally satisfies this step and completes KYC/AML stipulations. Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-based Axi Pro account. Keep in mind that although they do not charge any funding fees, there may be some third-party fees when using certain payment methods. Bank transfers may take a few business days to clear whereas card payments and e-Wallets can be instant.