AxiTrader Review |
|
📅 Year founded |
2007 |
📈 Multiple top-tier regulation |
No |
📍 Headquarters |
Kingstown, Saint Vincent and the Grenadines |
🌍 Country of regulation |
Saint Vincent and the Grenadines |
✅ Regulators |
FSA |
📈 Execution Type |
Market Execution |
💰 Minimum Deposit |
None |
🛡️ Negative Balance Protection |
No |
📉 Trading Platforms |
MetaTrader4 / Axi Trading Platform / Copy Trading App |
☪ Islamic account |
Yes |
📉 Trading Instruments |
Forex / Indices / Shares / Commodities / IPOs / Cryptocurrencies |
📱 Mobile trading |
iOS / Android / Windows |
💳 Payment Types Accepted |
Debit and Credit Card / Bank Wire Transfer / Skrill / Neteller / Cryptocurrencies |
🎮 Demo Account |
Yes |
ⓒ Copy Trading |
Yes |
🎁 Bonus Offer |
None |
💰 Account Currencies |
USD / EUR / GBP / AUD / CAD / CHF / HKD / JPY / NZD / SGD |
📈 Minimum Trade |
0.01 Lots |
📈 Account Types |
PAMM / MAM / ECN / STP |
📈 Margin Trading |
Yes |
📈 Trading fees |
Low |
📈 Inactivity fee |
After 12 consecutive months, 10 units of account base currency |
💰 Withdrawal fee |
None |
☎ Customer Support |
24/5 |
💰 Max. Leverage |
500:1 |
✔️ Hedging Allowed |
Yes |
✔️ Scalping Allowed |
Yes |
💰 Commission |
Zero on Standard / $7 USD on Pro / $3.5 USD on Elite |
💰 Spreads |
From 0.0 pips |
💰 Leverage |
Flexible |
💰 Currency Pairs (Total Forex pairs) |
70 + |
🔢 Number of clients |
60 000 + |
🥇 Instruments Offered |
500 + |
📙 Education |
eBooks / Axi Academy / MT4 Video Tutorials |
WHAT IS AXI?
Axi, previously known as Axi Trader, established in 2007 and headquartered in Saint Vincent and the Grenadines, is a prominent online forex and CFD broker that caters to clients around the world.
The broker is regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, ensuring adherence to industry standards and providing a secure trading environment for its users.
Originally launched with a strong focus on providing forex trading solutions, Axi has since expanded its offerings to include a variety of financial instruments such as commodities, indices and CFDs.
This expansion has been part of its broader strategy to cater to a diverse range of trading needs and preferences, thereby attracting both novice and experienced traders.
In addition to the regulatory framework in place at Axi, the broker prides itself on utilising advanced trading technology and providing robust customer support.
These features are designed to enhance the trading experience by offering reliable and efficient trading platforms, comprehensive market analysis tools and responsive customer service.
INTRODUCTION
At Axi, traders have access to a wide range of trading instruments including forex, indices, shares, commodities, initial public offerings (IPOs) and cryptocurrencies.
This broad range of trading options enables traders to capitalise on different market dynamics and manage their investment risks more effectively.
One of the unique features provided by Axi is its innovative Axi Select program. This initiative is tailored to identify and nurture trading talent, offering promising traders the support and resources they need to progress in their careers.
The program includes financial backing, advanced trading tools and access to industry experts. This support system is designed to help traders refine their strategies, expand their market knowledge and enhance their trading skills.
Furthermore, Axi is committed to providing its clients with a user-friendly trading environment by providing access to advanced trading platforms that are equipped with powerful tools for market analysis, trade execution and risk management.
The broker also emphasises the importance of education and informed trading, offering an extensive suite of educational resources that cater to both beginners and experienced traders.
Axi’s broad market access combined with its commitment to trader development through programs like Axi Select, makes the broker an attractive choice for individuals looking to explore online trading.
Whatever a trader’s needs and aspirations, Axi provides the necessary tools and support to facilitate their trading journey.
PROS & CONS
PROS
- Wide range of trading instruments with over 500 on offer.
- Advanced trading platforms such as MT4 and Axi Trading Platform.
- Competitive spreads and low fees.
- Comprehensive educational and research tools.
- Provision of the Axi Select program.
- Access to IPOs.
CONS
- Only regulated by the FSA, in one jurisdiction.
- No negative balance protection.
TRADING INSTRUMENTS
Axi provides a comprehensive range of trading instruments, catering to a wide array of financial interests and strategies. This versatility makes Axi a go-to broker for traders looking to explore various markets and asset classes.
Forex
Forex trading is a cornerstone of Axi’s offerings, with over 70 currency pairs available, including major pairs, minor pairs and exotic pairs. This extensive selection allows traders to take advantage of global currency fluctuations and different economic conditions.
At Axi, traders are able to trade forex pairs with a tight spread, from 0.0 pips at very low commission charges.
Indices
For those interested in broader market trends rather than individual stocks, Axi offers the ability to trade on global indices. This includes major indices like the S&P 500, Dow Jones Industrial Average and other significant markets across Europe and Asia.
Traders are able to access over 30 indices with this broker, representing one of the largest index offerings available.
Shares
Traders at Axi can also engage in share trading, which includes a wide array of stocks from major global exchanges. This provides an opportunity to profit from the performance of specific companies and industries, offering more targeted investment strategies compared to indices.
With Axi, traders are able to access over 100 stock choices, with leverage of up to 20:1 available.
Commodities
Axi offers trading in a variety of commodities, including precious metals like gold and silver, energy commodities such as oil and natural gas, as well as soft commodities like coffee and sugar.
The broker provides numerous options for commodity trading gold against AUD and CHF, a feature which is not common with other brokers.
Additionally, traders can access leverage of up to 200:1, while enjoying low spreads and no commissions.
IPOs
A unique aspect of Axi’s offerings is the ability to participate in Initial Public Offerings (IPOs). This allows traders to invest in a company’s shares at the time of their market debut, potentially capitalising on the early stages of a company’s public lifecycle.
Companies such as Discord, Kraken and Klarna are available to be traded as their IPOs are coming up shortly.
The availability of IPOs is truly a unique and exciting feature of this broker.
Cryptocurrencies
In response to the growing demand for digital assets, Axi has also included cryptocurrencies in its trading instruments. Traders can engage with popular cryptocurrencies like Bitcoin, Ethereum and others, benefiting from the high volatility and rapid price movements typical of these markets.
Axi provides cryptocurrency trading with a high leverage of up to 200:1 being available to traders. Additionally, trading with the broker does not require traders to have a digital wallet when trading cryptocurrencies.
TRADING PLATFORMS
Axi offers a selection of trading platforms designed to meet the diverse needs of its clients, from beginners to experienced traders. Each platform is equipped with a range of tools and features to facilitate efficient trading and analysis.
MetaTrader4 (MT4)
MetaTrader4 (MT4) remains one of the most popular trading platforms globally due to its robust functionality, user-friendly interface and extensive customisation options. Axi provides MT4 as a key platform, which is highly favoured for forex trading.
It features advanced charting tools, a large number of technical indicators and automated trading capabilities through Expert Advisors (EAs). Traders can modify and enhance their trading environment with custom scripts and indicators, making MT4 extremely versatile for strategic trading.
Axi Trading Platform
In addition to MT4, Axi has developed its own proprietary trading platform to cater to traders looking for a more tailored trading experience. The Axi Trading Platform is provided in the form of a mobile application, with the goal of providing traders an easy-to-use and convenient trading experience.
The Axi Trading Platform is designed with a focus on user experience, featuring an intuitive layout and enhanced usability. It integrates seamlessly with Axi’s backend systems, providing traders with fast execution speeds and real-time data.
This platform is particularly attractive for those who value a straightforward, efficient trading process without the complexity of additional features they may not use.
Axi Copy Trading App
Recognising the growing trend in social trading, Axi also offers a copy trading app. This application allows users to automatically copy the trades of experienced traders.
It’s an excellent tool for beginners who wish to learn from seasoned traders or for those who prefer a more hands-off approach to trading.
The app facilitates engagement with a community of traders, enabling users to discuss strategies, share insights and replicate the trades of users whose strategies fit their investment goals.
ACCOUNT TYPES
Axi provides a range of account types designed to cater to the varied needs and experience levels of traders. Each account offers distinct features and benefits, allowing traders to choose the option that best suits their trading style, strategy and financial goals.
Standard Account
The Standard Account is ideal for novice traders and those who prefer simplicity in their trading activities. Traders are not required to deposit a minimum amount and can start trading with any funds they may have available.
The Standard Account provides spreads from 0.9 pips, while no commission charges are applicable on this account type.
Pro Account
Designed for more experienced traders who are looking for lower costs on their trades, the Pro Account features lower spreads but includes a commission on trades.
This account is particularly attractive to scalpers and day traders who frequently enter and exit the market, as the lower spreads can significantly reduce trading costs over time.
The Pro Account also provides access to the same range of instruments and platforms as the Standard Account but offers raw spreads from 0.0 pips, while charging commission of $7 USD per lot round trip.
Elite Account
The Elite Account is tailored for high net worth individuals and professional traders who require a more customised trading environment. This account type offers the lowest spreads and commissions, providing cost-effective trading at high volumes.
Elite Account holders benefit from raw spreads starting at 0.0 pips, while commissions are charged at $3.50 USD per lot round trip. Elite Account holders are required to deposit a minimum of $25 000 USD to access this account type.
Additionally, the broker also provides Islamic Account options, further details of which are available from the broker upon request.
HOW TO OPEN AN ACCOUNT
Opening an account with Axi is a straightforward online process. Prospective clients need to fill out an application form on the Axi website, providing personal information and submitting identification documents for verification.
The process of verification typically takes less than a business day, whereafter clients can select their trading account, deposit funds and begin trading.
DEMO ACCOUNT
Axi provides a demo account with virtual funds, allowing new traders to practice trading strategies without financial risk. This is an excellent way for beginners to gain familiarity with the platform and for seasoned traders to test new strategies.
The broker offers the demo account for a period of 30 days, even including a dedicated account manager while accessing real, live market conditions.
SOCIAL TRADING AND COPY TRADING
Axi supports social and copy trading through the provision of its own proprietary Axi Copy Trading App. This app can be downloaded and installed on mobile devices, allowing traders to access copy trading features with ease.
Through the provision of the app, as well as the various social trading and copy trading tools available on MT4, the broker has ensured that their clients have access to superb social trading and copy trading features.
COMMISSIONS AND FEES
Axi is known for its competitive pricing, with the Standard Account attracting no commission charges, despite providing low spreads from 0.9 pips. The Pro Account provides raw spreads to traders, while only charging $7 USD per lot round trip, which is very competitive in comparison to the rest of the industry.
The Elite Account only charges commission fees of $3.50 USD per lot round trip, which represents great value for money.
Additionally, the broker does not charge fees on withdrawals and deposits, while they state a small fee may be charged by third-party financial service providers. There is, however, an inactivity fee applicable after an account has been inactive for 12 consecutive months, limited to 10 units of the account base currency.
LEVERAGE
Leverage at Axi can go as high as 500:1 across all account types, depending on the instrument traded and the trader’s region. This allows traders to open large positions with a relatively small amount of capital.
However, it’s crucial to understand the risks associated with high leverage, especially since the broker does not offer negative balance protection to its traders.
WITHDRAWALS AND DEPOSITS
Axi supports various deposit and withdrawal methods including bank wire transfers, debit and credit cards, various eWallets such as Skrill and Neteller, as well as cryptocurrency deposits. Transactions are typically swift, with deposits being instant and withdrawals processed in around 1-2 business days.
The broker does not charge any fees on withdrawals or deposits, while fees may be applicable to third-party financial service providers.
CUSTOMER SERVICE
Customer service at Axi is available 24/5 and accessible via live chat, email and phone. The broker places a strong emphasis on providing responsive and helpful support to address any issues that traders might encounter.
With offices around the globe and serving clients from over 100 countries, the broker has ensured that its customer service is available to traders in multiple languages, ensuring that all their clients can access support.
SAFETY AND SECURITY
Safety and security are vital aspects to consider in online trading and Axi takes these aspects seriously by adhering to strict regulatory standards and implementing robust security measures.
The broker is regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, which plays a crucial role in ensuring that Axi maintains high operational and ethical standards.
The FSA of Saint Vincent and the Grenadines is responsible for the oversight and regulation of financial service providers in the jurisdiction. This regulatory body ensures that Axi complies with international financial laws and practices, providing traders with a secure environment to conduct their trading activities.
Being regulated by the FSA means that Axi must adhere to certain capital requirements, submit regular financial reports and undergo periodic audits to ensure financial transparency and stability.
The broker further implements segregated client funds, ensuring that client funds are held separate from the broker’s funds. This means, that in the unlikely event of the broker’s insolvency, client funds will be protected.
Additionally, the broker is also a member of the Financial Commission, ensuring client funds are protected up to the value of $20 000 USD, through the Compensation Scheme.
By maintaining strict adherence to regulatory guidelines set by the FSA and implementing comprehensive security measures, Axi ensures that its trading environment is safe and secure for all its clients.
PROMOTIONS
Currently, Axi does not provide any promotions or bonuses on their website, except an Affiliate Programme and an Introducing Brokers programme.
As brokers often encourage new traders to use their services through promotional offerings, traders are encouraged to regularly check the broker’s website in the event that promotions are offered in future.
RESEARCH
The broker provides comprehensive research tools including economic calendars and trading news and guides. Additionally, the broker offers tools such as AutoChartist and Trading Central, which operate as plug-ins to further enhance the research tools on the MT4 platform.
These tools ensure that Axi’s clients have a wide range of resources available to them when making trading decisions.
EDUCATION
Axi’s educational resources cater to traders of all levels. From video tutorials, various glossaries and eBooks, to the Axi Academy and Axi Blog, the broker is dedicated to the improvement of their clients’ skills and knowledge.
With the wide range of educational tools available on the broker’s website, Axi traders have every opportunity to become successful traders.
GLOBAL AWARDS
Axi has received several global awards, reinforcing its reputation as a reliable and respected broker in the forex community. Some of their recent awards include the following:
- Best Forex Trading Platform (2023) – Online Money Awards.
- Best Forex Provider (2023) – Online Money Awards.
- Best CFD Provider (2022) – Shares Awards.
- Best CFD Provider (2021) – Shares Awards.
SAFE OR SCAM?
Determining the legitimacy and safety of a forex broker is crucial for traders. Axi, with its regulation by the FSA of Saint Vincent and the Grenadines, adheres to specific regulatory standards that enhance its credibility and trustworthiness as a broker.
This regulatory oversight ensures that Axi operates with transparency, follows fair trading practices and maintains segregated accounts for client funds, which are critical aspects of trader protection.
Additionally, the broker has been in operation for over 16 years, indicating that they are trustworthy and committed to their clients. The broker has also received great reviews from their clients on popular review sites such as Trustpilot, further confirming Axi’s legitimacy.
From our research, it is clear that Axi is a safe and reliable broker.
CONCLUSION
Axi offers a comprehensive trading solution with its advanced trading platforms, diverse market offerings and strong educational resources. The broker offers great features such as the availability of IPOs, their proprietary trading platform, the Axi Academy and most notably, the Axi Select programme.
This is clearly a broker that values its clients and goes to great lengths to help their clients succeed. In addition to this, the broker offers superb trading conditions with low spreads and competitive commissions.
According to our research, the team at Brokersuggest.com highly recommends Axi as a great broker. All traders, especially traders who are new to the industry, will benefit greatly from partnering with Axi.