Axi Review

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Axi Online Trading Broker Review

Axi is a company that trades forex and CFDs worldwide. It started in 2007 in Sydney, Australia. More than 60,000 traders like it because they can trade with little money and a lot of borrowed money. Axi has useful tools like copy trading and Autochartist. It mainly uses MetaTrader. Now, it focuses on trading forex, cryptocurrencies, indices, metals, and commodities. Axi has different types of customers, including new investors and big traders. Let’s find out if Axi is a legit broker or not in this review.

Axi

4.0

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Min Trade Size 0.01 lot

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What is Axi?

AxiCorp Financial Services Pty Ltd, also known as Axi, is a company based in Australia. It started in 2007, and it’s a broker for Forex and CFDs. During its first years, it became one of Australia’s most trusted Forex brokers with a strong brand. In 2012, they expanded globally by opening a branch in London called AxiCorp Ltd. This branch is owned completely by the Australian company. Axi offers trading for forex pairs, indices, commodities, and cryptocurrencies. It doesn’t have as many options as some other brokers. Axi focuses on offering financial products for foreign exchange, mainly for regular investors. All accounts have low spreads and fast execution. Axi’s clients can access various liquidity providers from over 14 of the world’s largest banks.

Pros and Cons of Axi

Is Axi Safe or a Scam?

Axi is not a scam. People have voted for its trustworthiness over time because it offers low-risk Forex trading. The broker is licensed and regulated by two main institutions: the Financial Conduct Authority (UK) and the Australian Securities & Investments Commission, which ensures clients’ safety.

Axi Fees

Overall, Axi fees are low or sometimes even free. Axi pricing suits different traders’ needs. Standard account fees are included in the spreads, which start at 1 pip. Pro Accounts have 0 pips spreads and charge a $7 commission per round. Another cost to consider is the Swap Fee. This fee reflects the difference in interest rates on the assets you’re trading. Usually, Axi charges Swap Fees for Long Positions and pays for Short Positions.

Spreads & Commission

Generally, Axi’s spreads are similar to those of other sites. For instance, the average spread for EUR/USD with a standard account is 1.3 pips (0.2 pips for a pro account). For GBP/USD, it’s 1.5 pips (0.6 pips for a pro account), and for AUD/USD, it’s 1.4 pips (0.5 pips for a pro account). If you have a standard account with Axi, there’s no commission. However, the spreads for standard accounts start at 0.4 pips. In contrast, the pro account charges a $7 commission per round trip but offers spreads starting from 0.0 pips.

Leverage

When we used Axi, we found we could borrow up to 400 times our money. That’s pretty high. Some other platforms also offer this, and a few even offer up to 500 times. But if you’re in Europe, you might only be allowed to borrow up to 30 times (2 times for crypto) because of ESMA’s rules. You can choose your own leverage levels.

Account Types

Axi has three types of accounts: MT4 Standard Account, MT4 Pro Account, and Elite Account. If you’re new to trading, you can open a free 30-day trial Demo account with £50,000 pretend money to practice. Traders who follow Muslim Sharia rules can open a Swap Free Account, which doesn’t charge swap fees on certain trades.

Deposits and Withdrawals

You can deposit money into your Axi account in several ways, like Moneybookers/Skrill, Neteller, Wire Transfer, Credit Card, and BPAY. You can also move your account from another broker to Axi. You can choose your account currency from GBP, USD, EUR, CHF, or PLN, and deposit money in those currencies too. Axi doesn’t ask for a minimum deposit for its standard and PRO accounts, but for the Elite account, you need at least $25,000. Withdrawals usually take 1-2 business days to process, but the time it takes to get your money depends on how you withdraw it.

Trading Platforms

Axi gives traders the MT4 trading platform with the Autochartist plugin for free. We like that Axi adds Autochartist, which can help new traders. MT4 is the top platform for automated trading and is the most flexible. You can use it on your computer, on the web, or on your phone. Axi also offers the MT4 MAM module for managing accounts.

Research and Education

Most of the research at Axi comes from Autochartist, but they also have a weekly market review on their blog. It’s well-written and has charts with easy trading ideas. The Axi blog also has good educational articles. We recommend that all traders check it out because there’s a lot of useful content. You can also get five free eBooks, but you need to give your name, country, phone number, and email. These are needed for opening an account, so they’re not a problem for new clients. The video library has eleven courses with many lessons. The videos are short and good for beginners. They can start with these and then look for more online. Overall, the education section at Axi is thorough and high-quality.

Customer Support

Axi has customer support available 24/7, through email, live chat, or eleven toll-free numbers. But we couldn’t find an FAQ section. Axi explains its products and services clearly, and we think most traders won’t need help. If there’s an emergency, you can easily reach Axi’s customer support.

Conclusion

Overall, we found that Axi offers easy online trading for new graduates and advanced options for experienced traders. Axi’s MetaTrader 4 platform provides a wide range of tools for trading with competitive technology. When it comes to margins, it offers flexible leverage options. With high leverage and low commissions, Axi is a good place to trade. Axi has been around for more than ten years and is well-regarded in the industry. It’s a popular choice among Australian traders and investors worldwide.