New Axi broker review – 2021 Update
Axi aka AxiTrader offers services to clients interested in trading Forex and CFDs. Our review covers various features offered by the broker, such as the minimum deposit, fees, platforms, spreads, leverage, customer support, and educational material. The broker caters to investors in the EU, Australia, Singapore, and Indonesia.
About Axi
Axi was initially an Australian brokerage firm, founded in 2007. The company expanded further to London in 2012, and to China in 2015.
Axi started as a two-person startup but eventually grew into a global business that services thousands of traders across the world, in over 100 countries.
Axi is regulated by Australia’s ASIC and UK’s FCA. Axi’s motto is that it was “build by traders, for traders”, which means it offers versatility, tight spreads, and extremely fast execution.
Trading Platform
Axi offers the MT4 (MetaTrader 4) platform which was developed by MetaQuotes. MT4 is the most popular trading platform amongst traders across the world and offers great customizability, multiple language options, and price alerts.
Axi also has its own proprietary platform called Axi One. The broker promotes the platform stating it offers great flexibility, efficiency, exceptional performance, and cost management.
The key benefits provided by AxiOne are:
- 20+ Direct Liquidity Providers
- One integration giving access to 7 exchanges (100+ Liquidity sources)
- Multi-Asset (FX, CFD’s, Spread Betting, Metals, NDF’s)
- Multi-Connectivity Options
- Open 5 am Sydney time (2 hours earlier than most other brokers)
- Regulated by FCA and ASIC
Financial Instruments
Axi offers various products for trading, such as:
- Forex – major, minor and exotic pairs
- CFDs – Contracts For Sale – gold, silver, oil and indices
- Indices – baskets of shares of large public companies that you traders can invest in, such as the FTSE 100, Nasdaq 100, S&P 500 and more.
- Commodities – hard and soft commodities, like WTI Oil, Natural gas, Gold, Coffee, Sugar, etc.
- Cryptocurrencies – Bitcoin
Axi Account Types
Axi offers two account types to traders; the Standard account and the Pro account. Both account types are free to set up and can first be tried for 30 days through a demo account.
Standard Account
Spreads start from 0.4 pips and there is no commission. Minimum trade size is 0.01 lots and there is no minimum deposit. Margin/leverage is up to 30:1, based in your jurisdiction. You can open an account in the following base currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD. Mobile trading and MT4 NextGen are available for this account type. You will also have free access to tools such as Autochartist, myfxbook Autotrade, PsyQuation, and PsyQuation Premium.
Pro Account
Spreads start from 0.0 pips and comission is $7 per round trip. Minimum trade size is 0.01 lots and there is no minimum deposit. Margin/leverage is up to 30:1, based in your jurisdiction. You can open an account in the following base currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD. Mobile trading and MT4 NextGen are available for this account type. You will also have free access to tools such as Autochartist, myfxbook Autotrade, PsyQuation, and PsyQuation Premium.
Professional traders must meet two of the below three criteria to be allowed to open a Pro account:
- They traded in significant size in leveraged markets an average of 10 times in each of the last four quarters
- Having an investment portfolio, including cash, that exceeds €500,000
- They have worked for at least a year as a professional in the financial sector requiring knowledge of leveraged products
Spreads & Commission
Axi offers competitive spreads, that are all available live on their website. Below are some examples of their spreads on 28th July 2020.
Leverage
Leverage can be adjusted based on the trader’s preference. Axi offers leverage that is up to 400:1 which is regarded as relatively high in the market, although this depends on which regulator is responsible for the trader’s jurisdiction. For example, European dealers traders have leverage limited to 1:30 (1:2 on Crypto) in accordance with the ESMA regulations of the EU.
Desposits and Withdrawals
There are various ways to deposit funds to AxiTeller as well as withdraw them:
| Payment Method | Currencies | Fees | Time to account | Minimum Withdrawal | Withdrawal time |
|---|---|---|---|---|---|
| Credit/Debit Card | EUR, GBP, PLN USD | Free | Instant | N/A | N/A |
| Bank Transfers | CHF, EUR, GBP, PLN, USD | Free | 1-3 days | 50 | 1-3 days |
| Sofort | EUR | Free | Instant | N/A | N/A |
| GiroPay | EUR | Free | Instant | N/A | N/A |
| iDeal | EUR | Free | Instant | N/A | N/A |
| Neteller | EUR, GBP, USD | Free | Instant | 5 | 1-3 days |
| Skrill | AED, CAD, CHF, EUR, GBP, INR, SGD, USD | Free | Instant | 5 | 1-3 days |
| Polish Internet Banking | PLN | Free | Instant | 5 | 1-3 days |
| Global Collect | N/A | Free | 3-5 days | N/A | N/A |
Withdrawals are typically done within 1-2 days. Axi works in accordance with anti-money laundering guidelines.
Demo Account
Axi provides a demo account alternative that permits traders around thirty days of training trading. Each dummy account includes a digital balance of $50,000. Clients can select whether to start a dummy standard or a dummy professional account.
Axi review
Promotions and Deals
Axi offers an extensive collection of educational programs, such as webinars, video tutorials; online instruction; and e-books. There’s also a vast selection of trading tools to help traders, as an FX economic calendar; note of marketplace vacations; prospective CFD rollover dates; along with a dividend prediction schedule.
Regulation And Licensing
The Australian Axi operation is regulated by ASIC. The UK one is regulated by FCA. Both the FCA and ASIC are held in high regard as financial regulators, meaning that traders can expect to get a high degree of confidence when using Axi. New Zealand users are regulated by FMA, Dubai is regulated by DFSA.
The brand has won many awards for its trustworthiness, such as the 2017 “Most Reputable Forex Broker” title. The balances of Axi UK customers are protected by the Financial Services Compensation Scheme around £50,000.
Advantages
- Well-regulated, so traders may have a high level of confidence in the company.
- Added MT4 NexGen applications to provide added functionality.
Disadvantages
- The website doesn’t have an Islamic account.
- No MT5
Trading Hours
The website is available 24/7/365.
Most assets are available for trading 24/7.
Contact Details / Client Support
Live Chat: clients can begin a live chat through the Axi Website.
Australian Free Phone number: 1300 888 936
International contact number: +61 2 9965 5830
Email: [email protected]
Axi Free Phone Numbers:
- Australia 1300 888 936
- China 400 8907839
- Germany 0800 7244085
- Hong Kong 800 903 578
- Indonesia 0018030164060
- Malaysia 1800 81 6529
- New Zealand 0800 480 404
- Singapore 800 120 6765
- Spain 80 060 01 30
- Thailand 001800120664622
- United Kingdom 0800 018 3306
Security and safety
All information is encrypted during transmission and also the provider utilizes cutting-edge software to safeguard dealers.
Final Verdict
Overall, Axi is a trustworthy trader with competitive trading opportunities. Ideal for both novices and more experienced dealers, Axi is globally trusted. The MT4 platform is popularly known among the very best in the business.
Axi also empowers users to use MT4 NexGen, significantly increasing the performance of the website and enhancing the trading expertise. The program provides full functionality and also the company gives a seamless user experience across all of the devices. Easily navigable, the website is straightforward and self-explanatory. There’s plenty of informative content, supplying facts of significance to both the new and seasoned traders.
Accepted Countries
Axi accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.
Traders from the following countries can not use Axi: the United States, Japan, Singapore, Colombia, Iraq, Iran.
