Axi Review

Axi offers Forex and CFD trading to retail and professional traders. Our Axi review includes all you need to know, from minimum deposit, withdrawal details, and MetaTrader 4 integration, to spreads, leverage, and demo account info. Catering to traders from the EU to Australia, Singapore, and Indonesia, the client portal opens up a range of global opportunities via the AxiTrader group. Log in today and see if Axi is right for you.

Introducing Axi

Axi was originally an Australian trading company, set up in 2007. Over the years the company has expanded, opening a London branch in 2012 and commencing operations in China in 2015.

Predominantly a MetaTrader broker, and rebranding from ‘AxiTrader’ – Axi now specializes in foreign exchange speculative trade, including Bitcoin, indices, metal, and commodities.

The company is regulated by ASIC in Australia and the FCA in the UK. It is aimed at a generic audience, with trading opportunities suitable for less experienced traders and those with a smaller bankroll, as well as more ambitious trading options, and even institutional trading.

Trading Platform

The trading platforms offered by Axi are all from MetaQuotes. MT4 (MetaTrader 4) is the primary trading platform provided by the site. Versions are available which are suitable for Android and Apple devices, as well as Mac computers and those with a Windows set-up.

In addition, traders can make use of MT4 NextGen. This is a platform that complements MT4, providing the opportunity for additional functionality. Axi also provides MT4 trading signals and MT4 multi-account manager.

The platform has been tweaked so that it is easy to navigate; trades can be completed quickly and easily. Comprehensive education material ensures that even new traders have access to everything they need to know to get started.

If you want to work with MT4, Axi is a good site to use; if you wish to consider other platforms, perhaps working with more than one on the same site, then the AxiTrader range isn’t going to meet your requirements.

Assets / Markets

The markets which Axi offers are:

• – Forex trading over 61 different currencies and 80 major currency pairs.
• – Cryptocurrencies
• – CFDs: bullion; commodities; metals; gold & silver trading; oil trading; indices trading.

Spreads & Commission

Generally, the spreads offered by Axi are competitive or in line with what you will find at other sights. For example, the average spread for EURUSD in a standard account is 1.24 (0.44 in a pro account). The average spread for GBPUSD is 1.73 (0.85 in a pro account) and for AUDUSD 1.32 (0.42 in a pro account). These figures were dated February 2017.

If you open a standard account with Axi, there is no commission for trading. That said, spreads available for standard account holders only start at 1.0 pips. In comparison, the pro account charges a $7 round trip commission but spreads start from 0.0 pips.

Ultimately, the most cost-effective for a customer is determined by the amount and level of trading which they wish to complete. These charges are roughly in line with the industry standard and are more competitive than those offered by some other brokers.

Leverage

Leverage levels can be set according to individual preferences. Axi offers leverage of up to 400:1. This is considered to be relatively high within the industry, although there are several platforms out there that also offer 400:1; some offer up to 500:1. As an FCA-regulated broker, European traders may see leverage restricted to 1:30 (1:2 on Crypto) in line with the ESMA regulations in the EU.

Mobile Apps

Axi has a mobile app for both Apple and Android devices. The app can be downloaded from the site and enables traders to operate in the same manner as they would on the larger screen.

Axi offers a seamless experience, so traders can move between devices without “losing their place” in their trading activities. The app is fully functional, easy to navigate, and provides all the advantages of using the site on a laptop or desktop.

Payment Methods

Deposits to AxiTeller can be made using the following methods:

• – Credit card (Visa; Maestro; and Mastercard). Payments can be made 24/7/365 and are reflected in the account instantly (within ten minutes). There are no fees for credit card transactions. All currencies can be deposited in this way.
• – Debit card (Visa; Maestro). Deposits are reflected instantly (within ten minutes) and are free. Deposits can be made 24/7/365. All currencies can be deposited using a debit card.
• – Neteller: deposits are reflected instantly (within ten minutes) and are free. Neteller deposits can be made at any time. All currencies can be deposited using Neteller.
• – Skrill / Moneybookers: instant (within ten minutes) deposits can be made at any time and are free.
• – China Union Pay: instant (within ten minutes)can be made 24/7/365. China Union Pay deposits are free, but can only be made in RMB.
• – Bank Wire: This takes 1-3 working days. Bank Wire deposits are free to make and can be made in the following currencies: USD; GBP; EUR; CHF; PLN. A Bank Wire can be made at any time.

Withdrawals are normally completed within 1-2 days. International withdrawals take between 2-5 days. Axi operates in line with anti-money laundering guidelines. This means that proof of identity may be required before withdrawals can be approved.

Demo Account

Axi offers a demo account option that allows traders up to thirty days of dummy trading. Each dummy account comes with a virtual balance of $50,000. Customers can choose whether to open a dummy standard or dummy pro account. Setup a Demo Account here

Deals And Promotions

Axi offers a comprehensive selection of educational tools, including webinars, video tutorials; online education; and e-books. There is also a wide range of trading resources to assist active traders, such as an FX economic calendar; notice of market holidays; future CFD rollover dates; and a dividend forecast schedule.

Regulation And Licensing

The UK Axi operation is regulated by the FCA. The Australian operation is regulated by ASIC.

Both the FCA and ASIC are highly regarded as financial regulators, which means that traders can expect to have a high level of trust in the integrity of the AxiTrader group.

Dubai operations are regulated by DFSA, whilst Axi users in New Zealand benefit from regulation under FMA (NZ).

The brand has won awards for its trustworthiness, including the winner of the 2017 “Most Reliable Forex Broker”. The accounts of Axi UK clients are protected by the Financial Services Compensation Scheme up to £50,000.

Additional Features

Axi has a regularly updated blog, which details industry news and views as well as an insight into economic news across the globe which may be of interest to traders. There is the opportunity to enjoy the market and technical analysis from trading experts. In addition, guides and infographics provide added data for customers to use to inform their trading activities.

AutoChartist Signals

The AutoChartist feature offers automation and trading signals on forex pairs. These are delivered via the MT4 integration.

Account Types

Axi offers two different accounts: standard; and pro. The only difference between the two relates to the commission charges. As indicated earlier, the spreads for a standard account start at 1.0 pips, but no commission is charged. In comparison, the pro account spread starts at 0.0 pips, but AUD 7 is charged on each trade.

Benefits

The key advantages of Axi are:

• – Well-regulated, so traders can have a high degree of confidence in the brand.
• – Additional MT4 NexGen software to give added functionality

Drawbacks

• – The site does not have an Islamic account option.
• – There is no choice of the trading platform: if you don’t wish to use MT4, then Axi is not going to suit your requirements.

Trading Hours

The site is open 24/7/365.

Most assets are open for trading 24/7. Axi has a full list of asset opening hours here.

Contact Details / Customer Support

Live Chat: customers can start a live chat via the Axi Site.

Australian Free Phone number: 1300 888 936

International contact number: +61 2 9965 5830

Email: [email protected]

AxiTrader Free Phone Numbers:

• Australia 1300 888 936
• China 400 057 9816
• 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

Safety And Security

All data is encrypted during transmission and the company uses cutting-edge software to protect traders.

Overall Verdict

Generally, Axi (formerly AxiTrader) is an extremely trustworthy, established trader with competitive trading options. Ideal for both beginners and more experienced traders, Axi is internationally trusted. The MetaTrader 4 platform is widely recognized as one of the best in the industry.

Axi also enables users to utilize MT4 NexGen, greatly increasing the functionality of the site and improving the trading experience. The app offers full functionality and the brand provides a seamless user experience across all devices.

Easily navigable, the site is straightforward and self-explanatory to use. There is a wealth of educational content, providing information of value to both new and experienced traders.

A relatively high level of leverage, alongside competitive commission, ensures Axi is a good value site to trade with. Axi has been around for more than a decade, so already enjoys a good reputation within the industry.

The only marked disadvantage of this site is that MT4 is the only trading platform offered, which means users don’t have the chance to try out alternative platforms which may suit them better.

Accepted Countries

AxiTrader 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 can not use AxiTrader from the United States, Japan, Singapore, Colombia, Iraq, and Iran.

Editorial Staff

Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.