AxiTrader Broker Review

Axi, earlier known as AxiTrader, is an Australian forex broker that was founded in 2007. Axi, a new brand, was introduced in 2020.

Many financial regulators around the world, including the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), and the Dubai Financial Services Authority (DFSA), regulate Axi. As a result, Axi is regarded as secure because a number of top-tier authorities regulate it.

Traders may choose from various trading products, including CFDs on underlying financial instruments such as stock indices, metals, foreign exchange, and commodities. The web-based trading platform of AxiTrader is now available in different languages.

Fun fact: Axi is the online trading partner of Manchester City Football Club.

In this review, we’ll discuss everything from regulations to its spread about Axi. So, if you are looking to open an account t with Axi, consider this review first.

You can find our transparent Axi review below. Broker reviews are updated frequently!

Axi Review by TradeFX Homepage Screenshot

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Pros / Cons
  • Multi-Regulated
  • MetaTrader 4
  • Autochartist
  • Broker Verified
  • No FSCA Regulation
  • No MetaTrader 5
  • No ZAR Account Currency

AxiTrader Regulation

Axi Trader holds Australian Financial Services and is regulated by the Australian Securities and Investments Commission (ASIC).

Traders in the UK will oversee their portfolios through the Financial Conduct Authority (FCA) governed agency AxiCorp Limited, which has already begun its expected rebranding process to Axi.

Axi Trader has held a Category 4 license with a Retail endorsement from the Dubai Financial Services Authority (DFSA) since 2015. Following the bankruptcy of Alpari UK, whose Middle East operations were acquired by AxiCorp, Axi Trader received it. Axi Trader keeps all client assets in a separate bank account with tier-1 banks.

Reliability

Since the investor security sum and the regulator vary from entity to entity, safety is important for you. AxiTrader is authorized and regulated by the two major authorization institutions, the Financial Conduct Authority (UK) and the Australian Securities and Investments Commission.

Axi offers negative balance security for forex spot and CFD trading, but only to retail European Union investors. Negative balance insurance is not available to professional or non-EU users.

AxiTrader Account types

At Axi Trader, you have two options: the Standard account, which has higher spreads and no commission charges, or the Pro account, which has raw spreads and commission charges. The Standard Account has a slightly higher spread, but the trading conditions in the Pro Account are great.

You can also open an Islamic account with Axi.

Average Standard Account Spreads on Majors

  • EUR/USD: 1.2
  • GBP/USD: 1.7
  • USD/JPY: 1.2
  • AUD/USD: 1.3

Account opening

Axi has established a three-step procedure that meets regulatory requirements for AML/KYC, and new traders can feel at ease submitting their information, copy of ID, and proof of residency to this broker.

You’ll also need to answer a few simple compliance questions to validate your trading experience, so allow at least ten minutes to complete the account opening process.

Axi accepts traders from more than 100 countries. However, there are a few exceptions. For instance, customers from the US or Canada cannot open an account.

Account currency

Although you can’t open an account as a US citizen, however, you can open an account in USD. In addition to the greenback, you can have an account in EUR, GBP, AUD, CAD, CHF, HKD, SGD, JPY, and NZD.

This is helpful because you do not have to pay a conversion fee if you choose to fund your account in the same currency as your bank account or exchange funds in the same currency as your trading account base currency.

AxiTrader Commissions and fees

Axi earns money from spreads in its Standard Accounts as well as fees paid in its Pro Accounts. There is a $3.5 fee per traded lot and a much lower spread rate for Pro accounts.

Spreads on Standard accounts are far wider. Moreover, Axi is a market maker, which means it can directly benefit from your losses in cases where it serves as the counterparty.

Charges on overnight positions, also known as swap rates, apply and are passed on to traders. Axi does not charge any non-trading fees. It also does not charge account, inactivity, or withdrawal fees.

Leverage

Axi offers leverage up to 1:500 for its ASIC regulations. If you are subject to FCA jurisdiction, you cannot adjust your leverage levels.

It is a set 1:30 for European clients. It is possible to adjust it for clients under different entities.

When you want to reduce the risk of your trade, changing the leverage is a very useful feature. We think you should have control over this. Be cautious when trading forex and CFDs, as the default leverage levels can be severe.

AxiTrader Tradeable products

Axi is a forex broker and offers over 80 currency pairs.

It also offers a mix of hard and soft commodities, 31 equity CFDs, and six cryptocurrency CFDs. Axi does not provide stock, ETF, and bond CFDs.

Trading platforms

Axi does not have its trading platform; instead, it uses MetaTrader 4, a third-party platform that runs on PC or Mac, Android or Apple, and is available in a web version. Axi’s online trading platform is highly customizable. The size and position of the tabs are easily adjustable.

To gain access, you must first log in to Axi’s client platform. Axi also provides the Next Generation of MT4 (MT4NexGen) to experienced traders. The platform is packed with updated and proven features that improve trading, such as sentiment indicators, correlation trader, alert manager, automated trade journals, and many others.

This platform is free for clients who open a live account with a minimum deposit of $1,000.

Deposits and Withdrawals

Axi has a wide range of deposit and withdrawal options.

Deposits may be made using credit/debit cards, bank transfers, and e-wallets. You can also use Skrill, Neteller, China Union Pay, and FasaPay.

There are no deposit fees at Axi. However, a third-party fee may apply. A bank transfer can take two to three business days to complete, while credit or debit card transactions or electronic wallets are instant.

You can only deposit funds from your own accounts. If you deposit with a debit or credit card, you can only withdraw funds to your bank account, and if you deposit with an electronic wallet, you can only withdraw funds to the wallet you used to deposit.

AxiTrader Education and Research

When it comes to education, Axi does a good job. The key educational resources can be found at the top of the front page under the Learn to Trade menu. There are also educational posts in ‘Markes Blog’ that are up to date and well published.

The general educational videos cover multiple subjects, including trading psychology and forex trading. You can also download a range of high-quality eBooks.

Autochartist and PsyQuation Premium include the majority of Axi Trader’s analysis. Axi has a market analysis segment where it offers premium content in the form of market commentary. This balances the outsourced research and results in an outstanding combination that provides you with an appealing research collection.

Special features

At Axi, three special features stand out: the Autochartist MT4 Plugin, VPS hosting, and PsyQuation Premium.

Autochartist is a market tracker that detects chart patterns and trading opportunities in real-time. It also offers market forecasts three times a day, analyses volatility, and helps traders fine-tune their trading strategies using performance data.

It is one of the most valuable third-party services that a broker can give its traders.

PsyQuation Premium is free for all AxiTrader clients who keep a $500 minimum balance and trade with one standard lot every month.

PsyQuation Premium is a sophisticated trading tool that provides trading signals, detailed forecasts, and quantitative analytics. It alerts you to errors and helps you become a better trader over time; it is similar to having a trading mentor coaching you on a regular basis.

VPS hosting enables traders to run their automated trading solutions 24 hours a day, seven days a week. AxiTrader does not have its own virtual private server (VPS) but has partnered with ForexVPS, MetaTrader VPS, Commercial Network Services (CNS), and BeeksFX.

Customer service

AxiTrader offers 24/5 customer service, and traders can reach a representative by calling a toll-free number, requesting a call-back, sending an e-mail, or using the live chat. Axi has a quick live chat, and an agent is linked almost instantly.

English, Spanish, German, Japanese, Russian, Chinese, Thai, Italian, Polish, Vietnamese, Romanian, and Arabic are among the languages supported by Axi.

AxiTrader  South Africa

Axi accepts clients from South Africa. However, you can’t open an account in ZAR.

Bonuses and Promotions

Up until February 2021, Axi didn’t offer any bonuses or promotions to traders. In February, Axi brought out a serious welcome deposit bonus aimed at new traders. Up to $6,888 in trading capital was up for grabs for users that meet bonus terms and conditions. However, this competition was aimed at traders who would deposit a minimum of $300 and place a trade between 8th February 2021 and 8th March 2021.

Axi affiliate program

If you are a marketer, you can sign up with Axi’s affiliate program at Axiaffiliates.

Join the Axi IB Affiliate Program: Join Now & Earn

Our verdict

Axi has a few minor issues, but it is still a well-regulated broker. This broker focuses mainly on the forex market, and the majority of trading assets are currency pairs. Commodities, indices, and cryptocurrencies are available for entry-level cross-asset diversification; however, more experienced traders will find the overall asset range limited.

Pro account trading conditions are great; traders have access to raw spreads for a commission of just $7 per lot for a round trip or $3.50 one way; the Standard Account is not recommended because the EUR/USD is listed with a fixed spread of 1.2 pips.

Market makers typically have a lower minimum deposit, smaller minimum trade requirements, and no commission on trades.

As a nice bonus, Axitrader is one of the very few brokers that claim to have no requotes, so you do not have to worry about slippage.  The maximum leverage at Axi is 1:500, which applies to the Pro Account trading requirements.

Axi Trader helps you to place a 0.01 lot trade. This can differ depending on the type of account you open. Since Axi provides ECN and STP execution, you can expect very close spreads and greater clarity about the price you pay to execute your trades.

Axi may have lower entry requirements as a market maker than an ECN broker, who usually has higher capital and minimum transaction requirements due to a higher volume of trades.

Conclusion

AxiTrader is regulated by multiple bodies, including the FCA in the United Kingdom and ASIC in Australia. On the positive side, forex fees are modest, and there is no inactivity fee. Both deposits and withdrawals are free of charge.

Account opening is simple and digital, with no minimum deposit required. However, there are some disadvantages of using Axi. Its product offerings are limited to forex and CFDs, and it does not offer an MT5 platform.

We value your feedback: Rate this broker by leaving a comment and rating below this review.

Broker FAQ

Thinking of Trading with AxiTrader?

Axi FAQ

Is AxiTrader regulated?

Three regulatory bodies regulate AxiTrader. ASIC oversees AxiCorp Financial Services Pty LTD, while the FCA and DFSA oversee AxiCorp Limited and AxiCorp Financial Services Pty Ltd.

What is Axi’s minimum deposit?

Axi does not require a minimum deposit, giving all traders independence and flexibility.

How do I fund my AxiTrader account?

You can finance your trading account through credit/debit cards, bank transfers, and electronic wallets for deposits. You can also use Skrill, Neteller, China Union Pay, and FasaPay.

How do I withdraw from AxiTrader?

Axi accepts withdrawals via debit or credit card, bank wire transfer, Neteller, e-wallets, Fasapay, and Skrill.

What is the maximum leverage at AxiTrader?

Axi’s maximum leverage is 1:500. However, it varies from region to region.

Is AxiTrader available for South African traders?

Yes, you can open an account with AxiTrader as a South Africa.

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Axi, earlier known as AxiTrader, is an Australian forex broker that was founded in 2007. Axi, a new brand, was introduced in 2020.

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