Axi Forex Trade Platform and Broker Review

Axi Forex Trade Platform and Broker Review

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Axi Broker Review

Axi (formerly AxiTrader) is a globally recognized, award-winning online broker that was established in 2007. Axi is part of the AxiCorp Group who is one of the leading online brokers that offers products and services to retail forex traders.

Axi is headquartered in Sydney Australia with nine other offices and between 250 to 500 employees.

Is Axi Regulated?

Yes, Axi is regulated by the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and the Dubai Financial Services Authority (DFSA). Axi also holds an Australian Financial Services License (AFSL).

As per the official Axi website, the broker has the necessary regulation in addition to a cross-border license, authorizing it to offer investors as well as ancillary services to forex traders in more than 150 countries worldwide.

The strict regulation that Axi has guarantees client fund security as Axi is required to keep funds in segregated accounts, away from its operational funds. These funds are kept in accounts with top-tier banks including NAB and Lloyds. These funds can therefore not be used for any purposes other than trading.

Is Axi Regulated in the United States?

No, Axi is not regulated in Virginia or any other US state. 

Is Axi Regulated in Europe?

Yes, Axi is regulated in Europe by the Financial Conduct Authority and complies with stringent rules of the European Securities and Markets Authority (ESMA).

Is Axi regulated in a Tier-1 Jurisdiction?

Tier-1 Jurisdiction grants Axi the necessary license to offer financial services in Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Israel, Japan, Luxembourg, Netherlands, New Zealand, Norway, Puerto Rico, Singapore, Sweden, and Switzerland.

According to the official Axi official website, Axi is regulated in Tier-1 jurisdiction.

Is Axi regulated in Tier-2 Jurisdiction?

Tier-2 Jurisdiction provides Axi with the license to offer financial services and operate in the British Virgin Islands, Cayman Islands, Cyprus, Italy, Malaysia, Mexico, Poland, Portugal, Spain, and Taiwan.

According to the official website, Axi is regulated in Tier-2 jurisdiction.

What are the Platforms and Tools for Forex Trading in Axi?

Axi provides forex traders with the use of the most popular, highly customizable, and user-friendly MetaTrader 4.

  1. Axis MetaTrader 4 is a versatile and powerful trading platform through which trades can be executed and it allows for a range of functions like charting, alerts, analysis tools, and more, helping forex traders keep pace with the markets in real-time, whether they are at their terminals or on the move.

Does Axi Have a News Blog for Forex News?

Yes, Axi offers a news blog for forex news on the official website. forex traders can choose whether they wish to conduct fundamental or technical analysis and the website will produce the relevant results according to the term selected.

Does Axi Have a Traders Dashboard?

No, Axi does not offer a forex traders dashboard on the official website. forex traders must make use of MetaTrader 4 to gain access to such tools after signing up for a trading account.

Does Axi Have an Educational Section?

Yes, Axi has an education section that covers a broad selection of materials and tools for beginners, advanced forex traders, and professionals who wish to revisit the basics. 

What is the content of Axi Forex Education?

Axi offers the following educational material and resources:

  1. Online Courses
  2. Forex video tutorials
  3. Seminars
  4. eBooks
  5. Forex basics
  6. CFD Trading Basics

The Axi online courses are freely accessible and allow forex traders to learn the basics of forex. The following topics are covered and feature several lessons under each.

  1. Forex Trading (22 Lessons)
  2. Market Analysis (11 Lessons)
  3. Trading Psychology (10 Lessons)
  4. Trading Strategies (10 Lessons)
  5. Social Trading (5 Lessons)
  6. MT4 (9 Lessons)
  7. Stocks (8 Lessons)
  8. CFDs (6 Lessons)
  9. Technical Indicators (8 Lessons)
  10. MT4 Mobile (1 Lesson)
  11. Crypto Trading (10 Lessons)

The Forex Video Tutorials sections of Axi’s education contain step-by-step instructional videos on how forex traders can start using the MetaTrader 4 trading platform. Some of the topics covered under this section are listed below.

  1. “How to install MetaTrader 4”.
  2. “Manage open trades in the MT4 Terminal”.
  3. “Basic Functions of MT4”.
  4. “MetaTrader 4 Navigator”.
  5. “Place a trade-in MetaTrader”.
  6. “Types of orders in MetaTrader”.
  7. “How to use Market Watch”.
  8. “Loading Charts to MetaTrader”.
  9. “Backtesting with Axi MetaTrader”.

Axi offers forex traders a variety of free Forex webinars that are scheduled on certain dates during the month. forex traders can register for these webinars on the official Axi website under the section “Seminars”.

Axi also offers forex traders with a few free eBooks that can be downloaded from the official website. Topics that are covered by these books are as follows:

  1. “7 Lessons for Understanding Forex Market Types”.
  2. “13 Exclusive Pro Tips for Using Chart Setups”.
  3. “Hat Trick! 3 Easy Entry and Exit Strategies”.
  4. “3 Ways to Achieve Your Objectives with Position Sizing and System Monitoring”.
  5. “Panic Over – 3 Rescues for When Your System Stop Working”.

Axi also offers forex traders a free Forex Trading course that equips beginners with the essential skills and strategies with which they can start trading the forex markets. The course was designed by professional forex traders and is a free five-part series that breaks down basic concepts such as:

  1. How Forex trading works.
  2. Trading tools, techniques, and strategies.
  3. Essential indicators and technical analysis.
  4. Video tutorials and other content.

Lastly, the CFD trading basics is a one-page guide that covers what CFDs are, why they should be traded, examples of CFD trades, and more.

Is Axi Legit?

Yes, Axi is a legit Forex Broker and Trade Platform that has regulation through ASIC, FCA, and DFSA.

Is Axi Safe?

Yes, Axi is a reliable and safe Forex Trade platform with strict regulation and security protocols. Axi is regulated and authorized by:

  • The Financial Conduct Authority (FCA) regulates Axi in the UK.
  • The Australian Securities and Investments Commission (ASIC) regulates and authorizes Axi in Australia.
  • The Dubai Financial Services Authority (DFSA) regulates Axi in the Middle East.

As a regulated and authorized broker, Axi must comply with stringent requirements with regard to client funds. Client funds are kept in segregated accounts with banks such as NAB and Lloyds. In addition to this, Axi also conforms with the rules of the European Securities and Markets Authority (ESMA) in keeping EU clients safe by limiting the amount of leverage offered to them.

Is Axi a Good Broker?

Yes. According to a Forex Suggest review, where security, trading speed, and cryptocurrencies is concerned, Axi is a good broker but not where online support is concerned.

  1. Axi ensures client fund security and provides a safe and secure trading environment for all its clients by ensuring that SSL and other protocols are used to protect data, information, and transactions.
  2. In terms of trading speed, Axi has robust and innovative trading technology and offers significantly lower latency, with a reduced chance of slippage, improving the pricing that forex traders receive. This is also substantiated by Axi connecting forex traders to more than 20 liquidity providers, allowing for more reliable pricing that is delivered faster and has more depth.
  3. Axi offers the trade-in Bitcoin via CFDs, however, this option is only available to verify professional forex traders as a result of strict FCA regulations.
  4. Axi does not offer forex traders online support in the form of a live chat function.

What is the Offering of Investment in Axi?

Offerings of Axi can be found below.

Feature Axi
Forex Trading Yes
CFDs Yes
Forex Pairs Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) Yes
Social Trading  No

Does Axi have Nasdaq?

Nasdaq is a US-based stock exchange that tracks the top technology stocks in the United States.

Axi offers forex traders access to Nasdaq and as a Nasdaq owner, Axi offers forex traders the trade-in share and index CFDs at competitive trading conditions.

What are the Awards of Axi?

Forex Trading Platform Axi’s awards are listed below.

  1. Best MT4 Forex Broker – atozmarkets.com 2019.
  2. Best Forex Broker Europe – forex-awards.com 2019.
  3. Best Forex Broker Middle East – forex-awards.com 2019.
  4. Best EMEA Region Broker – ADVFN International Financial Awards 2020.

How to Use Axi for Forex trading?

To use Axi, a forex trader should have the necessities below:

  1. forex traders must be 18 years or older.
  2. forex traders must have proof of their identification and residential address for the “Know Your Client” or KYC process.

Once a forex trader meets the conditions above, they can register a forex trading account to use the services of Axis.

How to open a Forex trader account with Axi?

To open a Forex Trading account with Axi, a trader should follow the steps below.

  1. Forex traders can visit the official Axi website and select “Open Account” from the homepage.
  2. Forex traders can start their application by completing the required fields by providing their First and Last Name, Country of residence, phone number, email address, and application type. Lastly, forex traders must accept the privacy policy and select whether they wish to receive the daily market analysis from Axi before selecting “Submit”.
  3. Forex traders will be informed that a verification email has been sent to the email address they provided, and forex traders can click on the embedded link to verify their email.
  4. Forex traders will be redirected to the Axi website where they can select their password before they can proceed.
  5. Next, forex traders can select whether they wish to register a Standard or a Pro Account followed by their base currency and level of leverage from 1:100 to a maximum of 1:400 (up to 1:30 for retail forex traders and EU clients).
  6. Forex traders are then taken through the basics of the application where they must provide additional personal details.
  7. Next, forex traders must verify their account by submitting their proof of identity and residence, which may not be older than 3 months, or forex traders can skip this step for now, and come back. However, trading cannot commence before completing the KYC process.
  8. Forex traders must provide their employment status information, financial information, and their trading experience. Lastly, forex traders can agree to the Terms and Conditions and proceed.

What are the Forex Trader Account Types with Axi?

Forex Trading Platform and Financial Asset Management Institution Axi has 4 different account types that are offered.

Axi Account Types are listed below. 

  1. Demo Account

  2. Islamic Account

  3. Standard Account

  4. Pro Account

 

  • Demo Account

Axi offers forex traders access to a free demo account that can be used for a variety of purposes. The demo account can either be used by beginners to practice trading or by more advanced forex traders who want to test out their trading strategies before they use them in a live trading environment.

In addition to this, the demo account offers the perfect opportunity for forex traders to explore what Axi has to offer before they decide to register a live trading account.

  • Islamic Account

Axi offers Muslim forex traders who follow the Sharia law and thus unable to receive or pay interest, a Swap-free or Islamic Account. This is an option that can be selected during the normal account registration process, converting the live trading account to that of an Islamic Account, allowing Muslim forex traders to keep their positions open for longer after the trading day has concluded.

However, forex traders must note that Axi reserves the right to revoke the Swap-free status of any account if it is suspected that the account is being misused, there are any suspicious trading activities, or the account operates outside the realm of good faith.

  • Standard Account

The Standard Account is suited to most forex traders who wish to have access to a variety of financial markets while receiving competitive trading conditions. The Standard Account offers the following features:

  • Free setup of the account.
  • Spreads that start from 0.4 pips.
  • Commission-free trading.
  • Minimum trade size of 0.01 lots.
  • $0 minimum deposit requirement.
  • Access to more than 140 forex pairs and metals, and CFDs.
  • 5-digit pricing.
  • Access to mobile trading and MetaTrader NextGen.
  • Maximum leverage up to 1:30 for retail and EU forex traders.
  • Base account currency in AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD.
  • Demo account access of 30 days.
  • Access to Expert Advisors.
  • Free VPS access depending on trading volumes.
  • Free access to AutoChartist, MyFXBook AutoTrade, PsyQuation, and PsyQuation Premium.

 

  • Pro Account

The Pro Account offers professional forex traders with some of the best trading conditions and most competitive trading fees in the industry. The features of the Pro Account are as follows:

  • Free setup of the account.
  • Spreads that start from 0.0 pips.
  • Commissions of $7 per round trip.
  • Minimum trade size of 0.01 lots.
  • $0 minimum deposit requirement.
  • Access to more than 140 forex pairs, metals, and CFDs.
  • 5-digit pricing.
  • Access to mobile trading and MetaTrader NextGen.
  • Maximum leverage up to 1:400.
  • Base account currency in AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD.
  • Demo account access of 30 days.
  • Access to Expert Advisors.
  • Free VPS access depending on trading volumes.
  • Free access to AutoChartist, MyFXBook AutoTrade, PsyQuation, and PsyQuation Premium.

How to Withdraw Money from Axi?

To withdraw money from Axi, the following should be done:

  • Forex traders log into their MT4 account and select the option to withdraw funds.
  • Forex traders can select their preferred method of withdrawal, amount, and currency.
  • Forex traders can complete the necessary prompts according to their payment method and submit their withdrawal requests.
  • Forex traders must note that, based on their withdrawal method, withdrawals may take a few business days to reflect in their bank account.
  • According to the official Axi website, withdrawals are processed within one to two business days upon receipt.
  • The corresponding account that Axi makes payment to must be in the same name as the trading account.
  • Additional information may be requested by Axi to prove that the beneficiary account is in the name of the trader.

How many days do deposits take with Axi?

Deposits may be instantaneous when using Credit/Debit Cards and selected e-payments, however, when using bank transfers, deposits can take up to five business days to reflect.

What are the costs and fees with Axi?

There are four types of costs with Axi namely spreads, commissions, swap fees, and margin requirements. 

The spread can be described as the difference between the bid/ask price that is indicated in pips. Axi offers floating spreads which mean that spreads are dependent on the financial instrument and the market conditions.

Commissions charged by Axi are a flat fee charged on the Pro Account per round trip whereas swap fees are either credited or debited, depending on the financial instrument and the position that the trader holds, whether long or short.

Margin is the amount that must be paid when opening the trade which is collateral for the trade.

What are the Trading Fees with Axi?

The Forex Trading Fees with Axi are below. 

The Standard Account:

  1. Spreads: from 0.4 pips.
  2. Commissions: None

The Pro Account:

  1. Spreads: from 0.0 pips.
  2. Commissions: from $7 per round trip.

What is the minimum deposit in Axi?

Axi does not require a minimum deposit, however, forex traders are advised to deposit at least $200 to cover margin requirements when opening a trade.

What are the contract specifications in Axi?

Feature Axi
Forex Trading Yes
CFDs 50+
Forex Pairs 80+
Cryptocurrency (Physical) 0
Cryptocurrency (CFD) 1
Social Trading  No

Does Axi have promotional offers?

No, Axi does not have any promotional offers.

The official Axi website does not include a section dedicated to promotions.

Does Axi have a welcome bonus?

No, Axi does not offer a welcome bonus.

The official Axi website does not feature a section for promotions and bonuses. Thus, it cannot be determined whether Axi will offer this in the future.

Does Axi have a deposit bonus?

No, Axi does not have a deposit bonus.

The official Axi website does not indicate any past, current, or future deposit bonuses.

Is there a commission-free trade bonus in Axi?

No, Axi does not offer forex traders a commission-free trade bonus.  

Is there a VIP bonus in Axi?

No, Axi does not offer forex traders a VIP bonus.

Can you start trading with no money at Axi?

Yes, you can start trading with no money at Axi. However, to meet margin requirements for trades, forex traders are advised to deposit at least $200.

How does leverage work with Axi?

Leverage is a useful tool that brokers offer to their clients. This helps them open larger positions despite their initial deposit, maximizing their potential profits. However, leverage also increases the risks that forex traders are exposed to when it is misused or used incorrectly.

forex traders can adjust their leverage ratio on their trading account from the MetaTrader 4 trading platform.

Where are the headquarters of Axi?

Axi is headquartered in Sydney, Australia with offices in the United Kingdom, China, Germany, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore, and Spain.

Who is Axi’s CEO?

The CEO of Axi is Rajesh Yohannan who has held the position since June 2016. Rajesh Yohannan attended the Indian Institute of Management, Calcutta where he completed and obtained his MBA.

What are the social media accounts of Axi?

forex traders can follow Axi on the following social media accounts:

  • Facebook
  • Twitter
  • LinkedIn

How many employees do work for Axi?

There is no official source that suggests the precise number of employees with Axi, however, from their operation size, Axi’s employees can vary from 250 to 500 employees.

What are the opinions about Axi?

Axi is a well-established online trading broker that offers its services to thousands of forex traders in more than 150 countries. Axi has built a good reputation in the trading industry and is known for its transparent fees and competitive trading conditions.

What are Axi Contests?

Axi does not offer contests.

There is no relevant section indicated on the official Axi website for contests. There are no announcements pertaining to future or upcoming contests.

Does Axi have online support?

No, Axi does not have online support. Axi can only be contacted telephonically, via email, or by completing the online contact request form.

Does Axi offer demo accounts for Forex trading?

Yes, Axi offers a free demo account for all new forex traders. The demo account can be opened with the following steps:

  1. forex traders can visit the official Axi website and select the banner for “demo account”.
  2. forex traders can complete the online application by providing their first and last name, mobile number, country of residence, and email address.
  3. Once completed, forex traders can accept the Privacy Policy and select whether they wish to receive the free daily market analysis.
  4. forex traders can select “start your FREE demo” and an email will be sent to the address they provided containing their demo account details and the link to download MetaTrader 4.
  5. Once downloaded and installed, forex traders, can use these credentials to log in. Alternatively, forex traders can use the mobile app or the MT4 WebTrader.

Does Axi have a mobile app for Forex trading?

Yes, Axi offers a mobile app for forex trading through the MetaTrader 4 mobile app.

With the MT4 mobile app in conjunction with an Axi trading account, forex traders are offered the ultimate flexibility and full market coverage. forex traders are also granted access to live pricing, real-time charting, and the latest updates on trends.

Does Axi publish an economic calendar?

Axi does not publish an economic calendar.

An economic calendar is a trading tool that is provided by brokers, allowing forex traders to gain access to relevant economic information that is scheduled to be released. 

What is the communication information of Axi?

Axi has two main telephone numbers and two main business addresses.

Axi can be reached telephonically on the following:

Australia: 1300 888 936

UK: +44 203 544 9646

Axi’s business addresses are as follows:

Australia: Level 10, 90 Arthur Street, North Sydney, NSW 2060.

United Kingdom: 30 – 38 Leadenhall Street, London, EC3A 1AT.