Note: For some unknown reason, we cannot open MultibankFXs official site (https://www.multibankfx.com) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

General Information & Regulation

MultibankFX, a trading name of MEX Group Worldwide Limited, is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with over 1,000+ tradable financial instruments with leverage capped at 1:500 and variable spreads from 0.0 pips on the leading MetaTrader4 and MetaTrader5 trading platforms, as well as a choice of three different live account types.

As for regulation, it has been verified that MultibankFX has four different licenses, but they are all suspicious clone, that is why its regulatory status on WikiFX is listed as “Suspected Fake Clone” and it receives a relatively low score of 1.42/10. Please be aware of the risk.

Field Survey

The investigators went to London, UK, to visit the foreign exchange dealer MultibankFX as planned. However, they did not find the dealers office at the publicly displayed address. The dealer may just borrow the address to register the company without a real business place. Investors are advised to choose the dealer carefully.

Market Instruments

MultibankFX advertises that it offers access to more than 1,000 trading instruments in financial markets, including forex pairs and CFDs on indices, commodities, precious metals and shares.

Account Types

MultibankFX claims to offer three types of trading accounts, namely Maximus, MultiBank Pro and ECN Pro. The minimum initial deposit amount is $50 for the Maximus account, while the other two account types have much higher minimum initial capital requirements of $1,000 and $5,000 respectively.

Leverage

The leverage offered by MultibankFX is capped at 1:500, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

MultibankFX claims that different account types can enjoy quite different spreads. Specifically, the spread on the Maximus account starts from 1.4 pips, the MultiBank Pro account has spread from 0.8 pips, while only the ECN Pro account holders can enjoy raw spreads from 0.0 pips. These spreads are all below the industry average of 1.5 pips.

Trading Platform Available

Platforms available for trading at MultibankFX are said to be the industry-standard MetaTrader4 and MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

MultibankFX says to accept payments with credit cards like Visa and MasterCard, bank wire, Neteller and Skrill. The minimum initial deposit requirement is said to be only $50.

Bonuses & Fees

MultibankFX claims to offer all kinds of bonuses, covering the 100% bonus, the 20% bonus, Imperial bonus and Refer a Friend bonus. Just take the 20% bonus as an example: the minimum deposit required for it is $1,000. Clients who wish to withdraw $200 of their bonus must trade 80 lots for every $200 they wish to withdraw. Additionally, clients must complete the trading requirements within 90 days of receiving the bonus. Clients who fail to meet the deadline will only receive a percentage of the bonus.

In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

Also, the broker also charges an inactivity fee. If a trading account stays inactive for 3 months, a monthly fee of $60 will be charged. However, other licensed brokers give a grace period of 6 months or even 1 year.

Customer Support

MultibankFX‘s customer support can be reached by telephone: +44 203 953 8381 (English), +62 02129264151 (Indonesian), +351 304 500 657 (Portuguese), +400 120 8619 (Chinese), +49 69 257377474 (German), +1 833 291 1788 (French), +7 499 609 46 73 (Russian), +34 931 220 671 (Spanish), +84 28 44581652 (Vietnamese), email: cs@multibankfx.com, cncs@multibankfx.com, cs.mys@multibankfx.com. You can also follow this broker on social media platforms such as Twitter, Facebook, Instagram, YouTube and LinkedIn. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

Let's start here

AxiTrader Limited (Axi) is the real deal, with over 220 trading options in forex, shares, indices, commodities, cryptocurrencies, and IPOs – they're all on the menu. Minimum deposits start at $0, the broker offers competitive spreads from 0.0 pips on major currencies on the Pro account, and here is the cool part: traders can use ECN execution for direct market orders. As for the platform, it's none other than the legendary MetaTrader 4 as well as Copy Trading App. With a touch of pride, they served hundreds of thousands of traders across 100 countries. Want to see if Axi's trading environment lives up to its claims? Time for some exploration!

Axi Information

Axi (formerly AxiTrader) was founded in 2007, and has since expanded its presence to include offices in other regions, including Latin America, Asia, and the Middle East. Axi welcomes all kinds of traders of all skill levels. If you're new to trading and want to start without too much capitalspending much, the $0 minimum deposit and user-friendly platform are great. Irrespective of a traders skill, there are many options to trade, good spreads, and lightning-fast execution. And for those inclined towards advanced features, Axi's ECN system and MetaTrader 4 platform are a notable combination.

In 2023, Axi also launched their innovative capital allocation program called Axi Select. Axi Select gives talented traders the opportunity to trade their way to the top and get funding of up to $1,000,000 USD and keep up to 90% of their profits.

Pros & Cons

Taking a look at Axi, we spot its share of upsides and downsides. Let's start with the bright side, it's got the backing of multiple solid financial authorities, numerous instruments you can trade, and they let you practice with a demo account. Plus, they've got the MT4 platform. They offer customer support in 13 languages, and deposits and withdrawals are seamless.

Is Axi Legit?

Considering the pivotal aspect for brokers, that is regulation, it's indeed comforting to note that AxiTrader is under the oversight of regulatory bodies from four distinct nations, including Australia, the United Kingdom, Cyprus, New Zealand, and UAE.

Advancing further, let's undertake a more detailed exploration of the regulatory licenses secured by Axi.

Regulated Country	Regulated by	Regulated Entity	License Type	License Number
	ASIC	AXICORP FINANCIAL SERVICES PTY LTD	Market Making (MM)	000318232
	FCA	Axi Financial Services (UK) Limited	Market Making (MM)	466201
	CySEC	Solaris EMEA Limited	Market Making (MM)	433/23
	FMA	AXICORP FINANCIAL SERVICES PTY LTD	Straight Through Processing (STP)	518226
	DFSA	AxiCorp Financial Services Pty Ltd	Retail Forex License	F003742

Axi's Australian entity, Axi FINANCIAL SERVICES PTY LTD, is regulated by Australia Securities & Investment Commission (ASIC) under regulatory license number 318232, holding a license for Market Making (MM).

Notably, this license's credibility gains support from WikiFX's investigators. They physically traveled to the institution's registered address for thorough verification. At Level 10, 90 Arthur Street, North Sydney, NSW 2060, Australia, they found a functioning office, confirming the broker's operational status and significant scale. Behold, an image capturing the tangible office space of this company.

In addition to being regulated by ASIC, this entity is also regulated by Financial Markets Authority (FMA) in New Zealand, with regulatory number 518226, holding a license for Straight Through processing (STP).

Now, let's examine the third license. Axi's UK branch, known as Axi Financial Services (UK) Limited, is overseen by Financial Conduct Authority (FCA) and has been granted regulatory license number 466201. This license permits them to engage in Market Making (MM) activities as well.

Axi also follows regulations from Dubai Financial Services Authority (DFSA) in the United Arab Emirates under regulatory number F003742, authorized for Retail Forex activities.

Solaris EMEA Limited is regulatd by Cyprus Securities and Exchange Commission (CySEC) with a Market Making (MM) license no 433/23.

Market Instruments

Axi gives you access to 220+ trading choices across 6 categories: forex, shares, indices, commodities, cryptocurrencies, and IPOs.

Account Types/Fees

Axi offers three account types tailored to different trading needs, namely Standard, Pro, and Elite. You can find detailed account features in the table below:

Demo Trading

Also, Axitrader gives users free demo accounts that last for 30 days and include $50,000 in virtual funds. Demo accounts offered by Axitrader shine in these areas:

• Practice Trading: You get $50,000 in virtual money to practice trading however you like.
• Personal Support: You'll have a dedicated Account Manager and support available 24/5 to help you.
• Real-Time Info: You can see live spreads on the popular trading platform, MT4.
• Live-Like Demo: The MetaTrader 4 Demo account mimics the real market, so you can practice effectively.
• Switch to Real: When you're ready, you can turn your demo account into a real one by funding it.
• Currency Options: You can choose your account's base currency from options like AUD, EUR, GBP, USD, CHF, and PLNX.

However, base currency cannot be changed once created.

Besides, they also offer special Islamic trading accounts for Muslim traders that follow Shariah law.

Leverage

The leverage offered by AxiTrader is capped at 500:1. This means that traders can open positions with a much larger amount than their initial investment.

However, high leverage can also lead to significant losses if the trade does not go as expected. Traders should exercise caution and use proper risk management strategies when trading with high leverage. Axi provides educational resources and tools to help traders understand the risks associated with leverage and how to manage them effectively.

Trading Platforms

Axi offers traders the popular MetaTrader 4 (MT4), which is a widely used platform that offers a wide range of charting and technical analysis tools, customizable indicators, and the ability to use automated trading strategies through Expert Advisors (EAs). The MT4 platform is available for download on PC and Mac computers, as well as on mobile devices for both iOS and Android.

Additionally, Axi offers the MT4 WebTrader, which allows traders to access the platform directly from their web browser without the need for any downloads or installations.

Axi Trading Platform and Copy Trading App are also available.

Trading Tools

There are a range of trading tools designed to enhance the trading experience for its clients. These include Myfxbook Autotrade, which allows traders to follow and copy the trades of experienced traders, MT4 signals which provide real-time trade ideas and analysis, MT4 VPS hosting which offers a dedicated virtual private server to ensure optimal performance and minimal downtime.

Additionally, the broker offers a suite of calculators to help traders with their risk management and trade analysis, such as Profit/Loss Calculator, Pip calculator, and Currency converter. These trading tools can be very helpful for traders to better understand their trades and manage their risk effectively.

Deposit & Withdrawal

Axi stands out from other brokers as they don't require any money to start trading. Here's why it matters:

• Access: With no minimum deposit, anyone who passed onboarding journey can join and trade. Traders require a low minimum deposit upfront.
• Risk: Starting with a low minimum deposit, you can manage your risk tolerance based on whats best for you.
• No minimum deposit: Traders have the flexibility to deposit an amount they are comfortable with.
• No Pressure: You don't feel pushed to deposit a certain amount. It's more relaxed and trader-friendly.
• Learn and Experiment: You can try different strategies and learn without needing a big investment upfront.

Axi welcomes traders to fund their accounts through the following payment methods: Credit/Debit cards, and Bank Transfers, Skrill, Neteller, Fasapay, Cryptos, with no fees charged by Axi for any payment method. However, traders should be aware that some international banking institutions may charge fees for transfers, for which Axi accepts no responsibility.

Please also note that payments to Axi via credit/debit cards may be viewed as a cash advance by some banks, potentially incurring additional fees. Deposits made via credit/debit cards and POLi are processed instantly, while bank transfer deposits and withdrawals can take 1-3 business days to be processed.

Payment Methods	Currencies	Min Deposit	Min Withdrawal	Fee	Time
	AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD	5 USD	/	❌	Instant
			/
	CAD, EUR, GBP, PLN, USD		5 USD
	AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD	/	50 USD		1-3 days
	AED, INR, GBP, EUR, USD	5 EUR	5 USD
	Vary depending on countries	/	/
	IDR, USD	5 EUR	5 USD
	/	30 USD	50 USD
	BRL	50 BRL	/		Up to 12hrs

Remember, these fees can change and might be different based on how you're making the payment. To stay updated, it's a smart move to reach out to the broker and get the most recent fee details before you decide to deposit or withdraw any funds.

Education

Axi makes learning easy with a variety of educational resources. If you're using the MT4 platform, their step-by-step video tutorials are there to guide you. They also offer Free eBooks, covering everything from basics to advanced topics. Stay updated on market trends through the Axi Blog, which features expert insights and daily analysis. For structured learning, the Axi Academy provides courses on forex, technical analysis, and risk management. If you're diving into cryptocurrencies, the Crypto Glossary will help you grasp the terms.

Customer Support

Axi's customer service is comprehensive and available 24/5 in multiple languages, with live chat, phone, email, WhatsApp, and a help center. This means that clients can easily get in touch with the Axi support team whenever they need assistance or have any questions. The availability of multiple communication channels ensures that clients can choose the most convenient way to contact support.

Additionally, the Help Center offers a range of resources and frequently asked questions that can help clients find answers to their questions quickly and efficiently.

Conclusion

All things considered, Axi is a well-regulated and reputable broker that offers 220+ instruments for trading, including forex, shares, indices, commodities, cryptocurrencies, and IPOs. They also offer multiple account options, free demo accounts, and leverage up to 500:1. In addition, their MT4 trading platform is robust and feature-rich, with various tools and resources to support traders.

Overall, Axi is a good choice for experienced traders who are looking for a diverse range of trading opportunities and who prioritize a broker's reputation and regulation.

Frequently Asked Questions (FAQs)

Is Axi regulated?

Yes. Axi is regulated by ASIC (Australia), FCA (UK), CySEC (Cyprus), FMA (New Zealand), and DFSA (UAE).

Does Axi offer demo accounts?

Yes.

Does Axi offer the industry-standard MT4 & MT5?

Yes. Axi supports Copy Trading App, MT4, and MT4 WebTrader.

Risk Warning

CFDs carry a high risk of investment loss, this content is for informational purposes only and should not be construed as investment advice.