Risk Warning
Online trading involves significant 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.
General Information
What is Axi？
Axi is a forex and CFD broker that offers online trading services to retail and institutional clients. The company was founded in 2007 and is headquartered in Sydney, Australia. Axi provides its clients with access to a range of financial instruments, including Forex, share CFDs, indices, and commodities. Currently its not under any valid regulations, so please pay attention to possible risks.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
Axi has several advantages, such as a wide range of market instruments, MT4 trading platform, and no minimum deposit requirement. However, there are also some drawbacks, including no valid regulatory license and too many negative reviews from their clients complaining that they are unable to withdraw.
It's important to note that this table is not exhaustive and there may be additional pros and cons to consider when evaluating Axi as a potential broker.
Axi Alternative Brokers
There are many alternative brokers to Axi depending on the specific needs and preferences of the trader. Some popular options include:
XM - offers a wide range of financial instruments, a variety of account types, and a user-friendly platform with low trading costs.
Trade Nation - offers commission-free trading, negative balance protection, and an easy-to-use platform, making it a good choice for beginner traders.
DBG Markets - offers competitive spreads, a variety of account types, and multiple trading platforms, making it a suitable choice for traders of different levels and preferences.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Is Axi Safe or Scam？
It is concerning that Axi does not currently hold a valid regulatory license, and the fact that their Financial Conduct Authority FCA license is unauthorized and Australia Securities & Investment Commission ASIC license is exceeded does not inspire confidence in their compliance with regulatory standards.
While Axi claims to offer segregated funds, it is important to note that this alone is not a guarantee of safety, as there have been cases in the past where even regulated brokers have misused client funds. Therefore, it is important to exercise caution when dealing with Axi, and to carefully consider the risks before deciding to trade with them.
Market Instruments
Axi offers a diverse range of over 130 financial products that cater to the needs of traders and investors. This includes major and minor forex pairs, share CFDs from some of the world's biggest stock markets, indices from around the globe, commodities such as gold, silver, and oil, as well as a variety of other precious metals. With a wide range of products to choose from, Axi provides traders with the opportunity to diversify their portfolio and take advantage of different market conditions, whether it's through short-term trading or long-term investing strategies.
Accounts
Demo Account: Axi provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: Axi offers a total of 3 account types: Standard, Pro and Elite. Standard and Pro accounts are suitable for all clients, while Elite account is Professional clients only. There is no minimum deposit requirement for Standard and Pro accounts, while $25,000 for Elite accounts. If you are still a beginner and don't want to invest too much money in Forex trading, a Standard account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.
Islamic (swap-free) accounts are also available.
Leverage
Axi offers competitive leverage for both retail and professional clients. Retail clients can access up to 30:1 leverage, which allows them to control a larger position with a smaller amount of capital. Meanwhile, professional clients can access even higher leverage of up to 400:1, which may provide more flexibility for experienced traders.
It is important to note, however, that trading with high leverage can also increase risk, so clients should carefully consider their trading strategy and risk management before taking advantage of Axi's leverage offerings.
Spreads & Commissions
Spreads and commissions vary based on the account type and instrument being traded. Standard accounts have spreads starting from 0.4 pips and do not have any commission fees. Pro accounts have raw spreads starting from 0.0 pips with a commission of $7 per round trip. Elite accounts also have raw spreads starting from 0.0 pips, but with a reduced commission of $3.5 per round trip.
It's worth noting that the spreads and commissions may differ based on the trading instrument being used, so it's important to check the relevant information before trading.
Below is a comparison table about spreads and commissions charged by different brokers:
Note that the spreads and commissions may vary depending on the account type and trading instrument.
Copy Trading
Axi's Copy Trading service, provided in collaboration with London & Eastern LLP, offers clients a straightforward way to identify and replicate successful traders' strategies. This service doesn't involve a managed fund, giving clients the flexibility to manage their risk as they see fit. The Copy Trading app allows clients to select from a pool of experienced traders to follow, analyze their performance and risk metrics, and automatically replicate their trades in real-time.
Trading Platforms
Axi provides its clients with a choice of popular and user-friendly trading platforms, including the MetaTrader 4 (MT4) platform for PC, Mac, Android, and iPhone, as well as the WebTrader platform. These platforms offer a wide range of trading tools, indicators, and charting options, as well as the ability to customize and automate trading strategies using Expert Advisors (EAs).
The MT4 platform is especially popular among traders due to its robust features, reliability, and ease of use. Additionally, the WebTrader platform allows for trading directly from a web browser, making it convenient for those who prefer to avoid installing software on their devices.
See the trading platform comparison table below:
Trading Tools
Axi provides various trading tools to help traders in their decision-making process. These tools include a Profit/Loss Calculator, which can help traders calculate potential gains or losses before opening a position. The Pip Calculator is also available to calculate the value of a pip, which is a unit of measurement used in Forex trading. Additionally, Axi offers a Currency Converter to help traders quickly convert one currency into another. These trading tools are available for free on Axi's website and can be useful for traders of all levels.
Deposits & Withdrawals
Axi accepts a wide range of payment methods for deposits and withdrawals, including credit/debit cards, bank transfers, e-wallets like Neteller and Skrill, and various local payment options like PIX, Boleto, and AstroPay.
The minimum deposit and withdrawal amounts vary depending on the chosen payment method.
Axi minimum deposit vs other brokers
Axi does not charge any fees for deposits or withdrawals. Most deposits are processed instantly, and withdrawals are typically processed within 1-3 business days. Overall, Axi's deposit and withdrawal options are convenient and diverse, allowing traders to choose the method that best suits their needs.
Fees
Apart from the spreads and commissions that we have mentioned above, there are no fees for deposits or withdrawals, but some payment methods may charge their own fees. Additionally, Axi does not charge any inactivity fees or account maintenance fees.
See the fee comparison table below:
Note that fees are subject to change and may vary depending on the account type and payment method used. It is recommended to check with the broker directly for the most up-to-date and accurate fee information.
Customer Service
Note: These pros and cons are subjective and may vary depending on the individual's experience with Axi's customer service.
Education
A variety of educational resources are available at Axi to help traders enhance their knowledge and skills. They offer seminars, webinars, articles, eBooks, market analysis, and trading education to help traders stay up to date with the latest market trends and developments. The educational resources cover various topics, including technical analysis, fundamental analysis, risk management, trading psychology, and more. Axi's goal is to empower traders with the knowledge and tools they need to make informed trading decisions and improve their overall trading performance.
User Exposure on WikiFX
On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Conclusion
Axi is a well-established online forex and CFD broker with competitive trading conditions, multiple trading platforms, and a range of trading tools and resources. However, Axi currently does not hold any valid regulatory license, which may raise concerns for some traders about the safety and security of their funds. Overall, while Axi has many positive attributes, traders should carefully consider the lack of a valid regulatory license before deciding to trade with the broker.
Frequently Asked Questions (FAQs)
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