Abstract:Recently, you may have heard about a report that Axi launched a $1 million capital allocation program called Axi Select, which shows the business capability this broker has. In this article, we make a comprehensive review of Axi so that you can hopefully have a deep understanding of this broker.
Recently, you may have heard about a report that Axi launched a $1 million capital allocation program called Axi Select, which shows the business capability this broker has. In this article, we make a comprehensive review of Axi so that you can hopefully have a deep understanding of this broker.
About Axi
Axi (formerly AxiTrader) gives you access to about 220 trading choices across 5 categories: forex, shares, indices, commodities, and cryptocurrencies. Yet, there are also other popular picks for trading, like ETFs, stocks, and options. It was founded in 2007 in Sydney, Australia, and has since expanded its presence to include offices in other regions, including Europe and the Middle East. AxiTrader welcomes all kinds of traders. If you're new and want to start without spending much, the $0 minimum deposit and easy platform are great. If you're more experienced, you'll like the many options to trade, good spreads, and quick execution. For those inclined toward advanced features, Axi's ECN system and MetaTrader 4 platform are a notable combination.
Is Axi Legit?
Axi is a regulated broker. Investing in regulated brokers is relatively safer than investing in unregulated ones.
Trading Platform
This broker uses MT4, and MT4 webtrader as its main trading platform.
Account Types
AxiTrader offers three account types tailored to different trading needs, namely Standard, Pro, and Elite. The Standard Account has no setup cost and starts with spreads from 0.9 pips. The Pro Account tightens those spreads to 0.0 pips with a $7 round trip commission, while the Elite Account, designed for advanced traders, features 0.0 pips spreads and a reduced $3.50 round trip commission. All accounts support trading from 0.01 lots, and mobile trading, and include MT4 NexGen. Leverage reaches up to 500:1, and you can choose base currencies among AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD. For the Elite Account, a minimum deposit of USD 25,000 is required.
Spread & Commission
Spreads and commissions with Axi are scaled with the accounts offered. Specifically, the spread starts from 0.4 pips on the Standard account, and 0.0 pips on the Pro and Elite account.
As for the commission, there is no commission on the Standard account, a commission of $7 round trip on the Pro account, and a $3.5 round trip on the Elite account.
WikiFX's Field Survey on Axi
WikiFX conducts field surveys to gather on-the-ground information about brokers. In the case of Axi, WikiFX confirms that the broker does indeed exist, which is a positive sign of legitimacy.
Exposures
Recently WikiFX received more than 40 complaints against Axi. Although Axi is a reputable broker, it is inevitable that some investors are not happy with this broker. Some people told WikiFX that this broker is getting involved in a scam. We show you the cases so you can understand the potential risks before making a decision.
Conclusion
Axi is a well-regulated and reputable broker that offers a wide range of markets and instruments for trading, including forex, shares, indices, commodities, and cryptocurrencies. 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.
However, there have been reports of issues with withdrawals and scams. The WikiFX score of a broker can be increased (or decreased) if the broker is constantly running the business in a good (or bad direction).
If you want more information about certain brokers' reliability, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find your most trusted broker.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Interactive Brokers has expanded trading hours for US Treasury bonds, now allowing trading for 22 hours daily.
Proprietary trading firms, commonly known as prop firms, have been gaining attention in the forex and cryptocurrency industry. These firms recruit traders to trade with their capital, offering potentially lucrative opportunities. However, the question arises: Are prop firms truly worth the hype?
CFI Financial Group integrates with TradingView, offering clients access to 4,000 trading instruments and a community of 50M+ traders, along with advanced charting tools for an improved trading journey.
Fintech start-up Midas has achieved a significant milestone by raising $45 million in equity funding, marking the largest Series A fundraising by a Turkish fintech firm, and the second largest across sectors.