Forex Trading

Axi Review Formerly AxiTrader year : Is It a Good Broker?

Customers can choose whether to open a practice standard or practice pro account. This account is designed for intermediate forex traders looking to minimise spreads when trading. To keep costs low, AxiTrader does not widen the spread but instead charges a commission of $7USD round trip for each standard lot. Axi believes that traditional ECN connections are too slow for today’s traders; layers of networks, cables, firewalls, and third-party platforms only add latency which costs the trader. To mitigate that, Axi goes directly to over 20 top-tier liquidity providers and uses co-located servers in key locations worldwide. As a result, the broker makes use of a shorter, therefore faster, connection.

After filling in the account creation forms and uploading the relevant documents, you will have to wait until the broker verifies your account. When your trading account is verified, you are welcome to fund your trading account using any of the payment methods available on the broker’s website. The website is encrypted to ensure the safety of your personal information. Axi offers bank wires, credit/debit cards, POLi, FasaPay, Sofort, GiroPay, iDEAL, Neteller, Bitcoin, Skrill, Boleto, Global Collect, and 17 regional online banking solutions. The only requirements are name, country, e-mail, phone number, and application type, which took me less than 30 seconds to complete.

  • Fundamental tools, training resources, trading education and expert coaching to help you continuously improve.
  • This forex trading account spreads are wider than their Pro account however the account has no commissions.
  • Axi provides traders with 50 currency pairs, six cryptocurrency pairs, 20 commodities, and 31 index CFDs.
  • This was backed up in 2017 when the Investment Trends Australian forex broker report gave it the highest overall client satisfaction.
  • As outlined above, a copy trading app is also available for investors who wish to copy the positions of other traders.

An index is a financial product that tracks the performance of an entire market, a market sector, or a specific group of assets. Trading indices is generally considered safer than trading individual stocks since no single company can sharply influence the overall price of the index. Traders who are looking to profit from some of the world’s most popular stocks can consider trading stock CFDs with Axi. These are spread across the major, minor and exotic currency pairs. Trading Forex with Axi gives you several advantages, including security and negative balance protection. Axi also offers a swap-free account type for clients of the Muslim faith who do not want to earn or pay interest.

Ultra-competitive pricing and fairer charges, so more of your money is invested in the markets. The time it takes to fund your account depends on the method you utilize. If you are looking for time efficiency, we suggest you implement a card or one of the supported e-wallets. MetaTrader 4 for PC and Mac is a highly flexible piece of software that gives you full control of your trading experience at Axi.

What is the communication information of Axi?

This is a legitimate company, not a scam, and is regulated by many international bodies. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. With Axi’s MT4 video lessons for beginners, you can learn how to utilise the world’s most popular trading platform. The broker has an education center with different free training materials for traders at all levels.

With just the MetaTrader platform available, and a limited range of investment products, Axi lags behind the best multi-asset brokers. TradingPedia.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Trading forex, stocks and commodities on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. Axi provides a competent support service available via live chat, telephone, and email. The chat is the easiest way to communicate with the support staff in real time.

Therefore, I consider it pointless, as traders use demo accounts to test applications and trading strategies, which requires significantly more than 30 days. Traders have access to two account types, the commission-free Standard and the commission-based Pro. I advise against the former, which despite the advertised minimum spread of 0.4 pips, carries costs roughly three times above that and beyond.

Advantage 1 – Axi Spreads

Axi requires a minimum deposit of $0 for all live account types, and it will not charge any fees on deposits. However, as with many brokers, you should be aware that there may be charges from the payment providers, which are beyond Axi’s control. Axi allows traders to use the world’s most popular trading platform, MT4, to trade the over 150 trading products it offers. The MT4 trading platform is available as a desktop application for Windows and Mac computers, WebTrader, and a mobile app that is compatible with Android and iOS devices. The WebTrader can be accessed through all popular web browsers, such as Chrome, Safari, Firefox, and Edge. At ForexBrokers.com, we track over 100 international regulatory agencies to help you choose the most well-regulated, highly trusted forex brokers.

Popular Forex Reviews

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. To open a Forex Trading account with Axi, a trader should follow the steps below. Take advantage of a world of trading opportunities available through copy trading.

Deals & Promotions

The detailed list can be found on the official website or in our review. For EU traders, Axi has a comprehensive selection of educational tools, including webinars, video tutorials, online education and e-books. As outlined above, a copy trading app is also available for investors who wish to copy the positions of other traders. The most cost-effective option for a customer is usually determined by trading volume and the list of assets they wish to speculate on.

Axi has built a good reputation in the trading industry and is known for its transparent fees and competitive trading conditions. To compare the trading platforms of both FOREX.com and Axi, we tested each broker’s trading tools, research capabilities, and mobile apps. Axi is an established platform that attracts the attention of traders worldwide with its competitive pricing, low spreads, and vast range of currency pairs.

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. 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.

Australian forex traders have different requirements from forex brokers ranging from leverage, fees to features. This Axi review was based on our trading platform comparison, axi forex broker focusing on broker features as a focal point. If you have a different priority, then visit our homepage and view our other forex broker comparison charts.