Axi, formerly known as Axitrader, is an online brokerage site that has been in the business since 2007. It rebranded into Axi in 2020 with a whole new set of trading offers capped by Ultra-competitive pricing, lightning-fast execution, a rock-solid platform, and an award-winning 24/5 customer service.
In this Axi review, you will get to know important scoops about its features and services as well as the considerations that you need to look closer into before deciding to make an Axi login.
Axi Background & Safety
Axi is a Sydney-based firm founded in 2007. Now established as a worldwide forex broker, Axi is proud to be one of the few brokerage sites to cross the $100 billion trade volume mark with its customer trading worldwide (thanks to its linkages to different financial firms). With over 60,000 traders across 100 countries worldwide, Axi continues to expand as a brokerage firm and customer support is fortified by its 8 global sites.
Though Axi is not connected to a bank that can be used as an intermediary and cannot be accessed by public traders, the broker is regulated by the Australian Securities and Investments Commission (ASIC). The Financial Conduct Authority (FCA) approves and regulates its London activities, while its Middle East site is under the Dubai Financial Service Authority (DFSA).
In this regard, we can conclude that Axi is a safe broker as it adheres to international regulatory standards set by its regulating authorities.
Axi also takes pride in its offered trading conditions that set the broker apart from other online trading sites. With Axi, traders get access to ultra-competitive pricing; raw spreads, high liquidity, flexible leverage; high-performance, innovative trading technology; Lightning-fast execution, rock-solid platform; award-winning 24/5 customer service; free education to sharpen your skills, and; self-service portal + multilingual support.
Axi Features & Fees
Axi offers a basketful of tradable assets in Commodities, Forex (80 currency pairs), Indices, and Cryptocurrency in CFDs.
Axi offers its clients access to competitive spreads for its trading accounts. Axi’s offered accounts include the Standard and the Pro. But in terms of account ownership, Axi has three other account types classified as the individual account, joint account, and the corporate account.
It came to us as a surprise that opening an account with Axi through either the Standard or Pro does not cost users any amount. Axi has no minimum initial deposit for either account. However, you still need to fund your trading account in order to start trading.
The Standard Account features a higher spread while the Pro Account features a lower spread. A $7 round trip commission is charged for Pro account users. U.K.-based traders can open Axi’s special account called Spread Beating account which is a tax-free account.
The broker does not fine its customers for account inactivity and charges low trading fees. Along with an Islamic account option, a demo account is also offered by the broker for traders who want to test their trading strategies without financial risks.
Axi offers several funding methods to its clients. Some of these include credit/debit cards, bank transfers, Sofort, GIroPay, IDeal, Neteller, Skrill, Polish internet banking, and Global Collect.
There are charges for deposit and withdrawal transactions for any funding method mentioned above. More so, the broker implements high industry standards of encryption for its online payments and apply extra validation measures, such as ensuring all deposits and withdrawals match up with the name on the client’s credit card.
Unlike other brokers, Axi makes it easy for its clients to make deposits and request withdrawals at any time through its online Client Portal.
As of writing, Axi does not display any promotional program offerings to its traders. It could be a good addition to the broker’s service and features to attract more traders.
Axi Trading Platforms & Tools
Axi provides traders the MetaTrader 4 platform in several versions. MT4 versions include MT4 for PC, MT4 for Mac, MT4 for Android, MT4 for iPhone, MT4 for iPad, and MT4 WebTrader.
Designed for desktop trading, MT4 for PC is powered with high performance and a full suite of features. It is also customized for usability on Mac operating system through the MT4 for Mac version.
With MT4 for Android, MT4 for iPhone, and MT4 for iPad, you can access all the major features, with flexibility and portability. Lastly, WebTrader gives you access to your MetaTrader 4 account from your web browser. This platform provides users with comprehensive functionality with added flexibility to trade from any internet browser, on any device.
Axi houses a comprehensive educational package for its users. It provides enriching materials such as Beginner’s Guide to Forex, CFD Trading Basics, Getting Started, video tutorials, along with seminars and webinars. More so, the broker offers free eBooks, markets blog, PsyQuation, and Axi Academy.
With good regulatory credentials, Axi is a safe choice among beginning traders searching for a safe haven. Novice traders can also capitalize on the broker’s zero deposit account opening and free-of-charge deposit and withdrawal transactions.
On the downside, however, if you are looking for a more advanced trading platform, Axi is not for you as it is limited to its MT4 offering. It also lacks in research tools and provision.