Axi Broker Review 2024: How Good Is Axi?

Axi Overviews

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AxiCorp Financial Services Pty Ltd was established in 2007. They are an Australian online broker that deals in forex and CFDs and is regulated by three highly reputable authority commissions, including ASIC, FCA, and DFSA. They also boast of having over 60,000 traders that span more than 100 countries worldwide. What else do they offer?

Facts About Axi

Pros and Cons

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Is Axi Safe? Broker Regulations

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A crucial aspect to consider when choosing a broker is to understand and determine how safe they are. Reputable brokers will be regulated by various financial regulatory commissions depending on the regions that operate and for which entities these are.

Axi.com, if held under this criteria, is quite a reputable broker as three financial commissions regulate it. They are regulated by the U.K.’s Financial Conduct Authority (FCA) and the Dubai Financial Services Authority (DFSA). Lastly, they are also regulated by the Australian Securities and Investments Commission (ASIC).

Additionally, they have won numerous awards, which have bolstered their reputation as a safe and reliable broker. These awards include;

• 2012: “Best Spreads,” CiOT Expo
• 2013: “Best I.B. and Affiliate Program Worldwide,” CiOT Expo
• 2013: “Best Forex Broker Asia,” CiOT Expo
• 2013: “Most Recommended Forex Provider in Australia,” Investment Trends, Australia F.X. Report
• 2013: “#1 for Customer Service, Investment Trends”, Australia F.X. Report
• 2014: “Financial Institution of the Year,” Asia-Pacific Financial Investment Association
• 2014: “Strongest Brand Association with Being Trustworthy,” Investment Trends, Australia F.X. Report
• 2017: “Highest Overall Client Satisfaction”
• 2017: “Most Reliable Forex Broker”
• 2018: “Best MT4 Broker”
• 2018: “Best MT4 Provider”, U.K. Forex Awards
• 2018: “Most Trusted Forex Broker”, U.K. Forex Awards
• 2019: “Best MT4 Forex Broker”
• 2019: “Best Forex Broker Europe”
• 2019: “Best Forex Broker Middle East”
• 2020: “Best EMEA Region Broker Award”

Lastly, they have also been rated on TrustPilot as having a 4.3-star rating out of a possible 5 stars, which encompasses reviews from over 1,250 Axi.com users.

With its numerous awards, being regulated by three financial commissions, and a positive review from over 1,200 users, we can confidently say that Axi.com is quite safe and reliable.

What Can I Trade with Axi?

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Like with many online brokers, Axi.com lets you trade assets in the form of CFDs. This means in terms of all the assets that they offer; you are not actually purchasing the asset but rather taking a position and estimating the future value of the asset.

In terms of assets, Axi.com lets you trade the typical format of assets, including forex pairs, stocks (shares), crypto, Indices, and commodities. Axi specifies that you can also trade oil and precious metals, but typically these are forms of commodities and should be warranted as such. Let’s look over the assets that Axi.com provides its clients in more detail

Forex

Axi offers its clients the ability to trade over 70 forex pairs and boasts of having super competitive spreads with super fast execution times. This means that when you open a forex position (or close one, for that matter), it will do so as fast as possible. The standard major, minor, and exotic pairs are included in their forex.

You can check out their live forex rates in terms of spreads here. Remember that some brokers may not charge a commission but will take an amount based on the spread (bid/ask price). This is important to understand, especially when trading popular currency pairs or exotics.

Stocks (Shares)

In terms of shares, Axi offers 50 to choose from. These shares are based on popular companies from the U.S., U.K., and European markets. It should be noted that Axi does not take a commission when you choose to open a position on a share’s assets, and you can even earn direct dividend payouts if you hold the position for long enough.

Remember that due to trading in share CFDs, you have the opportunity to open up a short position (essentially betting against the price of the share). Here is a table of some of the shares available to trade based on company location.

Indices

Clients can also trade Index Cash CFDs like the AUS200, EU50, GER40, and US500, among others. There are over 30 Indices in total that you can trade, and it also includes Index Future CFDs, like the DAX40.fs, the FT100.fs, and more.

The spreads are quite competitive, starting as low as 0.2 pips, but we will take a closer look at these when we dive into the available accounts Axi.com offers.

Commodities

Their commodities assets list is quite mediocre, and they only offer the standards in terms of oil, precious metals (gold and copper), coffee, natural gas, and soybean. Even though you cannot choose a wide range, there are some benefits. The margin for taking on a position is as low as 1%, there is zero commission, and the leverage on their commodity CFDs is 1:100.

Crypto

Lastly, they offer clients the choice to jump into the crypto market and take CFD positions on cryptocurrencies like Bitcoin, Ethereum, Litecoin, and the rest. For the most part, you will be trading against the USD, but there are one or two instances where you will be able to trade crypto against the Japanese Yen.

The leverage for trading crypto can go as high as 1:200, and once again, because you are trading CFDs, you have the option to short a position rather than going long. This should be considered because the crypto market runs in a cycle, and if you also include technical analysis in your trading, then there is potential here.

It should also be noted that Axi offers their clients who open a standard account the opportunity to purchase crypto assets without needing a digital wallet. Crypto assets are purchased on a 1:1 basis, which is unlike their crypto CFDs. This zero commissions, you also have the ability to buy or sell your crypto assets 24/7.

You can take a look at their full product range (what assets you are able to trade) here.

How to Trade with Axi?

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In terms of the available platforms that Axi offers its clients, they are able to use MT4 (which is the standard amongst the worlds leading brokers) and their “copy trading” proprietary app. Their MT4 platform is available for Windows, Mac, and Android, while a MetaTrader web platform is also an option if you are perhaps not willing to install the application or need to manage a position when you are not on your device.

Their proprietary app (Axi Copy Trading) allows clients to copy trade other users that are also on the platform, allowing them to essentially “invest like a top trader.”. When copying a trader from another member on the platform, the client’s account will duplicate their trades in real-time.

What is interesting about the app (which is available on both the PlayStore and Apple Store) is that it is not a managed account like a MAM service. This means you will manage your own risk, and you can take on as much or as little as you would like depending on your personality, equity, and mood.

There is no limit in terms of what markets and positions you can trade with the Axi Copy Trading app. Here is a list of the markets you can trade using the copy trading app;

• Cryptocurrency
• Crypto Assets
• Stocks (Shares)
• Forex
• Commodities (oil and precious metals)
• Indices

If you want to know more about the traders, you can copy and would like to look at Axi’s select investor list; then you can check that out here.

Then, MetaTrader 4 is widely known and used as the common standard for brokers worldwide, and using it to trade is easy enough with a learning curve that is not difficult to manage. As we stated, it is available on PC and Mac, and then also via Android and the web platform. We will take a closer look at its features a little later.

How Can I Open Axi Account? A Simple Tutorial

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Opening an account with Axi.com is simple enough, and you will only need to visit their website to being the registration process.

Once their website is loaded, you will need to click on the “open account” button in the top right-hand corner. Performing this action will start the application process, which consists of three steps that include;

• Complete your application
• Confirm your ID
• Fund your account

Completing your application will have you filling in your credentials, such as your full name, phone number, Email address, and country of residence.

The ID confirmation process will then have you upload a picture of your driver’s license, photo ID, or book ID.

Once this is complete, your account will be created, and you will be able to log into the client area and fund your account. Note that you will also need to provide a copy of your bank statement and proof of residence during the application, so you are able to fund your account.

After this, you will need to collect your MT4 details from your account and use these credentials in the downloaded software or the web terminal. This will allow you to make trades.

Take note that before you open an account, it is important that you go through and read Axi’s client agreement and product disclosure statement.

If you want to create a live account, you can follow this link.

Axi Charts and Analysis

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Axi.com has quite a bit of trading resources that are available to the public and specifically to their clients. The first is MetaTrader 4 (which, as we said, is the standard trading platform that most online brokers use).

MT4 enables its users to develop expert advisors and customize indicators and scripts using the MQL4 programming language developed by MetaQuotes. It includes many other features which are beyond the scope of this review to dive into. However, some include;

• Moving averages indicator
• RSI indicator
• Bollinger bands indicator
• Fibonacci tools indicator
• Average true range indicator
• On balance volume indicator
• MACD indicator

They then have Myfxbook AutoTrade, which is available to clients and connects to their forex trading account through MT4. This allows users to;

• Create an online portfolio that lets users manage and monitor their trading accounts in one place
• It automatically analyzes data in said trading system using unique statistical tools
• It allows potential clients to see your particular trading performance by granting them access to audited trading results
• Provides users with an updated economic calendar

Axi.com also has what is known as PsyQuation. This software continuously analyses your trading performance, specifically your trading style. It then compares the data and provides intraday charting and current updated performance impact analysis. Essentially, this software monitors your trades, analyzes the data, and informs you how to make better trades.

It also allows you to look at the “profiles” of other traders and analyze their data and trades, effectively giving you the ability to break down trading into data and perhaps a better way to understand the markets in terms of analytics.

They also offer an array of “advanced trading tools,” which are features of MT4 that we have already discussed, including;

• MT4 Webtrader
• MT4 VPS hosting (added reliable in terms of connection)
• Signal providers (MT4 copy trading)
• Myfxbook

One of the last “add-ons” that they give their clients, which can be added to MT4, is Autochartist. This add-on connects to the software and continuously scans the markets automatically. When it does this, it is supposed to find targeted trade opportunities saving you valuable time.

Lastly, Axi.com provide Trading Resources, where you can find a forex economic calendar and facts regarding their Rollovers, Exchange holiday, and dividend forecast.

In terms of trading education, Axi.com offers a lot to draw from, which is free to the public. The list is long indeed, and here is what it includes;

• Learn To Trade
• MT4 Video Tutorials
• Seminars and Webinars
• Free eBooks
• Axi Blog
• Axi Academy
• Crypto Glossary

At a glance, the entire collection of available trading material could take a beginner trader from knowing absolutely nothing to understanding the fundamental concepts of CFD and forex trading, along with understanding how to use the MT4 software.

At the moment, there are no webinars or seminars, but the eBooks section and blog are quite interesting. These are free to download and learn at your own discretion and include the following;

• 7 lessons for understanding forex market types
• 13 exclusive pro tips for using chart setups
• 3 easy entry and exit strategies
• 3 ways to achieve your objectives with position sizing and system monitoring
• 3 rescues for when your system stops working

The blog contains updated financial news and articles on trading, as you would expect. The rest of the material is quite robust. If you are new to the world of trading and even if you are not considering using Axi as your broker, going through it would benefit you immensely.

Axi Account Types

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Axi offers three account types that include a Standard, Pro, and Elite account.

The standard account is the defaulted account you will open and has spreads going as low as 0.4 pips. However, this will depend on the instrument in question, and you should refer to their live forex spread page (which was provided) and their product list.

No commissions are charged on the Standard account, although USD 7 is charged as a commision on the Pro account. However, the Pro account does have a zero spread which can be great for forex traders looking to scalp trade, moving in and out of trades quickly.

The Elite account is the last account that Axi offers its clients, and it is based on a zero spread and low commission structure. However, you will need to make a USD 25,000 deposit to open this account, and the currencies you can trade in are limited. Professionals should only regard this account, and this can be overlooked as a beginner trader looking for a broker.

All markets and assets that Axi offers are available to trade on all three accounts, unlike some brokers that limit the number of tradable assets depending on the account in question.

The leverage for all accounts can go as high as 500:1, but you will need to look at the asset you want to trade because this high leverage can’t be applied to all instruments and markets.

It should also be noted that Axi offers trading accounts tailored to Islamic traders. These accounts feature no swap fees or interest payments. These accounts are perfect for clients who are unable to pay interest or earn due to religious beliefs.

Lastly, you are also able to open up a demo account and trade regardless of what live account you choose to open. However, you should take into consideration that demo accounts are only valid for 30 days.

Do I Have Negative Balance Protection with This Broker?

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Axi.com offers their clients negative balance protection as per the Risk Warnings section of their website. It states that if you are classified as a “retail client,” then you are afforded the protection of negative balance.

This essentially means that you can’t lose more than you deposited with Axi. For instance, if you open a position and you are stopped out, and the loss is more than what your account holds, Axi will cover the difference and bring your account back to zero.

In order to understand if you qualify as a retail client, it would be best to check with Axi.com and go through the details with them.

Axi Deposits and Withdrawals

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Axi allows you to deposit funds into your trading account in a multitude of ways, and there are too many to cover, but you can check out their full list of ways to deposit funds here. Depending on your region, there will be many payment methods, and no fees to fund your account will be charged. Here are some of the more popular payment methods that they offer;

The same methods used for depositing are applicable when you are choosing to withdraw. However, there are some considerations that you should keep in mind, and we have listed them for your below;

• All requests are processed within 1 to 2 business days
• Axi does not guarantee same-day receipt of funds
• Processing times are subject to banks
• The corresponding account must be in the same name as your Axi account
• Axi may require additional information to prove the beneficiary of the account

Support Service for Customer

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Axi has a few ways to take care of its clients in terms of customer support. They offer the ability to call them toll-free in many regions located across the globe.

Axi customer care numbers

Then you are also able to contact them via Email or Whatsapp if you prefer. Typically, brokers of this scale will respond relatively quickly to Emails, and you can expect a response within 24 hours of one business day.

Axi doesn’t specify what languages will be supported when dealing with customer support; they only specify that all local languages are covered. This would assume that anyone able to trade with Axi in terms of applicable countries would be able to have customer support representatives available in their local language.

You can also head to the Axi Help Center, their FAQ form. You will most likely be able to get an answer to almost any question you have here, as it covers everything from their partnerships to trading tools, MT4, and account information.

Lastly, you can also get hold of customer support via the online live chat feature that their website supports, which is available 24/5.

Prohibited Countries: Where Can I Not Trade with this Broker?

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Three different authority commissions regulate Axi, and as such, residents from over 100 countries are able to trade. However, there are still a number of countries that are not within the jurisdiction that allows Axi to operate. You will need to check the accounts page to see if your specific country of residence is available.

We were not able to find a comprehensive list of prohibited countries, and when searching through the help center, this is what we came across;

• “Axi has offices worldwide and is subject to the financial laws of numerous jurisdictions. Unfortunately, some countries are marked as high risk or where trading is not permitted, so we cannot open accounts for citizens in those countries.”.

We managed to find a limited list of prohibited countries that you can view below. One thing to note is that most international brokers do not allow individuals that reside in the United States to trade due to SEC (the Securities and Exchange Commission) rules.

You can also find more information on their jurisdiction policy which they provide here.

Special Offers for Customers

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There is no special customer offers such as sign-up bonuses, reward points, or gifts like other brokers have. However, they do offer an affiliate and IB partner program, which you could potentially look at if they apply to your situation.

Becoming an IB partner means earning a commission on every trade made by other clients you introduce to Axi. Some benefits of the IB program include daily payouts, advanced tracking and detailed statistics of accounts, and flexible numeration.

Then the Axi affiliate program is where you can earn up to USD 1,000 in commission per each qualified client. This essentially means if you have a way to generate traffic and send clients to Axi, you will earn a commission when they sign up.

They also offer MAM services, and although this is not particularly a special offer, it could be considered to be one if you are not, particularly a good trader, you are just starting out, and you have large equity you would like to invest. MAM accounts give you the opportunity to pool your money with other investors, and a manager uses the

Lastly, they also have a referral program where clients can earn up to USD 15 on every traded lot. This is based on 3 points rebate per 1 lot of Silver.fs or XAGUSD on Standard accounts, and each referral trades at least 1 lot Silver.fs or XAGUSD per day special.

Take note that all the promotions offered here have nothing to do with clients who open up an account and trade in the “normal” way. These bonuses are incentives, and the qualified rewards apply in different ways depending on the promotion in question.

Axi Review Conclusion: Reputable Broker with Easy-to-use Platform

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Axi.com is a reputable broker regulated by three authorities and has been in the "finance game" since 2007 (that is almost two decades). They have won multiple awards (almost 20, in fact) and have a very high score on TrustPilot.

PIPPENGUIN

Axi.com is a reputable broker regulated by three authorities and has been in the “finance game” since 2007 (that is almost two decades). They have won multiple awards (almost 20, in fact) and have a very high score on TrustPilot.

They offer a “widish” range of assets when it comes to forex pairs, but their other asset lists are quite limited. Although many individuals around the world can open an account, there are still prohibited countries that are not allowed to trade with Axi.

Their forex fees are low, and they also offer great support and an array of free educational material; plus, they have invested in their MT4 trading platform, giving it extra features. Thus if you like MT4, require lots of learning material, and want good customer support, then this broker may be for you.

Summary and Key Takeaways

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To summarize, Axi has been a reputable broker in the trading industry for almost twenty years and offers a wide range of forex pairs to trade and a limited amount of other assets. They also have won numerous awards and have a high trust rating on Trustpilot.

There are three accounts to choose from (not including a demo account), with no minimum deposit unless you are using a specific payment gateway. However, their elite account requires USD 25,000. There are offers in terms of getting other traders to sign up, and you will be rewarded via the IB program, affiliate, or referral program.

Trading and copy trading can be done using their mobile app or their particular version of MT4.

FAQs

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How long does Axi withdrawal take?

All withdrawal requests from Axi are processed within 1 to 2 business days. Consideration has to be accounted for in terms of bank process times and other payment method processing times.

How do I withdraw from Axi?

There are numerous ways to withdraw from Axi, including Skrill, Debit and credit cards, POLi, Bank transfers, Fasa Pay, Neteller, Crypto, and Skrill. These are some of the more popular methods, but you can see a full list of available methods here.

What is the minimum deposit for Axi?

No minimum deposit is required when opening up a Standard or Pro account with Axi.com. However, depending on how you fund your account (the payment method chosen) you may have to deposit between USD 5 and USD 30.

Their Elite account requires a minimum deposit of USD 25,000.

Is Axi a regulated broker?

Axi is regulated by three financial regulatory commissions, including;

• Australian Securities and Investments Commission (ASIC)
• Financial Conduct Authority (FCA)
• Dubai Financial Services Authority (DFSA)