Axes Review and Tutorial 2020
|Traders in United States welcome|
|Axes Facts & Figures|
Axes offers multi-asset trading through the MT5 platform and mobile app.
• Best Forex Broker 2020 - Online Personal Wealth Awards
• Best Forex Broker of the Year 2019 - World Finance Magazine
• Best European Value Broker 2019 - Global Forex Awards
• Best Broker 2018 - Financial Times And Investors Chronicles Awards
• Best FX Service Provider 2018 - City Of London Wealth Management Awards
• Best Forex Trading Experience 2018 - UK Forex Awards
|Instruments||Forex, CFDs, indices, shares, commodities, futures|
|Min. Trade||0.01 lots|
|Regulated By||FSA, IFMRRC|
|Trade CFDs with leverage in multiple markets.|
Trade over 70 forex pairs with low spreads.
Trade Bitcoin & Litecoin against the US Dollar.
Axes is a forex and CFD broker offering online trading through the MT5 platform. In this review, we’ll look at minimum deposits, payment options, regulators, fees, and more. Find out if Axes is a safe and trustworthy broker.
Axes Company Details
Founded in 2018, Axes LLC is based in London and provides a high-quality trading experience to over one million accounts across 153 countries. The broker is regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines.
The broker has picked up a long list of international awards for its trading services and offers over 250 financial instruments across six asset classes, attracting both beginners and experienced traders.
The MetaTrader 5 (MT5) platform offers advanced trading tools, ideal for experienced traders. The platform provides fast and seamless trading on a customisable interface. Features include:
- 21 time frames and up to 100 simultaneous charts
- Ultra-fast execution (under 11.06 milliseconds)
- Buy Stop Limit and Sell Stop Limit orders
- 50+ customisable technical indicators
- Access to Expert Advisors (EAs)
- Trading Central daily feed
- Tick chart trading
- Market Depth
The MT5 platform is available for download on Windows and Mac PCs, directly from the broker’s website.
The web-based version of MetaTrader 5 is easily accessible from any major internet browser. Users can access all the same features as the desktop program, including over 50 customisable indicators such as Bollinger Bands and moving averages, as well as numerous graphs and charting tools. You can access WebTrader straight from the broker’s website, using your login details.
Axes offers over 250 CFDs across several main markets:
- Forex – Trade over 70 major, minor, and exotic currency pairs such as EUR/USD, USD/GBP, and USD/JPY
- Shares – Over 150 global company shares are available, including Apple, Facebook, and Visa
- Indices – Trade on global spot indices including the FTSE 100 and S&P 500
- Futures – Speculate on commodity-backed and indices-backed futures
- Energies – Trade CFDs on energies such as natural gas and oil
- Precious metals – Invest in gold, silver, and platinum
- Cryptocurrencies – Trade on Bitcoin & Litecoin
Spreads & Commission
Spreads on forex pairs start at 0.8 pips for the EUR/USD, 1.5 pips for the EUR/GBP, and 1.6 pips for the GBP/USD. Spreads are around 1 point for the FTSE 100 and 0.04 for Brent oil. For precious metals, spreads on gold are around 0.39. Overall, the broker is around average in terms of trading fees.
Clients should also be aware of swap charges for overnight positions and a monthly inactivity fee if accounts are unused.
Leverage at Axes varies depending on the asset:
- Shares – up to 1:25
- Forex – up to 1:500
- Metals – up to 1:200
- Indices – up to 1:500
- Energies – Up to 1:100
These are high leverage rates and allow clients to take sizeable positions with small capital outlay. This does, of course, also increase the size of potential losses. A breakdown of margin requirements can be be found on the Axes website.
Users can trade on the MT5 mobile app, meaning that trades can be executed on the go. The convenient app provides many of the same features as the desktop platform, including real-time quotes, comprehensive technical analysis, and financial news. Traders also benefit from easy-access mobile features including push notifications and live chat support.
The mobile app is compatible with iOS and Android smart devices and can be downloaded from the Apple App Store or Google Play Store.
Axes offers several fast deposits options, all of which are free to use:
- Credit/debit card – Within 10 minutes
- Bank transfer – Processing times vary
- UnionPay – Within 10 minutes
- Neteller – Within 10 minutes
- PayPal – Within 10 minutes
- Skrill – Within 10 minutes
Traders should check with their payment provider or bank for any intermediary fees. The minimum deposit with Axes is $100. Head to the client area to finance your account.
Traders can withdraw funds using the same fee-free methods listed above. Bear in mind that some banks or payment processors may charge their own fees. Axes aims to process all withdrawals in one working day.
Axes offers a demo account, where you can practice trading strategies in a zero-risk environment. You can register for a practice account from the broker’s homepage. If you’re undecided about Axes, a simulator account is an excellent way to try before you buy.
Deals & Promotions
At the time of writing, Axes does not offer any welcome deposit bonuses or promotions. With that said, this may change so check the broker’s website and social media pages in case of new offers.
Axes holds a license with the Financial Services Authority (FSA) in Saint Vincent and the Grenadines. The broker is also regulated by the International Financial Market Relations Regulation Centre (IFMRRC). However, traders should be aware that neither of these regulatory bodies are held in particularly high esteem. As such, we’d recommend caution before opening an account. Disgruntled clients won’t have the same regulatory support that’s provided with FCA or CySEC regulated brokers.
Axes provides a useful economic calendar and an all-in-one FX calculator. There is also an education centre with free video courses, although the links appear to be broken. Those relatively new to trading may wish to look elsewhere for a more comprehensive selection of resources.
There are three accounts to choose from: Live, Professional, and VIP. Benefits, as you move up the account tiers, include up to 30% off spreads with the VIP account, unlimited VPS use, and dedicated account managers. The standard Live account will suit most retail traders while experienced, high volume traders may prefer the VIP option.
Benefits of trading with Axes include:
- Multiple payment options & free deposits
- MT5 for desktop, web, & mobile
- Clients from the USA accepted
- Tight spreads & low fees
- 250+ CFD assets
Disadvantages of trading with Axes include:
- Limited educational resources
- Weak regulatory status
- Poor customer service
Axes follows standard market operating hours. See the broker’s website for a detailed breakdown of the opening hours of the market you are interested in.
Axes claims to offer support in multiple languages and from various locations. However, upon testing, we were disappointed. The live chat feature doesn’t work and the FAQ portal contains broken or outdated links.
If you do need to contact the support team, we’d recommend:
- Email – firstname.lastname@example.org
- Telephone – +44 (0) 20 8016 2377 (UK) or +1 415 212 7833 (Saint Vincent)
The broker’s head office address is 34 New House, City of London, EC1N 8JY, United Kingdom.
The MetaTrader 5 platform follows industry-standard security measures, with Secure Sockets Layer (SSL) encryption to protect data exchange between servers. There is also the option of Two-Factor Authentication (2FA) upon login.
Axes offers a decent range of CFD assets on the desktop, web and mobile MT5 platforms. Spreads are competitive and fast payment options are also available. But unfortunately, customer support and educational resources are seriously lacking, which makes us wary to recommend the broker to readers. Also, the broker isn’t regulated by a reputable onshore agency, which raises concerns about how safe and trustworthy Axes is.
Axes accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Is Axes a scam?
Axes is regulated by the FSA in St Vincent and the Grenadines. This offshore regulator is not particularly reputable which does raise concerns about the safety of the broker. We’d recommend caution before opening an account.
Does Axes offer bonds trading?
Axes does not offer trading on bonds. Instead, clients can trade CFDs, stocks, indices, forex, commodities, and futures.
How much capital do I need to trade with Axes?
The minimum accepted deposit is $100, however, the broker recommends funding your account with at least $500.
Where is Axes based?
Axes is headquartered in London but is registered with the FSA in Saint Vincent and the Grenadines.
What leverage is offered at Axes?
The maximum leverage offered at Axes is 1:500, although this varies depending on the market.
|Axes offers multi-asset trading through the MT5 platform and mobile app.|