Axi Review 2022
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Axi offers forex and CFD trading to retail and professional investors. Catering to traders from the EU to Australia, Singapore and Indonesia, the client portal opens up 130+ products, copy trading functionality, plus multiple account options.
Our review of Axi covers everything you need to know about opening a live account, from minimum deposits, withdrawal details and MetaTrader 4 integration, to spreads, leverage and demo account info. Find out what our experts made of Axi.
AxiTrader was originally an Australian trading company, set up in 2007. Over the years it has expanded, opening a London branch in 2012 and commencing operations in China in 2015. Over 60,000 clients have opened accounts in more than 100 countries.
Predominantly a MetaTrader broker, and rebranding from ‘AxiTrader’ – Axi now specializes in trading forex, cryptocurrencies, indices, metals and commodities. The brand has a mixed client base, with opportunities for less experienced investors, as well as institutional traders.
The company is regulated by the Australian Securities & Investments Commission (ASIC) and the UK Financial Conduct Authority (FCA).
MetaTrader 4 (MT4) is the primary platform provided. Versions are available which are suitable for Android APK and Apple devices, as well as Mac computers and those with a Windows set-up.
The platform is easy to navigate; trades can be completed quickly and effortlessly. Comprehensive education material also ensures that newbies have everything they need to get started.
150+ assets are available, along with live pricing and real-time charting. Clients can also keep abreast of the latest trends using the automated news feature. In addition, custom indicators can be added and the MQL4 programming language ensures that traders can develop and test automated investing strategies. The Myfxbook third-party application also integrates with MT4 to offer clients automated trading capabilities.
Axi also provides users with MT4 NextGen. This terminal complements MT4 while providing additional functionality, such as enhanced order functionality and sentiment trading. In addition, Axi provides trading signals, a VPS, and MAM (multi-account manager) modules.
The MT4 download link for Mac and Windows is available on the official website.
Note, the broker does not offer the MetaTrader 5 (MT5) platform.
Axi Copy Trading
An app for copy trading is also available. Here, users can copy other successful investors. This is available as an iPhone app and an Android APK in the respective app stores. The interface is simple and clean, allowing for investments to be easily made on the go.
With zero commission fees at the deposit and withdrawal stage, plus access to over 30 trading products, it is an excellent tool, especially for beginners. Clients can browse by leading traders and can filter risk parameters to find an approach that suits their needs. The social trading platform is available to all live account holders.
When comparing AxiTrader vs Pepperstone, this app stands out as the rival company does not have separate functionality for copy trading. Instead, Pepperstone utilizes MT4 integration.
Assets & Markets
Axi traders can speculate on:
- Shares – 50 companies like Facebook and Microsoft
- Forex trading – 70+ major, minor and exotic currency pairs
- Cryptocurrencies – including Bitcoin, Litecoin, Ethereum and others
- Indices – 30+ global indices, including US, UK, Europe, Asia and Australia
- CFDs – a wide range of assets including commodities, shares, and indices
- Commodities – oil trading, natural gas, bullion metals like gold and silver
Spreads & Commission
Generally, the spreads offered by Axi are in line with other sites. For example, the average spread for EUR/USD with a standard account is 1.3 (0.2 with a pro account). The average spread for GBP/USD is 1.5 (0.6 with a pro account) and for AUD/USD, it is 1.4 (0.5 with a pro account).
If you open a standard account with Axi, there is no commission. That said, spreads available for standard account holders only start at 0.4 pips. In comparison, the pro account charges a $7 USD round trip commission but spreads start from 0.0 pips.
The most cost-effective option for a customer is usually determined by trading volume and the list of assets they wish to speculate on. Overall though, fees are competitive.
When we used Axi, we found leverage up to 1:400 was available. This is relatively high, although there are a number of platforms that also offer 1:400, with some that offer up to 1:500. European traders may see leverage restricted to 1:30 (1:2 on crypto) in line with ESMA’s regulations.
Leverage levels can also be set according to individual preferences.
Axi offers an MT4 mobile app for both Apple and Android devices. The application can be downloaded from the official website or app store and enables traders to operate in the same manner as they would on desktop devices.
Traders can move between devices without “losing their place”. The app is fully functional, easy to navigate and provides all the advantages of using the site on a laptop or desktop.
As outlined above, a copy trading app is also available for investors who wish to copy the positions of other traders.
Deposits to Axi can be made using several options:
- Bank wire
- Credit/debit card (Visa, Maestro and Mastercard)
Deposits are free and can be made in the following currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD. There is no minimum deposit on bank wires, but on e-wallets, it starts at 10 USD or EUR depending on your region.
Deposits are instant through e-wallets, and withdrawals are normally completed within 1-3 days. International withdrawals take between 2-5 days.
Axi operates in line with anti-money laundering guidelines. This means that proof of identity may be required before withdrawals can be approved.
Axi offers a demo account that allows up to thirty days of dummy trading. Each account comes with a virtual balance of $50,000. Customers can choose whether to open a practice standard or practice pro account.
Set up a demo account here.
Deals & Promotions
The firm offers a $1000 welcome bonus for new investors who deposit a minimum of $2000 (terms and conditions can be found on the broker’s website), however, this is not available to clients in the EU.
For EU traders, Axi has a comprehensive selection of educational tools, including webinars, video tutorials, online education and e-books.
There is also a wide range of resources to assist active traders, such as an FX economic calendar, notice of market holidays, future CFD rollover dates, and a dividend forecast schedule.
Regulation & Licensing
The UK Axi operation is regulated by the FCA, with clients protected by the Financial Services Compensation Scheme up to £85,000. The Australian operation is regulated by ASIC. Both the FCA and ASIC are highly regarded financial regulators, which means that traders can trust the integrity of the AxiTrader group.
Dubai operations are regulated by DFSA, whilst Axi users in New Zealand benefit from regulation under FMA (NZ).
Axi has a regularly updated blog, which details industry announcements and views as well as insights into economic news across the globe. There is also the opportunity to receive market and technical analysis from experts. In addition, guides and infographics provide added data for traders.
The Autochartist feature offers automation and trading signals on forex pairs. The tool essentially collates financial data from a multitude of sources and overlays technical analysis to help users identify trading opportunities. Trade suggestions are delivered via MT4 integration.
Axi offers three different accounts: Standard, Pro and Elite. The main difference between the live accounts relates to the fee structure. As indicated earlier, the spreads with a Standard account start at 0.4 pips, but no commission is charged. In comparison, Pro account spreads start at 0.0 pips, but $7 USD is charged on each trade. Professional clients, with Elite accounts, benefit from both low spreads starting at 0.0 pips and commissions of $3.5 USD round trip.
There is no minimum deposit requirement with the Standard or Pro accounts, but clients need a $25,000 deposit to get started with the Elite solution. Elite accounts can also only be opened in EUR, USD, GBP and AUD.
Our experts found that the key advantages of trading with Axi include:
- Highly regulated – traders can be assured the broker is not operating scams
- Stock CFDs in US, UK and European markets
- $0 minimum deposit
- MT4 NexGen software
- 1:200 crypto leverage
While using Axi, we also found several drawbacks:
- Crypto CFDs are only available to professional clients
- Limited choice of trading platforms
- Leveraged trading can be risky
The site is open 365 days a year. Most assets are open for trading 24/7. Axi also has a full list of asset opening hours here.
Customers can start a live chat via the WhatsApp logo located at the bottom of the official page. They can also reach out about any issues they might have such as when MetaTrader has no connection and account funding or withdrawal problems by using the email address: firstname.lastname@example.org.
An Australian Axi free phone number is provided: 1300 888 936, and an international contact number: +61 2 9965 5830, in addition to many others:
- Spain – 80 060 01 30
- China – 400 8907839
- Malaysia – 1800 81 6529
- Australia – 1300 888 936
- Germany – 0800 7244085
- Hong Kong – 800 903 578
- Singapore – 800 120 6765
- Indonesia – 0018030164060
- New Zealand – 0800 480 404
- Thailand – 001800120664622
- United Kingdom – 0800 018 3306
Safety & Security
The broker uses industry-standard security measures to ensure that client data is kept safe. As such, all data is encrypted during transmission and the company uses cutting-edge software to protect traders.
This is a legitimate company, not a scam, and is regulated by many international bodies. It also offers negative balance protection.
Axi (formerly AxiTrader) is a trustworthy, established broker with competitive trading conditions. A relatively high level of leverage, alongside competitive commission, ensures Axi is a good value site to trade with. Axi has also been around for more than a decade, so enjoys a good reputation within the industry.
Axi accepts traders from Australia, Thailand, Canada, 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.
Traders can not use Axi from United States, Colombia, Iraq, Iran.
Alternatives to Axi
If you are looking for alternatives to Axi we have compiled a list of the top 5 brokers that are similar to Axi below. This list of brokers like Axi is in order of similarity and only includes companies that accept traders from your location.
- IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
- EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
Is Axi Available In The Philippines?
Yes, the broker supports traders in many countries, including the Philippines, Canada, New Zealand, UK. It can also be contacted through its Singapore office (virtual) for any customer service issues.
How Do You Fund An Axi Account?
There are several methods you can utilize to add funds to your live account. This includes credit cards, debit cards, wire transfers, Skrill, Neteller, and many others. The detailed list can be found on the official website or in our review.
How Many Accounts Dose Axi Have?
The broker provides three options: Standard and Pro for retail traders and Elite for professionals. Retail accounts have no minimum deposit, while the Elite version offers the best trading environment in return for a $25,000 minimum deposit. Spreads start at 0.0 pips with the Pro and Elite options alongside a $7 and $3.50 round turn commission, respectively.
What Account Currencies Does Axi Offer?
Axi offers trading accounts in several base currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.
|Axi is a global online FX and CFD trading company, trusted by investors around the world. Highly leveraged trading opportunities plus a $0 minimum deposit make it popular with beginners and seasoned traders.
81.6% of retail investor accounts lose money when trading CFDs with this provider
Axi vs Other Brokers
Compare Axi with any other broker by selecting the other broker below.