Axi vs ForexChief

Axi vs ForexChief Comparison Table 2024
Axi ForexChief
3.7
3.3

Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.

ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.

81.6% of retail investor accounts lose money when trading CFDs with this provider
Customer Reviews
4.5
Bonus Offer
$100 No Deposit Bonus
Comment by Reviewer
"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks." "ForexChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."
Pros
  • A strong range of advanced tools are available for experienced day traders, including the Autochartist market scanner, VPS solutions and exclusive MT4 NexGen features
  • The broker's inactivity fee terms are fairly generous, only charging a $10 fee after a long inactivity period of 12 months - some brokers charge after only 3 months
  • The broker’s free trading resources are geared towards short-term traders, including various market calendars and dividend forecast schedules
  • Experienced traders can benefit from the Axi Select funded trader programme, offering funding up to $1 million and up to 90% profit share
  • The $0 minimum deposit, zero-commission pricing structure, and user-friendly copy trading service will appeal to beginners
  • Traders can choose between 10 base account currencies plus a wide range of free deposit methods, including cryptos
  • Among other educational resources, there’s an excellent selection of free eBooks for newly registered beginners
  • Axi is a well-regulated and established broker, with a strong track record since 2007
  • The broker offers several account types to suit different traders, including a Cent account for beginners and pro-level hedging/netting accounts
  • The broker offers a turnover rebate scheme geared towards active investors, as well as trading credits and several other occasional bonuses
  • ForexChief delivers a high-quality day trading environment via the MT4 and MT5 platforms, with market-leading charts, indicators and tools
  • ForexChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side
  • The low minimum deposit of $10 will appeal to beginners, as well as the beginners’ guides in the Library
  • Traders can access a copy trading solution via the MetaQuotes Signals service
Cons
  • There's a limited choice of third-party charting platforms compared to other brands, with only MT4 available alongside the proprietary app
  • The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more
  • The tightest round-trip commission fees of $3.50 are only available to those who can deposit $25,000
  • The Axi Select program requires a $500 minimum deposit to enter the first Seed stage
  • The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively
  • ForexChief is an offshore broker with weak regulatory oversight from the VFSC, so traders will receive limited safeguards
  • Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers
  • The total range of 150+ assets is much lower than most competitors who typically offer hundreds
  • The broker trails competitors when it comes to research tools and educational resources
Awards
  • Best EMEA Region Broker - ADVFN International Financial Awards, 2020
  • Best Forex Broker Middle East - forex-awards.com, 2019
  • Best Forex Broker Europe - forex-awards.com, 2019
  • Best MT4 Forex Broker - atozmarkets.com, 2019
Instruments
Forex, CFDs, indices, shares, commodities, cryptocurrencies CFDs, Forex, Metals, Commodities, Stocks, Indices
Demo Account
Yes Yes
Minimum Deposit
$0 $10
Trading Platforms
  • MT4
  • AutoChartist
  • DupliTrade
  • MT4
  • MT5
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FCA, ASIC, DFSA, FMA VFSC
Margin Trading
Yes Yes
Margin Rate
0.1%
STP Account
No Yes
ECN Account
Yes No
DMA Account
No No
MAM Account
Yes No
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
iOS & Android iOS & Android
Android App Rating
3.4
iOS App Rating
2.5
Auto Trading
Myfxbook plus Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes Yes
Copy Trading Platform
After partnering with Pelican Trading, Axi remains a strong option for traders seeking a reputable copy trading service. The user-friendly app requires no minimum deposit and connects seamlessly to your MT4 trading account. Clients can follow copy trading signals on the MetaTrader platform. Alternatively, signal providers can generate extra income by selling their positions. You can start copy trading in a few easy steps.
Social Trading
Yes No
Trade Signals
Yes - on MT4 Yes
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
Yes No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • CHF
  • HKD
  • SGD
  • USD
  • EUR
  • GBP
  • JPY
  • CHF
Stock Exchanges
Commodities
CFD Trading
Axi offers 220+ products covering forex, shares, commodities, indices and cryptos. Spreads on EUR/USD come in at around 0.2 pips in the Pro account and 1.1 pips in the Standard account. These are competitive and aligned with equivalent accounts at leading low-cost brokers like Pepperstone. You can trade a competitive range of CFDs encompassing crypto, indices, energies and metals, with very high leverage up to 1:1000. ECN pricing is available, with spreads from 0.0 pips and low commissions from $2.50. A Cent account is also available for those on a smaller budget.
Leverage
1:400 1:1000
FTSE Spread
from 100 (floating) 70
GBPUSD Spread
from 0.6 pips (floating) 0.9
Oil Spread
from 0 pips (floating) 12
Stocks Spread
Variable 50
Forex Trading
Axi continues to offer a strong selection of 70+ currency pairs - more than many top brokers including award-winner AvaTrade, with only 50+. There are no restrictions on trading strategies including algo trading and scalping, which will serve both short-term and long-term traders. ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs. Trading takes place on the leading MT4 and MT5 platforms, which offer dozens of in-built technical tools for short-term forex strategies.
GBPUSD Spread
from 0.6 pips (floating) 0.9
EURUSD Spread
from 0.2 pips (floating) 0.4
EURGBP Spread
from 0.5 pips (floating) 0.9
Assets
70+ 40
Cryptocurrency
The broker offers a strong selection of 30 popular cryptos paired with fiat currencies, other tokens and metals. The high leverage up to 1:200 will serve experienced crypto traders, whilst the zero-commission pricing structure will appeal to beginners. ForexChief’s range of 5 cryptocurrencies paired with USD is smaller than most competitors. In addition, the average BTCUSD spread of 30 pips is not the cheapest. That said, the broker does offer some useful crypto trading guides for beginners.
Spread
Variable Variable
Coins
  • BCH
  • BNB
  • BTC
  • LTC
  • OMG
  • FTT
  • BTC
  • BCH
  • DOG
  • LTC
  • XLM
  • AAVE
  • COMP
  • LRC
  • MKR
  • SUSHI
  • UNI
  • BAT
  • CRV
  • ENJ
  • LNK
  • MANA
  • MATIC
  • SAND
  • XRP
  • LNK
  • XRP
  • KSM
  • AVAX
  • ETH
  • SOL
  • XTZ
  • ADA
  • DOT
  • EOS
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
81.6% of retail investor accounts lose money when trading CFDs with this provider
More Comparisons
Axi
vs
ForexChief
vs