Axi provides access to many markets, featuring over 50 financial instruments to trade as CFDs. 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.
- You should read and understand these documents before applying for any AxiTrader products or services and obtain independent professional advice as necessary.
- Founded in 2013, Trading Pedia aims at providing its readers accurate and actual financial news coverage.
- For this purpose, they must set up a profile within the app that is separate from their main account with the brokerage.
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). AxiTrader was originally an Australian trading company, set up in 2007. axi forex broker 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. Trade CFDs with dynamic leverage on a multitude of markets, including forex, shares, indices and commodities.
Is Axi a legit broker?
Axi offers a great selection of 70+ major, minor and exotic currency pairs. There are no restrictions on trading strategies and the broker boasts impressive spreads by connecting to 20 liquidity sources. Axi hosts weekly free webinars on a variety of topics, including market analysis, trade management, trading psychology, and much more.
According to the official website, Axi is regulated in Tier-2 jurisdiction. According to the official Axi official website, Axi is regulated in Tier-1 jurisdiction. Traders also have the option to install the MetaTrader 4 NexGen as an extra add-on. This comes with a great number of additional features, giving you instant access to various advanced management tools. You are not required to purchase a specific physical quantity of the precious metal you are interested in trading.
- The Forex Video Tutorials sections of Axi’s education contain step-by-step instructional videos on how forex traders can start using the MetaTrader 4 trading platform.
- The platform enables you to keep your costs on the low thanks to its competitive spreads, some of which are as low as 0.0 pips.
- Based on our thorough, data-driven testing of each broker’s commissions and fees, we found that XTB offers better pricing overall for traders.
- Axi hosts weekly free webinars on a variety of topics, including market analysis, trade management, trading psychology, and much more.
CFD trading with indices is another interesting investment opportunity for clients of AxiTrader. This involves a higher degree of uncertainty but if you know what you are doing, you can generate high profits with a relatively small investment. However, you should also be aware this is a volatile investment path where the losses you incur can sometimes exceed the balance of your account.
Axi runs a very successful referral program that gives you the opportunity to make money by referring clients to the Forex retail broker Axi. Forex Trading Platform and Financial Asset Management Institution Axi has 4 different account types that are offered. According to a Forex Suggest review, where security, trading speed, and cryptocurrencies is concerned, Axi is a good broker but not where online support is concerned. If you already are an MT4 user, they will ask you to type in the number of your MT4 account. Then you must choose the subject of your inquiry, i.e. whether it concerns withdrawals, deposits, trading, updating your account, and so on.
Today the Australian forex and contract for differences (CFD) broker services over 60,000 clients in 100 countries across the globe. Also, UK-based retail clients’ funds are insured via the Financial Services Compensation Scheme in the event of broker insolvency, as we discussed earlier in the review. For international bank wire transfers, your bank may charge you a receiving fee. This non-transactional fee is your responsibility; please check with your bank if you are unsure. Also, the broker will require Proof of Identity and Proof of Source of Funds before processing withdrawals through international transfers.
Trade with Axi funds up to $1 million USD
No, Axi does not offer a forex traders dashboard on the official website. Forex traders must make use of MetaTrader 4 to gain access to such tools after signing up for a trading account. Seasoned traders who are already well-versed in working with the MT4 software can set up a live account for free.
It can help traders improve their performance, which I find an excellent tool. Axi also uses the PsyQuation score for its AxiSelect program, which funds talented traders with capital, a rare and unique feature. To open a forex trading account with XTB, you’ll need to make an initial minimum deposit of $0.
All the deposits are processed instantly while the withdrawals can take up to 5 days to settle. This helps them open larger positions despite their initial deposit, maximizing their potential profits. However, leverage also increases the risks that forex traders are exposed to when it is misused or used incorrectly.
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With this account, trades in all available instruments will not incur nor be paid any swap or interest, in accordance with Sharia law. 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. 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.
The social trading platform is available to all live account holders. Axi advertises a minimum mark-up of 0.4 pips in its commission-free trading account. During the London-New York overlap session, I received a 1.1 pip spread for the EUR/USD or $11 per 1.0 standard lot. It is an above-average trading cost, and I recommend traders avoid it.
Being a cryptocurrency, Bitcoin is decentralized meaning that it is not controlled by a specific banking institution or interbank dealers. Axi is a member of the Financial Commission, which is an independent entity that deals with external dispute resolution. Part of its job is to guarantee the quick, effective, and impartial resolution of trader-broker disputes. However, this entity is not registered or regulated under the laws of a specific jurisdiction.
Axi provides you with powerful platforms where you are at the controls. The time it takes to fund your account depends on the method you utilize. If you are looking for time efficiency, we suggest you implement a card or one of the supported e-wallets.
Deposits conducted with UnionPay take between 1 and 3 business days. The margins for precious metal CFDs are as low as 1% at AxiTrader, so your exposure to risk remains minimal. You can further exercise control over your risk with the help of the flexible leverages the platform offers. The company also has a branch in Dubai where it is regulated by the Dubai Financial Services Authority (DFSA). The platform is open to traders from New Zealand under a license granted by the local Financial Markets Authority (FMA). Neither have Int’l Stock Trading (Non CFD) and Cryptocurrency (Physical).