AxiTrader Review

Review

 

Axi presents traders with raw spreads from 0.0 pips from the MT4 trading platform, upgraded via the Autochartist plugin. API trading is also available, and there is no minimum deposit at Axi, while most traders get maximum leverage of 1:500. I reviewed Axi to determine if the trading environment delivers the edge Axi claims. Should you manage one portfolio at this Australian broker with international reach?

Summary

Axi Overview - A competitive trading environment for algorithmic trading and scalpers

Headquarters

Australia

Regulation

ASIC, FCA, DFIC

Established

2007

Execution Type

Market Maker/ECN

Minimum Deposit

$0

Maximum Retail Leverage

1:500

Trading Platform(s)

MT4

Besides competitive trading costs, Axi offers traders the third-party trading analysis platform PsyQuation. 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.

Axi Main Features

Retail Loss Rate

75.90%

Regulation

Yes

Minimum Raw Spreads

0.0 pips

Minimum Standard Spreads

0.4 pips

Minimum Commission for Forex

$7.00 per round lot

Commission for CFDs/DMA

Commission-free

Commission Rebates

No

Minimum Deposit

$0

Demo Account

Yes

Managed Account

Yes

Islamic Account

Yes

Inactivity Fee

No

Deposit Fee

No

Withdrawal Fee

Third-party

Funding Methods

29

Back to Top

Regulation and Security

Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. Axi presents clients with one well-regulated entity.

Country of the Regulator

Name of the Regulator

Regulatory License Number

Australia

Australian Securities & Investments Commission

AFSL Number 318232

UK

 

Financial Conduct Authority

FCA Reference Number 509746

Dubai

 

Dubai Financial Services Authority

DFSA Reference Number F003742

While Axi has three well-regulated subsidiaries, most international traders will deal with the unregulated unit operating from St. Vincent and the Grenadines. Since Axi has an exceptional reputation, I do not view this as an issue. Axi is a member of the Hong Kong-based Financial Commission, featuring a €20,000 compensation fund. A $1,000,000 client money insurance policy is also in place, making the unregulated St. Vincent and the Grenadines unit the best-protected one with the best trading conditions.

All Axi subsidiaries offer negative balance protection and segregate client deposits from corporate funds. From a regulatory perspective, Axi ticks all boxes. I can highly recommend Axi, particularly the unit operating out of St. Vincent and the Grenadines, due to it.

Axi Client Protection

Axi Insurance Policy

 

Back to Top

Fees

Minimum Spread

Commission per Round Lot

Cost per 1.0 Standard Lot

0.0 pips

$7.00

$7.00

0.4 pips

$0.00

$4.00

Here is a screenshot of the Axi MT4 Pro trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads.

Axi MT4 Trading Platform

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. The commission-based Axi account delivers as advertised, with raw spreads of 0.0 pips for a commission of $7.00 per round lot, which resembles a competitive pricing environment.

One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. Axi offers a positive swap on EUR/USD short positions, meaning traders get paid money.

MT4 traders can easily access swap rates from their platform by following these steps:

1. Right-click on the desired symbol in the Market Watch window and select Specification.

2. Scroll down until you see Swap Long and Swap Short.

Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-based Axi Pro account.

Taking a 1.0 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for one night will cost the following:

Minimum Spread

Commission per Round Lot

Swap Long

Swap Short

Total Trading

Costs

0.0 pips

 

$7.00

-$3.57

X

$10.57

0.0 pips

 

$7.00

X

$0.94

$6.06

 

Taking a 1.0 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for seven nights will cost the following:

Minimum Spread

Commission per Round Lot

Swap Long

Swap Short

Total Trading

Costs

0.0 pips

 

$7.00

-$24.99

X

$31.99

0.0 pips

 

$7.00

X

$6.58

$0.42

Axi offers some of the best swap rates industry-wide, something I urge traders to consider who keep positions open overnight, as it makes a notable difference. Axi does charge an inactivity fee, which adds to the excellent cost structure.

Back to Top

What Can I Trade

Axi provides traders with 50 currency pairs, six cryptocurrency pairs, 20 commodities, and 31 index CFDs. Equity CFDs are notably missing, which is a negative in my book as I trade them, but Forex traders have a good selection.

Asset List and Leverage Overview

Currency Pairs

75

Cryptocurrency Pairs

6

Commodities and Metals

20

Index CFDs

31

Equity CFDs

0

Bonds

0

ETFs

0

Options, Futures, and Synthetics

0

Maximum Retail Leverage

1:500

Maximum Pro Leverage

1:500

Axi Leverage

Most international traders have access to maximum leverage of 1:500. The UK and Australian regulators limit it to 1:30, which I find uncompetitive for active traders, as it limits flexibility and cuts into profitability.

Axi Trading Hours

Asset Class

From

To

Cryptocurrencies

Monday 00:01

Friday 23:58

Forex

Monday 00:01

Thursday 23:59

Forex

Friday 00:01

Friday 23:58

Commodities

Monday 01:00

Friday 23:59

European Index CFDs

Monday 09:00

Friday 22:59

US Index CFDs

Monday 01:00

Friday 23:15

I recommend the following step for MT4 traders to access trading hours:

1. Right-click on the desired symbol in the Market Watch window and select Specification.

2. Scroll down until you see Sessions.

Back to Top

Account Types

Traders have access to two account types, the commission-free Standard and the commission-based Pro. I advise against the former, which despite the advertised minimum spread of 0.4 pips, carries costs roughly three times above that and beyond. It is an expensive account, and I recommend traders opt for the Pro alternative. The commission of $7.00 per round lot remains competitive, and spreads start as low as 0.0 pips, an ideal combination for algorithmic traders and scalpers.

Axi MT4 Trading Platform

Axi Demo Account

While Axi offers a demo account with flexible options concerning the account balance, base currency, and leverage, it is limited to 30 days. Therefore, I consider it pointless, as traders use demo accounts to test applications and trading strategies, which requires significantly more than 30 days.

Back to Top

Trading Platforms

Axi provides traders with the out-of-the-box MT4 trading platform and upgrades it free of charge with the Autochartist plugin. I like that Axi adds Autochartist, which can assist beginner traders. MT4 is the market leader in algorithmic trading and remains the most versatile trading platform. It is available as a desktop client, where traders get the full functionality of MT4, a light web-based platform, and a mobile app. Axi also provided the MT4 MAM module for account management.

Overview of Trading Platforms

MT4

Yes

MT5

No

cTrader

No

Proprietary Platform

No

Automated Trading

Yes

Social Trading / Copy Trading

Yes

MT4/MT5 Add-Ons

Yes

Guaranteed Stop Loss

No

Negative Balance Protection

Yes

Unique Feature One

PsyQuation

Unique Feature Two

Autochartist

Back to Top

Unique Features

Besides Autochartist, Axi features the third-party trading analytics platform PsyQuation. It can help traders minimize mistakes and assist them in becoming better traders. I like that Axi invests in making its traders more successful. As an algorithmic trader, I appreciate API trading at Axi, as it allows me to connect advanced trading solutions to the Axi trading environment, and VPS hosting is also available.

Social traders may either rely on the MT4 built-in copy trading platform or use Myfxbook Autotrade. Another unique feature I want to point out is AxiSelect, a program that funds talented traders with up to $350,000. The Axi Community completed an excellent set of value-added services at Axi, all intended to promote better traders.

Back to Top

Research and Education

Autochartist provides the bulk of research content at Axi, but the Axi blog also features a  weekly market review. It is well written and features charts with easy-to-understand trading ideas.

The Axi blog also features high-quality educational articles, and I can only recommend that traders of all levels take a look, as there is plenty of thought-provoking content. Five eBooks are also available free of charge, but Axi asks for a name, country, phone number, and e-mail address. They are required for opening an account, and therefore not an obstacle to new clients. The video library consists of eleven courses, consisting of numerous lessons. While the videos in each are short, they introduce each topic to new traders. I think beginner traders can start there and then research more online. Overall, I find the educational section at Axi comprehensive and of good quality.

Back to Top

Customer Support

Axi offers 24/7 customer support via e-mail, live chat, or eleven toll-free numbers, but I did not find an FAQ section. Axi explains its products and services well, and I believe most traders will not require assistance. In case of emergencies, Axi customer support is easily accessible.

Axi Customer Support

 

Back to Top

Bonuses and Promotions

While Axi does not offer deposit bonuses, it presently maintains two promotions for affiliates. Both are well-structured, and Axi focuses on growing its trader-base with long-term clients, a move I find business-savvy. I also believe that the trading conditions at Axi are better than any deposit bonus and the absence of it non-essential.

Axi Affiliates Competition

Axi Partner Loyalty Program

Back to Top

Opening an Account

Opening an account at Axi is as simple as it gets. The only requirements are name, country, e-mail, phone number, and application type, which took me less than 30 seconds to complete. New accounts require verification, following well-established industry practices. A copy of the ID and one proof of residency documents generally satisfies this step and completes KYC/AML stipulations.

Axi Account Opening

Minimum Deposit

There is no minimum deposit at Axi, which I appreciate, as it gives traders complete control over their deposits and portfolio-building strategies. The only minimum depends on the payment desired payment processors.

Payment Methods

Axi offers bank wires, credit/debit cards, POLi, FasaPay, Sofort, GiroPay, iDEAL, Neteller, Bitcoin, Skrill, Boleto, Global Collect, and 17 regional online banking solutions.

Accepted Countries

Axi accepts traders from the UK and South Africa and has an office in each. Traders from Malaysia, Singapore, and Canada may also open accounts at Axi, but US traders cannot trade at Axi.

Back to Top

Deposits and Withdrawals

Axi processes withdrawal requests within one to two hours, ensuring traders get swift access to their capital without complications. There are no internal fees, but third-party processor costs apply. I recommend traders check with their preferred one to ensure the most cost-efficient method. Traders must request withdrawals from the secure client portal, and the name of the Axi account must match the one on the payment processor or bank account. I like the hassle-free withdrawal approach at Axi, as it adds to peace of mind when trading.

Axi Withdrawals

Axi Withdrawals

 

Back to Top

General Information

Company Information

  • Broker's Name : AxiTrader
  • Headquarters : Australia
  • Regulation :

Account Information

  • Type of Broker : 35,38
  • U.S. Clients Allowed :
  • Minimum Deposit : 0$
  • Maximum Leverage : 1:500
  • Commissions / Spreads : Both
  • Account 1 : Standard
  • Account 2 : Pro
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4, Web-based, Other
    • Platform Languages :
      • English
    • OS Compatibility :
      • Mac
      • Windows
      • Linux
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
      • Spanish
      • Arabic
      • Japanese
      • Chinese
      • Russian
      • Thai
      • Bahasa
      • Other
  • Support Hours : 24/5
  • E-mail Support :
  • SMS Support :
  • Chat :

Pros and Cons

Advantages

  • No minimum deposit and high leverage for most international traders

  • Autochartist plugin for MT4 and API trading for algorithmic traders

  • AI-powered third-party trading analytics platform PsyQuation

  • Excellent trading costs and social trading plus educational resources in 24 languages

Disadvantages

  • Limited asset selection

Back to Top

Axitrader vs Comparisons

Broker Alternatives

We have gathered a list of the top broker alternatives to Axitrader, and conducted an in-depth broker comparison to assist you in choosing the right broker for your trading needs.

Pepperstone vs. AxiTrader

Axi vs IC Markets

BlackBull Markets vs Axi

Back to Top

The Bottom Line

I like the trading experience at Axi as the Pro account offers raw spreads from 0.0 pips for a commission of $7.00 per round lot. I also appreciate the swap rates, which accurately reflect the global interest rate environment, free of excessive broker mark-ups, as evident at many brokers. While the asset selection is limited, I think Axi is an excellent choice for pure Forex traders with 75 currency pairs.

Beginner traders have access to a well-presented educational portal, and I think the PsyQuation trading analytics platform represents the best tool for traders at Axi. I also like the hassle-free withdrawal process at Axi, while Autochartist offers a much-needed plug-in for the MT4 trading platform. Overall, I can confidently rank Axi as one of the best Forex brokers operational today.

Back to Top

FAQs

Is Axi a good broker?

Axi offers Forex traders a well-regulated, trustworthy, and competitive trading environment. Some industry publications place it among the Top 10 Forex brokers by trading volume.

Is Axi regulated?

Axi has licenses from the Australian ASIC, the UK FCA, and the Dubai DFIC. Most international traders will deal with the unregulated subsidiary located in St. Vincent and the Grenadines.

Is Axi good for beginners?

Axi offers a well-rounded educational program, making it a good choice for beginner traders. The third-party PsyQuation trading analytics platform also provides an excellent tool to make traders better.

What is the Axi minimum deposit?

There is no minimum deposit at Axi, resulting in applicable requirements based on payment processors.

Back to Top

User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



0 User Reviews
Comments
Add Comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Back to Top