Meaning that their platform is provided by the company known as MetaQuotes Inc. We tested all our trades via the MetaTrader 4 mobile app on our iPhone. 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.
Additionally, the withdrawal process is swift and efficient, offering convenience to investors. With these factors, Axi is highly recommended for those seeking a trustworthy and secure forex etoro review broker for investing in the Forex market. One of the main benefits of trading with AxiTrader is its competitive pricing.
Customer Service
Overall, I can confidently rank Axi as one of the best Forex brokers operational today. 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.
Advantages and Disadvantages of AxiTrader Customer Support
Overall, we found that Axi Trade fees are relatively low or no fees at all. Overall, the broker covers the most demanding markets to trade, also UK residents can benefit from the Spread Bet option. In this case, the client’s funds are safely kept in segregated accounts with top-tier banks and secured by compensation schemes. As well as all online transactions, executions, or traders’ manipulations are fully encrypted and follow operational guidelines. Axi previously AxiTrader is licensed and regulated by the two main authorization institutions Financial Conduct Authority (UK) and by the Australian Securities & Investments Commission.
Some of the most popular traded commodities are gold, silver, oil and gas. The Autochartist pattern recognition software can save you time scanning the charts by conducting automated chart analysis for you. It will show you patterns found on an instrument of your choice with a pattern quality rating. You can set alerts for when patterns are found and it can also forecast possible stop loss or take profit levels.
Platforms
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. AxiTrader offers in-depth articles on many trading topics to help traders improve their trading results. The lack of a proprietary trading platform may dissuade traders who do not like the popular MT4 platform.
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. Our research found that Axi or AxiTrader offers a full suite of MetaTrader 4, presented in Web, Android, iPhone, and iPad versions. Good to note, that not all MT4 platforms are created equal, as the broker may invest in a co-located server and fiber optics, in order to process more accurate trading or not. With its development along years broker also add plus500 canada on its own Trading software Axi Trading Platform and AXi Copy Trading App, so we found a good diversification at the place.
This section is frequently updated and includes technical and fundamental chart analysis which can help inspire potential trade ideas. I had a browse and managed to find some helpful insights for managing my open positions. Whether you’re learning the fundamentals of Forex, discovering different strategies or looking for expert trading tips, the eBook series can help to improve your knowledge of the markets. The volatility analysis gives information related to the volatility of markets at any given time with an adjustable risk parameter to identify instruments that meet a certain volatility criteria. I personally love this tool and think it is one of the best you can find for conducting thorough market analysis. It basically gives you professional market research in an extremely user-friendly way.
A major pro was that Axi has low spreads across all the instruments we traded with Bitcoin spreads being very low. 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. Axi Select emerges as a true powerhouse in the realm of prop trading.
- Whether you prefer to trade on your desktop or whilst on the go, MT4 is compatible with the technology and operating systems you prefer to use.
- 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.
- The mentorship, resources, and networking opportunities were invaluable.
However, traders who prefer the MT4 platform will be right at home with AxiTrader. 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. 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.
The traders that follow Muslim Sharia rules are entitled to open AxiTrader Swap Free Account that is not subject to Swap Fees on FX Major, FX Minor, and Precious Metals Symbols. The parent company AxiCorp Financial Services Pty Ltd changed its brand name Axitrader to become Axi at the end of 2020. In the same process, they also changed their existing website from axitrader.com to axi.com to match its efforts to revamp the AxiCorp brand. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. Whether you are brand new to trading or an experienced pro, you’ll find a community of likeminded traders with valuable knowledge to share and help you trade your edge.
What is the Minimum Deposit at Axi?
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. 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. All Axi subsidiaries offer negative balance protection and segregate client deposits from corporate funds. I can highly recommend Axi, particularly the unit operating out of St. Vincent and the Grenadines, due to it. Axi Select provided the perfect environment for my startup to thrive during its seed stage.
The standard account requires no minimum deposit, has variable spreads starting from just 0.4 pips and charges no commission. This account does not have the lowest spreads but on the plus side, there is no commission fee. Overall, I found the cost to be the same whether you paid the commission separately or have it included within the spread.
However, AxiTrader does not provide its clients the possibility to trade ETFs, Stocks and Options. Overall, AxiTrader offers competitive spreads and low commissions for traders, while the overnight financing fees are standard for the industry. Clients should be aware of the fees charged by AxiTrader and should factor them into their trading strategy. AxiTrader also provides a range of educational resources, including webinars, articles, and trading guides, to help traders improve their skills and knowledge.