Axi Forex Broker Review

We verify some of our data for quality control but there are slight variations occasionally. We are not liable for losses that resulting from the information provided on our site. 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review.

However, wait times were average, which meant we were unable to access help instantly via this method of communication. Similarly, customer service responses via email were received at an average speed. When you sign up with Axi, you’ll be given lifetime access to PsyQuation Premium. You can also benefit from market analysis via Axi’s ‘Markets Blog’ and access an economic calendar with a range of filters, including ‘Event Category’ or Country’. For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography, and reputation. The very same standards apply in the case of this world markets broker review.

There is an FXI/API for professional Forex traders and a credit for a Forex VPS for over 20 lots of monthly volumes. There is also a MAM account and social-trading via the Myfxbook AutoTrade. 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.

69.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Do not consider this AxiTrader review as investment advice. For professional traders, the company offers to use the Next Generation of MT4 – MT4NexGen. This platform is available free of charge for clients who open a live account with a minimum deposit of 1,000$. Since there is a high risk of losing money when trading forex, it is important to decode the complicated trading process and implement some effective trading strategies.

Sly “inactivity fees” mean Axi took all my money without me knowing

The spread of the standard account type starts from 1.0 pips with no commission. This means it offers products from MetaQuotes Software Corporation, developers of the popular Meta Trader platforms. If you open an Axi trading account and make your first trade before Dec.31, 2022, you qualify to receive a 30% trading credit. You can contact customer service at Axi by phone, email or live chat. The live chat is responsive, with agents connecting quickly, and you can choose to communicate in a language of your choice. Email and phone support are available five days a week, though the service does run for 24 hours a day.

AxiTrader offers over 130 CFD instruments across Forex, Stocks, Indices, Commodities, Precious Metals, and Cryptocurrency categories. The short answer is yes; AxiTrader stands out as a safe and reliable broker. So you can open an account with it by going through our AxiTrader review content above, where all aspects of this platform are covered. AxiTrader’s regulated environment is monitored by various jurisdictions and maintains compliance with different trading conditions.

AXITrader Forex broker description

Fraudsters set up social media accounts and include false images of trading statements and cash balances to make claims that they are profitable traders. Users can compare their trading strategies with that of other traders to improve trading skill and strategies, and learn more trading ideas. Further, the account includes no commission fees, deposit fees, trading fees, which makes this account very lucrative for beginners. The application is extremely user-friendly, and numerous world-class trading tools and graphs are available, which makes it ideal for all forex and CFD traders. The client funds of the UK enjoy coverage from the Financial Services Compensation Scheme of over £50,000 in a highly unlikely case when AxiTrader becomes bankrupt.

MT4 is the primary trading platform provided by the site. Versions are available which are suitable for Android and Apple devices, as well as Mac computers and those with a Windows set-up. The company is regulated by ASIC in Australia and the FCA in the UK.

An Overview of AxiTrader

We’ll take this on board and get back to you as soon as possible. Even in the view of its minor discrepancies and some unanswered regulatory questions, AxiTrader represents genuineness in assisting the forex trading requirements of people. In 2021 and beyond, it is expected to sustain its attractiveness as a top-ranked broker with a surging market share. This makes AxiTrader a trading coach for every new user. Despite the MetaTrader 4 platform’s limitations, AxiTrader runs excellently for its traders by offering them the most cutting-edge trading tool – PsyQuation Premium.

• They are regulated by respected agencies like FCA, ASIC, and DFSA.
• We’re also licensed, regulated and have customers in 100+ countries.
• Although this is certainly a positive, the level of support and accuracy of the information provided was disappointing.
• Axi explains its products and services well, and I believe most traders will not require assistance.

If you choose to use copy trading, Axi provides a list of traders and their statistics. You also have the opportunity to set risk levels to suit your risk tolerance. The platform allows you to stop copy trading whenever you want. Learn new CFD trading strategies from the professionals by choosing to follow your favorite traders, trading along the same lines as they do.

The company is growing from strength to strength, catering actively to its diversified clientele and substantial trading volumes. The revenue collected by AxiTrader makes it one of the top 10 retail brokers in the global forex and CFD market. It is highly transparent with its operations, winning awards recurring for its services in the market. AxiTrader’s full registration and compliance stay in Australia, and its UK subsidiary gets authorization by the Financial Conduct Authority. Clients feel secure with the backing of the Financial Conduct Authority, which is why this broker does not pose any high risk of losing money when trading forex pairs.

Axi’s Customer Support

Many of the regulations imposed by the regulatory agencies overseeing AxiTrader, have everything to do with client protection, among other reasons. One of the new introductions in the rules involves restricting brokers from offering bonuses to clients. However, in general, the broker seems to have a great reputation.

To set alerts, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app’s settings), by going to the ‘Tools’ menu and then ‘Options’. Axi hasclear portfolio and fee reports.You can easily see your profit-loss balance and the commissions you paid. However, all your monthly financial statements are available to download at the Client Portal.

Assets / Markets

As you will see in our AxiTrader review, the broker mainly uses MetaTrader. It offers forex and CFD market investors access to all asset classes. They include 54 currency pairs and 41 CFDs for goods, metal, indexes, and cryptocurrency. Like any of the reputable and successful brokers, AxiTrader provides you with a demo account that will allow you to familiarize yourself with how it all works. When comparing the trading fees between brokers, we always have to consider the most important things.

We are one of the most prominent stock exchange-listed FX & CFD broker in the world, giving retail traders instant access hundreds of global markets. Our trading platform is constantly improved to ensure it remains the best. The world’s largest supervision authorities regulate us. As concerns their trading platforms, there is the classic MetaTrader-4 in several versions for desktop and mobile devices. Scalping, automated trading, and hedging are fully allowed.

Axi Product Offering

However, notice that UK residents can not trade cryptocurrencies since FCA banned Crypto trade in the UK. Opening an account with AxiTrader is quite easy, you just need to follow the steps of the account opening process, verify your details and select the account type of your preference. You can also choose whether you want to open Deo or Live account. AxiTrader is divided into 3 accounts – MT4 Standard Account,MT4 Pro Account, and Elite Account. Leverage is a quite known instrument, which obviously multiplies the initial capital you trading with and can be a very useful tool to magnify your potential gains, but in case you use it smartly. However, always note that high leverage can work in reverse too.

Currently, AxiTrader Broker ranks among the top Forex Brokers and financial brokerage firms not only in Australia but also in other markets. Further, the firm also launched its London branch in 2012, China branch in 2015. In China, AxiTrader entered into a partnership with China Union Pay to help its Chinese clients process payments easily and directly to AxiTrader. Later, when their trade volume surpassed the 100 Billion Dollar mark, AxiTrader stretched its corporate brand to Germany Latin America and also to the Middle East in 2016. Tight spreads and fast execution + Servers based in New York. In our experience, Axi’s Live Chat support is fast and responsive, with an agent connecting to our request almost instantly.

“But commissions are high for credit-card transactions,” you say. Maybe as most of the brokers take up to 3.2% in funding fees. With the FX market becoming more competitive https://broker-review.org/ by the day, spreads and execution across different brokers are getting more and more similar . The broker offering is good but quite narrow and limited to only FX and CFDs.