Once open a live account, further Axi account types are categorized. Axi offers low trading fees, which vary on the account types and the cost structure. To understand the fee structure, we have tested the pro account for this Axi review, and the finding is they have a low commission with low spreads. Before getting into the Axi review, let’s get to know about the company. It is an Australian based forex broker that allows trading forex, CFDs, and indices. CFDs and trading in forex on margin carries with it significantly high levels of risk and won’t be compatible for all the investors.
- Besides being able to easily understand the pattern of price movements through Autochartist, Axi also provides easy access to sophisticated trading tools under the name of MT4 NexGen.
- The broker also offers Autochartist to scan markets 24 hours a day without needing to stare at the screen all the time.
- This competition of interests is a natural aspect of the market, and there’s nothing inherently wrong with it.
- They include 54 currency pairs and 41 CFDs for goods, metal, indexes, and cryptocurrency.
I would much prefer to use my own strategies as I like to know when and why a position was taken. 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. With Axi’s MT4 video lessons for beginners, you can learn how to utilise the world’s most popular trading platform. Axi accepts traders from the UK and South Africa and has an office in each.
Step 2: Time to verify your account
Most of the research you would have to do is done by the Autochartist plugin and PsyQuation Premium tools. If you need more tools to do your research, you can look through the market analysis section of the Axi website. The tool shows you when you make mistakes and helps you improve your trades. Some of the tools found on Axi’s PsyQuation premium include the Order Flow Sentiment Indicator. That tool is not even comparable to the AI-guided analysis, which is the biggest reason why PsyQuation Premium works so well. The job it has is to offer you trading signals, in-depth forecasting, and quantitative analytics for better trading.
Traders are free to copy trading strategies from professional traders and apply them to their own trade. As a result, it has been seen that Muslims don’t want to invest in axi forex broker forex. To provide trading opportunities to Muslims, Axi has introduced an Islamic trading account, which is a swap-free account and doesn’t incur any interest in trading.
First off, the broker has a full-on SVGFSA license from St. Vincent and the Grenadines financial regulator. This license is one of the most popular and sturdiest legal pieces in the financial world right now. And even if it were alone on the platform, it would still ensure that there’s no Axi fraud going on. The foreign exchange market has evolved into a colossal segment within the trading industry, dwarfing all others in terms of sheer magnitude. With a staggering daily traction of nearly 6 trillion US dollars, it stands as a financial behemoth. Before choosing a broker, we recommend that you read the reviews of Axi, as well as see our rating of Forex brokers.
- Another VPS option is MetaTrader VPS, which is offered by MetaQuotes at $10.00 per month.
- The Copy Trading app is the only proprietary trading platform Axi offers.
- To access the live market, you have to open an account on Axi by following the steps we have outlined in the Desktop platform section.
- You can contact customer service at Axi by phone, email or live chat.
- Axi Withdrawal requests will be processed within 1-2 business days upon receipt.
Negative balance protection occurs during leveraged trading when a trader overuses or abuses leverage and loses more than their account balance. Some brokers, especially those who provide traders with direct market access, tend not to have negative balance protection as they are only middlemen and not market makers. But still, many brokers provide negative balance protection which is a very good protective tool for traders who are using leveraged trading. Axi offers negative balance protection for traders from the UK and Australia, but not for international traders who fall under St. Vincent and Grenadines’ jurisdiction. Traders have to exercise caution and make sure to check under which jurisdiction their account falls in order to be sure they are covered.
Deposit Methods
Customers can add Smart Trader Tools plugins as extra features to their MetaTrader accounts, though the platform doesn’t seem to have very many of them. The additional services the site offers to aid trading include, MT4 VPS Hosting and MyFxBook Autotrade. Additionally, the platform uses cutting-edge security protocols, such as two-step authentication and SSL online encryption, to shield its clients’ private information from unauthorized access.
Best Forex Brokers By Countries – 2023
The standard account has no commissions, but the spreads are from 0.4 points. A good broker constitutes a good service for traders in terms of many criteria including trading instruments,
deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily
mean the same thing to you.
Education and research tools
For traders with at least 25,000 USD, There is an Elite account that offers even lower commissions from 3.5 USD per lot round turn, but all other terms are the same as the other two accounts. As we have said earlier, Axi was created by the traders, so you will definitely get the best trading experience with them. Additionally, a variety of trading instruments, markets with the world’s best trading platforms may boost your margins too.
Non-Trading Fees
Axi supports more languages than the competitors, but the client support is better with TMGM and Pepperstone. Myfxbook Autotrade is a one-of-a-kind social and copy trading community programme that encourages collaboration and idea-sharing. It accomplishes this by linking forex traders to their forex trading accounts. Users may follow other traders or enable other traders to follow them by linking to Myfxbook.
Top tier regulatory authorities like ASIC, FCA, FSA and DFSA regulate Axi forex and CFD broker. However, the broker is not yet listed and traded on any stock exchange in the world and does not disclose its financial statements in public. Furthermore, the broker’s licence to provide its services in New Zealand was suspended in 2019.
Our most popular forex broker comparison tables are low fee, high leverage and bonus offers. All information comes from providers’ websites with each provider offering free demo accounts to trial their offering and trading currency. Axi, formerly known as AxiTrader, is a brokerage company owned and operated by AxiCorp Financial Services Pty Ltd. Axi was founded in 2007 in Australia and is licensed and regulated by several reputable regulators. The broker offers international traders the ability to access various financial markets including Forex and CFDs with average spreads and commissions. The broker offers demo and Islamic accounts free of charge and assists traders with numerous educational resources.