Axi Review 2024: Fees, Platforms, Apps, Safety, Pros & Cons

Axi is a global and multi-regulated forex broker with Headquarters in Australia. In this review, we will discuss the company’s fees, investment safety measures, regulations, verification process, spreads, leverage, deposit & withdrawal options, and how to open an account with Axi.

Regulated By

Regulated By

ASIC, FCA, FSA & DFSA

Used By

Used By

60,000+ Customers

Established in

Established in

2007

AXI logo Visit Broker

74% of CFD accounts lose money.

Spreads From

EURUSD 0.4 pips

What Can You Trade on Axi

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Trading Platforms

DesktopMobileMT4Copy

Funding Methods

Wire TransferVisaMaster CardSkrillNetellerBitcoin

Axi Review 2024: Fees, Platforms, Apps, Safety, Pros & Cons

Axi is a global and multi-regulated forex broker with Headquarters in Australia. In this review, we will discuss the company’s fees, investment safety measures, regulations, verification process, spreads, leverage, deposit & withdrawal options, and how to open an account with Axi.

  • author Eric Gift
  • Last updated 12/12/2023

74% of CFD accounts lose money.

Regulated By

Regulated By

ASIC, FCA, FSA & DFSA

Used By

Used By

60,000+ Customers

Established in

Established in

2007

Spreads From

EURUSD 89 Points

Trading Platforms

DesktopMobileMT4Copy

What Can You Trade on Axi

  • Forex
  • Stocks
  • Indices
  • Commodities
  • ETFS
  • Cryptocurrencies

Funding Methods

Wire TransferVisaMaster CardSkrillNetellerBitcoin

Axi Overview

Axi Review

Founded in Sydney, Australia, by a team of experienced traders, Axi has been operating since its inception in 2007. The world-class forex and CFDs broker and ECN-exclusive forex platform aims to reach full global status, with active regional offices in 8 locations, including Dubai, the Philippines, Singapore, and the UK. And in most of its operational jurisdictions, the company is well-regulated by top regulatory agencies. It’s one of the FCA-regulated brokers. The broker is also regulated by ASIC and DFSA.

Axi Main Features

Minimum Deposit$5
RegulationASIC, FCA, FSA & DFSA
Spreads0.4
Tradable Symbols130+
Number of Pairs70+

While known for its services as one of the best forex trading platforms, Axi also provides top-grade services in commodities, shares, bonds, and cryptocurrencies. The company is also active in the stock index sector, with up to 50+ stock indexes in its growing product portfolio, which features other trading instruments, including up to 30+ major crypto assets, 70+ forex pairs, and 7+ commodity CFDs.

A quick assessment of the Axi trading platform shows it’s quite user-friendly. The available functions in its interfaces are quite simple to use, and services are also compatible with a wide range of mobile platforms from Android to iOS. The company operates on a variety of third-party platforms that suit different trading needs, and these include the popular MetaTrader 4, (both basic and Web Trader versions), Myfxbook, and PsyQuation. 

In addition to operating on these third-party apps, the Axi trading platform also runs its own dedicated copy-trading app, which is available on the Apple and Google Play stores. This service is especially designed for new traders, enabling them to copy the trading patterns of the most experienced traders on the platform. It also offers a wealth of resources to help traders maximize their trading experience. These include multiple MT4 Video tutorials to help users learn to use the third-party app, a comprehensive blog, a trading Academy, and a selection of educational webinars and seminars. There is also a commendable customer support system for users.

On the downside, however, opening accounts on the site takes more time than it should, and that can easily make new users lose interest. Furthermore, the company could do better with a broader variety of research tools for users.

Now, let’s begin our more detailed review of the Axi trading broker and its facets. We’ll begin with a brief overview of its pros and cons.

Pros

  • Low Minimum Deposit
  • Digital Account Opening Process.
  • Affordable Fees
  • Multiple Payment Methods 
  • User-Friendly Interface 
  • Multi-Regulated  
  • Multiple Account Options

Cons

  • Slow Account Opening Process
  • 24/5 Customer Service 
  • Limited Research Tools

Axi Regulations

The Axi Headquarters is in Sydney, Australia, though it operates several regional offices across the globe, including in the UK and Dubai. Here are the company’s offices in these locations and the relevant regulatory bodies that cover them.

AxiCorp Financial Services Pty Ltd (Head Office): The head office in Australia. is located at Level 13, 73 Miller Street, in North Sydney NSW 2060. It is under the regulation of the Australian Securities and Investment  Commission (ASIC).

Company Number: 1300 888 936

AFSL Number: 318232

Axi Financial Services (UK) Ltd (London): This regional office is located at 1 Finsbury Market, in London EC2A 2BN. The office is authorized and regulated by the UK’s Financial Conduct Commission (FCA).

Company Number: 0800 018 3306

Company Reference Number: 466201

AxiCorp Financial Services Pty Ltd (UAE): This Axi regional office is located at Office 105, Al Fattan Currency House Tower 2, DIFC, Dubai UAE. This regional office is licensed and authorized by the Dubai Financial Services Authority (DFSA).

Reference Number: F003742

AxiCorp Financial Services Pty Ltd (Caribbean): Axi Financial Services in the Caribbean Sea region is located at Suite 305, Griffith Corporate Centre, in Beachmont Kingstown, St Vincent and the Grenadines (PO Box 1510). The regional office here is under the regulatory jurisdiction of the Saint Vincent and the Grenadines Finance Services Authority (SVG FSA).

AxiCorp Financial Services Pty Ltd (South Africa): Axi Financial Services in South Africa is located at 61 Katherine St, Dennehof, Sandton, 2196. 

Supported Countries

As a global company, Axi operates in over 100 countries across regions like Asia, the UK, Western Europe, and Africa. However, you can’t open an Axi account if you live in regions like the US and Canada.

Available Assets at Axi

Axi Available Assets

The Axi trading platform has 130+ tradable products in its portfolio, and these include tradable currency pairs and their cross rates, bonds, cryptocurrencies, precious metals, stock index CFDs, commodities, and exotics. These are all tradable across various financial markets, and the list has only continued to extend. 

However, it might not do so indefinitely, and you won’t necessarily find every type of asset – at least not in the near future. Still, let us review each of the available asset groups in detail.

Cryptocurrencies

Crypto assets are highly volatile and tend to present higher and more constant risk than forex pairs, but Axi keeps a pretty decent portfolio of such assets for interested traders. It currently claims to handle 30+ of such assets through CFD contracts with competitive spreads and on a 24/7 basis. These assets include popular ones like Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). 

Axi Cryptocurrency

Shares/Stocks

Axi’s most robust class of tradable assets appears to be the shares (all on CFD contracts). The company says it provides traders access to 50+ shares in some of the world’s most popular stocks from countries like the USA, the UK, and all around Europe. Tradables in this category include shares in US companies like Amazon, Alphabet, Facebook, and Microsoft; UK companies like  British Petroleum (BP), Aviva, and Lloyds; and other European companies like Deutsche Bank and Adidas.

Commodities

While forex and crypto trading involves trading in currency pairs, commodity trading involves trading in raw materials such as oil and precious metals like gold and silver. Of course, both forex/crypto and commodities involve the use of leverages, but the former requires a lot more leveraging than the latter. According to Axi, trading commodities on their platform is less about trading in the actual materials and more about trading the underlying price movements of the relevant commodities. 

Axi currently handles trades in 7+ such commodities, especially gold, copper, silver, and oil. It claims traders on the platform can profit regardless of the price movements, but that depends on a lot, so a little caution is advised.

Axi Commodoties

Indices

On Axi, investors can trade index CFDs and gain exposure to top global market indices. The broker offers access to 30+ indices from some of the largest markets in the UK, US, Europe, Asia, and Australia with a 1:500 leverage. Top Indices available include DOW, S&P 500, DAX 30, FTSE 100, EURO STOXX 50, and NASDAQ 100.

Axi Indices

Forex Pairs

70+ forex pairs are available on the Axi forex trading platform, ranging from major to minor and exotic currency pairs. This enables traders to diversify their approach to trading on the foreign exchange market by dealing with multiple currency pairs at once and distributing their asset risk. EUR/USD, USD/JPY, and GBP/USD are some examples of the available major forex pairs. Sometimes known as “crosses,” the minor forex pairs are those that don’t contain the US dollar and are traded with a lot less frequency than the major pairs, which always contain the dollar. These minor pairs include GBP/AUD, EUR/CHF, EUR/AUD, and many more.

Note, however, that exotic pairs contain the US Dollar as well. Examples of these exotic pairs are the USD/NOK, USD/PLN, and non-USD-paired ones like AUD/NOK.

Axi Forex Pairs

Spread

The difference between the ask and bid price of a trading instrument is called Spread. Spreads on the Axi trading platform are generally quite competitive and affordable, beginning from 0.0 pips. However, they can vary sharply from asset to asset, as you will see from the table below.

Leverage

The Leverage system allows traders to manage or control assets of larger value with proportionally smaller cash of their own by borrowing the rest of that value from the broker. Axi offers great leverages of up to 1:500, though how much leverage a trader can use depends on their region. Regions with more stringent regulations will generally mean smaller leverages per trader.

For example, traders in Australia are under ASIC jurisdiction and can only use a leverage up to 1:30 on any asset due to the agency’s limitation on all CFDs. This means traders can only get that much for Index CFDs, forex pairs, and commodities, while enjoying 1:5 for Share CFDs. The same applies in the UK, which is FCA jurisdiction. Traders in commodities,  indices, or cryptocurrencies can only enjoy up to 1:30 in leverages. However, the regulations are not as strict for those registered under the FSA jurisdiction of Saint Vincent and the Grenadines. The regulation for the SVG FSA allows traders to access up to 1:500 leverage. This means traders can access the full range of available leverages for each forex pair – up to 1:500 for Index CFDs, up to 1:100 for commodity CFDs, up to 1:20 for share CFDs, and up to 1:200 for cryptocurrency CFDs.

Here’s a comprehensive table of all assets in the class of Forex pairs and Commodities.

InstrumentsCFD Standard Account Spread (From)Leverage (Up to)

FOREX 

Major Forex Pairs

EUR/USD0.4 pips1:500
USD/JPY0.4 pips1:500
GBP/USD0.4 pips1:500
USD/CHF0.4 pips1:500
USD/CAD0.4 pips1:500
AUD/USD0.4 pips1:500
NZD/USD0.4 pips1:500
EUR/GBP0.4 pips1:500

Minor Forex Pairs

AUD/CAD0.4 pips1:500
AUD/CHF0.4 pips1:500
AUD/JPY0.4 pips1:500
AUD/NZD0.4 pips1:500
CAD/CHF0.4 pips1:500
CAD./JPY0.4 pips1:500
EUR/JPY0.4 pips1:500
EUR/CAD0.4 pips1:500
EUR/NZD0.4 pips1:500
GBP/JPY0.4 pips1:500
GBP/CAD0.4 pips1:500
GBP/AUD0.4 pips1:500
GBP/CHF0.4 pips1:500
CHF/JPY0.4 pips1:500
EUR/AUD0.4 pips1:500
NZD/JPY0.4 pips1:500
NZD/CAD0.4 pips1:500

Exotic Forex Pairs

AUD/NOK0.4 pips1:500
AUD/SGD0.4 pips1:500
CAD/SGD0.4 pips1:500
CHF/SEK0.4 pips1:500
CHF/SGD0.4 pips1:500
EUR/CZK0.4 pips1:500
EUR/HUF0.4 pips1:500
EUR/NOK0.4 pips1:500
EUR/PLN0.4 pips1:500
EUR/RUB0.4 pips1:500
EUR/SEK0.4 pips1:500
EUR/SGD0.4 pips1:500
EUR/ZAR0.4 pips1:500
GBP/MXN0.4 pips1:500
GBP/NOK0.4 pips1:500
GBP/PLN0.4 pips1:500
GBP/SEK0.4 pips1:500
GBP/SGD0.4 pips1:500
MXN/JPY0.4 pips1:500
NOK/JPY0.4 pips1:500
NOK/SEK0.4 pips1:500
SGD/JPY0.4 pips1:500
USD/BRL0.4 pips1:500
USD/CLP0.4 pips1:500
USD/CNH0.4 pips1:500
USD/COP0.4 pips1:500
USD/CZK0.4 pips1:500
USD/HUF0.4 pips1:500
USD/ILS0.4 pips1:500
USD/INR0.4 pips1:500
USD/KRW0.4 pips1:500
USD/MXN0.4 pips1:500
USD/NOK0.4 pips1:500
USD/PLN0.4 pips1:500
USD/RON0.4 pips1:500
USD/RUB0.4 pips1:500
USD/SEK0.4 pips1:500
USD/SGD0.4 pips1:500
USD/THB0.4 pips1:500
USD/TWD0.4 pips1:500
USD/ZAR0.4 pips1:500
ZAR/JPY0.4 pips1:500

Commodities

USOIL0.4 pips1:100
UKOIL0.4 pips1:100
BRENT.fs0.4 pips1:100
COCOA.fs0.4 pips1:100
COFFEE.fs20.4 pips1:100
COPPER.fs0.4 pips1:100
GOLD.fs0.4 pips1:100
NATGAS.fs0.4 pips1:100
SILVER,fs0.4 pips1:100
SOYBEAN.fs20.4 pips1:100
WTI.fs0.4 pips1:100
XAU/USD0.4 pips1:100
XAG/USD0.4 pips1:100
XPT/USD0.4 pips1:100

Axi Fees and Commissions

Axi Fees and Commissions

Axi fees are generally very small. For services that other brokers charge considerable fees for, the Axi trading platform either doesn’t charge any at all or simply charges minimally. This means that you can still use Axi if you trade frequently, such as several times each week or every day.

There are two broad fee types you will encounter on the platform:

Trading Fees

When you make a trade, you must pay these brokerage costs. They usually include commissions, spreads, or financing rates. Here’s a brief overview of each of these.

Spread

A spread is the difference between the selling and buying price of a financial instrument. They are generally influenced by such factors as liquidity, market news, and volatility. Spreads on the Axi trading platform also differ according to the nature of the tradable asset. For instance, the spread for forex pairs may be as low as 0.0 pips to as high as 690 pips (USD/KRW).

Commissions

These are charged based on trade volume (though, they are sometimes fixed); The higher the volume of your trade, the higher your commission. For instance, Axi charges a commission of $3.50 per standard trade lot (which makes a $7 round-trip charge). However, if you use a standard account, you won’t be charged a commission. 

Rollover Fees/Swap Rates

These are the charges for holding a leveraged position for more than a day. These charges may range from 1.7% for the EUR/USD forex pair to 3.4% for stocks like the Vodafone CFD.

Non-Trading Fees

These are obtained from non-trading actions you perform on your trading account.

Deposit and Withdrawal Fees

Deposits to an account on the Axi Trading platform are usually subject to deposit fees, though the deposits have to be above certain limits to warrant these charges. 

As for withdrawals, they are free, provided they are above $50 or constitute your entire account balance. Withdrawals below that are subject to an administration fee of $25.

Conversion Fee

The conversion fees are charged for all trades involving instruments with a different currency denomination than the one on your account. The conversion fee is the exchange rate plus a markup obtained from liquidity providers.

Inactivity Fees

The Axi trading platform also reserves the right to charge fees for prolonged inactivity or lack of open positions on a trader’s account insofar as there are funds in it. The specified inactivity period is 12 months, and the company levies the charge within thirty business days after it elapses. From there on out, continuous inactivity will attract said fee on a quarterly basis. The specific amount depends on the currency of your account. For example, for a JPY account, the fee is ¥1000, while a USD account will be charged $10.

Administrative Fees

Fees for duplicate statements, audit certification, legal costs, debt collection communications, telephone transcripts, etc., all fall under administrative fees.

Axi Trading Platforms

Axi Trading Platforms

Axi has a proprietary trading platform based on copy trading that allows users to copy the trade moves and patterns of expert traders on the platform. Unfortunately, the copy-trading platform is not available for desktop PCs at the moment.

Additionally, Axi also provides traders access to a third-party platform for a more varied trading experience, and this comes in the form of the MetaTrader 4, PsyQuation, and Autochartist platforms. This third-party platform is fully available to you, whether you favor a desktop PC trading experience or mobile trading. The mobile trading capability is particularly important in any review of trading platforms as most traders operate from mobile phones, and Axi performs quite well on that metric.

Now, let’s take a closer look at the desktop and mobile trading options for the Axi trading platform.

Desktop Trading Platform

The Axi trading platform delivers its desktop experience through the MetaTrader 4 platform from MetaQuotes Software Corporation. The MT4 platform comes in basic and MT4 Webtrader forms, but we will use the MT4, especially as it integrates very nicely with the Axi platform itself. However, it’s worth noting that the MT4 requires a bit of a learning curve as it has a lot more functions to explore. 

Axi Desktop Trading Platform

Platform Overview

MT4 has a sleek and intuitive interface that’s relatively easy to familiarize yourself with. To start with, there is the market watch, which allows you to see all the available tradable assets, including their ask and bid prices. There’s also a navigator window that allows you to switch between accounts, an Indicators’ window, supported algorithmic trading scripting options, and the Expert Advisors section, where you can see some trading advice for veteran traders and experts.

There are also fully customizable Charts for the underlying financial instruments in 9-time intervals, in addition to a terminal window, which displays a summary of all the trading activities on your account.

Axi Desktop Trading Platform

Charting Options

The MT4 platform offers a very robust charting system with multiple charting options for customization, both in functionality (including working with indicators and adding MQL4 programs) and display appearance (including bar, candlestick, line chat, background appearance, and showing/hiding elements like the Ask line and period separators).

Axi Charts

Terminal Window

Traders can access articles with expert marketing tips and insights, trading updates and signals, and their personal trading activity history through the platform’s terminal window.

Axi Terminal

Trading Tools

The MT4 has many good trading tools to help facilitate and make trading easier for clients. These include a set of analytic tools and windows for global variables.

Axi Trading Tools

Order Types

There are not too many order types on the MT4, but it has four of the basic types traders need: the market order, pending order, take profit, and stop loss. The pending order type includes the sell limit/stop and buy limit/stop capabilities.

Axi Order Types 

How to Open an Account and Trade on the Axi Desktop Platform

Opening a trading account with the Axi trading platform is a reasonably straightforward process involving steps we will now outline. However, it is worth mentioning that while you can finish most of what’s needed to open your account in less than 30 minutes, completing the registration process takes between 2 to 3 working days. This delay is because Axi needs to confirm your identity before you can fund your account and begin trading. That said, here are the steps for opening an account on the Axi trading platform.

  1. Access the platform’s web page and locate the ‘Open Account’ on the upper right of the screen. Open an Account and Trade on the Axi Desktop Platform
  2. Start the application process by filling out the details on the next page. The fields will require your full name, country, email address, contact, and application type. Once done, click on ‘Submit’ and proceed to the next page. Open an Account and Trade on the Axi Desktop Platform
  3. You will be required to set a strong password with symbols, numbers, and letters. Open an Account and Trade on the Axi Desktop Platform
  4. Specify the type of account you want to operate. Open an Account and Trade on the Axi Desktop Platform
  5. Choose your base currency and preferred leverage. Open an Account and Trade on the Axi Desktop Platform
  6. At the next stage, provide some more information about yourself as requested, including your date of birth, nationality, address information, etc.  Open an Account and Trade on the Axi Desktop Platform
  7. Specify the document type you will be used to verify your identity. You can potentially skip this stage and return to it later. Open an Account and Trade on the Axi Desktop Platform
  8. Provide information about your employment status.Open an Account and Trade on the Axi Desktop Platform
  9. Provide information about your source of income and the value of investments. Open an Account and Trade on the Axi Desktop Platform
  10. On the next page, choose the option that best describes your level of prior experience with forex trading. Open an Account and Trade on the Axi Desktop Platform
  11. The next page contains links to the Axi trading platform’s product schedule, privacy policy, client agreement, etc. Read through these and tick the box on the page to indicate you have. Open an Account and Trade on the Axi Desktop Platform
  12. Review the status of each stage of your application, then click ‘submit’ to complete. Open an Account and Trade on the Axi Desktop Platform

Axi Mobile Trading App

Axi also operates on mobile platforms, allowing clients to conduct trades on iOS and Android devices through its proprietary copy-trading app and the third-party MT4 and MT4 Webtrader platforms. All mobile versions of these trading platforms can be downloaded from the Apple app store on iOS devices like the iPhone and iPad and from Google Play Store on Android devices like tablets and Smartphones.

The mobile trading app for MT4 allows traders to monitor and trade their desired forex currency pairs and CFDs as fast as they need to, availing them of a suite of advanced trading tools that facilitate on-the-go trading. The platform has the following tabs: Charts, Quotes, Trade, History, News, and Messages.

Axi Mobile Trading App

Now, let’s overview these MT4 mobile version features.

Charts

Using 9-time frames, this tab shows the charts for financial instruments. This tab is very customizable, though much of the customizing has to be done in the setting; but it allows you to make the charts display in candlesticks or lines. There is also a zoom feature and the capacity to use technical indicators, enabling traders to predict future price movements.

Axi Mobile Trading App

Quotes 

This tab performs a number of functions, including allowing you to view all the symbols that are tradable (with increases indicated in blue and decreases shown in red), access symbol properties, place your trading orders, and open new charts from here. The tab is also customizable, allowing you to switch the view between classic and advanced modes.

Axi Mobile Trading App

Trade

This tab is comparatively sparse and only contains the functions for placing new trading orders and viewing such values as available account balance, margin, and equity.

Axi Mobile Trading App

History

Traders can view their trading history over time on this tab, especially the losses and profits accumulated.

Axi Mobile Trading App

News

Through this tab, traders can access market insights and updates from within the platform or from third parties.

Axi Mobile Trading App

Messages

This tab features messages from the MQL5 community and other attached entities like Axi.

Axi Mobile Trading App

Overall, the mobile version of MT 4 comes with virtually all the functions you can find in the desktop version. Unfortunately, the mobile version screen is limited in resolution, and that limits the capacity of mobile traders to enjoy the full technical analysis potential of MT 4.

How to Open an Account and Trade CFDs with Axi Mobile Trading App

Axi offers a mobile experience on MT4, which you can access on any mobile platform. 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 then use the login you obtain to access the live market on MT4. 

  1. Download the MT 4 app from your app store. 
  2. Open the account options, but select ‘login to an existing account’. Axi Mobile Trading App
  3. Type your Axi server option into the search bar, then select it. Axi Mobile Trading App
  4. Input your login details and tap ‘sign in.’ You can now fund your account and start trading. Axi Mobile Trading App

Once you have logged in, it’s pretty easy to open your first trade by following these easy steps:

  1. Enter the ‘Quotes’ tab on the trading app and select the instrument you’d like to trade in. Axi Mobile Trading App
  2. On the pop-up window that will appear, select ‘New Order.’ Axi Mobile Trading App
  3. The next page will contain fields for you to set up your order parameters, such as stop loss, take profit, and deviation. Axi Mobile Trading App
  4. You can execute the order by selecting ‘Sell‘ or ‘Buy.’ 
  5. You can set a pending order that executes at a later time instead by selecting ‘Instant Execution,’ whereupon you’ll be shown a dropdown menu containing options like ‘Buy Limit’ and ‘Sell Stop.’ Axi Mobile Trading App
  6. Select the one you would like to use and set the order parameters, then tap on ‘Place’ at the bottom of the screen. You should receive a notification that your order has been placed. Axi Mobile Trading App

Axi Account Types

Axi offers flexible account options to suit the diverse trading needs of clients. Each account type has its perks, which we will now examine.

Demo Account

Axi offers traders a free demo account to practice trading without risking any real funds. The account operates from the MT4 platform and comes with  $50,000 worth of virtual funds, access to real-time spreads, and a complete replica of the live market. The demo account typically has a 30-day expiry date, though users can potentially request an extension. 

Currently, Axi’s proprietary copy-trading platform does not include a demo account.

Standard Account

Axi offers a standard account that’s free of commissions. This type is suited for people entering the market newly and is fully available for both mobile and desktop traders. The account allows up to ten base currencies, namely AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD, with a minimum trade size of 0,01 lots and a spread of 0.4 pips. Other available services on this account type include steady trading news, analytics, and instant execution of trades. Hedging (both partial and full) and scalping are among the supported strategies.

Pro Account

For advanced traders, the Axi platform offers a professional account with a suite of advanced features, including MT4 VPS hosting and signal providers. This type of account comes with a round trip commission of $7, spreads from 0.0 pips, no setup fees, and a minimum lot size of 0.01 lots. Traders can open the account directly or upgrade from a standard account.

Elite Account

The elite account is a package designed for top-tier traders with lots of experience and who wish to engage in highly advanced trading. The account comes with a lower round trip commission than the pro account at $3.5, and while it shares the same lot size as the other live trading accounts, its maximum lot per clip is 200 lots. The minimum deposit for the elite account is $25,000.

Islamic (Swap-Free) Account

Axi also has an offer for the shariah-practicing traders, especially from Islamic regions like the UAE, who are prevented from earning or paying interest due to Islamic religious beliefs. In addition to being interest-free, this account type is also swap-free and features customer service and high trust and regulation.

Axi Payment Methods

Axi Payment Methods

Traders on the Axi Trading platform are able to fund their accounts and withdraw funds through a variety of deposit and withdrawal options. Here, we will review the methods for deposits and withdrawals.

Deposit Methods

The Axi trading platform supports multiple deposit options including card payments like Mastercard and Visa; e-wallets like Skrill, Neteller, and EcoPayz; various internet banking options; and crypto payments. Internet banking and crypto payment options are not available in every region, however. Moreover, the platform charges no fees for deposits. Let’s do a brief review of some of the deposit methods and their relative speeds.

Deposit MethodSpeedMinimum Deposit
MastercardInstant$5
VisaInstant$5
Bank Transfers1-3 daysNone
NetellerInstant$5
SkrillInstant€5
BitcoinUp to 15 mins$30
EthereumUp to 15  mins$30
Chinese internet bankingInstant¥1,500
Cambodian internet bankingUp to 8 hrs$25

Withdrawal Methods

Axi only permits withdrawals in compliance with established third-party transaction guidelines and stipulations. The minimum withdrawal is $5, and funds typically take 2 business days to show up on a trader’s bank, crypto, or e-wallet account, though it may take as much as 5 days for international transfers. Additionally, the target account has to be in the same name with which the trader registered on the platform.

How to Withdraw Funds from Axi?

To withdraw funds from your trading account, these are the relevant steps.

  • Sign in to your trading account on the platform using your valid Identity and password, then enter the platform dashboard.
  • Find the funding function and select the option to withdraw your funds. 
  • Select your preferred withdrawal option. 
  • Enter the amount you wish to withdraw.
  • Verify your identity and confirm the transaction.

Education at Axi

Axi Education

Axi provides traders with cutting-edge research and educational resources in both text and video formats to help them learn and improve their trading skills and familiarity with the platform. The quality of these educational and research resources appears to be slightly higher than the industry norms, and all the courses are created by active expert industry traders. The self-paced courses are flexible, allowing traders to review lessons as often as necessary. Additionally, courses are offered in 24 different languages since everyone can participate in the global trading community.

While the trading tools are fairly easy to master, there are still comprehensive MT4 video tutorials and courses on the Axi Academy platform on how to use them. Other educational resources on the platform include a proprietary blog, a collection of seminars and webinars, free ebooks, and a crypto glossary for crypto CFD traders.

Axi Customer services

Axi Customer services

Customer support on Axi is on the average level. To start with, the broker’s website has a help center, where traders can be attended to by a rather limited chatbot. But at least, it does eventually refer you to customer service on the mail, which typically takes 2-3 days to respond. Traders also have access to a pretty robust FAQs section that does a great job of anticipating popular customer queries and answering them, which was pretty helpful for this review. Additionally, the platform provides bilingual customer service by phone, and you can call them on any of their lines depending on your location. 

Email: service@axitrader.com

The Axi platform doesn’t exactly excel in social media outreach, as the only customer service outlet on social media is on Whatsapp. And though phone, email, and social media customer support are available 24hrs, they are not available on weekends.

Axi Online Reviews

Here, we will do a meta-review of user impressions about the platform. We will review platitudes from three popular internet review platforms: Reddit, Trustpilot, and ForexPeaceArmy.

What Reddit Users Say About Axi

Attitudes to Axi on Reddit are generally positive, though there don’t seem to be too many threads about this broker on Reddit. One user considers them a “nice enough bunch” after visiting their physical offices. He also commends their dedication to high standards of practice, especially with respect to their market access and spreads, and he has no problems with the re-quotes.

What Reddit Users Say About Axi

Another attests to the safety of the site under ASIC regulation.

What Reddit Users Say About Axi

What Quora Users Say About Axi

There are currently no user reviews of Axi on the Quora platform.

What Quora Users Say About Axi

TrustPilot Users’ Reviews About Axi

Users on Trustpilot are nearly polar in their assessment of the Axi trading platform, from shining reviews to very bad, with some assessments being in between. For instance, this 3-year-long user commends them for comparatively fast withdrawals and deposits, great customer service, and no blocking of user accounts – these seem to be in contrast to her previous broker.

TrustPilot Users’ Reviews About Axi

Another user considers them a great brokerage platform on security and customer service grounds, but there are some issues: the connection is sometimes subpar when scalping.  Additionally, the user claims he was asked to write a positive review, and when he did not, his email was blocked.

TrustPilot Users’ Reviews About Axi

On the polar negative end of the divide, there are users like this one who complain of funding problems and poor response from customer service.

TrustPilot Users’ Reviews About Axi

ForexPeaceArmy Users’ Review About Axi

The reviews of this broker on ForexPeaceArmy are mostly poor. Users complain of everything from their money being stuck to poor customer service. This user says they had to wait to receive their withdrawal for up to a month at the time of his review and had to go through an arduous back-and-forth with the platform’s service team. He considers customer service very poor.

ForexPeaceArmy Users’ Review About Axi

Another example is this trader who complains that the platform is great for brokers until they start making great profits. 

ForexPeaceArmy Users’ Review About Axi

Is Axi Safe?

As a multi-regulated brokerage company that has over ten years of experience working with institutional and individual traders, Axi is considered to be a safe platform for clients to trade on. It is regulated in its native Australia by ASIC and across many of its other locations by the DFSA, FCA, and SVG FSA. This means the platform is in compliance with some of the highest standards of financial safety and credibility. 

Axi ensures that all of its clients complete the KYC processes in accordance with the relevant anti-money laundering agencies, and it maintains client funds in separate bank accounts for their clients’ safety. 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.

Finally, the Axi trading platform allows traders to secure their funds by using the stop-loss function.

Other Products and Services at Axi

Other Products and Services of Axi

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.

MT 4 VPS Hosting

By subscribing to an MT4 Forex VPS hosting service for round-the-clock access, you may improve dependability and make sure that your trades are never halted.

Other Products and Services of Axi

MyFxBook Autotrade

This is an automated analytical tool that connects to your forex trading account online, enabling you to:

  • Manage and keep track of all trading accounts and systems in one location through an online portfolio
  • Utilize cutting-edge statistical analysis tools to analyze data in your trading system or account automatically.

Other Products and Services of Axi

Bottom Line

Axi does reasonably well to give customers the best pricing, immediate transaction execution, and a secure trading environment; it is well-regulated by top financial regulatory agencies in four different locations. It is also available in a host of locations around the world, with offices in at least 6 regional locations.

The sign-up process is pretty straightforward and the website is very easy to navigate. However, completion of registration takes up to two days, which may not be okay for many brokers, but this is partly due to the need to thoroughly verify the identity of clients through the KYC process before they can trade on the site. So, that’s a plus for security.

The platform’s array of tradable assets is quite robust, as it allows trading CFDs in all kinds of forex pairs, indices, commodities, and crypto assets. All of these come at fairly great spreads and leverages, though how much of the latter a trader gets to enjoy depends on the limitations set by the regulatory body in their region. Additionally, the charges are fairly reasonable, and the commendable variety of payment methods makes deposits and withdrawals pretty easy.

The platform provides numerous account options that are ideally suited to the requirements of certain clients. Additionally, the availability of swap-free Islamic accounts makes it simple for traders who follow the shariah to look into interest-free trading opportunities. This is in addition to the commendable flexibility of trading strategies, which traders may freely employ. The educational resources are also commendable, though their customer service requires a bit of improvement, especially in terms of chatbot functionality and social media availability, as we can see from some of the reviews here. 

Q & A

Yes, Axi is regulated by four different regulatory bodies across its many locations.

Yes, traders can trade crypto CFDs on the platform.

To login to the Axi trader platform, locate the ‘Login’ button near the top right corner of the Axi homepage. Then supply your MT 4 login and password in the fields provided on the next page. Then, click ‘Login.’

Yes, the Axi platform is easy to use and great for beginners.

Axi offers five account types, including the demo account.

Yes, Axi offers an affiliate program called Axi Affiliates, where you can earn commission for referring customers.

Axi’s minimum deposit is $0 for the standard, pro, and islamic accounts, but it’s $25,000 for the Elite  account.

The maximum available leverage on the Axi trading platform is up to 1:500.

Yes, Axi allows investors to trade in Stock CFDs.

From our assessment, Axi is trustworthy due to its compliance with multiple regulatory requirements and its readiness to handle and resolve all customer complaints.

You can start trading on Axi by first opening an account and registering on the platform. Then, you can download the relevant app (MT 4 or Copy Trading), log in, fund your account, and start trading.

The Copy Trading app is the only proprietary trading platform Axi offers.

The least Axi spread is from 0.0 pips.

Axi fees are quite small, making them affordable for almost any trader.

Depending on the method, Axi withdrawals can take anywhere between 24 hours to 5 working days.