Finding an account to invest in is a difficult task, but perhaps if you take a look at our AXI review you will see in greater depth what it is about and what it can offer you.
However, this time we will focus on an important aspect of a platform, which is the AXI types of accounts and discover if any of them can be adapted to our needs as traders.
Now that you are aware of what topic we are going to discuss, it’s time to get started.
Table of contents
AXI Account Types
Let’s get to the first type of account.
AXI Demo Account: try the broker’s service
Using a demo account is a great step for a beginner trader. This demo account will be available for you for 30 days. In this risk-free account the trader will be able to use virtual money. This type of account replicates the real market and the best part is that you won’t be committed to opening a live account with AXI. But it’s important for you to know that if you want a demo account forever, you will need a live account as well.
AXI Standard Account: for a basic service
This is a popular and available account that everyone uses. There will be no minimum deposits and it´s spreads start from 0.4 pips. With this account there are no commissions charged and you will be able to access 140+ tradable assets. It also has a few plus characteristics as included and you will have EAs through your trading platform. Other things you will find are charting analysis features for free.
AXI Pro Account: for better spreads
As well as the previous one, the pro account doesn’t ask for a minimum deposit. The pro account gives you a more competitive starting spread.
This type of account will start with 0 pips and there is a 7$ per round turn commission.
As in every other platform this is usually the kind of account that everyone searches, just because the number of plus things you will find
Islamic Account: for Halal trading with Axi
This account is a new thing in the AXI platform. This account has no swaps and no interest. It is also regulated just like any other account and you will be able to find more than 140 assets to trade.
Its client services it’s truly great and count with a variety of languages in which you can communicate with them.
But definitely the most important part about this account is that you can use it as a complement to an MT4 account. This is an option that you can get in many types of platforms and you should take advantage of it.
AXI Multi-Account Manager: for money managers and professional traders
Using this particular account type has its own condition, that means that it´is only available to approved and regulated operators of discretionary accounts or managed investment schemes.
About the trade block owners, it goes from a single master account through the MT4 terminal.
It also allows for a total of 6 allocation methods to be applied to each sub-account under your management. It is also important to highlight that their Trade sizes start from 0.01. The MAM accepts all normal order types: Market, Stop, Limit and also unique order types like, Trailing Stop, Close, Close All.
To close its characteristics let’s also say that it has a Fast and reliable MT4 server.
AXI Account Opening
Opening a Live Account
This process couldn’t be easier, if you follow a certain number of steps you will have your account in less time than you’d imagine.
Providing personal documents to prove your identity such as a passport will be the first thing to do, a proof of residence will be necessary too, however, we will talk about it ahead.
Answering a couple of short questions will be the last part of the process and then you will be surely good to go.
An account verification shouldn’t take you more than a few minutes, at least if we are talking about the process.
The process may vary depending on the country you are based in. In any case, you may need the following documents:
Proof of residence (Bank statement
Proof of Identity (ID, Passport)
Now let’s move on to how to get your money in and out. In AXI you can find a great variety of payment methods. The most important thing is that their payment methods are between the most common and used methods in the market.
You can find:
Major Credit and Debit Cards
eWallets: Skrill, Neteller
You could also find WeChat, FasaPay, Bpay, POLi, Sofort, GiroPay, iDeal and local asian internet banking deposit methods.
About the currencies that the platform accepts, AXI allows deposits in 18 different currencies depending on the deposit method chosen. These are the following:
AXI doesn´t require a minimum deposit to start trading with them. This makes a difference between AXI and other platforms that require at least $100-$200 in order to get the most out of the service.
Though AXI allows deposits in several currencies, only a few of them are actually supported as base currencies, and these are the following: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, USD.
Keep in mind that depositing in a currency that does not match your trading account currency, may result in conversion fees during both deposits and withdrawals.
AXI usually does not charge fees during deposits and withdrawals. However, there are a few exceptions in this rule, read the following to be sure if you apply for those exceptions.
A fee from your bank may incur
A conversion fee
If you exceed the monthly USD$50.000 Fee Free Limit, AXI reserves the right to pass on your Neteller and Credit card transaction fees.
About the withdrawals you may know that they can come with a minimum value of 5 (50 by bank transfer). Also, a big important data it´is to know that waiting times are a standard of 3 business days, only apply to some methods.
AXI Account Management
Using a demo account will last about 30 days, even if you are not using it. However, you can extend that time by paying a live account, so you can use both.
Also, there is no inactivity fee on any account.
How to close AXI Account
In order to stop using any of your AXIs account and closing it, there are a few steps that need to be followed so the process can be a success.
Withdraw all your funds if you haven´t, this is more important than anything.
The balance must be Nil.
Now you can contact the support team and explain your reasons through a written request
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.
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