Axiory does offer an excellent demo account. This account is ideal if you are just starting out in the industry or checking the broker out for the first time. It is an unlimited account meaning that it does not expire.
The demo account means you can trade completely risk-free with virtual currency in an environment that fully replicates real trading. The demo account can also be used with any of the Axiory account types and supports all available tools and leverage functions. You can open multiple demo accounts without problem and even keep them open after you open your Axiory live account while the support team is always on hand to help.
The Axiory Standard account type is available and a popular choice with a very low $100 minimum deposit making it easy to get started. The spread on this account type averages 1.2 pips on major assets like the EUR/USD and you can expect no commission except for stock CFD trades that attract a $0.04 per CFD commission.
Trading through this account type will give you access to both MT4, and cTrader depending on your preference, and thanks to the open for of regulation leverage of as much as 1:400 is offered.
The Nano account is a great choice if you would like to lower your risk. The minimum deposit here remains $100 with the lowest spreads you will find at the broker. These average just 0.2 pips on major assets like the EUR/USD though a round turn per lot commission of $6 is charged, and the same $0.04 per stock CFD traded does apply.
Again you will have access to extensive leverage amounts up to 1:400 and access to both major trading platforms MT4, and cTrader.
The Max account offers huge leverage of up to 1:777 and is a great choice if you are looking to trade at the highest volumes. The minimum deposit here for this type of account is $50 with no commissions apart from stock CFDs trading which attracts a $0.06 per CFD commission.
You will find the highest spread on offer here with an average of 1.8 pips on the EUR/USD but the leverage is a major point of appeal for many. Again you will have access to both MT4 and cTrader platforms.
In a very positive point for Islamic traders, a fully Shariah law compliant Islamic account is offered. The Axiory Islamic account can be approved through contact with the support team or your broker business development representative after which it will take a maximum of 24-hours to be activated.
This option is available for all account types you will find at the broker and conditions are good. You will be charged an additional commission instead of a swap-fee when you decide to hold positions open for a longer period. These commissions start from $3 and go up to $8 depending on the position.
Live Night Account
This type of account is unique in that it is extremely fast to allow you trading access. You can begin trading through this account type within just a few minutes of opening the account and you will only need your personal ID to get started.
The most you can trade here is $1,000 using your credit card and one of the restrictions is that you can only withdraw the amount you have deposit regardless of the profits you make.
Finally, a corporate account is offered by Axiory. Again this comes with a very competitive minimum deposit at $100 and a variety of other benefits for you to take advantage of. These include being able to appoint a fund operator and have tailored spread options based on your needs alongside other tax advantages.
The lowest trade size that you can place through this account is 0.01 lots. This adds up to a currency value of $1,000 as a minimum trade size.
Account Base Currency
When it comes to the available Axiory base currencies you will only find two. These are the USD, and EUR. Making a deposit in another currency may mean that you have to pay a small currency conversion fee.
Here is everything you need to know about making a deposit with Axiory:
Axiory Minimum Deposit
The Axiory minimum deposit is $50 in general. This however does depend on the account type you choose. With the Max Account, $50 is the minimum. With the Standard or Nano accounts though, the minimum deposit is $100.
There are a variety of deposit methods available with Axiory, each with its own processing time that we will look at in more detail here.
A deposit with your credit or debit card is possible and this will be immediately processed to your account.
- International Wire Transfer
An international wire transfer is possible but it is one of the slowest methods and takes between 3-10 days to process into your account.
Multiple other methods are available through eWallets you can use. These include Neteller, Skrill, Vload, BitPay, ThunderXPay, and Sticpay although Stickpay is not available to corporate clients, and ThunderXPay only allows USD deposits. These can all be processed quickly within 15 minutes in most cases.
When it comes to the deposit fees, we have broken them down into separate categories as follows:
Credit or debit card deposits are usually fee-free. The only time this is not the case is if you are making a deposit of less than $200 then you will be charged a $10 fee.
- International Wire Transfer
Again these are often fee-free at least from the broker side. If the deposit is less than $200 a $15 fee is charged, and your own bank may have wire transfer fees you should check.
- Sticpay, BitPay, Neteller, Skrill, Vload, ThunderXPay
Again for a deposit of less than $200, a $10 fee is charged while the payment method provided may also have its own fees in place.
You will also need to bear in mind that you may encounter conversion fees if depositing in a currency that is not a base account currency. In this case, any currency other than USD or EUR.
When making a withdrawal you will find all of the same available options as when you are making a deposit.
An extra security measure of 2-factor authentication is in place when making a withdrawal for the security of your funds. This means you will receive an email that you need to click and verify your withdrawal in order for it to proceed. If you don’t click this email link then the withdrawal will not process and the funds will stay in your account.
Aside from international wire transfers, any withdrawal of less than $200 will be charged a $10 fee. In the case of wire transfers this fee increases to $15 for withdrawals under $200.
Above this threshold, withdrawals are typically fee-free though the payment provider may charge a fee of their own that you should check, and again a conversion fee could apply if you withdraw any non-USD or EUR currency.
Spreads & Commissions
A floating spread is offered by Axiory with the average amount varying on each account type. With the Nano account, the average EUR/USD spread is 0.2 pips. This increases to 1.2 pips on a standard account, or 1.8 pips on a MAX account.
Here are some other fees you may come across when trading at the broker:
Overnight fees are charged by Axiory as with other brokers. The only exception is you have an Islamic swap-free account. This depends on the interest rate at that moment on each currency from the central banks so it is impossible to say for certain. You may pay or receive this fee and can get more information at the time through your trading platform.
No inactivity fees are charged by Axiory.