Axi Review: Pros and Cons Uncovered 2023

Founded in 2007, AXI has gained popularity among traders engaged in scalping and auto trading thanks to the low spreads and fast execution speeds on offer. They also offer an excellent algo-trading service.

From their Australian roots, AXI has grown to now operate worldwide with 5 offices in locations around the globe.

The expert team at InvestinGoal has worked to examine all the key features of AXI including costs, account types, minimum deposit, and much more so that you can gain a complete understanding of what the platform offers.

Here is a summary of the key strengths of AXI include:

• A wide array of trading platforms available
• Low spreads offered throughout
• No minimum deposit requirement
• Lightning-fast order execution provided

With several trading platforms to choose from, many traders opt to try the AXI demo account first. This is available on all account types and trading platforms the broker offers, so it is an ideal starting point to help identify the best trading platform choice for your needs.

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Our Opinion on AXI

Axi is a global ECN broker for CFDs trading. They are a top choice for low spreads, fast execution, trading platform choice, and no minimum deposit. Although no direct social or copy trading is available, they do allow algo-trading, scalping, hedging and offer a list of great VPS though have a limited range of 130 assets to trade.

When it comes to copy and social trading, you can import strategies indirectly through your EAs feature in the trading platform, though it is not quite the same interactive experience you may find at some other dedicated brokers.

Pros and Cons

Pros

Though there are drawbacks, there are certainly advantages.

These include the fact you won’t need to make any minimum deposit and you will have access to a good range of base currencies including all of the AUD, CAD, CHF, EUR, HKD, JPY, NZD, PLN, SGD, and USD with which to utilize a great depth of liquidity at some of the fastest execution speeds in the industry.

Discussing value you will find a very low spread from 0 pips if working with a Pro account and an equally competitive spread from 0.4 pips on Standard accounts. The broker also provides for a great range of VPS choices in ForexVPS, MetaTrader VPS, BeekSFX VPS, and CNS.

Cons

Considering the downsides or limitations of the broker, there are a few points to mention. The number of available assets at just over 130 may be a concern for some experienced traders though the list does include forex, index, commodities, and cryptocurrencies.

Depending on location crypto trading may also only be open to professional traders.

Commenting on the research section we can say it lacks some depth comparative to others, and is also not available in every supported language, while the social and copy trading features are limited too. Finally, withdrawal times have been known to take a little longer on occasion, 3 days or more.

Pros and Cons: a summary

The table below highlights some of the key broker areas, and the pros and cons in each.

If you want to expand your research, and evaluate some options similar to this broker, you can consult the alternatives to Axi.

Forex ECN Review

Since Axi is an ECN broker, they typically offer very low spreads. A commission of $7 is also applied per lot on a round turn trade if you are using a Pro account. Added to that, the execution speed is typically lightning fast and you don’t have to worry about receiving any requotes.

What you will have to deal with are a few more fees like commissions and overnight fees due to the low spread. Still though, this means a spread from 0.4 pips on a standard account and from 0 pips on a pro account with the $7 commission.

There are more than 50 forex pairs available and you will find the average spread is just 0.2 pips on EUR/USD and 0.5 on GBP/USD with Pro Accounts, which is very low.

With this in mind then, Axi is a great ECN broker choice for ultra-low spreads. If you want a massive range of assets though maybe there are other more ideal choices.  .

Pros

• Spreads are really low and start from 0 pips
• Really fast execution speeds are provided
• More than 50 forex pairs are available to be traded

Cons

• The $7/lot commission for Pro accounts is a little on the high side compared to other brokers

Trading Platform Review

The Axi trading platform provided is a proprietary one. This is through the extremely user-friendly AxiOne trading platform which is connected to more than 20 liquidity providers for the best depth and fastest order execution.

The platform is fully integrated with many tools, services, and connectivity options offered by Axi and provides for the needs of all trader types extremely well. Here you can trade all the available assets including Forex, CFDs, Spread Betting, and Metals.

Overall then Axi is a great choice if you prefer a feature-filled proprietary trading platform. If you are looking for direct copy trading though, there may be more ideal choices.

Pros

• An excellent proprietary trading platform is available
• Deep liquidity can be accessed from many providers
• Multi-asset trading is well provided for

Cons

• Not every asset is tradable in every location

Spread Betting Review

You can start spread betting through Axi. This is only available to their UK and Irish traders though due to regulatory requirements. Again here you will be glad to find there is no minimum deposit needed.

This makes Axi a great place if you want to try spread betting at a low starting cost.

Pros

• No minimum deposit is required to start spread betting

Cons

• It is currently only available to UK and Ireland-based traders
• Only a limited range of assets are available

Scalping Review

Again scalping is permitted by Axi. This means if you are a scalper then the broker is an excellent choice thanks to the supportive environment, low spreads, and fast ECN execution.

This is also backed up by a great range of charting tools and indicators that their own platform, as well as MT4, provides, though the limited asset choice can be an issue.

Pros

• An extensive range of tools helpful to scalping are accessible
• Deep liquidity and fast execution both assist in the scalping process

Cons

• Again there is a limited asset selection for scalping

Algo Trading Review

Also supported by Axi is Algo-trading. This can be carried out very effectively through the EAs feature of the MT4 trading platform.

The broker also allows for you to use many additional services to complement your trading such as MyFxBook, API trading, Autochartists, and PsyQuation run by AI.

Overall then, Axi is a top choice for algo-trading with many supportive features and an excellent environment to carry out your trades.

Pros

• Top-class trading platforms are helpful to make algo-trading convenient
• Advanced trading tools are accessible to assist in the process

Cons

• The service is not as user-friendly as some with a steep learning curve

Is Axi regulated and legit?

When it comes to regulation, Axi recognizes the importance of trusted regulation for traders. They act on this by providing well-respected regulatory oversight from three key bodies. The different entities of the broker are regulated by the following bodies depending on where you are located around the world.

• Axi Limited (Axi) is regulated by SV (25417)
• AxiCorp Financial Services Pty Ltd is regulated by ASIC (318232) and DFSA (F003742)
• AxiCorp Limited is regulated by FCA (509746)

This focus on regulation ensures that you are well taken care of when it comes to trading safely and securely at Axi.

Foundation and Offices

Axi is an Australian broker founded in 2007. Since that time they have grown to become a well-recognized presence in the industry and they now operate a total of 5 physical locations around the world. These offices are located in the following places:

• Sydney (Australia)
• Auckland (New Zealand)
• London (UK)
• Dubai (UAE)
• Kingstown (St. Vincent and Grenadines)

This means that Axi should be very well placed to deal with you as a global trader no matter where you are located.

Money Protection

Solid regulation is not the only protective measure in place for traders at the broker. They also provide you with negative balance protection. This means you cannot lose more than you deposit in your account, though if you have more than one account, the balance of one can be used to cover the other.

For example, if you gave two accounts, one with a $500 balance, and the other with a $200, then your balance can go to -$500 on the other account since you have enough to cover it. Of course, the balance in the covering account will be deducted to reflect this as appropriate.

To further enhance your protection, segregated accounts are always used. This means that if the broker ever ran into bankruptcy or insolvency, your money would always be safe. This policy is bolstered by the availability of ICF insurance for traders in the UK. This can cover your funds up to £85.000 if anything happens.

Awards

Axi is also an award-winning broker. They have collected many accolades over their years in the sector.

These include several in recent years like the Most Trusted Broker (UK Forex Awards 2018), the Best Asian Forex Trading Platform (Global Forex Awards, 2019), the Most Transparent Forex Broker – Middle East (forex-awards.com, 2019), and the Best Forex Broker – Europe (forex-awards.com, 2019).

It is always a positive to be dealing with a respected broker that has been recognized in the industry.

Countries where Axi is not available

Axi offers its services to over 40,000 customers in more than 100 different countries. Even so, there are still a few places where they do not offer trading services. These banned countries are as follows:

Account Types

Here is a deeper look at all of the account types you can expect to find when you are trading through Axi.

Demo

A demo account is one of the best places to start at any broker. This can be ideal if you are new to trading or the broker and provides you with a no obligation, risk-free method of getting to know the broker in an account which replicates real trading with virtual funds. An Axi demo account is offered, though this account is only valid for 30 days of trading. You can though open another demo account easily with just some basic information such as your name, country, and a valid email address.

Axi Standard Account

The first Axi account type available that you will note as being both available and popular, is the Axi Standard Account. This account type has no minimum deposit at all and provides an excellent and highly competitive spread for you to start trading of just 0.4 pips with no additional commission.

This will provide you access to more than 140 assets that can be traded as CFDs as well as a host of other benefits including use of a VPS, EAs through your trading platform, and a number of free charting analysis features.

Axi Pro Account

The next Axi account type available is the Pro account. This again features no minimum deposit with an even more competitive starting spread. This spread starts from 0 pips although there is a $7 per round turn commission on forex trading. This is still very competitive in comparison with other major brokers. Again you will have access to more than 140 tradable markets with the same range of great additional features.

Axi Islamic Account

At the moment, there is no Axi Islamic account on offer. Islamic accounts, also known as swap-free accounts, are fully compliant with Shariah law as they do not charge swap fees. If you are interested or in need of this account type, then you can always check out our full article on the best swap free Islamic forex brokers to learn more.

Axi MAM Account

An Axi MAM account is available and perfect for you if you are managing multiple accounts as an experienced trader and fund manager.

This account type is available with access to the MT4 trading platform, and allows for a total of 6 allocation methods to be applied to each sub-account under your management. In addition, you will benefit from a great range of risk management tools which are available to provide you assistance.

Axi Professional Account

Differing from the other Pro account, this Axi professional account is available to EU and UK traders only. Also in order to qualify, you must meet at least two of the following requirements:

• You must have made an average of 10 transactions of significant size per quarter in the past year.
• You must possess a financial instrument portfolio of over €500,000 in value (in your bank or trading account) .
• You must have relevant experience in the financial services sector.

If you meet two of these criteria, then you will be eligible to open a professional account type. Here you will have access to a range of benefits including an increased leverage of up to 400:1 on forex.

Deposit and Withdrawal

Account Base Currency

At Axi, there are a number of base currencies available for you to select from. These include the AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD.

Ultimately this should provide you with a great deal of choice so that you can avoid paying any currency conversions fees if your deposit or withdrawal method currency does not match up.

Deposit

Here is exactly what to expect if you are planning on making an Axi deposit. This includes any minimum deposit and also the methods available as well as the fees.

Axi Minimum deposit

You will be very glad to hear that Axi does not require any kind of minimum deposit when you are opening an account. With that said, brokers typically recommend a deposit of at least $100-$200 in order to get the most out of the service.

Deposit Methods

With Axi deposit methods, it is first important to note that the USD, AUD, CAD, CHF, EUR, GBP, and SGD are usually supported by every deposit method available here. Additional currencies, especially asian currencies like the CNY, THB, IDR, MYR and more are supported depending on the deposit methods.

When it comes to methods available, wire transfers can be used and typically take 1-3 days although they are only available in the EU. Credit/Debit cards from Visa, MasterCard, and JCB can also be used and typically provide instant deposits. eWallets are also available and instant in the form of both Skrill and Neteller.

Additional methods available include WeChat, FasaPay, Bpay, POLi, Sofort, GiroPay, iDeal and local asian internet banking deposit methods. These too can all be instant depending on the exact method which you use.

Deposit Fees

Deposits with Axi are typically free-free. The only cases where a fee might be applied is if you incur a fee from your own bank for a wire transfer, or you incur a conversion fee if your deposit method does not match your base currency.

Withdrawals

Here is the lowdown on Axi withdrawals and what you should expect.

Withdrawal Methods

With Axi, you can withdraw in EUR within Europe, and EUR-USD outside the EU. All of the same methods are available as with the deposit methods including wire transfer, credit/debit cards, eWallets, and many others.

An Axi withdrawal typically can take up to two days and there is usually a $5 minimum withdrawal depending on the method you use.

Withdrawal Fees

Withdrawals through Axi are typically free of any fees.

Trading Fees

With commissions and spreads at the broker, only floating spreads are offered. These are generally kept very low and start from just 0.4 pips on an Axi standard account, and drop again to start from 0 pips on a pro account with a reasonable $3.50 a side per lot traded.

Overnight Fees

Overnight fees are common among every broker, and are the charge you incur for holding a position overnight. These fees are charged on basically every asset at the broker since they are dealing in CFDs and the fee is charged at the closing hour of the market.

Since it is a fluid fee depending on the market and asset, you will need to check for exact numbers at the time which you can do through your trading platform.

If you are an islamic trader, you may be interested in opening a rollover free account, but since Axi doesn’t offer them, we suggest looking at our top 10 swap free accounts for your best options here.

Non Trading Fees

Inactivity Fees

Axi does not charge any inactivity fee. This is a good bonus since many top forex brokers do charge some kind of inactivity fee.

Markets

Axi is a CFDs broker, every asset listed on the platform is offered in CFDs. Here is a detailed look at exactly which markets are offered for trading by the broker.

Forex

There is a great range of more than 70 forex pairs available for trading at Axi. This includes major, minor, and exotic currency pairs with excellent value spreads that start from 0 pips thanks to the extensive liquidity of more than 20 providers that is available to the broker.

Commodities

A total of seven commodities are available for trading, again all as CFDs. This selection includes 3 metals in the form of gold, silver, and copper. 2 energies that are, natural gas, and oil, and 2 agricultural commodities in coffee and cocoa.

Indices

There are 11 indices available that are traded as futures at Axi. These include markets from around the world in Europe, Asia, and Australia. 3 mini-indices are also available to be traded. They are the NAS100, SPX500, and EU50, perfect for lower risk trading.

Cryptocurrencies

Axi offers 5 cryptocurrencies which are also traded as a CFD. The cryptocurrencies available include the following: Bitcoin, Dash, Ethereum, Litecoin and Ripple.

Do note that under FCA regulation, crypto trading CFD is only for professional traders.

Execution, leverage and position sizing

Executions

Axi is an ECN broker. This means you will benefit from instant market executions depending on your account type. This is also a very popular execution style which ensures you can benefit from the fastest executions possible while making use of the deep liquidity the broker provides.

Leverage

The leverage available to you at Axi is dependent upon which regulatory body you are operating under, and also which assets you are trading.

If you are registered with AxiCorp Limited in the UK/EU your leverage will be a maximum of 30:1 due to regulations. The only exception here is if you are a professional customer this leverage can be increased to 400:1.

If you are registered with AxiCorp Financial Services Pty Ltd. under ASIC regulation, then the maximum Axi leverage on forex is again 30:1, and finally if you register with Axi Limited (Axi) under SV regulation, then the maximum leverage available on forex is 500:1.

Sizing

The minimum trade size at Axi is 1 micro lot. This is equal to 0.01 standard lots or a cash value of $1,000 non-leveraged. This amount could be significantly lower if you are utilizing the available Axi leverage.

Risk Management

A vital key to success in trading is the ability to manage risk. Axi provides well for this by offering a number of order tools provided by the trading platforms. These include the ability to set stop losses, trailing stops, and take profits which can help manage your current positions.

Limit orders will help manage your entry into new positions, and the margin calls provided will ensure your equity never drops below a particular level. All are important tools in guiding you towards successful trading.

Forbidden trading techniques

When it comes to trading techniques, you will be glad to find a broker in Axi who is very open in this respect. Both scalping and hedging are allowed, while algo-trading is supported through the EAs functionality of MT4. VPS too are permitted to be used here. In fact, the broker provides a number of VPS options for you to choose from as follows:

ForexVPS – They offer 24/7 customer support at a price of $34,99/month, but Axi will cover the fee if you trade more than 20 lots per month.

MetaTrader VPS – This MetaTrader proprietary VPS is available at a cost of $10/month

BEEKSFX VPS – This service uses IBM servers with a bank-quality infrastructure. direct optical fiber communications provide for a supreme <1ms latency.

CNS Forex VPS – This VPS has been specifically designed for Forex traders. It is priced at $35/month and provides for a very high security level. It is also both fast and customizable.

There you see the range of techniques that is very well supported, alongside a broad offering of VPS services that not every broker makes available.

Platforms & Mobile

With Axi, there are a wide range of trading platforms and tools available and at your disposal. Here is a rundown on exactly what you will have to work with.

Charting and Trading tools

A total of 51 charting indicators and 31 drawing tools are available thanks in the most part to MT4 and the other third party platforms. One click trading directly from the charts is also available which is perfect for scalping, and price alerts can also be set. All round, this makes for a highly customizable trading experience at Axi.

Axi MT4 Desktop Platform

Axi offers MT4 as a desktop platform to you as a trader. This is of course, one of the most respected and powerful trading platforms in the entire industry.

It can also run on almost any device and has over 50 indicators and charting tools in places along with being a very easy to use platform. If you are into algo-trading, then you will also benefit from the availability of EAs here that you can get from the trading community to implement, or code yourself. The platform can be run on both Mac and Windows devices.

Axi MT4 Webtrader Platform

MT4 is also available as the Webtrader platform with Axi. Here you can gain access to all of the same excellent features that you can on the desktop trading platform, but directly through your browser and without having to download anything. You can log in directly from the Axi website.

Axi Psyquation

Axi also provides access to the Psyquation platform for free if you are a trader, even though it is usually a subscription-based service.

This is an AI-powered analytics platform run through machine learning which can provide a detailed analysis of charts to help you better understand your trade positions and in the most detail possible. It is easier to use than it sounds, and could really provide you with some great trading insights to help manage your trading.

The platform is available as a webtrader, again directly through your browser.

AxiOne

AxiOne is a proprietary platform provided by the broker which can offer access to spread betting if you are a UK-based trader, and a range of other assets including forex, metals and other markets for trading as CFDs.

Here you will be able to take full advantage of the deep liquidity provided by more than 20 liquidity providers with hundreds of additional sources to Axi. Through the very intuitive platform you will also have completely integrated access to trading across seven different exchanges.

Axi Mobile Platform

The Axi mobile trading platform is provided through MT4 mobile and is available through iOS, Android, and your tablet devices. Again this mobile platform is easy to use and provides comprehensive access to all markets including powerfully detailed charts and tools so that you miss none of the action even on the move.

Special features you can find on Axi

Here is a look at some additional products that you may encounter when trading at Axi.

AxiPrime

The AxiPrime service is one which is available for institutional clients and offers full and complete access to the whole range of Axi’s liquidity which is extensive, and allows these institutional, and professional clients to access the most competitive pricing possible that they in turn can then provide to their clients.

Social Trading – Copy Trading

There are no copy or social trading services made available directly by Axi, though your use of EAs which is permitted, could function as a form of copy trading if you are taking them from the wider community of traders which you can do.

Customer Service

Languages

With language availability, there are more than 10 languages that you can access through the broker website. These include English, Spanish, Russian, Arabic, Chinese, Thai, Vietnamese, and more. This provides for a very healthy level of language support for traders around the world.

Customer Service

Customer service at Axi is well provided for through a number of mediums. This includes a website-based live chat, email, and several telephone numbers.

An extensive FAQ section is also supported through the website which can answer many of the most common questions you could have. Again in this area, multiple languages are well supported.

Research and Education

Research

Unfortunately, research is an area in which Axi does not perform particularly well. The research section with the broker only provides access to an economic calendar and no other insightful research tools like you may find with other major brokers.

Education

The education section at Axi makes up for the underwhelming research area in many ways. The broker provides an extensive range of materials in this regard that includes a huge choice of more than 60 tutorial videos. These can help you every step of the way in trading forex and more.

There are also video tutorials on the MT4 trading platform and eBooks available on both forex and stocks to keep you up to date and growing your knowledge.

FAQs

Is AXI legit?

Yes, Axi is legit, safe, and well-regulated. They have been operating in the industry providing service for a long time and are well-trusted by traders. For more information you can check our AxiTrader Review.

Does AXI allow MT4 or MT5?

Yes, the broker does offer MT4 as a trading platform choice. Axi is a great MetaTrader 4 broker. It offers a good number of additional MT4 services, including Forex VPS.

How much is the AXI minimum deposit?

Axi does not have a minimum deposit, however it’s recommended to deposit at least $100 to make the best use of the broker and what they have to offer. For more information you can check our AxiTrader Review.

Where can I find an AXI no deposit bonus?

At this time, Axi does not offer a no deposit bonus.

Is AXI a good broker for the UK market?

Yes. Axi is a great broker choice for the UK market. They can offer very deep liquidity combined with low fees and very competitive trading costs throughout.

How much are the AXI withdrawal fees?

Axi Withdrawals usually have a $5 fee depending on the withdrawal method that you choose. Some may also be free of any fees.

Is AXI a Market Maker?

No, Axi is not a Market Maker. They are an ECN broker.