AxiTrader Review 2021: Unbiased Pros and Cons revealed

Welcome.

In this AXI review you will find the results of much dedicated time spent by InvestinGoal’s team of experts studying the quality of the broker.

Here’s how to navigate this report on AXI, and all of our reviews in general:

• Part 1: First thing, in the “Our Opinion” section you will find a brief summary with our personal opinions on the broker AXI, plus the Pros and Cons and important factors to watch out for.
• Part 2: Secondly, within this section, you will then find more detailed points and opinions about specific broker’s offerings or services (e.g. Is AXI a good ECN forex broker? Is AXI good for Algo Traders?).
• Part 3: After the opinions section you will find four macro-areas in which we have carefully reviewed every single aspect of AXI. They are Security, Costs and Accounts, Trading and Education, and Support.
• Part 4: Our quick answers to some common FAQs about AXI.

We suggest you use the sticky menu to easily navigate this content.

And don’t forget to leave a comment at the end of the post. Share your honest opinion on AXI, or ask specific questions if you couldn’t find an answer on our site.

The best thing you could is to open a free demo account to try out first-hand the AXI platforms, to be able to fully follow this report.

OPEN AN AXITRADER DEMO ACCOUNT

AXI Summary: Who is AXI suitable for?

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.

Problems and Advantages to consider before starting

Problems

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.

Advantages

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.

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

AXI Pros and Cons

Axi ECN Account and Forex 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

Axi 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

Axi 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

Axi 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

Axi 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

We begin our AxiTrader review in one of the most vital areas to all traders. That is security. The broker has been around since 2007 and has built a very trusted reputation in the industry. WIth that in mind, let’s take a closer look at exactly what they have to offer in keeping you safe and secure while trading.

Foundation and Offices

AxiTrader 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 AxiTrader should be very well placed to deal with you as a global trader no matter where you are located.

Regulations

When it comes to regulation, AxiTrader 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.

• AxiTrader Limited (AxiTrader) 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 AxiTrader,

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

AxiTrader 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.

Not Accepted Clients

AxiTrader 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:

The next area we will cover in this AxiTrader review is another of great importance. Here we will take a detailed look at the account type selection that is available at the broker, alongside any costs which you may encounter while trading here.

First off, you should note that the process of actually opening a live AxiTrader account is actually very easy. Here you simply need to provide some documents in the form of your proof of ID (A passport would be best), proof of residence (a bank statement or utility bill would be best), and the answers to a few short questions on your trading experience. From there your account should be quickly verified and good to go.

Account Types

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

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 AxiTrader 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.

AxiTrader Standard Account

The first AxiTrader account type available that you will note as being both available and popular, is the AxiTrader 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.

AxiTrader Pro Account

The next AxiTrader 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.

AxiTrader Islamic Account

At the moment, there is no AxiTrader 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.

AxiTrader MAM Account

An AxiTrader 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.

AxiTrader Professional Account

Differing from the other Pro account, this AxiTrader 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.

Account Base Currency

At AxiTrader, 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 AxiTrader deposit. This includes any minimum deposit and also the methods available as well as the fees.

AxiTrader Minimum deposit

You will be very glad to hear that AxiTrader 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 AxiTrader 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 AxiTrader 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 AxiTrader withdrawals and what you should expect.

Withdrawal Methods

With AxiTrader, 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 AxiTrader 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 AxiTrader are typically free of any fees.

Spreads & Commissions

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 AxiTrader standard account, and drop again to start from 0 pips on a pro account with a reasonable $3.50 a side per lot traded.

Fees

Here is some information on other fees that you might encounter when you choose to trade at AxiTrader.

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 AxiTrader doesn’t offer them, we suggest looking at our top 10 swap free accounts for your best options here.

Inactivity Fees

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

With your AxiTrader account hopefully up and running, we move on to more details about the kind of trading experience you can expect to have with the broker. This includes the range of trading features made available, along with a full rundown on the markets and assets you can trade in.

Trading Features

Focusing on trading features at the broker first, here is what is in store once you get started at AxiTrader.

Executions

AxiTrader 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.

Sizing

The minimum trade size at AxiTrader 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 AxiTrader leverage.

Techniques

When it comes to trading techniques, you will be glad to find a broker in AxiTrader 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 Axitrader 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.

Risk Management

A vital key to success in trading is the ability to manage risk. AxiTrader 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.

Leverage

The leverage available to you at AxiTrader 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 AxiTrader leverage on forex is again 30:1, and finally if you register with AxiTrader Limited (AxiTrader) under SV regulation, then the maximum leverage available on forex is 500:1.

Platforms & Mobile

With AxiTrader, 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 AxiTrader.

AxiTrader MT4 Desktop Platform

AxiTrader 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.

AxiTrader MT4 Webtrader Platform

MT4 is also available as the Webtrader platform with AxiTrader. 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 AxiTrader website.

AxiTrader Psyquation

AxiTrader 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 AxiTrader. Through the very intuitive platform you will also have completely integrated access to trading across seven different exchanges.

AxiTrader Mobile Platform

The AxiTrader 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.

Markets

AxiTrader 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 AxiTrader. 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 AxiTrader. 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

Bitcoin is the only cryptocurrency available for trading and this is also traded as a CFD.

Products

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

AxiPrime

The AxiPrime service is one which is available for institutional clients and offers full and complete access to the whole range of AxiTraders 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 social or copy trading services made available directly by AxiTrader, 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.

In the final section of our AxiTrader review we will take a closer look at two areas which could really impact you both in the present moment, and moving forward with the broker. These areas are education and support. Let’s examine what is on offer in both of these regards at AxiTrader.

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.

Research

Unfortunately, research is an area in which AxiTrader 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.

Customer Service

Customer service at AxiTrader 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.

Education

The education section at AxiTrader 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.

Is AXI legit?

Yes, AxiTrader 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. AxiTrader 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?

AxiTrader 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, AxiTrader does not offer a no deposit bonus.

Is AXI a good broker for the UK market?

Yes. AxiTrader 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?

AxiTrader 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, AxiTrader is not a Market Maker. They are an ECN broker.