Axi is an online trading company that has been in operation since 2007. Rebranded in 2020 as Axi from its former legal entity, AxiTrader, the firm emerges fresh with a new range of trading services that included ultra-competitive pricing, lightning-fast transactions, a rock-solid infrastructure, and a round-the-clock customer support that had won multiple awards.
In this assessment of Axi’s services, you’ll learn valuable info about the company’s multi-faceted services and approach to trading. Also in this review , as well as the factors to consider before deciding to build an account with the brokerage. But first, let us rundown Axi’s advantages and setbacks to picture out what to expect about its services.
Low cost on trades
No charges on deposits and withdrawals alike
Intuitive account creation
No balance requirement
ASIC and FCA-regulated among others
Limited market coverage
Inadequate research tools
As already mentioned, this is just an overview; we will dive further into Axi’s many competencies.
The Firm’s Background & Safety
A Sydney-based firm built in 2007, the brokerage, Axi had now solidified its place in the international terrain as a Forex trading firm. Axi is proud to be among the select few brokerage sites to cross the $100 billion trade volume mark with its customer trading worldwide (owed to linkages to different financial firms). With over 60,000 traders across 100 countries worldwide, Axi continues to expand as a brokerage firm with a good client support fortified by its 8 global sites.
Axi boasts of its 2 tier-1 regulatory affiliations with FCA in the U.K. and the ASIC. Being backed by these two major regulatory bodies, Axi may be considered a safe brokerage to do trades through.
Axi also takes pride in the sound trading conditions that it fosters. These are seen by the online trading community to be standouts to what the more mainstream and well-known online brokerages offer.
Axi traders benefit from the firm’s state-of-the-art trading technology, raw spreads, competitive account balance minimum, and 24/5 multilingual support.
Axi offers a wide selection of assets in markets namely Commodities, Foreign Currency Exchange (80 currency pairs), Indices, and Cryptocurrency in CFDs.
Axi Account Classifications
Axi offers its clients access to competitive spreads for its trading accounts. Axi’s offered accounts include the Standard and the Pro. But in terms of account ownership, Axi has three other account types classified as the individual account, joint account, and corporate account.
The review team was surprised to find out that opening an account with Axi through either the Standard or Pro does not cost anything at all. Easier put, no amount is needed for one to open an account with the firm.
The Spreads featured in the Standard Account are high whereas the Spreads in the Pro Account are lower. A round trip commission amounting to $7 is charged to users of the Pro Account. Traders based in the United Kingdom can open Axi’s special account called Spread Beating Account, a tax-free account.
Unlike some brokers, Axi does not charge for inactivity. Additionally, a demo account is provided for traders wanting to test their strategies without risking their money. Swap-Free Accounts are also available through the firm.
Axi accepts several funding methods. Bank transfers, credit and debit cards, and popular online payment solutions like Neteller, Skrill, and Giropay are approved.
Easy deposits and request withdrawals are available round-the-clock through Axi’s Client Portal.
Axi Trading Platforms & Tools
Axi offers nothing fancy as it sports the industry-known MetaTrader 4. This iteration of the popular trading software are tailored to offer several formats compatible to all operating systems. This is also being offered through the WebTrader version.
A variety of languages are available through the platforms. However, it must be noted that changing the language through an Android device is more challenging as this should go hand-in-hand with changing your phone’s default language.
Axi houses a comprehensive educational package for its users. The firm has in its artillery enriching materials like a beginner’s course, resources for the CFD trading basics, online seminars and webinars, and video tutorials. More so, the broker’s Axi Academy offers a wide scope of materials complemented through eBooks and market blogs that are all free-of-charge.
Needless to say, Axi is a sound option for beginning traders in search of a safe haven in light of the firm’sstrong regulatory credentials. They can also benefit from the zero-deposit account opening and deposit and withdrawal transactions that are not charged in any way.
The only thing that the review team saw to be a point against Axi is its lack of an advanced trading platform and limited research tools and resources.