The information and videos are not investment recommendations and serve to clarify the market mechanisms. As explained in the section above, AxiTrader has many advantages for traders, such as no deposit, withdrawal, or inactivity fee. Nevertheless, like every other broker, Axi also makes a profit from each of your trades. The exact spread depends, and the instruments you trade, and the commission will mostly depend on your account type. Since Axi was founded by traders for traders, the firm understands the importance of costs and fees in trading.
Deposits and Withdrawals
- We review all brokers to a strict and unique methodology, to ensure that we only promote high quality brands that you can trust.
- It offers some of the industry’s leading trading conditions, such as ultra-low spreads from 0.0 pips, high liquidity, flexible leverage, and more.
- The team was hands-on and really cared about our success, guiding us through challenges with personalized support.
- An index is a financial product that tracks the performance of an entire market, a market sector, or a specific group of assets.
Your trading experience with Axitrader is significantly influenced by its platform usability. The combination of intuitive features, streamlined navigation, and minimalistic design enhances your overall trading efficiency. With various tools and functionalities at your fingertips, the platform aims to provide a user-friendly environment tailored to both beginners and experienced traders alike. Axitrader’s approach prioritizes favorable conditions, but it’s crucial to understand that tight spreads can vary based on market conditions.
Pros and Cons
One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. Axi offers a positive swap on EUR/USD short positions, meaning traders get paid money. Axi is a member of the Financial Commission, an international organization engaged in the resolution of disputes within the financial services industry in the Forex market.
Please be aware that this might heavily reduce the functionality and appearance of our site. In fact, it won ‘Best MT4 Provider’ in compareforexbrokers.com.au and UK Forex Awards in the year 2018. The intuitive design and easy navigation made trading straightforward, even for a beginner like me. Setting up my account was a breeze, and the platform’s responsiveness has been consistently reliable. Everything is laid out clearly, which saves me time when executing trades. The learning curve was minimal, and I felt confident using the platform after just a few sessions.
US Trader Accounts & AXITrader Regulation
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. AxiTrader’s customer support team was helpful and provided direct and relevant answers to our questions, but not at all times. On our first interaction with the customer service team via live axitrader review chat we received an inaccurate answer to our question.
Additionally, the broker may charge fees for specific services, such as overnight financing/swap rates, withdrawal fees depending on the method, and inactivity fees after prolonged account dormancy. However, the majority of feedback emphasizes Axi’s consistent performance and dedication to providing a secure, transparent trading experience, making it a dependable choice for traders worldwide. As for the important question about margins, Axi offers access to flexible leverage options with competitive costs.
For international bank wire transfers, your bank may charge you a receiving fee. This non-transactional fee is your responsibility; please check with your bank if you are unsure. Also, the broker will require Proof of Identity and Proof of Source of Funds before processing withdrawals through international transfers. The broker does not guarantee the same-day receipt of funds, as processing times are subject to the receiving bank processes outside their control. Axi will not charge an inactivity fee if there has been a period of no trading activity on your account.
About the Editorial Team
The company is open about its policy on slippages and warns its clients on both positive as well as negative slippage. The company had offered bonuses in the past but has faced several criticisms on their terms and conditions. Conflicts of interests had forced the broker to remove promotions entirely by providing a straight-forward brokerage service without indulging in rewards or bonuses. It offers a trading platform that gives traders access to the latest market data, and the company strives to deliver exceptional client support. Traders trading with this broker will enjoy direct access to multiple destinations of liquidity in forex markets.
To mitigate that, Axi goes directly to over 20 top-tier liquidity providers and uses co-located servers in key locations worldwide. As a result, the broker makes use of a shorter, therefore faster, connection. This simple approach results in faster execution, more accurate pricing, and minimal slippage.
In terms of fees, Axi’s pricing is competitive, especially for traders using its commission-based accounts. However, the fees can vary depending on the account type and entity a trader uses. For example, spread-based accounts may have slightly higher costs compared to competitors like IC Markets or Pepperstone, which offer lower average spreads. Axi also offers swap-free accounts for clients with specific religious or personal preferences, but these accounts are only available to select regions or clients.
In this broker review, we will pay attention to the critical aspects of Axi, which you may consider before deciding whether to trade with this online brokerage. Despite its strengths, Axi has a somewhat underwhelming aggregate score on Trustpilot, achieving 4.3 out of 5 stars based on 2,248 consumer reviews. As many as 73% of all reviewers are satisfied with the broker’s services, assigning 5-star ratings.
This account covers the full market and allows you to trade Forex, Commodities, and CFD Indices from a single trading terminal. It is easy to use and has fast execution with the feature of MT4’s one-click trading. It enables you to track your progress with comprehensive trade history and improve with analysis too.
Testing Axi’s mobile apps revealed a seamless and efficient user experience designed for traders at all levels. Both apps demonstrated robust performance, with intuitive navigation, fast execution speeds, and access to real-time market updates. Traders can monitor and modify their positions with ease, supported by an intuitive interface and powerful features. The platform offers real-time charting with a wide range of customizable indicators, allowing traders to perform detailed technical analyses.
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. 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.
- 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.
- Here is a detailed look at exactly which markets are offered for trading by the broker.
- The Axi Group is a global broker, with regulatory licenses in Australia, New Zealand, DFSA and the United Kingdom.
- Axi (AxiTrader)’s asset offering is clearly designed for high net worth forex traders.
- You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources.
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. 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. AxiTrader UK is a brand belonging to AxiCorp Limited, a company regulated by the UK Financial Conduct Authority (FCA). It is a wholly owned subsidiary of an Australian financial firm called AxiCorp Financial Services Pty Ltd. Since the broker complies with financial regulations and offers excellent customer support, clients from all over the world trust it.
Again here you will be glad to find there is no minimum deposit needed. AxiTrader has its pros and cons, but it is a reliable and trustworthy broker, especially if you are interested in spread betting. We encourage you to get started at AxiTrader on a demo account and then move on to live trading. AxiTrader offers an integrated tool called MAM that enables single traders to execute trades on all accounts under one master account. It enables traders to place multiple orders at high speeds on multiple accounts. This platform comes with features such as advanced management tools, sentiment trading, and enhanced ordering.