Axi is an online forex and CFD broker that has received multiple global honors. Since its establishment in 2007, the company has been expanding its global business and now has over 60,000 active users in more than 100 countries worldwide. Its strong technical support and rich trading tools have earned it high praise in the industry.
What is Axi？
Axi, founded 15-20 years ago in the United Kingdom, operates under the regulatory oversight of the Financial Conduct Authority (FCA) with license number 466201. This regulation ensures compliance with securities trading standards, bolstering trust in the platform's reliability and security.
Axi offers a wide range of tradable securities, including shares, IPOs, and index CFDs, with zero commission on share and index CFD trades.
With competitive spreads starting from 0 pips, Axi serves traders of all levels. It provides two primary account types, the Standard Account and the Pro Account, each tailored to different trading preferences and strategies.
Additionally, Axi offers robust customer support services, advanced trading platforms such as MT4, and a wide array of educational resources to empower traders worldwide.
Regulatory Status
Axi operates under the regulatory oversight of the Financial Conduct Authority (FCA) with license number 466201, indicating its compliance with securities trading regulations.
This regulatory status assures traders of the platform's adherence to stringent standards, instilling confidence in the integrity and security of their transactions.
Pros and Cons
Pros:
Competitive spreads: Axi offers competitive spreads, with some as low as 0. This means traders can access tight pricing, reducing their trading costs and potentially maximizing their profits.
Multiple trading assets: Axi provides access to a wide range of trading assets, including forex, shares, indices, commodities, and more.
Robust customer support: Axi offers robust customer support services, available 24/7. Traders can reach out to the support team via phone, email, or live chat for assistance with account-related inquiries, technical issues, or trading queries.
MT4 with innovative trading technology: The platform provides MT4 and incorporates innovative trading technology, such as advanced charting tools, customizable indicators, and one-click trading functionality, enhancing the trading experience.
Regulated by FCA: Axi is regulated by the Financial Conduct Authority (FCA), one of the most reputable regulatory bodies in the financial industry.
Free education resources: These resources include online courses, webinars, tutorials, articles, and educational videos covering various topics such as technical analysis, fundamental analysis, risk management, and trading psychology.
Award-winning and globally-recognized: Axi has received numerous awards and recognition for its excellence in the financial industry.
Cons:
Higher commission for some currencies: While Axi offers competitive spreads, it charges higher commissions for trading certain currency pairs or instruments. This can impact trading costs, particularly for traders who frequently trade these currencies.
Tradable Securities and Services
Axi offers a wide range of tradable securities, providing investors with ample opportunities to engage in the financial markets.
Shares: Axi offers access to a wide array of shares, allowing investors to trade in individual stocks. With over 100 stocks to choose from, including those from the US, UK, and European markets, users have ample opportunities to build diversified portfolios tailored to their investment goals and preferences.
IPOs (Initial Public Offerings): Investors can participate in IPOs through Axi, gaining access to newly listed stocks in the market. This provides an opportunity to invest in companies during their early stages of public trading, potentially capitalizing on their growth prospects.
Index: Axi provides access to a variety of index products, offering exposure to the performance of major global indices. With over 15 index CFDs available, including indices from the US, UK, Europe, Asia, and Australia, investors can track the broader market trends and diversify their portfolios across different regions.
Market Instruments
Axi offers a wide range of trading assets across various markets.
Forex presents opportunities to trade currency pairs, allowing investors to speculate on the fluctuations in exchange rates.
Shares provide access to stocks of publicly listed companies, enabling traders to participate in the equity markets.
IPOs offer opportunities to invest in initial public offerings, allowing traders to capitalize on the debut of new companies.
Indices represent baskets of stocks, reflecting the overall performance of a specific market or sector.
Commodities encompass raw materials such as metals, energies, and agricultural products, providing avenues for diversification and hedging against market volatility.
Commissions and Fees
Axi offers a zero commission model for share Contracts for Difference (CFDs), allowing traders to execute trades without incurring any additional commission fees.
Similar to share CFDs, Axi also imposes zero commission on index CFD trades. This fee structure enables investors to engage in index trading without being burdened by commission costs. Axi charges spread as low as 0.2 pips for index trading.
While Axi advertises zero commissions on share and index CFDs, other fees apply. These could include financing fees, also known as swaps, which are charged for holding positions overnight.
When comparing Axi's fee structure with other popular brokers, its zero-commission policy for share and index CFDs is competitive. In the realm of brokerage fees, a zero-commission model is generally considered advantageous for traders, as it reduces the overall cost of trading.
Account Types
Axi offers two primary account types: the Standard Account and the Pro Account.
The Standard Account is designed to accommodate a wide range of traders, offering a setup cost that is free of charge. With spreads starting from 0.9 pips, this account serves traders seeking competitive pricing without the requirement of paying commissions. It is suitable for all clients, regardless of their trading experience or level of activity.
On the other hand, the Pro Account serves traders who may have more advanced trading strategies and prefer tighter spreads. While it also offers a free setup, the Pro Account features spreads starting from 0.0 pips, making it particularly appealing to active traders who prioritize low-cost trading. However, it does incur a commission of $7 round trip (USD) per lot traded. Despite the commission, the Pro Account is still suitable for all clients and offers additional features such as free VPS and Autochartist.
Platforms & Tools
Axi offers traders access to the widely used MetaTrader 4 (MT4) platform, renowned for its robust features and user-friendly interface.
With MT4, traders can easily execute trades across various financial instruments while leveraging a suite of tools to enhance their trading strategies. The platform facilitates efficient trade execution, enabling traders to capitalize on market opportunities promptly.
Axi's integration with Autochartist provides traders with valuable market insights, including trading alerts, market reports, and volatility warnings, empowering them to make informed decisions.
Additionally, the partnership with Trading Central enhances traders' technical analysis capabilities by offering adaptive candlestick patterns and dynamic indicators. Axi also provides MT4 Forex VPS hosting services, ensuring uninterrupted connectivity for traders.
The platform further supports traders with trading calculators to manage risk effectively and comprehensive guides on IPO trading and economic calendar events.
Deposit & Withdrawal
Axi offers a range of payment methods for deposits, including Credit/Debit Cards and International Bank Transfers, supporting multiple currencies such as AED, CAD, CHF, EUR, GBP, HKD, PLN, SGD, USD, and ZAR.
The minimum deposit varies depending on the method, starting from USD 5 for Credit/Debit Card deposits and USD 10 for International Bank Transfers. Maximum deposit limits span up to USD 100,000, with instant processing for Credit/Debit Card transactions and 1-3 days for Bank Transfers, all free of charge.
For withdrawals, Axi provides options like International Bank Transfers and Credit/Debit Cards, supporting various currencies. The minimum withdrawal amounts range from USD 5 to USD 50, depending on the chosen method. Maximum withdrawal limits extend up to USD 10,000,000, with withdrawal times typically taking 1-3 days. Similar to deposits, withdrawals are free of fees, ensuring transparency and convenience for traders.
Customer Support
Axi offers robust customer support channels for traders worldwide.
Traders can reach out for assistance via phone at the UK number +44 203 544 9646 or the international number +61 2 9965 5830.
Additionally, customer support is available via WhatsApp for convenient communication.
Educational Resources
Axi provides a comprehensive suite of educational resources tailored to traders of all skill levels.
From online courses at the Axi Academy to insightful guides and analysis on the Axi blog, traders can access a wealth of knowledge to enhance their trading abilities.
The inclusion of MT4 tutorials and free eBooks further enriches the learning experience. Additionally, Axi offers essential news updates, market analysis, and expert commentary to keep traders informed and abreast of relevant economic events and market trends.
Overall, Axi's educational resources appear competitive, offering a robust platform for traders to continuously improve their skills and stay informed in dynamic markets.
Conclusion
In conclusion, Axi presents a compelling option for traders seeking a reliable and regulated platform.
Its advantages include competitive spreads as low as 0 pips and zero commission on share and index CFD trades.
With over 140 trading assets and 24/7 customer support, Axi accommodates various trader needs.
However, while offering tight spreads, it imposes a $7 round trip commission on Pro Accounts, potentially impacting trading costs.
Moreover, though regulated by the FCA, higher commissions for specific currency pairs could deter some traders.
Despite these drawbacks, Axi's comprehensive platform, advanced tools, and educational resources position it as a solid choice for traders navigating the financial markets.
FAQs
Question: What is Axi's minimum deposit requirement？
Answer: Axi requires a minimum deposit of $5 USD for opening an account.
Question: How can traders contact Axi's customer support？
Answer: Traders can reach Axi's customer support team 24/7 via phone, email, or live chat for assistance with any queries.
Question: What trading platforms does Axi offer？
Answer: Axi provides access to the MetaTrader 4 (MT4) platform, renowned for its user-friendly interface and advanced trading features.
Question: Is Axi regulated？
Answer: Yes, Axi is regulated by the Financial Conduct Authority (FCA).
Question: What educational resources does Axi offer？
Answer: Axi offers a range of educational resources including the Axi Academy, online courses, webinars, articles, and tutorials to help traders improve their trading skills and knowledge.
Question: What payment methods does Axi support for deposits and withdrawals？
Answer: Axi supports various payment methods, including Credit/Debit Cards and International Bank Transfers.
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