However, the broker is regulated by several other reputable financial authorities including ASIC, FSA, DFSA, and FCA. It has no hidden fees, no withdrawal, and a deposit fee as well. The company does not charge an inactivity fee and promotes simple and fast execution. The firm offers competitive spreads starting from 0.0 pips, and spread betting is possible. Axitrader has developed the MetaTrader 4 (MT4) Platform for traders to enjoy the maximum capacity to trade using the more advanced version of the famous platform in the trading industry. This includes keeping client money separate from company funds and providing regular financial reports.
With this account, you can track your progress with comprehensive trade history and analysis. AxiTrader has invested in co-located servers and fiber optics for faster, more accurate trading with its advanced technology. Axi offers 24/5 customer support via e-mail, live chat, or phone using ten toll-free numbers, but I did not find an FAQ section. Axi explains its products and services well, and I believe most traders will not require assistance. In case of emergencies, Axi customer support is easily accessible in 13 languages.
AxiTrader Minimum Deposit
There is also a Help Center with in-depth information about deposits, withdrawals, and more. Perhaps the most unique feature of Axi is AxiSelect, offered to users trading under AxiTrader Ltd. This groundbreaking capital allocation program gives talented traders the opportunity to get funding of up to $1,000,000 USD and gain up to 90% of the profits. These regulations ensure strict compliance with industry standards and protect client funds. AxiTrader, or Axi, is a competitive and reliable forex broker that has established a name for itself in the industry. It offers a wide range of features and services that benefit both novices and experts.
- However, Axi changed its name in October 2020, which was known as AxiTader from the beginning.
- He has contributed to top platforms such as Investopedia, GoBankingRates, and Investing.com, where his expertise in Forex markets and digital assets is widely recognized.
- It offers a wide range of trading instruments, including Forex, shares, indices, commodities, cryptocurrencies.
- This tool features forex education and teaches another trading.
Fees
AxiTrader is authorized and supervised by the 2 key regulatory bodies, the Financial Conduct Authority (UK) and the ASIC. What’s best as well about the service and assistance being offered by Axi is that the firm offers free eBooks. This material is very helpful in any trader’s journey in trading. This is also something to look forward to when trading with AxiTrader. The company accepts a vast variety of funding options such as Moneybookers/Skrill, Neteller, Wire Transfer, Credit Card, and BPAY, to name just a few. As it promotes fast processing of funds, it means that processing should take no longer than 10 minutes to reach your account, with a few exceptions.
Forex Trading Platforms
He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch. Though AxiTrader is not regulated by MAS, it is regulated by other reputed regulatory authorities including ASIC, FSA, DFSA, and FCA. AxiTrader offers traders the ability to trade indices, commodities, Forex, cryptocurrencies, and some CFDs with competitive spreads. Due to this, the company understands any type of trader and strives to deliver the best service, support, and as well as materials that they can.
How does this broker make money from you?
- We consider the FCA regulation to be the best since it provides compensation of up to £85,000 in case the broker goes bankrupt.
- ASIC also stipulates that brokers should have a representative office in Australia, and cannot operate from an overseas location.
- Mobile trading comes in handy for those who are on the run always and what to trade from anywhere.
- With that being said, you will find our more comprehensive usability rating of Axi in the chart below.
- In the beginning, traders had to use the desktop as there were no web or mobile platforms.
Its MT4 offering, as well as its MT$ NextGen, are highly praised by traders worldwide because of its high-level functionality and great user experience. It is also straightforward and easy to navigate, making it a popular choice for beginning traders. Besides, the Axi in the UK must comply with the European Securities and Markets Authority (ESMA), which basically limits the offered leverage.
What Is The Best Trading Platform For Beginners?
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. CFDs and cryptocurrencies are complex, leveraged instruments that carry a high level of risk.
Axi Trading Platform stands out for its unwavering reliability. The platform’s stability and consistent performance create a trustworthy trading environment. Knowing that I can rely on Axi for seamless execution and real-time data gives me confidence in my trading decisions. We waited for 1-8 minutes before being connected to the customer service team via the live chat function. We encountered a hitch as our two Neteller withdrawal requests were declined. Looking at the spreads charged in our trades, we found that they were all lower than industry benchmarks.
However, trading with the best forex broker can reduce the risk significantly, and Axi is such a broker, which you should know by now from this Axi review. Besides, Axi neither charges non-trading fees nor deposit or withdrawal fees. Once done with the demo, you may go for life if you decide to invest real money.
As a result, Axi is regarded as secure because a number of top-tier authorities regulate it. WebTrader gives you access to use your MT4 platform on any web browser you’re using. There is also the option for a swap-free Islamic account to be opened upon request depending on your belief. Within the Islamic accounts in Axi, you don’t have any interest rate on the buy or sell orders along with swap-free accounts. ASIC also stipulates that brokers should have a representative office in Australia, and cannot operate from an overseas location. Mobile trading comes in handy for those who are on the run always and what to trade from anywhere.
What is the Axi minimum deposit?
I also appreciate the swap rates, which accurately reflect the global interest rate environment, free of excessive broker mark-ups, as evident at many brokers. While the asset selection is limited, I think Axi is an excellent choice for pure Forex traders with 70 currency pairs. Axi provides traders with the out-of-the-box MT4 trading platform and upgrades axitrader review it free of charge with the Autochartist plugin.
Author of this review
These are important factors to consider before you decide to open an account with any broker. To make things short, yes, Axi is a good broker for trading beginners, in our opinion. The set-up of the website is very intuitive, and there is a vast selection of educational materials to help you get started. With that being said, you will find our more comprehensive usability rating of Axi in the chart below.
However, clients will have their personal manager, so they can call the managers directly whenever needed during the business days. In the case of forex fees, it also depends on the Axi account types. However, the commission structure is $3.5 per trading lot, which also provides a low spread cost at the same time. CFD fees are not so high either; for CFDs, the trading fees are average.
Axi mainly uses three means for deposit cards (Debit and Credit), e-wallets, and bank wire. However, depositing with cards is the fastest, and balances are available right away. Traders can deposit any amount they want as there is no Axi minimum deposit. Axi demo account is a mirror of the real account, but you cannot withdraw any money from the account, and all the virtual deposits will be gone after 30 days. Axi always focuses more on transparency, which means you will know your fees and commissions before placing an order or trade.