Axi Review | Trade with a Trusted Broker

Axi Review | Trade with a Trusted Broker

by | Jul 28, 2023 | 0 comments

Axi Review | Trade with a Trusted Broker


From humble beginnings in 2007, Axi has rapidly grown to encompass a large portion of the forex market. Our Axi review found out that they offer one of the best trading platforms globally and other unique features.

The London-based brand of Axi launched in 2012, and when they expanded by 2015, they had hit $100 billion in monthly volume moved by clients.

Currently, the Axi brand is regulated in the UK by the FCA under the London Company AxiCorp Limited brand. ASIC also regulates them in Australia under the name AxiCorp Financial Services Pty Ltd.

The regulation is further expanded to other regulatory agencies in multiple jurisdictions. It is safe to say that Axi is the best forex broker with a great reputation, making them an excellent choice for both learning and expert traders.

In 2016, AxiCorp announced that it had received a significant strategic investment from RGT – a leading Australian private equity firm. The goal of this initiative was to help drive its global growth. It is how they can offer services across so many countries.

At the moment, over 100 countries are eligible to trade with Axi. Right now, they host over 40,000 traders with 8 offices around the world to ensure smooth sailing.

                      Axi Quick Summary

🏢 Headquarters Australia
📆 Established 2012
🗺️ Regulation FCA, ASIC
🖥 Platforms Only MT4
📉 Instruments Forex, Commodities as well CFDs and Indices, Bitcoin
💳 Minimum Deposit $1
💰 Deposit Methods Credit/Debit Cards, Bank Wire, Skrill, Neteller, China Union Pay, FasaPay
📱 Mobile Trading Available
🌍 Web Trading Available
💵Minimum Trade Size 0.01
🎢 Maximum Leverage 1:400
🌍 ECN Available
🤖 Robots Available
🎯 Scalping Allowed
☎ Customer Support 24/5

Axi Regulation

Axi has a solid reputation, even though there are some issues with the license in Australia and the subsidiary regulated in St. Vincent and the Grenadines. AxiCorp Financial Services is the parent company and owner of all subsidiaries operating under the Axi name.

Until January 2020, Axi was regulated by ASIC. However, their license was suspended over some issues, and the broker appealed. They continue to operate, pending a resolution for this case.

The Axi subsidiary that is regulated and authorized in St. Vincent and the Grenadines is the one that is supposed to be for international clients. In our Axi reviews, we make a point of checking the claims made by brokers.

A search on St. Vincent and the Grenadines website for Commercial Intellectual Property Office did not return any results for Axi.

However, in general, the broker seems to have a great reputation. The license issues are probably temporary as the broker continues to enjoy success and great reviews from clients and industry experts.

The theory is that this is an oversight by the company. If you feel any additional concerns, you should call in and talk to them about this. They will likely offer a good explanation for it. Other than that, they seem to take client trust very seriously.

Axi Bonus for Deposits & Promotions

Many of the regulations imposed by the regulatory agencies overseeing Axi, have everything to do with client protection, among other reasons. One of the new introductions in the rules involves restricting brokers from offering bonuses to clients.

There is no official mention of any Axi deposit bonus or promotion of that kind. The reason for that is legal compliance. If you find anyone offering a bonus in the name of Axi, you would be wise to ignore it. Scammers always pretend to be from a legit broker and try to con people.

Axi Trading Fees

When comparing the trading fees between brokers, we always have to consider the most important things. We will look at the leverage, commission, and spreads that you will find when trading with Axi.

There is a lot to like about their fee structure. To get a clear look that contains everything that you need to know, we have to look at the details of how much you would have to pay if you were trading.

We will select specific products, leverage each of them, and determine how much you will have to pay if you sell after a week. So, here are the products we are going to look at:

  • Currency pairs: EUR/USD, AUD/USD, EUR/CHF and GBP/USD
  • Stock index CFDs: EUSTX50 and SPX

For forex, we are going to choose a volume of $20,000 and then a volume of $2,000 for stock indexes.

Axi Financial Instruments

Traders can diversify and do more when they have access to great markets and financial instruments. The selection at Axi is somewhat limited when you compare them with other brokers on the same level.

However, they provide instruments in forex, stock indices, and crypto CFDs. However, they do not have Stock and ETF CFDs.

The best part about this broker is that you can CHANGE LEVERAGE when you want to. This useful feature allows you to have a firm handle on how much you want to risk and how much you stand to lose.

Instead of using the 1:5 leverage on stock indices, you can lower it to something like 1:3 and only be exposed to a manageable risk. If you lose, then you know that you are losing the amount of money you can afford.

Always check the pre-set levels of leverage on forex and CFDs, as it is usually high.

Axi Minimum Deposit, Withdrawal and Deposit Options

Through its Australian entity, Axi requires a minimum of $500 deposit for Australian residents to open a standard account. However, non-residents have to deposit a minimum of $1,000. In the British unit, there is no minimum level for either the standard or the PRO.

You will get many options for depositing and withdrawing your money. As we have outlined in this Axi review, there is a lot to like about the company. The options include:

Credit/debit cards and bank wires: clients choose Skrill, Neteller, China Union Pay, FasaPay, Thai International Banking, Vietnamese Instant Banking, and Polish Instant Banking.

Withdrawing takes 2-5 depending on the method you use. Over time, the broker has promised to introduce instant payments that can be made directly to your phone.

Axi Account Opening

Axi is overseen by strict regulatory rules that require clients to fulfill compliance checks. The checks ensure that you are safe and legible for trading. The FCA and ASIC require the broker to ask you for some documents before giving you an account.

So, as you prepare to open your Axi account, make sure that you have the following things:

A colour copy of your national ID, state-issued ID, passport, driving license, or other official identity documents. They are used to prove your identity.
A bank statement or utility bill that is no older than three months, showing your address clearly. These documents are used as proof of the address you provide and ensure that you live in the country you indicated.
After you deliver these documents, you will be asked to answer some compliance questions that confirm how much you know about the market. It will take about ten minutes for you to finish the account opening process.

Before you start opening an account with this broker, you need to make sure that you know enough about the markets and how they work. Otherwise, you will not be able to answer the questions they ask.

If you get someone else to do it for you, that will only hurt you when the trades finally fail.

Because of the rigorous Axi regulation and compliance process, it might take a few days to determine whether you passed or not.

Axi Account Types

Like any of the reputable and successful brokers, Axi provides you with a demo account that will allow you to familiarize yourself with how it all works. They mainly use MT4 as the standard account of choice.

Traders can choose from two Axi account types. There’s the Standard account and the Pro Account.

The Standard Account comes with higher spreads and no commission charges. The Pro Account has raw spreads and commission included.

In comparison, the Pro Account trading experience is better than the Standard Account. However, it all comes down to what you require to be effective.

The maximum Axi leverage is 1:500 because Australia is one of the few countries where leverage has not been capped yet. In Europe, for instance, the leverage is capped at 1:30. The main features you will find in both accounts include:

  • Quote accuracy of up to the 5th digit
  • Hedging and scalping are allowed.
  • MT4 is the platform provided
  • The minimum trade sizer per lot is 0.01
  • You are provided with a 30-days free demo platform to train yourself.

The Standard Account spreads start from 1.0 pips, and the Pro Account spreads start from 0.0 pips.

Axi Education and Research

Most of the research you would have to do is done by the Autochartist plugin and PsyQuation Premium tools. That is alright. If you need more tools to do your research, you can look through the market analysis section of the Axi website.

They post great content that included market commentaries that give traders all kinds of ideas on how to think about the trades. If you combine that with what is provided by the Autochartist plugin and the AI-based PsyQuation Premium tool, you end up with a package that can get you through most trades.

Even the education part is outsourced to the PsyQuation Premium platform that alerts you to mistakes while trying to make you a better trader. However, that is not all there is on Axi. If you want to learn more, you can access additional information.

There are educational articles, video tutorials, online courses, and eBooks.

All these provisions come together to ensure that new traders can learn what they need to know before signing up for an account.

Remember, we mentioned that the compliance checks at Axi are strict. In addition to that, you should always make sure that you know what you are doing before you get into the forex market, for your good.

Axi Customer Service Experience

There are three ways to get connected to Axi. You can use:

  • Website live chat
  • Telephone numbers
  • Email

The live chat is the fastest way to get in touch with Axi representatives. The relevance of answers is all customers care about when dealing with customer service. You will be happy to know that they have the correct and full answers to your questions.

In addition to these methods, they also have a comprehensive FAQ section covering most of the common questions you may want answers to.

The best part is that the broker manages everything well that you won’t need support most of the time.

The only thing about the service that is a drawback is that they are only available 5 days a week

In Conclusion

Our Axi was created to find out how suitable this broker is to you. They are regulated by respected agencies like FCA, ASIC, and DFSA. With all of these requirements and compliance measures, safety is ensured.


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