A final rating is produced for each forex broker based on a total of 187 data points. In this case, the client’s funds are safely kept in segregated accounts with top-tier banks and secured by compensation schemes. As well as all online transactions, executions, or traders’ manipulations are fully encrypted and follow operational guidelines. While Axi has three well-regulated subsidiaries, most international traders will deal with the unregulated unit operating from St. Vincent and the Grenadines. Since Axi has an exceptional reputation, I do not view this as an issue.
Also, we found that Axi has a bit limited diversity of asset classes, as it does not offer CFDs on bonds, futures, options, or interest rates. The broker has since grown into a multinational retail broker with offices in the United Kingdom, Australia, South Africa, and Saint Vincent and the Grenadines. It has bagged several industry awards for providing satisfactory trading services to over 60,000 loyal clients in 100 countries.
Our Axi review above explains the wide range of financial instruments for trade like oil, silver, gold, CFD, etc. Traders can choose from 50 different types of currency pairs like AUD/USD, JPY/EUR, EUR/USD, AUD/CAD, etc. The market is open 24-hours and one can trade at any point of time suited to their needs. It offers low-cost trading with best in class risk tolerance limits and different types of assets to choose from. When spreads and fees are compared to other Australian forex brokers, the overall result was favourable. This included comparisons to popular currency brokers including Pepperstone and IC Markets.
Scalping Review
When the Sydney office isn’t open, there is support from London and Chisinau. All forex traders that open an account are provided with a dedicated account manager. Account managers assist with trades, forex training, and other market information. Below shows some of the key players at Axi who have one of the most experienced teams worldwide. Customers can also set up a demo account to test Axi’s trading environment and their offering before entering the markets with real money. Trading strategies and trading tools can also be tested freely on a demo account.
Axi provides traders with the out-of-the-box MT4 trading platform and upgrades it free of charge with the Autochartist plugin. I like that Axi adds Autochartist, which can assist beginner traders. MT4 is the market leader in algorithmic trading and remains the most versatile trading platform.
An index is a financial product that tracks the performance of an entire market, a market sector, or a specific group of assets. Trading indices is generally considered safer than trading individual stocks since no single company can sharply influence the overall price of the index. Founded in 2007, the formerly named AxiTrader launched the Axi brand in 2020.
It is an expensive account, and I recommend traders opt for the Pro alternative. The commission of $7.00 per round lot remains competitive, and spreads start as low as 0.0 pips, an ideal combination for algorithmic traders and scalpers. Axi advertises a minimum mark-up of 0.4 pips in its commission-free trading account. During the London-New York overlap session, I received a 1.1 pip spread for the EUR/USD or $11 per 1.0 standard lot.
- I think beginner traders can start there and then research more online.
- Compared to similar competitors, Axi has a great base currencies offering.
- The company offers generous leverage, allowing you to trade for more than you have in your account.
- VPS hosting ensures fast execution and no downtime by making sure your platform keeps running 24 hours a day.
- Client money is diversified in segregated trust accounts across multiple banks to reduce the credit risk and counterparty exposure.
Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. With no minimum deposit outside of its Australian brand, AxiTrader can cater to a wide audience, yet the lack of an active trader offering puts it at a disadvantage when catering to high volume traders.
FREQUENTLY ASKED QUESTIONS ABOUT AXITRADER
Axi outsources its live chat customer support to specialised agencies. The first agency we dealt with told us that our Neteller withdrawal was cancelled due to a technical issue. AxiTrader offers in-depth articles on many trading topics to axi review help traders improve their trading results. Axi provides research tools via the MetaTrader 4 platform’s in-built features. However, the platform does not provide trade ideas or fundamental reports that could affect certain instruments.
None of Axi’s average spreads were above industry averages, which was quite impressive. We also discovered that the broker charges extremely low spreads on Bitcoin trades as compared to its peers. We placed 3 trades for each instrument to get a complete picture of the average spread. We tested the Standard Account with AxiCorp Limited which charges a spread on all tradable instruments.
Axi Customer Service
Hence, holding different licenses from different parts of the world was the right way to do so. The firm’s in-house and third-party research tools, including AutoChartist and add-ons provided in the MT4 NextGen package, help AxiTrader differentiate itself among other MT4-only forex brokers. Axi hosts weekly free webinars on a variety of topics, including market analysis, trade management, trading psychology, and much more.
Author of this review
This setup helps AxiTrader to offer competitive pricing on PRO account, with 0 spread and, standard account with tolerable spread fees. With over 80 currency pairs, you can trade popular pairs such as AUD/CAD, EUR/CHF, USD/ZAR, and many more. Additionally, AxiTrader also offers trading in cryptocurrency CFDs, with BTC/USD as an option. With full ASIC and FCA compliance, award-winning forex trading excellence, and multinational operations, you can trust that your funds and personal information are in good hands. With 24/7 trading across all devices and platforms, and servers in New York, you can take advantage of rapid trade execution. Self-confessed Forex Geek spending my days researching and testing everything forex related.
It will show you patterns found on an instrument of your choice with a pattern quality rating. You can set alerts for when patterns are found and it can also forecast possible stop loss or take profit levels. The alarm manager can send you customised alerts which is useful if you are monitoring multiple charts at once and do not want to be at your screen all of the time.
This means if you are a scalper then the broker is an excellent choice thanks to the supportive environment, low spreads, and fast ECN execution. The research section with the broker only provides access to an economic calendar and no other insightful research tools like other major brokers. Our research found that AxiTrader offers a full suite of MetaTrader 4, presented in Web, Android, iPhone, and iPad versions. Good to note, that not all MT4 platforms are created equal, as the broker may invest in a co-located server and fiber optics, in order to process more accurate trading or not.
You can reach out to them 24/7 through live chat, telephone, and email. There’s also a wealth of information available on their website, including a FAQs section and social media feeds. The customer service team is available in 12 countries and speaks 6 languages, and you can also enjoy dedicated account managers for personalized support. This is the most widely used version of MT4, with millions of traders across the world using it to trade the financial markets. Axi’s entire range of trading instruments is available via the high-performance MT4 interface. MT4 includes a user-friendly interface and a variety of perks and features, such as technical indicators for chart analysis, automated trading, one-click trading, and versatile charts and tools.
