AxiTrader Review 2023 (Axi)

Is Axitrader is safe? Read my complete review that includes spreads, platforms, leverage, minimum deposit and more!
7.4/10 (Expert Score)
Product is rated as #17 in category Forex Brokers

A broker known in the category of the trusted brokers along with one of the no deposit requirement brokers, Axi, formerly known as AxiTrader is an Australia-based broker which is a leading broker not only in Australia but also all over the world.

Founded in 2007 with one big idea, to be the broker everyone would want to trade with. Once the broker put themselves in the traders’ shoes and starts thinking like one, it’s clear that that is a good broker to have on your side while investing. Which lead Axi to have a community of traders in around 100+ countries from all around the globe.

It comes by nature that such a trusted broker from many traders would have the best regulations from the best financial regulators of the market. Along with being recognized in the market through awards and prizes. And so, Axi is making sure that when you’re trading, you’d have the supporting and appropriate regulations for your region. Hence, holding different licenses from different parts of the world was the right way to do so.

Axi is a trading name of Axi Financial Services (UK) Limited which is registered in England and Wales under number 6050593. Axi Financial Services (UK) Limited is authorized and regulated by the Financial Conduct Authority – Firm Reference Number 466201.

7.4Expert Score
Good

I reviewed Axi Trader based on the following criteria.

TRUST
7.5
COMMISSIONS AND FEES
7
CUSTOMER SERVICE
7.5
PLATFORM & TOOLS
7.5
PRODUCT PORTFOLIO
7.5
PROS
  • Strong regulation
  • MT4 supported
  • Advanced tools on MT4 NexGen
  • Various Instruments
CONS
  • No Choice of trading platforms

In this AxiTrader review 2023, you will have the recently updated answers to the following questions:

Is AxiTrader a scam or a good forex broker? Is Axi regulated? What are the account types of brokers? What are the trading conditions such as spreads, and leverage, and What is Axitrader minimum deposit?

Regulation

Regulation of AxiTrader

Axitrader regulation is one of the main forces the broker hold as they have obtained 2 of the best licenses in the market. Axi is monitored and regulated by the Australian Securities & Investments Commission (ASIC), AFSL number 318232. which is one of the toughest regulations in the market to obtain.

Axitrader, in general, needs to hold $1000000 in her funds to prove financial ability, in addition to having a segregated account for the clients away from the operational accounts for the company in order to protect the clients’ funds from financial risks like fraud or loss.

That means trading with Axi isn’t only safe, but also monitored by the best in the market. A big proof of Axi’s authenticity and reliability is just proved via this part of the Axi trader review.

ASIC-regulated Forex brokers must hold a minimum net capital of AUD 1,000,000 to protect investors from bankruptcy or unexpected events.

ASIC also stipulates that brokers should have a representative office in Australia, and cannot operate from an overseas location.

Moreover, clients of UK brokers are covered by the Financial Services Compensation Scheme (FSCS) coverage. In the event of company insolvency, FSCS is able to pay compensation up to a maximum of £50,000 per person per regulated entity.

Australian FX broker regulation, however, does not include any compensation scheme in case a licensed company becomes insolvent.

Axi UK is a trading name of AxiCorp Limited which is registered in England and Wales under registered number 06378544. AxiCorp is authorized and regulated by the Financial Conduct Authority (FCA), Reference Number 509746.


Account Types and Spreads

Account Types and Spreads of AxiTrader Review 2023

Axi is making sure to match all styles and levels of their traders and so providing different types of accounts to attend to clients’ needs.

Axitrader account types through this updated AxiTrader Review 2023 are 4 including:

  • Standard account
  • Pro account
  • Elite account
  • Islamic account

The Standard account

This account has an Axitrader minimum deposit of $0 which means you can start with any amount of funding you see fit for your start. Spread starts from 0.4 pips and you can trade with leverage up to 1:30. The base currencies here are AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.

The Pro account

It has an even less spread rate than the standard account with 0.0 pips, however, there is a commission added to this account of $7 round trip for USD trading, which isn’t applied in the standard account. Axitrader minimum deposit in this account is also $0 so you can deposit whatever you like. The maximum leverage on this account is 1:30. You can trade with 10 base currencies in the pro account.

The Elite account

This account type is only offered to professional accounts considering the Axitrader minimum deposit here is $25000. Spreads are absent in the elite account however a commission is applied of $3.5 round trip when trading in USD. The maximum leverage offered is 1:400 which is the highest seen within the broker accounts. You can trade with only 4 base currencies including the major ones like USD, EUR, GBP, and AUD.

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.

In order to open an Islamic account with Axi, you need to get in touch with their customer support and request an account opening. The broker will request some proof and they’d have the right to accept or deny your request.

Demo Account

Axitrader also offers the chance to open a demo account.

Generally, demo accounts are targeting newly forex-trade clients that still need to get practice on how to handle the live accounts and how exactly the market works. These accounts also work in case of the need to acquire new information or knowledge about the market.

You can trade forex and CFDs within all types of accounts offered by Axi which I will be breaking down for you further in this Axitrader review 2023 and if you want to check other minimum deposit brokers follow the link attached.

Trading Platforms

Axi Trading Platforms

MetaTrader 4 is the platform offered by Axi to its clients. The platform is known worldwide for its great performance and fast applications. No wonder it’s the most preferred platform in the Forex market.

The platform allows you the chance to access your trades anytime, anywhere as it can be downloaded on almost every device, that means Windows, Mac, Android, IOS, and WebTrader.

WebTrader gives you access to use your MT4 platform on any web browser you’re using.

Steps to open an account on MT4 with AxiTrader:

  1. Open your live account on the Axi app
  2. You will receive a welcome email with your MT4 login details
  3. Follow the link to the steps of installation and log in using the information that was sent to you to access your Axi MT4 trading account.

It’s a shame that a good trader like Axi is offering only one trading platform despite it being the best in the market. There is, for example, MT5 which is an upgrade from MT4 and other platforms. In my opinion, it might be the broker wanted to focus their efforts on 1 platform and put all the tools and details in only one place to make it easier for the customers.

Axi Trading Instruments

Axi Trading Instruments

Within the trading instruments that Axi is offering, This part of the Axitrader review 2023 will provide you with the latest updates on the trading tools that Axi is offering to their clients. These reading instruments include:

Forex: 70+ forex pairs are offered for trade when you open a real account with Axi, as there will be brokerage fees applied and a zero commission policy applied as well. The fast execution of orders in addition to the competitive spreads offered make it a great experience for traders who like to trade forex in all different strategies and styles which Axi encourages diversity. Forex majors, minors and exotics are presented for trade with maximum leverage offered of 1:500.

Shares CFD: 50+ stocks are allowed from the most popular stocks in the UK, USA and The European markets where you can trade with zero commission and the ability to earn direct dividend payouts from your share CFD trades. A leverage of 1:20 is offered on shares trading and the flexibility to trade long or short positions and win on both the rise and fall of prices in the market. Alibaba, Amazon, Apple, Lloyds, HSBC, Adidas, Siemens and more are examples of the shares you can trade with Axi trader.

Indices: 30+ indices are presented for trading where a leverage of 1:500 is allowed on indices with zero commission and 0.2 pips for the spreads that are applied. AUS200, EU50, GER40, HK50, UK100, US30 and more are examples of the available indices to trade with Axi.

Commodities: Low margin of as low as 1% is offered on commodities trading, in addition, leverage of 1:100 is allowed where a zero commission is applied and fast execution of orders takes place. Commodities include Oil like USOIL, UKOIL, BRENT, and WTI are available. Precious metals including Gold silver and copper represent the safe haven for traders as they symbolise the absolute diversity channel to be added to the trading portfolios. Natural and agricultural commodities are available too where you can trade with cocoa, coffee, natural gas, soybean and more.

Cryptocurrencies: the possibility to trade cryptocurrencies 24/7 makes trading cryptos one of the most favourable tools for forex trades to add to the list of their orders as it also provides fast execution of orders and leveraged trades with 1:200 as the maximum offered leverage on cryptocurrencies trading with Axi. 30 of the most popular and known cryptocurrencies are allowed which include Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash and more. No digital wallet is mandated and zero commission policy is followed on cryptocurrencies.

With low latency execution and deep liquidity, AxiTrader makes it easy to join the world’s biggest trading market in all possible ways.

Payment Options

Payment Options

The different ways of funding presented by Axi are surely one of the reasons the broker has such great feedback from their great customer base. In this part of the Axi trader review 2023, I’ll walk you through my personal experience first-hand in addition to the newly updated means of depositing and withdrawals that Axitrader is presenting to their clients.

You can fund or withdraw from your live account 24/7 anywhere anytime. The various funding ways include everything from a bank swift transfer to e-wallet options.

AxiTrader enables clients to open accounts and deposit funds in most major currencies: AUD, EUR, GBP, NZD, SGD, USD, CHF, JPY, HKD, and CAD.

PAYMENT METHODACCEPTED CURRENCIESMINIMUM DEPOSIT AMOUNTDEPOSIT PROCESSING TIMEMINIMUM WITHDRAWAL AMOUNTWITHDRAWAL PROCESSING TIME
Credit/Debit Card AED, CAD, EUR, GBP, JPY,
NZD, PLN, SGD, USD
$5InstantN/AN/A
Bank TransfersAUD, CAD, CHF, EUR, GBP,
HKD, JPY, NZD, SGD, USD
N/A1-3 days$501-3 days
POLiAUD$5InstantN/AN/A
FasaPayIDR, USD$5Instant$51-3 days
NetellerCAD, EUR, GBP,
PLN, USD
$5Instant$51-3 days
SkrillAED, CAD, EUR, GBP,
INR, USD
€5Instant$51-3 days
AstroPayUSD$5Instant$51-3 days
BoletoBRL$5012hrsN/AN/A
CryptoBTC, ETH, LTC, XRP, XLM, USDT$30 15mins$30 1-3 days

Clients of AxiTrader can make deposits to and withdrawals from their accounts via credit/debit cards (Visa, MasterCard), bank wire transfer, Skrill, Neteller, Fasapay and more. There are also various local channels depending on the residing country where local internet banking methods are offered in the local currencies too. Examples of these local online banking methods include

  • Brazil Internat Banking (TED)
  • Chinese Internet Banking
  • Thailand Internet Banking
  • Vietnamese Internet Banking
  • Indonesian Internet Banking
  • Polish Internet Banking
  • Hong Kong Internet Banking
  • Malaysian Internet Banking
  • Philippines Internet Banking
  • South African Internet Banking
  • Nigerian Internet Banking
  • Kenyan Internet Banking & MPESA
  • Cambodian Internet Banking
  • Laos QR Payments
  • Myanmar QR Payments

Conclusion

Conclusion

In this Axitrader review 2023, we went through how the broker changed their name in 2020 to their new name Axi and how they were established originally in 2007 and went from a 2-person startup to one of the best and trusted forex and CFDs broker in the market nowadays.

The broker is trusted by the FCA in the UK and wales region.

There are 4 types of accounts offered at Axi including the Islamic account that can be requested by contacting customer support. The standard, pro and elite accounts are the options offered with the MT4 platform with a lot of facilities through it.

The elite account is only offered to professional trades as it requires a minimum deposit of $25000.

Generally, the minimum deposit at Axitarder is $0, so it gives you the freedom to choose the desired amount to start trading with. There are various trading instruments to trade in like Forex, Indices, Shares, Commodities, Gold, Silver, and Oil.

Also, it was shown throughout this Axi trader review, that the funding methods are quite various where you get to choose the most suitable channel for you.

If you were looking for more options concerning trading platforms, you can check my top forex brokers list to choose the best option for you. If you have any questions, feel free to leave me a comment and I’ll get back to you.

Valentin Cote

Valentin Cote

I am Valentin Cote, the author and owner of this personal blog. I compare and review forex brokers in my website. I am in the trading industry since 2009 and still learning. I also write useful articles for newbies about forex and investment. I love playing online games and Forex :)

Who Am I?

Hello to everyone. Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning. I have traded with the most popular forex brokers, including the most unknown ones in any regulation and many different account types. So I think I have enough knowledge to compare brokers. You can learn about forex brokers by reviewing my blog.

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