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Axi Review
Updated September 08, 2021
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading CFDs with Axi Corp Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
KEY TAKEAWAYS
- Competitive trading costs
- Accepts Japanese clients
- Regulated in the UK, Australia and Dubai
- Access to the PsyQuation analytics platform
Regulations and Money Protection
5.0
| Entity Name | Licence & Regulation | Client Money Protection | Deposit Compensation Scheme | Negative Balance Protection |
|---|---|---|---|---|
| AxiTrader Limited (SVG) | N/A | ✔️ segregated client money |
❌ | ❌ |
| AxiCorp Financial Services Pty Ltd (AU) | Australia ASIC Licence | ❌ | ✔️ | |
| AxiCorp Limited (UK) | UK FCA Licence | ✔️ up to £85,000 |
✔️ | |
| AxiCorp Financial Services Pty Ltd (DIFC branch) | Dubai DFSA Licence | ❌ | ❌ |
Entity/Regulation
- International customers: AxiTrader Limited will be the counterparty for International customers. This entity, located at Suite 305, Griffith Corporate Centre, PO Box 1510, Beachmont Kingstown, Saint Vincent and the Grenadines, is registered with company number 25417 BC 2019. The company is trading as Axi and is regulated by the Saint Vincent and the Grenadines Financial Services Authority (FSA).
- Australian customers: AxiCorp Financial Services Pty Ltd (ACN 127 606 348 and NZBN 9429042567608), located at Level 10, 90 Arthur St, North Sydney NSW 2060, Australia, is licensed by the Australian Securities & Investments Commission (ASIC) with license number ASFL 318232. AxiCorp Financial Services Pty Ltd is registered to carry out financial services business in Australia and New Zealand, limited to the financial services covered by its AFSL license.
- UK customers: AxiCorp Limited is a company registered in England and Wales under number 06378544. Registered office: 36 - 38 Leadenhall Street, London EC3A 1AT, United Kingdom. AxiCorp Limited is authorised and regulated by the Financial Conduct Authority (FCA) with registration number 509746.
- UAE customers: AxiCorp Financial Services Pty Ltd (DIFC branch) is registered at Office 105, Level 1, Tower 2, Al Fattan Currency House, DIFC, PO Box 507299, Dubai, UAE and is regulated by the DFSA under license number F003742. AxiCorp Financial Services Pty Ltd (DIFC branch) is a wholly owned subsidiary of AxiCorp Financial Services Pty Ltd. The product issuer is AxiCorp Financial Services Pty Ltd registered and licensed by the Australia's ASIC.
Client Money Protection
- Axi complies with the highest safety standards for client's funds. For this reason, Axi client's funds are kept in top-tier international banks, such as the National Australian Bank (NAB) and Lloyds Bank, fully segregated from the company's funds.
- Axi also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. Axi holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.
Deposit Compensation Scheme
Only the UK company (AxiCorp Limited) offers a deposit compensation scheme. AxiCorp Limited is a member of the Financial Services Compensation Scheme (FSCS), an independent compensation fund of last resort for customers of authorised UK financial services firms. If AxiCorp Limited is unable to pay claims against it in the event the firm has stopped trading or has declared to be in default, clients might be entitled to compensation, up to the value of £85,000 per claim.
Negative Balance Protection
- Both AxiCorp Limited (UK) and AxiCorp Financial Services Pty Ltd (AU) entities offer Negative Balance Protection. Customers classified as Retail Clients are afforded NBP by default and according to ESMA and ASIC's new regulations, meaning they cannot lose more than what they have deposited with Axi. AxiCorp Limited customers classified as Professional Clients are not afforded Negative Balance Protection.
- All the other Group entities; AxiTrader Limited (SVG) and AxiCorp Financial Services Pty Ltd (DIFC branch) do not offer a Negative Balance Protection mechanism, meaning that traders loses' can exceed the account balance or initial deposit.
Client Money Insurance Policy
Axi has signed a Client Money Insurance (CMI) policy with Lloyds of London. The Client Money Insurance policy automatically covers Axi retail clients and provides protection for retail account balances above US$20,000. Also, in the event of Axi's business being declared insolvent and if there is a shortfall in segregated customer assets, the insurance policy would cover any outstanding amounts, up to US$1,000,000 per client.
Accounts, Instruments and Platforms
| Accounts | Instruments | Platforms | Social trading | Maximum Leverage |
|---|---|---|---|---|
| ✔️Standard ✔️Pro ❌PAMM ✔️Islamic Accounts |
✔️Forex ✔️Indices ❌Stocks ❌Futures ❌ETFs ❌Bonds ✔️Commodities ✔️Cryptos |
✔️MT 4 ❌MT 5 ❌cTrader ✔️AxiOne |
✔️Myfxbook ❌ZuluTrade |
30:1 UK 50:1 UAE 30:1 Australia 500:1 Rest of World |
Account types and currencies
- Axi has just two trading account types; Standard and Pro. Axi also offers swap-free accounts for traders of Islamic belief.
- Axi allows for social trading, including copy trading, via Myfxbook.
- Axi does not have any PAMM accounts but offers the AxiSelect program for money managers. The AxiSelect program is a structured pathway to becoming a professional trader. Through performance monitoring, the company identifies traders with the potential to succeed and provide funding and professional development to help them build a trading career.
- Axi maximum leverage is 30:1 for accounts opened in the UK and Australia, 50:1 in the UAE, and up to 500:1 for accounts opened in other countries around the world.
- Currently, Axi trading accounts are only available in AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.
Financial instruments
Trading with Axi can be done via the Metatrader 4 and AxiOne, Axi's own proprietary platform. Both trading platforms are available for desktop and mobile trading. The broker offers a limited selection of about 150 assets to trade, including forex, indices, stocks, commodities and cryptocurrencies.
- FX market - 60+ currency pairs (including Minor and Exotic crosses).
- Indices - 11 world indices including DAX, FTSE100 and Nikkei 225.
- Stocks - 50 stocks CFDs available for trading, with a maximum leverage ratio of 20:1 and with 0% trading commission to pay, from worldwide top companies and banks, such as Apple, Tesla, Tesco, Rio Tinto, Lloyds, Adidas, and BNP Paribas.
- Commodities - 8 commodities CFDs available for trading; 3 metals (Gold, Silver and Copper), 3 energies (UK Oil, US Oil and Nat Gas) and 2 soft (Coffee and Cocoa).
- Cryptocurrencies - 5 CFDs crosses for trading, including BTC/USD, ETH/USD and XRP/USD.
Pricing
5.0
| Pricing/ Account |
Standard | Pro |
|---|---|---|
| Spread EUR/USD | from 1.0 pip | from 0.0 pip |
| Commissions (1 lot) | ❌ | from 7 USD |
| Minimum Deposit | from 0 USD | from 0 USD |
Spreads
Axi's trading spreads are, in general terms, low and in line with the spread and fees structure of other brokers. With a Standard trading account the typical spread for the EUR/USD ranges from a minimum of 1.0 pip to an average of 1.3 pip, without any trading commissions. We consider this spread to be average when compared with other top brokers.
The Axi Pro account is more competitive, compared with the Standard, with lower spreads. For the EUR/USD pair the spread starts at 0.0 pip, with a typical spread of 0.4 pip. To get the benefit of the lower spread, Axi charges a commission. The standard lot commission for 1 lot (100,000 units) is 7.00 USD (3.50 USD per side, per lot), or the equivalent on your account currency. This commission is also average when compared with all the other top FX brokers.
The Axi Pro account is more competitive, compared with the Standard, with lower spreads. For the EUR/USD pair the spread starts at 0.0 pip, with a typical spread of 0.4 pip. To get the benefit of the lower spread, Axi charges a commission. The standard lot commission for 1 lot (100,000 units) is 7.00 USD (3.50 USD per side, per lot), or the equivalent on your account currency. This commission is also average when compared with all the other top FX brokers.
Rollover Rates
Axi swap rates, as of 06-08-2020, for the EUR/USD stand at -3.80 for holding overnight a 1 lot long contract and at +0.85 for holding overnight a 1 lot short contract. Axi swap rates are among the best compared with other brokers.
Deposits/Withdrawals and Other Fees
- Deposit fees - Trading accounts can be opened in 10 different currencies and maintained via 9 different funding methods, including cards, bank wires and e-payments such as Neteller, Skrill and FasaPay. Deposited funds are available almost instantly. Axi does not charge any fees for deposits.
- Withdrawals fees - Same policy applies for withdrawals (processing times vary from 1-3 days). Axi does not charge any additional fees for withdrawals. However, traders should be aware that they might incur fees on payments to and from some international banking institutions. The brokers accepts no responsibility for any such bank fees. For more information, please visit the Axi's deposit and withdrawals dedicated page.
- Inactivity fee - Axi does not charge an inactivity fee or any account maintenance fees.
Popularity
4.0
| Forex Education |
Funding Methods |
Deposit/Withdrawals Fees | Non expiring demo account | Customer Support |
|---|---|---|---|---|
| Tutorials eBooks Videos Trading courses Webinars Seminars |
Cards Bank Wire E-payments |
❌ | ❌ - 30 days | Multi language 24/5 Support Live Chat |
Founded in 2007, Axi is a trading name of AxiTrader Limited, incorporated in St Vincent and the Grenadines, still with tens of thousands of accounts opened in more than 12 years of business (according to their corporate website) and operating in over 100 countries, Axi seems to have it's fair market share and has managed to capture the attention of traders.
Axi is also a popular Forex broker with traders for their platforms. AxiOne is Axi's proprietary platform, offering direct liquidity from multiple venues, access to 7 exchanges, multi-asset trading (FX, CFDs, spread-betting, metals and NDFs) with multi-connectivity options, regulated by the FCA and ASIC and with the unique feature of being available for trade at 5am Sydney time (2 hours earlier than most other brokers).
Also available to Axi clients is a third platform, PsyQuation. PsyQuation is an AI powered analytics platform for traders, free for all Axi clients. This is not a trading platform, but a platform built with artificial intelligence and machine learning. PsyQuation works like a traders own private trading coach. It analyses a traders unique trading history and style guiding traders towards better trade decisions and improved profitability. To access PsyQuation traders just need a live account with Axi.
- Trading accounts - The Axi Pro account is a popular choice with traders looking to save on trading costs, with a lower spread and a commission of $7.00 per lot traded. Extra points for Axi's policy of no fees on deposits or withdrawals.
- Forex education - Axi gets extra popularity points for their great range of Forex education materials, available through the Education tab. Axi customers can find video tutorials, seminars and webinars, download free FX eBooks and access the latest market news and blog. But the cherry on top of the cake are the online trading courses. Axi clients can enroll on online trading courses provided by the London Stock Exchange and accredited by the Knightsbridge Trading Academy (subject to an account deposit value of $USD 1,900 or equivalent).
| Funding Methods | Bank Wire, Broker to Broker, Cards, China Union Pay, Neteller, PayPal, Skrill (Moneybookers), FasaPay |
|---|---|
| Support Languages | Arabic, Bahasa (Indonesian), Chinese, English, German, Hungarian, Italian, Polish, Russian, Spanish, Thai, Vietnamese |
- Minimum deposit - Opening a trading account with Axi is very easy, all can be done via the web. The minimum deposit requirement with Axi is 0. Of course, with a zero balance, Axi's customers will not be able to open any trades. But will enable Axi client's to have a real feel for the broker's trading platforms, how the spreads widen on high impact news and for the overall trading conditions.
- Customer support - Axi's multi language customer support service is available 24 hours, 5 days a week, in 12 languages. Axi's support is available via toll-free phone numbers (subject to jurisdiction), by requesting a call-back, email and live chat directly from their website.
Broker Profile
With headquarters in Australia, Axi (formerly AxiTrader) was created by traders and based on a simple idea: be the broker that everyone would want to trade with. Axi offers services in leveraged trading, giving it's client's the potential to generate financial returns on both rising and falling prices across FX, indices, commodities, shares and cryptocurrencies.
Thanks to a service that's trusted by more than 30,000 traders in over 100 countries, Axi total monthly client trading volume exceeds US$100 billion which puts Axi amongst the top ten global FX providers. Axi customers can take advantage of a diverse range of products, since the company offers trading not only in Forex, but also in precious metals, futures CFDs, indices CFDs and crypto CFDs.
Axi offers trading via Metatrader 4 and their proprietary platform AxiOne. Axi also offers free access to PsyQuation. PsyQuation is one of the most sophisticated software platforms available to retail traders. Built with Artificial Intelligence and Machine Learning it continuously analyses the traders trading style and performance, comparing it with the latest data to provide intraday charting and near real time performance impact analysis.
Overall, on our Axi review, the broker scores a great 4.6 out of 5 as it is a good choice for traders looking for a reputable broker with good regulations in place and safety of funds. On the minus side, the overall cost of trading with an Axi Standard Account could be improved to match the trading costs of other top brokers with more competitive spreads. On the plus side, the availability of the AxiOne trading platform (and the free access to the PsyQuation platform) is something unique that could be a decisive factor to satisfy more tech-savvy potential customers.
Data supplied in partnership with CashBackForex - Forex Rebates places Axi on the top 20 brokers for popularity with traders opening an account in 2020.
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Thanks to a service that's trusted by more than 30,000 traders in over 100 countries, Axi total monthly client trading volume exceeds US$100 billion which puts Axi amongst the top ten global FX providers. Axi customers can take advantage of a diverse range of products, since the company offers trading not only in Forex, but also in precious metals, futures CFDs, indices CFDs and crypto CFDs.
Axi offers trading via Metatrader 4 and their proprietary platform AxiOne. Axi also offers free access to PsyQuation. PsyQuation is one of the most sophisticated software platforms available to retail traders. Built with Artificial Intelligence and Machine Learning it continuously analyses the traders trading style and performance, comparing it with the latest data to provide intraday charting and near real time performance impact analysis.
Overall, on our Axi review, the broker scores a great 4.6 out of 5 as it is a good choice for traders looking for a reputable broker with good regulations in place and safety of funds. On the minus side, the overall cost of trading with an Axi Standard Account could be improved to match the trading costs of other top brokers with more competitive spreads. On the plus side, the availability of the AxiOne trading platform (and the free access to the PsyQuation platform) is something unique that could be a decisive factor to satisfy more tech-savvy potential customers.
Data supplied in partnership with CashBackForex - Forex Rebates places Axi on the top 20 brokers for popularity with traders opening an account in 2020.
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