Axiory Review 2020 - Verified Customer Reviews

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2.8
User Rating
3.0
(1)
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Axiory Review

Updated November 05, 2020
2.8
Score breakdown
Pricing: 3
Regulation: 2
Popularity: 3
User Rating: 3 (1)

Axiory overall score rank: 15 out of 35

Axiory Forex broker review
KEY TAKEAWAYS
  • Accepts cryptocurrencies deposits
  • Fast and free withdrawals
  • Excellent educational materials
  • Regulated in Belize

Regulations and Money Protection

2.0  


Entity Name Axiory Global Limited (BZ)
Licence & Regulation Belize IFSC Licence
Client Money Protection ✔️ - segregated client money
Deposit Compensation Scheme
Negative Balance Protection ✔️

Entity/Regulation

International customers: Axiory Global Limited (trading as Axiory) will be the counterparty for International customers. This entity, with registered address in No.1 Corner of Hutson Street and Marine Parade, Belize City, Belize, is regulated by the International Financial Services Commission of Belize (ISFC), with licence number 000122/15.

Client Money Protection

  • Axiory complies with the highest safety standards for client's funds. For this reason, Axiory client's funds are kept in top-tier international banks, fully segregated from the company's funds.

  • Axiory also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. Axiory holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.

Deposit Compensation Scheme

Axiory does not offer a client's deposit compensation scheme, as Axiory Global Limited is not regulated by any tier-1 Financial Authority overseeing an Investor Compensation Fund. Therefore, if Axiory Global Limited is unable to meet its financial obligations, or in case of bankruptcy, clients will not be entitled to any financial compensation

Negative Balance Protection

For accounts opened with Axiory Global Limited there is a default Negative Balance Protection mechanism in place, for the sake of no negative balance. With NBP, Axiory Global Limited customers are protected from any losses bigger than their original investments, in cases of extreme market volatility.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
✔️Nano
✔️Standard
✔️Max
❌PAMM
✔️Islamic Accounts
✔️Forex
✔️Indices
❌Stocks
❌Futures
❌ETFs
❌Bonds
✔️Commodities
❌Cryptos
✔️MT 4
❌MT 5
✔️cTrader
❌Myfxbook
❌ZuluTrade
up to 777:1 Globally

Account types and currencies

  • Axiory offers three types of trading accounts; Nano (ECN model), Standard and Max (higher leverage). Axiory also offers swap-free accounts for traders of Islamic belief.

  • Axiory currently doesn't allow for social trading, including copy trading.

  • Axiory does not offer PAMM accounts alternatives for money managers.

  • Axiory maximum leverage is 400:1 for the Nano and Standard accounts and up to 777:1 for the Max account, globally.

  • Currently, Axiory trading accounts are available only in EUR and USD.

Financial instruments

Trading with Axiory can be done via the MetaTrader 4 and cTrader, both platforms available on web, desktop and mobile (iOS and Android) versions. Axiory offers a limited selection of just 80 assets to trade, including Forex, indices and commodities.

  • FX market - 61 currency pairs (including Minor and Exotic crosses).

  • Indices - 10 world indices, including the FTSE 100, STOXX 50 and NIKKEI 225.

  • Commodities - 9 commodities CFDs available for trading; 4 metals (including Gold and Silver) and 5 energies including UK Oil, US Oil and Nat Gas.

Pricing

3.0  


Pricing/
Account
Nano Standard Max
Spread EUR/USD from 0.2 pip from 1.2 pip from 1.8 pip
Commissions (1 lot) from 6 USD
Minimum Deposit from 100 USD from 100 USD from 50 USD

Spreads

Axiory Forex trading spreads are not the most competitive in the market for the entry-level account, the Standard, and even the Max account. With the Standard account, the average spread for the EUR/USD is 1.3 pip (during major economic release and market opening times spreads can increase) commission free. For the Max account the average spread for the EUR/USD is 1.9 pip. On the positive side, with a Nano account, the EUR/USD average spread is 0.3 pip.

To access the better trading conditions of the Nano account (lower spreads), Axiory will charge a broker commission. For the EUR/USD, the standard lot commission for 1 lot (100,000 units) is 6 USD commission (3 USD per side/per lot). We consider this commission to be quite in line with other offerings and when compared with other brokers.

Rollover Rates

Axiory swap rates, as of 27-10-2020 for the EUR/USD stand at -4.59 for holding overnight a 1 lot long contract and at +0.05 for holding overnight a 1 lot short contract. We consider these swap rates to be average when compared with the rollover rates offered by other top Forex brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in only 2 different currencies and maintained via 8 different funding methods, including cards, bank wires and e-payments such as Skrill, SticPay and Neteller. Axiory also accepts deposits in cryptocurrencies. Deposited funds are available almost instantly. Axiory does not charge any fees for deposits, but for transactions of less than $200/€ 200 per transaction, a fee of $10/€10 will be charged with the exception of International Wire Transfer, where Axiory will charge a fee of $15/€15.

  • Withdrawals fees - Same policy applies for withdrawals (processing times vary from immediate to 10 business days). Axiory does not charge clients any fees for withdrawals, but for withdrawals of less than $200/€200 per transaction, a fee of $10/€10 will be charged per withdrawal request via cards and e-payments and a fee of $15/€15 for withdrawals via International Wire Transfer. For more information, please visit the Axiory deposit and withdrawals dedicated page.

  • Inactivity fee - Axiory does not charge an inactivity fee or any account maintenance fees.

Popularity

3.0  


Forex Education Deposit Options Deposit/Withdrawals Fees Non expiring demo account Customer Support
Forex Courses
Forex Articles
Fundamental & Technical Analysis
Market Insights
Axiory Intelligence
Trading Tools
Cards
Bank Wire
E-payments
Cryptocurrencies
✔️ Multi language
24/5 Support
Live Chat

Although the implementation of Axiory's quick and free withdrawals policy is most welcomed, the popularity of this broker is rather neutral with traders, scoring an average 3.0. Despite Axiory efforts, offering no commissions on deposits and withdrawals, Negative Balance Protection and the implementation of their quick smart onboarding system, allowing new traders to register at any time, 24 hours a day, 365 days per year, there are still quite a few points to improve.

Perhaps could also be related to the overall trading cost with Axiory and it's pricing model. Still, in our view, the decisive factor why traders, possibly, don't elect Axiory to trade with, could be down to the poor client's fund protection offered by a tier-4 Financial Authority, the Belize ISFC.

  • Trading accounts - Regarding trading accounts, we consider the Axiory Nano account to be the best-value. This account is also a popular choice because of the reduced trading costs and considered the best option based on the EUR/USD lower spread and with a competitive commission of $6.00 per lot traded.

  • Forex education - Axiory gets extra popularity points for their great range of Forex education materials, available through the Trading Resources tab. Axiory clients can enroll and brush up their market knowledge with Axiory's Forex courses, learn about trading with several articles, read and make informed decisions with Axiory's fundamental & technical analysis reports and use their trading tools. The best is Axiory's dedicated website to all-things market, the Axiory Intelligence a fully packed website with live trading sessions (coming soon), several quality FX (and other markets) articles, trading strategies and so much more.

Funding Methods Bank Wire, BPAY, Credit Card, Skrill (Moneybookers), SticPay, Debit Card, VLoad
Support Languages Arabic, English, Japanese, Portuguese, Spanish

  • Minimum deposit - Opening a trading account with Axiory it's easy and can be done via the website, taking around 10 minutes to complete the forms. Axiory minimum deposit requirement is 50 USD/50 EUR for the Max account and 100 USD/100 EUR for the Nano and Standard accounts.

  • Customer support - Axiory multi language customer support service is available 24 hours, 5 days a week, in 5 languages. Axiory support is available via phone call, email, contact form and also live chat, available directly from their website.

Broker Profile

Established in 2011 and operating on the financial markets since 2012, Axiory Global Ltd is based in Belize and the Group has representative offices in the Middle East and various locations around the world, including the UK, Dubai and Singapore. Axiory is licensed and regulated by the International Financial Services Commission (IFSC) in Belize.

Axiory is a licensed industry leader that has been serving traders across the globe since 2012. Axiory created a savvy, friendly, and intuitive space for accessing the forex and CFDs market, where client's needs always come first.

Trading with Axiory can be done via the tried and tested MetaTrader 4 and cTrader platforms. The broker offers several financial instruments available for trading in 3 different asset classes; over 60 FX pairs, gold, silver, and CFDs for personal investment and trading options. Axiory traders are privileged to excellent trading conditions, unique risk management tools, tier-1 liquidity, the constant support of an international, highly professional, and extremely friendly team.

On a final note, due to it's licensing and regulations restrictions, Axiory does not provide services to citizens of the United States of America, Canada, EU countries, Islamic Republic of Iran, Indonesia, North Korea, Belize.

Overall, on our Axiory review, the broker scores a just below average 2.8 out of 5 as the company still has a couple of very important points to improve. Axiory's limited offering of about 80 trading assets and it's pricing model should be reviewed, and updated, to match the other competitors. Also, to offer more credibility with traders looking for the so important safety of funds measures, Axiory should increase it's trust score by being regulated with a tier-1 Financial Authority. Still, despite these less positive factors, Axiory seems to be a popular broker with Asian traders and traders looking for suitable Islamic accounts.


Data supplied in partnership with CashBackForex - Forex Rebates places Axiory on the top 25 brokers for popularity with traders opening an account in 2020.


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Axiory Products

Forex
Indices
Metals
Oil/Energies