Broker reviews will help you analyze the platform at length and make decisions as per your trading needs.
This Axi Review is a detailed analysis of the broker platform. It will help you analyze whether AXI can fulfil your trading goals.
The most important aspect of trading is choosing a broker. A reliable and authentic broker makes your job much easier.
The various tools provided by them can be used as an asset to enhance your trading competence. How do you know which broker is reliable? By reading reviews such as this one.
In this review, I have written a detailed review of AXI, a forex trading broker. Check out a quick overview of the broker below:
|REGULATORS||ASCI, DFSA, and FCA|
|MINIMUM DEPOSIT||0 starting deposit|
|TRADING INSTRUMENTS||Forex, IPOs, Shares, Indices, Commodities, Cryptocurrencies.|
|ACCOUNT CURRENCY||EUR, USD, AUD, CAD, CHF, GBP,
HKD, SGD, ZAR etc.
|DEPOSIT OPTIONS||Local bank transactions, credit/debit cards, skrill, Neteller, AstroPay, FasaPay|
|CONTESTS AND BONUSES||Yes|
What is AXI Broker?
AXI is an award-winning forex and CFD trading platform that provides an intense trading edge with advanced tools. This allows traders to gain the best experience with zero trading deposits.
Founded in 2007, under the parent company AXICorp and has 60,000+ loyal customers as of today. AXI has high-quality services, provides customization, and requires no deposit.
It is regulated by ASCI (Australian Securities and Investments Commission) which is an Australian Financial regulator. ASCI is a trusted top-tier regulator therefore brokers under ASCI are likely to be reliable.
Apart from that, AXI does not charge any deposit for trading which is a great perk as opposed to most of the other platforms.
Why Should or Shouldn’t You Choose AXI
AXI is a reasonably trusted broker with no early deposit and free commission. So if you are looking for a least expensive broker option. You can go with AXI.
However, It also has certain disadvantages that you should be aware of. As per the customer reviews, AXI has been accused of scams and delaying customer payments.
While some have complained about their unprofessional customer support team. There has been a mixed bag of reviews making it hard for you to decide.
However, I have narrowed down the issues and benefits of AXI, check out the pros and cons below
Pros and Cons of Choosing AXI
|No deposit||Issues with deposits and withdrawals|
|Zero Commission||No e-wallets are available. Check out Capitalix which provides e-wallets for transactions.|
|Wide Variety of CFD instruments like commodities, indices, crypto etc.||Mixed review and average reputation|
|Demo Account available for novice traders||Medium Risk Broker|
|Provides VPS Hosting||Complicated account verification process|
|Lack of trading information on the website|
Special Features by AXI
MT4 and MT4 Web Trader: AXI is compatible with MT4 and MT4 Web Trader, it does not support MT5 which is an advanced trading platform. To access a broker that supports the MT5 platform check out TradeEU.
However, it offers additional features and plugins to enhance trader’s experience. Apart from that, MT4 provides traders with flexibility, market coverage, live pricing, and real-time charting.
Autochartist: While trading with AXI, you can use Autochartist software to scan the market and spot opportunities. It is kind of like a trading AI bot that can help ease your decision-making.
MT4 NexGen: It is a feature specifically for Axi clients. NexGen is a plugin that will boost your trading performance through enhanced trade management.
MT4 VPS Hosting: Axi also provides VPS hosting with 24/7 connectivity. It will allow you to conduct automated trading without any interruptions.
Trading Calculator: Another tool that can help you develop your trading strategy. Through AXI’s competent trading calculator, you can make informed decisions.
What Makes AXI a Good Broker?
Leverage is an important aspect of trading as it increases accessibility. It allows traders to invest more money than they have. AXI provides a decent and flexible leverage with a limit of 500:1.
Fees and Commissions
AXI charges no fees or commissions for standard trading accounts. But if you wish to access its Pro trading account, you have to pay a commission for every trade. It charges $3.5 per lot and $7 for a round trip.
Deposits and Withdrawals
AXI provides a wide range of deposit and withdrawal mediums across different regions. It includes Africa, Asia, Europe, Latin America, the Middle East & North America (MENA), and North America (NA).
You can withdraw/deposit through local bank transfers, credit/debit cards, skrill, Neteller, AstroPay, and FasaPay. AXI also supports Przelewy in Europe. If you are from Latin America, you can use Pix and Boleto for transactions as well.
Account Types by AXI That You Must Know
The accounts offered by AXI are divided into three categories – standard, pro and elite. You can review each account type and select the one that best suits your requirements.
|Standard Account||Pro Account||Elite Account|
|Spreads||From 0.9 pips||From 0.0 pips||From 0.0 pips|
|Commission||None||$7 round trip||$3.50 round trip|
|Minimum Trade Size||0.01 lot||0.01 lot||0.01 lot|
|Products||140+ FX pairs. Metals CFDs||140+ FX pairs. Metals CFDs||140+ FX pairs. Metals CFDs|
|Pricing||5 digit pricing||5 digit pricing||5 digit pricing|
|Margin/Leverage||Up to 500:1||Up to 500:1||Up to 500:1|
|Base Account Currencies||AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD||AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD||USD, EUR, GBP, AUD|
Follow These Steps to Open an AXI Account
Step 1: Fill Out The Application
Go to AXI’s official website, and click on the open live account button. It will redirect you to an application page where you need to fill in your personal details.
This is how the registration application of AXI should look like
Step 2: Verification
Axi requires verification to confirm your details. It will be done electronically via your email ID. You are also required to submit documents like address proof to confirm your authenticity. After you confirm the details, move on to the next step.
Step 3: Add Funds
After confirming your details, you will have your trading account ready. To start trading add a minimum amount on your trade account. Now you are all set!
Does AXI have a Mobile App?
AXI provides its own trading platform which you can access simply by downloading the app. The app is extremely user-friendly with easy risk and rewards management.
It offers more than 500 products on both iOS and Android along with competitive prices. It requires no commission and 100% edge. Moreover, it supports maximum leverage up to 20:1.
Is AXI a Secure Platform?
AXI is an ASCI-regulated platform that is the most trusted Australian financial regulator. A regulated broker is much more reliable and secure than a non-regulated one.
Moreover, Axi also abides by certain safety and security guidelines to protect the client information. It is also associated with industry-leading cybersecurity providers.
This allows data encryptions, safe online transactions, and improved compliance & effectiveness. AXI has a secure website that allows transparent communication with clients.
It requires a registration number for you to access your account while ensuring your safety.
Is AXI Regulated?
Yes! AXI or AxiCorp Financial Services Pvt Ltd. has multiple regulators. It is primarily regulated by the Australian Securities and Investments Commission (ASCI). It is the most trusted financial regulator with many brokers under its belt, Invest FW is the best ASCI-regulated broker.
AXI is also licensed in Dubai under the Dubai Financial Services Authority (DFSA). AXI service in the UK is regulated under the Financial Conduct Authority (FCA) with a 466201 firm reference number.
Learn Trading through AXIs Educational Resources
Fortunately, AXI provides a wide array of educational resources including online courses, tutorial videos, free ebooks, easy-to-understand summaries etc.
You can access these materials without paying any amount. It can be a great asset to learn about forex trading, especially for novice traders. Upon trading with Axi, you can access regular webinars and workshops to boost your insight.
Through AXI’s educational resources, you can stay updated with the latest market news, and gain expert insight on trading. It will help you understand the trends and product movements of the market which will eventually improve your trading skills.
AXI Trading Academy
The trading academy offers an Introduction to Financial Markets, an Online Master Trader Program, and LSE accredited online trading platform. You can choose amongst three academic courses as per your learning and trading goals:
Introduction to Financial Markets
- $260 deposit
- 10 bite-size videos
- More than 2 bonus videos
- MCQ tests
Online Master Trader Program
- $400 deposit
- 10 video tutorials
- Weekly webinars
- Structured Modules
LSE-accredited online trading platform
- Deposit of $1900
- LSE accredited
- CISI videos
- Strategy Videos by experts
- Networking with Alumni
Sources: AXI Review
- WikiFx: WikiFx is a trusted China-based broker review website. As per its review, AXI is a decent broker with a score of 7.84 out of 10. But it has received over 38 complaints against AXI in the last 3 months. So, be mindful of the potential scams or risks.
- BrokerChooser: It is another broker review website that provides detailed comparisons and comprehensive reviews. BrokerChooser ranks Axi 4.4 out of 5 which is a trustable score. As per the website around 6000 people find Axi to be a reliable broker
- TrustPilot: TrustPilot is a verified and trusted financial website that reviews brokers. As per the review, Axi got a ranking of 3.7 out of 5. Customer reviews have been a mixed bag. While some have praised Axi’s services and support, others have reported scams related to withdrawals and deposits. So, be aware!
- Forex Peace Army: Forex Peace Army has rated Axi 3 out of 5 because of its multiple top-tier financial regulators. As per the customer review, people have experienced withdrawal issues and scams working with Axi.
AXI has thorough customer support available 24 hours a day, 5 days a week. Except on Mondays, when the support service begins at 9 am.
The experts at AXI will provide you with the best solutions and answers to queries. You can reach customer care services through website requests and WhatsApp messages.
The website provides 24/5 live chat, help centre, email and call support. You can reach out to AXI with your issues through their official email [email protected]
Check out AXI’s official customer support contact numbers below:
|Australia||1300 888 936|
|Hong Kong||800 903 578|
|Malaysia||1800 81 6529|
|New Zealand||0800 480 404|
|Singapore||800 120 6765|
|United Kingdom||0800 018 3306|
Is AXI Better Than PepperStone?
Pepperstone is another Australian broker platform that is renowned. It is a trusted platform regulated by ASCI and requires no minimum deposit. To learn more about visit Pepperstone.
AXI and Pepperstone have similar leverage and spreads. But which broker platform is better? Let’s compare each attribute in detail
Both Pepperstone and AXI are regulated by the Australian Securities and Investment Commission (ASCI). However, Axi has multiple regulators including DFSA, AFSPL, and FCA.
AXI is a Market Marker while Pepperstone is an Electronic Communications Networks broker type. The former has flexible spreads whereas the latter requires a fixed transaction fee and does not work on spreads.
Pepperstone has support in two languages English and Chinese whereas AXI has 8+ languages available. This implies that AXI has the potential for wider reach and global trading.
Both brokers provide a certain set of trading accounts. Pepperstone offers standard and razor accounts which are similar to Axi’s standard and Pro account.
Axi however, offers an additional account type called Elite account which Pepperstone is lacking. Both broker platforms provide a demo account and Axi offers an Islamic account as well.
Pepperstone and Axi support the MT4 platforms. However, Pepperstone is also MT4, MT5 and cTrader. So, Pepperstone includes more options for traders to choose from and supports an advanced trading platform, MT5. Check out Novatech FX which provides multiple trading platforms.
Both Pepperstone and AXI provide a wide array of trading assets from stocks, CFDs, commodities, and metals to cryptocurrency. If you are looking to trade in multiple markets, both these brokers can be a reliable choice.
Charges and Fees:
Both the broker platforms require no minimum deposit for any type of account. You can start with a demo account by funding a limited amount for trading. Pepperstone does have a recommended deposit of $200 to $500 USD.
AXI has efficient customer support with live support chats, email and contact support and a help centre. But it is only available 5 days a week and starts after 9 am on Mondays.
Whereas Pepperstone offers 24/7 customer support. Traders can reach out for help anytime through email and contact numbers.
As per the broker review by forexbroker.com, Pepperstone has a greater trust score as compared to AXI. Moreover, AXI has been subjected to issues of scams and transactions.
Overall, Pepperstone is a more reliable and trustworthy broker than AXI. Although AXI has better features and MT4 plugins, Pepperstone supports multiple platforms. AXi provides a better trading edge but Pepperstone is excellent for experiencing a competitive trading environment.
In the world of forex trading, finding the right broker is like picking the right partner for a dance. AXI, founded in 2007, stands out as a popular choice. They offer a variety of accounts, educational resources, and handy tools like Autochartist and VPS hosting.
But, customer reviews are a mixed bag, with some praising their services while others report issues like delays and unprofessional support.
I would recommend you to use AXI forex broker if you are looking for an inexpensive broker option. It has great MT4 plugins which can benefit you. But make sure to verify your account and be aware of potential scams.
AXI is like a coin with two sides – it’s cost-effective and feature-rich, but it might come with some hiccups. Just remember, every trader’s experience can differ, so keep your eyes open and your steps cautious in the forex dance. Happy trading!
What Platforms Does AXI Offer?
AXI provides its services across various platforms including MT4, MT4 Web Trader, IOs, windows, and Android. You can access AXIs services on any of these platforms. It supports mobile trading with 0 depositions and a free trial.
How Can I View Trading History?
AXI believes in transparency and allows traders access to view their trading history. To access it you have to open the MT4 platform, click on ‘tools’
How to Download MT4 Platform for Axi Trading?
After completing and verifying your registration application, a link will be sent to your registered number or email ID. You can download the latest version of the MT4 platform and log in to start trading.
Is AXI a Good Broker?
Axi is a regulated broker with decent customer reviews. It is a great broker if you are familiar with the MT4 platform and are looking for low-budget trading options.
Who is the Owner of AXITrader?
AXI is owned and run by its parent company AXIcorp Financial Services Pvt Ltd. The present CEO of the company is Rajesh Yohannan.
How Much is the Minimum Deposit of AXI?
AXI is a deposit-free broker platform. You can start both live trading and demo trading accounts with zero deposit and commission charges.
Does AXI Offer a Demo Account?
Yes, AXI does offer a demo account starting with zero minimum deposit. The free demo trial is only valid for 30 days. But it offers a wide range of benefits like 24/5 client support, and $50,000 of virtual funds to practice trading.
Along with various types of currencies to choose from. It provides you with a live market environment for the most authentic trading experience.
Why Do We Recommend AXI?
- AXI is a great trading platform for novice traders as it provides a demo account with zero initial deposit.
- AXI is a Market Marker type of trading broker. This means that it does not require any commissions for withdrawal and deposition.
- It offers beneficial MT4 plugins like VPS hosting, Autochartist, MT4 NexGen, and trading calculators to enhance your trading performance.
- AXI provides a wide variety of currency pairs, allowing traders to get creative with their choices.
- It is regulated by multiple top-tier financial authorities which strengthens the authenticity and security of the platform.
- The AXI website is transparent and has an easy-to-use interface.
- It provides dynamic learning and training resources like multiple full-time courses, online learning, ebooks, video tutorials and so on.
- AXI has strong customer support with multiple mediums like email, contact numbers, and live chat through which customers can reach out.