This is because traders won’t have to pay a conversion fee if they fund their trading account in the same currency as their bank account or local currency. Also, traders can trade in the same currency as their trading account base currency. That is, the broker only offers withdrawal via wire transfers or some electronic wallets. Deposit and withdrawal durations may vary depending on the payment method used. This also extends to fees and spreads, with no fees on money transfers, and spreads across all Axi account types representing some of the most competitive in the industry. For their part, its clients are just as satisfied with the more simple and transparent trading environment.
- You need to make sure that any deposits to your trading account are made from an account in your name.
- Bank transfers may take a few business days to clear whereas card payments and e-Wallets can be instant.
- The demo account is a practice account that comes loaded with virtual funds for practice purposes only.
- If you do need a FIX API, I would compare this solution to what you can get with Valutrades.
Founded in 2007, the formerly named AxiTrader launched the Axi brand in 2020. Today the Australian forex and contract for differences (CFD) broker services over 60,000 clients in 100 countries across the globe. For international bank wire transfers, your bank may charge you a receiving fee. This non-transactional fee is your responsibility; axi forex broker please check with your bank if you are unsure. Also, the broker will require Proof of Identity and Proof of Source of Funds before processing withdrawals through international transfers. All these provisions come together to ensure that new traders can learn what they need to know before signing up for an account.
Does Axi offer demo trading?
For depositing and withdrawing funds, bank transfer, payment cards, as well as e-wallet services such as Skrill and Neteller are used. Axi offered markets are not just limited to forex; it also offers CFD, Gold, Silver, Oil, Commodities, Indices, and Cryptocurrencies. These multiple markets help traders to diversify their portfolio in many ways.
Our Axi review found out that they offer one of the best trading platforms globally and other unique features. Axi have a generous range of trading instruments for you to choose from. You can access multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs & ETFs. Whatever your interests, there is something for everyone to trade. Whilst there should be more than enough for most of you here, IG have over 17,000. Axi offer weekly free webinars which cover a range of topics ranging market analysis, trade management, trading psychology and much more.
- You can search for systems that meet your requirement by filtering statistics that matter the most to you.
- This could be attributed to the CFD broker being Australian owned, with an Australian customer support team.
- We do not provide investment advice or solicitation of any kind to buy or sell any investment products.
- If you are beginner then you will be happy with the plethora of educational content available at no extra cost.
- Axi offer weekly free webinars which cover a range of topics ranging market analysis, trade management, trading psychology and much more.
The selection at Axi is somewhat limited when you compare them with other brokers on the same level. Rates, terms, products and services on third-party websites are subject to change without notice. We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. To help ensure you have more money left to trade with, Axi charges no fees for funding and withdrawals to or from your trading account, up to a value of $50,000 per month. If you exceed this monthly Fee Free Limit, they do reserve the right to pass on your Neteller and Credit card transaction fees. This is pretty much standard practice and not a deal breaker for me.
Final Thoughts on Axi
We provide objective and unbiased reviews, analysis and commentary. We verify some of our data for quality control but there are slight variations occasionally. We are not liable for losses that resulting from the information provided on our site. On its website, Axi markets itself as a broker built by traders for traders.
Strength 2- Enhanced Use Of The MT4 Forex Trading Platform
Axi is an award winning, regulated online broker created by traders for traders. They offer tight spreads, low commissions, rapid trade execution speeds and a range of different markets. Advanced platforms and trading tools ensure an excellent trading experience. The customer service of Axi Corp (Axi) has also won awards thanks to its 24-hour day customer centre.
Islamic Account
Even better, Axi offers traders the Multi-Account Manager (MAM) for MT4. It has all the great features that make it easy for any trader to take advantage of the provisions offered by the Pro Account. The regulation is further expanded to other regulatory agencies in multiple jurisdictions. It is safe to say that Axi is the best forex broker with a great reputation, making them an excellent choice for both learning and expert traders.
Deposits can be made from wire transfers, debit/credit cards and multiple electronic wallet options available. However, the broker only allows withdrawals via wire transfer and some electronic wallets, which is a downside. Deposits and withdrawals can take anywhere from instant to 3-7 business days, depending on the payment method used at the time.
The withdrawal method has fewer options than other best forex brokers. Axi’s withdrawal option is limited to wire transfers and e-wallets only. Moreover, MT4 forex trading platforms for the mobile are user-friendly, which is usable on any devices and operating systems such as iOS and Android.
Besides, investing in different markets also helps to recover any potential loss from any volatile markets such as forex. Top tier regulatory authorities like ASIC, FCA, FSA and DFSA regulate Axi forex and CFD broker. However, the broker is not yet listed and traded on any stock exchange in the world and does not disclose its financial statements in public. Furthermore, the broker’s licence to provide its services in New Zealand was suspended in 2019.
Axi Customer Service
Axi are a regulated broker that must be compliant with strict regulations and standards that are put in place to protect investors. Please keep in mind that as Axi are regulated in different markets by different regulators, each are subject to a different set of rules. This means that in addition to classic currency pairs such as AUD / USD, GBP / USD and EUR / USD, there are also minor and exotic pairings. Minor, exotic and cross pairs can have more movements due to thin liquidity which can present significant profit opportunities albeit with a more high risk. In 2014, an Investment Trends report found that Axi forex broker had the strongest brand association as being ‘trustworthy’. This was backed up in 2017 when the Investment Trends Australian forex broker report gave it the highest overall client satisfaction.
PsyQuation is one of the most advanced retail trading software solutions available. It analyses your trading style and performance in real-time, comparing it to the most recent data to offer intraday charting and performance effect analysis. Finally, the broker has bagged several industry awards from Forex-Awards.com, Atozmarkets.com, ADVFN International Financial Awards, and more. Some of the awards include Best MT4 Forex Broker, Best Forex Broker Europe, Best Forex Broker Middle East, and Best EMEA Region Broker. The broker does not guarantee the same-day receipt of funds, as processing times are subject to the receiving bank processes outside their control. For instance, international transfers may take between 2 – 5 days.
Axi is governed by a number of regulatory authorities worldwide, including the FCA in the United Kingdom and ASIC in Australia. On the bright side, forex commissions are cheap, and there is no inactivity fee. Account opening is simple and completely digital, with no minimum deposit requirement, which is fantastic. It only offers FX and CFDs, and its research tools lack suggestions and basic data. You can open an account with Axi and try them if you wish, as they require minimal trading costs with no deposit, withdrawal, or inactivity fees. If you are looking for a forex broker, they are certainly one to consider but for other asset classes, you may feel slightly restricted.
It comes with a wide range of built-in tools and fully customisable features. I have used MT4 for many years and it is still my platform of choice, even though MT5 is the newer version. Axi UK must comply with the rules of the European Securities and Markets Authority (ESMA) when they are conducting their business. These rules limit the amount of leverage offered to EU clients and the way in which financial services are promoted. If you want higher leverage then you would need to look at the international brand. Over 60,000 former Axitrader clients with live accounts from over 100 countries have continued to trust Axi with their online trading operations.