Axi Review

Richard Montana | November 17, 2022

Axi (formerly AxiTrader) is a multi-regulated online broker created by traders for traders. They give you industry leading trading conditions on a vast range of different markets such as forex, stocks, cryptos and commodities. You can trade with tight spreads, low commission fees and fast execution speeds at the best prices. I found them to have advanced yet easy to use trading platforms for users of all experience levels. I was impressed with the additional trading tools for conducting in-depth market analysis, especially Autochartist. You can quickly and easily fund your account with a variety of convenient options to choose from. If you are beginner then you will be happy with the plethora of educational content available at no extra cost. You can also practice trading online with a free demo account or in a live environment with a minimum deposit of just $1. All of this is topped with award-winning around the clock support. I would consider Axi to be a market leader in many aspects which I will cover throughout this review.

Summary

Founded in 2007 in Sydney, Australia, Axi is part of the AxiCorp Group who have since grown to become one of the leading online brokers across the globe, primarily focused on products and services for retail traders with clients in more than 150 countries. Axi was previously known as AxiTrader before rebranding in 2020.

Established by a group of traders, they have an understanding of what traders need and thus offer tight spreads, minimal slippage, fast execution speeds and multi-lingual global 24-hour customer service. I have tried many brokers over the years and found them to be one of the best brokers for trading online within a secure and highly regulated environment.

Operating with integrity, honesty, trust and transparency is of the upmost importance. They are always looking to improve their services in order to stay up to date with the latest innovative technologies and continue to deliver excellent customer support. You even get a dedicated account manager that is available to assist you in reaching your financial goals.

Trading Conditions

Axi cater for all levels of traders with their leading trading technology being advanced enough for the more experienced traders whilst being simple enough to use for the less experienced. The powerful and reliable trading platforms are available in numerous languages. You can trade from your computer or mobile with all of the tools needed for analysing the markets, placing and managing positions.

They give you direct access to the latest market data with multiple liquidity providers (LP’s) from 14 of the world’s largest banks, for live pricing and superior trading conditions. Servers are located close to the exchange in New York, for improved trade execution. Generally speaking, the more liquidity providers a broker has, the better prices you can get. This makes them suitable for all trading strategies, from scalping to day trading and long-term investing. I would compare the liquidity to that of XM Group.

You can choose from a wide range of different trading instruments across multiple markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs & ETFs. They have a great selection with something for everyone to trade. You will find stocks of the largest companies, popular cryptos and major currency pairs.

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AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

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Regulation

Axi are a regulated broker that must be compliant with strict regulations and standards that are put in place to protect investors. The AxiTrader group includes multiple regulated companies. They also own the broker One Financial Markets. Please keep in mind that as Axi are regulated in different markets by different regulators, each are subject to a different set of rules.

Axi is a trading name of AxiCorp Financial Services Pty Ltd (AxiCorp). AxiCorp holds an Australian Financial Services Licence (AFSL number 318232). AxiCorp is authorised and regulated by the Financial Conduct Authority with FCA Reference Number 509746. Axi is a trading name of AxiTrader Limited (AxiTrader), registered in St. Vincent & the Grenadines by the Financial Services Authority (SVGFSA).

This regulation gives me confidence that they are a broker who I can trust with my funds, so I am able to focus on my trading without any worries. I would always prefer to use a regulated broker as they should always operate in a transparent manner.

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.

Funds

Client funds are held in secure and segregated trust accounts with top-tier banks including NAB and Lloyds. This means that client funds cannot be used for any other purpose by the company such as operating costs are hedging.

Countries

Axi accepts clients from all over the world, excluding USA, Canada, Iran and some other countries where restrictions apply. If they do not accept your country, you can look at our broker ratings for an alternative option.

Platforms

You can trade on multiple variations of the popular MetaTrader (MT4) trading platform. MT4 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet). Whether you prefer to trade on your desktop or whilst on the go, MT4 is compatible with the technology and operating systems you prefer to use. 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. If you want MT5, you could consider Admirals.

MetaTrader 4 Desktop

This is the most popular version of MT4 that is used by millions of traders across the globe to trade the financial markets. From the high performance MT4 terminal you can access Axi’s full selection of trading instruments. You simply download and install MT4 for PC or Mac and login to your account to start trading. MT4 has a user friendly interface with a range of benefits and features including technical indicators for analysing charts, automated trading, one click trading, flexible charts & tools. An advantage of the Axi MT4 is that they have invested in co-located servers and fibre optics for faster trading.

MetaTrader 4

I personally prefer the MT4 desktop platform as it has all of the features and functionalities. This includes automated trading with expert advisors. I actually run multiple instances of the MT4 platform to try out systems on different brokers. You shouldn’t have any problems opening charts, loading indicators, setting alerts, entering and managing positions. Whatever your trading plan, it should be suitable.

MetaTrader 4 Mobile

The MT4 mobile platform allows you to seamlessly connect your mobile device to the trading platform. You can view real-time pricing, place & manage trades, view account history, monitor positions, customise charts, set alerts and more. This is useful for those who need to access their account whilst on the go from differing locations. MT4 mobile is freely available to download on both Android and iOS via the relevant app stores.

MetaTrader 4 (MT4) Mobile

I am a huge fan of trading apps, primarily because I am able to check the market prices and how good or bad my trades are doing at any time. It doesn’t matter if I am sat on the sofa or even in bed, I can fire up the app and see what is happening. It is also great for getting notifications as soon as a price level is reached which saves me constantly checking the charts.

MetaTrader 4 NextGen

MT4 NextGen is a more advanced version of the MT4 platform with some additional features including advanced management tools, enhanced ordering and sentiment trading. You can get it for free when you open a live account and deposit a minimum of at least $1,000.

MetaTrader 4 (MT4) NextGen

Sentiment Indicator

The sentiment indicator will give you an insight into what positions other traders are taking. Sentiment analysis is often used as part of a contrarian trading strategy. I think this is a very under-rated form of market analysis. After all, it is the sentiment that moves the market most of the time. I believe this is a tool that should be readily available in all platforms.

Sentiment Indicator

Correlation Trader

The correlation trader will show you the correlation between different instruments and can help to find potential trading opportunities and for order management.

Correlation Trader

Alarm Manager

The alarm manager can send you customised alerts which is useful if you are monitoring multiple charts at once and do not want to be at your screen all of the time. If you don’t qualify for MT4 NextGen then don’t worry. You can still set standard alerts in the MT4 platform which do more or less the same thing.

Alarm Manager

Economic Calendar

The economic calendar keeps you up to date with the latest market news and can be set to send you alerts on specific events. It is useful having the calendar build into the platform rather than needing to keep checking it externally. I always like to know what is happening around the world as the news can have a large impact on price movement.

Economic Calendar

New Terminal Window

The new terminal window has some additional features for managing orders, sending alerts, creating templates, grouping functions together and more.

New Terminal Window

Automated Trade Journal

The automated trade journal can help to improve trade analysis by automatically recording your activity. If you want to find areas in which you can improve, this is a great tool.

Automated Trade Journal

Session Map

The session map simply shows you the different markets opening and closing times. Market sessions are New York, London, Tokyo & Sydney.

Session Map

Mini Manager

The mini manager has the ability to open/manage positions and use complex order types with more efficiency. This can be a handy tool if you are using a strategy that requires quick entries and exits.

Mini Manager

Forex News

The forex news feature provides you with the latest forex news directly into the platform. You can add your favourite news feeds and follow traders from social networks. It could be improved if they added other instruments.

Forex News

Axi API Trading Solutions

Axi give you FIX API trading solutions with a depth of liquidity and a technological edge to help keep your capital safe.

• Receive pricing specifically designed to improve the performance of your trading systems
• Tight spreads and low latency with reliable execution and high-level click-through rate
• High-spec infrastructure that can handle demand and ensure a stable environment with superior pricing
• Receive order execution in milliseconds with co-located servers
• Fully customisable API trading solutions

The FIX API is great for those who need an institutional trading environment. This probably won’t be required by the average day trader but if you are using a strategy that needs the lowest spreads and quickest execution possible, this could be a solution. However, it is quite complex and therefore catered more towards professional traders. I think that most of you would prefer the intuitive MT4 interface. If you do need a FIX API, I would compare this solution to what you can get with Valutrades.

Myfxbook Autotrade

Myfxbook Autotrade is an online automatic analytics tool that connects with your forex trading account directly through your MT4 trading platform. It lets you analyse your trades and copy strategies from other traders. You can search for systems that meet your requirement by filtering statistics that matter the most to you.

Myfxbook Autotrade

Some of the standout features of the Autotrade include:

• Create an online portfolio to organize and monitor all trading accounts and systems in one centralised place
• Automatically analyse data in your trading system or account using the innovative statistical analysis tools
• Allow potential clients to see your trading performance and achievements by granting them access to see your 3rd party audited trading results
• Stay ahead of the curve with Myfxbook Autotrade’s economic events calendar, market news, real-time forex quotes and other market indicators

Whilst this can be a good hands-off solution for those who do not have the time or knowledge to trade by themselves, I find the signals to be hit and miss. I would much prefer to use my own strategies as I like to know when and why a position was taken. This is also something that isn’t unique to this broker. There are many others who offer it, including FP Markets.

Tools

You will find a good choice of trading tools that can be used for assisting with your trading. I like that they are providing signals, chart analysis, multiple account management and more.

MT4 Trading Signals

The trading signals offering allows you to copy trading signals from traders around the world directly into your trading platform. There are thousands of signal providers to choose from and you can share your own strategy signals.

Trades from signal providers are placed automatically within your account and can be stopped at any time. You can follow multiple signal providers and do not need to be at your terminal when trades are placed. Risk parameters are flexible and can be set according to your own preferences.

It is important to emphasise that signal performances are based on historical performance and there is no guarantee on future performance. If you are looking for a dedicated social trading platform, then eToro would be my top choice.

Multi-Account Manager

The multi-account manager (MAM) is a built-in trading tool that allows you to conveniently control multiple accounts from one trading terminal. It can execute multiple blocks of orders on all accounts that are operating under a master account with 6 allocation methods and all order types accepted. The MAM is only available to approved and regulated operators of discretionary accounts or managed investment schemes.

MetaFx MAM

MT4 VPS Hosting

Axi clients can subscribe to a virtual private server (VPS) via external third-party providers such as ForexVPS. A VPS is a virtual host on an external server for your trading platform that runs 24/7, thus limiting connectivity issues and downtime whilst allowing you to run automated systems (expert advisors). If you trade a certain amount of volume every month, they will contribute towards the cost of the VPS.

I think it is fair that they require a certain volume to cover the cost. I actually pay a third-party provider around $30 per month for a VPS. It is a vital tool for me as I need to simultaneously run multiple MT4 platforms 24/7 for my automated systems. If you think that a VPS would be useful to your trading activities, Key to Markets also give you free VPS access if you trade enough volume.

Autochartist

The Autochartist pattern recognition software can save you time scanning the charts by conducting automated chart analysis for you. It will show you patterns found on an instrument of your choice with a pattern quality rating. You can set alerts for when patterns are found and it can also forecast possible stop loss or take profit levels.

Autochartist

I personally love this tool and think it is one of the best you can find for conducting thorough market analysis. It basically gives you professional market research in an extremely user-friendly way. It is great for finding signals and setting alerts. I don’t need to watch charts all day if I can set Autochartist to do all of the leg work on my behalf.

Automated Technical Analysis

Autochartist automatically finds Fibonacci patterns such as extensions and retracements as well as chart patterns such as Triangles, Wedges, Tops and Bottoms. It can send you notifications when a pattern is discovered and identifies possible support and resistance levels based on these patterns.

Autochartist Automated Technical Analysis

Performance Statistics

You can review the past 6 months performance statistics of the patterns and levels found by Autochartist to see those that worked and those that did not.

Autochartist Performance Statistics

Volatility Analysis

The volatility analysis gives information related to the volatility of markets at any given time with an adjustable risk parameter to identify instruments that meet a certain volatility criteria.

Autochartist Volatility Analysis

Favourites

You can set your favourites to only display certain patterns and filter by probability of success based on past performance.

Autochartist Favourites

Free Market Report

You can subscribe to be sent economic news 3 times a day that covers the outlook for various markets over the coming days.

Autochartist Free Market Report

Trading Community

There is an Autochartist trading community that includes tutorial videos to help you understand how to use and personalise the software.

Autochartist Trading Community

Economic Calendar

Axi have an economic calendar that gives you details on upcoming news events which can be filtered by trading instrument, date and impact. You can see historical and future forecasts of each news release. I find this to be a great tool for fundamental analysis.

PsyQuation Premium

PsyQuation is an advanced data analytics platform that uses highly sophisticated algorithms to analyse your own individual trading style and find areas for where you could improve. You get free access if you maintain a balance of at least $500 and trade a minimum of 1 standard lot per month.

PsyQuation Premium

PsyQuation Premium has more powerful indicators, frequently updated trading signals, comprehensive forecasting and institutional level quantitative models. Users have exclusive access to a suite of advanced trading tools that includes the Order Flow Sentiment Indicator (OFSi). OFSi allows users to view the Buy and Sell order flow of 22,000+ live trading accounts. You can also receive custom alert notifications via the app, email or SMS.

This is yet another excellent tool provided by the broker and something that I have not seen implemented by many others. If you want to take advantage of this tool, BlackBull Markets are an alternative option who also have it.

Education

Axi have an education centre with free training for all levels of traders that covers a range of basic, intermediate and advanced subjects. The centre includes eBooks, webinars, video tutorials and a glossary. All of the courses have been created by traders, for traders. That means you can be confident you’re getting the essential information you need, from people who understand the industry. Courses are self-paced so you have flexibility to go over lessons as many times as you need. I think it is great that the tutorials are available in 24 languages to cater for the wider community. Most brokers tend to just have English content so this helps set them apart from others.

Video Tutorials

There is a great selection of easy to follow tutorial videos that cover forex trading, stocks, CFDs, market analysis, trading psychology, trading strategies, trading platforms, social trading and more.

Axi Tutorial Videos

eBooks

You can download a good range of free eBooks on the website. Whether you’re learning the fundamentals of Forex, discovering different strategies or looking for expert trading tips, the eBook series can help to improve your knowledge of the markets.

Axi eBooks

Free Educational Course

The free educational course covers many aspects of trading from how to place trades, risk management, chart analysis, news trading and more. They can help you to arm yourself with essential skills and strategies to trade the financial markets.

Written by pro traders, the free five part series breaks down some of the basic concepts you need to know about trading, including:

• How FX trading works
• Trading tools, techniques and strategies that work
• Essential indicators and technical analysis techniques
• Video tutorials and other bonus content

Market News

There is a markets blog where you can read about the latest market news. This includes market analysis, education and company news. This section is frequently updated and includes technical and fundamental chart analysis which can help inspire potential trade ideas. I had a browse and managed to find some helpful insights for managing my open positions.

• Market News: Stay informed with the latest economic news and market events that matter
• Market Analysis: Drill down into the trades, trends and products moving the global markets
• Expert Commentary: Get unique market insights and see the trading world through the eyes of professional traders

Seminars & Webinars

Axi offer weekly free webinars which cover a range of topics ranging market analysis, trade management, trading psychology and much more. Whether you’re just getting started on your trading journey or are already an experienced trader, there’s always something new to discover about the markets. I think it is great that they enable you to learn as much as possible. This shows me that they are a broker who wants to encourage informed trading decisions.

Axi Trading Circle

The Axi Trading Circle is an exclusive online trading community that makes it easy to connect with leading experts, qualified analysts and traders all around the world. You can join the community to ask questions, open discussions and get practical guidance on becoming a better trader.

Trade alongside the pros

Open direct channels of communication with professional traders and highly experienced analysts, then trade alongside them as they take on the markets every day.

Real-time chatrooms

Be part of a dynamic trading community in public and private chatrooms dedicated to different trading topics, from FX and equities to analysis and strategies.

Daily market insights

Enjoy daily access to exclusive expert insights, trend analysis and views on the latest market news, all designed to help build your knowledge and improve your trading skills.

Open to traders of every level

Whether you are brand new to trading or an experienced pro, you’ll find a community of likeminded traders with valuable knowledge to share and help you trade your edge.

Knightsbridge Trading Academy

Eligible Axi clients get complimentary access to top online trading courses from the London Stock Exchange-accredited Knightsbridge Trading Academy. This course allows you to learn from accredited tutors and elite traders. It contains videos, webinars, guides and exams.

Markets

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.

Forex Trading

You can trade forex with a vast range of major, minor and exotic FX currency pairs with tight spreads, fast execution, flexible leverage and liquidity from 14 of the world’s leading banks.

Commodities Trading

You can trade commodities without needing to purchase the physical asset as you are simply trading on the price movement of the underlying asset or instrument. Some of the most popular traded commodities are gold, silver, oil and gas. Commodities are often used as a way to diversify a portfolio.

Indices Trading

When you trade indices with Axi you trade on the performance and price movements of stocks without actually purchasing physical ownership of an asset. Index trading is popular mainly due to the diversity they offer and flexible leverage.

Cryptocurrency Trading

You can trade cryptocurrency CFDs online with Axi, provided that it is allowed in your country of residence. Traders can get the advantages of Bitcoin’s high volatility without the need for a digital wallet, no requirement to purchase physical Bitcoins and without the risk of digital currency theft.

Known as a “cryptocurrency”, Bitcoin is a form of digital currency. Since it was created in 2009 it has become an increasingly widely accepted form of international currency, used by everyone from governments to small retail outlets.

Because Bitcoin it is not a centralised currency controlled by a single bank or dominated by interbank dealers, the Bitcoin market moves quickly with retail demand and can be subject to significant price swings.

With Axi, you don’t need to own any Bitcoins to trade it – they allow you to trade Bitcoin CFDs which is where you trade on the price movements, meaning you have the potential to make profit or loss from either direction. XTB also provide this service if you are a looking to buy and sell cryptocurrencies.

Accounts

You can choose from the standard or pro accounts that are flexible depending on your individual needs. I appreciate that all of the accounts feature simple and secure funding, advanced trading platforms and powerful tools for finding trading signals.

The main difference between the accounts are the spreads, commission and minimum deposit required. The account type you opt for will depend on your trading strategy. You can choose from low spreads with a small commission fee or pay no commission but have a spread mark-up instead.

Each account has 140+ FX pairs, Metals & CFDs to choose from. Leverage up to 1:500 is available with EU leverage capped at 1:30 due to ESMA restrictions. Expert advisor trading, MT4 NextGen and the free VPS for qualifying clients are available on both accounts. MT4 NextGen does require a $1,000 minimum deposit but I do not think this is necessary for those of you who are casual traders.

MT4 Standard Account

The standard account requires no minimum deposit, has variable spreads starting from just 0.4 pips and charges no commission. This account does not have the lowest spreads but on the plus side, there is no commission fee. Overall, I found the cost to be the same whether you paid the commission separately or have it included within the spread.

MT4 Pro Account

The pro account also has variable spreads starting from just 0.0 pips with a commission of $3.5 charged. This account may be preferred if you need the tightest possible spreads. This may be the case if you are using a scalping system that looks to take advantage of minor price movements.

Demo Account

Demo accounts are available if you wish to test trading conditions and platforms before opening a real account. This can be a great way to familiarise yourself with the trading platforms and practice your trading strategies with virtual funds, risk free. Once you feel confident enough to trade with real money, you can then consider opening a live account. I would always start on a demo account to see how things go when trying a new system or broker.

• A demo account mirrors the live trading environment to help you find your trading edge – without the risk
• $50,000 of virtual funds to use to practice and build essential trading knowledge
• Free for 30 days, or get unlimited access when you open a Live account
• Get access through the world-leading MT4 trading platform
• Enjoy the same features and functionality as Live trading accounts, including products, pricing, charts and more

Islamic Account

Axi do offer Islamic accounts that comply with Sharia law. Featuring no swap fees or interest payments, this account is the ideal solution for those who are unable to earn or pay interest due to religious beliefs. Simply send support a request and they can switch your account over for you if you follow the Muslim faith.

Account Signup

I found opening an Axi account to be a quick and easy process. Everything is done online which you would expect nowadays. You simply complete the registration form and verify your email address. You will then need to upload proof of identification and address for KYC purposes. Once verified, you will then be able to fund your account and start trading. Customer support is on hand to assist you during the process if required. I didn’t have any problems during signup and completed it within minutes.

Support

Axi have a global, multi-lingual team available to help you 24/5. Customer support is provided via online chat, telephone and email whilst clients get their very own dedicated personal account managers for a more personalised service. With offices in Sydney, London, Dubai and Chisinau, there is always someone from the support team on hand to answer your general or technical questions. Support is offered in 12 countries and 6 languages. They have some of the best customer support you will find anywhere, evident by the numerous awards that they have won.

Funding

I like that there is a generous selection of deposit and withdrawal methods for us to choose from. You can use a credit card, bank transfer or an online payment processor such as Neteller, Skrill, FasaPay and Sofort. They are also one of a few brokers that accept cryptocurrency payments with Bitcoin.

I prefer to fund using digital wallets as it gives me quicker access to my trading funds. This is important if I need to try and take advantage of some market news. In this instance, I wouldn’t want to be waiting around days for a bank transfer to clear.

Fees

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. If you have further questions, you can contact your account manager who will be happy to help.

Keep in mind that although they do not charge any funding fees, there may be some third-party fees when using certain payment methods. Bank transfers may take a few business days to clear whereas card payments and e-Wallets can be instant.

Currencies

Accounts can be opened in an excellent range of various currencies including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

Conclusion

Overall, Axi are one of the most impressive brokers I have come across. They standout in so many areas, especially when it comes to market analysis, education and customer support. I find them to be a reliable broker and like that I can get easy access to trade the markets on user-friendly platforms and apps. However, I would like to see them add the MetaTrader 5 platform. The fact they are well regulated gives me peace of mind so I can focus on my trading. You can trade a great selection of instruments across multiple asset classes with top class trading conditions. The broker has tight spreads, fast trade execution speeds and low commission fees. In addition to this, you also get a choice of convenient deposit/withdrawal methods, helpful trading tools, educational materials and 24/5 support. The minimum deposit is just $1 or there is an option for a demo account if you want to start trading risk free.

$1

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.

70% of retail investor accounts lose money when trading CFDs with this provider.

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About the Author

Richard Montana
Richard has many years of experience in broker research, testing, analysis and reviews. He knows what to look for through years of trading himself with different brokers and listening to the feedback of others.