Axim Trade Review
Alyaziah Hayat | May 14, 2022
Table of Contents
Axim Trade is an online financial services provider that offers forex, cryptos, indices and precious metals for trading online via the popular MT4 trading platforms across multiple devices including desktop, web and mobile. The broker has a low minimum deposit requirement but is located offshore which may deter some potential clients. I also don’t like how they have a very limited selection of trading instruments with no stocks, indices or cryptocurrencies. There is also a lack of educational materials, market analysis and social trading signals. Furthermore, the broker cannot accept clients from many countries. You can definitely find a better alternative at our broker ratings.
Broker Pros / Cons
- Access to trade on the popular MT4 trading platform
- Only $1 is required to commence live trading
- Efficient client support desk
- Regulated brokerage firm
- Limited trading instruments
- No stocks, indices or cryptocurrencies
- Limited funding options
- Restriction of services in many territories including USA & UK
- No educational resources
- No market news or analysis
Axim Trade is an offshore forex broker which was set up in 2010. It is owned by ‘Thara Heights Owner’s Corporation’ which is registered in British Virgin Islands. It is also incorporated in Saint Vincent and the Grenadines as Axim Trade Incorporated (Axim Trade LLC).
Axim Trade have a low minimum deposit requirement which is apt for beginners and for those of you on a tight budget. You also get access to use the MT4 platform which is one of the leading forex trading platforms globally. I like how the brokers has competitive trading conditions which include tight spreads and rapid trade execution speeds.
AximTrade Pty Limited is regulated by the Australian Securities and Investments Commission (ASIC), AFSL no. 001294600. Address: 103 566 St Kilda Rd Melbourne VIC 3002.
AximTrade LLC is incorporated under registration number 328 LLC 2020 by the Registrar of Limited Companies, LLC registered by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines and by the National Futures Association (ID: 0539713). Address: First Floor, Bank Building. First St Vincent, James Street, Kingstownsen Vincent and the Grenadines.
Huntington Services Limited is an IBC registered in New Zealand and is authorised as a Financial Service Provider (FSP) with license no. FSP6317469. Address: 27 Tainui Street, Raumati Beach, Paraparaumu, 5032, New Zealand.
Your funds are held in segregated bank accounts in accordance with regulatory rules. Axim Trade will never use your funds for hedging activities or day to day business running costs. In the possible event that they go bankrupt, eligible customers may be compensated under the BVI FSC Compensation scheme. Though I recommend going through the terms and conditions since they’re pretty specific on who is eligible for the compensation.
Axim Trade does not accept clients from the following countries and territories: Australia, Canada, Ethiopia, European Union, Gibraltar, Iran, Iraq, Israel, New Zealand, North Korea, Palestine, Philippines, Syria, United Kingdom, United States of America, Yemen and Singapore. If your country is not accepted by Axim Trade, I recommend checking out our broker comparison tool for alternatives.
AximTrade offers you the MT4 platform for all your trading needs. However, I would’ve liked to see them offer other platforms like MT5 and cTrader. For those platforms, I recommend checking out Axiory.
MetaTrader 4 (MT4) Platform
Clients of Axim Trade can trade on the MT4 trading platform for Windows and MAC. MT4 is one of the world’s most popular forex/CFD trading platforms used by millions of traders around the globe. I like how it supports fast and quick trade executions including one-click trading function. Multiple order types are available including 4 pending order types.
You will have various inbuilt tools that can be used to conduct in-depth market analysis on the MT4 platform. The charts can be displayed on up to 9 timeframes ranging from 1 minute to 1 month. There are over 30 inbuilt technical indicators and graphical objects which can be used for analysis.
I also like how the MT4 platform is scalable and that all its features can be improved or extended via plugin apps developed with the MQL4 programming language. The platform supports automation of strategies via software expert advisors (EAs) which can be installed on the platform. You can access EAs, technical indicators and other trading tools from the MQL market which can be accessed from the “market place” tab within MT4.
MT4 Mobile App
The MT4 mobile trading app is available for those of you who would like to trade on their mobile devices such as tablets and smartphones. I like how it has the most important features and functions of the MT4 desktop version and enables you to manage your trades whilst on the go. The app is available for download from the Google playstore and Apple store.
Axim Trade has a live economic calendar that displays dates, times, countries. I like this calendar as it forecasts economic events and their impacts on the currencies affected. The calendar is courtesy of MetaQuotes; the company that developed MT4 trading platform. I would’ve liked to see Axim Trade offer a wider selection of trading tools like other top brokers such as Saxo Bank.
Axim Trade does not offer any educational material on its site. This is disappointing as I would’ve liked to have seen some trading guides to help support beginners and encourage informed trading. For a great selection of educational resources, you should check out Fortrade.
The trading instruments available on Axim Trade are 49 forex currency pairs as well as cryptos, indices, gold and silver. I find this to be a very limited selection compared to some brokers like Freedom Finance who offer hundreds of trading instruments across multiple asset classes.
The minimum deposit required to open this account is $1. The maximum leverage is 1:3000. The minimum lot that can be traded is 0.01 lots while the maximum is 50 lots. There is an average spread of 1.0 – 1.6 pips on major forex pairs. I like how there are no trading commissions on this account and that you can open up to 200 orders at a time.
The minimum deposit for this account is $1 while the maximum leverage of 1:2000. The minimum amount of lots that can be traded is 0.01 lots while 150 lots is the maximum. There is an average spread of 1.0 -1.6 pips on major forex pairs. I appreciate that there are no trading commissions and you can open up to 200 orders at a time. As a cent account, the lot size is 1,000.
The minimum deposit here is $50 while the maximum leverage is 1:1000. The minimum trade volume is 0.01 lots while the maximum tradable lot is 50 lots. The average spread is 0.2 – 0.7 pips on major forex pairs and a commission is $3 per lot is charged. You can open up to 200 orders at a time.
The minimum deposit here is $1 while the maximum leverage is 1:1000. The minimum trade volume is 0.01 lots while the maximum tradable lot is 50 lots. The spreads start from around 3 pips on major forex pairs and no commission is charged.
Demo accounts with virtual funds are also available for trading practice and learning. I like demo accounts as they can be a good way to trial the broker’s services before committing to a real live trading account.
Swap free versions of the above live accounts are available for customers from certain regions and territories though Axim Trade has to determine if they qualify for it.
Queries and comments to Axim Trade can be addressed to the customer support team through email, live web chat or a contact us form on the broker’s website. They are available 24 hours daily from Mondays to Fridays. However, I would’ve liked to see them be available on weekends as well just like like other top brokers such as EXANTE. The broker can also be contacted on Facebook, Instagram, LinkedIn and Twitter.
Unfortunately, the broker does not provide a contact telephone number on their website. It is worth considering the impact that this may have should you need to contact them in an emergency situation.
Residents of Malaysia, Indonesia, Thailand, Vietnam and China can make deposits and withdrawals through local bank transfers in their local currencies. The minimum deposit is $10. Processing time for deposits is instant while withdrawals take 24 hours.
International clients can use bank wire to deposit and withdraw their funds. The processing time for deposits is dependent on the client’s region while withdrawals will be processed in a maximum of 7 days. No extra fees are charged for deposits or withdrawals.
Fasapay is available for Indonesian clients for deposits and withdrawals. China residents can use WeChat, AliPay and Union Pay only for deposits. Clients in Malaysia, Thailand, Vietnam and Indonesia can make use of quick transfer for deposits only.
The minimum deposit is $10. Deposits are processed instantly while withdrawals with Fasapay are usually processed instantly. No extra fees are charged for deposits or withdrawals.
The broker states that MasterCard and Visa Cards will soon be available for payments and withdrawals.
Axim Trade also offers Bitcoin as a payment option. However, for a more wide selection of crypto funding options, I recommend checking out Hankotrade.
Opening an account with Axim Trade is straightforward and easy. You can access and complete the short form on the right hand corner of every page on the brokers website. It requires the country of residence, phone number, email and preferred password.
On clicking ‘continue’, a successful message is displayed. You are required to verify your phone number by entering a 4-digit code sent to the phone number you entered on the form. On successful phone number verification, you are automatically logged into the clients’ area of the website. Here, you are required to create a profile by entering your full name and address. I like how you can make deposits, verify your identity, view transaction history, request withdrawals, etc., all from the clients’ area.
What is the Axim Trade minimum deposit?
Axim Trade offers a low minimum deposit of just $1.
How do I deposit money into Axim Trade?
Axim Trade clients can deposit funds into their live trading accounts using wire transfers, credit/debit cards, electronic payments, and cryptocurrencies.
What are Axim Trade deposit fees?
Axim Trade does not charge any deposit on clients.
How do I withdraw money from Axim Trade?
You can withdraw funds from your Axim Trade account using wire transfer, credit/debit cards, electronic payments, and cryptocurrencies.
What are the Axim Trade withdrawal fees?
Axim Trade does not charge withdrawal fees, but you may need to pay a fee to your bank or a currency conversion fee if using a different currency.
What is the Axim Trade commission fee?
The Axim Trade commission starts from $6.
Are there any Axim Trade inactivity fees?
Axim Trade charges an inactivity fee of $10 per month after one year of inactivity. The inactivity fee is deducted automatically from the client’s account.
What are the Axim Trade account types?
Axim Trade account types include standard account, cent account, ECN account, and infinite account.
Is there an Axim Trade demo account?
Yes, Axim Trade offers a demo account that is designed to allow traders to familiarize themselves with the broker’s platform without risking any of their funds.
What are the Axim Trade spreads?
Axim Trade have low spreads starting from just 0.2 pips on major forex pairs.
What is the Axim Trade leverage?
Axim Trade clients can qualify for high leverage of up to 1:3000.
Do Axim Trade allow hedging, scalping, news trading & automated trading?
Yes, Axim Trade allows all trading styles, including automated trading, hedging, and news trading.
Is there an Axim Trade Islamic account?
Yes, Axim Trade offers an Islamic account that can be requested by email. The Islamic account is swap-free, and it complies with sharia law.
What are Axim Trade trading instruments?
Axim Trade offers the following trading instruments: forex, cryptocurrencies, indices, metals, and CFDs.
How do I open an Axim Trade live account?
You can open an Axim Trade account by filling out the short form on the right-hand corner of every page on the broker’s website. The required information to complete the form include your country of residence, phone number, email, and preferred password.
How do I verify my Axim Trade account?
You can verify your Axim Trade account by providing proof of identification and up-to-date proof of address, no more than six months old.
What is the Axim Trade trading platform?
Axim Trade offers the MT4 trading platform, an intuitive trading platform that is developed for desktop, web, and mobile devices.
Where can I download the Axim Trade platform?
You can download the Axim Trade trading platforms directly from the broker’s website or the relevant iOS and Android app stores.
Where is Axim Trade located?
Axim Trade is located in the British Virgin Islands.
Is Axim Trade regulated?
Yes, Axim Trade is regulated by multiple regulatory authorities, including FSA SVG, BVI FSC, ASIC, and FSP.
What countries does Axim Trade not accept?
Axim Trade does not accept clients from countries where the use of their services would be contrary to local laws and regulations.
Is Axim Trade a scam?
No, Axim Trade is not a scam; they are strictly regulated in multiple jurisdictions and have been offering brokerage services to a global clientele since 2010.
How can I contact Axim Trade support?
The broker’s customer support team is available 24/5, from Mondays to Fridays. The broker can also be contacted on Facebook, Instagram, LinkedIn, and Twitter. Unfortunately, the Axim Trade customer support team cannot be reached via telephone.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
Axim Trade is an offshore forex broker with a basic offering that includes competitive trading conditions along with a variety of account types, low minimum deposit requirement and the user-friendly MT4 platform for multiple devices.
Despite this, I find that Axim Trade seems to restrict its services to certain territories. Payment options seem to favour those in Asia as clients from other regions have to contact customer support for payment options. I also don’t like how the number of trading instruments offered is also limited when compared to other brokers that offer hundreds of instruments in various asset classes. There are no educational resources or market analysis/news available. Furthermore, I find it suspicious that the broker does not have a contact telephone number listed on their website.
I believe that Axim Trade could include more services in order to become more competitive in the online brokerage industry. I recommend checking out the best trading platforms for a better selection of trading tools and services.