Axim Trade Review 2020
Axim Trade is an online financial services provider that offers forex 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. They also have a 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.
Axim Trade Review 2020, Pros & Cons
- Access to trade on the popular MT4 trading platform
- Only $1 is required to commence live trading
- Efficient client support desk
- Offshore broker
- Limited trading instruments
- No stocks, indices or cryptocurrencies
- Limited funding options
- Restriction of services in many territories including USA
- No educational resources
- No market news or analysis
In this detailed Axim Trade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Axim Trade is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Axim Trade.
Axim Trade Review: Summary
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 traders on a tight budget. Clients also get access to use the MT4 platform which is one of the leading forex trading platforms globally. The brokers has competitive trading conditions including tight spreads and rapid trade execution speeds.
Axim Trade Review: Regulation
Axim Trade is operated by ‘Thara Heights Owners’ Corporation’ which is authorized and regulated by the British Virgin Island Financial Services Commission (BVI FSC). It has the registration number FSC 1566389.
Axim Trade is also regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines through the Axim Trade Incorporated. It has the registration number 328 LLC 2020.
Customers’ funds are held in segregated bank accounts in accordance with regulatory rules. Axim Trade should never use customer’s 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.
Axim Trade Review: Countries
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.
Some Axim Trade broker features and products mentioned within this Axim Trade review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Axim Trade Review: Trading Platforms
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 use by millions of traders around the globe. It supports fast and quick trade executions including one-click trading function. Multiple order types are available including 4 pending order types.
Clients 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.
The MT4 platform is scalable and 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. EAs, technical indicators and other trading tools can be acquired 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 Axim Trade clients who would like to trade on their mobile devices such as tablets and smartphones. 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 Review: Trading Tools
Axim Trade has a live economic calendar that displays dates, times, countries and forecasts of economic events and their impacts on the currencies affected. The calendar is courtesy of MetaQuotes; the company that developed MT4 trading platform
Axim Trade Review: Education
Axim Trade does not offer any educational material on its site. This is disappointing as we would like to have seen some trading guides to help support beginners and to encourage informed trading.
Axim Trade Review: Trading Instruments
The trading instruments available on Axim Trade are 49 forex currency pairs as well as gold and silver. This is a very limited selection compared to some brokers who offer hundreds of trading instruments across multiple asset classes.
Axim Trade Review: Trading Accounts & Fees
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. There are no trading commissions on this account and clients 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. There are no trading commissions and clients 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. Clients can open up to 200 orders at a time.
Demo accounts with virtual funds are also available for trading practice and learning. This can be a good way to trial the brokers 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.
As broker fees can vary and change, there may be additional fees that are not listed in this Axim Trade review. It is imperative to ensure that you check and understand all of the latest information before you open an Axim Trade broker account for online trading.
Axim Trade Review: Customer Service
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 brokers website. They are available 24 hours daily on Mondays to Fridays. 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.
Axim Trade Review: Deposit & Withdrawal
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 has plans to offer Bitcoin as a payment option.
Axim Trade: Account Opening
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. From the clients’ area, you can make deposits, verify your identity, view transaction history, request withdrawals, etc.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Axim Trade Review: Conclusion
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, 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. The number of trading instruments offered is 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, the broker does not have a contact telephone number listed on their website.
The trading brokers review team believe that Axim Trade could include more services in order to become more competitive in the online brokerage industry.
Forex and CFD trading involves high level of risk to your invested capital. Please read and ensure you fully understand our leveraged products. The Company has no liability to any person or entity for any loss or damage in whole.