Axiory Review 2020
Axiory is an established online broker that offers forex and CFD trading via cTrader, MetaTrader and FIX API. They provide additional trading tools and educational materials but lack in trading instruments.
Axiory Review 2020, Pros & Cons
- Financial Commission member
- Segregated client funds
- cTrader, MT4 & FIX API
- PAMM/MAM accounts
- Charitable work
- No US clients
- Limited trading instruments
- No cryptocurrencies
- No fixed spread accounts
In this detailed Axiory 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.
Axiory 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 Axiory.
Axiory Review: Summary
Axiory is an online broker run by a team of committed visionaries that aim to deliver an innovative approach to forex and CFD trading. Founded in 2007 by experienced fund managers, Axiory has since grown to become an established global broker. The brand is powered by ‘Purple Technology’; a global fintech firm that provides brokers with innovative trading solutions including server management and optimisation, web apps development, payment solutions and more.
Axiory use advanced trading technologies and infrastructures with trading servers that are located in Equinix datacentres in London, Tokyo and New York. Trades are executed within 200ms or less. They offer fix protocol 4.4 trading solutions for experienced programmers and large volume traders. The protocol ensures that all trades are executed directly in Equinix London (LD4). The main servers are backed up in real time, this ensures stability.
Axiory operates the Straight through Processing (STP) and Electronic Communication Network (ECN) broker models. There is No Dealing Desk (NDD) and thus, client orders are passed directly to the interbank liquidity pool where they are executed at the best possible prices and speeds.
In line with its corporate social responsibility, Axiory supports people in areas affected by disaster, poverty, etc. An example is the unfortunate major earthquake which hit Nepal in 2015. Axiory responded by donating $10,000 through UNICEF in the Czech Republic.
Axiory has also partnered with “GL Africa” to support abandoned children in Cameroon and Tanzania. The broker provides financial assistance so that these children will have good food, water, clothing, medication and education. GL Africa is a non-profit organisation, based in Czech Republic, with a mission to support abandoned children in Sub-Saharan Africa. This shows good social responsibility from an ethical broker.
Axiory Review: Regulation
Axiory is regulated by the International Financial Services Commission (IFSC) in Belize. The broker maintains all the regulatory rules and regulations which are aimed at investor protection.
All client deposits are specifically held in segregated accounts maintained in reputable banks. These segregated funds are audited by PricewaterhouseCoopers (PwC); a reputable international network of financial services including auditing, etc.
Axiory follows a strict customer verification process and complies with Anti-money laundering (AML) policies. This entails that all clients are properly identified using ‘Know Your Customer’ (KYC) procedures. Before every live account is approved, the prospective client is required to submit a copy of his valid ID card as well as a utility bill. They also implement other security measures to ensure a safe transaction environment.
Axiory is a member of the “Financial Commission” (FC) which resolves disputes between traders and brokers. Eligible clients can be compensated by the FC for claims up to €20,000 per case.
Axiory Review: Countries
Axiory states clearly that it cannot accept clients from United States and Japan. Their services are not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to local law or regulation. Some Axiory broker features and products mentioned within this Axiory review may not be available to traders from specific countries due to legal restrictions.
Axiory Review: Trading Platforms
Axiory clients have the choice of two trading platforms. They are cTrader and MetaTrader 4 (MT4).
Axiory gives its clients access to trade with the cTrader platform via web browser, desktop and mobile devices. The Axiory cTrader for web is designed with html5. It fits on all screens and runs on all operating systems. The desktop version of cTrader can be downloaded and installed only on a windows PC. The mobile cTrader can be downloaded and installed on android and iOS devices. Generally, similar features are obtainable irrespective of the cTrader version utilized.
The cTrader platform is user friendly, fast and preloaded with essential tools. Here are some of the features of Axiory’s cTrader:
- It provides swift direct market access through STP/ECN technologies.
- It comes with over 60 indicators which can be used for technical analysis.
- Range of order management and risk management tools.
- Supports the development and use of custom indicators and trading robots for automated trading.
- Comes with customisable windows, live asset quotes and charts.
The MT4 platform is used by many traders because of its numerous expansion apps and inbuilt tools. Axiory MT4 is available as WebTrader, mobile and desktop applications. The WebTrader version can be accessed from Axiory’s website and runs on most modern web browsers without needing to download or install any additional software. It maintains most of the key features of the desktop version. The desktop version is designed to run on computers running the windows and MAC operating systems. MT4 is available for trading on the go with its iOS and android apps. Some of the salient features of the MT4 are as follows:
- Supports automated trading with EAs.
- Real time market “buy and sell” quotes on the charts and the customisable ‘market watch’ window.
- Different order types can be placed, adjusted or closed.
- All tradable assets can be displayed on 3 chart styles displayed across 9 timeframes.
- Technical analysis using inbuilt/custom indicators and graphical objects.
- Live account balances, account history, order history, etc.
Axiory Review: Trading Tools
This tool is available to all real account holders at no additional cost. AutoChartist is an MT4 plugin tool that scans the markets, performs analyses and notifies the trader. The AutoChartist is fully customisable to the traders’ specifications and instruments of choice.
Axiory Strike Indicator
This is an indicator designed to be installed on MT4 running on windows and MAC OS. The indicator analyzes currency pairs to identify trends. It outputs uptrends and downtrends in blue and red colours respectively.
With the support of Purple Technology, Axiory offer solutions for money managers. The solution has PAMM and MAM modules, safety features, copy functions and other tools for effective fund management.
Axiory has partnered with a firm “MultiTrader” to offer investment strategies to its clients. Traders are at liberty to choose from a selection of strategies according to their capital, risk appetite and other requirements.
The market news section is updated on the website but not daily. News releases can be used as part of a fundamental analysis.
This section of the Axiory website is dedicated to analysing the price movements of selected instruments.
Axiory Review: Education
Axiory provides educational materials to help traders improving their trading knowledge. The materials are freely accessible by clients who have registered for a real account. The training resources include:
- Free eBooks: These are created by Axiory experts to help users learn how to trade.
- Video Courses: These are a series of video lessons that are specially prepared for new traders as well as experienced traders, covering a variety of trading subjects.
Axiory Review: Trading Instruments
Axiory gives its clients access to trade over 70 trading instruments. This includes the following:
- 61 currency pairs. These includes a range of major pairs, minor and exotic pairs.
- 2 metals which includes Silver and Gold.
- 10 CFDs which includes stocks and indices.
Axiory Review: Trading Accounts & Fees
Axiory has two types of accounts offered on the MT4 and on the cTrader platforms. For all accounts, the minimum opening deposit is $200 and a maximum leverage of 1:400. The account currencies can be in USD, EUR or JPY.
- Standard Account: This is the most popular account on the MT4 platform. It is designed for all kinds of traders. The trading fees are incorporated into the spread and the execution type utilized is the straight Through Processing (STP) method. The typical spread for the popular EURUSD currency pairs starts from 1.0 pip.
- Nano Spread Account: This is the ECN account which offers good execution speeds and tight spreads. The EURUSD spread starts from 0.2 pips. A transaction fee of $10 per lot is charged.
- Corporate Accounts: The minimum deposit is $1,000 and the leverage is up to 1:400. Account holders also benefit from STP and ECN technologies. All trading styles and strategies are allowed. This account will usually have the tightest spreads and fastest execution speeds.
As broker fees can vary and change, there may be additional fees that are not listed in this Axiory review. It is imperative to ensure that you check and understand all of the latest information before you open a Axiory broker account for online trading.
Axiory Review: Customer Service
Axiory prides itself as a broker that uses a ‘human to human’ approach. The client support desk reflects this philosophy by being attentive, proactive and very resourceful. Axiory states that its support team is well trained and highly educated. The team can be reached 24/5 through email, instant web chat and phone calls. On social media, they can be reached via facebook, twitter, YouTube and LinkedIn.
Axiory Review: Deposit & Withdrawal
Axiory states that it processes bank transfer deposits and withdrawals in a business day. However, it may take 3-5 days before the money reaches your account in case of withdrawal.
Deposits made through this payment method reflect instantly in the trader’s account. For first time deposits, the card is verified by uploading its picture.
Neteller, Skrill and BitPay are the e-payment channels accepted by Axiory. Deposits via these channels are usually instant but withdrawals can take up to 24hours.
Axiory Review: Account Opening
Follow the “Open Real Account” link from the Axiory website to initiate the registration process which involves filling some forms. Personal details, trading experience, source of funds and identity verification is the information required from prospective clients.
After filling all the forms and uploading your ID card and utility bill, you have to wait for Axiory to review the application and open the account. Axiory team normally responds via email within 24 hours.
Axiory Review: Conclusion
Axiory Global has been operating for over a decade. The broker has embraced modern technology and continues to expand its services. Its servers are fast, digitally protected and duly backed up. Client funds are segregated and any dispute can be forwarded to the financial commission for resolution or compensations.
Axiory offers powerful and user-friendly platforms that have advanced tools for analysing charts, processing orders and automated trading. All trading styles and levels of trader are welcomed. Mobile trading is equally supported by the platforms via mobile apps. The broker offers ECN and STP trading which gives traders direct access to the markets without broker interference.
The asset listing of Axiory is limited when compared to other online brokers who offer thousands of tradable assets. The IFSC regulation is not considered as stringent by some traders when compared to that of the FCA, ASIC and CySEC.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.