AxiTrader UK Review 2024 Is Axi a Legitimate Forex Broker?

The source of payment needs to be registered with the name of the account holder. AxiTrader requires the details of your trading experience before account opening. Traders need to answer a few basic questions like experience in the forex market and a few other questions. Clients residing in the UK can choose to open an account and get registered under 2 regulatory authorities.

Is AxiTrader regulated?

Axi broker is a great choice for any trader looking for a reliable and efficient broker. In my opinion, IC Markets stands out as the superior choice for Australian forex traders. Founded in Australia and regulated by ASIC, IC Markets has a deep understanding of the Australian trading landscape. Their competitive spreads, diverse platforms, and strong customer service make them a top choice for Aussie traders. For a more detailed look at the best brokers in Australia, check out this guide on Australian forex brokers. I like the trading experience at Axi as the Pro account offers raw spreads from 0.0 pips for a commission of $7.00 per round lot.

Unique Features

CTrader is a newcomer compared to MetaTrader and offers many features not available in MT4. One thing to be aware of with cTrader is you can only use it for trading forex. Overall, NexGen gives traders invaluable tools to assist with decision-making, trade management and execution. https://traderoom.info/is-axitrader-truly-a-trustworthy-firm/ By trading through the British subsidiary AxiCorp Limited, which is regulated by the FCA, German customers also need not worry about regulation or deposit insurance. The main difference between the standard and the pro version is the different spreads and commission fees.

Axi Pro Account

You can see real-time pricing, place and manage trades, examine account history, monitor positions, customise charts, set alerts, and many other things. This is beneficial for traders who need to access their accounts while on the go. MT4 mobile is free to download from the respective app stores on both Android and iOS. Our Compare Forex Brokers’ Axi review found that it has a US subsidiary called Axi USA. This is the avenue US-based traders need to choose to trade forex to meet American regulation.

AxiTrader’s Customer Oriented Approach & Regulatory Compliance

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. However, Axi offers a small number of tradable instruments, about 130, and does not offer ETFs and stocks, which is a drawback. We found the PsyQuation tracking tool to be very useful for tracking our trading performance and setting trade alerts. Traders can also change the leverage level of their accounts after registration. We were advised to initiate our next withdrawal via bank transfer, which we did, and the funds arrived on the next day.

Open an Account and Start Trading

1. You can open a spread betting account to place spread bets and enjoy tax free profits.
2. This trend continues across all pairs, with IC Markets always coming out on top.
3. Since Axi has an exceptional reputation, I do not view this as an issue.
4. Overall, our experience with AxiTrader was smooth from opening our account, to the deposit, trading and withdrawal processes.
5. You can add your favourite news feeds and follow traders from social networks.

The AxiTrader forex broker can be considered an average choice when it comes to trading. Whilst the broker is regulated by top tier authorities (the FCA in the United Kingdom and ASIC in Australia), our experts found that it didn’t offer a quality client experience overall. The Pro account does charge a commission of $7 round trip per lot (3.5$ to open a trade and close it), but it has a spread that starts at 0.0 pips. The minimum trade size is 0.01 lots, and it includes 140+ trading products and 10 base currencies.

At present, the broker offers two different types of trade executions. These are the ECN instant trade order and Non-Dealing desk execution. Axi does lack a few CFD trading services such as stockbroking and Shares CFD services.

Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. Since AXICorp is situated in Australia with its headquarters in Sydney, AXITrader regulation is carried out by the ASIC. AXITrader has also set up a representative office in the UK and is regulated by the FCA as well.

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 https://traderoom.info/ a few brokers that accept cryptocurrency payments with Bitcoin. Axi have a generous range of trading instruments for you to choose from.

This included comparisons to popular currency brokers including Pepperstone and IC Markets. This is because their ‘no dealing desk‘ allows direct trading with liquidity pools, which also enhances execution speeds. This trading account is designed for beginner forex traders as it’s not a market makers account. This forex trading account spreads are wider than their Pro account however the account has no commissions. AxiTrader’s customer support team was helpful and provided direct and relevant answers to our questions, but not at all times. On our first interaction with the customer service team via live chat we received an inaccurate answer to our question.

The deposits as well as withdrawals are free of any additional commission and do not have any lower limits. Clients residing in the UK can deposit and withdraw at AxiTrader through Debit/credit cards, e-wallets, bank transfers, and cryptocurrencies. However, those who wish to trade with high leverage with no protection can choose SVGFSA but this is very risky.

There are two Axi account types that impact the fx broker costs when trading with Axi. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs.

I also appreciate the swap rates, which accurately reflect the global interest rate environment, free of excessive broker mark-ups, as evident at many brokers. While the asset selection is limited, I think Axi is an excellent choice for pure Forex traders with 75 currency pairs. 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.

This is only available to their UK and Irish traders though due to regulatory requirements. Again here you will be glad to find there is no minimum deposit needed. Discussing value you will find a very low spread from 0 pips if working with a Pro account and an equally competitive spread from 0.4 pips on Standard accounts.

You can search for systems that meet your requirement by filtering statistics that matter the most to you. 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.