Axi is a well-regulated and reputable forex broker with a strong global presence. Currently, Axi is regulated in the UK by the FCA under the AxiCorp Limited brand and in Australia by ASIC under the name AxiCorp Financial Services Pty Ltd. The broker’s regulation is extended to other financial authorities across multiple jurisdictions, ensuring a high level of trust and security for traders worldwide. Given its reputation and strong regulatory oversight, Axi is widely regarded as one of the best forex brokers, making it an excellent choice for both beginner and expert traders.
In 2016, AxiCorp received a strategic investment from RGT, a leading Australian private equity firm, which helped accelerate its global expansion. This partnership has enabled Axi to offer services in over 100 countries, and today, they host over 40,000 traders across 8 offices around the world, ensuring seamless operations and support for their global client base.
Founded in 2007, Axi has grown rapidly in the forex market, and by 2015, the London-based Axi brand had already achieved $100 billion in monthly trading volume. Their exceptional growth is a testament to their ability to offer reliable services, including one of the best trading platforms globally, along with unique features tailored to meet the needs of traders at all levels.
| 🏢 Headquarters | Australia |
| 📆 Established | 2012 |
| 🗺️ Regulation | FCA, ASIC |
| 🖥 Platforms | Only MT4 |
| 📉 Instruments | Forex, Commodities as well CFDs and Indices, Bitcoin |
| 💳 Minimum Deposit | $1 |
| 💰 Deposit Methods | Credit/Debit Cards, Bank Wire, Skrill, Neteller, China Union Pay, FasaPay |
| 📱 Mobile Trading | Available |
| 🌍 Web Trading | Available |
| 💵Minimum Trade Size | 0.01 |
| 🎢 Maximum Leverage | 1:400 |
| 🌍 ECN | Available |
| 🤖 Robots | Available |
| 🎯 Scalping | Allowed |
| ☎ Customer Support | 24/5 |
Regulation
Axi has built a solid reputation over the years, though there have been some challenges regarding its regulation in Australia and its subsidiary in St. Vincent and the Grenadines. AxiCorp Financial Services, the parent company, owns and operates all subsidiaries under the Axi brand.
Axi’s Regulation History:
Until January 2020, Axi was regulated by ASIC (Australian Securities and Investments Commission). However, due to some regulatory issues, Axi’s ASIC license was temporarily suspended. The broker has since appealed this decision and continues to operate while awaiting a resolution of the case.
The Axi subsidiary regulated in St. Vincent and the Grenadines is primarily responsible for international clients. However, a search on the St. Vincent and the Grenadines Commercial Intellectual Property Office website did not return any results related to Axi’s subsidiary. This raises some concerns about the status of the subsidiary’s regulation, but it appears to be a temporary oversight by the company.
While these regulatory issues are being addressed, Axi continues to enjoy positive reviews from both clients and industry experts, indicating that the broker remains trusted by many in the trading community.
Client Protections:
Despite the regulatory issues, Axi is a member of The Financial Commission, an independent self-regulatory organization based in Hong Kong. The Financial Commission offers protections to clients, including a compensation fund of €20,000 per client, ensuring that traders are safeguarded in the event of disputes.
Bonus for Deposits & Promotions
Axi operates under the oversight of various regulatory agencies, many of which focus on client protection and ensuring that brokers maintain ethical standards. One important regulation that has been introduced in recent years is the restriction on brokers offering bonuses to clients, which is aimed at preventing misuse and ensuring transparency in the market.
As a result of these regulations, Axi does not offer any deposit bonuses or similar promotions. This is in line with legal compliance and the broker’s commitment to maintaining a transparent and regulated trading environment. If you come across any promotions or bonuses being offered in Axi’s name, it is highly likely that they are scams. Scammers often pose as legitimate brokers to deceive people and gain access to their funds, so it’s crucial to be cautious and avoid any such offers.
To ensure you’re trading with a reputable broker, always verify promotions directly through official Axi channels and avoid deals from third parties that seem too good to be true.
Trading Fees
When comparing the trading fees between brokers, we always have to consider the most important things. We will look at the leverage, commission, and spreads that you will find when trading with Axi.
There is a lot to like about their fee structure. To get a clear look that contains everything that you need to know, we have to look at the details of how much you would have to pay if you were trading.
We will select specific products, leverage each of them, and determine how much you will have to pay if you sell after a week. So, here are the products we are going to look at:
- Currency pairs: EUR/USD, AUD/USD, EUR/CHF and GBP/USD
- Stock index CFDs: EUSTX50 and SPX
We will use the following leverage for each: 1:30 for forex and 1:20 for stock index CFDs. With these as the benchmark, we can imagine a scenario where a trader buys a leveraged product, holds it for one week, and then sells it.
Financial Instruments
Axi offers a solid range of financial instruments, allowing traders to diversify their portfolios. While the selection is somewhat limited compared to other brokers, they still offer forex, stock indices, and crypto CFDs, providing opportunities to trade in several major markets.
However, Axi does not offer stock and ETF CFDs, which may limit some traders who prefer these instruments. Despite this, one of the standout features of Axi is their flexible leverage options, which provide traders with greater control over their risk exposure.
Leverage Flexibility:
The ability to change leverage on demand is a unique advantage that Axi provides. This feature allows traders to adjust their leverage ratio based on their risk tolerance. For example, while the standard leverage for stock indices may be 1:5, traders can lower it to 1:3 if they prefer to reduce their exposure and manage risks more effectively.
By lowering leverage, traders can ensure they only risk an amount that they are comfortable losing. This gives them better control over their positions and helps in maintaining a safer trading experience. If a trader does lose, they know exactly how much they are exposed to and can avoid significant losses.
In summary, while Axi’s selection of financial instruments might not be as vast as some competitors, the flexible leverage feature is a key strength, offering traders the ability to tailor their risk management strategies more effectively
Minimum Deposit, Withdrawal and Deposit Options
Axi has a clear and straightforward deposit structure based on your residency. Here’s a breakdown of the deposit requirements for Axi accounts:
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For Australian residents: A minimum deposit of $500 is required to open a standard account.
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For non-residents: The minimum deposit for a standard account increases to $1,000.
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For the British unit: There is no minimum deposit for either the standard account or the PRO account.
Axi offers a variety of payment methods for both depositing and withdrawing funds, making it convenient for traders around the world. The available options include:
Credit/debit cards and bank wires: clients choose Skrill, Neteller, China Union Pay, FasaPay, Thai International Banking, Vietnamese Instant Banking, and Polish Instant Banking.
Withdrawals can take between 2 to 5 days, depending on the method used. While these are the current processing times, Axi has plans to introduce instant payment systems that would allow direct withdrawals to your phone, making the process even more efficient and quicker.
Account Opening
Axi is subject to strict regulatory oversight, ensuring that all clients comply with necessary know-your-customer (KYC) procedures before being approved for trading. This process is in line with regulations set by authorities like the FCA (Financial Conduct Authority) and ASIC (Australian Securities and Investments Commission). As part of this process, you will be required to submit specific documents and answer compliance questions to verify your identity and eligibility for trading.
So, as you prepare to open your Axi account, make sure that you have the following things:
- A colour copy of your national ID, state-issued ID, passport, driving license, or other official identity documents. They are used to prove your identity.
- A bank statement or utility bill that is no older than three months, showing your address clearly. These documents are used as proof of the address you provide and ensure that you live in the country you indicated.
After you deliver these documents, you will be asked to answer some compliance questions that confirm how much you know about the market. It will take about ten minutes for you to finish the account opening process.
Before you start opening an account with this broker, you need to make sure that you know enough about the markets and how they work. Otherwise, you will not be able to answer the questions they ask.
Account Types
Axi provides traders with the option to open a demo account, which is a great way to get familiar with the platform and trading tools without risking real money. MT4 (MetaTrader 4) is the standard platform for Axi’s accounts, giving you access to a wide range of features and tools for both practice and live trading.
Axi Account Types:
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Standard Account:
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Higher spreads and no commission charges.
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Ideal for traders who prefer simpler trading with fixed costs.
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Pro Account:
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Raw spreads (starting from 0.0 pips) and commission included.
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Suitable for more experienced traders who want tighter spreads and are comfortable with paying a commission to achieve better trading conditions.
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The Pro Account typically offers a better trading experience compared to the Standard Account due to the raw spreads and lower cost of trading. However, the choice between the two accounts ultimately depends on what you need for your trading style and strategy.
Key Features of Both Accounts:
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Maximum Leverage: Up to 1:500. This high leverage is available because Australia has not yet capped leverage, unlike regions like Europe, where leverage is capped at 1:30.
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Quote Accuracy: Up to the 5th digit for precision in pricing.
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Hedging and Scalping: Both are allowed, offering flexibility in your trading strategies.
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Platform: MT4 is provided for both accounts, a popular platform for forex traders due to its user-friendly interface and robust features.
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Minimum Trade Size: 0.01 lots, allowing you to trade in smaller increments.
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Free Demo Account: You get 30 days to use a demo account to practice trading without any risk.
Spreads:
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Standard Account: Spreads start from 1.0 pips.
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Pro Account: Spreads start from 0.0 pips, providing a more competitive edge for serious traders.
By offering both account types, Axi caters to traders with different needs, from beginners who may prefer the simplicity of the Standard Account to more experienced traders seeking tighter spreads and more competitive conditions through the Pro Account.
MT4
Axi primarily uses MetaTrader (MT4) as its platform, offering forex and CFD market investors access to a wide range of asset classes. These include:
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54 currency pairs
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41 CFDs across commodities, metals, indices, and cryptocurrencies.
Multi-Account Manager (MAM) for MT4:
One of the standout features offered by Axi is the Multi-Account Manager (MAM) for MT4. This tool is especially useful for traders who manage multiple accounts, allowing for efficient management and seamless execution of trades across various accounts. It gives users all the benefits of the Pro Account, which includes raw spreads and tight pricing.
MT4 Features:
Axi excels in enhancing the MT4 platform by providing access to a variety of plugins, extensions, and third-party tools that help traders make better trading decisions. Some of the key features available on the MT4 platform include:
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Sentiment Indicator:
This tool allows traders to see how other traders are positioning themselves in the market, giving insights into market sentiment and helping identify emerging trends. -
Forex News:
Stay up to date with real-time market news and analysis, enabling you to anticipate how market events might affect currency prices. -
Economic Calendar:
Never miss important market events and announcements. The economic calendar helps you plan your trades around significant upcoming economic events. -
Session Map:
This tool helps traders track when different global markets open and close, allowing for better timing and decision-making in the forex market. -
New Terminal Window:
Provides features such as alerts, group function templates, and management of OCO (One Cancels the Other) orders, making international forex trading more manageable. -
Correlation Trader:
Helps identify correlations between different markets, enabling better money management and helping you discover new trading opportunities. -
Alarm Manager:
A handy tool for active traders, the Alarm Manager notifies you of important market changes, ensuring you never miss a trading opportunity. -
Automated Trade Journal:
Keep track of your trading history automatically. The trade journal provides valuable data that you can analyze to improve your trading performance and strategies.
Education and Research
Axi provides a comprehensive suite of research tools and educational resources to support traders at all levels. Here’s an overview of the tools and features that can help you with market analysis and improving your trading skills:
Autochartist Plugin:
This powerful Autochartist plugin automates technical analysis by identifying market patterns, trends, and key levels. It saves you time and helps you spot trading opportunities that you might otherwise miss, making it easier to plan your trades.
PsyQuation Premium Tools:
PsyQuation is an AI-based tool designed to improve your trading performance. It analyzes your trading history, provides insights into your behavior, and alerts you when you’re making common trading mistakes. By using this tool, you can learn from your past trades and enhance your trading psychology, making smarter, more disciplined decisions.
Market Analysis on Axi’s Website:
For additional research, you can explore the market analysis section on the Axi website. This section provides:
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Market commentaries that offer fresh perspectives on current market conditions.
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Trade ideas that help you think critically about your positions and strategies.
By combining these insights with the Autochartist and PsyQuation tools, you get a powerful research package to assist you throughout your trading journey.
Education Resources:
Axi also offers several educational resources to help you gain a deeper understanding of forex trading, including:
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Educational articles
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Video tutorials
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Online courses
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eBooks
These resources ensure that even beginners can access the information they need to learn before opening an account. The goal is to help traders become confident in their knowledge and trading skills before diving into live trading.
Compliance Checks:
Axi takes its compliance checks seriously, so it’s important that you understand the markets and trading processes before starting. Knowing what you’re doing is crucial, as trading without a solid understanding can lead to unnecessary risks.
By offering research tools, AI-driven insights, and educational content, Axi makes it easier for traders to learn, analyze, and improve—ensuring that you’re fully prepared before you start trading in the forex market.
Customer Service
Axi offers several ways for clients to get in touch with their customer support team:
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Website Live Chat:
This is the fastest way to connect with Axi representatives. You can expect prompt and accurate answers to your queries in real time. -
Telephone Numbers:
Axi provides dedicated phone lines, allowing you to speak directly with support staff if you prefer a more personal communication method. -
Email:
You can also reach out to Axi’s support team via email for more detailed inquiries or if you require documentation or further assistance.
Axi has a comprehensive FAQ section on their website that covers most of the common questions traders may have. This is a helpful resource for finding quick answers without needing to contact support.
Axi has done a great job of ensuring that everything runs smoothly, which means you’ll rarely need to reach out for support. Their platform and processes are designed to be user-friendly and efficient, allowing you to focus on your trades without issues.
