Axitrader Broker Review

Author By Jeffrey Cammack
Updated: April 5, 2021
Overall Rating
4.34 4.34 / 5
Rated #5 of 50 Recommended Brokers
Min. Deposit
USD 5
Regulators
Trading Desk
Trading Cost
USD 12
Website Language
Arabic, Chinese, English, Polish, Vietnamese, Thai, Portuguese, Indonesian
Support Language
Chinese, English
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA

Forex Malaysia follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read our advertising disclosure.

Summary

Axi is a well-regulated ECN broker offering trading on multiple assets, including indices, commodities, gold and silver, cryptocurrencies, and over 140 Forex pairs.  Axi has two accounts, both with competitive trading conditions, including tight spreads, high leverage, and no minimum deposit requirements. Furthermore, Axi permits all trading strategies, including hedging, scalping, and copy trading.

While the trading platform choice is limited to MT4, Axi has received industry recognition for its setup, and it offers an extensive suite of MT4 trading tools and plugins, including Autochartist, VPS, and PSyQuation.

Axi’s world-class educational materials are well-structured and in-depth, catering for traders of all experience levels.  Lastly, although none of the website materials are translated into Malay, Malaysian traders will be pleased to note that Axi offers Islamic swap-free accounts.

Reviews

Regulation
11110.54.5/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
11110.54.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Excellent
Bonuses

Account Information

Base Currencies
AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD
Number of FX Pairs
80+
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0 pips
Commission
7 USD / lot - PRO account
EUR/USD
0.0 pips
GBP/USD
0.1 pips
USD/JPY
0.1 pips
Max. Leverage
500:1

Company Details

Company Name
AxiCorp SA Limited
Founded
2007
Office Locations
South Africa, Australia, United Kingdom, Singapore, Dubai, Philippines, China, New Zealand

Pros

  • Low minimum deposit
  • Wide range of assets
  • Well regulated
  • Tight spreads

Cons

  • Poor customer service
  • Limited demo account

Is Axi Safe?

Axi is the trading name of AxiCorp Financial Services, an Australian financial services company founded in 2007. Axi has been regulated by the Financial Conduct Authority (FCA) in the UK since 2010 and the Australian Securities and Investments Commission (ASIC) since 2007. ASIC and the FCA are recognised as two of the strongest and most effective regulators globally, and Axi is subject to frequent inspections and audits to ensure its compliance with rules in both jurisdictions. It is also regulated by the Dubai Financial Services Authority (DFSA) and the Securities Commission of St Vincent and the Grenadines.

  • AxiCorp Financial Services is authorised and regulated by the Australian Securities and Investments Commission (ASIC), license # 318232.
  • Axi is authorised and regulated by the FCA, licence 509746.
  • Axi is a trading name of AxiTrader Limited (Axi), which is incorporated in St Vincent and the Grenadines, licence number 25417 BC 2019.
  • AxiCorp DIFC has been issued with a category 4 license by the DFSA with retail endorsement and is authorized to arrange deals in investments.

Axi has won many awards, but recent standouts include Best EMEA Region Broker 2020 (ADVFN International Financial Awards), Best Forex Broker Middle East 2019 (forex-awards.com), Best Forex Broker Europe 2019 (forex-awards.com), Best MT4 Forex Broker (atozmarkets.com),  Most Trusted Forex Broker (UK Forex Awards 2018) and Highest Overall Client Satisfaction (Investment Trends December 2017 Australia FX Report). 

An ECN broker, Axi posts all trades directly to the market without any dealing desk interference, removing the possibility of a conflict of interest.  Axi keeps all funds in segregated accounts, and all customer information and communications are encrypted. Axi clients in Malaysia will be trading with AxiTrader Ltd, regulated by the Securities Commission of St Vincent and the Grenadines.

Trading Conditions

Axi offers trading on multiple instruments, including Forex, indices, commodities, gold and silver, and cryptocurrencies.  With excellent trading conditions on two live accounts, spreads are tight, there are no minimum deposit requirements, and a reasonable commission is charged on its MT4 account.   Leverage is up to 500:1, minimum trade size is 0.01 lots, and accounts are denominated in 10 currencies, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD.  Axi also allows hedging, scalping, and copy trading and offers Islamic swap-free accounts.

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
MT4 Pro Account
USD 5
400:1
0.10
$7
Account Details
MT4 Standard Account
USD 5
400:1
1
None
Account Details

MT4 Standard Account

With no minimum deposit, the MT4 Standard Account is a commission-free account with spreads starting at 0.4 pips. Traders have access to over 140 FX pairs, maximum leverage of 500:1 free AutoChartist, and a free VPS service (the VPS service is subject to a minimum trading volume).

MT4 Pro account

The MT4 Pro Account is very similar to the MT4 Standard Account, with the same perks and trading assets; the only difference is that a 7 USD round trip commission per lot is charged on trades.  Spreads start at 0.0 pips, and there are no minimum deposit requirements. 

Demo Account

Axi offers a demo account with a virtual balance of 50,000 USD that remains open for 30 days. Once you register a demo account, Axi will provide you with a dedicated account manager. The demo account is an opportunity to experience Axi’s services without risking real money. Still, the 30-day limit is unusual – many brokers offer unlimited demo accounts (but without the dedicated account management service).

AxiTrader-Accounts

Spreads and Commissions

Spreads start at 1.20 pips on the MT4 Standard Account and no commission is charged. Spreads start at 0.0 pips on the MT4 Pro Account and a commission of 7 USD round turn per lot is charged.  Because Axi is an ECN broker, spreads are generally tighter than those of market maker brokers.

Deposit & Withdrawal fees

Like most brokers, Axi operates a “return to source policy,” meaning that withdrawals can only be returned to the original funding source.  All deposits and withdrawals are free of charge, and you can fund your account via:

  • Debit and Credit Cards (Visa, Master, Maestro, JCB) – Payments are instant, and Axi does not charge any fees for the first 50,000 USD deposited.  Thereafter, Axi will pass any transaction fees onto its clients.  Accounts are denominated in AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, and USD. 
  • Neteller/Skrill – It can take up to 15 minutes for deposits from e-wallets to post to your trading account.  Minimum withdrawals start at 5 USD, and withdrawals may take 1 – 3 days.  Accounts are denominated in AED, CAD, CHF, EUR, GBP, INR, SGD, USD, and ZAR.
  • Malaysian Internet Banking– Accounts are denominated in MYR, and deposits are free.  A minimum withdrawal of 5 USD is required and are processed within 1 – 3 days. 

Axi processes all withdrawals within 1-2 days, and all withdrawal requests must be made from within the client portal. Axi does not charge a fee for making a withdrawal, but your bank may charge fees depending on the transfer method.

AxiTrader For Beginners

Axi provides a comprehensive, well-structured, and in-depth educational section, including beginner guides, video tutorials, ebooks, seminars and webinars, and the Axi Academy. 

Educational Material

Trader education at Axi is available in both written and video formats. Highlights of the education section include:

  • Video tutorials on demand
  • Courses available in 24 languages
  • An eBook with a simple lesson structure
  • Frequent tests to monitor your progress

Topics covered include:

  • Forex trading basics: Currency pairs, leverage, spreads, opening/closing trades
  • Analysis techniques: Charts, technical analysis, support/resistance
  • Developing a trading strategy: Including day trading, news trading, trend trading, and more
  • Trading psychology: Risk management, greed and overcoming the fear of loss

Analytical Material

Aside from a functional Economic Calendar, Axi also runs a Market News Blog that features regular analysis, both technical and fundamental, and educational pieces and features (such as the effect of the Corona Virus on global markets). The regular analysis includes a weekly market preview, charts of the week, and a daily briefing on market events.

Overall, although the material is not as in-depth as you may expect from a broker of this type, all analysis is solid and well-written.

Contacts

Customer Support

All new and existing clients have dedicated account management and access to customer support 24/5 via telephone, email, and live chat. Toll-free numbers are available in Australia, China, Germany, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore, Spain, Thailand, and the UK.  Support is also offered in Malay.

For the purposes of this review, we found the customer support responsive, polite, and knowledgeable. 

AxiTrader Trading Platforms

AxiTrader MetaTrader Platform

Metatrader 4

Currently, Axi only supports the MetaTrader 4 (MT4) platform, but with the growing popularity of MetaTrader 5, we expect support to be added for the newer version soon. MT4 trading on Axi is fully customisable, with a range of tools and plugins that can be added to the platform to make it more powerful.

Features of MT4 include:

  • MQL4 programming language
  • Single-thread, single-currency backtesting
  • 30 inbuilt technical indicators
  • 31 graphical objects
  • Nine timeframes
  • Hedging allowed

Mobile Apps

The MT4 platform is also available for Android, iPad, Mac, and iPhone mobile devices.

Trading Tools

Axi offers a wide range of trading tools that can be plugged directly into your MT4 trading platform. While all these tools are “free” to Axi clients, many of them are conditional on higher minimum deposits – our highlights include:

Autochartist

AutoChartist

Free for all Axi clients, no matter the account balance.  Autochartist continuously scans markets and automatically recognises trading opportunities based on support and resistance levels. Once an opportunity has been identified, traders are alerted. Autochartist is one of the most valuable tools on the market.

PsyQuation Premium

With a minimum deposit of 500 USD (or currency equivalent), traders can access PsyQuation Premium. PsyQuation is one of the world’s most advanced data analytics plugins for retail traders. Using highly sophisticated algorithms, it analyses your unique trading history and style and helps improve the profitability of your trades by alerting you to potential mistakes based on previous trading behaviour.

Auto/Social/Copy Trading

Axi offers DupliTrade, Myfxbook, and Zulutrade (with a 5000 USD minimum deposit), all are powerful third-party auto-execution systems that duplicate the trades of other successful traders.

MT4 Forex VPS Hosting

Axi clients can also subscribe to an MT4 Forex VPS hosting service provided by external third-party providers, helping ensure trades are never disrupted by technological or connectivity issues. The prices and services offered vary by provider, but some are free once you hit a minimum trading volume of 20 lots pcm.

Evaluation Process

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Axi offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Axi Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Axi would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overview

For experienced traders who value simple account options, strict international regulation, and a heavily customisable MT4 platform, Axi is a tempting option.  With excellent trading conditions on two live accounts with no minimum deposit requirements, Axi allows all trading strategies.  It also offers a world-class education and market analysis section, making it a good choice for beginner traders.  Lastly, while platform choice is limited to MT4, traders will appreciate the wide range of trading tools and the selection of trading instruments on offer.   Overall, Axi is suitable for beginner traders and experienced MT4 users looking for a new broker.

AlertAccepts Malaysian Clients. Average spread EUR/USD 1.20 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA

Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.34/ 5
USD 5
ECN/DMA
Commodities
Cryptocurrencies
Forex
Indicies
Metals
WTIs
80+
6
  • Low minimum deposit
  • Wide range of assets
  • Well regulated
  • Tight spreads
  • Poor customer service
  • Limited demo account
11110.54.5/ 5
11110.54.5/ 5
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
111104/ 5
75.6% of retail investor accounts lose money when trading CFDs with this provider
500:1
0 pips
MT4 Pro Account
MT4 Standard Account
Visa
Mastercard
Maestro
Skrill
Neteller
Bank Transfer
7 USD / lot - PRO account
1110.503.32/ 5
USD 150
ECN/DMA
Commodities
Forex
Equities
110
11
  • Wide range of assets
  • Copy trading accounts
  • Limited market analysis
  • Limited education
  • Wide spreads
1110.503.5/ 5
110002/ 5
111104/ 5
111104/ 5
111003/ 5
1110.503.5/ 5
111104/ 5
71.71% of retail investor accounts lose money when trading CFDs with this provider
1000:1
0 pips
Cent.Eurica
Cent.Standard
Insta.Eurica
Insta.Standard
Islamic
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Bitcoin
Unionpay
Broker to Broker
Fees Included in Spread
1110.503.64/ 5
USD 500
ECN/DMA
Commodities
Forex
Equities
63
4
  • Tight spreads
  • High minimum deposit
  • Limited education
  • Limited market analysis
  • Expensive withdrawals
1110.503.5/ 5
1110.503.5/ 5
111104/ 5
111003/ 5
111003/ 5
11110.54.5/ 5
111104/ 5
73.6% of retail investor accounts lose money when trading CFDs with this provider
500:1
0 pips
Advanced Mark-Up
Advanced RAW
Basic
Institutional
Premium Mark-up
Premium RAW
Standard
Sirix
Bank Transfer
Mastercard
Skrill
Neteller
Fees Included in Spread

Visit Broker
AlertMost retail CFD accounts lose money. Your capital is at risk.

Share your knowledge

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Featured Brokers

Close
>