Axi is It a Scam? Reviews about Forex Broker

About 74 – 89% of retail investor accounts lose money when trading CFDs with this provider. You should know if you are willing to take the risk of losing money by trading CFDs before making a decision. In a nutshell, AxiTrader is a highly reliable and efficient broker. Their platform is ideal for traders who’re always on the lookout for excellent payouts. The broker offers tight spreads and quick transaction execution services. Let’s also not forget the fact that the broker permits hedging and scalping through its platform, which clearly implies that trading with them is safe and profitable.

It offers forex and CFD market investors access to all asset classes. They include 54 currency pairs and 41 CFDs for goods, metal, indexes, and cryptocurrency. From humble beginnings in 2007, AxiTrader has rapidly grown to encompass a large portion of the forex market.

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Axi is a global online FX and CFD trading company, trusted by 60,000+ ambitious customers in 100+ countries around the world. The Axi platform market for CFD and forex training has several competitors, including TMGM, Pepperstone and Vantage. All use the MetaTrader trading platform and offer similar products. Axi supports more languages than the competitors, but the client support is better with TMGM and Pepperstone. The Next Generation of MT4, or what Axi calls ‘Axi MT4 NexGen’ is an advanced MT4 platform that embodies advanced management tools.It has enhanced ordering and sentiment trading.

Due to its regulatory compliance and best practice implementation, AxiTrader stays compliant across multiple authorities. A review conducted on the said regulated service proved that AxiTrader is completely legit under St.Vincent’s authority and the Grenadines Commercial Intellectual Property Office. AxiTrader is not replicated by the country’s regulator – the Financial Services Authority.

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As of January 6, 2021, the FCA has banned the sale of crypto derivatives to UK retail consumers. Other popular asset classes like real stocks or ETFs are not available. You can search for products easily by typing the name of the product or by navigating the category folders. Add your bank account details, like IBAN and Swift code (if you haven’t done it before). A bank transfer can take several business days, while payments with a credit/debit card or electronic wallets are instant.

Three unique features make AxiTrader a success at the trading game. The broker is known to harvest the best out of the Autochartist MT4 plugin, its VPS hosting, and the PsyQuation Premium service. This regulatory suspension, however, has no impact on the international clients that AxiTrader LTD operates. Both entities are different and fall under distinct jurisdictions. Hence, AxiCorp LTD, which runs AxiTrader, has not suffered any license suspension. It remains fully compliant with all the designated regulators.

As well as all online transactions, executions, or traders’ manipulations are fully encrypted and follow operational guidelines. This allows you to identify successful traders and follow their trades, which are then translated into real trades in your own broker account. To access this feature, you have to download the Axi Copy Trading platform, then link your MT4 account to it.

Feel free to try Axias its trading fees are low and there are no deposit or withdrawal fees. Axi holds a comprehensive Client Money Insurance policy that provides retail clients with protection up to US$1,000,000. This insurance coverage comes at no additional cost and automatically applies to all retail accounts with balances above US$20,000. Axi clients are provided free access to PsyQuation Premium, an AI-driven analytics platform to help you discover strategies for MT4. Below, you can see some of the many tools that are available, along with their short descriptions.

Additionally, the spreads of all Axi’s account types are competitive in the industry. Therefore, its clients are satisfied with a simple and transparent trading environment. People of any experience level can get an accessible customer support team from it.

Professional charting and analysis is possible

The platform is designed with a clean, intuitive interface that makes it easy to access charts and technical indicators, as well as place and manage trades. Axi Trader’s trading platform features include the MetaTrader 4 and MetaTrader 5 platforms, cTrader, and a proprietary platform. The MT4 and MT5 platforms offer a range of features such as charting, technical analysis, automated trading, algorithmic trading, and more. CTrader provides a more user-friendly experience with its intuitive interface and advanced charting capabilities. AxiTrader also features a NexGen version of the trading platform, which includes more post-trade features than those on previous MetaTrader 4 versions. In fact, the broker may take as many as five days to process a withdrawal and also charges commissions to the tune of dollars from traders with international banking accounts.

Axi offers trading on a good range of commodities, including gold, silver, platinum, petroleum, and soft commodities such as coffee, cocoa, and soya beans. A good bonus is much better since many top brokers charge an inactivity fee when you do not trade. Long positions are typically charged swap fees, while short positions are paid swap fees. However, this account can only be used for trading for 30 days.

Axi charges no withdrawal fees and offers several method options for withdrawal. However, if you withdraw less than $50, Axi charges a $25 administration fee . A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

At Axi, there are more pairs to trade than most other Forex brokers. These include majors (EUR/USD, GBP/USD, and USD/JPY) and minors (NZD/CAD, EUR/JPY, and GBP/NZD), and exotics (EUR/NOK, USD/SEK and EUR/ZAR). We were also impressed that beginners have access to high-quality, structured learning material and frequent market analysis. Its customers can trade with complete trust and transparency since Axi broker is regulated in the UAE by Dubai Financial Services Authority under reference number F003742. After your application has been approved, you will be able to log in and fund your account with the currency of your choice. There is no commission charged on the Pro account, but there are raw spreads.

It also allows them to see their trading performance via third-party audits. AxiTrader’s pure Forex accounts have the privileges to select assets and indices with proper diversification. Moreover, AxiTrader helps new retail traders start their first trading account before becoming advanced traders and running into the platform’s limits sooner or later. From beginners to seasoned traders, AxiTrader has enveloped the globe by becoming an efficient ecosystem of traders, brokers, and trading platforms.

They provide complete support to the automated trading experience. They run backtesting on features and user capabilities and support thousands of registered third-party plugins. AxiTrader does not promote any specific platform higher than the other, which makes it quite unbiased. This practice eliminates the misconception that new accounts lose money when trading forex. Social traders may either rely on the MT4 built-in copy trading platform or use Myfxbook Autotrade.

Lower fees, lower costs?

They have made no attempt to address my complaint or offered any acknowledgement that charging dubious fees without prior warning is bad practice. Now, I’m with https://forexarena.net/ Finance Me Consultancy , who provides intermittent payouts. The business helps consumer in making wise financial inv, ensuring timely and accurate payments.

A series of educational resources is available at Axi, such as seminars, articles, eBooks, market analysis, trading education, etcetera. “Axi has offices worldwide and is subject to the financial laws of numerous jurisdictions. Unfortunately, some countries are marked as high risk or where trading is not permitted, so we cannot open accounts for citizens in those countries.”. Axi doesn’t specify what languages will be supported when dealing with customer support; they only specify that all local languages are covered. This would assume that anyone able to trade with Axi in terms of applicable countries would be able to have customer support representatives available in their local language. Like with many online brokers, Axi.com lets you trade assets in the form of CFDs.

Axi’s range of financial instruments is slightly limited compared to other brokers, but it offers over 70 Forex pairs and we were pleased that it recently added 50 global share CFDs. Axi offers clients popular payments in order to fund their accounts. Deposit options include Credit/Debit Card, Bank Transfers, Crypto, and Skrill. Axi charges no fees for funding and withdrawals to or from a trading account, up to a value of USD$50,000 per month. Axi Withdrawal requests will be processed within 1-2 business days upon receipt. 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.

• Reply by Axi submitted Nov 18, 2022 Hi Ricardo, thank you for taking the time to leave us a review.
• Axi’s trader education is better than most other ECN brokers, with detailed information in video and text format for both beginners and more experienced traders.
• Once this is complete, your account will be created, and you will be able to log into the client area and fund your account.
• The platform allows you to stop copy trading whenever you want.

In addition, the broker is a popular choice among Australian traders and worldwide investors that were convinced about the Australian service provided. Please note that by investing in and/or trading financial instruments, commodities and any other assets, you are taking a high degree of risk and you can lose all your deposited money. You should engage in any such activity only if you are fully aware of the relevant risks. BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions.

However, in general, the broker seems to have a great reputation. The license issues are probably temporary as the broker continues to enjoy success and great reviews from clients and industry experts. For the above mentioned, we stand on our toes checking all the ins and outs in a broker’s business history, biography, and reputation. The very same standards apply in the case of this world markets broker review. Please go through this article on how we conduct our broker reviews.

Because Axi is a licensed broker, it is required to adhere to the standards that have been set up to protect investors. As Axi Broker is regulated heavily by many regulatory bodies worldwide, it is widely regarded as one of the safest trading axi forex broker brokers. 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.