The broker is an Australian-based merchant that was founded in 2008 with its headquarters located in Sydney. These are the ECN instant trade order and Non-Dealing desk execution. Traders can make use of the Autochartist and Myfxbook Autotrade, which is a social-based trade community. This is because their ‘No Dealing Desk Brokers‘ allows direct trading with liquidity pools, which also enhances execution speeds. When spreads and fees are compared to other Best Forex Brokers In Australia, the overall result was favourable.
The support is multilingual and the broker offers a mobile numbers list for international traders. Despite this, the spreads are really attractive and this account type is suitable for beginners who want to day trade the markets without breaking the bank. With a 0 USD initial deposit requirement, this account offers the ability to trade Forex and other CFD markets with the lowest possible budget. But still, many brokers provide negative balance protection which is a very good protective tool for traders who are using leveraged trading.
Axi demo account
The educational centre offers chart tools that provide concise information on various commodities, equity indices and currency pairs. This could be attributed to the CFD broker being Australian owned, with an Australian customer support team. This was backed up in 2017 when the Investment Trends Australian forex broker report gave it the highest overall client satisfaction. In 2014, an Investment Trends report found that Axi forex broker had the strongest brand association as being ‘trustworthy’.
Why Choose Axi
Live chat is the fastest way to contact the broker’s support team and they are polite, responsive, and knowledgeable. It is also possible to see all the previous webinars on Axi’s YouTube channel enabling traders not to miss their lectures. The broker amplifies the MT4 trading experience with free VPS hosting and various third-party signal providers. The most useful educational materials are eBooks, webinars, and seminars as they unite practical and theoretical knowledge about trading which is essential for a financial trading career.
- Because of the years of experience under their belt, the broker has built up a trader base of over 60,000 clients from 100 countries.
- Axi has three account types available each for different types of trading.
- This was backed up in 2017 when the Investment Trends Australian forex broker report gave it the highest overall client satisfaction.
- Account holders gain access to exclusive indicators, in-depth market analysis, and VPS hosting services that are otherwise unavailable to regular customers.
- Axi has a low minimum deposit requirement, and low spreads, for average commissions, making it very suitable for scalpers who have a low budget.
Getting started on Axi – Main steps
This trading account is designed for beginner forex traders as it’s not a market makers account. The broker provides demo and Islamic accounts and offers several educational resources to assist traders. The broker offers demo and Islamic accounts free of charge and assists traders with numerous educational resources. The platform is available in nine different languages, including English, Russian, Chinese, and Spanish, and offers some of the lowest spreads traders can expect.
Axi, formerly known as AxiTrader, is a brokerage company owned and operated by AxiCorp Financial Services Pty Ltd. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. Trading forex, stocks and commodities on margin carries a high level of risk and may not be suitable for all investors. Founded in 2013, Tradingpedia aims at providing its readers accurate and actual financial news coverage. The support staff are at your disposal around the clock, Monday through Friday.
Trading Platforms
Those who already have experience with trading can share their own strategies with millions of MT4 users around the world. The latter gives you valuable insights into the latest live market trends. For example, the Correlation Trader gives you the chance to spot new trading opportunities and reduce money-management errors.
- The platform provides real-time pricing on major contracts for Brent Crude and West Texas Intermediate.
- This could be attributed to the CFD broker being Australian owned, with an Australian customer support team.
- The forex broker is certified in Australia, which is critical due to the safeguards in place to protect currency traders.
- Their trading platforms extend MAC and Windows PC and mobile trading tools like smartphone devices such as the iPhone and Android phones and iPad and Android.
- One key difference between the two is that standard accounts do not incur any commissions.
Axi Elite is a VIP account that offers lower spreads and commissions than the other two account types. The Standard account is targeted to a general audience with average spreads and no trading volume commissions. Because of this, it is crucial that the broker offers Forex pairs with low spreads and competitive fees. Furthermore, all client funds are kept in segregated bank accounts as regulations suggest, which prevents the broker from touching and using client money for operational purposes. Axi offers negative balance protection for traders from the UK and Australia, but not for international traders who fall under St. Vincent and Grenadines’ jurisdiction. Furthermore, the broker holds several awards for offering competitive spreads and trustworthy services to international and Asian clients.
Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. This ensures that Axi adheres to strict standards of client protection and transparency. Traders can choose from 50 different types of currency pairs like AUD/USD, JPY/EUR, EUR/USD, AUD/CAD, etc. The parent company AxiCorp Financial Services Pty Ltd changed its brand name Axitrader to become Axi at the end of 2020. When the Sydney office isn’t open, there is support from London and Chisinau.
Trading platforms of Axi reviewed
Customers who qualify for elite accounts also have access to round-the-clock multilingual customer support services In both cases, there are no minimum deposit requirements, and account holders have access to the same range of trading instruments, including forex pairs and commodity CFDs. Unlike the standard version, where spreads start at 0.4 pips, the spread for professional accounts is practically zero. Traders new to the platform can choose between standard and pro demo accounts, which mirror the exact experience of live standard and pro accounts.
Step 3: Make your deposit and start trading
Axi charges a commission of USD 7 per lot round-turn with their Pro accounts. If you have a different priority, then visit our homepage and view our other forex broker comparison charts. However, more advanced accounts might have different deposit requirements.
All forex traders that open an account are provided with a axi review dedicated account manager. As a result, New Zealand retail traders can’t apply for an Axitrader account because Axi has stopped offering its services in this jurisdiction. The site navigation is very nice and offers the best graphical user interface, which makes it ideal for all forex traders. This forex trading account spreads are wider than their Pro account however the account has no commissions. Axi only offers MT4, but with scalping and automation permitted and special add-ons for the platform, the broker allows you to make of the trading platform. Australian forex broker Axi offers ECN style tight spreads for its Pro Account.
The broker offers international traders the ability to access various financial markets including Forex and CFDs with average spreads and commissions. Many brokers offer educational materials and research tools that can aid traders in becoming better at trading and beginners to gain basic knowledge of financial markets. Islamic accounts enable Islamic traders to trade financial markets while following their religious beliefs. This account is designed for intermediate forex traders looking to minimise spreads when trading.
Axi provides a competent support service via live chat, telephone, and email. Both have no set-up costs, but there are some differences concerning commissions and spreads. This replicates only the experience you get in the live trading environment. Each type of live account has distinct minimum spread and minimum deposit requirements.
MetaTrader 4 for PC and Mac
Over-the-counter derivatives are complex instruments and come with a high risk of losing substantially more than your initial investment rapidly due to leverage. The Axi team blog, in addition to regular posts from our daily market analysis contributors, is a place to share wider insights and ideas. As we’ve been branching out across the world we’ve been gradually expanding the number of tradable products on offer, with two of the most significant additions – Cash CFDs and Cryptocurrency CFDs – getting plenty of interest. 14 index futures CFDs are also offered with low spreads from 0.9 pips for the S&P 500. In the end, Axi has the potential to become a popular broker if it continues to lower fees. Axi has a low minimum deposit requirement, and low spreads, for average commissions, making it very suitable for scalpers who have a low budget.
Top-tier customers can set up their elite accounts in one of four base currencies (EUR, AUD, USD, GBP) provided they meet the minimum balance requirement of $25,000. One key difference between the two is that standard accounts do not incur any commissions. Seasoned traders who are already well versed in working with the MT4 software can set up a live account for free. Traders can use their demo accounts for 30 days to test the platform and familiarise themselves with its features. For example, Australian customers can use BPAY or the Global Collect payment service, while those based in China can top up their accounts with China UnionPay. Once they download and install the app, customers must link it to their existing MetaTrader 4 accounts.
It is a bit limited when compared to its desktop counterpart, but still offers decent functionality for those looking to trade on the go. There are countless trading robots and indicators available for free on the marketplace and paid ones can be tested before purchasing. It is possible to fully automate the trading process with MT4 as it offers advanced inbuilt and custom indicators and robots.