Axi review: Forex and commodities broker
Spreads from 0.0 pips, 140+ trading instruments and 7 platforms to choose from.
Axi (previously known as AxiTrader) is an online Australian forex and CFD broker that uses the popular MT4 trading platform along with free add-ons such as Psyquation, AutoChartist, WebTrader and Axi-One. The broker offers some of the lowest FX spreads and brokerage fees on the market and features two account types to suit frequent or infrequent traders.
|Type of broker||Market Maker|
|Available markets||Forex pairs, Metals, Commodities, Index CFDs|
|Minimum Spreads for Major Currencies||From 0.0pip|
|Commission||$0 for standard account, USD$7 per round trip for Pro account|
|Minimum Trade Size||0.01 lot|
|Leverage||1:1 - 30:1|
|Platforms||MetaTrader4, MetaTrader4 Next Gen, Psyquation, AutoChartist, WebTrader, Axi-One ECN|
|Support||24/5 live chat, email, phone|
- Low FX spreads
- Long list of FX and commodities products
- No deposit/withdrawal fees
- No minimum deposit
- Free add-on trading tools available
Not so good for:
- No individual share CFDs
- No expert advice offered
Axi (previously known as AxiTrader) launched in Sydney, Australia in 2007 as the flagship brand within the parent company AxiCorp. From a two-person startup, today it's a well-known name in the forex and CFD industry around the world, with offices in Sydney, London, Shanghai and Dubai.
Other AxiCorp brands include AxiSelect, a funding and development program, AxiPrime, for institutional grade traders, and AxiForex, a specialist offshoot for international money transfers.
Is Axi trustworthy?
Axi is licensed and regulated by the Australian Securities & Investments Commission (ASIC) under the trading name AxiCorp Financial Services. It is also regulated in the UK by the Financial Conduct Authority (FCA, UK) and in the Middle East by the Dubai Financial Services Authority (DFSA, Middle East).
Among popular user forex review sites, it has received broadly mixed but positive feedback and mid-to-high average star ratings:
- Forex Peace Army: 3*/5
- AU Trustpilot: 4.5*/5
- Compareforexbrokers.com: 7.3* /10
It has also received a number of awards in the last couple of years including "Best MT4 Broker" by CompareForexBrokers.com.
What can I trade on Axi?
- List of currencies: AUD, BRL, CAD, CHF, CZK, EUR, GBP, HUF, IDR, ILS, JPY, MZN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, TWD, USD, ZAR
- List of indices: AUS200, CNY50, EU50, FRA40, GER 30, HK50, IT40, JPN225, NETH25, SGFREE, SPA35, SWI20, UK100, US30, US500, US2000, CAC40, DAX30, DJ30, EUSTX50, FT100, HSI, NAS100
- Individual shares (CFD): Not available
- Commodities: Oil, cocoa, coffee, gold, copper, natural gas, soy beans, platinum, silver
- Cryptocurrencies: Bitcoin, Dash, Ethereum, Litecoin, Ripple
Why trade with Axi?
- Good MT4 platform performance: Axi has won awards for its easy functionality with the MT4 platform alone. You also have a range of add-on platforms including PsyQuation and Autochartist.
- Low spreads: Spreads start as low as 0.0 pips for the professional account.
- Long list of commodities offered: Along with forex and indices trading, you can also trade oil, gold, silver, coffee and soy, among others.
- Trading platform add-ons. Axi offers a suite of technology add-ons for free, including MetaTrader4 Next Gen, Psyquation, AutoChartist, WebTrader and Axi-One ECN.
- Education offered: Axi offers a series of easy-to-follow training videos if you want to learn to trade forex using the MT4 platform.
- 24/7 support. There's live chat support any time you need it.
What are Axi's spreads and fees?
Axi has among the lowest forex spreads and commission fees on the market, mostly in line with other MT4 forex providers. There's no subscription fee, inactivity fee or minimum starting deposit required on either of the accounts.
|Standard account||Pro account|
|Minimum opening balance||$0||$0|
|Spreads||From 1.0 pips||From 0.0 pips|
|Commission per lot||$0||$7|
|Leverage||1:1 - 30:1||1:1 - 30:1|
|Minimum trade size||0.01||0.01|
What account types are available with Axi?
Axi has two online trading accounts, Standard and Pro as well as a free demo account. Both the Standard and the Pro accounts share the same features, but the Standard account charges no commission on trades while the Pro account charges a commission but has lower fx spreads. There is no minimum deposit requirement for either of the accounts.
- Demo version: The free trial version offers $100,000 practice funds to play with for 30 days
- Standard: The basic account is free to set up and offers spreads starting from 1.0 pips, zero commissions and 0.01 minimum trade size.
- Professional: The professional account is free to set up and offers spreads starting from 0.0 pips plus $7 round trip commissions.
What customer support options are available?
Axi offers 24/5 live chat, email and phone service options.
Does Axi offer news and training?
Axi offers tailored daily news and analysis over email and social media channels as well as a client-only Facebook trading community group "The Trading Circle".
It also offers a series of educational training videos for those wanting to learn how to trade using the MT4 forex and CFD suite.
How do I open an account with Axi?
You can apply for a demo, Professional or Standard account with Axi by following the link above.
When you first open an account with Axi, you’ll need to select your preferred account type (Professional or Standard) and your account’s preferred currency (AUD, USD etc.). You can then choose your maximum preferred leverage 1:1 - 30:1.
You’ll need to provide identification details, including:
- Home address
- Employment status
- Company name and job title
- Trading experience level – you'll need to pass a short knowledge test
- Photo ID: passport or driver's licence
- Source of funds
- Salary level plus current savings
After you’ve been approved, you can download the MT4 platform and starting trading.
Funding and withdrawal options: Debit and credit card (Mastercard, Visa, Maestro), Neteller, Skrill, Global Collect, Bpay, China Union Pay (Chinese residents only), bank transfer, broker to broker transfer.