Here is a detailed look at exactly which markets are offered for trading by the broker. You will be very glad to hear that Axi does not require any kind of minimum deposit when you are opening an account. With that said, brokers typically recommend a deposit of at least $100-$200 in order to get the most out of the service. Ultimately this should provide you with a great deal of choice so that you can avoid paying axitrader review any currency conversions fees if your deposit or withdrawal method currency does not match up. This is also backed up by a great range of charting tools and indicators that their own platform, as well as MT4, provides, though the limited asset choice can be an issue. This means if you are a scalper then the broker is an excellent choice thanks to the supportive environment, low spreads, and fast ECN execution.
The content is quite thin yet it can prove to be useful for complete beginners with no experience in the financial markets. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. Overall, Axi ranks #56 out of the 62 brokers that have been evaluated and scored within our investment types category.
- The platform facilitates social interaction, allowing traders to learn from each other and potentially replicate successful trades.
- We also test for the availability of high-quality educational content, actionable market research resources, and the accessibility and capabilities of mobile platforms.
- With this said, AxiTrader holds client funds in segregated accounts (with top-tier banks) and has amazing programs to secure its clients.
- In addition to the above, the broker also posts daily market updates.
An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. All of the content on BrokerNotes.co is researched, fact-checked, and edited by members of our editorial team. Our ratings and rankings are driven by our independent data collection.
Axi has been very supportive since day…
It gives traders the power to analyze statistical trends gathered from trading activity, such as volume and price movement. When combined together, this can be a powerful edge to get better trades in trading. AxiTrader offers free educational material such as ebooks, blogs, webinars, seminars, and articles that can help you to learn and know about how charting and technical analysis are used in trading. It allows you to spot new opportunities and cut down money management errors by the use of its correlation trader feature. Also, it has an economic calendar that alerts you to huge events that enable you to stay on top of the market action. You can get better analysis and reporting by the use of an automated trade journal that automatically records your trading activity.
Spreads & Commissions
Axi prides itself on 24-hour support, fast trade execution, tight spreads with minimum account slippage. You just need to fill in the form, download and install the platform (MetaTrader 4 / MT4) and start practice trading with $ 50,000 virtual cash in the account. We highly recommend getting a demo account before going live in trading because it is important to practice your skills and strategies as well as be comfortable with the platform.
We found broker’s low trading fees, also, traders can deposit as low as $1 since the broker doesn’t have any minimum deposit requirements, and overall conditions are good. Beginner traders have access to a well-presented educational portal, and I think the PsyQuation trading analytics platform represents the best tool for traders at Axi. I also like the hassle-free withdrawal process at Axi, while Autochartist offers a much-needed plug-in for the MT4 trading platform. Overall, I can confidently rank Axi as one of the best Forex brokers operational today.
Axi MT4 Multi Account Manager
Finally, let us compare Axi Standard Account average spreads with those other major brokerages offer on the three most actively traded Forex pairs. Axi also offers a swap-free account type for clients of the Muslim faith who do not want to earn or pay interest. With this account, trades in all available instruments will not incur nor be paid any swap or interest, in accordance with Sharia law.
Since then, the company has risen and has grown to be one of the largest and leading Forex brokers in the world. Axi offers its clients the ability to trade Indices, Commodities, Forex Cryptocurrencies, and Shares. Meaning that their platform is provided by the company known as MetaQuotes Inc.
Axi’s social trading features create a…
The main way that Axi generates revenue is spreads, and even these are among the industry’s thinnest. On Pro accounts, there’s a $7.00 roundtrip commission on each trade ($3.50 when opened and $3.50 when closed). Both Standard and Pro accounts require no minimum deposit to enjoy Axi’s trading experience and highly competitive spreads.
Axi offers a comprehensive instructional program, which makes it a great alternative for new traders. The third-party PsyQuation trade statistics program is also a useful resource for growing traders. Individual users receive Negative Balance Protection, which guarantees they will not lose more than what they’ve invested with AxiTrader. To minimize confusion, customers have a single brokerage account with AxiTrader but can have many subsidiary profiles in the shape of trading software logins.
This can be carried out very effectively through the EAs feature of the MT4 trading platform. Overall then Axi is a great choice if you prefer a feature-filled proprietary trading platform. If you are looking for direct copy trading though, there may be more ideal choices. AxiTrader account can be funded by several options including Moneybookers/Skrill, Neteller, Wire Transfer, Credit Card, and BPAY.
It is available as a desktop client, where traders get the full functionality of MT4, a light web-based platform, and a mobile app. Our Axi review above explains the wide range of financial instruments for trade like oil, silver, gold, CFD, etc. Traders can choose from 50 different types of currency pairs like AUD/USD, JPY/EUR, EUR/USD, AUD/CAD, etc. The market is open 24-hours and one can trade at any point of time suited to their needs. It offers low-cost trading with best in class risk tolerance limits and different types of assets to choose from. As explained in the section above, AxiTrader has many advantages for traders, such as no deposit, withdrawal, or inactivity fee.
Modern traders expect high performance technology and exceptional service, and with Axi that’s exactly what you get. Founded in 2007, the Axi brand (formerly known as AxiTrader) is a trusted forex broker that holds multiple licenses in reputable regulatory jurisdictions such as the U.K. Axi is a MetaTrader-only broker that offers MetaTrader 4 as well as social copy trading from ZuluTrade. That said, traders at Axi only gain access to a limited range of tradeable markets. Besides currencies, traders also have access to indices, metals and Crypto (bitcoin at the time of the review).