AxiTrader review by Forex Peace Army ⭐ Stay informed read Axi reviews
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money. There are two account options on offer, namely the standard account and the Pro account, designed for novinces and professional https://forexbroker-listing.com/ traders, respectively. The minimum initial deposit required by both accounts is $0, which is quite rare compared with many other brokers. Axi offers 24/7 customer support via e-mail, live chat, or eleven toll-free numbers, but I did not find an FAQ section. Axi explains its products and services well, and I believe most traders will not require assistance.
The technology suite of AxiTrader includes the MetaTrader 4 trading platform, its web app version, Myfxbook, and some additional APIs. The trading platforms run on all operating systems, including Windows, Mac, Android, and iOS. In October 2020, AxiTrader officially announced rebranding its company from AxiTrader to Axi. Trader communities of the platform will be rebranded accordingly.
Otherwise, the above review points to AxiTrader as a top-notch broker. So for all of us who live in the USA, are we just screwed or do you have a suggested broker for us? This blog post reads to me like, hey I found the most awesome thing in the world but too bad or you Americans, you can’t be a part of our awesome club. This largely depends on your financial situation, objectives and needs and therefore would be classified as personal advice.
This is used for both instantaneously funding accounts and meeting margin calls. AxiTrader offers a full suite of payment options for clients to fund their accounts. It is regulated by ASIC , FCA the FSA , DFSA , and a member of the non-government Financial Commission. Insurance up to $1 million by Lloyd’s is available for the accounts larger than $20,000. WikiFX Internet and its mobile products are an enterprise information searching tool for global users.
AxiTrader Alternative Brokers
Professional and non-EU clients are not covered by negative balance protection. 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. It is important to note that certain products are only available from specific live servers on the MetaTrader trading platform. You can set alerts and notifications to be received via mobile,but only on the desktop trading platform.
Is Axi regulated?
Axi has licenses from the Australian ASIC, the UK FCA, and the Dubai DFIC. Most international traders will deal with the unregulated subsidiary located in St. Vincent and the Grenadines.
Clients must ensure that they monitor their margin requirements as AxiTrader cannot guarantee that margin call notifications will be received by clients so clients should not rely on this. As for the important question about margins, Axi offers access to flexible leverage options. In addition, the broker is a popular choice among Australian traders and worldwide investors that were convinced about the Australian service provided. Yes, scalping is allowed by Axi meaning if you are a scalper then the broker is an excellent choice thanks to the supportive environment, low spreads, and fast ECN execution.
Even in the view of its minor discrepancies and some unanswered regulatory questions, AxiTrader represents genuineness in assisting the forex trading requirements of people. In 2021 and beyond, it is expected to sustain its attractiveness as a top-ranked broker with a surging market share. The valued clients of AxiTrader have helped the brand distribute its global revenue base across multiple streams, including overnight fees and dealing spreads. Due to its regulatory compliance and best practice implementation, AxiTrader stays compliant across multiple authorities. Despite the suspension, this review declares no high risk of losing money when trading on the AxiTrader platform.
Key Features of AxiTrader
Tight spreads and fast execution come as standard on all accounts. The AxiTrader’s clients as well enjoying direct access to various liquidity providers from over 14 world’s largest banks. The MetaTrader 4 trading platform is a key part of AxiTrader’s offering. It does an excellent job of providing auxiliary services, including the Autochartist Plugin and PsyQuation Premium. AxiTrader runs its in-house research to help its users with bankable insights. At the same time, it constructs educational infrastructure to train and upskill traders on new features and strategies.
No AxiTrader fees are imposed on the withdrawal of funds from an AxiTrader account. AxiTrader has developed this four-step simple process to meet the regulatory KYC requirements. New traders are likely to feel comfortable while opening an account with this process. It takes a minimum of two business days for a new AxiTrader account to get approved.
The withdrawal method must be the same as your deposit method, except for deposit via bank card to withdraw to your bank account. 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 . If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee.
Is AXI a regulated broker?
Yes. Axi is authorised and regulated by the Australian Securities & Investments Commission (ASIC), AFSL number 318232. Axi UK is a trading name of AxiCorp Limited which is registered in England and Wales under registered number 06378544.
This gives the broker ample coverage in the forex trading market. There are plenty of exotic and minor currencies available for trading on the platform as well. The services provided by AxiTrader’s trading platforms and tools have been tested to gauge their efficiency. From its pricing spreads to its key features, this AxiTrader review dives deep into the core of AxiTrader & highlights what the broker puts forth for its users.
How do I withdraw money from Axi?
Our experts found that AxiTraders spreads are average and low. With AxiTrader you’ll be able to keep your trading costs quite low, as the broker shows market-competitive spreads across a wide range of currencies, commodities, and indices . During liquid times the spreads may go as low as 0.0 pips, and the broker truly adheres to ensure costs at the most competitive available.
This information is packed with trade ideas that support the outsourced research produced by the tools. Despite the MetaTrader 4 platform’s limitations, AxiTrader runs excellently for its traders by offering them the most cutting-edge trading tool – PsyQuation Premium. The prices for availing of this feature range from a monthly subscription of $10 to $35. AxiTrader also credits its traders for using ForexVPS and Commercial Network Services if 20 lots are traded per month. Similarly, AxiTraders offers a 30% discount for the BeeksFX users through a coupon.
AxiCorp does not charge any fees for deposits and withdrawals. The minimum deposit via bank wire is $50, while other payment methods requires a minimum depost/withdrawal amount of just $5. AxiCorp is an ASIC forex broker, providing a selection of platforms for trading, as well as a number of funding options, relatively low spreads, and first-rate assistance from knowledgeable staff.
ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. Trading on AxiTrader Standard account, you only need to pay for the spread, which is the difference between the buy and sell price. AxiTrader is a registered business name of AxiCorp Financial Services Pty Ltd which is regulated in several countries. We’ll take this on board and get back to you once we get an update.
AxiTrader withdrawals – are they fair?
On the surface of the platform, there can be notable differences in spreads and commissions, execution methods, and other tools and administrative areas that can affect your trading experience. AxiCorp offers traders the market-leading and widely acclaimed MT4 & MT5 trading platforms , Myfxbook automated trading, and ZuluTrade trading platform. Axi provides traders with the out-of-the-box MT4 trading platform and upgrades it free of charge with the Autochartist plugin. I like that Axi adds Autochartist, which can assist beginner traders.
Who owns AxiTrader?
AxiTrader is 100% owned by AxiCorp Financial Services Pty Ltd, a company incorporated in Australia (ACN 127 606 348).
Maybe as most of the brokers take up to 3.2% in funding fees. As you can see, this feature adds a gauge-style view to your chart that shows the percentage of traders that are in buy or sell positions. The information is based on a relatively large sample of retail traders. Everywhere you look, it seems that everything this company does is aimed at improving the trader’s experience. Pro accounts are specifically good for scalping-type EAs, since they have much lower spreads. ASIC is the regulatory watchdog that oversees securities and investments markets in Australia.
When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located. Axitrader provides traders with currency pairs, cryptocurrency pairs, commodities, and index CFDs. Withdrawals are only released via the same method in which the payment was originally submitted. However, a hefty $35 is charged with the bank wire option and a 1%-1.5% fee for Skrill and Neteller. To submit a request for withdrawals, users have to complete a form on the website with supporting documentation. All spreads with Tradeview are a floating type and scaled with the asset class.
When acquiring our derivative products you have no entitlement, right or obligation to the underlying financial asset. AxiTrader is not a financial adviser and all services are provided on an execution only basis. Information is of a general nature only and does not consider your financial objectives, needs or personal circumstances. Important legal documents in relation to our products and services are available on our website. You should read and understand these documents before applying for any AxiTrader products or services and obtain independent professional advice as necessary.
Overall, the broker covers the most demanding markets to trade, also UK residents can benefit from the Spread Bet option. In this case, the client’s funds are safely kept in segregated accounts with top-tier banks and secured by compensation schemes. As well as all online transactions, executions, or traders’ manipulations are fully encrypted and follow operational guidelines. On the plus side, forex fees are low, and deposits and withdrawals are free of charge. Account opening is easy and fully digital, without any minimum deposit, which is also great.
One of the important points is to NEVER accept bonuses as they are usually meant to “block” any withdrawal that you would like to make. If so, as a student of the udemy course I would be very interested in hearing your 2 & 3 listed brokers. I just want to inform that this weekend the spreads become 212 points again. I will see if the spread becomes 21 pips again in the weekend.
Now you can work on this account, using $50,000 of virtual tools to gain practical skills in the market. We review all brokers to astrict and unique methodology, to ensure that we only promote high quality brands that you can trust. This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information. The best part is that AxiTrader provides MT4 NexGen for FREE to all traders who open an AxiTrader live-trading account with a minimum deposit of $1,000. MetaTrader 4 comes with a standard that differs from broker to broker.
- Please read AxiTrader Reviews below and share live trading experiences with this broker.
- However, if you withdraw less than $50, Axi charges a $25 administration fee .
- First, let’s go over some basic terms related to broker fees.
- This way, if new trader accounts lose money, their loss is insignificant and can be recouped easily.
- This feature is available only on the mobile anddesktop trading platform.
- In this case, the client’s funds are safely kept in segregated accounts with top-tier banks and secured by compensation schemes.
This makes the broker ideal for trading with a small amount. Most clients get the chance to have their account in their choice of base currency from AUD, USD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, or CAD and deposit funds. AxiTrader has no minimum deposit requirements, & every user is free to deposit any amount in the account. In most cases, the need to contact customer support arises when the AxiTrader user faces some minor issues in opening the account or managing multiple accounts. If new accounts lose money when trading with the software for the first time, the customer support staff connects them with experts for quick recovery. This practice eliminates the misconception that new accounts lose money when trading forex.
I recommend traders check with their preferred one to ensure the most cost-efficient method. Traders must request withdrawals from the secure client portal, and the name of the Axi account must match the one on the payment processor or bank account. I like the hassle-free withdrawal approach at Axi, as it adds to peace of mind when trading. While Axi offers a demo account with flexible options concerning the account balance, base currency, and leverage, it is limited to 30 days.