For example, you might buy a financial asset now, expecting it to bring in income later or be sold for a profit. Leveraging these investments for future needs is the aim, not selling them for a profit right away. Through interest or dividends, they give the business a steady flow of money that it can use for ordinary business activities. For a full comparison, we decided to take a full combination of their fees in all accounts and compare them against the same standard offered in other leading brokers. 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.
- Generally, Axi (formerly AxiTrader) is an extremely trustworthy, established trader with competitive trading options.
- The broker has tight spreads, fast trade execution speeds and low commission fees.
- You can experiment with different financial instruments including currencies, CFDs for stock indices, and commodities like gold or crude oil.
- I think it is great that the tutorials are available in 24 languages to cater for the wider community.
- In addition, guides and infographics provide added data for customers to use in order to inform their trading activities.
- Be part of a dynamic trading community in public and private chatrooms dedicated to different trading topics, from FX and equities to analysis and strategies.
For people having AUS bank accounts, the withdrawals do not attract any type of commission. However, the broker can charge anywhere between 15 and 25 dollars for people having international bank accounts. All the deposits are processed instantly while the withdrawals can take up to 5 days to settle. 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.
Axi Demo Account
It is a vital tool for me as I need to simultaneously run multiple MT4 platforms 24/7 for my automated systems. If you think that a VPS would be useful to your trading activities, Key to Markets also give you free VPS access if you trade enough volume. It is important to emphasise that signal performances are based on historical performance and there is no guarantee on future performance. If you are looking for a dedicated social trading platform, then eToro would be my top choice. Trades from signal providers are placed automatically within your account and can be stopped at any time. You can follow multiple signal providers and do not need to be at your terminal when trades are placed.
Whether you prefer to trade on your desktop or whilst on the go, MT4 is compatible with the technology and operating systems you prefer to use. It comes with a wide range of built-in tools and fully customisable features. I have used MT4 for many years and it is still my platform axi forex broker of choice, even though MT5 is the newer version. Client funds are held in secure and segregated trust accounts with top-tier banks including NAB and Lloyds. This means that client funds cannot be used for any other purpose by the company such as operating costs are hedging.
Cryptocurrency CFDs
You can check this section to clear your doubts about Axi and if still, you are not clear you can easily contact Axi customer support. So it is important to make sure that all the deposits in your trading account come from an account in your name. They accept payments from joint accounts if you are one among the account holders. AxiTrader does not charge any inactive fees or account maintenance fees. API trades help in executing trades at the perfect time as it has been programmed.
Beginner’s Guide to Forex provides a good amount of information on products and trading tools for beginners. Here you can learn the basics of forex and discover different strategies. MT4 WebTrader provides more functions with high quality and flexibility. You can access MT4 WebTrader by logging in to your Axi account from any web browser. AxiTrader basically offers CFD trading which is a type of Derivative trading. It offers various underlying assets such as Forex, Stocks, Indices, Oil, Metals, Commodities, and Cryptos to execute CFD trades.
This is only closed on the weekend when currency markets are closed. The company has clients in more than 150 countries and a Monday to Friday call centre. When the Sydney office isn’t open, there is support from London and Chisinau.
Once verified, you will then be able to fund your account and start trading. Customer support is on hand to assist you during the process if required. I didn’t have any problems during signup and completed it within minutes. XTB also provide this service if you are a looking to buy and sell cryptocurrencies. PsyQuation is an advanced data analytics platform that uses highly sophisticated algorithms to analyse your own individual trading style and find areas for where you could improve.
Generally, the spreads offered by Axi are competitive or in line with what you will find on other sights. For example, the average spread for EURUSD in a standard account is 1.24 (0.44 in a pro account). The average spread for GBPUSD is 1.73 (0.85 in a pro account) and for AUDUSD 1.32 (0.42 in a pro account). The company is regulated by ASIC in Australia and the FCA in the UK. Axi clients can trade on the fly thanks to the native MetaTrader 4 mobile applications for Android and iOS. This gives you full control over your Axi trading account and allows you to stay up-to-date with the latest market trends.
Investments, Products, and Instruments
With CFDs, traders get the chance to speculate on the rise and fall of prices for fluctuating financial instruments like stocks, currencies, and commodities. Since this platform was created by Forex traders, it is only natural for it to offer Forex trading to its clients. At AxiTrader, traders are presented with all the features they could possibly need. There, you have a choice from a broad range of 80 currency pairs, including widely used currencies like GBP, USD, EUR, and JPY.
Founded in 2013, Trading Pedia aims at providing its readers accurate and actual financial news coverage. Our website is focused on major segments in financial markets – stocks, currencies and commodities, and interactive in-depth explanation of key economic events and indicators. At Axi, customers have a choice from a healthy range of banking options they can use to deposit and withdraw. You can fund your account with debit/credit cards by Visa, Maestro, JCB, and Mastercard, Skrill, Neteller, bank transfers, and broker-to-broker money transfers.
Key Pros and Cons
Axi relies on the third-party platform MetaTrader 4 (MT4), developed by the Russian company MetaQuotes Software. This enables clients to trade across a wide range of devices including Mac computers, iPhones, and Android-based smartphones and tablets. Because of this, the cryptocurrency is subject to considerable swings in prices.
TradingPedia.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Trading forex, stocks and commodities on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. Seasoned traders who are already well-versed in working with the MT4 software can set up a live account for free.
These are the ECN instant trade order and Non-Dealing desk execution. Axi does lack a few CFD trading services such as stockbroking and Shares CFD services. This means that you will need to find a share trader provider in addition to Axi as your CFDs provider. Those looking for an all-in-one trading experience may want to consider some of the larger brokers such as CMC or IG.
Besides competitive trading costs, Axi offers traders the third-party trading analysis platform PsyQuation. It can help traders improve their performance, which I find an excellent tool. Axi also uses the PsyQuation score for its AxiSelect program, which funds talented traders with capital, a rare and unique feature. Axi offers very raw spreads, fair commission fees, and there are no additional fees on top of overnight financing charges. Also, there are no non-trading costs, which is a beneficial feature for traders. Axi and Pelican Exchange Limited have jointly developed a dedicated copy trading app customers can download for free from Google Play or the App Store.