Axi Pros & Cons | Get Information at a Glance

Introduction

AxiTrader or simply Axi is an Australian Broker that has over 60,000 clients worldwide. Axi is basically a Forex and CFD broker, and you can also trade other instruments like commodities and cryptocurrencies. Axi has negative balance protection and is also regulated by top-tier financial authorities like FCA and ASIC. Axi has high-quality educational materials as well as a demo account to help you start trading as soon as possible.

In this article, we’re addressing the main pros and cons of Axi in each broker aspect.

Axi

Pros

Cons

Safety

  • Segregated clients’ funds
  • Regulated by FCA and ASIC
  • Negative balance protection
  • Client protection amount
  • Over 14 years of trading experience
  • Over 60,000 clients
  • Not listed on the stock exchange markets
  • Doesn’t have a 2FA

Offering of Investments

  • Over 130 Products are available
  • Forex and CFD trading
  • Commodities, and crypto trading
  • No mutual funds trading.
  • Limited trading instruments

Account Opening

  • Demo account
  • Islamic account option
  • Fully digital account opening process
  • Available in 100 countries
  • No minimum deposit required
  • Slow account opening process

Fees and Commissions

  • Low commissions
  • Low trading fees
  • No deposit or withdrawal fees
  • No inactivity fees
  • High CFD fees

Deposit & Withdrawal

  • Various deposit and withdrawal methods
  • Free deposits and withdrawals
  • Various base currencies
  • None

Platforms and Languages

  • Available on MT4, ZuluTrade, signals, and MyFXBook
  • Available on Windows / Mac / Web / Android / IOS
  • Order confirmation
  • Customizable charts
  • Available in several languages
  • Easy to use
  • Ability to social trade
  • Good searching functions
  • Notifications and price alerts on Desktop and Mobile versions
  • Lacks two-step verification
  • Old desktop design
  • No price alerts in the web version

Research Tools

  • Good News Feed
  • Good charting tool
  • PsyQuation tools
  • No fundamental data
  • No trading ideas

Customer Service

  • Live chat
  • Email support
  • Phone call
  • Only 24/5 support

Education

  • Guides
  • Ebooks
  • Blogs
  • Tutorials
  • Webinars
  • Events
  • Demo Account
  • None

FAQs

  1. How long does it take to verify my account?
  • It takes about 2 to 3 business days to verify your Axi account.
  1. Can I open more than one trading account?
  • Yes, by logging into the Axi Client Portal and selecting New Trading Account. You will be able to set the account type, and currency before you submit your request.
  1. Does Axi allow bot trading?
  • Yes, through Expert Advisors (EAs).
  1. Does Axi give a bonus?
  • Axi Broker offers a $50 No Deposit Bonus to start live Forex without any initial investment.
  1. Does Axi allow scalping and hedging?
  • Yes.
  1. Where is my money held?
  • In segregated bank accounts far away from Axi’s own funds.
  1. How to enable the swap-free option in my account?
  • Simply contact Axi’s Client Services team and they’ll help you through the process. Please note that approval to open an Islamic trading account is the sole discretion of Axi.
  1. How do I log in using the MT4 mobile platform?
  • Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

  1. When will my demo account expire?
  • After 30 days.
  1. When trading forex, will you lose more than your initial deposit?
  • MetaTrader 4 is set to automatically close your positions when your margin requirement reaches 100% (stop out level).
  • Please note that this process is automated and does not guarantee that your account will not enter into a negative equity situation. You should keep a balanced amount in your account above your required margin.
  1. Can I log in to more than one account from the same computer?
  • Yes, you can do such a thing by using the MT4 Multi Terminal.
  1. Can I log in to the same account through different devices?
  • Yes, you can log in to the MetaTrader 4 platform using the same password and username through different devices.
  1. Does Axi accept payments from third parties?
  • Payments should be from an account that holds the same name as yours.

If you want more information, please check out Axi Full Review.

 



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