Is Axi Scam? | Axi Safety and Reliability

Pros

Cons

  • 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

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.

Is Axi Regulated?

The Axi broker is regulated by many financial authorities in different countries like:

  • FCA: the Financial Conduct Authority in the UK
  • ASIC: the Australian Securities and Investments Commission

Is Axi a Scam?

Axi has a long tracking record of 14 years in the trading market. It passed many financial disasters up till now. Axi is also trusted by more than 60,000 clients from 100 countries. On the other side, Axi is not listed on the stock exchange.

Client Protection

Axi has client protection amounts under some regulators in order to protect its clients’ funds if anything goes wrong. Axi also holds a comprehensive Client Money Insurance policy that provides its retail clients with protection up to US$1,000,000. This insurance coverage comes at no additional cost to you and automatically applies to all retail accounts with balances above US$20,000.

Axi Legal Entities Table

Country

Protection amount

Regulator

Broker’s Legal Entity

The UK and the EU

£85,000

FCA

AxiCorp Limited

Australia

No protection

ASIC

AxiCorp Financial Services Pty Ltd

Negative Balance Protection

Luckily, Axi has negative balance protection to protect your balance in your account from going beyond zero.

Two-step Verification

Fortunately, Axi has a two-step verification method while logging in.

Axi Awards

Since its foundation in 2007, Axi was awarded several awards like:

  • 2020:
  • Best EMEA Region Broker in the ADVFN International Financial Awards
  • 2019:
  • Best Forex Broker Middle East by forex-awards.com
  • Best Forex Broker Europe by forex-awards.com
  • Best MT4 Forex Broker by atozmarkets.com

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 allow scalping and hedging?
  • Yes.
  1. Where is my money held?
  • In segregated bank accounts far away from Axi’s own funds.
  1. When trading forex, will you lose more than your initial deposit?
  • The 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.

 



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