Axi provides traders with 50 currency pairs, six cryptocurrency pairs, 20 commodities, and 31 index CFDs. Equity CFDs are notably missing, which is a negative in my book as I trade them, but Forex traders have a good selection. Axi offers some of the best swap rates industry-wide, something I urge traders to consider who keep positions open overnight, as it makes a notable difference. Axi does charge an inactivity fee, which adds to the excellent cost structure. Here is a screenshot of the Axi MT4 Pro trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Trading on AxiTrader PRO account, you will receive a reduced spread and a commission charge will occur based on the base currency of your trading account and the size of your trade.
There are educational articles in the ‘Markets Blog’ section as well, which are up-to-date and well-written. We liked the market analysis section, which can be found on the website under ‘Markets Blog’. You can search for products easily by typing the name of the product or by navigating the category folders. Verify your identity and residency by uploading either a copy of your ID card, driver’s license or passport, and uploading a copy of a recent utility bill or bank statement.
What I will offer you is a full-fledged review of this broker. I will share with you my diligent four-step investigation and testing, which spanned several months. Create your login via the Axi website, you will be asked for your name, email address, country of residence, phone number, and whether you want an individual, joint or company account.
AxiTrader platforms do not require upgrades as the service delivers them with their most powerful versions. It uses MetaTrader 4 as its dominant trading platform, and this standard approach helps it attract retail traders. AxiTrader doesn’t have a minimum deposit requirement for trading with them; it’s free to open a demo account for 30 days and if you upgrade to a permanent live account you aren’t required to pay a deposit. What is inspiring to see are the thousands of positive AxiTrader reviews online. It takes something a little bit special to encourage a person to put the effort in to actually sit down and write a positive review, which takes effort, so that’s a good endorsement of the business.
This largely depends on your financial situation, objectives and needs and therefore would be classified as personal advice. I am only licensed to provide general advice and therefore cannot help you make this decision – it’s entirely up to you. In my view, it doesn’t really matter since there’s no access to Forex on Saturday and Sunday anyway. However, you can always call up AxiTrader and discuss this with them if you require more info. I have worked for brokers, I have worked with brokers, I have liked some, I have hated others, but never has any broker satisfied all my quality criteria. And that’s not all – it also adds news feeds, helps you analyse your trades, and more.
Trader communities of the platform will be rebranded accordingly. Customer service at AxiTrader is important; they offer 24/5 customer and platform support; they also have dedicated Account Managers that tornado vs flask provide personalized service to their customers. They’ve won service excellence awards, with the most recent one being from compareforexbrokers.com.au as the 2018 Best MT4 Provider Award recipient.
But if you combine the two – deeper knowledge and demo account experience – you’re more likely to become better at trading than if you’ve only chalked up one of those experiences. AxiTrader has its pros and cons, but it is a reliable and trustworthy broker, especially if you are interested in spread betting. We encourage you to get started at AxiTrader on a demo account and then move on to live trading. Our mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers.
Further, the trading platform also offers several trading packages like MetaTrader 4 NextGen add-on for users who make a min deposit of $1000. Users need to open an account with AxiTrader which offers fast execution. The Axi blog also features high-quality educational articles, and I can only recommend that traders of all levels take a look, as there is plenty of thought-provoking content. Five eBooks are also available free of charge, but Axi asks for a name, country, phone number, and e-mail address. They are required for opening an account, and therefore not an obstacle to new clients. The video library consists of eleven courses, consisting of numerous lessons.
Who is the best forex mentor?
- The Forex Trading Coach.
- Asia Forex Mentor.
- Forex Mentor PRO.
- Vladimir Ribakov.
- Clay Hodges.
- Chris Hunter.
It is quick and easy to install, full of functions like charts, alerts, and analysis to help you keep pace with the market, in real-time. AxiTrader mobile trading app connects your main MT4 trading terminal to give you trading flexibility to the maximum. You can follow all the ups and downs with real-time updates by viewing live pricing. You will be able to modify your trades by just swiping your screen and you can view your past trading activity fast and easily with the help of the Past Orders feature that pulls up your historical data. Axi MT4 Forex Trading Signals enables you to access thousands of ready-made trading strategies.This platform places trades automatically and has simple execution.
MT4 Standard Account offers 80 currency pairs, no commission, no minimum deposit, free setup, and download. It is designed for fast and simple execution with the use of MT4’s one-click trading. With this account, you can track your progress with comprehensive trade history and analysis. AxiTrader has invested in co-located servers and fiber optics for faster, more accurate trading with its advanced technology.
MT4 Pro Account
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. Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. On the negative side, the broker only has a small range of products, which are forex instruments and some CFDs.
AxiTrader’s customer support team was helpful and provided direct and relevant answers to our questions, but not at all times. On our first interaction with the customer service team via live chat we received an inaccurate answer to our question. AxiTrader trading platform provides its customers with a wide range of options like more than 80 currency pairs, and over 140 cross pairs.
Can I trade forex without a broker?
You can never completely remove the middleman but you can exchange currencies offline or through banking apps, taking part in the same exchange. You can, for example, go to your local bank and convert South African Rands (ZAR) for Euros, US dollars, and other currencies.
In addition to all this, they have a great support system and a comprehensive provision of education. The general education videos section has good quality video files you can watch for topics like trading psychology forex brokers and the basics of forex trading. There is an option to download and read the many high-quality eBooks that they provide. News is essential to a trader because it drives the price by influencing the market sentiment.
Axi offers trading on a good range of commodities, including gold, silver, platinum, petroleum, and soft commodities such as coffee, cocoa, and soya beans. Axi Customer ServiceYou can contact AxiTrader via email, and live chat. We waited for 1-8 minutes before being connected to the customer service team via the live chat function. Axi’s educational articles are grouped according to the relevant trading topics making it easy for traders to find information on specific topics. The broker provides some market analysis on its blog, but the information is not frequently updated to keep up with market events. We consider the FCA regulation to be the best since it provides compensation of up to £85,000 in case the broker goes bankrupt.
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The brand also promotes the security of funds of its clients wherein the funds of the customers are segregated from their own company’s funds. It has gathered various awards including as the most trusted Forex broker. As a broker who works internationally, the AXITrader opted for the standardized MT 4 platform which is preferred by Australian as well as UK clients. The simple trading software is well equipped for beginner and professional needs.
This is also something to look forward to when trading with AxiTrader. It is not recommended to use as a basis for an offer to buy or sell or the solicitation of an offer to buy or sell any kind of product, whether security, financial, or any type of instrument. Every trader is unique and you should know by yourself which works for you.
We can say that these awards can serve as proof that trading with AXI is secure and that the company has an excellent service. AXI is la legit and trusted broker that understands traders needs. The information on this site may be accessed worldwide however it is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. Trading Forex is risky, and each broker is required to detail how risky the trading o offering of the broker, and the trading conditions offered to clients, which are summarised in this review. We were impressed to find that both Axi’s minimum deposits and ongoing trading costs are significantly lower than most other brokers. Now I am passionate about reviewing and comparing forex brokers.
Why do I keep losing money in forex?
Overtrading. Overtrading – either trading too big or too often – is the most common reason why Forex traders fail. Overtrading might be caused by unrealistically high profit goals, market addiction, or insufficient capitalisation.
Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission-based Axi Pro account. AxiTrader is a STP broker which provides 2 types of account, Standard account and PRO account. Your latest withdrawal request has already been sent to your bank account on 28th of January 2022. The general educational videos have great quality and cover a lot of topics, like trading psychology and forex trading. However, the news section lacks charts and other visual elements.
You cannot set your alerts and notifications when using the AxiTraderweb-trading platform because that feature is only available when you are using the desktop app. It is very customizable, available in multiple languages and gives clear fees reports. It does not require a two-step login and does not provide price alerts.
AxiTrader Comes With These Additional Features
At AxiTrader, such information can be read in a number of documents, including information documents on investment products, for example, on the Forex market (section «Legal Documentation»). It is worthwhile to study it and other materials before registering on the website axitrader.com. It is crucial for users to know more about the organizations that control AxiTrader operations.
Also, the quantity of news differ from language to language – for example, news in Spanish only seems to be updated once a month. Similarly to the web trading platform, Axi provides only a one-step login.A two-step login would be safer. Forex fees at Axi are low.For Pro accounts, there’s a $3.5 charge per traded lot, and a low spread cost.
Open a Free Demo Account at AxiTrader
The presence of a demo account at any brokerage company in many respects predetermines the further success of its users. The choice of assets comfortable for trading, «testing» of various trading strategies that allow to get real profit and minimize possible losses – all this is possible on a demo account. Thus, the AxiTrader website constantly broadcasts morning video reviews of the market and weekly Forex forecasts. The broker offers profitable and functional trading on forex and other markets in an advanced terminal, bonuses, tight spreads, etc.
All Axi subsidiaries offer negative balance protection and segregate client deposits from corporate funds. I can highly recommend Axi, particularly the unit operating out of St. Vincent and the Grenadines, due to it. Be very careful with this broker, it takes advantage of moments of high volatility to create gigantic candles with gigantic spreads capable of breaking an account. While in other brokers we have a candle of 3000 points, and spread of 3000 points , in AXI the same candle is left with points and spreads of points, making your margin explode… Too bad it exists brokerages in order to break their customers. Please note that if you withdraw via Bank Transfer, it may take up to 1 -3 business days to receive funds.
Users need to maintain the minimum margin requirements in their accounts. AxiTrader provides negative balance protection for forex spot and CFD trading. This facility is applicable only for customers from the European Union. 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.
For this purpose you need only a smartphone and Internet connection. With the exception of the bank wire option, all these payment methods are usually completed within 24 hours of initiating the transfer forex day trading vs swing trading and most incur no fees. In any case, risk warnings are present all over the website on the subject of margin and leverage trading so the ultimate decision to trade or not sits with the individual.
It scans markets continuously, identifies opportunities, and informs traders of the same. The spread of the standard account type starts from 1.0 pips with no commission. This means it offers products from MetaQuotes Software Corporation, developers of the popular Meta Trader platforms. Since AXICorp is situated in Australia with its headquarters in Sydney, AXITrader regulation is carried out by the ASIC.
Feel free to try Axi, as its trading fees are low and there are no deposit or withdrawal fees. Axi has some drawbacks, though.Its product range is limitedto forex and CFDs, and its research tools lack recommendations and fundamental data. Professional and non-EU clients are not covered by negative balance protection. Axi has a great mobile trading platform, we really liked its design and user-friendliness. After you download the MT4 mobile trading platform, you have to access the Axi-Live server.
Axitrader is not a scam but voted timelessly for its trustworthiness, with low-risk Forex trading. The broker has market-competitive spreads across a wide range of commodities, currencies, and indices. During liquidity, the spreads fall lowest to 0.0 pips, and AxiTrader adheres to ensure that the costs stay competitive. This regulatory suspension, however, has no impact on the international clients that AxiTrader LTD operates.
Due to its regulatory compliance and best practice implementation, AxiTrader stays compliant across multiple authorities. A review conducted on the said regulated service proved that AxiTrader is completely legit under St.Vincent’s authority and the Grenadines Commercial Intellectual Property Office. AxiTrader is not replicated by the country’s regulator – the Financial Services Authority.