Axi (AxiTrader) Review 2022 - The Good and the Bad

Updated May 16 2022

Axi (AxiTrader) Review 2022 - The Good and the Bad

Axi (AxiTrader) in a Nutshell

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74.1% of retail CFD accounts lose money.

🏛 Regulators ASIC, FCA, ADGM, SVGFSA.
💳 Minimum Deposit ($) 0
💰 Payment Methods Credit Card, Debit Card, Bank Transfer, Neteller, Skrill, Sofort, Giropay, iDeal, Polish Internet Banking, Global Collect.
💵 Base Currencies 10 - AUD, CAD, CHF, EUR, HKD, JPY, NZD, PLN, SGD, USD
📚 Assets Offered

CFDs on stocks, commodities, currencies, cryptocurrencies, indices and ETFs.

📙 Stocks 50
📘 Currency Pairs 140+
💸 Cryptos 11
💪 Retail Leverage Up to 1:30
💪 Pro Leverage Up to 1:400
✍ Custom Leverage Yes
🎲 Deleveraged Trading No
🎓 Demo Account Yes
💰 Commissions

Yes depending on account type (Standard: Zero, Pro: $3.50 per lot, Elite: $1.75 per lot)

Compare Axi (AxiTrader)

Vs.

Axi in 60 seconds

Axi is an Australian broker founded in 2007 that, above any other assets, specialises in currency trading through MetaTrader 4 platform.

Axi Full Review

Here’s what we’ll talk about during our review: 

Is Axi safe?

Axi (AxiTrader) is a safe and regulated broker thanks to 3 of their 4 financial licenses, let’s go over each of them:

From the above list, only the first three financial licenses (FCA, ASIC, AGDM) are considered high tier. On the other hand, their SVGFSA licence is considered a low tier one.

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

3

Other Licenses

1

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The previously mentioned facts combined with our research on Axi’s user opinions and online reviews still grants them a safe broker status.

Axi Minimum Deposit and Withdrawal

Axi (AxiTrader) has no minimum deposit requirement. Here are their deposit and withdrawal methods:

Base Currencies

Axi allows its customers to hold their main balance in the following currencies:

Compared to similar competitors, Axi has a great base currencies offering.

Another important point to mention is that during our review process, we felt some discomfort when trying to open an account, as they don’t grant you immediate access to a client area but rather make you complete the full registration process (the lengthy version) in order to then wait for your account and documents to be reviewed so you can finally gain access to their web trader which is integrated with the client area at the same time.

Another interesting point is that the Demo version is held separately from the live, meaning that just because you opened a Demo account, it doesn’t mean that you’ll be able to do much on Axi's website. In fact, you must log in through the email they sent you with your password credentials to be able to access your Demo account.

Axi Account Types

Besides the traditional European distinction between professional and retail traders, Axi (AxiTrader) offers three different account types, let’s check out their main differences:

Standard Account Pro Account Elite Account
Spreads from 0.4 Pips Spreads from 0 Pips Spreads from 0 Pips
No commissions $7 per lot roundtrip $ 3.5 per lot roundtrip
No minimum deposit No minimum deposit $25,000 Minimum deposit

One very important point to note is that their Elite Account is only available to Eligible Professional clients in Europe, for the rest of the world where Axi can provide services anyone can register assuming they have the minimum deposit requirement.

Axi’s Pro account is definitely at the same level as most of their similar competitors. The real strong advantage is their Elite account which definitely outranks any other FX commission offer out there with a $3.5 per lot round turn offer. The only issue is of course, being able to afford the $25,000 minimum deposit to get such conditions and also being an eligible professional client if you’re located in Europe.

Axi Trading Fees

Axi (AxiTrader) charges spreads, overnight fees, commissions (depending on your account type) and inactivity fees. Let’s go through their main charges in more detail:

Spreads

Asset Axi (AxiTrader) Pepperstone Blueberry Markets
EUR/USD SpreadDynamic - From 0 to 1.4 PipsDynamic - From 0 to 0.77 PipsDynamic - From 0.1 Pips to 1 Pip
SP500 SpreadDynamic - From 90 PipsDynamic - From 0.4 to 1.5 PipsDynamic - From 50 Pips
Gold SpreadDynamic - From 20 PipsDynamic - Average 13.81 PipsDynamic - From 10 Pips
TSLA SpreadDynamic - From $1.45Dynamic - Market SpreadDynamic- From 18c
XLK SpreadN/ADynamic - Market SpreadN/A
BTC SpreadDynamic - From $40Dynamic - From $30Dynamic - From $12

Axi offers dynamic spreads in all their accounts (meaning that they constantly change) yet they do adjust their base offer depending on the account type a trader opens.

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.

When it comes to spreads Axi’s spread for the currency pair EUR/USD was mostly floating at around 1.4 Pips whereas in other competitors, it was at 0.6 Pips on their standard accounts.

The main advantage in Axi is definitely opening a Pro account to gain access to the low spreads with a $7 round turn commission accompanied by spreads from 0 Pips or the elite account for ultimate trading conditions.

Commissions & Fees

Here is our comparison of Axi (AxiTrader)’s commissions against some of their most well-known competitors:

Axi (AxiTrader)PepperstoneBlueberry Markets
Commissions

Yes depending on account type (Standard: Zero, Pro: $3.50 per lot, Elite: $1.75 per lot)

  • For Standard account : All fees included in the spread
  • For Razor account: From $7 per Lot round turn

Yes, depending on account type:

  • Standard account has no commissions
  • Direct Account has a commission of $3.5 per lot

In conclusion, what causes a great impression from Axi’s offer is definitely their Elite account offering which comes at the heavy price tag of $25,000.

Axi Available Assets

When it comes to available assets, Axi is definitely outnumbered by the majority of brokers out there. See the below table for Axi’s asset comparison against some of their most well-known competitors:

AssetAxi (AxiTrader)PepperstoneBlueberry Markets
Stocks501,300 +250
Currency Pairs140+6045
Commodities14315
Indices142511
ETFsN/A100N/A
Cryptocurrencies11205
BondsN/AN/AN/A
OptionsN/AN/AN/A
FuturesN/AN/AN/A

Axi (AxiTrader)’s asset offering is clearly designed for high net worth forex traders. With over 140+ currency pairs and their killer Pro and Elite account offerings, they definitely become an attractive choice for seasoned currency traders. On the other hand, when it comes to pretty much any other asset class, they’re well below their competition.

Axi Trading Platforms

Axi (AxiTrader) is a MetaTrader 4 broker. Meaning that their platform is provided by the company known as MetaQuotes Inc. They also provide their own proprietary platform only for mobile devices which allows for copy trading functionality, yet their biggest selling point is their account and commissions offering paired with MetaTrader 4.

Here’s how Axi’s web trader looks like:

Axi Web Trader

Here’s how Axi’s mobile platform looks like:

Axi Mobile Platform

A very important point to note regarding the user experience is that we had two different errors when trying to test Axi:

Aside from these two points, it’s not necessary to include a MT4 review as the platform stays the same across all brokers regardless of the brand name chosen. What changes is the account offering. 

Axi Research and Analysis Tools

Axi (AxiTrader) provides some standard MT4 additions (plug-ins) to improve a user’s research capabilities, for example:

What caught our attention the most was their integration with a service called “PsyQuation”, where traders get to use an A.I powered trading analytics platform with a touch of social trading and measure their performance, trades, risk behaviour and more. Here’s how the platform looks:

Psyquation Platform

Another interesting point of PsyQuation is that they have a Capital Allocation program in partnership with Axi where a trader can prove their skills and get funded with up to AUD$500,000 in additional trading capital and share a profit with the company.

The best part is that upon reviewing the platform, trading data was 100% open instead of being restricted to a few percentages like most copy or social trading platforms provide.

Axi Educational Tools

Axi (AxiTrader) provides the following educational tools:

The content is quite thin yet it can prove to be useful for complete beginners with no experience in the financial markets.

Verdict

Axi (AxiTrader)’s offering is quite targeted to professional currency traders thanks to their Pro and Elite account offering and their respective roundtrip commissions of $7 or $3.5 along with 140 currency pairs. 

Their integration with PsyQuation is definitely a major selling point for those looking to acquire extra trading capital and monitor the performance of other tradings in a fully transparent environment.

If you are:

Axi will prove to be quite a resourceful brokerage for you. On the other hand, if you’re looking for a variety of trading platforms and assets such as stocks, ETFs or cryptocurrencies, Axi will definitely fall short to your expectations.

Author

Stefano Treviso

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