Axi, an Australian forex broker established in 2007, was formerly known as AxiTrader. In 2020, the “Axi” brand was introduced.
The Dubai Financial Services Commission, the Australian Securities and Investments Authority, and the UK’s Financial Conduct Authority are just a few of the regulatory agencies that oversee Axi globally .The fact that Axi is governed by numerous awards agencies is a sign of its security.
Axis is low spread forex brokers offers low trading commissions. Two different account types with various pricing structures exist. In this assessment, we tried the Pro account, which offers minimal spreads and levies a fee on trades.
We contrast Axi’s fees with those of TMGM and Nightcap, two brokers we found to be comparable. This decision is made based on objective criteria, including the items offered, the type of clients, the pricing schedule, etc. View a more thorough list of alternatives to Axi.
Pros and Cons of AxiTrader
AxiTrader is a trustworthy broker with excellent FCA and ASIC regulations. AxiTrader offers a selection of trading platforms, several funding options, typical spreads, and upper customer service.
The only available instruments are Forex and CFDs, and there is no suggestion for courses for beginners’ education.
AxiTrader, is it controlled?
AxiTrader is one of the best forex apps not a scam and offers low-risk Forex trading. It has consistently received positive reviews.
The Financial Conduct Authority and the Australian Equities & Investments Council, the two main regulatory organisations, have approved and are in control of AxiTrader.
Trades should only be made with open suppliers, which can only be licenced brokers, due to the significant risk involved with over-the-counter futures.
In this instance, the client’s cash is protected by compensation plans and maintained in isolated accounts with reputable banks. Executions and trader manipulations are fully encrypted and compliant with operating standards, just like all online transactions.
The company’s whole range of trading options, including Forex, commodities, CFDs, and indices, may be accessed from a single MT4 terminal by a client. Bitcoin and other cryptocurrencies can also be traded similarly to traditional currencies. The broker offers access to the most challenging trading marketplaces, and UK residents can use the Spread Bet option.
Types of accounts
The two different AxiTrader account types are MT4 Standard Account and MT4 Pro Account.
If you’re new to trading and want to hone your abilities before engaging in actual trading, you may open a free 30-day trial Demo account with a virtual cash balance of £50,000.
Traders who follow Muslim Sharia law have the choice of opening a Swap Free Account that is exempt from Swap Fees on FX Major, FX Minor, and Metals Symbols.
AxiTrader pricing varies based on the needs of a trader, whereas Give a similar fees are incorporated in the rates and start at one pip for Basic Account and 0 pip at Pro Account.
Another cost you should keep in mind while trading is a swap fee, which is a modification that represents the comparative difference in interest rates or yield on the underlying securities. On long trades, AxiTrader charges swap fees; on short positions, it reimburses them.
Axi is one of the best forex apps offers the Situation trading analytics technology in addition to Autochartist. It can help traders reduce errors and help them improve as traders. I appreciate that Axi makes efforts to increase the success of its traders. I value API trading at Axi as an algorithmic trader since it enables me to integrate the latest trading tools into the Axi trading environment. VPS hosting is also an option.
Social traders can use Myfxbook Autotrade or the built-in copy trading tool in MT4. I also want to draw attention to AxiSelect, a unique program that provides up to $350,000 in funding for gifted traders. At Axis, the Axi Community completed a great selection of value-added services to encourage better traders.
Education and Research
Most of Axi’s research information comes from Autochartist, although the site also includes a weekly market review. It has charts with simple-to-understand trading strategies and is well-worded.
The Axi blog also includes excellent educational articles. I can only suggest that traders of all experience levels take a look because there is a lot of stimulating material there. Axi also offers five free eBooks, but in exchange, it wants your name, country, phone number, and email address.