Many traders also share their strategies that you can use for your own results. If your criteria for joining a broker are security and advanced tools, then Axi is a good fit for you. However, withdrawals via bank transfer may take 1-3 business days to process. Additionally, there is no minimum amount to withdraw except in a few countries; still minimum is no more than $50, and some payment methods and countries need a $5 minimum amount to withdraw. However, the trading fees rely on the account you signed up like a pro account, and standard accounts different fee structures. On the other hand, the Pro account charges commissions as well as raw spreads.
I had a browse and managed to find some helpful insights for managing my open positions. You will find a good choice of trading tools that can be used for assisting with your trading. I like that they are providing signals, chart analysis, multiple account management and more.
- Even the education part is outsourced to the PsyQuation Premium platform that alerts you to mistakes while trying to make you a better trader.
- Practice caution and see financial advice when unsure because what we offer here is NOT financial advice.
- In addition to operating on these third-party apps, the Axi trading platform also runs its own dedicated copy-trading app, which is available on the Apple and Google Play stores.
- Deposits to an account on the Axi Trading platform are usually subject to deposit fees, though the deposits have to be above certain limits to warrant these charges.
- CFD fees are not so high either; for CFDs, the trading fees are average.
I was impressed with the additional trading tools for conducting in-depth market analysis, especially Autochartist. You can quickly and easily fund your account with a variety of convenient options to choose from. If you are beginner then you will be happy with the plethora of educational content available at no extra cost. You can also practice trading online with a free demo account or in a live environment with a minimum deposit of just $1.
Axi User Benefits
However, I would like to see them add the MetaTrader 5 platform. The fact they are well regulated gives me peace of mind so I can focus on my trading. You can trade a great selection of instruments across multiple asset classes with top class trading conditions.
For advanced traders, the Axi platform offers a professional account with a suite of advanced features, including MT4 VPS hosting and signal providers. This type of account comes with a round trip commission of $7, spreads from 0.0 pips, no setup fees, and a minimum lot size of 0.01 lots. Traders can open the account directly or upgrade from a standard account. The site navigation is very nice and offers the best graphical user interface, which makes it ideal for all forex traders. Their trading platforms extend MAC and Windows PC and mobile trading tools like smartphone devices such as the iPhone and Android phones and iPad and Android. Traders can make use of the Autochartist and Myfxbook Autotrade, which is a social-based trade community.
- These rules limit the amount of leverage offered to EU clients and the way in which financial services are promoted.
- CFDs for indices enable traders to speculate on the basket of underlying assets’ prices easily.
- These liquidity pools consist of 14 of the world’s leading banks.
- Additionally, the platform provides bilingual customer service by phone, and you can call them on any of their lines depending on your location.
- Overall, I can confidently rank Axi as one of the best Forex brokers operational today.
The FIX API is great for those who need an institutional trading environment. This probably won’t be required by the average day trader but if you are using a strategy that needs the lowest spreads and quickest axi review execution possible, this could be a solution. However, it is quite complex and therefore catered more towards professional traders. I think that most of you would prefer the intuitive MT4 interface.
Axi Minimum Deposit, Withdrawal and Deposit Options
Myfxbook Autotrade is a one-of-a-kind social and copy trading community programme that encourages collaboration and idea-sharing. It accomplishes this by linking forex traders to their forex trading accounts. Users may follow other traders or enable other traders to follow them by linking to Myfxbook. You may link your mobile device to the trading platform via the MT4 mobile platform.
I have used MT4 for many years and it is still my platform of choice, even though MT5 is the newer version. Axi UK must comply with the rules of the European Securities and Markets Authority (ESMA) when they are conducting their business. These rules limit the amount of leverage offered to EU clients and the way in which financial services are promoted. If you want higher leverage then you would need to look at the international brand. We provide broker reviews and ratings to help users find a suitable broker according to their own needs.
However, it’s worth noting that Axi’s license was suspended by the Financial Markets Authority in New Zealand on July 29, 2019. We are showing the fees based on a week long $2000 long position on two different indices. “Created by traders, and for traders” is a mission carried by Axi since its foundation in 2007. Axi had the strongest brand association with being “trustworthy” among current FX Traders in December 2014.
Axi Review 2023 Quick Summary
The conversion fee is the exchange rate plus a markup obtained from liquidity providers. These are charged based on trade volume (though, they are sometimes fixed); The higher the volume of your trade, the higher your commission. For instance, Axi charges a commission of $3.50 per standard trade lot (which makes a $7 round-trip charge). However, if you use a standard account, you won’t be charged a commission. Crypto assets are highly volatile and tend to present higher and more constant risk than forex pairs, but Axi keeps a pretty decent portfolio of such assets for interested traders.
Axi processes withdrawal requests within one to two hours, ensuring traders get swift access to their capital without complications. There are no internal fees, but third-party processor costs apply. I recommend traders check with their preferred one to ensure the most cost-efficient method. Traders must request withdrawals from the secure client portal, and the name of the Axi account must match the one on the payment processor or bank account.
They also have an impressive selection of over 12,000 financial instruments to trade. Made a deposit by bank transfer and within a day it was booked on my trading account. But waiting now for more then a week to see it on my trading account. After third time contact help desk (different member) it’s not clear where my money is. It give me the feeling they don’t care I’m loosing money on there poor service.After a bad review on this site finally there been some action.
However, more advanced traders may find the overall asset selection limited. To help ensure you have more money left to trade with, Axi charges no fees for funding and withdrawals to or from your trading account, up to a value of $50,000 per month. If you exceed this monthly Fee Free Limit, they do reserve the right to pass on your Neteller and Credit card transaction fees.