An Introduction to Axi
Axi (formerly AxiTrader) full review for trading in February, 2024, is Axi the right broker for you? Let us help you to decide, with our in-depth traders’ guide and review of Axi.
Axi is an Australian-based forex broker which prides itself on the motto “Trade your edge”.
Axi, formerly AxiTrader, initially began as a two-person startup back in 2007 but has since evolved into one of the world’s biggest global forex brokers, currently covering more than 100 countries across the globe.
The main offerings from Axi include forex trading and CFDs on currency pairs, commodities, indices, precious metals and cryptocurrencies.
Since 2007, Axi has become one of the largest brokers in Australia. It has also branched out internationally, with large scale operations in the UK and Asia Pacific. The Axi London branch opened its doors in 2012 and its China branch in 2015. In 2016 they then expanded even further to countries in Latin America, the Middle East and Germany and in 2018 added Dubai, New Zealand, Singapore, Cyprus and the Philippines.
Any reliable Axi forex broker review would start by mentioning that the broker serves more than 60,000 clients worldwide and generates a monthly trading volume of over $100B, making it one of the largest brokers in the world.
Capitalising on an excellent track record of customer service, Axi has developed a host of specific features that traders often request. For example, they offer clients the MetaTrader platform with the premium add-on MT4 NexGen, very competitive tight spreads, fast order execution, social-copy trading options and minimum slippage. The Axi services also include exclusively ECN trade execution.
For their continuous efforts and high-quality services, Axi is within the family of the world’s multi-award winning brokers. In 2018 alone they received the following distinctions: Most Trusted Forex Broker – UK Forex Awards and Best MT4 Provider – UK Forex Awards.
Safety and Regulation
One of the top requirements that a reliable forex broker should always meet is the security of their regulations and the safety of their funds. The world of finance is active territory for scammers and shady companies, and hence working with a well-regulated broker is an absolute must.
Axi is licensed by the following authorities:
- Financial Conduct Authority (FCA) in the UK. License number FRN: 509746 for AxiCorp Limited
- Australian Securities and Investments Commission (ASIC) in Australia. License number AFSL No. 318232 for AxiCorp Financial Services Pty Ltd
- Dubai Financial Services Authority (DFSA) in Dubai. License number F003742 for AxiCorp Financial Services Pty Ltd
- Financial Markets Authority (FMA) in New Zealand. License FSP number 518226 for AxiCorp as a derivatives issuer and Axi as a financial services provider
As part of their responsibilities as a regulated entity, on their website, Axi has published a series of legal documents which provide all the details related to their services and trading activity.
Among these documents, you will also find product disclosure statements, product schedules, client agreements, execution policies, spread betting agreements and more.
To ensure the safety of their clients’ funds, Axi uses segregated accounts to top tier banks – meaning the funds belonging to clients are held separately from the company’s accounts. That means that in the case of financial struggles or if the company faces bankruptcy issues the clients’ funds are not affected.
European retail clients of Axi also benefit from the coverage of the Financial Services Compensation Scheme for sums of up to £85,000, and from negative balance protection. Essentially this means a trader cannot lose more money than the amount deposited in his trading account for CFDs and Forex spot trading.
It is worth noting, though, that Axi doesn’t hold a banking license and is not listed on any stock exchange. Consequently, the financial statements of the company are not made public.
Taking into consideration the number of regulators that authorise activity from Axi, they can be objectively considered a safe and trusted broker, their FCA licence details can be found here.
It would be remiss of any Axi broker review not to note that they offer a comparatively limited range of products, consisting mainly of forex spot and CFDs. However, they do offer a significant collection of forex pairs and overall their range includes over 100 instruments, including forex currencies and CFDs on precious metals, commodities, indices and cryptocurrencies. Axi does not offer the option to trade stocks and ETFs.
The most interesting things to note about the Axi product line up, are the low margins requested to trade and the low fees. Axi also gives you the option to modify your leverage as per your convenience. This is a great feature if you need to reduce the risk you are willing to assume on a certain trade for whatever reason.
The financial products included in the Axi offer are:
- Forex – 80 currency pairs, majors, minors and an extensive collection of exotic pairs.
- Indices – CFDs on most prominent 11 indices (including China50), with request margins of just 1%.
- Commodities – over 22 CFDs on energies (oil and gas); precious metals (silver and gold) and soft commodities (coffee, cocoa and soybeans. Some of these products offer margins starting at just 1%
- Cryptocurrencies – CFDs on 6 cryptocurrencies including Bitcoin, Etherreum and Ripple. Retail clients can trade with a leverage of 1:5 and with a tax exemption (applicable for Australian clients only). Professional clients may profit on leverage of 1:10
Since the Axi product offering is not overly large, sophisticated traders and investors might prefer other brokers with a wider offering, if your focus is specific to forex, Axi have a very strong offering.
Axi Spreads and Faster Execution
A source of pride for Axi is the low spreads they offer. Thanks to using ECN networks and connecting their clients directly with global liquidity providers (20 prominent multinational banks) without the interference of a dealing desk, Axi is able to sustain a reduced level of spreads which is the envy of most brokers on the market.
Axi is committed to investing heavily in network technology to drastically reduce latency (the interval of time elapsed from the moment of launching an order on the market until it is executed). Minimised latency results in faster execution of trades, better prices, higher liquidity and fewer outages.
Investing in cutting edge technology helps optimise the route your trade takes from the moment you place it until it is executed. Axi is always striving towards speeding up the capability of the client’s MT4 interface, thus enabling orders to be executed at an impressively fast rate.
The leverage offered by Axi reaches the maximum levels available on the market; 1:400. This level of leverage is a feature offered by very few brokers and is accessible largely depending on the region of the globe you are trading from. For example, EU clients (retail) cannot access 1:400 leverage as the FCA regulations allow maximum leverage of 1:30 for retail clients.
Clients outside Europe on the other hand, for example, those falling under the regulation of the Australian Securities and Investments Commission (ASIC), can use 1:400 leverage.
Using such high leverage is suitable for highly experienced and skilled traders, as it inherently assumes higher risks. High leverage can heavily multiply your profits, but it will also do the same for your losses if the market turns against your position.
Axi Trading Signals
To sustain their clients’ trading activity, Axi offers trading signals via MetaTrader 4 and social trading.
In other words, you are able to see and utilise the strategies of the most profitable traders across the globe. Axi offers its clients access to thousands of trading strategies and the ability to automatically copy and place orders as per your chosen strategies.
As an Axi client, you can pick the traders you want to follow and have full control over your trades. For example, while you can copy the strategy exactly of the traders you follow, you can also deactivate automatically placed trades at any time and define your own stop losses as per your risk profile. Axi also allows you to follow strategies from several different traders and assign different allowances of capital to each strategy.
Moreover, if you are an experienced trader you can also employ the MT4 trading signals as a way to share your strategies and allow others to copy them if that’s something that interests you.
PsyQuation is a premium and sophisticated trading platform made freely accessible to retail traders by Axi. It is essentially an artificial intelligence and machine learning-based trading platform, with the purpose being to use advanced software capabilities to analyse your trading performance and style and provide you with useful insights and real-time performance analysis.
PsyQuation utilises powerful in-built indicators, frequently updated trading signals, extensive forecasting features and high-level quantitative models in order to serve its lofty purpose.
Based on strong data analytics and complex algorithms, PsyQuation analyzes your trades and your trading style and is capable of identifying your mistakes and subsequently helping you to correct them. It tracks your progress and creates a PQ Score for your performance and compares it with the scores of the leading traders. In many ways, PsyQuation could be considered a virtual personal trading coach.
As well as this, PsyQuation has several other features that could be of great interest to a beginner trader. It enables you to receive behavioural and risk alerts via email or phone, whilst also giving access to intraday charts regarding your performance. There is also the chance to potentially receive funding and mentoring through the AxiSelect program.
PsyQuation is a free tool for Axi customers.
Autochartist is a free MetaTrader plugin provided by Axi to all clients. Essentially, Autochartist is an automated tool that scans the markets continuously and performs technical analysis. The output of this analysis is the identification of trading opportunities based on support and resistance levels.
Authochartist is also available to Axi clients, on demo accounts, but in a limited capacity with some delays.
Autochartist is a useful resource that delivers insights and notifications on key levels, chart patterns, forecasts and other advanced trading setups. It also provides volatility analysis to help you manage your risks.
On Autochartist you can choose the instruments that present interest for you and set alerts for emerging and completed trading patterns. The Price Range Forecast feature is also of great assistance when establishing your stop loss and take profit, as it provides you with data from the last six months.
Another effective feature of Autochartist is the ability to receive free market reports by email and market overviews of the present situation in the New York, London and Tokyo stock exchanges.
A tool like Autochartist helps traders to make more consistent and informed trades.
Virtual Private Server or “VPS” is hosting is a service that allows traders to use a functional trading platform continuously via an external server without interruptions. VPS Hosting is a great option for traders who prefer automated strategies and trade with Expert Advisors or as a backup to ensure they’re always online despite their local connection.
Axi presents their clients with the option to subscribe to an MT4 forex VPS hosting service supplied by third-party companies to ensure the continuity of their connection.
Some of the Axi VPS partners are ForexVPS, MetaTrader VPS, Commercial Network Services and Beeksfx VPS. Each of these brokers has their own offer and Axi offers bonuses to counterbalance the associated monthly fees, based on the monthly traded volume.
Axi Social Trading Offer
Axi proposes several options for social trading: DupliTrade, Tradency, Myfxbook Autotrade and ZuluTrade.
DupliTrade is an auto-execution mirror system displaying advanced features. It permits traders to launch automated orders by following and duplicating successful traders’ strategies.
Tradency is a popular algorithm-based platform that provides over 3,000 verified algorithmic strategies. Their Mirror Trade feature gives the possibility to follow and copy the trades of prominent and profitable traders. It’s possible to access real-time trading and select what you judge as to the best trading opportunities.
Myfxbook Autotrade is another social trading application allowing traders to copy and follow other traders’ trading strategies. With this app, one can follow and be followed by other traders.
ZuluTrade is another platform that allows mirror trading. ZuluRank displays the hierarchy of the most profitable traders that may be followed by a certain broker. Plus, traders can benefit from personalised account management tools and protection against volatility features.
Axi Review - Become a Pro Trader. No High Spreads, Trust Axi
2020 detailed Axi Review. Axi, formerly AxiTrader, is an Australian-based Forex broker which prides itself on the motto "Trade your edge". Read more.
Service Type: broker