Axi Review Formerly AxiTrader year : Is It a Good Broker?

axitrader review

Therefore, AXITrader can be considered as a trusted and reliable broker that satisfies most of the modern-day traders’ requirements. If a broker has a score less than 80, like this one, we won’t recommend it to you. So that we don’t waste your time, we don’t update these reviews either.

Final Thoughts – Is AxiTrader a good broker?

It can build an online investment portfolio and organize trading accounts and help users monitor these accounts from a unified interface. Traders can automatically check the data with its innovative tools that run statistical analysis. It also allows them to see their trading performance via third-party audits.

Axi Features

The revenue collected by AxiTrader makes it one of the top 10 retail brokers in the global forex and CFD market. It is highly transparent with its operations, winning awards recurring for its services in the market. Recently, AxiTrader won the Most innovative trading technology platform award, at International Business Magazine Awards, in 2022.

MT4 Pro Account

The centre includes eBooks, webinars, video tutorials and a glossary. That means you can be confident you’re getting the essential information you need, from people who understand the industry. Courses are self-paced so you have flexibility to go over lessons as many times as you need. I think it is great that the tutorials are available in 24 languages to cater for the wider community. Most brokers tend to just have English content so this helps set them apart from others. The multi-account manager (MAM) is a built-in trading tool that allows you to conveniently control multiple accounts from one trading terminal.

AxiTrader Account Types

However, due to differences in local financial laws, the services they offer differ based on location. Ensure you do your research to find out the services that AxiTrader offers to traders from your country of residence. Demo accounts are available if you wish to test trading conditions and platforms before opening a real account. This can be a great way to familiarise yourself with the trading platforms and practice your trading strategies with virtual funds, risk free.

axitrader review

AXITrader accepts US traders, which is a huge positive for the company. AXITrader is one of the very few brokers that operate in the US as well as the EU and Australia. However, AXITrader is not a full-fledged entity; rather, the company offers its services as an Introducing Broker under the AXITrader white-label platform. AN IB broker can bypass several regulatory guidelines that are usually reserved for mainstream Forex brokers, which helps the company to set up its base in the US.

axitrader review

I would consider Axi to be a market leader in many aspects which I will cover throughout this review. Overall, Axi are one of the most impressive brokers I have come across. They standout in so many areas, especially when it comes to market analysis, education and customer support. I find them to be a reliable broker and like that I can get easy access to trade the markets on user-friendly platforms and apps. The fact they are well regulated gives me peace of mind so I can focus on my trading.

The free educational course covers many aspects of trading from how to place trades, risk management, chart analysis, news trading and more. They can help you to arm yourself with essential skills and strategies to trade the financial markets. The sentiment indicator will give you an insight into what positions other traders are taking. Sentiment analysis is often used as part of a contrarian trading strategy. After all, it is the sentiment that moves the market most of the time.

It allows trading on all the available instruments with virtual currency that can be chosen by the trader. For retail traders in the UK, Axi offers 2 account types namely Standard and Pro. The third account type is specifically configured for professional traders axitrader review named Elite account. Overall, we found AxiTrader to be cost-effective compared with several other FCA-regulated forex and CFD brokers in the UK. The commission with the Pro account is slightly high but the professional account offers the best pricing.

They are always looking to improve their services in order to stay up to date with the latest innovative technologies and continue to deliver excellent customer support. You even get a dedicated account manager that is available to assist you in reaching your financial goals. In addition, automated technical analysis and signals are provided via AutoChartist – a third-party technology provider known for its pattern-recognition software. AxiTrader also offers automated trading signals via the Auto Trade feature in Myfxbook – a third-party service provider that also powers AxiTrader’s economic calendar.

We do not present any investment advice or guarantees for the accuracy and reliability of the information. Another cost you should consider while trading is a Swap Fee or an adjustment reflecting the relative difference in interest rates or yield on the underlying instruments. Typically, AxiTrader will charge Swap Fees on a Long Position and pay Swap Fees on Short Positions. AxiTrader is divided into 3 accounts – MT4 Standard Account, MT4 Pro Account, and Elite Account.

The broker accepts payment from joint accounts if you are one of the parties to the joint account. Axi does not charge deposit fees, but the payment processor or bank may charge you fees. Axi provides traders with 50 currency pairs, six cryptocurrency pairs, 20 commodities, and 31 index CFDs.

The automated trade journal can help to improve trade analysis by automatically recording your activity. If you want to find areas in which you can improve, this is a great tool. The alarm manager can send you customised alerts which is useful if you are monitoring multiple charts at once and do not want to be at your screen all of the time. You can still set standard alerts in the MT4 platform which do more or less the same thing.

Axi, while offering a rich trading environment, doesn’t focus as much on social trading. For those keen on exploring the world of social trading further, here’s a comprehensive guide on the best forex social trading platforms. Beginners only need basic tools, and experienced users require more advanced features. One great benefit of using MT4 is that traders can easily change from one broker with MT4 to another broker using the same platform as so many brokers offer the platform. AxiTrader – one of the best forex brokers, is offering its service for more than 70 currency pairs. There are plenty of exotic and minor currencies available for trading on the platform as well.

AxiTrader was introduced as an exclusive Forex and CFD trading platform in 2007 and has ever since becoming a segment leader in the Australian retail FX market. Traders can choose a major base currency for their account from the AUD, USD, JPY to Euro. Deposit options for client funds include bank transfer, credit card, MasterCard, Skrill, BPAY, China UnionPay, bank wire transfer, MoneyBookers to Neteller can be used. For people having AUS bank accounts, the withdrawals do not attract any type of commission.

  1. In October 2020, AxiTrader officially announced rebranding its company from AxiTrader to Axi.
  2. The copy trading app can be downloaded on Android and iOS devices to copy any trader at Axi.
  3. The help centre at the official website of AxiTrader can resolve most of your queries through FAQs.
  4. They offer competitive spreads, fee-less deposits and withdrawals, advanced tools, and support for the popular MetaTrader 4 trading platform.
  5. Axi offers different leverage levels to its clients depending on the entity under which they registered their accounts.

You will see that MT5 offers more analytical and graphical tools,  Timeframes, and Order types than MT4. Both brokers offer an add-on that gives you access to extra MT4 features. Your customer service was topnotch to the point no one cares to reply? Once you have signed up you must wait up to 24 hours for your application to be approved. Then you chose the deposit method which will be immediate or take from 1 to 3 days to credit into your account. They have a trader blog that upload market analysis and market news written by their experts.

Also, the broker provides a free trading course for beginner traders. Copy established strategies and portfolios from hundreds of traders all over the world right into your MT4 platform to automate and simplify your trading experience. The 1,305 reviews for AxiTrader speak for themselves; they have a 4-star rating as a broker on Trustpilot. 88% of the evaluations are favorable, while only 12% are unfavorable, with the majority of these reviews focusing on software and withdrawal concerns. Even though it says the wait time is 1-2 business days, one person had to wait for his withdrawal request to be approved for 2 weeks. All payments into your account must be from accounts in your name.

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