Axi Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
From our comprehensive research, Axi stands out as an average choice for traders looking to engage in forex and CFD trading. Axi's offerings and service quality deliver an acceptable but not superior trading environment, ideal for traders seeking a solid trading platform with basic features.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- MetaTrader 4 Support: Axi supports the popular MetaTrader 4 platform, appealing to traders familiar with this trading system.
- Social copy trading: Axi supports ZuluTrade, allowing traders to copy trades from others.
- Regulatory Assurance: Regulated by Australia's ASIC, Axi is a reliable choice for traders concerned about compliance and fund safety.
Cons
- Limited Platform Choices: Does not offer MetaTrader 5 or proprietary trading platforms, restricting traders who prefer these platforms.
- Lack of Advanced Education: Axi does not provide advanced educational videos, which could be a setback for those seeking in-depth trading knowledge.
- Average Investment Ratings: The offerings in investments are rated as below average, suggesting there might be better options available in the market for diverse portfolios.
Ratings Summary
- Investment Types - 6.5/10
- Commissions & Fees - 7.5/10
- Trading platforms - 6.5/10
- Research - 6.0/10
- Mobile Apps - 7.0/10
- Education - 7.5/10
- Overall - 7.1/10
Can I trust Axi?
Our review confirms that Axi is a trustworthy broker, backed by authorization from Australia's ASIC and not publicly traded. With a trust score of 81, Axi is considered reliable, falling into the 'Trusted' category according to ForexBrokers.com.
Axi is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA)
- Tier-2 Regulators - Dubai Financial Services Authority (DFSA)
- Tier-3 Regulators - None
- Tier-4 Regulators - None
Is Axi good for beginners?
Axi is a commendable option for beginners, thanks to its provision of beginner education videos and the lack of a minimum deposit requirement, making it accessible for new traders starting out.
| Feature |
Axi
|
|---|---|
| Education (Forex or CFDs) | Yes |
| Client Webinars | Yes |
| Videos - Beginner Trading Videos | Yes |
| Videos - Advanced Trading Videos | No |
| Investor Dictionary (Glossary) | Yes |
Axi commissions and fees summary
In terms of commissions and fees, Axi offers a balanced cost structure with no inactivity fees and active trader discounts, although its commissions and fees are rated as average. The absence of information on average spread costs for the EUR/USD pair indicates a potential area for improvement in transparency.
| Feature |
Axi
|
|---|---|
| Minimum Deposit | $0 |
| Average Spread EUR/USD - Mini | N/A |
| Average Spread EUR/USD - Standard | N/A |
| All-in Cost EUR/USD - Active | N/A |
| Active Trader or VIP Discounts | Yes |
Axi trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokersNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer Zulutrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
While Axi provides a functional trading experience through MetaTrader 4, its overall platform and tool offerings are average. This may affect traders looking for high-end analytical tools and integrated trading features.
Trading platforms offered: Axi offers MetaTrader 4 for forex and CFD trading.
Trading tools: Axi provides standard trading tools suitable for average traders.
Copy trading: Axi offers copy trading options like ZuluTrade, enhancing its appeal to less-experienced traders who wish to mirror the transactions of established traders.
| Feature |
Axi
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| DupliTrade | No |
Mobile trading apps at Axi
Axi's mobile trading capabilities are below average, with room for improvement in mobile accessibility and user experience.
| Feature |
Axi
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | No |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
How do I open an account with Axi?
- Visit the Axi website and click on the 'Open an Account' button.
- Fill out the registration form with your personal information.
- Verify your identity and residence by uploading the required documents.
- Fund your account using one of the accepted methods.
- Start trading after your account is activated.
What can I trade at Axi?
Axi offers a moderate range of tradable instruments, with 65 forex pairs and a total of 175 tradeable symbols. However, its overall offering is rated as below average - it may not meet the needs of traders looking for a wider range of investments.
| Feature |
Axi
|
|---|---|
| Tradeable Symbols (Total) | 175 |
| Forex Pairs (Total) | 65 |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | Yes |
Account funding at Axi
Axi supports various funding methods including bank wires, Neteller, and credit cards, but does not support PayPal.
| Feature |
Axi
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | No |
| Skrill (Deposit/Withdraw) | Yes |
| Neteller (Deposit/Withdraw) | Yes |
About Axi
Axi (formerly known as AxiTrader) was founded in 2007 and is headquartered in Australia.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
AI disclaimer
We use proprietary AI technology to assist in some aspects of our content production. However, our scores, ratings, and rankings of online brokers are based on our in-depth product testing and thousands of hand-collected data points. Learn more about our AI Policy and How We Test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.