Axi AxiTrader Review 2023 The Good and the Bad

One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. Axi offers a positive swap on EUR/USD short positions, meaning traders get paid money. Trading with a regulated broker will limit the potential for fraud and malpractice.

Step 7) Agree to the terms and conditions then click ‘Continue’, review the information you have provided and click ‘Submit Application. Step 6) Answer questions about your employment, finances and trading experience then click NEXT. Step 5) Upload verification documents like your ID Card to verify your identity and a utility bill or bank statements for your address.

1. This hands-on experience can help you gain confidence and become more comfortable with trading.
2. In addition, currency conversion fees may apply if the Axitrader withdrawal and receiving currencies differ, adding to the overall transaction costs.
3. AxiTrader is a smart choice for savvy forex traders looking for a MetaTrader 4 Forex broker with enhanced features, strong customer service matched with relatively high leverage.
4. If you do high volumes and you have extensive experience trading then the pro account is definitely for you.

The minimum trade size is 0.01 lots, and it includes 140+ trading products and 10 base currencies. Axi processes withdrawal requests within one to two hours, ensuring traders get swift access to their capital without complications. 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.

Demo Account

You will be exposed to a high risk of loss regarding leverage and margin-based trading. Although we found some very useful aspects of the Axitrader platform that would be useful to some traders. Stop-loss orders are especially important for Axitrader traders not hedging their positions or using leverage, as they can be more vulnerable to significant losses. However, the https://forex-review.net/axitrader-review-scam-or-legit/ circumstances in which an Axitrader trader should use a stop-loss order can vary depending on the specific trade and market conditions. Experienced Axitrader traders can trade high risk CFD trades to hedge items in their portfolio. On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease.

Withdrawals

We placed 3 trades for each instrument to get a complete picture of the average spread. We tested the Standard Account with AxiCorp Limited which charges a spread on all tradable instruments. Axi charges low fees for all the instruments on offer including Forex pairs, indices, commodities and cryptocurrencies. The education section at Axi makes up for the underwhelming research area in many ways. The broker provides an extensive range of materials in this regard that includes a huge choice of more than 60 tutorial videos. Do note that under FCA regulation, crypto trading CFD is only for professional traders.

Losses can exceed deposits
You should consider whether you can afford to take the high risk of losing your money. As part of our Axitrader review, we review customer service options, response times and problem resolution effectiveness on the Axitrader trading platform. The Axitrader trading platform supports multiple languages, which includes English, Chinese, Spanish, German, Japanese, Russian, Romanian, and Arabic.

Ready to trade smarter? Start making data-driven moves!

This is a good bonus since many top forex brokers do charge some kind of inactivity fee. If you are an islamic trader, you may be interested in opening a rollover free account, but since Axi doesn’t offer them, we suggest looking at our top 10 swap free accounts for your best options here. Ultimately this should provide you with a great deal of choice so that you can avoid paying any currency conversions fees if your deposit or withdrawal method currency does not match up. When it comes to regulation, Axi recognizes the importance of trusted regulation for traders. They act on this by providing well-respected regulatory oversight from three key bodies. The different entities of the broker are regulated by the following bodies depending on where you are located around the world.

AxiTrader offers spread betting with tight liquidity, copy trading and hedging. You may also use automated trading by downloading a plugin called PsyQuation that allows you to follow https://forex-review.net/ top traders, observe their history and get ideas from them. Deposits on AxiTrader are free, and they can be credited instantly into your account or take form up to one to three days.

One of Axi’s more underrated features is the Copy Trading functionality. This feature lets you track the trades of top Axi traders and even copy the same to be more profitable. You can even connect the copy trading platform with the MT4 terminal to better track your trades. One of the best things about AxiTrader is its ability to offer the widest possible selection of tradable forex and Contracts for Difference. Starting with forex, you get access to 70+ pairs without worrying about commission, brokerage fees, and even high spreads. If you wish to trade using Axi as your forex broker, it might make sense to look at the choice of Meta Trader 4 trading accounts.

Unlike IC Markets, Pepperstone needs to comply with ESMA rules for their European clients because they are also regulated by the FCA of the UK. Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds.

Who is the Most Trusted Forex broker?

Using highly sophisticated algorithms it works like your own private trading coach, analysing your individual trading style, identifying mistakes and helping you avoid making similar mistakes again. Although nowadays there is plenty of information available on every broker, this does not make it easier to take a thoughtful decision. The abundance of information can quickly become overwhelming and confuse traders rather than provide clear answers. Overall, our experience with AxiTrader was smooth from opening our account, to the deposit, trading and withdrawal processes. Axi outsources its live chat customer support to specialised agencies.

How to Open Axi Account in Australia?

For example, “Zuluguard” is a risk management tool that will protect you from extreme volatility. This allows you to follow the trading strategies of a group of professional traders. You can also make use of algorithmic strategies that have been developed by these same professionals. Once you have created an account at Duplitrade these signals will be sent directly to your Axi trading account in the MT4 interface. It will also give you tools in order to better analyse the returns of the other traders on the platform.

Deposit processing, except bank wires, are carried out in less than 30 seconds and will immediately, upon approval, reflect in trader accounts. Yes, AxiTrader is an FCA-regulated broker with GBP as the base currency. They offer local phone support in the UK and allow free deposits and withdrawals through local bank transfers. For retail traders in the UK, Axi offers 2 account types namely Standard and Pro. Due to its user-friendly design and accessibility of demo accounts for practice, MetaTrader 4 is regarded as one of the finest trading platforms for novices. Contact us today and we will find a broker suited for your skill level.

For Neteller clients would need to ensure the account corresponds to the one registered with AxiTrader. All Axi subsidiaries offer negative balance protection and segregate client deposits from corporate funds. I can highly recommend Axi, particularly the unit operating out of St. Vincent and the Grenadines, due to it. With language availability, there are more than 10 languages that you can access through the broker website. These include English, Spanish, Russian, Arabic, Chinese, Thai, Vietnamese, and more. This provides for a very healthy level of language support for traders around the world.