January 8

Axi Review


Originally founded in 2007 (as AxiTrader) and rebranded in 2020, Axi is a reputable Australian FOREX broker that’s used by millions of traders and investors. Regulated by multiple global top-tier financial authorities, including the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), and the Dubai Financial Services Authority (DFSA), users can be confident that Axi offers a safe and secure trading platform.

Top Broker Recommendations

  • Web Address: www.axi.com
  • Countries of Regulation: UK, Australia, Dubai, St. Vincent and the Grenadines
  • Inactivity fee charged: $0
  • Withdrawal fee amount: $0
  • Minimum deposit: $0
  • Deposit Methods: Cards, electronic wallet
  • Number of base currencies: 11
  • Demo Accounts provided: Yes
  • Services offered: Forex, CFD, Crypto

Axi: Pros and Cons

With free deposits and withdrawals, no inactivity fees and low FOREX charges, there are plenty of reasons for investors to choose Axi as their trading platform. To find out if Axi is right for you, take a look at some of its pros and cons:

  • Digital account setup
  • No inactivity charges
  • Low FOREX fees
  • Free deposits and withdrawals
  • Free trading platforms extras and add-ons, including Axi-One ECN, MetaTrader4 Next Gen, AutoChartist, Psyquation and WebTrader
  • Low spreads – professional accounts benefit from spreads as low as 0.0 pips
  • Commodity trading available, including silver, gold, coffee, soy and oil
  • User-friendly video tutorials make it easy to learn how to use the MT4 platform
  • Award-winning MT4 platform performance, as well as add-on platforms, such as AutoChartist and Psyquation
  • Offers only FOREX, CFD, metals, cryptocurrency, and commodity trading
  • Few research tools
  • 24/5 Customer service

Axi Account Types

At Axi, there are three types of accounts to choose from. However, the suitability of an account type will depend on who owns the account. For example:

  • Individual – An individual owns the account.
  • Joint – Multiple individuals own the account.
  • Corporate – A legal entity, such as a company, owns the account.

In addition to this, you can choose to sign up for either a Standard or Pro account. Different fee structures are applied depending on which option you choose, so think carefully about how you plan to trade to determine which type of account offers the best value. Current fee structures are:

  • Standard accounts – Typically higher spreads, no commission charges.
  • Pro accounts – Typically lower spreads, $7 round trip commission.

Users can also choose to setup an Islamic account with Axi.

To gather data and review Axi, we’ve tested and assessed an Individual Pro Account.

Axi Trading fees

Axi Forex fees

Showing forex fees is always difficult so we calculated the fees based on a $20,000 30:1 long position held for a week on fivr different pairs. This is for the Axi pro account.













Axi CFD fees

We are showing the fees based on a week long $2000 long position on two different indices.



S&P 500 index CFD fee


Europe 50 index CFD fee


Opening Your Axi Account

If you want to register and open an account with Axi, the setup process is completely digital and easy to navigate. However, it can take some time for your account to become accessible. In this instance, it was two business days until our account was available to use.

To successfully open an Axi account, you’ll need to complete the following steps:

  1. Submit personal information, such as your location and email address.
  2. Choose which type of account you want to open.
  3. Complete a few questions to verify your understanding of the trading process.
  4. Upload documentation to verify your identity and country of residence. This can be either a copy of your passport, driver’s licence or ID card, as well as a recent bank statement or utility bill.  

How is Axi Regulated?

Axi is regulated by numerous bodies and authorities throughout the world, including:

  • the Australian Securities and Investments Commission (ASIC)
  • the Financial Conduct Authority (FCA)
  • the Financial Service Authority of St. Vincent and the Grenadines (FSA)
  • the Dubai Financial Services Authority (DFSA)

Knowing that Axi is regulated by reputable global authorities should give users reassurance that the platform is subject to strict regulations. However, it’s worth noting that Axi’s license was suspended by the Financial Markets Authority in New Zealand on July 29, 2019. You can learn more about the suspension and what it means here.

Is It Safe to Trade with Axi?

When choosing which platform to trade with, it’s important to ensure that your data and assets will be safe. To help you make the right decision, we recommend assessing a range of factors, including:

  • How you’ll be protected if there’s a problem.
  • The broker’s history.

Axi’s Background

Axi was launched in 2007 as AxiTrader, before being rebranded to Axi in 2020. Having been in operation for well over a decade, users can feel comfortable that Axi has a largely positive history. Having already survived financial crises, Axi is well-placed to navigate potential future economic upheaval.

Investor Research:

For users who want to conduct research prior to trading on the Axi platform, two main tools are available:

  • The ‘Markets Blog’ on the Axi website.
  • The MetaTrader platform.

On Axi, MetaTrader tools are available in numerous languages.

Trading Ideas:

Axi does not currently offer trading ideas.

Fundamental Data:

Axi does not currently offer fundamental data.


Compared to other brokers, Axi’s charting tools are average. Available on the MetaTrader platform, you’ll find 31 technical indicators, as well as other technical tools, including Fibonacci retracement and trendlines.

Breaking News:

Axi features a news feed on its MT4 platform, which is useful for traders and something that many other brokers have overlooked. However, you won’t find visual elements within the news section, which can limit its usefulness.

You can also benefit from market analysis via Axi’s ‘Markets Blog’ and access an economic calendar with a range of filters, including ‘Event Category’ or Country’.

Overall, Axi offers a good range of news and analysis but there are some limitations. Some articles are only available via the UK or Australian websites, for example. When using Axi’s international site, you will be limited to educational articles and news relating to FOREX market analysis. In addition to this, non-English news is updated less frequently. 


When you sign up with Axi, you’ll be given lifetime access to PsyQuation Premium. The AI-driven analytics software is designed to help you access strategies that can be used on the MetaTrader 4 platform, which means it can enhance your trading strategy and help to increase your success. PsyQuation Premium gives you access to a variety of tools, such as ‘Twitter vs Rates’, which shows you how Twitter trends impact symbol price fluctuations, and ‘Order Flow Sentiment Indicator Charts’.

To get a better idea of how you can use PsyQuation Premium to hone your trading strategies, take a look at some of tools it offers:

  • OFSI Table and Chart – displays the order flow sentiment indicator for numerous symbols.
  • Risk calculator and Lot Sizing – Calculate the likelihood of reaching a specific stop loss/take profit value.
  • Account Benchmark – Use a variety of data to score your account.
  • Symbols Correlation – Identify the correlation of movement between symbols.
  • Lead Lag – Visual representation of the lead/lag between symbols.
  • Yield Curve Analysis – Assess the spreads and yield curve of various countries over a specific amount of time.
  • Twitter vs. Rates – See how Twitter affects symbol price fluctuations.
  • Intraday Moves – Monitor how symbol movements are related.
  • Price Journey – See which symbols have a significant intraday move and find out why.
  • MAE/MFE – Use Maximum Favourable Excursion and Maximum Adverse Excursion to help plan your exit strategy.
  • Yearly Price Journey – Access comparative annual movement journeys to determine how a symbol has performed in relation to others.

Axi Customer Service:

Before deciding which FOREX broker to register with, it’s important to assess what level of customer support they offer. At Axi, you can contact customer service representatives in three ways:

  • Email
  • Phone
  • Live Chat

In our experience, Axi’s Live Chat support is fast and responsive, with an agent connecting to our request almost instantly. Although this is certainly a positive, the level of support and accuracy of the information provided was disappointing. The agent responded to a separate issue while failing to resolve our initial question and, during another request for help, inaccurate information regarding CFD indexes charges was given.

In contrast, the support available via Axi’s phone helpline was useful and informative. However, wait times were average, which meant we were unable to access help instantly via this method of communication. Similarly, customer service responses via email were received at an average speed.

When adequate help is generally available via Axi’s customer service, you’ll only be able to make contact 24/5. With no 24x7x365 access to customer support, users might find themselves waiting a considerable period of time before being able to get the help they need.

Axi’s Training and Education:

Axi makes it easy to enhance your trading knowledge via numerous tools, including:

  • Tutorial videos.
  • High-quality articles.
  • Educational videos
  • Demo accounts.
  • eBooks.
  • Free seminars and webinars.

The ‘Learn to Trade’ menu on the front page makes it easy to access all of the educational content you need, while the ‘Markets Blog’ also features informative and up-to-date articles and posts.

The education videos available on the Axi website are of great quality and extremely useful. By covering a wide range of topics, such as ‘FOREX Trading’ and ‘Trading Psychology’, Axi ensures there is a broad base of content for users to view or download.

At the time of writing, the free webinars and seminars were only available on particular pages, although accessibility is expected to increase.

Is Axi Right for You?

There are certainly a lot of positives associated with Axi. No inactivity fees, easy account setup, no minimum deposits and free withdrawals and deposits make it an attractive choice for anyone who is looking for a new broker. Furthermore, being regulated by numerous global authorities, including the ASIC in Australia and the FCA in the UK, helps to make Axi a reliable platform.

However, Axi does have a somewhat limited product range when compared to other brokers and it doesn’t offer the same variety of educational tools as some other platforms. In addition to this, the lack of 24/7 support is a definite disadvantage.

Despite these drawbacks, Axi could certainly be a great choice for many traders. With a free Demo account, you can try Axi without incurring any charges and find out whether it’s the right broker for you.


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