Axi can hardly be called a very popular broker. However, it has received several licenses and operates completely legally. Unfortunately, reviews about this company are rather different. Let’s check if there is a scam risk here, or if you can trade on this platform without fear.
Table of Contents
Highlights
| 🏛️ Country | Australia, UK, United Arab Emirates, Saint Vincent and the Grenadines |
| ⚠️ Regulation | FCA, ASIC, DFSA |
| 🖥️ Website | axi.com |
| 🎲 Demo Account | Yes |
| ⏳ Start Time | 2007 |
| 💲 Minimum Deposit | $1 |
| ⚖️ Minimum and Maximum Leverage | 1:1, 1:500 |
| ⚙️ Trading Platform | MT4, Zulutrade |
| service@axi.com | |
| 📞 Phone | +61 2 9965 5830, +44 203 544 9646, 1300 888 936 |
First Impression of Axi.com
The website looks pretty good apart from the weird design. Several languages are represented here. There is a detailed description of accounts, legal information, and contact details. Axi also boasts of its rewards. In general, there is quite a lot of self-promotion here, but the site still makes a positive impression.
Partnership and Bonuses
You can participate in an affiliate program or choose Introducing Broker. In the first case, you can receive up to $1,000 CPA for each qualified client. In the second case, you will receive a sub-affiliate commission equal to 10% of the invitees’ earnings.
Account Opening on Axi.com
Registration on the site is standard. You need to fill out a form with the following information:
- First and last name
- Phone number, and email
- Country of residence.
Next, you will need to come up with a password and select the type of account.
At the same time, Axi offers to open a sub-account where you can trade with crypto assets. By doing so, you will immediately send your account to an offshore branch in St. Vincent and the Grenadines. It is not regulated by the FCA. In the same offshore, the broker opens accounts for those who do not live in Europe, Australia, etc.
- The verification process is described in detail.
- Process is rather exhausting
- You need to fill in a lot of personal data, even for the offshore branch.
Regardless of which branch you open an account with, you will have to go through full verification and fill in information about:
- Yourself
- Your trading experience
- Income, and more.
Verification
Verification on the site is rather exhausting. You will need to provide proof of identity, place of residence, trading experience, etc.
- The verification process is described in detail.
- Process is rather exhausting
- You need to fill in a lot of personal data, even for the offshore branch.
Trading Software
Axi offers MetaTrader4 and Zulutrade for those who want to copy orders from experienced traders. The platforms are pretty good. They are the industry standard. The software is fast. There are many indicators for trading. You can install the platform on a PC or download it as an application on a smartphone.
| Features | Axi | Vantage | Oanda |
| Demo Account | ✔️ | ✔️ | ✔️ |
| Mobile App | ✔️ | ✔️ | ✔️ |
| Own Development | ❌ | ✔️ | ✔️ |
How Can I Trade With Axi?
Trading conditions differ depending on which branch you open an account with. For example, in Saint Vincent and the Grenadines, you will be able to trade CFD on cryptocurrencies and leverage up to 1:500. If you live in Europe and do not want to trade crypto, you will receive a leverage of 1:30 and a different list of available assets.
All Info About Accounts
There are only three types of accounts. The first is called Standard. The minimum deposit here is not indicated. Spreads are from 0.4 pips. Leverage for regulated branches 1:30.
The second account is called Pro. How much it needs to be deposited is also not written. And it differs from the previous one by zero spreads. However, here we are still in for an unpleasant surprise. Axi will deduct a fixed fee per trade of $7. So for a retail trader, this account may not be so profitable.
The third type is only available to professional investors. To open it, you must fulfill several conditions. Besides, there is an Islamic account.
- There is a demo and an Islamic account.
- The required amounts for deposit are not indicated.
- The conditions are not very favorable.
- Demo account is only available for 30 days.
Market Analysis and Education With Axi.com
The company promises to send traders daily market analysis. You can subscribe to this option when registering. There is also online education. Webinars and seminars are regularly held here. There is an Axi Academy section and a useful blog too.
Deposit, Withdrawal, and Fees
You can fund your account with a limited number of payment methods. The company allows you to use only wire transfers and Neteller. You can withdraw money in the same ways.
| Features | Axi | IC Markets | Vantage |
| Debit/Credit Cards | ❌ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ✔️ | ❌ |
| Crypto Transfers | ❌ | ❌ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ✔️ | ✔️ | ✔️ |
How Can I Contact It?
Contact details are something in which the broker has no drawbacks. Axi has taken care of free phone numbers in several countries and provides office addresses.
- A lot of contact information.
- Difficult to get through to support.
- The staff is mostly English-speaking.
Is Axi Dangerous?
As we have already noted, Axi has several licenses. It makes the broker a promising partner to work with. Let’s check if everything is really so good.
How Long Does The Broker work?
The broker has been operating for a long time. It launched in Australia back in 2007. The domain has been operating even longer, since 1995. It was probably bought out by Axi a little later. In any case, the period of the company’s work is long.
How Is Axi Regulated?
At first glance, everything is fine with regulation. Axi has licenses from the FCA, ASIC, and DFSA. However, trading here is safe only for clients who live in the named jurisdictions. In other cases, you will be opening an account in an offshore branch in St. Vincent and the Grenadines. The local regulator does not issue licenses to brokers there. Therefore, there is no supervision over this branch. Be careful.
| Features | Axi | IC Markets | Oanda |
| European Zone | ✔️ | ✔️ | ✔️ |
| Asian Zone | ✔️ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ✔️ | ✔️ |
Frequently Asked Questions (FAQ)
How to Trade With Axi?
Is Axi Legit?
How Risky Is It?
Kevin Berry Axi is quite a normal broker if you want to trade CFDs. Do not forget that this is a very risky business, ha ha! The best way would be to contact a forex dealer, but we’re digressing. As for this stuff, it is more suitable for Asian countries. Interface languages, licenses, support… It’s not so interesting or unique for Europeans.
Axi rating
3 reviews about Axi
Licenses are not yet a guarantee that you are working with the best broker. I noticed a few serious shortcomings in Axi. Even though the deposit to your account occurs instantly, you will have to wait for the withdrawal for about three days. Additionally, spreads can suddenly widen here, even in a calm market. You can find better trading conditions.
It is definitely not a fake broker. But there are problems here, too. Firstly, if you have a small deposit, «Pro» is an absolutely unprofitable account. This way the commissions are even higher than the spreads. Secondly, it is very difficult for me to reach the support service.
I have been working here for about a month. They withdraw money like normal, but something is wrong. I have already lost 50% of the capital. The personal manager says that I just need to deposit more. I don’t like this situation.