WikiFX Review: Something About Axi

Recently, you may have heard about a report that Axi launched a $1 million capital allocation program called Axi Select, which shows the business capability this broker has. In this article, we make a comprehensive review of Axi so that you can hopefully have a deep understanding of this broker.

About Axi

Axi (formerly AxiTrader) gives you access to about 220 trading choices across 5 categories: forex, shares, indices, commodities, and cryptocurrencies. Yet, there are also other popular picks for trading, like ETFs, stocks, and options. It was founded in 2007 in Sydney, Australia, and has since expanded its presence to include offices in other regions, including Europe and the Middle East. AxiTrader welcomes all kinds of traders. If you're new and want to start without spending much, the $0 minimum deposit and easy platform are great. If you're more experienced, you'll like the many options to trade, good spreads, and quick execution. For those inclined toward advanced features, Axi's ECN system and MetaTrader 4 platform are a notable combination.

Is Axi Legit？

Axi is a regulated broker. Investing in regulated brokers is relatively safer than investing in unregulated ones.

Trading Platform

This broker uses MT4, and MT4 webtrader as its main trading platform.

Account Types

AxiTrader offers three account types tailored to different trading needs, namely Standard, Pro, and Elite. The Standard Account has no setup cost and starts with spreads from 0.9 pips. The Pro Account tightens those spreads to 0.0 pips with a $7 round trip commission, while the Elite Account, designed for advanced traders, features 0.0 pips spreads and a reduced $3.50 round trip commission. All accounts support trading from 0.01 lots, and mobile trading, and include MT4 NexGen. Leverage reaches up to 500:1, and you can choose base currencies among AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD. For the Elite Account, a minimum deposit of USD 25,000 is required.

Spread & Commission

Spreads and commissions with Axi are scaled with the accounts offered. Specifically, the spread starts from 0.4 pips on the Standard account, and 0.0 pips on the Pro and Elite account.

As for the commission, there is no commission on the Standard account, a commission of $7 round trip on the Pro account, and a $3.5 round trip on the Elite account.

WikiFX's Field Survey on Axi

WikiFX conducts field surveys to gather on-the-ground information about brokers. In the case of Axi, WikiFX confirms that the broker does indeed exist, which is a positive sign of legitimacy.

Exposures

Recently WikiFX received more than 40 complaints against Axi. Although Axi is a reputable broker, it is inevitable that some investors are not happy with this broker. Some people told WikiFX that this broker is getting involved in a scam. We show you the cases so you can understand the potential risks before making a decision.

Conclusion

Axi is a well-regulated and reputable broker that offers a wide range of markets and instruments for trading, including forex, shares, indices, commodities, and cryptocurrencies. They also offer multiple account options, free demo accounts, and leverage up to 500:1. In addition, their MT4 trading platform is robust and feature-rich, with various tools and resources to support traders.

However, there have been reports of issues with withdrawals and scams. The WikiFX score of a broker can be increased (or decreased) if the broker is constantly running the business in a good (or bad direction).

If you want more information about certain brokers' reliability, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find your most trusted broker.