AXI broker: offer, costs, opinions
AXI is a very interesting broker that has been able to expand into a variety of markets over the years. Is this push justified by an effective quality of services? Does it have its main driver in an offering that can outperform the competition of – at least on paper – more famous brokers? Let’s find out.
What is AXI
AXI is an Australian broker. It was founded in 2007, so it has 15 years of experience, which in the context of online trading is really a lot. Because of this, it has on its side nourished know-how, which it evidently makes available to traders, at least judging by the number of positive feedbacks addressed to it.
AXI’s history draws a growing parabola, which almost immediately touched new markets and incorporated new asset classes. In 2012 it landed in London, then in the rest of Europe, China, the Middle East, and South America. An increasingly ubiquitous presence has been accompanied by a gradual refinement of services to levels of pure excellence. Proof of this is the many awards AXI has accumulated over the years, disbursed by a number of fine institutions based in the United Kingdom and beyond.
Awards that speak of a focus on the quality of experience, a focus on guarantees of safety, and the performance of the tools made available. But what precisely is AXI about? It is in brokerage, sure, but an atypical broker. In a landscape that offers almost exclusively CFDs, which after all is the most affordable form of derivative product, AXI also offers direct trading, that is, the ability to trade real assets. In particular, this opportunity is reserved for Forex trading, the trading of currencies. CFDs, on the other hand, are for those asset classes that would be problematic to trade directly, such as cryptocurrencies, indexes (for which real trading is physically impossible), stocks, commodities, and precious metals.
Investing with AXI: the offerings available
One of AXI’s strengths is its offerings. The instruments made available are not only numerous but also cover the major asset classes. Specifically, we find Currency pairs. AXI allows trading in Forex with over 70 currency pairs.
So, it makes available not only the major pairs (euro, dollar, pound, yen, Swiss franc) but also exotic ones, with low liquidity but high volatility.
Stocks. Regarding the stock market, AXI operates an intelligent selection, providing users with the most attractive stocks. Between the U.S., U.K., and Europe there are about 50 of them, all tradable through CFDs.
Indices. AXI offers the opportunity to trade with more than 30 indices, spread across the US, UK, Europe, Asia, and Australia. Obviously, it is possible to invest in indices only via CFDs, since we are talking about physically (and digitally) “non-tradable” assets.
Commodities. Traders enrolled in AXI can trade a wide range of commodities, or commodities as you like. These range from oil, increasingly the focus of attention, to coffee to copper. Of course, again, trading is done through CFDs: trading commodities physically would be prohibitively expensive, given the costs of storage and maintenance.
Precious metals. The offer includes gold, silver, and other precious metals, which are always to be traded using CFDs. Thus, access to a significant market is guaranteed, especially at this time of crisis for national economies and revaluation of safe-haven assets.
Cryptos. From this point of view, AXI comes up with a bold choice of field. Instead of providing digital wallets and Exchange platforms, it only makes CFDs available. An approach that focuses on security and convenience, without taking anything away from profit prospects.
AXI commissions and costs for trading
AXI also excels when it comes to the cost chapter. An aspect on which many brokers, even famous ones, stumble, offering traders an experience that does not live up to expectations. For starters, AXI makes an all-too-common choice in the trading world, which is to eliminate commissions (except in rare cases) and replace them with spreads. However, unlike some competitors, it does not go overboard, does not “remake” itself on the other elements of the economic offering, such as the spreads themselves, margins, and leverage. In fact, AXI: Imposes low spreads, which even start at 0.4 pips (for the standard account).
Moreover, they are variable, especially depending on the liquidity of the asset, well-differentiated from instrument to instrument, and always limpidly stated. It provides significant leverage. AXI’s CFDs can be traded with a leverage of 30:1, which, while placing them within the limits of the very strict MiFID2, provides an excellent compromise between profit prospects and risk management. Extremely low margin. Precisely because of this leverage, AXI allows trades with margins as low as 3.33 percent, giving traders excellent freedom of choice.
What is most striking, however, is the approach to the minimum initial deposit, i.e., the amount of money that must be put into the account before starting to trade. In recent times, it is true, that the amounts have been lowered on average, allowing even the “layman” to access the markets. AXI makes an even bolder choice and does away with the minimum deposit altogether. That’s right, you don’t have to deposit anything to open an account.
How to open an account with AXI
AXI provides basically two types of accounts: standard and pro. There are very few differences, a sign of leveling upward. Ultimately, the standard account–of the standard has very little. All, let’s be clear while retaining a very accommodating approach to costs. One of the few differences concerns the management of spreads and fees.
The pro account in fact starts with zero spreads, but imposes fees, albeit very slight ones. In addition, the pro account guarantees a few more instruments. Incidentally, AXI also provides an “Islamic account,” which has very special features and allows practicing traders to invest without violating their religious beliefs. As far as platforms are concerned, AXI makes a clear field choice, aiming for maximum usability.
Rather than offering a proprietary platform, and in fact, forcing traders to learn a new tool, it relies on good old MetaTrader, in all its variants reserved for trading via browser and trading via mobile. A choice that traders have proven to appreciate tremendously.
AXI demo account: a resource for beginners and experts alike
AXI also offers a decidedly sui generis type of account: the demo account. As the name suggests, this is not an actual account, but rather a simulation tool. That’s right, the demo account simulates the real one: the market is always the same, the instruments and assets available ditto, the capital, however, is fake, as are the “executed” orders. The demo account is therefore a key resource for getting the hang of it. At the same time, it appeals to many categories of traders.
Beginners. The demo account has enormous educational value. Indeed, it allows you to practice without jeopardizing your capital and allows you to experience the thrill of trading without the stigma of defeat.
Experts. Even “pros” can find some utility in the demo account. For example, in order to test a new strategy, a new indicator, or even just to “try out” another asset. Skeptics. Finally, the demo account has a decidedly practical function: to allow those who still have doubts about trying out brokers and platforms. Indeed, it can be considered a kind of product trial.
Learning to trade with AXI: the educational content
AXI’s willingness to stand by the user is also reflected in the importance given to the educational aspect. In fact, it makes available so many educational resources, moreover varied and in some cases even “sui generis,” which are unique in the world of brokers. There is no shortage of text tutorials, just as there is no shortage of webinars and explanatory videos.
However, we also find real trading courses, rather inexpensive (much less than a first-level master’s degree), taught by some of the great trading experts. Incidentally, the course is provided free of charge to the traders who turn out to be most eligible, according to a mechanism resembling merit-based scholarship. We also find ebooks, which are written in a simple manner but are nonetheless rich in information, and able to provide more than a general smattering. All content, incidentally, is designed on a modular basis, so that it is aimed at all types of traders.
Finally, there is a certain abundance of analysis tools, but they boast a didactic value. Such is the case with PsyQuation, artificial intelligence that can analyze data and identify entry, exit, strength and weakness points in the market. It is also the case with Autochartist, which offers a kind of automated technical analysis and provides in-depth analysis performed on a statistical basis-of an individual user’s performance.
Good Customer Service
AXI is also characterized by a very good support service, which can be reached through a plurality of channels, providing concrete support to users. Incidentally, toll-free numbers, which obviously change from country to country, are made available and serve as a hotline for all traders who have doubts or face a problem. In the background is an extensive FAQ section, which alone would be enough to solve most of the issues that traders may complain about, as it is the result of a very large case history.
AXI user opinions and feedback
User opinions about AXI are generally positive. They populate the net in the sense that the broker is well represented on all platforms that collect feedback. Especially those on Trustpilot, where there are more than a thousand reviews and an average of 4.5 out of 5, stand out. Broadly speaking, among the advantages most often mentioned by users are the following. Speed.
AXI guarantees fast order execution, even faster than ECNs. Incidentally, this is made possible by reliance on a highly developed and abundant network of liquidity providers.
Costs. As is abundantly clear from this review, AXI goes very “light” on costs. For those who choose the standard account, fees are absent and spread in any case very low. Moreover, in no case is a minimum deposit required.
Offer. Without overdoing it and without proposing superfluous solutions, AXI provides a wide and varied offer, consisting of more than 100 tools, belonging to the most popular asset classes.
Support. Traders especially appreciated the quality of the support service, which differs from the “minimal” approach of other brokers. On the contrary, AXI stands right on the side of the users and provides real support, putting them in a position to fulfill their potential and increase their chances of success.
Ultimately, what can be said about AXI? Is it a quality broker? Should it be preferred over all others? Obviously, in the choice of a broker, it is always the individual who has the final say, also because there is no absolute best one. Rather, it is a matter of choosing the most appropriate one from a shortlist of “papabili,” from a group of brokers who deserve trust. Well, AXI deserves to be part of this group, and deserves to be considered.
The services are delivered with professionalism, designing around the user a productive environment, which allows him to express himself at his best. In this already positive context, then, are grafted some exclusive or at least “sui generis” elements, which allow AXI to stand out among the crowd. The reference is the extremely accommodating approach to costs, which is realized also, but not only, by the zero minimum guaranteed deposit.
The ability to trade on minimal margin, and thus potentially accelerate gains, is also a very welcome plus. Finally, the assistance, which really appears to be able to support users, almost to guide him towards success, especially when one considers that, acting in the background, there is a close-knit and well-managed community.
Is AXI a good broker?
The answer is that it is a broker to consider. It has good sides and bad sides. For the rest, it is up to the individual trader to choose.
Does AXI offer a demo account?
The answer is affirmative. It provides a good demo account with which to try out the platform or practice trading or, why not, test new strategies and assets.
Is the AXI offer good?
AXI provides a varied offering, covering many asset classes: currency pairs, stocks, indices, commodities, precious metals, cryptocurrencies. The predominant form is CFDs, derivative products that allow you to take advantage of price fluctuations without actually owning the asset.
Does AXI impose fees?
The answer is no. It operates mainly in CFDs, which allows it to use spreads exclusively. What’s more, they are also low. In fact, they start at 0.4 pips.