The Axi broker was established in 2007 and has gained popularity among traders every since. In this Axi review UAE, we take a closer look at the platform, getting to know the ins and outs of the popular broker. Our article will include everything from the broker’s tradable instruments to its customer service and payment methods.
Axi broker is an Australian-based company founded in 2007. It is considered one of the most trusted global brokerage firms offering its services to over 70 billion traders across 100 countries internationally. In addition, Axi is well known for offering attractive pricing, free educational tools, and award-winning 24/5 customer service.
With over 15 years of experience as a leader in online trading, Axi broker offers various CFD financial products including stocks, indices, commodities, and cryptocurrencies, as well as being focused primarily on retail investors geared toward foreign exchange trading. All accounts come with tight spreads and fast execution as standard as part of their platform. Furthermore, it is also worth mentioning that the clients of Axi Broker have direct access to a variety of liquidity providers, including more than 14 of the largest banks in the world.
What Assets Can You Trade With Axi?
Among the over 70 forex pairs available for trading at Axi, you can find a great variety of forex pairs to choose from. A wide range of major, minor, and exotic currency pairs can be traded with excellent spreads starting from 0 pips, thanks to the broker’s access to extensive liquidity provided by more than 20 vendors.
The Axi crypto trading offering consists in 30 cryptocurrencies that can be traded as a contract for difference. Bitcoin, Dash, Ethereum, Litecoin, and Ripple are among the top cryptocurrencies available to customers. Moreover, as the best CFD trading platforms in the UAE, several altcoins can be found within this platform, including Cardano, DogeCoin, Polkadot, EOS, Chainlink, and Stellar Lumens.
There is a wide selection of indices offered by Axi, which differs from other brokers of similar nature, and includes indices such as NASDAQ, FTSE100, DAX30, and Hang Seng, among many others.
In total, seven commodities are available for trading on the platform. As part of this selection, there are three metals to choose from – gold, silver, and copper. In addition, two energy sources – oil and natural gas, and two agricultural commodities such as coffee and cocoa.
CFD shares are one of the most popular asset classes offered by Axi, offering shares from the top 50 companies listed in the United States, United Kingdom, and European markets, including popular and liquid stocks such as Apple, Amazon, and Netflix.
Can You Use Axi In The UAE?
Yes, it is possible. In fact, Axi has received a license from the DFSA in order to provide its services in the UAE. DFSA’s job also includes auditing the company, identifying violations, and dealing with complaints of violations made by companies that are included in the register of companies managed by this regulator.
Is Axi a Legit Broker?
Because Axi is a licensed broker, it is required to adhere to the standards that have been set up to protect investors. As Axi Broker is regulated heavily by many regulatory bodies worldwide, it is widely regarded as one of the safest trading brokers.
Additionally, they offer protection against negative balances as well. As a result, you cannot lose more than you have deposited in your account, although you can use the balance of one account to cover the balance of another if you have more than one account.
Segregated accounts are always used to increase their clients’ protection level. In other words, if the broker ever ran into bankruptcy or insolvency, you would always be able to keep your money safe, no matter what happens to them.
When deciding what broker to use, you would do well to start with a demo account. This way, you can learn about the broker and trade with virtual funds without any obligation or risk. In addition, you will have an account that mimics real trading with virtual funds, so this can be a splendid resource if you are new to platform and want to learn how it works.
It is also possible to open a demo account with Axi Broker. However, this account can only be used for trading for 30 days. After that, you can easily open another demo account with basic information, such as your name, country of residence, and valid email address.
It doesn't matter how small a pricing edge is to algorithmic traders. Considering this, Axi Broker has built an Autochartist plugin for the MT4 and an API trading feature specifically designed with algorithmic traders in mind.
The Authochartist plugin acts as a market scanner that accurately identifies chart patterns and uses them to identify trading opportunities and open positions. Additionally, a daily market report can be generated up to three times, simultaneously conducting volatility analysis on the market.
As well as that, it enables traders to run a thorough analysis of their performance statistics and fine-tune their approach accordingly. For retail traders, the Autochartist plugin can also be an essential tool to help them gain a competitive edge in their trading sessions. As a result, it eliminates the conditions which cause retail trader accounts to lose money in the long run.
You can deposit any amount you choose with Axi because there are no minimum requirements. However, even if you are trading with brokers with a low minimum deposit, many experts recommend adding between $100 to $200 to your trading account to ensure you get the most out of it.
If you decide to withdraw your funds on Axi, you should note that only you will be able to withdraw them. Since this can't be done by someone else, the information on the withdrawal account must match the information on your broker account for the withdrawal to be successful.
Axi has a minimum withdrawal amount of $5 that can be withdrawn, and almost any method that you use to make a withdrawal will be affected by this. Bank transfers are subject to a minimum $50 withdrawal.
You may be charged a withdrawal fee if you withdraw less than this minimum amount.
When registering on the Axi website, you must go through a fairly straightforward process where you have to fill out a short form with your personal information and submit a few documents to prove that you are who you claim to be. It will only take you a few minutes to complete this task.
Besides that, Axi Broker claims to have high security and measures that protect your personal information during the sign-up process.
Platform fees and spreads
Due to commissions and spreads that the broker charges, only floating spreads can be offered. With the Axi standard account, for example, this starts from 0.4 pips, and these prices drop again to start from 0 pips on a pro account with a reasonable $7 a side per lot traded.
The term "overnight fee" is commonly used by brokers and is a charge assessed when a position is held overnight. Because the broker deals in CFDs and charges the fee at the closing hour of the market, it is charged on pretty much every asset that is traded.
Therefore, you will need to check for exact numbers at the time since it is a fluid fee that varies with the market and asset- you can do this through the Axi trading platform.
During the trading process, additional costs exist, such as a swap fee, which is an adjustment that reflects the relative difference between the interest rates or yields on the underlying instruments. Long positions are typically charged swap fees, while short positions are paid swap fees.
Axi charges no inactivity fees. A good bonus is much better since many top brokers charge an inactivity fee when you do not trade.
Using the Axi Trading Platform, users can trade 24/7 on top markets worldwide to find opportunities and trade their edge, regardless of whether they are new to trading or experienced traders.
Moreover, traders can increase the level of reliability in their trading operations and ensure their trades are never interrupted by subscribing to Axi's VPS hosting service feature. For the best performance and the fastest latency, this server is hosted in a high-speed private data center that offers the fastest possible experience.
Since there has been a significant increase in the broker's volume in recent years, Axi Broker provides a multi-lingual staff that gives its clients personal and professional assistance 24 hours a day, 7 days a week. You can contact them in several ways, such as through live chat, email, and telephone calls, in whatever language you are fluent in, to speak with a customer care representative. In addition to supporting several languages, the official Axi Broker website includes support for MT4 as well.
Axi Account Types
Two main types of trading accounts can be opened with Axi Broker - the Standard Account and the Pro Account.
Standard accounts come with higher spreads and do not charge any commission on the trades. As a result, there is a marginal difference in spreads between the Standard Account and the Pro Account of Axi Broker. In the same way, the Pro Account provides better trading conditions than those available in the Standard Account.
While the spreads for the Standard account begin at 0.4 pips in the EUR/USD currency pair compared to the Standard account spreads in the EUR/USD currency pair, both are free of commissions and offer leverage up to 500:1.
The broker treats all its traders equally. A key principle of the platform is no up-selling, primarily because it no longer offers better trading conditions and larger deposit size.
There is no commission charged on the Pro account, but there are raw spreads.
For instance, on the EUR/USD currency pair, the spreads on the Pro Account begin at 0.0 pips. Furthermore, the raw spreads on this account are tagged with a price of $7 roundtrip, which is ideal for algorithmic traders and scalpers. Moreover, it offers a flexible leverage rate up to 500:1.
Due to this, the raw spreads on the account are highly competitive, allowing this account to charge a high commission. Additionally, the Axi Broker provides a trading environment that offers many advantages to forex traders who actively use it to trade.
As we mentioned in our Axi Broker review, it also provides a demo account with flexible options where you can adjust your account balance, base currency, and leverage if you are unsure which account type to open.
Finally, Axi Broker also supports an Islamic account that complies with all the requirements of Islamic law. With this account, you will not be charged swap fees and will have access to all the tools and assets you need when trading.
Is Axi Endorsed By Any Celebrities?
There are times in our society when it is difficult to tell the difference between truth and lies due to information overload. Unfortunately, this scenario is being played out in a way in which third parties can promote products or services they would like to sell to consumers by taking advantage of celebrities' influence to encourage people to purchase them.
Consequently, in several online communities, a rumor has arisen that Axi could receive endorsements from well-known figures in the financial sector, such as Elon Musk and Jeff Bezos, two well-known figures in the industry. However, such claims should be treated with caution to prevent the trap of any fraud lurking behind such unwarranted statements.
As of now, our research indicates that Axi is not endorsed by any celebrities yet. Therefore, whenever you are considering investing in any platform, you should analyze and consult reliable sources of information before making a decision.
How To Start Using Axi in The UAE
Register for an account
If you would like to get started on an account with Axi, you can click on the yellow 'Open Account' button on the top right of the screen on the Axi website to begin the registration process.
It will then be necessary for you to fill out a simple application form, which will ask you to supply your name and email address as well as your country of residence.
Axi Broker has developed an identity verification process that is designed to ensure that it is compliant with the regulatory requirements for KYC.
Therefore, you must upload a digital copy of proof of your identity and residency. For example, proof of identity could be a driver's license or a passport, while proof of residency could be a recent utility bill or a bank statement showing your address.
After your application has been approved, you will be able to log in and fund your account with the currency of your choice.
Axi does not have a minimum deposit amount as it gives traders control over how much to deposit and how they wish to build their portfolios. It is only a matter of the payment processor that you wish to use that determines the minimum payment amount.
The following payment methods are available for making deposits on Axi: credit/debit cards, bank transfers, crypto wallets, and Skrill. As long as the monthly value of your trading account does not exceed USD$50,000, there are no fees charged by Axi for funding or withdrawing funds from your account.
Chose an account type
Standard or Pro accounts can be selected based on their respective characteristics to determine the best fit for your needs.
Once the funds have been credited to your chosen Axi account, it is time to start trading. The easiest way to do this is to go to the Axi search bar, type in the name of an asset, choose how much you would like to invest, and finally click 'Buy.'
Axi Broker Review UAE - Our Conclusion
In summary, the Axi broker offers competitive prices and award-winning 24/5 multilingual customer service- one of the best in the market. Additionally, there is no inactivity fee at all, and you are not charged for deposits or withdrawals for the time being.
Besides, there are no requirements for opening an account with the broker or minimum deposit requirements. The only thing you need to keep in mind is that the tradable instruments of this company are mainly limited to forex and CFDs.
As a top player in the online trading industry, Axi provides a trustworthy offer thanks to its commitment to transparent and reliable service while providing essential features for traders to succeed in their trades.
Axi broker allows users to trade 30 of the most popular cryptocurrencies on CFDs, including Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash, using its platform. Trading these CFDs means you do not have to invest directly in the digital asset. Rather than speculating on the movements of the market, you will simply be trading on the movement of the price in real-time, which means you can earn a profit or a loss based on the price movement.
Does Axi use algorithmic trading?
Yes, Axi is a great choice if you want to practice algorithmic trading with many features that will support your trading and provide you with a great environment. For example, the Authochartist plugin that the company offers for MT4 acts as a market scanner that can identify accurate patterns on charts and then use these patterns for the identification of trading opportunities as well as open positions. Furthermore, it allows traders to analyze their performance statistics in-depth to fine-tune their approach according to the results.
Is Axi regulated in the UAE?
Yes, it is. Its customers can trade with complete trust and transparency since Axi broker is regulated in the UAE by Dubai Financial Services Authority (DFSA) under reference number F003742.
Can you use Axi to trade forex?
The broker is mainly focused on forex trading, and traders will find a wide variety of features available to assist them in achieving their goals. As a result, you can choose from a wide range of 80 currency pairs, including popular currencies such as GBP, USD, EUR, and JPY. In addition, it boasts liquidity from the biggest banks in the world on a global scale, making it a truly global platform. Further, the platform is very competitive in terms of spreads, with some being as low as 0.0 pips.
Is Axi good for beginners?
Yes, it is suitable for beginners. Axi Broker offers a large amount of high-quality, structured learning material available to them as well as regular updates on the market.
About Omar Ortiz
About Omar Ortiz
Radio producer, interested in international media, long distance communications, technology and world cultures.