Axi, an Australian forex broker established in 2007, was formerly known as AxiTrader. In 2020, the new “Axi” brand was introduced. Several financial regulators govern Axi worldwide, including the Dubai Financial Services Authority, the Australian Securities and Investments Commission, and the Financial Conduct Authority of the UK (DFSA). The fact that numerous prestigious agencies govern Axi signifies its security. The list of best forex brokers in uae provided by the traders union article.
Due to leverage, CFDs carry a significant risk of losing money quickly. 73.9 percent of retail investor accounts that trade CFDs with this service experience losses. It would help if you thought about your understanding of CFDs’ operation and ability to bear the substantial risk of financial loss.
Cons and Benefits
Pros
There are disadvantages, but there are also apparent benefits.
These include the fact that you won’t need to make a minimum deposit and that you’ll have access to a wide range of base currencies, including all the AUD, CAD, CHF, EUR, HKD, JPY, NZD, PLN, SGD, and USD, with which to take advantage of a high level of liquidity at some of the fastest execution speeds in the sector.
Regarding value, working with a Pro account will result in a spread as low as 0 pip, and using a Standard account will result in a spread as competitive as 0.4 pip. The broker offers various VPS options, including ForexVPS, MetaTrader VPS, BeekSFX VPS, and CNS.
Cons
There are a few things to consider while considering the broker’s drawbacks or restrictions. Some seasoned traders might be concerned by the slightly more than 130 available assets, although the list does cover cryptocurrencies, commodities, indexes, and currency.
Depending on where you live, only experienced traders may be able to trade cryptocurrency.
When comparing the research area to others, we can say it lacks some depth. It is also not available in every language supported, and the social and copy-swapping aspects are also limited. Finally, withdrawal periods have occasionally been observed to last three days or longer.
Trading Axi Fees
Depending on the type of account you have, Axi (AxiTrader) charges spreads, overnight fees, commissions, and inactivity fees
depending on the kind of your account) and inactivity charges. Let’s examine their key accusations in greater detail:
According to oanda reviews it considered low risk and has trust score of 92 out of 99.
Spreads
Axi adjusts its introductory offer based on the type of account a trader opens while offering dynamic spreads in all of their accounts, which are spreads that are continually changing.To make a thorough comparison, we chose to combine all of their fees across all accounts and contrast them with the same standard provided by other top brokers.
Regarding spreads, Axi’s spread for the EUR/USD currency pair generally floated at around 1.4 pip, while it was 0.6 pip for other competitors’ regular accounts.
Fees & Commissions
The commissions of Axi (AxiTrader) were compared to some of their most well-known rivals as follows:
In conclusion, the Elite account offering from Axi, which carries a hefty $25,000 price tag, makes a tremendous impact.
Available Axi Assets
Axi outnumbers the bulk of brokers out there in terms of available assets. For a comparison of Axi’s assets with some of its most well-known rivals, see the table below:
The asset offering from Axi (AxiTrader) is geared toward FX traders with high net worth. They undoubtedly become a desirable option for seasoned currency traders with their impressive Pro, Elite account offers, and 140+ currency pairings. OANDA is well known to experienced traders in the forex market according to oanda reviews and ratings.
On the other hand, they are well behind their rivals in almost every other asset class.
Trading Platforms Axi
Axi (AxiTrader) is a broker for MetaTrader 4. indicating that the firm known as MetaQuotes Inc. provides its platform. However, their main selling point is their account and commissions provided when combined with MetaTrader 4. They also provide their unique platform only for mobile devices that supports copy trading capability.
We could not access the site in English without a VPN while opening the Demo account from Germany because trying to switch to English results in error and kicks us out of it.
