Axi Broker Review

Editor Editor:  Chris Cammack Updated: Dec 4, 2023
Author Author:  Jeffrey Cammack

Last Updated On Dec 4, 2023

Jeffrey Cammack
Broker Score
4.44 4.44 / 5
Rated #15 of 70 Recommended Brokers
🏦  Min. DepositUSD 0
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertAccepts Nigerian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA.

Last Updated On Dec 4, 2023

Jeffrey Cammack

75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website you agree to our Terms of Service.

Our verdict on Axi

Axi (formerly Axitrader) is an Australian CFD broker regulated by ASIC, the FCA and the DFSA. Axi offers clients CFD trading on Forex, metals, commodities, cryptocurrencies, and indices – a smaller range than most brokers but with a good selection of 70+ Forex pairs. Axi accounts offer clients industry competitive trading costs – the Standard Account (from 0.9 pips EUR/USD) and the Pro Account (0.0 pips EUR/USD + 7 USD commission).

Although Axi limits its platform choice to MT4, it offers traders free use of various powerful platform-integrated technical analysis tools, including MT4 NexGen and Autochartist, to help experienced traders and serious beginners make better trading choices. At Axi, beginners have access to high-quality, structured learning material and frequent market analysis – though neither the education nor the market research is as good as the best brokers in this space.

🏦  Min. DepositUSD 0
🛡️  Regulated By
💵  Trading Cost 
USD 10
⚖️  Max. Leverage500:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
Best Forex ECN Broker

Overall Summary

Trust Rating
111115/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
11110.54.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Welcome Bonus

Account Information

Base Currencies
Number of FX Pairs
Crypto Pairs
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
MT4 Pro Account
Trading Desk
7 USD / lot - PRO account
0.00 pips
0.10 pips
0.10 pips
Negative Balance Protection

Company Details

Company Name
AxiCorp SA Limited
Website Language
Arabic, Chinese, English, Polish, Vietnamese, Thai, Portuguese, Indonesian, Spanish
Support Language
Chinese, English
Office Locations
South Africa, Australia, United Kingdom, Singapore, Dubai, Philippines, China, New Zealand


  • Low minimum deposit
  • Tight spreads
  • Innovative trading tools


  • MT4 only
  • Limited range of assets

Is Axi Safe?

Axi maintains regulation from some top-tier regulators, including the UK’s FCA and ASIC of Australia. But Nigerians can only open their accounts with Axi’s offshore brokerage in Saint Vincent and the Grenadines, which does not regulate Forex brokers.

Regulation: Axi has an excellent reputation in the Forex trading community. However, Nigerians will be onboarded through the SVG FSA, which is not considered a regulator and does not supervise trading or protect traders, but allows Axi to provide its traders with much higher leverage. Nigerian clients must rely solely on the reputation of Axi as no additional measures exist to ensure client protection.

Safety Features: In a show of good faith, Axi segregates its client funds from its operational funds at top-tier banks and issues monthly statements to its clients. However, Axi clients onboarded through the SVG FSA will not have negative balance protection.

Axi’s Trading Assets

Axi’s range of financial instruments to trade is smaller than most other brokers, but we were pleased to find that it recently added a range of share CFDs to its offering. 

Limited Assets: While Axi does offer a selection of CFDs to trade, it only provides support for the MT4 trading platform, which is primarily a Forex trading platform. This shows in Axi’s relatively limited range of financial instruments.

Full List of Instruments and Leverage (based on the SVG FSA entity):

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Financial Instrument
Number of Assets
Stock CFDs

Forex: At Axi, you have a limited range of pairs to trade. Nonetheless, the 70+ Forex pairs include majors (EUR/USD, GBP/USD, and USD/JPY),  minors (NZD/CAD, EUR/JPY, and GBP/NZD), and exotics (EUR/NOK, USD/SEK, and EUR/ZAR).

Indices: Axi has a reasonable selection of indices in comparison to similar brokers and includes the likes of the NASDAQ, FTSE100, DAX30, and Hang Seng. 

Share CFDs: Axi recently added share CFDs to its offering – it now offers shares from the top 50 companies listed in the United States, the United Kingdom, and European markets, including popular and liquid stocks like Apple, Amazon, and Netflix. 

Commodities: Axi offers trading on a good range of commodities, including gold, silver, platinum, petroleum, and soft commodities such as coffee, cocoa, and soya beans.

Cryptocurrencies: Axi’s range of cryptocurrencies is around the industry average and includes favorites like Bitcoin, Ethereum, and Ripple, in addition to Cardano, DogeCoin, Polkadot, EOS, Chainlink, and Stellar Lumen.

Axi’s Accounts and Trading Costs

We were impressed to find that both Axi’s minimum deposits and ongoing trading costs are significantly lower than most other brokers.

Trading Costs: Axi offers three MT4 market-execution accounts, two with no minimum deposits and a professional trading account with a very high minimum deposit but extraordinarily low trading costs. The Standard Account has the trading costs included in the spread, while the Pro and Elite accounts offer tighter spreads and a small commission per trade. 

Account Trading Costs

As you can see from the table above, Axi’s trading costs are about average on the Standard Account – most good brokers will have a cost of around 9 USD per lot of EUR/USD – and lower than average on the Pro and Elite Accounts. 

MT4 Standard Account

With no minimum deposit, the MT4 Standard Account is a commission-free account where spreads start at 0.9 pips. This gives you access to over 70 FX pairs, maximum leverage of 500:1, free AutoChartist, and a free VPS service (the VPS service is subject to a minimum trading volume).

MT4 Pro account

The MT4 Pro Account is very similar to the MT4 Standard Account, with the same perks and trading assets, the only difference being that this is a commission account, with a 7 USD round trip commission on trades and minimum spreads starting at 0 pips.

Elite Account

The Elite Account is designed for more professional traders. It has a minimum deposit of 25,000 USD, spreads that start at 0.0 pips on the EUR/USD, and a commission of only 3.5 USD round trip, making it one of the lowest cost accounts in the industry. Elite account holders also have access to exclusive market analysis, free VPS services, and specialised trading tools. 


Axi’s Deposit & Withdrawal fees

Axi has many funding methods, including Nigerian internet banking in NGN. It also charges no fees for deposits or withdrawals via any method, a rare feature amongst Forex brokers.

A well-regulated broker, Axi ensures that all Anti-Money Laundering rules and regulations are followed, and as such, all non-profit withdrawals are returned to the deposit source.  

Base Currencies: Axi allows deposits and withdrawals in most common currencies, including NGN from Nigerian online banking and Skrill. Be aware that you will pay a conversion fee if the base currency of your account is anything other than your deposit currency. 

All deposits and withdrawals are free of charge, and you can fund your account via:

  • Debit and Credit Cards – Deposits with debit and credit cards will fund your account instantly. Withdrawals are also instantaneous.
  • Bank Transfer – Deposits and withdrawals are free via bank transfers but can take up to three days to reflect. International bank transfers will take 3-5 business days for the funds to reflect in your account, and may be liable for further bank fees, which will not be covered by Axi. There is a minimum withdrawal of 50 USD via bank transfer.
  • Crypto: Deposits and withdrawals are free, but there is a minimum withdrawal amount of 30 USD.
  • Neteller/Skrill: Deposits via Neteller and Skrill are instant and free, and withdrawals as well. There’s is a minimum withdrawal amount of 5 USD for both methods.
  • Nigerian Internet Banking: Axi only accepts NGN deposits and withdrawals from Nigerian online banking services, but charges no fees. Deposits are instant, but withdrawals can take up to three days and there is a minimum withdrawal amount of 5 USD.
  • AstroPay: Axi accepts deposits and withdrawals with AstroPay starting from 5 USD (for both deposit and withdrawal). Funds are available instantly, and using this service with Axi is free. 

Withdrawals are generally processed within 1-2 days, and funds will only be returned via the same method as the deposit. All withdrawal requests must be made from within the client portal.

Axi Mobile Trading Platforms

Axi recently launched its own mobile app, but this is not yet available in Nigeria. Traders will have to use the MT4 app on Android and iOS instead.

Although Axi only supports the MetaTrader 4 (MT4) platform, it is truly customisable, with a range of tools and plugins that can be added to the platform to make it more powerful.

We tested Axi’s MT4 app on an iPhone 11 and found that it synced well with the desktop and web trader versions. It allows traders to monitor and modify their trades, manage their accounts, add stops to positions, and delete orders. Traders can also follow the latest research and trends on real-time charts. 

Axi’s Other Trading Platforms

Axi is an MT4-only broker, but this singular focus provides for one of the best MT4 trading experiences in the world.

The main benefit of using third-party platforms such as MT4 is that traders can keep their own customised versions of the platforms should they choose to migrate to another broker. MT4 is available for Windows, Mac, and web browsers. Axi’s trading tools transform the MT4 platform into a state-of-the-art trading terminal. Read the trading tools section for more details. 

Trading Platform Comparison:

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Platform Choice
Copy Trading
111104/ 5
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111115/ 5

Axi’s Trading Tools

Axi offers an excellent range of trading tools that integrate seamlessly with the MT4 platform.

Axi has a carefully selected range of trading tools that all MT4 users will find useful. While all of these tools are “free” to Axi clients, many of them are conditional on higher minimum deposits –  highlights include:


Free to all Axi clients, regardless account balance, Autochartist is an award-winning automated technical analysis tool that plugs into MT4 and scans all available CFD markets for trading opportunities.

Autochartist’s advanced pattern recognition engine identifies the strongest potential trading opportunities and predicts future price movements. Some of Autochartist’s key features are:

  • Chart pattern recognition
  • Fibonacci pattern recognition
  • Key level analysis
  • Pattern quality indication

The market scanner provides statistically significant market movements and identifies important price levels that are catalysts for market movements.

MT4 Forex VPS Hosting

Axi clients can also subscribe to an MT4 Forex VPS hosting service from external third-party providers, helping ensure trades are never disrupted by technological or connectivity issues. Prices and exact services offered vary by provider, but some are free once you hit a minimum trading volume of 20 lots PCM.

Opening a Trading Account with Axi

Opening an account at Axi is a quick and hassle-free process. Our accounts were approved within minutes which is exceptionally fast for the industry. 

All Nigerians are eligible to open a trading account at Axi but will have to follow the fully digital three-step application process. 

How to open an account with Axi:

  1. Create your login via the Axi website. You will be asked for your name, email address, country of residence, and phone number.
  2. You are allowed here to choose a base currency and your maximum leverage. You can choose from 100:1 to 500:1.
  3. Then, you have to provide your physical address. 
  4. Disclose your current employment status.
  5. There is also a form about the state of your finances, which is quite responsible on Axi’s part. This protects traders from losing money they cannot afford to lose.
  6. The last step is to confirm you have read the Client Agreement, Financial Services Guide, Privacy Policy, Product Schedule and Axi Select Terms of Service.
  7. Once your application is approved, you can log in and fund your account in the base currency of your choosing. 

Compared to other similar brokers, Axi’s account opening process is fast, hassle-free, and fully digital. 

Axi’s Research and Analysis

We found that Axi’s market analysis is less frequent than many other large international brokers, but the quality is excellent.

Aside from a perfectly functional Economic Calendar, Axi also runs a Online Trading Blog and Global Market News area on the website which features regular analysis, both technical and fundamental, as well as educational pieces and features. The regular analysis includes a weekly market preview, charts of the day, charts of the week, and a daily briefing on the market open.

Overall, not as in-depth as you may expect from a broker of this type, but all analysis is solid and well-written.

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Display Name
Research Team
Daily Market Commentary
Forex News
Analysis Webinars
In House
In House
IC Markets
In House


Axi’s Educational Content

Axi’s trader education is better than most other ECN brokers, with detailed information in video and text format for both beginners and more experienced traders. It also offers a free demo account, but keep in mind it expires in 30 days.

Trader education at Axi is detailed and flexible, available in both written and video format. Highlights of the education available include:

  • Video tutorials on demand 
  • Courses available in 24 languages
  • An eBook with a simple lesson structure
  • Frequent tests to monitor your progress
  • Frequent webinars on both basic and advanced topics

Subjects covered include:

  • Forex trading basics: Currency pairs, leverage, spreads, opening/closing trades
  • Analysis techniques: Charts, technical analysis, support/resistance, using indicators and oscillators to support trading strategies
  • Developing a trading strategy: Including day trading, news trading, trend trading and more
  • Trading psychology: Risk management, greed and overcoming the fear of loss

While Axi’s educational content is not as broad or as deep as the best trading educators, like BDSwiss or IG Markets, it is still better than most ECN brokers and will be useful for both beginners and experienced traders.

Demo Account

Axi offers a demo account with a virtual balance of $50,000 that remains open for 30 days. While using your demo account, Axi will provide you with a dedicated account manager to assist you and answer any questions you may have. The demo account is an opportunity to experience Axi’s services without risking your money – many brokers offer unlimited demo accounts, but without the dedicated account management service.

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Beginner Course
Advanced Course
Well Structured Education
Education Quality
IC Markets

Axi’s Customer Support

All new and existing clients have dedicated account management and access to customer support 24 hours a day, Tuesday to Friday. On Mondays, Axi’s support opens at 9 AM AEST.

Axi’s team of dedicated support specialists is available via telephone, email, and live chat. Toll-free numbers are available in Australia, China, Germany, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore, Spain, Thailand, and the UK.

This support will help you get started and learn how to trade at any time of day that suits your schedule. For the purposes of the review, we tested the live chat and email services. Our email was answered within hours to our satisfaction. The live chat agents were also responsive and highly knowledgeable.

Safety and Industry Recognition

Regulation: Axi (formerly AxiTrader) is an ECN-only Forex and CFD broker founded in Sydney in 2007. Axi has expanded rapidly since its foundation and has become one of the most respected brands in Forex and CFD trading, with over 42,000 traders on its books and satellite offices in London, Dubai, Singapore, Germany, and China. See below for a list of Axi registered companies:

  • AxiTrader Limited is incorporated in St Vincent and the Grenadines and registered with the FSA (number 25417)
  • AxiCorp Financial Services Pty Ltd is incorporated in Australia (ACN 127 606 348) and regulated by ASIC (license # 318232)
  • AxiCorp Ltd is authorised and regulated by the FCA (licence number 509746)
  • AxiCorp Financial Services Pty Ltd (DIFC Branch) is regulated by the DFSA and holds a category 4 license


Axi has won many awards in the industry, substantiating its credentials as a safe broker.  Some recent awards include:

  • Best Introducing Broker Programme – Africa 2023 (World’s Biggest Retail Forex Awards – Holiston Media)
  • Most Innovative Trading Technology Platform UK & Best MT4 Provider UK 2022 (International Business Magazine Awards)
  • Best EMEA Region Broker 2020 (ADVFN International Financial Awards)
  • Best Forex Broker Europe 2019 (forex-awards.com

With over a decade of responsible behaviour to its clients, a large international customer base, regulation from some of the strictest authorities in the world, and ongoing industry recognition, we consider Axi a reliable and safe Forex broker. But by trading with Axi’s FSA-registered subsidiary, Nigerians will have much fewer protections than they would with other brokers.

Evaluation Process

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Axi offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review.

Each one of these is graded on 200+ metrics across seven areas of interest, and an overall score is calculated and assigned to the broker according to the diagram below:

Forex Broker Scoring

Axi Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Axi would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


For experienced traders who value simple account options, strict regulation, and the heavily customisable MT4 platform, Axi is a very tempting option. The limited demo account, single platform support, and complex trading tools on offer may put off some beginner traders, but there is no required minimum deposit and all clients get a dedicated account manager.

Education and market analysis are good, and experienced traders will appreciate the wide range of currency pairs; overall, Axi is good for serious beginner traders and more experienced MT4 users looking for a new broker.

Editorial Team


Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.


Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.


Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.

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AlertAccepts Nigerian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Axi Group is regulated by the FCA, ASIC and the DFSA.
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Broker Score
4.44 4.44  / 5
Rated #15 of 70 Recommended Brokers
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