Online Trading Broker CFD & Forex Broker in Australia

Trading Forex with Axi gives you several advantages, including security and negative balance protection. The broker has since grown into a multinational retail broker with offices in the United Kingdom, Australia, South Africa, and Saint Vincent and the Grenadines. It has bagged several industry awards for providing satisfactory trading services to over 60,000 loyal clients in 100 countries. In 2020 alone (FY20), the broker recorded over $2.5 trillion worth of trades. The Tribunal has granted a stay of the suspension pending final review, meaning that AxiCorp can continue to provide financial services until a final decision by the Tribunal is made. They have been operating in the industry providing service for a long time and are well-trusted by traders.

New Zealand’s Financial Markets Authority (FMA) today announces that it … Derivatives issuer licence of AxiCorp Financial Services Pty Limited … The Financial Markets Authority (FMA) has suspended the derivatives issuer licence of AxiCorp Financial Services Pty … An extensive FAQ section is also supported through the website which can answer many of the most common questions you could have. An Axi withdrawal typically can take up to two days and there is usually a $5 minimum withdrawal depending on the method you use. It is always a positive to be dealing with a respected broker that has been recognized in the industry.

You will then need to upload proof of identification and address for KYC purposes. Once verified, you will then be able to fund your account and start trading. Customer support is on hand to assist you during the process if required. I didn’t have any problems during signup and completed it within minutes.

Once open a live account, further Axi account types are categorized. Axi cater for all levels of traders with their leading trading technology being advanced enough for the more experienced traders whilst being simple enough to use for the less experienced. The powerful and reliable trading platforms are available in numerous languages.

Risk Management

I believe this is a tool that should be readily available in all platforms. You can trade on multiple variations of the popular MetaTrader (MT4) trading platform. MT4 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).

Considering the downsides or limitations of the broker, there are a few points to mention. The number of available assets at just over 130 may be a concern for some experienced traders though the list does include forex, index, commodities, and cryptocurrencies. Traders also have access to a Demo account which is a replica of a live trading account. Due to it using virtual funds, the Demo account can be considered a risk-free training account. The withdrawal method has fewer options than other best forex brokers. Axi’s withdrawal option is limited to wire transfers and e-wallets only.

• You simply complete the registration form and verify your email address.
• Derivatives issuer licence of AxiCorp Financial Services Pty Limited …
• Commodity trading is the buying and selling of raw materials, such as crude oil, wheat, corn, rice, and so on, which are important to the global economy.

The standard account requires no minimum deposit, has variable spreads starting from just 0.4 pips and charges no commission. This account does not have the lowest spreads but on the plus side, there is no commission fee. Overall, I found the cost to be the same whether you paid the commission separately or have it included within the spread. VPS hosting ensures fast execution and no downtime by making sure your platform keeps running 24 hours a day. One of Axi’s VPS partners is ForexVPS, which offers state-of-the-art SSD drives located in New York.

The MT4 mobile platform allows you to seamlessly connect your mobile device to the trading platform. You can view real-time pricing, place & manage trades, view account history, monitor positions, customise charts, set alerts and more. This is useful for those who axi forex broker need to access their account whilst on the go from differing locations. MT4 mobile is freely available to download on both Android and iOS via the relevant app stores. I personally prefer the MT4 desktop platform as it has all of the features and functionalities.

A $7.0 commission for a 1 Lot trade is similar to what other brokers such as IC Markets will charge, but it is not the lowest in the industry. An equivalent trade on a zero spread account with Fusion Markets will incur a $4.50 commission per round turn, which is, at present, among the most competitive offers within the industry. On the 2nd of January this year, the Australian regulator suspended the AFS license of AxiCorp, after the authority found that the company had failed to comply with financial services laws. With language availability, there are more than 10 languages that you can access through the broker website. These include English, Spanish, Russian, Arabic, Chinese, Thai, Vietnamese, and more. This provides for a very healthy level of language support for traders around the world.

Key Pros and Cons

There is a significant focus on market news and analysis, with tailored content delivered daily and weekly via email and social media channels. The company also administers a client-only Facebook group, The Trading Circle, which is aimed at promoting constructive conversation and fostering a supportive trading community. Axi offered markets are not just limited to forex; it also offers CFD, Gold, Silver, Oil, Commodities, Indices, and Cryptocurrencies. These multiple markets help traders to diversify their portfolio in many ways.

Axi Mobile Platform

Here you can trade all the available assets including Forex, CFDs, Spread Betting, and Metals. Before getting into the Axi review, let’s get to know about the company. It is an Australian based forex broker that allows trading forex, CFDs, and indices. You can choose from the standard or pro accounts that are flexible depending on your individual needs.

This way, the risk of fraudulent behavior by the brokerage is kept at a minimum. Axi offers very raw spreads, fair commission fees, and there are no additional fees on top of overnight financing charges. Also, there are no non-trading costs, which is a beneficial feature for traders. This is of course, one of the most respected and powerful trading platforms in the entire industry.

Trading Platform Review

This means that you cannot lose more than the amount of money invested with us. Investing in CFDs does not provide any entitlement, right or obligation to the underlying financial asset. Use one of our fast, flexible, and secure payment methods to deposit funds into your trading account. It is easier to use than it sounds, and could really provide you with some great trading insights to help manage your trading.

Myfxbook Autotrade is an online automatic analytics tool that connects with your forex trading account directly through your MT4 trading platform. It lets you analyse your trades and copy strategies from other traders. You can search for systems that meet your requirement by filtering statistics that matter the most to you.

Risk parameters are flexible and can be set according to your own preferences. Bullion Spot CFDs are also accessible against other quote currencies, such as the Australian dollar, Swiss franc, Euro, and British pound. In addition, precious metals are also available in the form of commodity futures CFDs. With these instruments, traders and investors can gain exposure to gold, silver, and copper futures markets. Traders who are looking to profit from some of the world’s most popular stocks can consider trading stock CFDs with Axi.