Axi South Africa: Easy-to-Use Multi-Asset Broker
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Asset trading platforms are a trader’s gateway into the financial market. They provide traders access to a wide range of assets while also allowing them to speculate on their prices to earn a profit. Axi, a well-known CFD broker, is one of them.
Axi has made a name for itself in the financial services sector, providing a reliable trading interface that works for beginner traders and experienced market participants.
What Is Axi? 
So, what is Axi? Axi is a short form of Axi, an Australian-based FX and CFD broker. The platform was launched in 2007 and has gone on to win multiple broker awards for its top-notch investment services. The platform services over 60,000 trading accounts spread across 100+ countries. The huge draw has been its competitive spread on trades, high leverage, and zero-commission offerings.
Cryptoassets are highly volatile unregulated investment products. Always consider the risk of loss before proceeding.
Axi operates under the umbrella of AxiCorp Financial Services Pty Ltd and is regulated by the Australian Securities and Investment Commission (ASIC) and the UK’s Financial Conduct Authority (FCA).
Axi User Experience
Like many other trading platforms in its niche, Axi offers a user-friendly platform that allows anyone to get started easily. The platform’s signup process is quick and intuitive, and its trading interface is well laid out.
A demo account is available for anyone who wants to test their trading strategies before deploying them on the open market. For users who are interested in learning how the platform operates, the platform also offers tutorials and guidelines.
Supported Assets in South Africa
Like many top brokers, Axi provides exposure to several asset classes. These include forex and currencies, indices, share CFDs, cryptocurrencies, stocks, contracts for difference (CFDs), cryptocurrencies, and more.
Across all asset classes, there are over 150 individual assets supported by Axi.
Account Types in South Africa
Axi has two primary account types – the Standard account and the Pro account. The Standard account offers commission-free trades, with a minimum spread of 0.4 pips. However, Pro account users must pay $7 USD per round lot in trading commissions and 0.0 pips and above for spreads on trades.
There is an Elite account, which Axi reserves for its high-volume traders. With this account, traders enjoy commissions of $3.5 USD per round lot and spread of 0.0 pips and above.
Axi provides devout Muslims access to Axi’s Islamic accounts. These accounts were created for Muslim traders who are unable to earn interest due to their beliefs. Axi provides a no interest and swap payments as well as access to powerful trading tools; VPS Hosting, MT4, etc.
Supported Trading Platforms in South Africa
With Axi, users can trade assets using the popular MetaTrader 4 (MT4) trading service. With MT4 available across platforms and operating systems, users can access Axi’s trading engine regardless of their device.
Besides the MT4 trading platform, Axi also offers compatibility with MyFXBook and its proprietary PsyQuation platform. In addition, traders looking to trade with other platforms can integrate them into Axi using its application program interfaces (API).
Axi also features AxiCopy; its in-house copy trading platform that allows traders to mimic each others’ moves and benefit from their experience. It is a social and copy trading platform that allows investors to mirror their peers’ trading styles and strategies. To use AxiCopy, traders need to deposit at least $250 USD.
Trading Features
Traders who sign up on Axi have access to leverage. With Axi, users can access up to 1:500 leverage to potentially increase their earnings. While some countries restrict users from getting this much leverage, South African users don’t need to worry about any restrictions.
One feature that sets Axi apart from other brokers is its PsyQuation Premium offering. PsyQuation provides reliable market insight and signals to investors partaking in forex trading. It uses a mix of forecasting, quantitative analysis, and indicator research to provide valuable market insight to traders looking to ease the work of research and analysis before finding the right entry positions.
With its Order Flow Sentiment Indicator, PsyQuation Premium uses artificial intelligence to analyse traders’ moves. If they make mistakes, the tool can explain and analyse their trades.
Another great feature of Axi is the demo account available for anyone who wants to test their trading strategies before deploying them on the open market. Traders should note that the demo account only works for 30 days. Once this period is over, the demo account becomes inaccessible.
Furthermore, Axi offers educational trading content to its users. Traders seeking to expand their market knowledge can take advantage of the Axi Academy – an educational section dedicated to traders on the platform. The Axi Academy offers courses related to several fields – including cryptocurrencies, shares, metals, and forex. At the same time, traders can access articles and guides, eBooks, webinars, and market analysis tools that help to demystify financial markets and asset trading.
Fees Charged
Axi segments its fees based on users and their account types. Below is a breakdown of the charges on the platform:
| Account Type | Average Spread(EUR/USD) | Round Turn Commission (USD) |
| Standard | 1 pip | 0 |
| Pro | 0.1 pip | 7 |
| Elite | 0.0 pip | 3.5 |
Axi allows users to register for free and doesn’t charge any account maintenance fees. The platform also doesn’t charge for deposits or withdrawals – although users would most likely have to pay fees to any third-party partners involved in the payment processes.
However, users should note that Axi charges an inactivity fee. After a year of inactivity, the platform charges $10 USD monthly.
Support Services
Axi provides comprehensive support to users who might encounter problems with its platform. Users can receive support via email, live chat, and phone. The support team are always on standby 24 hours during business days.
Axi Review: Conclusion
Axi is a reliable broker and trading platform. Its multi-asset support makes it ideal for investors looking to diversify. Axi offers something for beginner traders and experienced market participants with its reliable user interface and integration of different trading platforms.
Cryptoassets are highly volatile unregulated investment products. Always consider the risk of loss before proceeding.
