Axi – Top FX Platform with Zero Commission

In the last decade, investing has become even more accessible for the average trader. This is due to the proliferation of online trading platforms that offer low trading minimums, lower spreads and commissions, and great ease of use. One of these platforms is Axi.

The platform is a multi-asset broker, covering the most liquid assets of the financial markets. In this article, we will explore the Australian-based platform in detail and reveal the perks available to Saudi Arabian investors signing up on Axi.

What Is Axi?

Axi Limited operates under the umbrella of AxiCorp Financial Services Pty Ltd and is a trading platform based in Australia. The platform, one of the top-ranking online brokers, offers trading coverage for indices and commodities, like oil and gold. Investors can also buy cryptocurrency, stocks, and bonds. These assets are all traded as CFDs or contracts for differences. Why CFDs?

CFDs are a popular financial derivative instrument that allows users to trade the price movements of an asset without directly holding or owning it. All they need to do is predict whether the underlying asset would rise or fall within a timeframe. The trader’s profit or loss is determined at the end of the CFD contract.

Cryptoassets are highly volatile unregulated investment products. Always consider the risk of loss before proceeding. 

Axi has excelled since its debut in 2007 and won multiple awards as one of the best trading platforms in the CFD space. As a result, it has become the go-to spot for thousands of investors spread across 100+ countries.

Also, the platform has not lagged in its security and regulatory activities. Axi is duly regulated by the Australian Securities and Investment Commission (ASIC) and the UK’s Financial Conduct Authority.

Even more important is its top-notch customer support services. The customer support team is available 24/5, and customers can reach out to the Axi helpdesk via email, support tickets, phone calls, and social media platforms like WhatsApp. Axi’s support services are multilingual, meaning customers can be assisted even if they don’t understand English. There is also a live chat feature for real-time assistance.

Axi Fee Structure

Fees are a crucial part of an investor’s trading journey. High-cost trading platforms significantly eat into the potential profit of their investors. However, this is not the case with Axi.

Axi offers one of the lowest fee structures in the forex trading industry, but this is largely based on the user’s account type.

For ‘Standard’ account users, Axi charges zero fees and commissions. However, ‘Pro’ users must pay $7 USD  round trip. This is coupled with low spreads, which can be reduced to 0.0 pips depending on the selected currency pair and the account type.

There is also a swap-free Islamic account for Muslim traders. Muslim investors are not charged for trading. However, to access the Elite account for Muslims, investors need to have at least 25,000 EUR. Deposits and withdrawals are also free.

Zero Starting Deposit and High Leverage

Axi’s required starting deposit is unique. The platform allows users to open an account with zero funds in their account. Even more impressive is the leverage it offers.

Traders of its CFD assets can easily enjoy leverage up to 500:1. This is quite high and shows the platform’s strong liquidity portfolio. Leveraged trading allows investors to borrow from online brokers to increase their positions. The idea is to earn more when the trade is concluded. Given Axi’s 500:1 position, users can easily earn as much as $130 USD on $0.30 once the trade is successful. However, leverage should be applied modestly as it risks liquidating a trader’s position if the market faces a downtrend.

Axi’s Edge for Investors

Unique platform features are a norm in a densely populated online trading industry. Axi has a fleet of industry-leading tools investors have relied on to net profit while mitigating their risks.

The first is the PsyQuation. This artificial intelligence (AI) powered tool serves as investors’ personal trading coach. The tool relies on market data to minimise mistakes, identify strengths and weaknesses, and harness powerful performance analytics.

It tracks the progress of an investor’s trade by using a unique PQ Score Compare tool to contrast with other top-ranking traders. PsyQuation comes with push notification support for SMS and email and is available for use on both Live and Demo trading accounts.

Another tool that’s available on the platform is the MetaTrader 4 (MT4) trading interface. This is especially useful for advanced users who are looking for top tools to outperform the market. Axi also offers what it calls the MT4 NexGen, which comes with a set of advanced plugins specially created for its users. The MT4 NexGen offers users access to enhanced ordering, sentiment trading, and management tools.

Switching up its service, Axi also provides investors with an automated scanning software called Autochartist. This autonomously searches the financial market to spot profitable trading opportunities by reviewing an asset’s technical and fundamental performances. Think of it as a search engine on steroids.

Another tool is the Myfxbook Autotrade application. This third-party service operates as a social and copy-trading platform. This allows users to share trading ideas, follow one another, and also mirror the trades and strategies of one another. This service is offered in partnership with ZuluTrade.

Demo Account and Axi Academy

For users who are just taking their first step in the financial markets, Axi offers a demo account which features some of its top-ranking tools, like PsyQuation. With the demo account, users can access virtual funds and try out different strategies. They also obtain real-time updates via SMS, email, and the mobile app about price movements and trading ideas. However, this demo account only works for 30 days.

Understanding how overwhelming trading can be for first-time users, the Axi platform features a learning hub called Axi Academy. This academy exposes new and old traders to free trading courses offered as written content and videos.

Axi Review – Conclusion

Since breaking into the spotlight, Axi has continued to push out industry-leading tools. It has been named among the best CFD brokers. This award is a clear testament to its excellent performance.

Axi requires no minimum deposit, and users can enjoy up to 0.0 pips for its Pro and Elite accounts. For those keen on getting started on Axi, investors can create a free trading account in minutes. All that is required is proof of ID, like a driver’s license and proof of residence (e.g. utility bill).

Cryptoassets are highly volatile unregulated investment products. Always consider the risk of loss before proceeding.