Axi UK – Trade Multiple Markets with No Deposit or Withdrawal Fees

Many retail investors now rely on specialised trading platforms that allow them to trade and earn profits. Axi is one of the most reputable trading platforms in the financial services industry, with a stellar reputation over the past few years.

Below, we’ll examine how Axi works and what customers can expect to enjoy from the platform.

What Is Axi?

Since 2007, Axi has served as a forex broker and trading platform. The application was developed by AxiCorp Financial Services Pty Ltd – an Australian-based holding company with operating licenses from the Australian Securities & Investments Commission (ASIC) and the Financial Conduct Authority (FCA) – through a London-based subsidiary known as AxiCorp.

 

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

Axi offers financial products that focus primarily on foreign exchange. It touts its tight spreads, quick transaction execution, and client’s ability to enjoy access to different liquidity providers from some of the world’s largest banks.

Supported Assets

Axi allows users to trade across different markets – including forex, indices, contracts for difference (CFDs), and metals. Across these markets, the platform allows traders to access more than 150 individual assets.

Trading Platforms

Axi provides an end-to-end solution for all trades. The platform’s technology suite includes MetaTrader 4, MyFXBook, and additional application program interfaces (APIs). All trading platforms operate across different operating systems.

Copy Trading

Axi offers copy trading opportunities as an easier way to trade, manage risk, trade with trust, and ultimately trade like a pro. They provide it in partnership with London & Eastern LLP, which allows simple ways to identify and automatically copy traders.

Axi Fee Structure

Like other trading platforms, Axi charges fees for its services. The platform groups fees based on the customers’ trading account type – which can be a Standard account, a Pro account, or an Elite account.

Users of the Pro account are to pay a commission of £4.50 per lot per trade. The platform also charges spreads between 0.0 pips and 0.4 pips, depending on the trading pair. The elite account carries a similar spread structure, although trading commissions here are pegged at £2.50 per lot per trade.

Opening an account on the platform is free, and deposits and withdrawals are equally cost-free. Axi, however, levies an £10 inactivity fee. The monthly cost will begin to accrue after a year of inactivity.

Axi Trading Features

Traders looking to speculate on asset prices using Axi can get access to the following features:

Leverage

Leveraged trading allows users to “borrow” money from a trading platform to complete their trades. On Axi, most international traders can access up to 1:500 leverage, however, those traders under FCA can have leverage up to 30:1. This is competitive among forex and currency trading services and is especially beneficial for advanced traders who want to improve their profitability.

Multiple Account Types

As explained earlier, there are three account types on Axi. The Standard account doesn’t charge commissions on trades and has a minimum spread of 0.4 pips on positions.

On the flip side, the Pro account charges £4.50 per round lot in trading commissions. Spreads also start as low as 0.0 pips on trades – a feature which makes the account ideal for scalpers and algorithmic traders.

Axi reserves the Elite account for its high-volume VIP traders. Commissions here start at £2.50 per round lot, although spreads start at 0.00 pips.

Demo Account

Axi offers a demo account that provides flexible base currencies, account balances, and leverage options. The demo account provides up to £50,000 in funds for traders to test and try their hand with it.

The demo account provides a proper simulation of a real-life Axi trading engine. Traders get access to real-time spreads and execution speeds, thus acclimatising better to the platform.

However, traders should note that the demo account is limited to 30 days.

Education and Research

Traders looking to improve their knowledge of the market can do so thanks to Axi Academy – the platform’s in-house educational service, which offers comprehensive courses designed by traders for traders.

The Axi Academy offers courses on precious metals, forex, shares, and cryptocurrency trading.

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.

Customer Support

Axi offers customer support via live chat, email, and toll-free numbers. The platform’s support team is available 24/5, with Axi claiming that its team is always accessible to anyone who wants help.

PsyQuation Premium

PsyQuation Premium is a free-for-all feature on Axi that helps users improve their profitability in the market. This tool operates using artificial intelligence and machine learning, operating as a trader’s private coach and providing access to high-quality signals and trading analyses.

Axi’s users would also love PsyQuation’s Order Flow Sentiment Indicator, which uses AI-driven analyses to analyse users’ trading histories. It alerts traders of possible mistakes in their strategy based on their previous trading behaviour, thus allowing them to enhance their strategies for the next trade.

User Experience

Axi is relatively easy to use. The platform offers a seamless signup process, allowing traders to begin their activities in less than an hour.

Axi’s users will have access to a web-based platform and a mobile app available on iOS and Android devices.

Axi Review: Conclusion

Axi’s position as one of the most reliable trading brokers is well-deserved. It is a reliable tool for trading multiple markets, from traditional options like forex to alternative assets like cryptocurrencies.

With a seamless user interface and a quick account opening process, Axi makes it easy for anyone to enter the market and speculate. Users would also love the platform’s unique offerings, including zero deposit or withdrawal fees, access to up to 1:500 leverage (and up to 30:1 for traders under FCA), and round-the-clock customer support.

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