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Axi Review 2024

Written by
Krisztián G.
Fact checked by
Updated
4d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
6,455 people chose this broker
Not available in United States; see best alternatives

Why choose Axi

Australia-based Axi is a low-cost forex broker ideal for those who need some extra tools to build their trading strategies.

It has low forex fees and a great forex pair selection, compensating for a less impressive CFD lineup. Opening an account is easy and no minimum deposit is required. You can choose from many account base currencies, which can save you in conversion costs.

Like most competitors, Axi uses the well-known MetaTrader 4 trading platform, but it offers copy trading and some additional analytical tools for those who like to experiment with their strategies.

  • Low forex fees
  • No withdrawal/deposit fees
  • Fully digital account opening
Overall score
4.4/5
Minimum deposit
$0
FX fee
Low
Index CFD fee
Average
Withdrawal fee
$0
Account opening
1-3 days
Visit Axi

76.3% of retail CFD accounts lose money

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EURUSD spread
Usual spread in pips

Fees

Score: 4/5
Axi has low forex and CFD fees, and deposits and withdrawals are free of charge.
  • Low forex fees
  • No withdrawal fee
  • Low CFD fees

We compared Axi's fees with two similar brokers we selected, TMGM and Eightcap. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Axi alternatives.

Low FX fees

Axi charges a forex commmission: $3.50 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.2.

Broker
EURUSD spread
FX commission per lot
Axi
0.2
$3.50 commission per lot per trade
TMGM
0.1
$3.50 commission per lot per trade
Eightcap
0.1
$3.50 commission per lot per trade
Axi forex spreads and commissions

For Pro accounts, there's a commission and a low spread cost. For Standard accounts, spreads are much wider.

Average index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.5.

Broker
S&P 500 CFD spread
Axi
0.5
TMGM
2.3
Eightcap
0.6
Axi index CFD spreads and commissions

Low inactivity fee, no withdrawal fee

Axi charges no withdrawal, account, or deposit fees. However, it applies a $/€10 monthly inactivity fee on accounts that had no open trades for a period of at least 12 months. Trading accounts with no trading activity in the past 2 years and with a zero balance will be closed.

Broker
Inactivity fee
Withdrawal fee
Axi
$0
TMGM
$0
Eightcap
$0
Axi inactivity, withdrawal and other fees

There is a 3% fee for card payments and other payment methods where deposits exceed a monthly limit of $50,000.
Withdrawals are free if they are above $50 or for the full balance of your account. Otherwise an administration fee of $25 may apply.

Safety

Axi is regulated by a number of top-tier financial authorities. It is a well-established brand but it is not listed on any exchange and it doesn't hold a banking license.
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
Read more

Deposit and withdrawal

Score: 5/5
Axi charges no deposit or withdrawal fees. You can use either bank card, bank transfer or e-wallets for deposits, but there are some withdrawal limitations for bank cards.
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
Read more

Account opening

Score: 4.4/5
Account opening at Axi is user-friendly and fully digital, but it takes a bit longer than at similar online brokers.
  • Fully digital
  • No minimum deposit
  • User-friendly
Read more

Mobile app

Score: 3.3/5
Axi has an okay mobile trading platform, provided by MetaTrader 4. It is well-designed and user-friendly, with a good search function. However, it lacks a safer login.
  • User-friendly
  • Good search function
  • Price alerts
Read more

Desktop platform

Score: 3.4/5
In design and functionality, Axi's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on it.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
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Product selection

Score: 2.3/5
At Axi, you can trade only forex and CFDs. Other popular asset classes like real stocks or ETFs are not available.
Read more
“Axi is your broker if you like the MetaTrader platform and want to trade a broad range of currency pairs at low fees. Axi can also be a good choice if you’re struggling to come up with a good trading strategy, as it has a copy trading feature and a cool suite of AI-based analytical tools called PsyQuation. It’s easy to get started with Axi, as there is no minimum deposit and you can set up a demo account to test your skills and explore the platforms.”

FAQ

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Author of this review

Krisztián Gátonyi

Forex • Market Analysis • Stock Market

I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Visit Axi 76.3% of retail CFD accounts lose money
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