Overview of Axi fees and charges
It's safe to say that Axi's fees are low in general. They either don't charge a brokerage fee for things other brokers do charge for, or they only charge a small amount. This means that you can use Axi even in case you trade frequently like multiple times a week or daily.
Here's a high level overview of Axi's fees
| Assets | Fee level | Fee terms |
|---|---|---|
| EURUSD | Low | Pro Account: $3.50 commission per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours. |
| GBPUSD | Low | Pro Account: $3.50 commission per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours. |
| S&P 500 CFD | Low | The fees are built into the spread, 0.9 points is the average spread cost during peak trading hours. |
| Inactivity fee | Low | $10 per month after one year of inactivity |
Disclaimer: 73.9% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Axi fees
Axi fees explained
We compare Axi fees with its closest competitors, TMGM and Eightcap.
Axi fees
Axi trading fees
Axi's trading fees are low which makes it suitable for you even if you trade often (i.e. multiple times a week).
Let's break down the trading fees into the different asset classes available at Axi.
Trading fees
Axi's trading fees are low.
It is super hard to compare trading fees for forex brokers. What we did at BrokerChooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of an example trade for two currency pairs.
- EURUSD, a popular currency pair
- EURGBP, another popular currency pair
The example in this context would mean that you buy for $20,000 using 30:1 leverage, and sell it after a week.
This super catch-all benchmark includes spreads and financing costs for all brokers.
Here is the verdict.
| Axi | TMGM | Eightcap | |
|---|---|---|---|
| EURUSD benchmark fee | $14.0 | $14.0 | $12.7 |
| EURGBP benchmark fee | $11.1 | $11.8 | $9.8 |
Financing rates
Axi financing rates are average.
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
| Axi | TMGM | Eightcap | |
|---|---|---|---|
| Apple CFD financing rate | 6.1% | 0.0% | 2.6% |
| Vodafone CFD financing rate | 5.2% | - | - |
| EURUSD financing rate | 3.2% | 3.2% | 2.9% |
| EURGBP financing rate | 2.3% | 2.5% | 2.0% |
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
Currency conversion fee
Axi will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..
Axi fees
Axi non-trading fees
When it comes to looking at all the non-trading fees Axi is an average broker. This means that some of the non-trading fees are high, but the others are low or not charged at all.
Non-trading fees include various brokerage fees and charges at Axi that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.
| Axi | TMGM | Eightcap | |
|---|---|---|---|
| Withdrawal fee | $0 | $0 | $0 |
| Deposit fee | $0 | $0 | $0 |
| Inactivity fee | Yes | Yes | No |
| Account fee | No | No | No |
Axi fees
Axi deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and Axi is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods Axi offers.
| Axi | TMGM | Eightcap | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Deposit fee | $0 | $0 | $0 |
Axi fees
Axi withdrawal fee
Unlike some online brokers we have reviewed Axi does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
| Axi | TMGM | Eightcap | |
|---|---|---|---|
| Bank transfer | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes |
| Withdrawal fee with bank transfer | $0 | $0 | $0 |
Axi fees
Axi inactivity fee
Axi does apply an inactivity fee and it is $10 per month after one year of inactivity. This means that you need to be strategic about your trading activity to avoid getting charged after a longer time of no trade. The fact that Axi charges an inactivity fee makes it less ideal for you if you are a buy and hold investor.
Axi has low inactivity fee.
| Axi | TMGM | Eightcap | |
|---|---|---|---|
| Inactivity fee | Yes | Yes | No |
| Inactivity fee | $10 per month after one year of inactivity | $30 inactivity fee per month if your account balance falls below $500 or if it remains inactive for over six months | No inactivity fee |
Read more about Axi inactivity fee on their own site.
