AXI: What Do Consumers Say about it?

With a daily turnover of 7.7 Trillion dollars, the forex market offers countless opportunities to elevate your financial independence. However, the existence of both honest and shabby brokers can make picking the right broker feel like searching for a diamond in a sea of rocks. But don't worry; there are tools to make this easier, and one of them is hearing from other traders. Today, we review AXI to check out what clients say about it on some high-profile platforms, including BrokersView.

AXI - An Overview

Founded in 2007, AXI is a multi-asset brokerage firm renowned for its advanced trading tools and robust regulatory framework. Based in Australia, the company started as a two-person setup and grew into a full-fledged trading company. The broker offers retail trading services across multiple asset classes, including forex, stocks, commodities, indices, and cryptocurrencies. With a diverse range of account types – Standard, Pro, Elite and Islamic – the firm strives to meet varying trader needs. These account types grant access to sophisticated trading tools, encompassing advanced charting, real-time market data, and customizable trading interfaces. AXI claims to maintain competitive trading fees across different account types and trading instruments, boasting no deposit or withdrawal charges.

AXI also supports social trading services, enabling real-time tracking and replicating trades executed by successful traders. Regulated by financial authorities, including the FCA (UK), ASIC (Australia), and DFSA (UAE), AXI adheres to stringent operational and ethical standards, safeguarding traders' funds. The company takes pride in offering a straightforward and expeditious signup process, taking less than ten minutes. Although AXI presents an array of trading platforms, individuals seeking advanced trading solutions might want to explore alternative options. The brokerage's educational resources include video tutorials, blogs, ebooks, and webinars. While clients can reach the broker via telephone and email, a live chat service is also accessible five days a week.

User Reviews

Following an exhaustive review of the brokerage firm, let us share the consensus of the public about AXI.

What People Say About AXI: A Diverse Perspective

AXI has garnered mixed customer feedback. Many customers appreciate their experience with AXI. Some have been trading on the platform for several years and have encountered minimal problems. They find the trading conditions pleasant and constantly improving. The trading terminal works smoothly, and executions generally align with terms and conditions. Although spreads may not always be as narrow as advertised, most deem them acceptable.

A significant number of clients express satisfaction with AXI's user-friendly features. For instance, one trader from Vietnam lauds the platform's instant bank deposits and withdrawals, which add to the convenience of trading.

Another highlight is the seamless registration process, particularly the digital approach, which ensures a smooth onboarding experience for new traders. 

Customers find comfort in the stability of AXI's servers, efficient execution, and reliable customer care. 

In regions like Kenya, the availability of the MPESA deposit option has been commended for its convenience and speed.

Many traders also laud AXI for its favorable conditions when trading specific instruments. For example, some find it best for dealing with XAUUSD due to its Standard account type, offering tight spreads and no commission fees.

A client named Nobin Roy shares his journey to AXI from Lesser-Known to Most Reliable. At first, he traded with renowned brokers offering commissions and cashback but faced liquidity issues. Now, AXI's smooth liquidity and prompt communication won him over. He urges others to give AXI a chance too.

May also share the perspective that despite starting as an AXI affiliate pro with positive experiences regarding spreads and quick withdrawals, she faced issues with commission withdrawal for bringing in clients since June 2022. However, her account manager's efficiency in resolving other issues and AXI's global reputation offer hope for a successful resolution.

Furthermore, Michael praises the simplicity of opening a live account with just one electronic verification. Axi's fast and efficient registration, requiring only essential documents, left a positive impression.

Despite the positive aspects, there are some negative comments from customers. A few have criticized AXI's relatively small foreign exchange trading volume. 

In contrast, others question the limited availability of demo accounts, which may not be ideal for newcomers seeking more time to practice.

Also, Mario finds it somewhat old-fashioned and challenging to locate specific functions like adding assets to the watch list.

Some traders have encountered issues related to customer support. The efficiency of resolving customer problems is slow, leading to dissatisfaction. 

Moreover, there have been complaints about account closures without valid reasons and difficulty withdrawing funds. Traders claim that AXI considered their trades illegal and subsequently canceled the order, leading to a dispute.

Negative comments also touch upon administrative challenges and restrictive options for deposits and withdrawals in certain regions, such as Vietnam. 

Moreover, users encountered password changes in all their accounts, rendering them unable to trade. Initially impressed by low spreads and quick deposits, they faced prolonged delays and frustration in withdrawing funds. The issue remains unresolved despite multiple interactions with support, leaving them dissatisfied.

Some traders expressed frustration with the lack of flexibility in deposit methods, citing regulatory standards as the reason for limited options.

Bottom Line

Feedback from traders on several top-of-the-line social interaction platforms underscores AXI's reliability and reputation, applauding the broker's competitive trading fees, exceptional customer service, and advanced trading tools. However, people also raise concerns about AXI's limited product offerings and the absence of specific popular trading platforms. Overall, AXI appears to be a favored choice among traders seeking a dependable, esteemed online broker equipped with advanced trading tools and a resilient regulatory foundation. However, prospective customers must still do their due diligence before signing up with AXI.