Online Trading Broker CFDs & Forex Broker in Dubai

Axi’s trading tools transform the MT4 platform into a state-of-the-art trading terminal. On the other hand, the SVG FSA is not considered a regulator and does not supervise trading or protect traders, but allows Axi to provide its traders with much higher leverage. Should they choose the FSA SVG, British clients must rely solely on the reputation of Axi as no additional measures exist to ensure client protection. However, the time to process deposits and withdrawals takes up to five business days. For security reasons, the account name must match where the AxiTrader deposit originates to where the withdrawal is being made.

The Act created a new regulatory framework for financial services and abolished the Financial Services Authority. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. Retail Clients of AxiCorp Financial Services Pty Ltd are given the added protection of negative balance protection. This means that you cannot lose more than the amount of money invested with us.

AxiTrader Review

BlackBull Markets has no minimum deposit requirement, and $2,000 grants access to the competitive pricing environment. The core MT4 trading platform is available at BlackBull Markets and Axi, and neither broker presents an upgrade package. Traders get more value-added https://forexhero.info/ services at Axi, placing it ahead of BlackBull Markets in this category. I’m using Axis at the moment all is fine except that last time I lost almost 800USD due to the rollover.I asked them for the reclaim they said they can’t do anything about it.

• Axi is an MT4-only broker, but this singular focus provides for one of the best MT4 trading experiences in the world.
• You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money.
• A minimum deposit amount is not required to open a trading account with Axi.
• What you need to keep an eye on are trading fees and non-trading fees.
• Their actions seem to be geared towards blowing up your account.

However, trading CFDs on cryptocurrencies does have its risks as
well, such as the price of the crypto dropping whilst speculating an increase
in value. With Axi, traders can benefit from competitive cryptocurrency spreads
and 24/7 trading. Axi offers competitive trading fees with a
minimum deposit from just $0 for Standard and Pro accounts. In addition, the
broker does not charge a deposit fee for the first USD 50,000 deposited each
month. For deposits exceeding this amount, the platform charges a flat 3%
deposit fee.

What you need to keep an eye on are trading fees and non-trading fees. For your information, a ‘spread’ is the small cost built into the buy (bid) and sell (ask) price of every currency pair trade. It is also known as ‘markup’ and can also be explained as the cost of trading. The benefit of trading on the foreign exchange is that spread costs are generally very low but it’s always good to shop around to find the lowest spreads. Ultra-competitive pricing and fairer charges, so more of your money is invested in the markets. The market scanner provides statistically significant market movements and identifies important price levels that are catalysts for market movements.

Moreover, they also charges a commission for Pro accounts at a rate of $7 round
trip (USD) and a commission for Elite accounts at a rate of $3.50 round trip
(USD). It is regulated by ASIC (Australia), FCA (UK) the FSA (St Vincent and Grenadines), DFSA (UAE), and a member of the non-government Financial Commission. Insurance up to $1 million by Lloyd’s is available for the accounts larger than $20,000. I got contact from my account manager (yeah, never had one apart from TD Ameritrade) within 30 minutes if receiving account approval. They have good plug-ins for MT4 and cool analytics tools that help you be accountable (that you should if you want to be a profesional trader). Similarly to the web trading platform, Axi provides only a one-step login.

Leverage details

Axi’s range of financial instruments is slightly limited compared to other brokers, but it offers over 70 Forex pairs and we were pleased that it recently added 50 global share CFDs. Axi is a reliable broker that offers tight
spreads on its Elite account and provides access to over 140 FX pairs and
metals CFDs. There’s also a free 30-day demo account available to practice
their trading strategies without any risk. The customer support team is
knowledgeable, friendly, and professional. AXI offer a wide selection of trading assets including 50+ Forex pairs, cryptocurrencies, indices, precious metals, energies, and some commodities.

For its regulatory limitations, AxiTrader is often considered to be a high-risk broker. The perceived high risk of losing money when trading on AxiTrader has been debunked in this review. It is a financial service provided globally and is legit for users in the countries regulated under its authorities. AxiTrader and AxiCorp Financial Services Pty LTD are two different entities.

What are the spreads at this

I’m new to trading and investing, I wanted to buy Bitcoin and Ripple. Become a partner of Axi, and access cutting-edge prices to increase your profitability. Buyers use our vendor rankings to shortlist companies and drive requests for proposals (RFPs).

However, the domain of forex trading is not so easy for everyone to champion it. The Pro account also offers access to
Autochartist and Myfxbook AutoTrade. Traders can also access the Axi Copy
Trading Tool and MT4 trading platform. It is an excellent way for traders to learn
from experienced traders and improve their trading performance. The Axi Copy
Trading app is available for Android and iOS devices, allowing traders to
monitor their positions on the go.

They changed my account from Pro to VIP without informing me, resulting in higher spread and commission. The slippage on low volume trades, even with different order types, is very high. When I asked for proof of slippage due to price changes to the LP side, they failed to provide any evidence. Their actions seem to be geared towards blowing up your account. I have evidence to support my claims, including email conversations, WhatsApp chats with my account manager and screen recordings of my trading experience. MT4 is among the most popular platforms among
forex traders and is available on Axi.

The spread on this platform is floating,
meaning it changes based on market conditions. As such, spreads can be tight
during times of low volatility and widen during times of high volatility. TradingCenter provides essential information and tools for learning and trading the Global Financial Markets.

There are no maintenance fees, but traders must
keep in mind the 3% deposit fee for amounts above USD 50,000 deposited each
month. They have implemented KYC (Know Your Customer)
procedures and requires traders to submit a valid government-issued ID, and a
utility bill or another proof of address to verify their identity. Moreover,
they also follow AML (Anti-Money Laundering) policies and, in certain cases,
require traders to submit additional documents for withdrawals. Overall, AXI is a multi-featured and very competitive ECN Forex broker covering the needs of advanced and professional traders and especially as concerns intraday and automated traders.

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In addition to bank transfer, you can use credit/debit cards, broker-to-broker transfer and several electronic wallets, as well as cryptocurrencies. Axi’s base currency selection is great compared to competing brokers. Axi has low fees for trading index CFDs, while stock CFD fees are average.

Around 60,000+ traders in over 100 countries
trust the Axi Group for their trades. For the Standard account, the broker does
not charge any commission on CFD trading of precious metals and provides
spreads among the best in the industry. Using EAs and automated trading
strategies, traders can customize their strategies and trade without manual
intervention. Swap fees are a combination of interests that traders owe or earn when holding
overnight positions in their trading accounts. BlackBull Markets notes 300+ trading instruments, but it is unclear what they are.

As the broker is KYC-compliant, forex and all
other market traders must perform a one-time KYC by providing the required
documents. After that, they can start trading and making deposits and
withdrawals without difficulty. The primary regulator of BlackBull Markets is the New Zealand FMA. BBG Limited, authorized by the Seychelles FSA, caters to most international traders with a highly competitive trading environment. Axi has primary oversight from the ASIC, but the bulk of its global business derives from its unregulated St. Vincent & the Grenadines unit.

AxiTrader platforms do not require upgrades as the service delivers them with their most powerful versions. It uses MetaTrader 4 as its dominant trading platform, and this standard approach helps it attract retail traders. In addition, Axi provides several tools, such
as a forex economic axi forex broker calendar, holiday updates, contract rollovers, dividend
forecasts, and a VPS hosting service. The broker also offers access to signal
providers such as Myfxbook AutoTrade and Autochartist. Overall, Axi is a great
broker for traders who want to get started in the Forex market.

The major difference is that you can set alerts and notifications in the form of mobile push and email notifications on the desktop trading platform. To set alerts, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app’s settings), by going to the ‘Tools’ menu and then ‘Options’. Not all methods and currencies may be available for everyone; options may differ based on the client’s residency.

The Axi Copy Trading App is provided in
partnership with Pelican Exchange Ltd and London & Eastern LLP. Axi also offers swap-free accounts for traders
who follow Islamic principles. Traders can use EAs to automate their trading
strategies and manage their positions more effectively. The regulation of the broker may differ depending on the chosen jurisdiction in which you are going to open an account. The most reliable are the United Kingdom and Australia, but they have some trade restrictions that affect the amount of leverage. Saint Vincent and the Grenadines does not have the appropriate level of reliability of the regulator, but it provides a large leverage and accepts almost all traders.

For withdrawals, there are no fees for amounts higher than $50 or the full
balance withdrawal. However, some intermediary banks may charge fees, and
traders should keep that in mind. The broker also offers swap-free accounts in
which traders do not incur any swap fees for holding overnight positions.

It also allows them to see their trading performance via third-party audits. It allows the users to access the software’s benefits in running the server component and the client features. The client software sees the live streaming prices of forex currency pairs and displays their trend charts.