Axi (AxiTrader) company profile

Non-recommended broker.

Founded in 2007 in Sydney, Australia, Axi is part of the AxiCorp Group who has since grown to become one of the leading online brokers across the globe, primarily focused on products and services for retail traders with clients in more than 150 countries. Axi was previously known as AxiTrader before rebranding in 2020. Established by a group of traders, they have an understanding of what traders need and thus offer tight spreads, minimal slippage, fast execution speeds, and multi-lingual global 24-hour customer service, within a secure and highly regulated environment. The powerful and reliable trading platforms are available in numerous languages and give users access to the latest market data with multiple liquidity providers (LP’s) from 14 of the world’s largest banks, for live pricing and superior trading conditions.

Axi Regulation

Axi is a regulated broker that must be compliant with strict regulations and standards that are put in place to protect investors. The AxiTrader group includes 2 regulated companies. Axi is a trading name of AxiCorp Financial Services Pty Ltd (AxiCorp). AxiCorp holds an Australian Financial Services Licence (AFSL number 318232). AxiCorp is authorized and regulated by the Financial Conduct Authority with FCA Reference Number 509746. Axi UK must comply with the rules of the European Securities and Markets Authority (ESMA) when they are conducting their business. These rules limit the amount of leverage offered to EU clients and the way in which financial services are promoted. Client funds are held in secure and segregated trust accounts with top-tier banks including NAB and Lloyds. This means that client funds cannot be used for any other purpose by Axi such as operating costs are hedging.

Axi server location

Most servers are situated somewhere in USA. They are outside of NextPointHost X-connect financial ecosystem. We can not identify the exact location, because they are protected by slow content delivery network (CDN). It's very important to know that location of the Axi broker head office is different from the location of their trading servers. At the moment of writing this article, Axi owns these MetaTrader-4 servers:

• AxiTrader-US02-Live
• AxiTrader-US02-Demo
• AxiTrader-US03-Live
• AxiTrader-US05-Live
• AxiTrader-US06-Live
• AxiTrader-US07-Live
• AxiTrader-US09-Live
• AxiTrader-US888-Live

Server ending on "Live" is used by real traders, who trade in live markets. Server ending on "Demo" is for paper trading. It is an electronic market simulator that allows investors to practice buying and selling without risking real money. As you can see on the picture all servers have very slow connections and highest latency that we ever seen from forex broker. MetaTrader latency of 90ms is totally unacceptable in our days. Especially if we compare it with latency of Purple Trading which are member of X-connect financial ecosystem. There you can expect latency less than 1ms.

Axi final verdict

Axi (formerly AxiTrader) suffers from minor regulatory issues but remains an overall well-regulated broker. The corporate office is established in Australia, but international traders will be served from the office in St. Vincent and the Grenadines. This broker is primarily focused on the forex market and most assets for trading are currency pairs. Commodities, indices, and cryptocurrencies are available and allow for entry-level cross-asset diversification. More advanced traders will find the overall asset selection as limited. Trading conditions provided are very bad. MetaTrader latency is too high. Their research tools lack recommendations and fundamental data. In addition, customer support is only 24/5. These are main reasons broker to don't cover our criteria for quality of services. Due to this fact we are didn't made detailed test of all offered instruments. Final prize is "Non-recommended broker".