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Axi Review

Overall, Axi is considered low-risk, with an overall Trust Score of 84% out of 100. Axi is licensed by three Tier-1 Regulators (high trust), one Tier-2 Regulator (average trust), and one Tier-3 Regulator (low trust). Axi offers three different retail trading accounts as well as Demo and Islamic accounts. Axi is currently not regulated by the CBN.

Updated : January 29, 2023

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

002 candlestick

Range of Markets

007 fees


001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question


Overall Rating

Min Deposit

USD 0 / 0 NGN



Trading Desk

MetaTrader 4



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

Axi Overview

Axi Review Overview

👉 According to research in Nigeria, Axi is a member of the AxiCorp Group, which was established in 2007 in Sydney, Australia, and has since evolved to become one of the world’s biggest online brokers, specializing in retail traders’ goods and services with customers in more than 150 countries, including Nigeria.


👉 While Axi is not regulated by the Central Bank of Nigeria (CBN), the broker is well regulated by the ASIC and FCA. In addition, while Axi does not have offices or local support in Lagos, Nigeria, traders can still access international customer support through the online website and other communication channels.


👉 In 2020, Axi was rebranded to Axi, and the broker was initially established by a group of traders, they understand what traders need and hence provide tight spreads with low slippage, rapid execution speeds, multi-lingual worldwide 24-hour customer care, and a secure and highly-regulated environment.


👉 AxiCorp Ltd., a London-based fully owned subsidiary of its Australian parent business, was established in 2012 as part of the firm’s worldwide expansion drive. Foreign currency trading is the primary emphasis of Axi, a well-established multinational collection of firms that offers financial solutions for private clients.


👉 All accounts come equipped with tight spreads and swift execution. Customers of Axi have direct access to liquidity providers from more than 14 of the world’s most powerful institutions. This Axi review will provide traders with the details that they need to consider whether the broker is suited towards their unique trading objectives and needs.


Distribution of Traders

👉 The distribution of traders for Axi is as follows:

➡️️​ Spain – 8.7%

➡️️​ Brazil – 7.1%

➡️️​ Malaysia – 6.6%

➡️️​ United Kingdom – 5.6%

➡️️​ Poland – 4.2%


Popularity among traders who choose Axi

🥇 While Axi does not have a large market share in Nigeria, the broker is still part of the Top 50 brokers that accept Nigerian traders.


Axi at a Glance 

🏛️ HeadquarteredAustralia
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2007
📱 Nigerian Office Contact NumberNone
⚖️ RegulationASIC, FCA
🔎 License Number• Australia – AFSL 318232
• United Kingdom 06378544 and FCA Ref 509746
⚖️ CBN RegulationNone
✴️ Regional RestrictionsUnited States, Canada, Iran
☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts3
📊 PAMM AccountsYes
📊 Liquidity ProvidersYes, 14 global banks
💵 Affiliate ProgramYes
📊 Crypto trading offered?Yes, CFDs
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?No
📈 Maximum Leverage1:30 for Retail Traders, 1:400 for Professionals
📈 Leverage Restrictions for Nigeria?No
💳 Minimum Deposit (₦)0 NGN
💳 Nigerian Naira Deposits Allowed?Yes
💰 Active Nigerian Trader Stats1.3 million
📈 Active Nigerian-based Axi customersUnknown
💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal Options• Credit Card
• Debit Card
• POLi
• Bank Transfers
• FasaPay
• Sofort
• Giropay
• Neteller
• Cryptocurrency
• Skrill
• Boleto
• Internet Banking
• Laos QR Payments
• Myanmar QR Payments
• AstroPay
💰 Segregated Accounts with Nigerian Banks?Yes
💻 Trading Platforms• MetaTrader 4
💰 Tradable Assets• Forex
• Share CFDs
• Indices
• Commodities
• Energies
• Precious Metals
• Cryptocurrency CFDs
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNone
👨‍💼 Languages supported on WebsiteEnglish
👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/5
👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansNone
✴️ Education for Nigerian beginnersYes
📊 Proprietary trading softwareNo
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️ Is Axi a safe broker for Nigerians? Yes
✔️ Rating for Axi Nigeria9/10
✔️ Trust score for Axi Nigeria 84%
👉 Open an account👉 Open Account

Regulation and Safety of Funds

Axi Review Regulations

👉 Axi is a registered broker and as such must adhere to all the rules and guidelines set in place to safeguard investors. Regulated businesses are part of the Axi family of firms.


👉 It is important to remember that Axi is subject to a varied set of regulations in various markets since separate authorities oversee the broker. AxiCorp Financial Services Pty Ltd. uses the trademark Axi as a trading name and the broker is regulated by:

➡️️​ The Australian Securities and Investments Commission (ASIC), with an Australian Financial Services License under AFSL 318232.

➡️️​ The Financial Conduct Authority (FCA) under reference number 509746.


👉 Because Axi is a licensed broker, it must follow the standards established in place to protect investors. The Axi family of companies includes regulated enterprises. Keeping in mind that Axi is subject to different sets of rules in different markets is critical since they are regulated by different agencies.

Account Types and Features

Axi Review Trading Accounts

👉 Axi offers traders the option to choose between three live retail investor accounts, namely:

➡️️​ Standard Account

➡️️​ Pro Account

➡️️​ Elite Account


Live Trading Accounts

Standard Account

👉 The Standard Account is Axi’s entry-level account for traders of all skill levels looking for the best trading conditions at a price that is comparable with other brokers. 


Account FeatureValue
💳 Account setup costsNone
📈 Average spreadsFrom 0.4 pips
💸 Commissions on tradesNone
📈 Minimum Position Size0.01 lots
💵 Minimum deposit requirement0 NGN
💰 Range of marketsAll
📲 Mobile trading offered?Yes
📱 MT4 NextGen offered?Yes
🚀 Martin and Leverage offered?Yes, up to 1:30 for Retail clients and 1:400 for Professional traders
💸 Account Base CurrencyAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
✔️ Demo trading availability30 Days
📈 VPSYes, free
🤝 Expert Advisors offered?Yes
📉 AutoChartistYes
💻 Myfxbook AutoTrade offered?Yes
💳 PsyQuation offered?Yes
💰 PsyQuation Premium offered?Yes


Pro Account

👉 The Pro Account is designated for professional traders who are well-versed in how the financial markets work, who have effective risk management, and tested strategies.


Account FeatureValue
💳 Account setup costsNone
📈 Average spreadsFrom 0.0 pips
💸 Commissions on trades$7 round trip
📈 Minimum Position Size0.01 lots
💵 Minimum deposit requirement0 NGN
💰 Range of marketsAll
📲 Mobile trading offered?Yes
📱 MT4 NextGen offered?Yes
🚀 Martin and Leverage offered?Yes, up to 1:30 for Retail clients and 1:400 for Professional traders
💸 Account Base CurrencyAUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
✔️ Demo trading availability30 Days
📈 VPSYes, free
🤝 Expert Advisors offered?Yes
📉 AutoChartistYes
💻 Myfxbook AutoTrade offered?Yes
💳 PsyQuation offered?Yes
💰 PsyQuation Premium offered?Yes


Elite Account

👉 The Elite Account is perfect for wholesale and professional traders, offering the following features and benefits.


Account FeatureValue
💳 Account setup costsNone
📈 Average spreadsFrom 0.0 pips
💸 Commissions on tradesFrom $3.50 round trip
📈 Minimum Position Size0.01 lots
💵 Minimum deposit requirement10,400,000 NGN equivalent to $25,000
💰 Range of marketsAll
📲 Mobile trading offered?Yes
📱 MT4 NextGen offered?Yes
🚀 Martin and Leverage offered?Up to 1:400
💸 Account Base CurrencyUSD, EUR, GBP, AUD
✔️ Demo trading availability30 Days
📈 VPSYes, free
🤝 Expert Advisors offered?Yes
📉 AutoChartistYes
💻 Myfxbook AutoTrade offered?Yes
💳 PsyQuation offered?Yes
💰 PsyQuation Premium offered?Yes


Demo Account

Axi Review Demo Account


👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 


👉 There is a certain degree of risk involved when trading financial markets and Axi offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.


👉 Traders who register a demo account with Axi need to note that the demo account is only available for 30 days.


Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.


👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.


👉 As a reputable broker, Axi is committed to providing outstanding service to all its customers, no matter where they reside. Nigerian Traders of the Islamic religion may create an account with Axi that is swap-free and interest-free to guarantee that the broker’s service is accessible to them.


👉 After being accepted for an Islamic account, Nigerian traders will get a Trading Notice explaining the account’s interest-free nature and basic terms and restrictions.


👉 Please be aware that Axi maintains the right to monitor interest-free accounts to ensure they are being used in good faith and for the intended objectives, and to contact traders personally if the broker detects any abnormalities.


Overall Rating

Min Deposit

USD 0 / 0 NGN



Trading Desk

MetaTrader 4



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

Account Registration

Axi Review Account Registration

👉 To register an account with Axi, Nigerian traders can navigate to the official website of Axi and select the option to open an account from the homepage. Traders will be required to complete an online application where they need to provide some personal information, information about their source of income, and more.


👉 In addition, traders must provide a copy of their identity document and proof of residence as a part of the KYC procedure. Once traders have submitted their documents, their application will be reviewed and subsequently approved, if everything is in order.


Axi Vs FXTM Vs XM – Broker Comparison

📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• MetaTrader 4
• MetaTrader 5
• FXTM Trader
MetaTrader 4
💰 Withdrawal FeeNoneYesYes
📈 Demo AccountYesYesYes
📊 Min Deposit2,000 NGN10,000 NGN0 NGN
💰 Leverage

💳 Spread0.0 pips0.0 pips0.0 pips
✴️ Commissions$1 to $9From $0.4From $3.5
💳 Margin Call/Stop-Out50%/20%, 100%/50% (EU)60%/40%, 80%/50%From 90%/50%
📊 Order ExecutionMarket, InstantMarket/InstantMarket
💰 No-Deposit BonusNoNoNone
💰 Cent AccountsNoNoNo
📊 Account Types• Micro Account
• Standard Account
• XM Ultra-Low Account
• Shares Account
• Micro Account
• Advantage Account
• Advantage Plus Account
• Standard Account
• Pro Account
• Elite Account
⚖️ CBN RegulationNoNoNone
💵 NGN DepositsYesYesYes
💳 Nigerian Naira AccountNoYesNo
👥 Customer Service Hours24/524/5
🛍 Retail Investor Accounts433
☪️ Islamic AccountNoYesYes

Trading Platforms

Axi Trade Trade Accounts


👉 Axi provides numerous versions of the well-known MetaTrader 4 (MT4) trading platform. MT4 is accessible on a variety of platforms, including desktop (Windows, Linux, or Mac), online (several internet browsers), and mobile (iPhone, iPad, Android, Tablet).


👉 Whether traders choose to trade on a desktop or mobile device, MT4 is compatible with any preferred technology and operating system. It has a plethora of pre-installed tools and customizable functionality.


👉 This is the most widely used version of MetaTrader 4, which is used by millions of traders worldwide to trade the financial markets. Traders can access Axi’s entire range of trading instruments using the high-performance MT4 platform. To begin trading, just download and install MT4 for PC or Mac and log in to the trading account.

Axi Range of Markets

Axi Review Range of Markets

👉 Axi offers a wide range of markets that spans these asset classes:

➡️ Forex

➡️️​ Share CFDs

➡️️​ Indices

➡️️​ Commodities

➡️️​ Energies

➡️️​ Precious Metals

➡️️​ Cryptocurrency CFDs

Axi Broker Comparison for Range of Markets

🔨 Precious MetalsYesYesYes
💰 ETFsNoNoNo
📊 CFDsYesYesYes
📈 IndicesYesYesYes
💵 StocksYesYesYes
💳 CryptocurrencyYesNoNo
💰 OptionsNoNoNo
💸 BondsYesYesYes
🔋 EnergiesNoNoYes

Trading and Non-Trading Fees

Axi Review Trading Fees


👉 The spreads that Nigerian traders can expect from Axi will depend on the trading instrument, the account that is being used and the overall market conditions. Typical spreads that Nigerians can expect are:

➡️️​ Standard Account – variable, from 0.4 pips

➡️️​ Pro Account – variable, from 0.0 pips

➡️️​ Elite Account – variable, from 0.0 pips


👉 Commissions on trades when trading with Axi are as follows:

➡️️​ Pro Account – From $7 per round turn, which is $3.50 per side.

➡️️​ Elite Account – From 3.5 per round turn, which is $1.75 per side.

Overnight Fees, Rollovers, or Swaps

Axi Review Overnight Fees


👉 Nigerian traders can view the live overnight fees and live spreads for different financial instruments from their MetaTrader 4 trading platform. Traders who trade CFDs must note that there are overnight charges on Future CFD contracts as well.


Deposit and Withdrawal Fees

👉 Deposit fees are charged on card payments when Nigerian traders exceed a monthly limit equivale to $50,000. In such cases, a fee of 3% will be applied to the transaction while all transactions below this amount remain free.


👉 Withdrawals are free if they exceed the minimum of $50, or the overall trading balance of the account. If withdrawals are made in fewer amounts, traders are subject to an administration fee of $25.


Other Fees

👉 If there is no trading activity on a trading account for 12 consecutive months, there will be an inactivity fee charged of 10 units of the base currency of the account. If the account balance reaches zero, Axi can close the account without notifying the trader.

Deposits and Withdrawals

Axi Review Deposits And Withdrawals

👉 Axi offers the following deposit and withdrawal methods:

➡️️​ Credit Card

➡️️​ Debit Card

➡️️​ POLi

➡️️​ Bank Transfers

➡️️​ FasaPay

➡️️​ Sofort

➡️️​ Giropay

➡️️​ iDEAL

➡️️​ Neteller

➡️️​ Cryptocurrency

➡️️​ Skrill

➡️️​ Boleto

➡️️​ Internet Banking

➡️️​ Laos QR Payments

➡️️​ Myanmar QR Payments

➡️️​ AstroPay

Axi Education and Research

Axi Review Education And Research

👉 The educational materials that Nigerian traders can expect from Axi include:

➡️️​ MetaTrader 4 Video Tutorials

➡️️​ Free eBooks

➡️️​ Axi Trader’s Blog

➡️️​ Axi Academy

➡️️​ Trading Courses

➡️️​ Trading Education

➡️️​ Trading Tools and Resources


👉 Axi offers advanced traders the following tools and features:

➡️️​ Essential market news

➡️️​ Market analysis

➡️️​ Expert commentary

➡️️​ VPS Hosting

➡️️​ Social Trading and Signal Providers

➡️️​ PsyQuation

➡️️​ PsyQuation Premium

➡️️​ AutoChartist

➡️️​ MT4 NextGen

Overall Rating

Min Deposit

USD 0 / 0 NGN



Trading Desk

MetaTrader 4



Total Pairs


Islamic Account


Trading Fees


Account Activation Time

24 Hours

All About Axi’s Rebate System

All About Axi's Rebate System

How much rebate can I pay back?

👉 Rebate percentage can be set to be anything between 0% and 100%.


Payment schedule

👉 Rebates are paid daily to the selected referred clients who have closed any trades within the last 24 hours. Daily payments need to be approved by the partner.


👉 Once rebates are set up from your PA, rebates will be automatically calculated for the selected referred clients every time you receive rewards. Total daily rebates will then await your approval in the Approval section of the Rebates tab, or be automatically distributed if you have selected automated approval on rebates for specific referred clients; more information about this is available in the article about how to manage rebates.

Alternative Brokers to Axi

Alternative Brokers to Axi

➡️ TD Ameritrade

➡️ AvaTrade 

➡️ ACY Securities


➡️ Pepperstone

➡️ Webull

How To Minimize Risk While Trading? 

How To Minimize Risk While Trading? 

1. Use Stop Losses

👉 A stop loss is a trading technique that takes you out of losing trades at a predetermined level in order to limit your losses. Utilize stop losses to ensure a 1:1 risk-reward ratio and above in all your trades in order to limit losses and maximize profits on each trade. For example, if you’re setting your stop loss at 50 pips below your entry point, set your take profit at least 50 pips above your entry point.


👉 A 1:2 risk-reward ratio and above will ensure that you remain profitable even if the majority of your trades are losing trades. Using a 1:2 risk-reward ratio means that you should place your stop loss at 100 pips if you have a profit target of 200 pips and so on.


👉 If you are a more aggressive trader, you can use a 1:3 risk-reward ratio, where you risk 100 pips for a profit target of 300 pips.


2. Use Proper Lot Sizes

👉 Trading using proper lot sizes is crucial to your success as a trader. That’s because the lot size determines the value of each point of the currency pair you are trading. A standard lot typically refers to 100,000 units of the base currency you are trading. Therefore, trading a standard lot of the EURUSD currency pair puts the value of each point at USD 100.


👉 The lot sizes you trade should be proportionate to the amount you are willing to risk on each trade, which is directly related to the size of your account and your risk appetite.


3. Control Your Losses

👉 You should only risk 2% or less of your trading account on each trade. This will ensure that you can survive any losing streak while minimizing the drawdown on your trading account.


👉 Remember: losses in forex trading are not linear. A 50% loss would require a 100% gain in order to recover your original trading account level.


4. Use Leverage Carefully

👉 Most forex brokers offer to trade with leverage, and with Exness traders can enjoy up to 1:Unlimited leverage. While trading with leverage is one of the great advantages of trading forex, it can also increase the risk of losses if used incorrectly. Leverage works as a ratio, meaning that if you trade with USD 10 at a leverage of 1:50 your market investment will be USD 500. This means that, if your investment moves in a favourable direction, your profits would be 50x bigger than they would have been without leverage. However, this also means that your losses if the currency moves in an unfavourable direction would be 50x greater as well. Traders are therefore reminded to apply leverage with care.


5. Choose The Time Of Day That You Trade

👉 Most traders tend to ignore the impact of the time of day that they trade. However, traders who are active during periods of less volatility tend to be more profitable than traders who trade during periods of high volatility.


👉 The high volatility periods for different currency pairs vary, but can generally be summarized as the opening hours of the Asian sessions, the London/European sessions, and the New York/American sessions.


👉 Experienced traders who are trading European currency pairs, such as EURUSD and GBPUSD, typically trade during off hours from 7PM to 11AM GMT. However, this data applies to range of traders who trade following the existing trends but might differ for traders using other trading strategies, such as scalping.


6. Buy The Rumor, Sell The News

👉 Many traders like to stay abreast of news that affects the forex market, but this is very hard to do given that it is near-impossible to accurately predict what will happen at any given time across the globe. However, experienced traders typically keep abreast of economic releases from different countries, which generally have an impact on many currency pairs.


👉 In most cases, markets typically discount the news based on investors’ expectations, which means that by the time the news is released, the big moves in the affected currency pairs would have already taken place. Therefore, it is important to make trades related to major news events way before the actual news is released.

Axi Affiliate Program

Axi Review Affiliate Program

👉 Axi offers an affiliate program that can provide affiliates with commissions of up to $1,000 per qualified client. Axi Affiliates is a simple method to make some additional money from website visitors.


👉 Axi’s commission-based referral program offers Nigerians the chance to earn money by referring consumers to the broker. If Nigerian traders become a Master Affiliate, they could earn up to $1000 CPA per qualifying customer, plus a 10% commission on Sub-Affiliate revenue.


👉 The benefits of using Axi’s affiliate program include:

➡️️​ Tiered payment structures as website traffic increases. The more Nigerians refer, the more commission they could earn per client that registers with Axi.

➡️️​ Affiliates can easily track their clients and view the overall performance of campaigns.

➡️️​ Affiliates are given banners, landing pages, and several other marketing tools to help partners draw more clients.

➡️️​ The ability to easily withdraw commissions using flexible payment methods.

➡️️​ Access to dedicated customer support throughout the Affiliate journey.

Verdict on Axi

Axi Review Verdict

👉 Axi is a reputable broker with a long list of accolades for its innovative trading tools and services. In addition to user-friendly trading platforms and a wide variety of trading instruments, they provide an exceptionally competitive trading environment.


👉 The offered Spreads are narrow, trades are executed quickly, and commissions are reasonable with this broker. Customer service and instructional resources are also available around the clock, as well as a wide range of handy deposit/withdrawal options.

Axi Pros and Cons

✔️ Pros❌ Cons
Axi is a multi-regulated and award-winning CFD and forex brokerThere are inactivity fees charged
The platforms are user-friendly and available across devicesThere is limited leverage offered to retail clients
Nigerians can deposit funds in Nigerian Naira using local deposit methodsDeposit and withdrawal fees can be applied
There are no account fees chargedThere is only one trading platform offered
AutoChartist, MetaTrader 4 NextGen, and PsyQuation are offeredThe demo account expires after 30 days
There is a comprehensive trading academy provided
There is an active and helpful Axi community provided
Signal providers and free VPS is offered

Frequently Asked Questions


Is Axi a fake or scam?

No Axi is not a fake/scam is this broker is regulated by two of the strictest regulatory authorities in the world, namely ASIC and FCA.

Does Axi offer leverage and what is the maximum ratio offered?

Yes, Axi offers maximum leverage of 1:30 to retail traders and 1:400 to professional traders.

Does Axi offer an Islamic Account?

Yes, Axi offers an Islamic Account.

What is the overall rating for Axi out of 10?


Is Axi suitable for beginner and professional traders?

Yes, Axi is perfect for both beginners and professional traders.

9.6/10 - (16 votes)