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Axiory Review

Axiory, formed in 2011, gives worldwide traders a knowledgeable, courteous, and straightforward environment to enter the FX and CFDs market. The basic concept of Axiory discovered is built on transparent providing to the customers and trading community, while traders will obtain matchless and well-developed technology for its higher performance. Axiory is currently not regulated by the CBN.

Updated : July 7, 2022

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

003 responsive design

Trading Platforms

002 candlestick

Range of Markets

007 fees

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

FAQ

Overall Rating

Min Deposit

10 USD / 4145 NGN

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Axiory at a Glance

🏛️ HeadquarteredBelize
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2011
📱 Nigerian Office Contact NumberNone
⚖️ RegulationFSC Belize, FSC Mauritius, FCA
🔎 License Number• Belize – 000122/163
• Mauritius – GB21026376
• United Kingdom – 534484
⚖️ CBN RegulationNone
✴️ Regional RestrictionsUnited States, Canada, EU Countries, Japan, The Islamic Republic of Iran, Indonesia, North Korea, Belize, Russia, Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, South Sudan, Syria, Uganda, Yemen, Jordan, Mali, Turkey
☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts6
📊 PAMM AccountsNo
📊 Liquidity ProvidersSeveral Partner Banks
💰 Affiliate ProgramYes
📊 Crypto trading offered?No
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?No
📈 Maximum Leverage1:777
📈 Leverage Restrictions for Nigeria?None
💳 Minimum Deposit (₦)4,100 NGN or equivalent to $10
💳 Nigerian Naira Deposits Allowed?No
💰 Active Nigerian Trader Stats1.3 million
📈 Active Nigerian-based Axiory customersUnknown
💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal Options• Credit Cards
• Debit Cards
• Bank Transfer
• Sticpay
• Neteller
• Skrill
• Vload
• ThunderXPay
💰 Segregated Accounts with Nigerian Banks?No
💻 Trading Platforms• MetaTrader 4
• MetaTrader 5
• cTrader
• Axiory CopyTrade
💰 Tradable Assets• Forex
• Gold and Precious • Metals
• Oil and Energies
• CFD Indices
• CFD Stocks
• Exchange Stocks
• Exchange ETFs
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNone
👨‍💼 Languages supported on WebsiteThai, Portuguese, Russian, Spanish, Vietnamese, Chinese, English, Arabic
👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/4
👥 Nigerian-based customer support?None
💰 Bonuses and Promotions for NigeriansNone
✴️ Education for Nigerian beginnersYes
📊 Proprietary trading softwareYes
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️ Is Axiory a safe broker for Nigerians?Yes
✔️ Rating for Axiory Nigeria8/10
✔️ Trust score for Axiory Nigeria90%
👉 Open an account👉 Open Account

Axiory Overview

Axiory Review Overview

👉 According to research in Nigeria, Axiory, formed in 2011, gives worldwide traders a knowledgeable, courteous, and straightforward environment to enter the FX and CFDs market. The basic concept of Axiory discovered is built on transparent providing to the customers and trading community, while traders will obtain matchless and well-developed technology for its higher performance.

 

👉 While Axiory does not have a local office in Lagos, the Central Bank of Nigeria (CBN) does not regulate Nigeria, but despite this, Axiory is a reputable and well-regulated CFD and forex broker.

 

👉 Axiory has worldwide exposure because it has been in operation for a very long time, forming part of the world of trading in addition to maintaining a representative office in Dubai, which offers access to both EEA customers and the Middle East as well.

 

👉 This Axiory 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 with Axiory is as follows:

➡️️​ Japan – 54.3%

➡️️​ The United States – 4.9%

➡️️​ South Africa – 4.8%

➡️️​ Switzerland – 4.7%

➡️️​ Thailand – 4.3%

 

Popularity among traders who choose AvaTrade

🥇 While Axiory does not have a large market share in Nigeria, the broker is active across the African continent overall, which places it in the Top 100 forex and CFD brokers for Nigerian traders.

 

Regulation and Safety of Funds

 

👉 Regulators, supervisors, and enforcers of international financial service provider rules report to the FSC, a Belizean statutory entity. The FSC is closely monitoring Axiory Global Ltd so that it can ensure the safety of traders.

 

👉 Financial institutions and capital markets in Mauritius are regulated and promoted by the Mauritius Financial Services Commission. The Forest Stewardship Council (FSC) oversees and regulates the Tradit Ltd trademark as a part of Axiory.

 

👉 It is the goal of the Financial Conduct Authority (FCA) to safeguard customers in the UK financial services sector. Financial Conduct Authority (FCA) approval and regulation of London & Eastern LLP’s Axiory CopyTrade platform.

 

👉 Axiory keeps all client funds in segregated accounts, separate from the operating funds of the broker. Axiory operates with complete transparency and provides its clients with compensation. In addition, Axiory is also subject to third-party auditing that further ensures that the broker can be trusted.

Account Types and Features

Axiory Review Account Types

👉 Axiory provides traders with five account options. Individual traders’ trading goals and demands are taken into consideration while creating each account. Nigerian Muslim traders may convert any of the live trading accounts, except the Alpha Account, into an Islamic account, as well as a demo account, to practice Islamic trading.

 

👉 The live retail investor accounts that Nigerians can choose from are:

➡️ Nano Account

➡️ Standard Account

➡️ Max Account

➡️ Tera Account

➡️ Alpha Account

 

Live Trading Accounts

Nano Account

👉 Trades can be made in micro-lots without any restrictions on the number of open or pending orders a customer can have open. This is a great account for those who are new to trading or those who wish to experiment with different approaches.

 

Account FeatureValue
💳 Minimum Deposit Requirement4,100 NGN equivalent to $10
📈 Platforms Available for Account TypeMetaTrader 4, cTrader
📊 Average Spreads on Major Forex Pairs0.3 pips
🚀 Maximum Leverage Ratio1:400
🔎 Commission Charges on Trades
$6 per lot
📈 Commissions on Stock CFDs$0.04 per CFD with a minimum of $6
💰 Account Base Currency OptionsEUR or USD
🔨 Negative Balance Protection OfferedYes
📱 Is Hedging Allowed?Yes
💸 Minimum Forex Trading Volume
0.01 lots
👥 Maximum Forex Position Size1 Standard Lot or 100,000
📈 Maximum Open and Pending PositionsUnlimited
💵 Islamic Account Conversion Offered?Yes
📉 Access given to Axiory CopyTrade?No

 

Max Account

👉 This is an advanced account type that provides advanced traders with the best features and benefits to complement their trading strategies.

 

Account FeatureValue
💳 Minimum Deposit Requirement4,100 NGN equivalent to $10
📈 Platforms Available for Account TypeMetaTrader 4, cTrader
📊 Average Spreads on Major Forex Pairs0.2 pips
🚀 Maximum Leverage Ratio1:777
🔎 Commission Charges on TradesNone
📈 Commissions on Stock CFDs$0.06 per CFD with a minimum of $8
💰 Account Base Currency OptionsEUR or USD
🔨 Negative Balance Protection OfferedYes
📱Is Hedging Allowed?Yes
💸 Minimum Forex Trading Volume
0.01 lots
📈 Maximum Open and Pending PositionsUnlimited
💵 Islamic Account Conversion Offered?Yes
📉 Access given to Axiory CopyTrade?Yes

 

Standard Account

👉 This account type suits most traders and offers a range of benefits and features.

 

Account FeatureValue
💳 Minimum Deposit Requirement4,100 NGN equivalent to $10
📈 Platforms Available for Account TypeMetaTrader 4, cTrader
📊 Average Spreads on Major Forex Pairs0.13 pips
🚀 Maximum Leverage Ratio1:400
🔎 Commission Charges on Trades
None
📈 Commissions on Stock CFDs$0.04 per CFD with a minimum of $6
💰 Account Base Currency OptionsEUR or USD
🔨 Negative Balance Protection OfferedYes
📱 Is Hedging Allowed?Yes
💸 Minimum Forex Trading Volume
0.01 lots
👥 Maximum Forex Position Size1 Standard Lot or 100,000
📈 Maximum Open and Pending PositionsUnlimited
💵 Islamic Account Conversion Offered?Yes
📉 Access given to Axiory CopyTrade?No

 

Alpha Account

👉 With the Alpha Account, experienced traders and investors may become shareholders for as little as 400NGN/$1 and have access to a worldwide portfolio of stocks and shares.

 

Account FeatureValue
💳 Minimum Deposit RequirementNone
📈 Platforms Available for Account TypeMetaTrader 4
📊 Average Spreads on Major Forex PairsNone
🚀 Maximum Leverage Ratio1:1
🔎 Commission Charges on Trades
From $1.5 per lot
📈 Commissions on Stock CFDsNone
💰 Account Base Currency OptionsEUR or USD
🔨 Negative Balance Protection OfferedNo
📱 Is Hedging Allowed?No
💸 Minimum Forex Trading Volume
1 Lot
📈 Maximum Open and Pending Positions1 lot = 1 share
💵 Islamic Account Conversion Offered?Yes
📉 Access given to Axiory CopyTrade?No

 

Demo Account

Axiory 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 Axiory 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.

 

👉 With Axiory, Nigerian traders can access a practice account that offers 10,000 USD in virtual funds that can be used across three trading platforms and a range of markets. Nigerians have the chance to register more than one demo account simultaneously and the demo account is offered for an unlimited time.

 

Islamic Account

Axiory Review 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.

 

👉 Axiory offers Nigerian Muslim traders a choice between the Nano, Standard, Max, and Tera Account that can be converted to an Islamic Account. While the minimum deposit on an Islamic Account remains the same at 4,100 NGN or $10, the spreads that Islamic account traders can expect will be different as follows:

➡️ Nano Account – from 0.2 pips EUR/USD

➡️ Standard Account – from 1.2 pips EUR/USD

➡️ Max Account – from 1.8 pips EUR/USD

➡️ Tera Account – from 0.2 pips EUR/USD

 

👉 In addition, Muslim traders must note that while they are exempted from overnight fees or swaps, they will be subject to a commission charge that will offset the absence of these fees. The fees are determined by the holding period, the account, and the market conditions. The average holding charges are:

➡️ CADJPY, USDJPY, NZDCAD, AUDNZD, AUDCAD, EURJPY – $3

➡️ AUDCHF, NZDCHF, CHFJPY, CADCHF, EURCHF, EURAUD, NZDUSD, USDCHF, EURNZD, USDCAD, EURUSD, GBPJPY, EURCAD, AUDJPY – $5

➡️ AUDUSD, NZDJPY, XAUUSD, EURGBP, GBPUSD, GBPNZD, GBPCHF, GBPAUD, GBPCAD, XAGUSD, CL – $8

Overall Rating

Min Deposit

10 USD / 4145 NGN

Regulators

IFSC, MFSC and FSC

Trading Desk

MetaTrader4, MetaTrader5, CopyTrade and cTrader

Crypto

No

Total Pairs

62

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Account Registration

Axiory Review Account Registration

👉 Nigerian traders can select the option to register an account from the official Axiory website and the homepage. The link will take traders to an online application to start the registration process. Traders must complete several forms that will require their personal details, trading experience, source of funds, and identity verification.

 

👉 In addition, Nigerian traders must read and accept the Terms and Conditions, Risk Disclosure with Risk Warning, Anti-Money Laundering Policy, Trading Execution Risks, and the Privacy Policy. Once Nigerian traders have completed the forms, they must upload their proof of identity and proof of residence.

 

👉 Once submitted, the Axiory team will verify the information provided against the documents submitted and if all is in order, the account will be approved, and traders can deposit the 4,100 minimum deposit.

Axiory Vs AvaTrade Vs HotForex – Broker Comparison

AxioryAvaTradeHotForex
⚖️ RegulationFSC Belize, FSC Mauritius, FCACentral Bank of Ireland (CBI), BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA

FSCA, CySEC, DFSA, FSA, FCA, FSC, with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• cTrader
• Axiory CopyTrade
• AvaTradeGO
• AvaOptions
• AvaSocial
• MetaTrader 4
• MetaTrader 5
• DupliTrade
• ZuluTrade
• MetaTrader 4
• MetaTrader 5
💰 Withdrawal FeeYesNoNo
📈 Demo AccountYesYesYes
📊 Min Deposit4,100 NGN41,500 NGN2,000 NGN
💰 Leverage

1:777 Maximum1:400
1:1000
💳 SpreadFrom 0.13Fixed, from 0.9 pips0.0 pips
✴️ CommissionsFrom $0.04None$3 to $4
💳 Margin Call/Stop-Out50%/20%25%/10%40%/10%, 50%/20%
📊 Order ExecutionMarketInstantMarket
💰 No-Deposit BonusNoneNoNo
💰 Cent AccountsNoNoNo
📊 Account Types• Nano Account
• Standard Account
• Max Account
• Tera Account
• Alpha Account
• Standard Live Account
• Professional Account Option
• HotForex Nigeria Micro Account
• HotForex Nigeria Premium Account
• HotForex Nigeria HFcopy Account
• HotForex Nigeria Zero Spread Account
• HotForex Nigeria Auto Account
⚖️ CBN RegulationNoneNoNo
💵 NGN DepositsNoNoYes
💳 Nigerian Naira AccountNoNoYes
👥 Customer Service Hours24/5
24/5
24/5
🛍 Retail Investor Accounts515
☪️ Islamic AccountYesYesYes

Trading Platforms

Axiory Review Trading Accounts

 

👉 The cTrader platform is available to Axiory’s customers through a web browser, desktop, and mobile devices. HTML5 was used to create the Axiory cTrader website. Regardless of the screen size or operating system, it works well. PCs that have Linux, macOS, and Windows can easily download and install the desktop version of cTrader. Android and iOS smartphones may be used to download and install the mobile cTrader. Regardless of the cTrader version used, most functionalities remain the same.

 

👉 Many traders utilize the MT4 platform since it has a wide variety of add-ons and built-in capabilities. Nigerian traders can easily access Axiory MT4 from a variety of platforms, including WebTrader, mobile, and desktop.

 

👉 Traders do not need to download or install any extra software to use Axiory’s WebTrader version, which can be accessed from the company’s website.

 

👉 In comparison to the MT4 platform, the MetaTrader 5 platform has more features and functionality. Additional indications and order kinds are included in this update. The sophisticated strategy tester can backtest several currency pairings using tick data and has a depth of market pricing. Web, desktop, and mobile trading apps are all supported by the platform.

 

👉 Lastly, the Axiory CopyTrade app is available on the Max Account, offering traders the chance to follow the trading signals of professionals while professionals can earn additional income by sharing their signals.

Broker Comparison for Range of Markets

AxioryAvaTradeHotForex
💰ForexYesYesYes
🔨 Precious MetalsYesYesYes
💰 ETFsYesNoNo
📊 CFDsYesYesYes
📈 IndicesYesYesNo
💵 StocksYesYesYes
💳 CryptocurrencyNoYesYes
💰 OptionsNoYesNo
💸 BondsYesYesYes
🔋 EnergiesNoYesYes

Trading and Non-Trading Fees

Axiory Review Trading Fees

Spreads

👉 Axiory offers variable spreads that will depend on the account type, the financial instrument, and the market conditions. The average spreads that Nigerian traders can expect from the live trading accounts include:

➡️ Nano Account – from 0.3 pips EUR/USD

➡️ Standard Account – from 0.13 pips EUR/USD

➡️ Max Account – from 0.2 pips EUR/USD

➡️ Tera Account – from 0.3 pips EUR/USD

➡️ Alpha Account – None

 

👉 In addition, Islamic Account holders must note that when they convert their trading account to a Swap-Free account, their average spreads will be as follows:

➡️ Nano Account – from 0.2 pips EUR/USD

➡️ Standard Account – from 1.2 pips EUR/USD

➡️ Max Account – from 1.8 pips EUR/USD

➡️ Tera Account – from 0.2 pips EUR/USD

 

Commissions

👉 The commissions that Nigerian traders can expect when they work with Axiory is as follows:

➡️ Nano Account – $6 per lot on trades and $0.04 per CFD with a minimum of $6.

➡️ Standard Account – $0.04 per CFD with a minimum of $6.

➡️ Max Account – $0.06 per CFD with a minimum of $8.

➡️ Tera Account – $6 per lot on trades and $0.04 per CFD with a minimum of $6.

➡️ Alpha Account – from $1.5 per lot

 

Overnight Fees, Rollovers, or Swaps

👉 Axiory is transparent about its trading fees and offers Nigerian traders a comprehensive schedule of the overnight fees that they can expect. These fees differ according to the trading instrument and the asset class, and some average overnight fees are:

➡️ EUR/USD – A short swap of 0.17 and a long swap of -4.73

➡️ NASDAQ – A short swap of 0.675 and a long swap of -0.7644

➡️ XAU/USD – A short swap of -1.82 and a long swap of -4.28

➡️ XAG/USD – A short swap of -0.31 and a long swap of -0.786

➡️ Brent Oil – A short swap of -87.0471 and a long swap of 78.8458

➡️ CFD Stocks – A short swap of -2.5 and a long swap of -2.5

 

Deposit and Withdrawal Fees

👉 Axiory does not charge any deposit fees, but withdrawal fees are charged on the following payment methods:

➡️ Neteller

➡️ Skrill

Deposits and Withdrawals

Axiory Review Deposits And Withdrawals

👉 Axiory offers the following deposit and withdrawal methods:

➡️️​ Credit Cards

➡️️​ Debit Cards

➡️️​ Bank Transfer

➡️️​ Sticpay

➡️️​ Neteller

➡️️​ Skrill

➡️️​ Vload

➡️️​ ThunderXPay

Axiory Education and Research

Axiory Review Education And Research

👉 The Educational Material that Nigerian traders can expect include the following:

➡️️​ Axiory Trading Academy

➡️️​ Webinars

➡️️​ “How To”

 

👉 The Research Tools offered include:

➡️️​ Daily Market News

➡️️​ Daily Technical Analysis

➡️️​ Axiory Intelligence

Axiory Affiliate Program

Axiory Review Affiliate Program

👉 With Axiory, partners can earn industry-leading commissions on Lot Rebate and CPA. This provides partners with a flexible plan with frequent and prompt payments. Affiliates are in control of how they want to manage things while the broker offers full support of account managers along with the marketing team.

 

👉 Partners can start earning $1,000 with CPA plans along with rebate options. In addition to this, there are also several other bonuses offered to partners. Nigerians who are interested in becoming an Axiory affiliate have a choice between the following:

➡️ $10 Lot Rebate Plan that offers up to $10 rebate along with a recurring commission.

➡️ $1,000 CPA Plan that allows affiliates to earn $1,000 in the best and most competitive way

➡️ Master Affiliate allows partners to build a team that consists of sub-affiliates and Introducing Brokers, allowing them to receive 10% of generated earnings.

Verdict on Axiory

👉 Axiory is a multi-regulated broker that provides its clients access to some of the most liquid complex instruments across several asset classes. In addition, Nigerians also have the option of investing through Axiory, giving them access to hundreds of exchange stocks and Exchange-Traded Funds (ETFs).

 

👉 Axiory offers high maximum leverage ratios, tight and competitive spreads, positive slippage, and low commission charges, with the option of commission-free trading. In addition, Nigerian traders can rest assured that they are dealing with a legitimate broker that ensures client funds security, helps with risk management and is audited by reputable third parties frequently.

 

👉 To keep up with the times, the broker has adopted new technologies. Fast, secure, and well-protected, its servers are the best in the business. For sophisticated chart analysis, order processing, and automated trading, Axiory’s platforms are both strong and user-friendly.

 

👉 Axiory also accepts Nigerian traders of all experience levels and trading styles. The platforms offer mobile trading equally through smartphone applications. ECN and STP trading is provided by the broker, allowing traders to trade directly with the markets.

Axiory Pros and Cons

✔️ Pros❌ Cons
Axiory is well-regulated and a member of the Financial CommissionNigerian traders do not have access to local deposit and withdrawal options
Axiory guarantees client fund safety and provides investor protectionNigerian Naira is not a supported base account currency
Traders have a choice between retail investor accounts and powerful trading platformsNigerians cannot deposit funds in local currency
There is a range of tradable instruments offeredCrypto trading is not supported
There is an Islamic account offered and an unlimited demo accountThere are holding commissions applied to the Islamic Account
There is unlimited access to AutoChartist
Traders can use a range of trading strategies
The broker accepts Nigerian traders

Frequently Asked Questions

 

Is Axiory regulated and by whom?

Yes, Axiory is regulated by FSC Belize, FSC Mauritius, and FCA in the United Kingdom.

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

Yes, Axiory offers leverage up to 1:777.

Does Axiory offer an Islamic Account?

Yes, Axiory offers an Islamic Account conversion.

What is the overall rating for Axiory out of 10?

Overall rating for Axiory is 8/10.

Is Axiory suitable for beginner and professional traders?

Yes, Axiory is the perfect forex trading broker that is an ideal option for all types of traders.

9.5/10 - (22 votes)

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