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.
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.8/5
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
| 🏛️ Headquartered | Belize |
| 🏛️ Nigerian Based Office | No |
| 👍 Accepts Nigerian Traders? | Yes |
| 📅 Year Founded | 2011 |
| 📱 Nigerian Office Contact Number | None |
| ⚖️ Regulation | FSC Belize, FSC Mauritius, FCA |
| 🔎 License Number | • Belize – 000122/163 • Mauritius – GB21026376 • United Kingdom – 534484 |
| ⚖️ CBN Regulation | None |
| ✴️ Regional Restrictions | United 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 Account | Yes |
| 📈 Demo Account | Yes |
| 📈 Retail Investor Accounts | 6 |
| 📊 PAMM Accounts | No |
| 📊 Liquidity Providers | Several Partner Banks |
| 💰 Affiliate Program | Yes |
| 📊 Crypto trading offered? | No |
| 🚀 Offers a Nigerian Account? | No |
| 💻 Dedicated Nigerian Account Manager? | No |
| 📈 Maximum Leverage | 1:777 |
| 📈 Leverage Restrictions for Nigeria? | None |
| 💳 Minimum Deposit (₦) | 4,100 NGN or equivalent to $10 |
| 💳 Nigerian Naira Deposits Allowed? | No |
| 💰 Active Nigerian Trader Stats | 1.3 million |
| 📈 Active Nigerian-based Axiory customers | Unknown |
| 💰 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 Spread | N/A |
| 📈 Offers Nigerian Stocks and CFDs | None |
| 👨💼 Languages supported on Website | Thai, Portuguese, Russian, Spanish, Vietnamese, Chinese, English, Arabic |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/4 |
| 👥 Nigerian-based customer support? | None |
| 💰 Bonuses and Promotions for Nigerians | None |
| ✴️ Education for Nigerian beginners | Yes |
| 📊 Proprietary trading software | Yes |
| 💰 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
| ✔️ Is Axiory a safe broker for Nigerians? | Yes |
| ✔️ Rating for Axiory Nigeria | 8/10 |
| ✔️ Trust score for Axiory Nigeria | 90% |
| 👉 Open an account | 👉 Open Account |
Axiory Review – 13 key points quick overview:
Regulation and Safety of Funds- Account Types and Features
- Account Registration
- Axiory Vs AvaTrade Vs HotForex – Broker Comparison
- Trading Platforms
- Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- Axiory Education and Research
- Axiory Affiliate Program
- Verdict on Axiory
- Axiory Pros and Cons
- Frequently Asked Questions
Axiory 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 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 Feature | Value |
| 💳 Minimum Deposit Requirement | 4,100 NGN equivalent to $10 |
| 📈 Platforms Available for Account Type | MetaTrader 4, cTrader |
| 📊 Average Spreads on Major Forex Pairs | 0.3 pips |
| 🚀 Maximum Leverage Ratio | 1:400 |
| 🔎 Commission Charges on Trades | $6 per lot |
| 📈 Commissions on Stock CFDs | $0.04 per CFD with a minimum of $6 |
| 💰 Account Base Currency Options | EUR or USD |
| 🔨 Negative Balance Protection Offered | Yes |
| 📱 Is Hedging Allowed? | Yes |
| 💸 Minimum Forex Trading Volume | 0.01 lots |
| 👥 Maximum Forex Position Size | 1 Standard Lot or 100,000 |
| 📈 Maximum Open and Pending Positions | Unlimited |
| 💵 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 Feature | Value |
| 💳 Minimum Deposit Requirement | 4,100 NGN equivalent to $10 |
| 📈 Platforms Available for Account Type | MetaTrader 4, cTrader |
| 📊 Average Spreads on Major Forex Pairs | 0.2 pips |
| 🚀 Maximum Leverage Ratio | 1:777 |
| 🔎 Commission Charges on Trades | None |
| 📈 Commissions on Stock CFDs | $0.06 per CFD with a minimum of $8 |
| 💰 Account Base Currency Options | EUR or USD |
| 🔨 Negative Balance Protection Offered | Yes |
| 📱Is Hedging Allowed? | Yes |
| 💸 Minimum Forex Trading Volume | 0.01 lots |
| 📈 Maximum Open and Pending Positions | Unlimited |
| 💵 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 Feature | Value |
| 💳 Minimum Deposit Requirement | 4,100 NGN equivalent to $10 |
| 📈 Platforms Available for Account Type | MetaTrader 4, cTrader |
| 📊 Average Spreads on Major Forex Pairs | 0.13 pips |
| 🚀 Maximum Leverage Ratio | 1:400 |
| 🔎 Commission Charges on Trades | None |
| 📈 Commissions on Stock CFDs | $0.04 per CFD with a minimum of $6 |
| 💰 Account Base Currency Options | EUR or USD |
| 🔨 Negative Balance Protection Offered | Yes |
| 📱 Is Hedging Allowed? | Yes |
| 💸 Minimum Forex Trading Volume | 0.01 lots |
| 👥 Maximum Forex Position Size | 1 Standard Lot or 100,000 |
| 📈 Maximum Open and Pending Positions | Unlimited |
| 💵 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 Feature | Value |
| 💳 Minimum Deposit Requirement | None |
| 📈 Platforms Available for Account Type | MetaTrader 4 |
| 📊 Average Spreads on Major Forex Pairs | None |
| 🚀 Maximum Leverage Ratio | 1:1 |
| 🔎 Commission Charges on Trades | From $1.5 per lot |
| 📈 Commissions on Stock CFDs | None |
| 💰 Account Base Currency Options | EUR or USD |
| 🔨 Negative Balance Protection Offered | No |
| 📱 Is Hedging Allowed? | No |
| 💸 Minimum Forex Trading Volume | 1 Lot |
| 📈 Maximum Open and Pending Positions | 1 lot = 1 share |
| 💵 Islamic Account Conversion Offered? | Yes |
| 📉 Access given to Axiory CopyTrade? | No |
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
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
- 4.8/5
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
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
| Axiory | AvaTrade | HFM | |
| ⚖️ Regulation | FSC Belize, FSC Mauritius, FCA | Central 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 • HFM Trading App |
| 💰 Withdrawal Fee | Yes | No | No |
| 📈 Demo Account | Yes | Yes | Yes |
| 📊 Min Deposit | 4,100 NGN | 41,500 NGN | 0 NGN |
| 💰 Leverage | 1:777 Maximum | 1:400 | 1:2000 |
| 💳 Spread | From 0.13 | Fixed, from 0.9 pips | 0.0 pips |
| ✴️ Commissions | From $0.04 | None | None |
| 💳 Margin Call/Stop-Out | 50%/20% | 25%/10% | 40%/10%, 50%/20% |
| 📊 Order Execution | Market | Instant | Market |
| 💰 No-Deposit Bonus | None | No | No |
| 💰 Cent Accounts | No | No | No |
| 📊 Account Types | • Nano Account • Standard Account • Max Account • Tera Account • Alpha Account | • Standard Live Account • Professional Account Option | • HFM Nigeria Micro Account • HFM Nigeria Premium Account • HFM Nigeria HFcopy Account • HFM Nigeria Zero Spread Account • HFM Nigeria Auto Account |
| ⚖️ CBN Regulation | None | No | No |
| 💵 NGN Deposits | No | No | Yes |
| 💳 Nigerian Naira Account | No | No | Yes |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/5 |
| 🛍 Retail Investor Accounts | 5 | 1 | 5 |
| ☪️ Islamic Account | Yes | Yes | Yes |
Trading Platforms
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
| Axiory | AvaTrade | HotForex | |
| 💰Forex | Yes | Yes | Yes |
| 🔨 Precious Metals | Yes | Yes | Yes |
| 💰 ETFs | Yes | No | No |
| 📊 CFDs | Yes | Yes | Yes |
| 📈 Indices | Yes | Yes | No |
| 💵 Stocks | Yes | Yes | Yes |
| 💳 Cryptocurrency | No | Yes | Yes |
| 💰 Options | No | Yes | No |
| 💸 Bonds | Yes | Yes | Yes |
| 🔋 Energies | No | Yes | Yes |
Trading and Non-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 offers the following deposit and withdrawal methods:
️ Credit Cards
️ Debit Cards
️ Bank Transfer
️ Sticpay
️ Neteller
️ Skrill
️ Vload
️ ThunderXPay
Axiory 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 Commission | Nigerian traders do not have access to local deposit and withdrawal options |
| Axiory guarantees client fund safety and provides investor protection | Nigerian Naira is not a supported base account currency |
| Traders have a choice between retail investor accounts and powerful trading platforms | Nigerians cannot deposit funds in local currency |
| There is a range of tradable instruments offered | Crypto trading is not supported |
| There is an Islamic account offered and an unlimited demo account | There 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.
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