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Do you want to know which is the better broker between Axi and xChief ?
In the table below, you can compare the features of Axi , xChief side by side to determine the best fit for your needs.
EURUSD:-0.6
EURUSD:-1.9
EURUSD:51.09
XAUUSD:31.05
EURUSD: -5.52 ~ 2.36
XAUUSD: -41.39 ~ 17.3
EURUSD:1.1
EURUSD:6.8
EURUSD:21.08
XAUUSD:41.42
EURUSD: -8.9 ~ 1.1
XAUUSD: -39.8 ~ 16.2
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of axicorp, forexchief lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
AxiTrader Limited (Axi) is the real deal, with over 260 trading options in CFDs, including forex, shares, indices, commodities, and IPOs – they're all on the menu. Minimum deposits start at $0, the broker offers competitive spreads from 0.0 pips on major currencies on the Pro account, and here is the cool part: traders can use ECN execution for direct market orders. As for the platform, it's none other than the legendary MetaTrader 4
as well as MetaTrader 5 in certain regions
. With a touch of pride, they served hundreds of thousands of traders across 100 countries. Want to see if Axi's trading environment lives up to its claims? Time for some exploration!
Axi Review Summary | |
Founded in | 2007 |
Registered Country | Australia |
Regulation | ASIC, FCA, FMA, DFSA |
Market Instruments | Forex, indices, shares, comoodities, IPOs, cryptocurrencies |
Demo Account | ✅(30-day trial with $50,000 virtual fund) |
Leverage | Up to 500:1 |
EUR/USD Spread | From 0.4 pips |
Trading Platform | Axi Trading Platform, Copy Trading App, MT4, MT4 WebTrader,MT5 |
Minimum Deposit | $0 |
Customer Support | 24/5 multilingual live chat, phone, email |
Axi (formerly AxiTrader) was founded in 2007, and has since expanded its presence to include offices in other regions, including Latin America, Asia, and the Middle East. Axi welcomes all kinds of traders of all skill levels. If you're new to trading and want to start without too much capitalspending much, the $0 minimum deposit and user-friendly platform are great. Irrespective of a traders skill, there are many options to trade, good spreads, and lightning-fast execution. And for those inclined towards advanced features, Axi's ECN system and MetaTrader 4 platform are a notable combination.
In 2023, Axi also launched their innovative capital allocation program called Axi Select. Axi Select gives talented traders the opportunity to trade their way to the top and get funding of up to $1,000,000 USD and keep up to 90% of their profits.
Taking a look at Axi, we spot its share of upsides and downsides. Let's start with the bright side, it's got the backing of multiple solid financial authorities, numerous instruments you can trade, and they let you practice with a demo account. Plus, they've got the MT4 platform
the MT5 platform in certain regions with plans to go live globally within the next few months, and handy tools to help traders trade smarter. They offer customer support in 13 languages, and deposits and withdrawals are seamless.
Pros | Cons |
• Regulated by ASIC (Australia), FCA (UK), FMA (New Zealand), DFSA (UAE) | Customer support is 24/5 only for English language; for other languages, customer support is open during business hours. |
• Wide range of trading assets and tools | |
• Multiple account types including demo and Islamic accounts | |
• No minimum deposit, $0 to start | |
• Multilingual customer support | |
• MT4 supported,MT5 in certain regions | |
• Free VPS for the Elite account | |
• Copy trading | |
• Capital allocation program, Axi Select |
Considering the pivotal aspect for brokers, that is regulation, it's indeed comforting to note that AxiTrader is under the oversight of regulatory bodies from four distinct nations,
including the United Kingdom and Australia
Advancing further, let's undertake a more detailed exploration of the regulatory licenses secured by Axi.
Axi's Australian entity, Axi FINANCIAL SERVICES PTY LTD, is regulated by ASIC under regulatory license number 318232, holding a license for Market Making (MM).
Notably, this license's credibility gains support from WikiFX's investigators. They physically traveled to the institution's registered address for thorough verification. At Level 10, 90 Arthur Street, North Sydney, NSW 2060, Australia, they found a functioning office, confirming the broker's operational status and significant scale. Behold, an image capturing the tangible office space of this company.
In addition to being regulated by ASIC, this entity is also regulated by the FMA in New Zealand, with regulatory number 518226, holding a license for Straight Through processing (STP).
Now, let's examine the third license. Axi's UK branch, known as Axi Financial Services (UK) Limited, is overseen by the FCA and has been granted regulatory license number 466201. This license permits them to engage in Market Making (MM) activities as well.
Lastly, Axi also follows regulations from the DFSA in the United Arab Emirates under regulatory number F003742, authorized for Retail Forex activities.
Trading Assets | Available |
Forex | |
Shares | |
Indices | |
Commodities | |
IPOs | |
Cryptocurrencies | |
ETFs | |
Options |
Axi (formerly AxiTrader) gives you access to 260+ trading choices across 6 categories: forex, shares, indices, commodities, IPOs, and cryptocurrencies.
Axi offers three account types tailored to different trading needs, namely Standard, Pro, and Elite. The Standard Account has no setup cost and starts with spreads from 0.9 pips. The Pro Account tightens those spreads to 0.0 pips with a $7 round trip commission, while the Elite Account, designed for advanced traders, features 0.0 pips spreads and a reduced $3.50 round trip commission. All accounts support trading from 0.01 lots, mobile trading, and include MT4 NexGen. Leverage reaches up to 500:1, and you can choose base currencies among AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, and USD. For the Elite Account, a minimum deposit of USD 25,000 is required.
*Account types listed in this section are only available to clients of AxiTrader Limited.
Account Type | Standard Account | Pro Account | Elite Account |
Setup Cost | Free | ||
Min Deposit | $0 | $25,000 | |
Base Currencies | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, USD | USD, EUR, GBP, AUD, NZD | |
Min Trade Size | 0.01 lots | ||
Max Leverage | 500:1 | ||
Spread | From 0.9 pips | From 0.0 pips | |
Commission | ❌ | $7 round trip | $3.5 round trip |
Axi Select | ✔ | ✔ | ❌ |
EA Compatibility | ✔ | ✔ | ✔ |
VPS | Subscription available | Free | |
Autochartist | Free |
Also, Axitrader gives users free demo accounts that last for 30 days and include $50,000 in virtual funds. Demo accounts offered by Axitrader shine in these areas:
However, base currency cannot be changed once created.
Besides, they also offer special Islamic trading accounts for Muslim traders that follow Shariah law.
The leverage offered by AxiTrader is capped at 500:1. This means that traders can open positions with a much larger amount than their initial investment. However, high leverage can also lead to significant losses if the trade does not go as expected. Traders should exercise caution and use proper risk management strategies when trading with high leverage. Axi provides educational resources and tools to help traders understand the risks associated with leverage and how to manage them effectively.
Spreads and commissions with Axi are scaled with the accounts offered. Specifically, the spread starts from 0.9 pips on the Standard account, and 0.0 pips on the Pro and Elite account.
As for the commission, there is no commission on the Standard account, a commission of $7 round trip on the Pro account, and $3.5 round trip on the Elite account.
Axi offers traders the popular MetaTrader 4 (MT4) platform for desktop, mobile, and web. MT4 is a widely used platform that offers a wide range of charting and technical analysis tools, customizable indicators, and the ability to use automated trading strategies through Expert Advisors (EAs). The MT4 platform is available for download on PC and Mac computers, as well as on mobile devices for both iOS and Android.
Additionally, Axi offers the MT4 WebTrader, which allows traders to access the platform directly from their web browser without the need for any downloads or installations.
Axi Trading Platform and Copy Trading App are also available.
There are a range of trading tools designed to enhance the trading experience for its clients. These include Myfxbook Autotrade, which allows traders to follow and copy the trades of experienced traders, MT4 signals which provide real-time trade ideas and analysis, MT4 VPS hosting which offers a dedicated virtual private server to ensure optimal performance and minimal downtime.
Additionally, the broker offers a suite of calculators to help traders with their risk management and trade analysis, such as Profit/Loss Calculator, Pip calculator, and Currency converter. These trading tools can be very helpful for traders to better understand their trades and manage their risk effectively.
Axi welcomes traders to fund their accounts through the following payment methods: Credit/Debit cards, and Bank Transfers, Skrill, Neteller, Fasapay, Cryptos, with no fees charged by Axi for any payment method. However, traders should be aware that some international banking institutions may charge fees for transfers, for which Axi accepts no responsibility.
Please also note that payments to Axi via credit/debit cards may be viewed as a cash advance by some banks, potentially incurring additional fees. Deposits made via credit/debit cards and POLi are processed instantly, while bank transfer deposits and withdrawals can take 1-3 business days to be processed.
Payment Methods | Currencies | Minimum Deposit | Minimum Withdrawal | Fee | Time |
AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD | 5 USD | / | ❌ | Instant | |
/ | ❌ | ||||
CAD, EUR, GBP, PLN, USD | 5 USD | ❌ | |||
AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD | / | 50 USD | ❌ | 1-3 days | |
AED,INR,GBP,EUR,USD | 5 EUR | 5 USD | ❌ | ||
Vary depending on countries | / | / | ❌ | ||
IDR, USD | 5 EUR | 5 USD | ❌ | ||
/ | 30 USD | 50 USD | ❌ | ||
/ | ❌ | ||||
BRL | 50 BRL | / | ❌ | Up to 12hrs | |
AUD | 5 AUD | / | ❌ | Instant |
Remember, these fees can change and might be different based on how you're making the payment. To stay updated, it's a smart move to reach out to the broker and get the most recent fee details before you decide to deposit or withdraw any funds.
Axi's customer service is comprehensive and available 24/5 in multiple languages, with live chat, phone, email, WhatsApp, and a help center. This means that clients can easily get in touch with the Axi support team whenever they need assistance or have any questions. The availability of multiple communication channels ensures that clients can choose the most convenient way to contact support.
Additionally, the Help Center offers a range of resources and frequently asked questions that can help clients find answers to their questions quickly and efficiently.
Axi makes learning easy with a variety of educational resources. If you're using the MT4 platform, their step-by-step video tutorials are there to guide you. They also offer Free eBooks, covering everything from basics to advanced topics. Stay updated on market trends through the Axi Blog, which features expert insights and daily analysis. For structured learning, the Axi Academy provides courses on forex, technical analysis, and risk management. If you're diving into cryptocurrencies, the Crypto Glossary will help you grasp the terms.
Educational Contents | Offered |
MT4 Video Tutorials | |
eBooks | |
Blog | |
Axi Academy | |
Crypto Glossary | |
Trading Glossary | |
Webinars |
All things considered, Axi is a well-regulated and reputable broker that offers a wide range of markets and instruments for trading, including forex, shares, indices, commodities, and cryptocurrencies. They also offer multiple account options, free demo accounts, and leverage up to 500:1. In addition, their MT4 trading platform is robust and feature-rich, with various tools and resources to support traders. and they have recently launched MT5 in certain regions with plans to go live globally within the next few months.
Overall, Axi is a good choice for experienced traders who are looking for a diverse range of trading opportunities and who prioritize a broker's reputation and regulation.
Is Axi Group regulated?
Yes. The Axi Group is a global award-winning broker, with regulatory licenses in Australiam New Zealand, Dubai, and the United Kingdom. AxiTrader Limited is registered in the St Vincent & the Grenadines. AxiTrader Limited is not regulated.
Does Axi Group offer demo accounts?
Yes, demo accounts are available.
Does Axi offer the industry-standard MT4 & MT5?
Yes. Axi supports MT4, whereas it only support the MT5 in certain regions, with plans to launch globally within the next few months. Axi Trading Platform, and Copy Trading App.
CFDs carry a high risk of investment loss, this content is for informational purposes only and should not be construed as investment advice.
Retail investor accounts based in some parts of the world are not permitted to trade cryptocurrency CFDs.
xChiefReview Summary | |
Founded | 2014 |
Registered Country/Region | Comoros |
Regulation | MISA (Offshore) |
Market Instruments | Forex, Metals, Commodities, Indexes, Stocks, Cryptos |
Demo Account | ✅ |
Leverage | Up to 1:1000 |
Spread | From 0 pips |
Trading Platform | MT4, MT5, xChief App |
Min Deposit | 0 |
Customer Support | Live chat, phone, email |
xChief (formerly ForexChief) is an online Forex and CFD trading broker that offers multiple assets for trading online via the MetaTrader4/5 platforms. Founded in 2014, its head office is in Vanuatu while other representative offices are in Singapore and Nigeria. xChief Ltd is incorporated in the Republic of Comoros.
xChief Ltd is a retail forex broker offshore regulated by the Mwali International Services Authority (MISA) in Comoros with the license number T2023379. Besides, xChief prioritizies the safety of client funds. If there are any losses caused by technical faults, xChief will compensate for them. It also protects clients' funds by segregating them into separate bank accounts.
xChief has several pros and cons. It offers various trading instruments, multiple account types, and user-friendly trading platforms. Besides, it also highlights the safety of client funds, and manages to protect them. What's more, it is well regulated, and it is a mature broker. However, some reports have been exposed, which says that xChief has slippage.
Pros | Cons |
Various trading instruments | Withdrawal issues and slippage |
Tight spreads | Offshore regulated |
Demo accounts | |
MT4/5 supported | |
No minimum deposit requirement | |
Live chat |
xChief offers 4 types of trading accounts: CENT account, Classic+ account, DirectFX account, and xPRIME account. Demo accounts are also available for traders.
Account Type | Account Curency | Minimum Deposit | No-Deposit Bonus $100 | Welcome Bonus $500 |
CENT | USD, EUR | 0 | ❌ | ❌ |
Classic+ | USD, EUR, GBP | $10 (or equivalent) | ✔ | ✔ |
DirectFX | USD, EUR, GBP | $50 (or equivalent) | ✔ | ✔ |
xPRIME | USD, EUR, GBP, CHF, JPY | $2000 (or equivalent) | ❌ | ✔ |
The leverage is relatively high, and for some types of accounts, it can be up to 1:1000, which means risks may also be high.
Account Type | Max Leverage | Spreads | Commissions |
CENT | 1:500 | From 0.9 pips | ❌ |
Classic+ | 1:1000 | From 0.6 pips | ❌ |
DirectFX | 1:1000 | From 0.3 pips | $/€/£2.5 |
xPRIME | 1:1000 | From 0 pips | $/€/£/₣3/¥500 |
Trading Platform | Available Devices | Suitable for |
MetaTrader5 | Desktop, iOS, Android, MacOS, Web | Beginners |
MetaTrader4 | Desktop, iOS, Android, MacOS, Web | Skilled and professional traders |
xChief Mobile App | Mobile | All types of traders |
TxChief supports different kinds of deposit and withdrawal methods. Take the UK for example.
Deposit Methods | Fees | Time | Currency |
SWIFT | 0% | Up to 5 days | EUR, GBP |
Crypto | 0% | Up to 8 hours | BTC, ETH, LTC, XRP, USDT, USDC |
Perfect Money | 1.99% | Instantly | USD, EUR |
Withdrawal M ethods | Fees | Time | Currency |
SWIFT | 1%, min.€50/£50 | Up to 5 business days | EUR, GBP |
SEPA | €25 | Up to 3 business days | EUR |
Debit/Credit Card | 2%, min.$5/€5 | Up to 7 business days | USD, EUR |
Crypto | 0% | 1 business day | BTC, ETH, LTC, XRP, USDT, USDC |
Perfect Money | 0.5% | 1 business day | USD, EUR |
xChief provides customer services to its clients, and it has unique contact options in the headquarter as well as representative offices.
Vanuatu Contact Info | |
Phone | +65 31593652 |
info@xchief.com | |
marketing@xchief.com | |
partnership@xchief.com | |
Support Ticket System | ✔ |
Online Chat | 24/7 |
Website Language | English |
Company Address | 1st Floor, CNM Building, Port Vila, Vanuatu |
Singapore Contact Info | |
Phone | +65 31593652 |
asia@xchief.com | |
Support Ticket System | ✔ |
Online Chat | 24/7 |
Website Language | English |
Company Address | 2 Venture Dr, #24-01 Vision Exchange, Singapore, 608526 |
Nigeria Contact Info | |
Contact Options | Details |
Phone | +234 9030795364 |
nigeria@xchief.com | |
Support Ticket System | ✔ |
Online Chat | 24/7 |
Website Language | English |
Company Address | Suite 319 Rock of Ages Mall Jabi, Abuja, Nigeria |
Is xChief regulated?
Yes, it is regulated by the MISA.
Does xChief offer demo accounts?
Yes.
What trading platforms does xChief have?
It supports MT4, MT5, and xChief APP.
What is the minimum deposit for xChief?
The minimum deposit is 0.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive axicorp and forexchief are, we first considered common fees for standard accounts. On axicorp, the average spread for the EUR/USD currency pair is 0.4 pips, while on forexchief the spread is From 0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
axicorp is regulated by ASIC,FCA,FMA,DFSA. forexchief is regulated by MISA,ASIC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
axicorp provides trading platform including Standard Account,Professional Account,专业账户 and trading variety including --. forexchief provides trading platform including xPRIME,DirectFX,Classic+,CENT and trading variety including 150+ Forex, Metals, Commodities, Indexes, Stocks, Crypto.