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Do you want to know which is the better broker between eXcentral and Axi ?
In the table below, you can compare the features of eXcentral , Axi side by side to determine the best fit for your needs.
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EURUSD:-0.6
EURUSD:-1.9
EURUSD:51.09
XAUUSD:31.05
EURUSD: -5.52 ~ 2.36
XAUUSD: -41.39 ~ 17.3
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 excentral, axicorp 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:
Aspect | Information |
Company Name | eXcentral |
Registered Country/Area | South Africa |
Founded Year | 2018 |
Regulation | Revoked |
Minimum Deposit | $1,000 |
Market Instruments | Forex,Commodities,Indices |
Account Types | Classic,VIP,Gold |
Leverage | Up to 1:30 |
Spreads&commissions | Spreads:0.06-2.5pip,no commissions |
Trading Platforms | MT4,MT5 platform |
Demo Account | Available |
Customer Support | Email:inquiriesaexcentral-int.com,Phone:+278 71 951005 |
Deposit & Withdrawal | Bank transfer,debit/credit card,third party payment |
eXcentral, founded in 2018 and based in South Africa, is a financial services company that has had its regulation revoked. The firm requires a minimum deposit of $1,000 and offers trading in Forex, commodities, and indices.
eXcentral provides various account types including Classic, VIP, and Gold, catering to different levels of traders. The company offers leverage of up to 1:30 and boasts competitive trading conditions with spreads ranging from 0.06 to 0.1 pip, without charging commissions.
Traders have access to both MT4 and MT5 platforms, popular choices for their robust features and user-friendliness. A demo account is also available for practice trading. Customer support can be reached via email at inquiriesaexcentral-int.com or by phone at +278 71 951005.
For deposits and withdrawals, eXcentral accepts bank transfers, debit/credit cards, and third-party payments. However, the revocation of its regulation takes about its credibility and the safety of client funds.
eXcentral, operating under the licensed institution OM BRIDGE (PTY) LTD, had its regulatory status revoked by the Financial Sector Conduct Authority in South Africa.
The company, which held the license number 48296 since June 6, 2017, was categorized as a Financial Service Corporate. The revocation of its license raises significant concerns regarding its compliance with financial regulatory standards and the overall safety and legitimacy of its operations.
The licensed institution is located at UNIT 6C3, 159 Rivonia Road Sinosteel Plaza, Morningside Ext 39 Sandton, and can be contacted at the phone number 27072 216 2542. However, given the revocation of its regulatory status, caution is advised when considering any engagement with eXcentral.
The reason for the revocation and the current operational status of the company would require further investigation for anyone considering their services.
Pros | Cons |
Diverse Market Instruments | Regulation Revoked |
Multiple Account Types | High Minimum Deposit |
Competitive Spreads | Uncertain Operational Status |
Access to MT4 and MT5 Platforms | Limited Information on Licensed Institution |
Demo Account Availability | Potential Risk to Investors |
Pros:
Diverse Market Instruments: Offers trading in Forex, commodities, and indices, providing a range of options for traders.
Multiple Account Types: Availability of Classic, VIP, and Gold accounts caters to different levels of traders, offering flexibility and tailored trading experiences.
Competitive Spreads: Claims to offer low spreads ranging from 0.06 to 0.1 pip, which can be beneficial for cost-effective trading.
Access to MT4 and MT5 Platforms: Both platforms are well-regarded in the trading community for their advanced features and user-friendly interfaces.
Demo Account Availability: Provides a demo account, allowing new traders to practice and get acquainted with the platforms without financial risk.
Cons:
Regulation Revoked: The revocation of its regulatory status by the Financial Sector Conduct Authority in South Africa is a major red flag, indicating potential issues with compliance and reliability.
High Minimum Deposit: A minimum deposit of $1,000 might be relatively high for beginner traders or those looking to test the waters with smaller investments.
Uncertain Operational Status: The revocation of its license raises questions about the current operational status and the safety of client funds.
Limited Information on Licensed Institution: Lack of detailed information about the licensed institution OM BRIDGE (PTY) LTD, including its website and email address, hinders transparency.
Potential Risk to Investors: Given regulatory concerns, there is a heightened risk for anyone considering investing or trading with eXcentral.
eXcentral offers trading in a range of market instruments, which include:
Forex: This includes a variety of currency pairs, allowing traders to speculate on the changing values of currencies against each other.
Commodities: These typically involve trading in natural resources such as gold, silver, oil, and agricultural products. Commodities trading can be a way to diversify a trading portfolio beyond forex and indices.
Indices: Trading in indices involves speculating on the price movements of index funds, which represent the aggregated performance of a selection of stocks. Indices usually reflect the performance of a particular sector or the broader market.
Classic Trading Account:
The Classic Trading Account at eXcentral is designed for entry-level traders, offering leverage up to 1:30. It features a 2.5 spread on EUR/USD and a $0.10 spread on Crude Oil, catering to those who prefer trading in major forex pairs and commodities.
This account includes negative balance protection, which can be a safety net for traders against going into debt. Additionally, it comes with free trading education, providing resources for beginners to learn and develop their trading skills.
VIP Account:
eXcentral's VIP Account is tailored for more advanced traders, maintaining the same leverage of up to 1:30. It offers narrower spreads, with 0.9 on EUR/USD and $0.06 on Crude Oil, which can be appealing for more frequent or experienced traders.
This account enhances the trading experience with added features like educational webinars, SMS MTE trading signals for timely market insights, and weekly account overviews for a regular summary of trading performance.
The VIP Account is a step up for those seeking more in-depth market analysis and educational support.
Gold Account:
The Gold Account at eXcentral is geared towards serious, committed traders, providing leverage up to 1:30. It offers competitive spreads of 1.8 on EUR/USD and $0.08 on Crude Oil.
Alongside the benefits found in the VIP Account, the Gold Account introduces a monthly account overview for comprehensive performance tracking and the services of a dedicated senior account manager for personalized trading support.
Exclusive one-on-one sessions are a standout feature, offering bespoke guidance and strategy discussion, making this account suitable for those seeking a highly tailored trading experience.
Account Type | Leverage | EUR/USD Spread | Crude Oil Spread |
Classic | Up to 1:30 | 2.5 | $0.10 |
VIP | Up to 1:30 | 0.9 | $0.06 |
Gold | Up to 1:30 | 1.8 | $0.08 |
Opening an account with eXcentral typically involves the following four steps:
Account Selection:
Begin by choosing the type of trading account that best suits your trading needs and experience level. eXcentral offers Classic, VIP, and Gold accounts, each with different features and spreads.
Registration Process:
Complete the registration form on eXcentrals website. This process usually requires providing personal information such as your name, address, contact details, and possibly some financial information to assess your trading experience and risk tolerance.
Verification (KYC Process):
As part of the Know Your Customer (KYC) process, submit the necessary documents for identity verification. This typically includes a government-issued ID (like a passport or drivers license), proof of residence (such as a utility bill or bank statement), and possibly additional financial documents.
Fund Your Account:
Once your account is verified, deposit funds to meet the minimum deposit requirement, which is $1,000 for eXcentral. Choose a suitable deposit method from the options available, such as bank transfer, debit/credit card, or third-party payment methods.
After completing these steps, youll be able to access the trading platform (MT4 or MT5) provided by eXcentral and start trading with the chosen account type.
eXcentral offers leverage of up to 1:30 across its trading accounts, which includes the Classic, VIP, and Gold account types. This level of leverage allows traders to control a larger position with a relatively smaller amount of capital.
For example, with a leverage of 1:30, a trader can hold a position worth up to 30 times their account balance. While this can amplify potential profits, it also significantly increases the risk of losses, especially in volatile market conditions.
Therefore, it's important for traders to use leverage cautiously and understand its implications fully. Leverage is a powerful tool in trading, but it requires a good understanding of risk management to use effectively, particularly for less experienced traders.
eXcentral offers trading conditions with competitive spreads and no commission fees. The specifics of their spreads and commissions are as follows:
Spreads
eXcentral advertises spreads as low as 0.06 to 2.5 pip, which is quite tight and can be beneficial for traders looking to minimize their trading costs.
For example, the spread for EUR/USD ranges from 0.06 pip in the VIP account to 2.5 pips in the Classic account. Similarly, the spread for Crude Oil varies from $0.06 in the VIP account to $0.10 in the Classic account.
Such low spreads are particularly advantageous for high-frequency traders or those who trade large volumes.
Commissions:
The company states that it charges no commissions on trades. This means that traders don't have to pay a separate fee for each trade they execute, which is a cost-effective feature for active traders.
While these trading conditions appear attractive, especially for those looking to keep their trading costs low, it is crucial for traders to consider the overall context of the brokerage, including its regulatory status and reliability.
Account Type | Spread from | Commission ($) |
Raw | 0.2 | 7 |
Real 1.0 | 1.5 | No |
Real 2.0 | 2.5 | No |
eXcentral offers its clients two well-regarded trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MT4 Platform: MT4 is one of the most popular trading platforms in the forex and CFD trading community. It is known for its user-friendly interface, robust technical analysis tools, a wide array of charting options, and support for automated trading through Expert Advisors (EAs).
MT5 Platform: As the successor to MT4, the MT5 platform offers extended features and capabilities. It supports more types of trading orders and has additional timeframes for analysis. MT5 also provides access to more indicators and analytical tools, along with enhanced charting capabilities.
Both platforms offer mobile versions, allowing traders to manage their accounts and trade from anywhere. The choice between MT4 and MT5 typically depends on the trader's preference, trading style, and the specific instruments they wish to trade.
eXcentral offers various options for deposit and withdrawal, including a specific minimum deposit requirement:
Minimum Deposit: The minimum amount required to open an account with eXcentral is $1,000. This sets a relatively high entry barrier, especially for novice traders or those who prefer to start with a smaller capital investment.
Payment Methods:
Bank Transfer: Allows for direct transfer of funds from a trader's bank account to their trading account. This method is typically secure but may take several days to process.
Debit/Credit Card: Offers a quick and convenient way to deposit funds using widely accepted cards like Visa and MasterCard.
Third-Party Payment: Accepts deposits via various third-party payment systems, which could include digital wallets or online payment services. These methods often provide quick and easy transactions.
eXcentral provides customer support through multiple channels, aiming to assist clients with their queries and issues. Customers can reach out via email at inquiriesaexcentral-int.com, offering a direct line of communication for support, queries, or feedback.
Additionally, they provide phone support at +278 71 951005, which can be beneficial for immediate assistance or for discussing more complex issues. The availability of these support options suggests a commitment to maintaining accessible customer service.
In summary, eXcentral, based in South Africa and founded in 2018, offers Forex, commodities, and indices trading on both the MT4 and MT5 platforms, with account options including Classic, VIP, and Gold. They provide leverage up to 1:30 and competitive spreads with no commission fees.
However, a significant concern is their revoked regulatory status, which poses serious questions about the firm's credibility and the safety of client investments.
While they offer a minimum deposit of $1,000 and multiple channels for customer support, potential clients should approach with caution and thoroughly evaluate the risks due to the regulatory concerns.
Q:What trading platforms does eXcentral offer?
A:eXcentral provides the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for trading.
Q:What is the minimum deposit required to open an account with eXcentral?
A:The minimum deposit required to open an account with eXcentral is $1,000.
Q:What types of trading accounts does eXcentral offer?
A:eXcentral offers three types of accounts: Classic, VIP, and Gold, each with different features and spreads.
Q:What leverage does eXcentral offer?
A:eXcentral offers leverage up to 1:30 across all its trading accounts.
Q:How can I deposit or withdraw funds from eXcentral?
A:Deposits and withdrawals can be made via bank transfer, debit/credit card, or third-party payment methods.
Q:How can I contact eXcentral's customer support?
A:Customer support can be reached via email at inquiriesaexcentral-int.com or by phone at +278 71 951005.
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.
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 excentral and axicorp are, we first considered common fees for standard accounts. On excentral, the average spread for the EUR/USD currency pair is EUR/USD 2.5, GBP/USD 2.8, USD/JPY 2.8, Crude Oil $0.14 pips, while on axicorp the spread is 0.4.
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.
excentral is regulated by FSCA. axicorp is regulated by ASIC,FCA,FMA,DFSA.
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.
excentral provides trading platform including Classic,Silver,Gold,VIP and trading variety including --. axicorp provides trading platform including Standard Account,Professional Account,专业账户 and trading variety including --.