SmartFX is an offshore regulated CFD and forex broker with MT5 integration and 5000+ instruments. The brand offers 24/5 customer support and one account type for simplicity. SmartFX is regulated by the Vanuatu Financial Services Commission (VFSC).
Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.
81.6% of retail investor accounts lose money when trading CFDs with this provider
Pros
I'm pleased to see the world-renowned MetaTrader 5 terminal available, with all integrated tools including the MQL5 development environment, signals and a forex VPS
There's 24/5 multilingual customer support available via live chat, telephone and email, making it easy for clients to reach the broker during peak times
I found commission-free deposits and withdrawals on offer with instant processing times for some account funding methods
I like that beginners can access copy trading opportunities via the Social Trading network
A strong range of advanced tools are available for experienced traders, including the Autochartist market scanner, VPS solutions and exclusive MT4 NexGen features
The broker's inactivity fee terms are fairly generous, only charging a $10 fee after a long inactivity period of 12 months - some brokers charge after only 3 months
The broker’s free trading resources are geared towards short-term traders, including various market calendars and dividend forecast schedules
Experienced traders can benefit from the Axi Select funded trader programme, offering funding up to $1 million and up to 90% profit share
The $0 minimum deposit, zero-commission pricing structure, and user-friendly copy trading service will appeal to beginners
Traders can choose between 10 base account currencies plus a wide range of free deposit methods, including cryptos
Among other educational resources, there’s an excellent selection of free eBooks for newly registered beginners
Axi is a well-regulated and established broker, with a strong track record since 2007
Cons
I'm concerned about the general lack of transparency on the website which makes me question how much trust I can put in this broker
The offshore regulatory oversight by the Vanuatu Financial Services Commission (VFSC) raises serious security concerns for me
There's barely any additional tools and resources available, and the educational content is weak compared to top brands
I wasn't able to access any cryptocurrency trading opportunities, which is a drawback compared to similar brands
There's a limited choice of third-party charting platforms compared to other brands, with only MT4 available alongside the proprietary app
The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more
The tightest round-trip commission fees of $3.50 are only available to those who can deposit $25,000
The Axi Select program requires a $500 minimum deposit to enter the first Seed stage
Awards
Best EMEA Region Broker - ADVFN International Financial Awards, 2020
Best Forex Broker Middle East - forex-awards.com, 2019
After partnering with Pelican Trading, Axi remains a strong option for traders seeking a reputable copy trading service. The user-friendly app requires no minimum deposit and connects seamlessly to your MT4 trading account.
Social Trading
No
Yes
Trade Signals
Yes
Yes - on MT4
VPS Hosting
No
Yes
Tournaments
No
No
Demo Competitions
No
Yes
Ethical Investing
No
No
Custodial Account
No
No
Guaranteed Stop Loss
No
No
Islamic Account
No
Yes
Account Currencies
USD
EUR
GBP
CAD
AUD
JPY
CHF
HKD
SGD
Commodities
Gold
Silver
Copper
Oil
Gold
Silver
Platinum
Cocoa
Coffee
Gasoline
Natural Gas
Precious Metals
CFD
I think the 5000+ CFD instruments including forex, commodities, indices and stocks should serve active traders well. The MT5 platform also offers plenty of advanced tools and features to facilitate complex CFD trading strategies.
Axi offers 220+ products covering forex, shares, commodities, indices and cryptos. Spreads on EUR/USD come in at around 0.2 pips in the Pro account and 1.1 pips in the Standard account. These are competitive and aligned with equivalent accounts at leading low-cost brokers like Pepperstone.
Leverage
1:400
1:400
FTSE Spread
Floating
from 100 (floating)
GBPUSD Spread<
Floating
from 0.6 pips (floating)
Oil Spread
Floating
from 0 pips (floating)
Stocks Spread
Variable
Variable
Forex
I found an average range of 45+ major, minor and exotic currency pairs at SmartFX, tradable on the MT5 platform. I did appreciate the flexible leverage up to 1:400 and minimum order sizes from 0.01 lots.
Axi continues to offer a strong selection of 70+ currency pairs - more than many top brokers including award-winner AvaTrade, with only 50+. There are no restrictions on trading strategies including algo trading and scalping, which will serve both short-term and long-term traders.
Assets
43
70+
GBPUSD Spread
Floating
from 0.6 pips (floating)
EURUSD Spread
Floating
from 0.2 pips (floating)
EURGBP Spread
Floating
from 0.5 pips (floating)
Cryptocurrency
The broker offers a strong selection of 30 popular cryptos paired with fiat currencies, other tokens and metals. The high leverage up to 1:200 will serve experienced crypto traders, whilst the zero-commission pricing structure will appeal to beginners.