Axiory ReviewOpen Demo Account
Founded in 2007, Axiory is an international online CFD broker based in Belize. It is regulated by the International Financial Services Commission (IFSC). The firm has offices around the globe and offers a variety of products and services. With this broker, you can trade forex, stocks, commodities and indices. Various client protections are provided, including segregation of funds, client compensation measures, and negative balance protection. Being carried out entirely online, opening an account is an easy process, and there is a risk-free demo account available for new customers. Clients can trade using MetaTrader 4 (MT4) technology, or cTrader, with a variety of trading tools available, including Autochartist and Expert Advisors. Broker comparison sites that have chosen to review Axiory have found it to be a reliable and competitive brokerage.
- Fully regulated
- Client funds are segregated
- CFD trading with generous leverage
- Choice of three different account types
- Negative balance protection
- No US clients
- No cryptocurrencies
- Limited amount of instruments
What can you trade?
Axiory Forex Review
It is easy and convenient to start trading forex with Axiory. There are over 60 currency pairs to choose from, including majors, minors and exotics. The broker offers competitive spreads and low commissions, and its Standard and Max accounts are commission-free. Access to forex markets is available 24-hours a day, five days a week.
Axiory CFD Review
Axiory offers all of its assets as contracts for difference (CFDs). CFD trading is a form of derivative trading that allows you to speculate on the price movement of an asset without ever owning the underlying asset.
With Axiory, you can trade forex, indices, metals and energies as CFDs, with generous leverage. Metals for trading include gold, silver, platinum and palladium, while energies available are crude oil, natural gas and electricity. Be aware that leverage varies between instruments, with the maximum available on metals, for example, 1:100.
Axiory Stocks Review
At Axiory, it is not possible to trade single stocks, but the broker does offer a variety of stock indices to trade as CFDs. They include the DAX, FTSE, NIKKEI, NSDQ and DOW, giving traders access to global stock markets and allowing them to trade in some of the best-known companies across the world. The FTSE 100, for example, comprises the top 100 companies (by market capitalisation) listed on the London Stock Exchange.
Axiory Social Trading Review
Axiory does not provide a proprietary social trading platform or application; however, the ability to partner with third-party services means that social trading applications are accessible through the platforms that the broker provides.
Traders with Axiory can use the third-party plugins and customisations available through MetaTrader, such as ZuluTrade or Trading Signals, to incorporate social trading into its online trading activities.
What did our traders think after reviewing the main criteria?
Axiory trading fees are competitive, with tight spreads, and no commissions on its Standard and Max accounts. There is a small commission on the Nano account, of 10 USD per lot. Spreads are dynamic and depend on a variety of factors, such as liquidity, trading session and time of day. They are higher on the commission-free accounts, of course, and vary greatly across different instruments. Average spreads on EURUSD, for example, are 0.2 pips on the Nano account, 1.2 on the Standard account, and 1.9 on the Max account. When trading EURGBP, average spreads are 0.7 on the Nano account, 1.5 on the Standard, and 2.1 on the Max. With floating spreads such as these, it is always important to keep an eye on fluctuations when trading and to be aware of slippage.
As with any broker, various other fees may be levied. They are displayed on the broker website. There are no broker-levied deposit or withdrawal fees on transactions over 200 USD. Transactions of less than 200 USD are subject to a 15 USD (or EUR) transaction fee. It is also important to note that some payment providers charge a fee on deposits and withdrawals, and there will also be an exchange fee when transferring funds to other currencies as part of the deposit or withdrawal process. Remember, fees can change without notice, and there may be fees not mentioned in this Axiory broker review that could apply to your account.
Axiory offers three different account types to suit a variety of traders. The Nano account comes with a small commission fee of 10 USD per lot but has tighter spreads, with the average spread for EURUSD being just 0.2 pips. This account offers leverage of up to 1:400 (dependent on instruments being traded) and comes with a variety of other benefits. The Standard account operates a commission-free model with slightly higher spreads (an average of 1.2 pips on EURUSD) and up to 1:400 leverage. The Max account is also commission-free. It offers slightly higher leverage (up to 1:500) but comes with higher spreads, offering an average of 1.8 pips on EURUSD.
All three accounts come with added benefits such as hedging, negative balance protection, and no cap on the number of open or pending orders. Axiory also offers demo accounts for those who want to try the platform risk-free, and Islamic accounts for those who need to trade under the restrictions set by Islamic law. All accounts come with a minimum FX trade volume of 0.01 lots, and an FX lot restriction of 1,000 per ticket.
All accounts have access to the award-winning MT4 platform and cTrader. MT4 is one of the most popular trading platforms in the world, offering a suite of trading tools, a high level of customisation, and compatibility with various third-party tools and plugins. MT4 traders can use Expert Advisors to monitor markets and automate or semi-automate trades, along with Autochartist, which can be used to identify trades with high probabilities. Axiory also offers the ability to use the MQL4 integrated development environment (IDE) and available historical data from the Axiory price database.
cTrader may not be as popular as MT4, but it has excellent trading tools and an intuitive design that appeals to new and experienced traders. It has been around for over ten years, has over 60 in-built indicators, an integrated function for automated trading, and excellent execution capabilities. Both platforms are available for Windows and Mac, and as mobile apps for iOS and Android devices. Also, both platforms can be accessed directly from a web browser for extra flexibility. The platforms also allow for various safety measures to be built into your trading activities, including margin call, stop out and take profit orders.
Most Axiory customers will agree that the website and platforms are easy to access and navigate, offering an excellent and intuitive user experience. The site is well-designed, clean and uncluttered, and it is relatively easy to find information. The top-bar navigation menu displays the main webpages, with drop-down menus allowing you to navigate to the pages you need to access, and there is a further extensive menu in the footer of the website.
Axiory offers excellent customer support to new and existing customers. Help can be accessed via the website, where there is a contact form, email support, a live chat option, and a list of dedicated phone numbers for different countries. Axiory takes pride in its customer support, guaranteeing human interaction and never passes its customers off to chatbots and other automated channels. The support staff are well-trained and helpful, and responses are quick during working hours, which are 11 am to 7 pm GST (4 hours ahead of GMT), Monday to Friday. You can, of course, email out of hours, but we noted that live chat and phone lines only operate during these hours.
Axiory customer support is backed up by a comprehensive and easily searchable FAQs page, where you will find answers to most of your questions. It is an excellent first stop if you have general questions about the broker, account opening, making deposits, etc.
Axiory offers a range of payment options, so customers have no problem finding one that works for them.
- Card payments
Card payments are accepted, with the option to pay with both credit and debit cards. Pre-paid cards are not accepted. Using a credit or debit card usually means that the payment will be instant.
- Bank Wire Transfer
Wire transfers are accepted. Using this method means that it may take three to 10 business days for funds to appear in your Axiory account.
Axiory allows payments via various e-wallets and third-party payment methods. Customers can choose to fund their accounts via Skrill, Neteller, Sticpay, or BitPay. Most of these payment methods are instant. BitPay usually takes 15 minutes (after confirmation) for the funds to clear into your account. Be aware that these payment providers may charge fees on transactions, including depositing funds (there are no broker-levied fees on deposits). Note that some payment methods may not be available in your region.
We feel that most traders will find that Axiory offers a substantial range of trading tools to help them make educated trades and to stay informed of market news. Both MetaTrader and cTrader come with built-in trading tools, charts and technical indicators. Autochartist and Expert Advisors are available. There is also a useful Trading Resources section that includes market news, technical analysis and Axiory’s Trading Academy.
Market news includes up-to-date articles and detailed information on events that will impact the markets. The Trading Academy contains a comprehensive list of articles on everything from the basics of forex trading through to the top forex apps and how to use them. There is also a useful section on trading terms, clearly explaining everything from pips, to trading volume, to margin. The education section is quite basic though and does not include the videos, webinars, eBooks and online courses offered by some online brokers.
Axiory does offer some extra tools such as an online margin calculator and the easy-to-install Axiory Strike indicator.
Regulation and Deposit Protection
Axiory is based in Belize and is regulated by the International Financial Services Commission (IFSC). The broker follows all best practices that you would expect a reputable international brokerage to follow. Audited by PricewaterhouseCoopers, client funds are kept in segregated accounts, in top-tier banks and are kept separate from the operating funds of the company. In the unlikely event of the broker becoming insolvent, they cannot be treated as recoverable assets.
Axiory offers negative balance protection for all retail account holders, and the firm is a member of the Financial Commission. This neutral third-party committee aims to review and resolve any disputes that might arise between brokers and traders. The Financial Commission can also compensate eligible clients for lost funds through the Commission’s Compensation Fund (up to 20,000 EUR per case).
Axiory uses award-winning tools and platforms such as Autochartist. MT4 and other MetaTrader software, and has won titles such as Best FX Trading Platform and Best Multi-Asset Trading Platform on numerous occasions. Autochartist was a finalist in the Best Specialist Product category in The Technical Analyst 2020 Awards.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.