Axiory

Our Opinion On Axiory

Axiory is a forex and CFD broker with an excellent choice of trading platforms, including MT4, MT5 and cTrader. We also rate the fast account opening and low $10 minimum deposit, making the broker accessible to beginners.

However, our assessment shows that Axiory trails the best forex brokers in key areas. Notably, it has weak regulatory oversight, average trading fees and a narrow investment offering.

Summary

• Instruments: 250+ including 60+ forex pairs, stocks, indices, commodities, ETFs
• Live Accounts: Nano, Standard, Max, Tera
• Platform & Apps: MT4, MT5, cTrader, MyAxiory App
• Deposit Options: Wire transfer, credit/debit card, Skrill, Neteller, Sticpay, JCB card, UnionPay, PayRedeem, ThunderXPay
• Demo Account: Yes

Pros & Cons

Is Axiory Regulated?

Axiory is registered with offshore regulators, and while this means the broker has more leeway to offer features like high leverage, it reduces the level of investor protection available. Offshore regulators are high-risk, providing limited scrutiny of brokers’ trading practices alongside lax joining requirements.

That said, we are somewhat reassured to see the broker offers negative balance protection (preventing your account from falling below zero) and is a member of the Financial Commission, which can provide up to €20,000 compensation in the case of business disputes.

Axiory is regulated through two entities:

• Axiory Global Limited is regulated by the Financial Services Commission of Belize (FSC), license number 000122/405
• Tradit Limited is authorized by the Financial Services Commission of the Republic of Mauritius (FSC), registration number GB21026376

Forex Accounts

Axiory offers five accounts to serve different trading strategies and needs. Swap-free trading conditions are also available for Muslim investors.

Strong points for us are the accessible account conditions – the $10 minimum deposit is low, accounts can be opened in USD or EUR, and the minimum forex trade volume is 0.01 lots.

We highlight the key differences between the accounts below and indicate which type of trader they will suit.

	Nano	Standard	Max	Tera	MT5 Alpha
Good For	Low spreads	Commission-free trading	High leverage	MT5 access	Share dealing
Platforms	MT4, cTrader	MT4, cTrader	MT4, cTrader	MT5	MT5
Leverage	1:400	1:400	1:777	1:400	1:1
Average EUR/USD Spread	0.3 pips	1.3 pips	2 pips	0.3 pips	N/A
Commission	$6 per lot	$0	$0	$6 per lot	From 1.5 per lot

Opening a live account is very straightforward. It took us around 5 minutes to complete the ‘Light Stage’ (personal details and account configuration) while the ‘Full Stage’ which requires ID verification typically takes up to 24 hours, but unlocks all trading features and withdrawals.

Trading Fees

We compared Axiory’s trading fees with alternatives and found they trail the cheapest for brokers. Its 1.3-pip spread on the EUR/USD in the Standard account is higher than the around 1.1-pip spread we got at Pepperstone, for example.

Equally, the 0.3-pip spread in its commission accounts (Nano and Tera) is higher than the around 0.1-pip spread we got in Pepperstone’s Razor account.

The Max account also doesn’t offer the best value for money, with a 2-pip spread on the EUR/USD that is significantly wider than alternatives.

Non-Trading Fees

Axiory scores better when it comes to non-trading fees. There are no deposit or withdrawal charges, which is a plus over many alternatives, including eToro.

A $5 inactivity fee also applies to dormant accounts, which is on the low side of forex brokers we review, but is worth keeping in mind for casual investors.

Swap fees may apply to positions held overnight, though these are waived for Islamic traders.

Payment Methods

Axiory offers a good selection of convenient payment methods that stand up well to competitors. You can fund your account with bank cards, wire transfers plus electronic solutions like Skrill, Sticpay and UnionPay. The only notable absence is PayPal.

Most funding solutions offer near-instant processing, but we found that wire transfers can take up to 10 working days, so avoid this if you want to start trading forex quickly.

Forex Assets

Axiory offers a competitive range of 60+ currency pairs, which is in line with top forex brokers like IC Markets.

You will find more choice at firms like CMC Markets (330+), but we feel the suite of major, minor and exotic pairs is enough for most aspiring investors, who tend to trade popular pairs such as the following:

Non-Forex Assets

Axiory’s slim selection of non-forex instruments is a weak point. While it’s a reasonable option if you want to invest in exchange shares and ETFs, its suite of CFDs is limited. There are also no cryptos, so it’s not a good broker if you want to speculate on digital currencies like Bitcoin.

During our tests of the platform, we found that you can speculate on the following:

• Exchange Shares: 100+ global stocks such as Amazon, McDonald’s, Nike, and Oracle
• Exchange ETFs: 60+ exchange-traded funds including Invesco QQQ, iShares Biotechnology, and iShares Core MSCI Europe
• CFD Shares: 160+ stocks such as Apple, AT&T, Tesla, Rolls-Royce and Zalando (you won’t own the shares)
• Indices: 10 major stock indices including the NASDAQ 100, FTSE 100, ASX 200, and NIKKEI 225
• Metals: Four precious metals including Gold and Silver
• Energies: Three energies such as Brent crude oil and natural gas

Execution

Axiory operates as a straight through processing no-dealing desk (STP-NDD) broker. This execution model has its advantages – it provides retail investors direct access to the interbank market, with pricing determined by liquidity providers, reducing the possibility of conflicts of interest.

Leverage

Axiory offers very high leverage up to 1:777 with the Max account, significantly more than the 1:30 afforded to retail investors at EU, UK and Australian regulated forex brokers. Leverage of 1:777 means a $100 outlay would afford you $77,700 in buying power.

Yet while tempting, we recommend beginners approach leveraged trading with caution, given the risk of accumulating large losses. We also recommend making use of risk-management tools like stop-loss orders, available in the trading platforms, to keep a handle on losses.

All accounts have a 50% margin call (request for more funds) and a 20% stop-out level (forced closure of positions).

Platforms & Apps

Axiory’s choice of high-quality trading software is the broker’s key strength in our view. You can trade currencies on three industry-leading platforms; MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.

Based on our first-hand experience testing each solution, cTrader is best if you want the most visually appealing platform with high levels of customization and advanced charting. With more timeframes than MetaTrader, it’s also particularly good for short-term strategies like forex scalping.

MetaTrader 4 is the most popular forex platform and will be the go-to for traders already familiar with the software. That said, our tests show that MetaTrader 5 outguns its predecessor with faster processing and a stronger charting package.

You can see how each platform stacks up in the table below.

	MT4	MT5	cTrader
Trading Account	Nano, Standard, Max	Tera, Alpha	Nano, Standard, Max
Technical Indicators	30+	38+	50+
Charting Styles	3	3	8
Timeframes	9	21	26
Pending Order Types	4	6	6
One-Click Trading	Yes	Yes	Yes
Automated Trading	Yes	Yes	Yes
Depth of Market Data	No	Yes	Yes

Axiory also offers a proprietary mobile app. We enjoy the app’s intuitive design with simple menus and navigation, making account management tasks straightforward to deal with on the go.

However, we are disappointed that it’s only available to iOS users – we couldn’t find it on Google Play during testing. The fact it’s not designed for trading also limits its use to basic account management features like deposits and withdrawals.

Forex Tools

Axiory’s suite of additional tools is a mixed bag. Starting with the downsides, there is no copy trading service, something which is popular with aspiring investors and available at leading brokers like eToro.

There is also no virtual private server (VPS) hosting, which supports algorithmic traders and is available at top forex brokers like IC Markets.

That said, we found a couple of useful tools that support forex trading:

• Autochartist – Available as a plugin for all trading platforms, Autochartist is a powerful trend analysis tool offering real-time alerts and chart pattern forecasts, among other features.
• Indicators – As well as the large catalog of in-built indicators, Axiory stands out for its extra indicators, such as the Strike Indicator. This trend-tracking tool can help identify market opportunities.

Forex Education

Axiory isn’t our first pick for high-quality education. There are some useful articles that explain the basics of forex trading, from technical indicators to risk management tools, but they don’t offer the same level of detail as alternatives.

IG, for example, runs an Academy with excellent courses, webinars and even in-person events to help beginners, intermediate traders and advanced investors learn about online trading.

Forex Research

Axiory offers several useful research tools. This includes an ‘Intelligence’ portal, market news, webinars, and an analytics channel. You can find daily and weekly market briefings, technical analysis, and expert insights.

We find the ‘Trader’s Edge Market Briefing’ particularly useful for identifying potential opportunities. Analysts provide commentary on popular currency pairs, supported by technical analysis. Our only minor complaint is that it is very high-level, so independent analysis is required.

Demo Account

With Axiory’s free demo account, you can practice trading risk-free on all three platforms with $10,000 in virtual funds.

If you are new to the platforms, this is where we recommend starting to learn the different features and develop strategies.

The paper trading account is also a useful starting point if, given its weak regulatory credentials, you have any doubts about Axiory being a legitimate forex broker.

Bonus Offers

While no bonuses were available to us when we opened an Axiory account, our research did uncover historical incentives, including sign-up deposit bonuses.

If a joining bonus is available when you register, make sure to review the terms and conditions, especially regarding withdrawal restrictions. We often see brokers with steep turnover requirements, making it difficult to get your hands on bonus credit.

What we’d like to see

Given Axiory’s average trading fees, a cashback scheme for active traders would be a welcome addition.

Trading Restrictions

Axiory does not prohibit popular trading strategies. Algo trading, scalping, hedging and news trading are all allowed.

Customer Service

Our first-hand experience with customer support, available through email, live chat, telephone, Skype and Telegram, shows Axiory trails the best forex brokers.

We tested the broker’s live chat support several times on different days. Sometimes we immediately got through to a customer service representative and received helpful responses. On other occasions, nobody was available and we had to wait for an email reply, something traders needing urgent assistance will find frustrating.

You can get in contact with Axiory using these contact details:

• Email – support@axiory.com
• Live Chat – Icon bottom right of the broker’s website
• Telephone – +501 224-4632 (Belize) or +971 4589 6250 (UAE)
• Account Manager – Contact details are emailed to you after sign-up

Company Details

Axiory was founded in 2011 by CEO Roberto d’Ambrosio. The company has two registered offices in Belize and Mauritius, plus a representative location in Dubai.

Yet despite over a decade in the online trading industry, we feel the broker could be more transparent about its client base and management team. This would foster more confidence in the brand.

Trading Hours

Axiory follows standard market opening times. This means you can trade forex from 00:04 to 23:59 (GMT), Monday to Friday.

Who Is Axiory Best For?

Axiory is good if you want to trade forex using powerful platforms with sophisticated charting tools like MT4, MT5 and cTrader.

It will also appeal to traders who want high leverage, though we stress the limited regulatory safeguards you will receive in return and the heightened risk of large losses.

FAQ

Article Sources

Axiory Website

Axiory Global Ltd – FSC Belize License

Axiory Global Ltd – Financial Commission

Tradit Ltd – FSC Mauritius License