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Axim Trade is an online financial services provider that offers forex, cryptos, indices and precious metals for trading online via the popular MT4 trading platforms across multiple devices including desktop, web and mobile. The broker has a low minimum deposit requirement but is located offshore which may deter some potential clients. They have a very limited selection of trading instruments with no stocks, indices or cryptocurrencies. There is also a lack of educational materials, market analysis and social trading signals. Furthermore, the broker cannot accept clients from many countries. Please see our broker ratings for alternative options.
Broker Pros & Cons
In this detailed Axim Trade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Axim Trade have a low minimum deposit requirement which is apt for beginners and for traders on a tight budget. Clients also get access to use the MT4 platform which is one of the leading forex trading platforms globally. The brokers has competitive trading conditions including tight spreads and rapid trade execution speeds.
AximTrade LLC is incorporated under registration number 328 LLC 2020 by the Registrar of Limited Companies, LLC registered by the Financial Services Authority of Saint Vincent and the Grenadines and by the National Futures Association (ID: 0539713). Address: First Floor, Bank Building. First St Vincent, James Street, Kingstownsen Vincent and the Grenadines.
Huntington Services Limited is an IBC registered in New Zealand and is authorised as a Financial Service Provider (FSP) with license no. FSP6317469. Address: 27 Tainui Street, Raumati Beach, Paraparaumu, 5032, New Zealand.
Customers’ funds are held in segregated bank accounts in accordance with regulatory rules. Axim Trade should never use customer’s funds for hedging activities or day to day business running costs. In the possible event that they go bankrupt, eligible customers may be compensated under the BVI FSC Compensation scheme.
Some Axim Trade broker features and products mentioned within this Axim Trade review may not be available to traders from specific countries due to legal restrictions.
Clients have various inbuilt tools that can be used to conduct in-depth market analysis on the MT4 platform. The charts can be displayed on up to 9 timeframes ranging from 1 minute to 1 month. There are over 30 inbuilt technical indicators and graphical objects which can be used for analysis.
The MT4 platform is scalable and all its features can be improved or extended via plugin apps developed with the MQL4 programming language. The platform supports automation of strategies via software expert advisors (EAs) which can be installed on the platform. EAs, technical indicators and other trading tools can be acquired from the MQL market which can be accessed from the “market place” tab within MT4.
Axim Trade has a live economic calendar that displays dates, times, countries and forecasts of economic events and their impacts on the currencies affected. The calendar is courtesy of MetaQuotes; the company that developed MT4 trading platform
Axim Trade Education
Axim Trade does not offer any educational material on its site. This is disappointing as we would like to have seen some trading guides to help support beginners and to encourage informed trading.
Axim Trade Instruments
The trading instruments available on Axim Trade are 49 forex currency pairs as well as cryptos, indices, gold and silver. This is a very limited selection compared to some brokers who offer hundreds of trading instruments across multiple asset classes.
Axim Trade Accounts & Fees
Standard Account
The minimum deposit required to open this account is $1. The maximum leverage is 1:3000. The minimum lot that can be traded is 0.01 lots while the maximum is 50 lots. There is an average spread of 1.0 – 1.6 pips on major forex pairs. There are no trading commissions on this account and clients can open up to 200 orders at a time.
Cent Account
The minimum deposit for this account is $1 while the maximum leverage of 1:2000. The minimum amount of lots that can be traded is 0.01 lots while 150 lots is the maximum. There is an average spread of 1.0 -1.6 pips on major forex pairs. There are no trading commissions and clients can open up to 200 orders at a time. As a cent account, the lot size is 1,000.
ECN Account
The minimum deposit here is $50 while the maximum leverage is 1:1000. The minimum trade volume is 0.01 lots while the maximum tradable lot is 50 lots. The average spread is 0.2 – 0.7 pips on major forex pairs and a commission is $3 per lot is charged. Clients can open up to 200 orders at a time.
Infinite Account
The minimum deposit here is $1 while the maximum leverage is 1:1000. The minimum trade volume is 0.01 lots while the maximum tradable lot is 50 lots. The spreads start from around 3 pips on major forex pairs and no commission is charged.
Demo Account
Demo accounts with virtual funds are also available for trading practice and learning. This can be a good way to trial the brokers services before committing to a real live trading account.
Islamic Account
Swap free versions of the above live accounts are available for customers from certain regions and territories though Axim Trade has to determine if they qualify for it.
As broker fees can vary and change, there may be additional fees that are not listed in this Axim Trade review. It is imperative to ensure that you check and understand all of the latest information before you open an Axim Trade broker account for online trading.
Axim Trade Support
Queries and comments to Axim Trade can be addressed to the customer support team through email, live web chat or a contact us form on the brokers website. They are available 24 hours daily on Mondays to Fridays. The broker can also be contacted on Facebook, Instagram, LinkedIn and Twitter.
Unfortunately, the broker does not provide a contact telephone number on their website. It is worth considering the impact that this may have should you need to contact them in an emergency situation.
Axim Trade Deposit & Withdrawal
Bank Transfer
Residents of Malaysia, Indonesia, Thailand, Vietnam and China can make deposits and withdrawals through local bank transfers in their local currencies. The minimum deposit is $10. Processing time for deposits is instant while withdrawals take 24 hours.
International clients can use bank wire to deposit and withdraw their funds. The processing time for deposits is dependent on the client’s region while withdrawals will be processed in a maximum of 7 days. No extra fees are charged for deposits or withdrawals.
Electronic Payments
Fasapay is available for Indonesian clients for deposits and withdrawals. China residents can use WeChat, AliPay and Union Pay only for deposits. Clients in Malaysia, Thailand, Vietnam and Indonesia can make use of quick transfer for deposits only.
The minimum deposit is $10. Deposits are processed instantly while withdrawals with Fasapay are usually processed instantly. No extra fees are charged for deposits or withdrawals.
Credit/Debit Cards
The broker states that MasterCard and Visa Cards will soon be available for payments and withdrawals.
Cryptocurrency
Axim Trade also has plans to offer Bitcoin as a payment option.
Axim Trade: Account Opening
Opening an account with Axim Trade is straightforward and easy. You can access and complete the short form on the right hand corner of every page on the brokers website. It requires the country of residence, phone number, email and preferred password.
On clicking ‘continue’, a successful message is displayed. You are required to verify your phone number by entering a 4-digit code sent to the phone number you entered on the form. On successful phone number verification, you are automatically logged into the clients’ area of the website. Here, you are required to create a profile by entering your full name and address. From the clients’ area, you can make deposits, verify your identity, view transaction history, request withdrawals, etc.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Axim Trade is an offshore forex broker with a basic offering that includes competitive trading conditions along with a variety of account types, low minimum deposit requirement and the user-friendly MT4 platform for multiple devices.
Despite this, Axim Trade seems to restrict its services to certain territories. Payment options seem to favour those in Asia as clients from other regions have to contact customer support for payment options. The number of trading instruments offered is limited when compared to other brokers that offer hundreds of instruments in various asset classes. There are no educational resources or market analysis/news available. Furthermore, the broker does not have a contact telephone number listed on their website.
The trading brokers review team believe that Axim Trade could include more services in order to become more competitive in the online brokerage industry.
Forex and CFD trading involves high level of risk to your invested capital. Please read and ensure you fully understand our leveraged products. The Company has no liability to any person or entity for any loss or damage in whole.
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