Axiory Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Axiory Review.
Axiory offers its clients a choice of two basic account types: a STP account, where all costs are included in the spread, and a ECN account with raw interbank spreads, where a commission applies. Otherwise, both accounts provide variable spreads, leverage up to 1:400 and the option to trade in micro lots.
Furthermore, this broker offers PAMM services for investors/money managers.
Unlike most brokers, Axiory welcomes citizens of the United States as clients.
The Company. Security of Funds
Axiory Global Ltd.
Established back in 2007, Axiory Europe is a STP/ECN retail forex broker offering online trading in more than 60 currency pairs, precious metals and various other CFDs through the MetaTrader 4 and cTrader platforms.
The company behind the brand, Axiory Global Ltd., is licensed by the International Financial Services Commission (IFSC) of Belize.
IFSC-licensed companies are required to have a minimum of $500,000 net tangible assets and to keep client funds in segregated accounts.
Despite providing a regulated status, the IFSC has liberal control over forex brokers. Its supervision focuses on promulgation of regulation and a binding code of conduct. Little attention is paid to compliance-checking, reporting and on-going supervision. So, keep that in mind if you intend to invest in a Belize-registered broker. Also, the chances to recover your funds in case of a fraud or bankruptcy are close to zero.
We would like to note that Axiory does not seem like a typical offshore scam – the brokerage is in the business for 10 years, and also it has a European sister company – Capital Solutions Ltd., a Cyprus Investment Firm (CIF), licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
Minimum Initial Deposit
The minimum initial deposit for Axiory’ clients is $200, which is an average amount to start with.
Average Spreads & Commissions
Being a STP/ECN broker, Axiory Europe offers floating spreads, which vary by account category. Nonetheless, trading costs on both accounts are similar, if we add the commission applicable to the ECN spread – 1.6 pips on EUR/USD per lot, which is slightly above average.
In comparison, FX Choice (also with IFSC license) offers average spreads of 1.2 pips on EUR/USD. You may also look up and compare real-time spreads of 15 leading brokers here.
This broker offers leverage up to 1:400, which is considered high, although many forex brokers, offering leverage 1:500 and higher.
We advise traders to be careful with trading on margin, for high leverage levels may lead to heavy losses in excess of initial investments.
Like most forex brokers, Axiory supports the famous trading platform MetaTrader 4 (MT4), desktop, web and mobile versions available. MT4 is preferred by most traders, because it is equipped with advanced charting package, a number of technical indicators, Expert Advisors (EA) and extensive back-testing options.
Together with MetaTrader 4, Axiory offers its clients cTrader trading platform, developed by Spotware. With its progressive approach, intuitive GUI, and advanced trading features, outstanding operability and almost perfect back-end setup, cTrader provides traders with a complete trading solution suitable for all their needs.
cTrader suite includes a PC, web and mobile versions, as well as cAlgo, which allows you to create trading robots and your own indicators for technical analysis, using the language C#.
Methods of Payment
There are several payment methods available to Axiory’s clients: bank wire and credit/debit card (such us Visa, MasterCard®), eWallets Skrill & Neteller.
Although Axiory is an offshore broker, it has 10 years of experience and good overall reputation. It offers online STP/ECN online trading through 2 great platforms – MT4 and cTrader.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Axiory Review Conclusion
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