When it comes to choosing a reliable forex broker, traders are often faced with numerous options. Among the most popular choices in the forex industry are Axi (formerly AxiTrader) and Exness. Both brokers have earned a strong reputation in the market, offering competitive features and services. But how do they compare? In this article, we’ll break down the key aspects of Axi vs Exness to help you decide which one is the best fit for your trading needs.
Here’s a comparison table for Axi and Exness before we dive into full review of the brokers:
| Feature | Axi | Exness |
|---|---|---|
| Year Founded | 2007 | 2008 |
| Regulation | ASIC, FCA, DFSA | CySEC, FSA |
| Trading Platforms | MT4 (with NextGen features) | MT4, MT5 |
| Account Types | Standard, Pro | Standard, Raw Spread, Zero, Pro |
| Minimum Deposit | $0 | $10 |
| Spreads | From 0.4 pips (Standard), 0.0 pips (Pro) | From 0.1 pips (Raw Spread), 0.0 pips (Zero) |
| Commission | $7 per lot (Pro account) | $3.50 – $7 per lot (Raw Spread & Zero) |
| Leverage | Up to 1:500 | Up to unlimited (depending on location) |
| Customer Support | 24/5 via live chat, email, phone | 24/7 via live chat, email, phone |
| Educational Tools | Axi Academy, PsyQuation | Articles, videos, basic educational tools |
| Deposit/Withdrawal Fees | None | None (may depend on payment method) |
Overview of Axi and Exness
Axi is an Australian-based forex broker, launched in 2007. Over the years, Axi has expanded its services globally and is known for its reliability, transparency, and customer service. The broker primarily caters to forex traders but also offers CFDs, commodities, and indices.
Exness, on the other hand, is a Cyprus-based broker founded in 2008. It has grown significantly since its inception and is known for its competitive pricing and advanced trading technology. Exness provides access to forex, metals, cryptocurrencies, and other CFD products.
Regulation and Safety
Regulation is a key factor to consider when comparing brokers, as it determines the safety and protection of your funds.
- Axi: Axi is regulated by top-tier regulatory authorities, including the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) in the UK, and the Dubai Financial Services Authority (DFSA). This means that Axi adheres to strict regulatory standards, ensuring a high level of safety for traders.
- Exness: Exness is regulated by several reputable bodies, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) in Seychelles. Exness also has a solid regulatory framework, providing a secure trading environment.
Winner: Both Axi and Exness are highly regulated and offer a safe trading experience. However, Axi’s regulation by ASIC and FCA may give it a slight edge for traders seeking more robust protection.
Trading Platforms
A broker’s trading platform is crucial for a seamless trading experience. Let’s take a look at what Axi and Exness offer in terms of platforms.
- Axi: Axi offers the MetaTrader 4 (MT4) platform, one of the most popular and widely used trading platforms globally. MT4 is known for its user-friendly interface, advanced charting tools, and a wide range of technical indicators. Additionally, Axi provides access to MT4’s NextGen features, including advanced order management, sentiment analysis, and a powerful trade journal.
- Exness: Exness also offers the MT4 and MT5 platforms, giving traders flexibility in their choice of platform. MT5 is an upgraded version of MT4, offering additional features such as more timeframes, built-in economic calendars, and improved order execution. Exness platforms are compatible with desktop, web, and mobile devices, providing traders with convenience and flexibility.
Winner: Exness takes the lead here by offering both MT4 and MT5 platforms, allowing traders to choose the platform that suits their trading style best.
Account Types and Minimum Deposits
Different traders have different needs, and brokers cater to this by offering a variety of account types.
- Axi: Axi keeps things simple with two primary account types: the Standard Account and the Pro Account. The Standard Account has no commission fees but slightly higher spreads, while the Pro Account has lower spreads but charges a small commission per trade. The minimum deposit for Axi is $0, making it highly accessible for beginners.
- Exness: Exness offers a wider range of account types, including Standard, Raw Spread, Zero, and Pro accounts. The minimum deposit for a Standard Account starts at $10, while more advanced accounts require higher deposits. The various account options allow traders to choose an account that best suits their experience level and trading strategies.
Winner: Exness wins in terms of account variety, but Axi’s $0 minimum deposit could be more appealing for beginners.
Spreads, Commissions, and Fees
Let’s take a look at the cost of trading with both brokers.
- Axi: Axi offers competitive spreads starting from 0.4 pips on the Standard Account. For Pro Account users, spreads can go as low as 0.0 pips, with a commission of $7 per round lot trade. Axi does not charge any deposit or withdrawal fees, making it cost-effective for traders.
- Exness: Exness offers some of the tightest spreads in the industry, with spreads starting from 0.1 pips on the Raw Spread account and 0.0 pips on the Zero Account. The commissions for these accounts range from $3.50 to $7 per lot, depending on the account type. Like Axi, Exness does not charge deposit or withdrawal fees, though there may be minor fees depending on the payment method.
Winner: Exness takes the edge in spreads, particularly with the Zero and Raw Spread accounts offering lower trading costs.
Customer Support
Customer support is a crucial factor, especially for traders who may encounter issues or need assistance.
- Axi: Axi provides 24/5 customer support via live chat, email, and phone. Axi is known for its friendly and responsive customer service, and its website offers an extensive FAQ section to help traders with common queries.
- Exness: Exness offers 24/7 customer support in multiple languages via live chat, phone, and email. The broker is praised for its fast response times and multilingual support, making it highly accessible for traders from different regions.
Winner: Exness wins in this category due to its 24/7 customer support availability, compared to Axi’s 24/5 support.
Leverage
Leverage allows traders to control larger positions with a smaller amount of capital.
- Axi: Axi offers leverage up to 1:500 for most account types, but leverage levels may vary depending on the trader’s location and regulatory restrictions.
- Exness: Exness offers significantly higher leverage, up to unlimited in some cases for Standard accounts, depending on the trader’s experience and country of residence. Higher leverage can be advantageous for experienced traders but also carries a higher risk.
Winner: Exness offers more flexible leverage options, giving it the upper hand for traders who want more control over their risk exposure.
Education and Research Tools
A good broker provides its traders with access to educational materials and research tools to enhance their trading skills.
- Axi: Axi offers a range of educational resources, including free eBooks, webinars, and market analysis reports. Its Axi Academy provides comprehensive training for beginners and experienced traders alike. Axi also offers PsyQuation, an advanced trading analytics platform that helps traders optimize their performance.
- Exness: Exness provides a variety of educational content, including articles, videos, and a detailed trading glossary. However, compared to Axi, its educational materials are not as comprehensive. On the research side, Exness provides basic market analysis but does not offer in-depth tools like Axi’s PsyQuation.
Winner: Axi takes the lead in education and research, especially with the inclusion of advanced analytics tools like PsyQuation.
Final Verdict
Both Axi and Exness are reputable brokers with their strengths and weaknesses. Axi excels in educational resources, simplicity, and regulation, making it a great choice for beginner traders or those who prioritize safety and learning. On the other hand, Exness stands out with its variety of account types, tight spreads, higher leverage, and 24/7 customer support, making it ideal for experienced traders who seek flexibility and low-cost trading.
Ultimately, the choice between Axi vs Exness will depend on your individual trading preferences, goals, and level of experience. For beginners, Axi’s simplicity and educational resources make it a great starting point, while more advanced traders may prefer Exness for its competitive pricing and higher leverage options.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.