axi

Overview of axi

Axi is a virtual currency exchange company based in Australia while has branch offices all over the world. It was founded in 2007 and is regulated by the Financial Conduct Authority (FCA). The company offers a range of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). With a maximum leverage of 1:200, Axi provides traders with the opportunity to amplify their trades. The trading platforms offered by Axi include MetaTrader 4 and Axi Trading Platform. Customers can easily deposit and withdraw funds through bank wire transfer, credit/debit cards, Skrill, Neteller, Crypto and UnionPay.

Pros and Cons

Regulatory Authority

The regulatory agency responsible for overseeing the exchange is the Financial Conduct Authority (FCA) with a regulation number of 509746. Axi is regulated and holds an Investment Advisory License issued by AxiCorp Limited. This indicates that the exchange operates under the supervision and compliance of the regulatory agencies to ensure fair and transparent trading practices.

Security

Axi prioritizes the security of its platform and users' funds. The exchange implements various protection measures to safeguard the system and user information. These measures include encryption protocols, secure socket layer (SSL) technology, and advanced firewalls. By employing these security features, Axi aims to protect against unauthorized access and safeguard user data.

Additionally, Axi has additional security measures in place, such as two-factor authentication (2FA), to provide an extra layer of protection for user accounts. Users are encouraged to enable and utilize these security features to enhance the security of their accounts.

Cryptocurrencies Available

Axi offers 30 cryptocurrencies for trading. Some of the cryptocurrencies available on Axi include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). These cryptocurrencies are known for their popularity and widely recognized in the market.

Axi App

Axi is a mobile trading platform that allows users to manage their trading accounts, including MetaTrader4 and Axi Select. It provides synchronized data and advanced tools for optimizing trading strategies. In addition, Axi offers a copy trading application that allows users to explore and copy other traders' trades based on profitability, asset type, and risk level.

How To Open An Account？

The registration process for Axi can be completed in a few simple steps:

1. Visit the Axi website and click on the “Open Account” button.

2. Fill out the registration form with your personal details, including your name, email address, and phone number.

3. Choose a username and password for your account. Make sure to create a strong password that is unique and secure.

4. Agree to the terms and conditions and privacy policy of Axi.

5. Verify your email address by clicking on the verification link sent to your registered email.

6. Complete the identity verification process by providing the necessary documents, such as a valid ID or passport, to comply with regulatory requirements. Once your account is verified, you can start trading on the Axi platform.

Fees

Axi implements a transparent fee structure for trading and other services. Here is a breakdown of the fees charged by Axi:

1. Trading Fees: Generally, there are no commission fees because all fees are already included inside the spreads. However, for cryptocurrency CFDs, financing charges may apply for holding a position overnight. For crypto assets, spread mark ups may apply and they vary based on the coin.

2. Deposit and Withdrawal Fees: If funding exceeds monthly limits (set out in the table below) they may charge fees. For example, charges are applied for card payments and other payment methods where deposits exceed a monthly limit of US$50,000. Payments below this monthly limit and all bank transfers remain free.

Withdrawals are free if they are above US$50 or for the full balance of your Account. Otherwise, an administration fee of US$25 may apply.

Deposit & Withdrawal

Axi accommodates its extensive user base by offering a variety of payment methods. These methods may slightly vary across different regions including Africa, Asia, Europe, Latin America, Middle East & North Africa and North America due to local business regulations but primarily include bank transfers, credit/debit cards, cryptocurrencies, and electronic payments.

For bank transfers, both international and local methods are supported to cater to a wide variety of users. In terms of card payments, Axi accepts both credit and debit cards, accommodating for users who prefer digital or credit payments. Cryptocurrency methods provide a direct line for those invested in digital assets, making transactions faster and simpler. Electronic payments through platforms like Neteller and Skrill are also available for those who prefer these services.

However, each payment method comes with its own processing time. Visa card transactions, local bank transfers, and electronic payments are usually instant, providing immediate access to funds. On the other hand, international bank transfers can take 1 to 3 work days, reflecting the additional processing involved. Transacting in cryptocurrency takes about 15 minutes, considering the network's confirmation times.