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In the fast-paced world of forex trading, choosing the right broker is crucial. XM and Axi are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between XM and Axi across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated XM and Axi, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. The more top-tier authorities regulating a broker, the higher its trust rating.
In our comparison:
Based on these findings, Axi earned a higher trust rating than XM.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that XM has overall lower trading costs than Axi.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both Axi and XM offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Axi offers a greater variety of instruments compared to XM:
For those interested in trading cryptocurrencies, XM offers 60 cryptocurrencies, while Axi offers 11 cryptocurrencies. Therefore, XM is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that Axi charges a withdrawal fee and XM does not. Overall, Axi has better deposit and withdrawal processes than XM.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
XM has better educational support than Axi. Both Axi and XM offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that XM offers better research analysis than Axi and that both Axi and XM offer frequent webinars.
A popular global broker with a large customer base and a good reputation, XM is a good option for most Indian traders. It has some of the lowest fees in the industry, provides excellent research and education, and has a beginner-friendly trading app. It also has an outstanding range of trading tools and its customer service is responsive and well-trained.
An Australian broker with an excellent reputation, Axi is an MT4-only broker with three low-cost trading accounts and some of the best trading tools in the industry. We were also pleased to find that Axi is regulated by the FCA, a British regulator that provides a high level of investor protection.
Axi’s range of financial instruments is slightly limited compared to other brokers, but it offers over 70 Forex pairs and we were pleased that it recently added 50 global share CFDs. Although Axi limits its platform choice to MT4, it offers traders free use of various powerful platform-integrated technical analysis tools, including Autochartist, MyFxBook, and PsyQuation to help experienced traders and serious beginners make better trading choices.
We were also impressed that beginners have access to high-quality, structured learning material and frequent market analysis.
For more detailed reviews, please read our comprehensive assessments of XM and Axi.
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Broker | Regulated by FCA | Licenced by | Min. Deposit | Cost of Trading | Broker Score | Official Site | Compare |
|---|---|---|---|---|---|---|---|
 | No |  | USD 20 | USD 6 | |||
 | No |      | USD 10 | USD 7 | |||
 | No | | USD 5 | USD 6 | |||
 | No |     | USD 100 | USD 9 | |||
 | Yes | | USD 0 | USD 10 | |||
 | No |  | USD 200 | USD 8 | |||
 | No | | AUD 100 | USD 6 | |||
 | Yes |  | USD 0 | USD 10 | |||
 | No | | USD 5 | USD 7 | |||
 | Yes | | USD 0 | USD 10 |
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
