Axi vs easyMarkets

Axi vs easyMarkets Spreads, Fees

In our broker comparison, we compared Axi (formally AxiTrader) vs easyMarkets, for forex traders, we found spreads are higher for easyMarkets. It is worth noting that easyMarkets have more inclusions as part of their spread. This means some traders might find their spreads present better value.

easyMarkets higher spreads are due to several factors. These include Axi is an ECN Broker while easyMarkets are a market maker broker.

1. Axi offers variable spreads while easyMarkets offer fixed spreads
2. easyMarkets offer a greater range of risk management tools when compared with Axi. These are ‘indirectly’ paid for through wider spreads.
3. easyMarkets do not charge commissions while Axi charges a commission of US$3.5 for each side of the trade

Axi Trading Accounts

Axi offers 2 types of accounts. These are the Pro account and Standard account. Each account has the same offering except the Pro account has a commission fee, while the Standard account is a commission-free account and instead has a wider spread of around 1 pip.

Axi Pro Account

‘Pro’ Account is an ECN account

• USD $3.5 commission for each 100k traded (on MT4)
• Smallest / largest trade size of 0.01 / 100 lots.
• minimum deposit $0.
• Leverage of 400:1 for Australian clients and international clients outside the UK and Europe (ASIC regulations)
• Leverage of 30:1 for major and 20:1 for minor forex pairs for clients in the UK and Europe (FCA regulations)
• Expert Advisors (EAs)
• MT4 Platform + NexGen
• Variable Spreads

Axi Standard Account

• Spreads from 1.0 pips
• Smallest / largest trade size of 0.01 / 100 lots.
• No minimum deposit to start trading
• Leverage of 400:1 for Australian clients and international clients outside the UK and Europe (ASIC regulations)
• Leverage of 30:1 for major and 20:1 for minor forex pairs for clients in the UK and Europe (FCA regulations)
• Expert Advisors (EAs)
• MT4 Platform + NexGen
• Variable Spreads

Axi is a broker that uses an Electronic Communication Network (ECN). ECN is an automated trading system that connects traders directly with liquidity providers such as banks and other financial institutions. Eliminating the need for a ‘dealing desk’ means spreads can be tighter. As brokers don’t wish to change the true market prices of the currency pairs, commissions fees are applied instead.

Spreads offered by Axi are floating. This means prices are constantly being updated depending on prices offered by liquidators. This means traders may experience ‘slippage‘  if spreads change during execution.

The lower spreads offered also make this account ideal for Expert Advisors (EAs)

easyMarkets VIP / Premium / Standard accounts

• Choice of 3 VIP, Premium and Standard accounts for clients outside the UK and Europe
• Minimum / maximum trade size of lots negotiable otherwise 0.01 / 100 lots
• No Commission
• Choice of Minimum Deposits
• Choice of easyMarkets platforms and MT4 platform
• No Account fees
• Expert Advisors (EAs) – only if using MT4 Platform. Not available on the easyMarkets platform.

Clients outside the UK and Europe (ie. Australia and international)

• Australian Securities and Investment Commission – ASIC regulation
• Leverage of 400:1 with MT4 trading account
• Leverage of 200:1 with easyMarkets trading platform
• Choice of 3 VIP, Premium and Standard accounts
• Minimum deposit VIP $10,000 / Premium $3000 / Standard $200

Clients with these accounts can get the following leverage

Clients in the UK and Europe

• Financial Conduct Authority – FCA regulation
• Minimum deposit VIP 100 euro
• Leverage of 30:1 for major currency pairs, 20:1 for minor currency pairs for retail clients
• Leverage of 400:1 for professional clients using MT4 and 200:1 for traders using easyMarkets platform

Leverage for clients in the UK and Europe will vary depending on if you are a retail client or a professional-client. To be a professional client you need to show easyMarkets that you have 500,000 euros in funds and have made an average of ten trades for each quarter over the previous 12 months.

easyMarkets is a market maker broker. This means they quote bid prices and ask prices of liquidity for which they will buy or sell. In this sense easyMarkets ‘make the market’.

As a ‘dealing desk‘ broker, easyMarkets have many features that make it distinct from Axi. easyMarkets quote their own prices rather than using quotes provided by liquidators. This means easyMarkets do not charge a commission but instead include their fees as part of the spread. Spreads from easyMarkets will be wider than offered by Axi.

Spreads offered by easyMarkets are fixed. This means spreads do not change except for instances of low liquidity or high volatility. Fixed spreads provide a predictable and low-risk environment for trading. This makes easyMarkets ideal for inexperienced traders or ‘risk-averse’ traders.

An example of easyMarkets keeping their spreads is when the Swiss National Bank ceased pegging the Swiss Franc CHF to the Euro. This saw the spread change by 2000 pips. Despite this,  easyMarkets continues to keep its spreads the same.

Axi vs easyMarkets Forex Trading Platforms

Both Axi and easyMarkets offer MetaTrader 4 (MT4) however easyMarkets call their platform MT4 by easyMarkets. easyMarkets also offer their proprietary platform, which has some features not available on MT4.

MetaTrader 4 (MT4)

MT4 is the platform that is most popular among traders. This is because it is the world’s most popular platform and offers all the main features traders of all types will need.

It is popular for the following reasons:

• The platform is one of the oldest and most trusted platforms. It’s considered a market standard.
• It’s free
• An intuitive platform that has become popular with all traders
• High-security standard
• Large and supportive MetaTrader community
• Large collection Expert Traders for expert advisors for trading automation

MetaTrader 4 features include:

Axi MT4 Added Options

NexGen is a free enhancement tool that offers additional features. These features will be useful for beginner and advanced traders.  Some features are namely:

• Advanced order management tools integrated directly into charts and tables to help with money management and when to execute trades.
• Sentiment Indicator provides insight into live market trends by traders to see how others are trading.
• Session Map is an interactive map that shows opening and closing times for different markets around the world.
• Forex News & Twitter feeds to keep traders abreast of all the latest news events and follow other traders on social networks.

NexGen is a really useful feature, as the range of tools can greatly assist traders when making trade decisions and then executing them.

The easyMarkets Forex Trading Platforms

In addition to MetaTrader 4, easyMarkets offer their own proprietary platform ‘easyMarkets’ which contains the following unique features.

• dealCancellation (discussed in risk management)
• No Slippage (discussed in risk management)
• Free guaranteed stop-loss and take profit
• Freeze rate
• Trade all FX and CFD products
• Trade forward deals
• Inside Viewer

MetaTrader 4 has one noticeable feature not offered by the easyMarkets platform. Expert Advisors (EAs) is a type of software or tool that can automate trading strategies on traders’ behalf through the use of robotics. While traders can choose MT4 by easyMarkets to use EAs, it is suggested brokers with better spreads be considered.

Overall, the easyMarkets platform has numerous risk management features that make it ideal for inexperienced or risk-averse traders.

Forex Trading Platforms Conclusion

When traders are selecting a broker, it’s important for them to consider what features they are after. If clients don’t require risk management features, then we recommend Axi because of the NexGen features they offer. If clients do require risk management, then we recommend easyMarkets.

Axi and easyMarkets Execution Speeds

Neither Axi nor easyMarkets provide in-depth information about their hardware infrastructure and execution speeds. While both offer ‘fast execution’ each broker utilise different approaches to ensure clients do not suffer from risks associated with ‘slippage’.

‘Slippage’ is the difference a trader expects to pay for a trade and the price that is paid. Differences in price occur because due to the lag that occurs between the time the trade is executed and the broker receiving the order. Depending on price movement, ‘slippage’ may work in favour or against the trader.

Axi

To reduce the risk of ‘gapping‘ Axi offer deals for Virtual Private Servers (VPS). VPS is a type of server that is split to host many virtual servers, all segregated from each other. Servers are virtual because they act independently of each other.  VPS systems can provide faster execution because they have the extra processing power, higher speed internet connection and are located closer to liquidity centres.

VPS deals include:

• ForexVPS offers a credit of up to $34.99 of the monthly forex fee if 20 lots are traded in one month.
• Metatrader VPS -$10 per month.
• Commercial Network Services offer a credit of up to $35 of the monthly CNS fee if more than 20 lots in a calendar month are traded.
• BeekSFX – extra 256 MB memory plus 30% discount for your first-month subscription.

Axi provides fast execution speeds, and speed is suitable for the average trader. It is professional high volume traders who use robots or automation who are likely to consider the use of VPS.

easyMarkets

easyMarkets don’t provide much information about the technology used as part of their infrastructure. As a result, it is difficult to ascertain much information about execution speeds. easyMarkets merely state they have “fast execution”. Given easyMarkets place a high emphasis on risk management tools that reduce risks associated with ‘slippage’. The need for execution speed is not critical.

The following tools help manage or alleviate the risks of slippage.

1. Freeze Rate– removes slippage risks by allowing a small amount of extra time to trade at the advertised rate. This occurs regardless of real-time rate movements. This is a feature only available with easyMarkets.
2. Fixed Spreads – Fixed spreads mean spread will stay stable during market volatility and ‘final’ prices are always transparent.
3. Guaranteed Stop Loss/Take Profit– Traders can define the maximum amount they are prepared to lose or gain for their investment. If the maximum amount is reached, then the broker will close the traders’ position and cover any difference.
4. Negative Balance Protection – Controls are in place to ensure the client does not lose more than their investment due to ‘slippage’.

Axi vs easyMarkets Execution Conclusion

If you are an inexperienced trader, then we recommend easyMarkets. easyMarkets offer several risk management tools that negate the risks associated with ‘slippage’. Experienced traders may prefer Axi and the costs associated with VPS for its lower spreads and 24-hour trading availability.

Axi vs easyMarkets Risk Management

easyMarkets offer a range of risk management tools not offered by Axi. Below, we show the differences in risk management approaches for each trader.

1. dealCancellation with easyMarkets

‘dealCancellation‘ is a feature unique that is only offered by easyMarkets. The ‘easyMarkets’ platform allows ‎clients to buy ‘protection’ when opening a position. If price movement turns unfavourable deals within one hour of then their original trade refunded.‎

‘dealCancellaton’ is an excellent feature that is ideal for those ‘newbies’ to forex trading. This is because new traders may be vulnerable to losses in volatile markets due to inexperience.

(note: dealCancellation is not available on MT4 by easyMarkets platform.)

2. Stop Loss with Axi vs Guaranteed Stop Loss with easyMarkets

Both Axi and easyMarkets offer ‘stop-loss’. A stop-loss is when a trader places an advance order to close their position when a particular losing price point is reached. If the broker cannot exit the traders’ position when the loss-making price point has been reached, traders can lose more than anticipated.

Guaranteed stop-loss is only offered by easyMarkets and is the same work the same way as a regular stop-loss. The difference is easyMarkets guarantee to close the trade at the exact trigger value. If price movement exceeds the traders’ price point once triggered, then, easyMarkets will pay the difference.

3. Guaranteed Take Profit with easyMarkets

This is the same as ‘stop-loss’ but in reverse. easyMarkets will honour any difference if the price drops after reaching a set profit price level.

4. Minimum Balance Protection with Axi vs Guaranteed Negative Balance Protection easyMarkets

Both Axi and easyMarkets use a ‘margin call close out‘ system to help safeguard clients’ account balance from going into negative. Clients accounts must contain a minimum level of ‘free’ margin to maintain at least one open position. That is, the account must have a substantial margin in their equity in the event price movements on open trades become unfavourable. If a client does not have an adequate margin, then the brokers will exit the clients’ open positions. A margin call will then be made for the client to top up their account.

While the use of ‘free margin’ can help manage a client’s losses. It does not mean a client’s account can’t go into negative in event of extreme foreign exchange volatility.

Axi and Negative Balance Protection.

Clients will be required to pay the amount owing if Axi is unable to exit the traders’ position and the account balance goes negative.

easyMarkets and Guaranteed Negative Balance Protection.

Clients will not be required to pay the amount owing if easyMarkets is unable to exit the traders’ position and the account balance goes negative. Instead, the client’s account balance is reset to $0.

5. Freeze Rate with easyMarkets

easyMarkets has a feature called Freeze Rate. This feature allows ‘freezing’ of the bid and asks prices to give traders extra time to execute their trades. This extra second can allow traders that slight extra time to execute trades that might otherwise result in further loss.

6. Fixed Spreads with easyMarkets

Fixed spreads mean spread will stay stable during market volatility.

Axi vs easyMarkets Risk Management Conclusion

easyMarkets wealth of risk management tools and guaranteed protection provides traders with a higher level of protection than offered Axi.

Axi vs easyMarkets Other CFDS (e.g. Cryptocurrencies)

Besides forex, Axi and easyMarkets offer a range of Contracts for Difference (CFDs).

Axi offers the following

• Indices /Indexes (S&P 500, NASDAQ, Dow Jones).
• Metals (Gold, Silver, Platinum).
• Commodities (Crude Oil).
• Cryptocurrency.

easyMarkets offer the following

• Indices (i.e. S&P 500, NASDAQ, Dow Jones…)
• Metals  including Gold, Silver, Copper, Platinum & Palladium
• Energy Commodities (Energy, Oil, Gas)
• Shares CFD
• Food Commodities (Wheat, Corn, Cotton, Soybeans, Sugar, Coffee, Cocoa)
• Cryptos such as Bitcoin, Ethereum & Ripple

Axi vs easyMarkets CFDs Conclusion

easyTrader offers a wider range of CFDs for trading than offered by Axi.

Axi vs easyMarkets Customer Service

Both traders offer 24/5 support via phone, email and live chat, easyMarkets also offer some unique methods of contact for support such as Viber and Facebook support.

Axi

AtoZforex.com named Axi as the most reliable broker in 2017 as part of their industry awards. Part of this is a recognition of the excellent customer service Axi offer.

Outside Australia, Axi offers toll-free customer service in many other countries. These include China, Germany, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore, Spain, Thailand and the UK.

easyMarkets

Clients receive a different level of service depending on the type of account the client has joined as shown below.

Traders who opt for a Super VIP or VIP account are provided access to a full suite of customer services. These include ‘Personal Account Manager.’ This is a handy tool for the latest in market trends, economic events, and tips for investments strategies.

Axi vs easyMarkets Customer Service Conclusion

Both Axi and easyMarkets offer excellent customer service. We recommend Axi as all customer service features are available regardless of the account in use.

View Axi Review >>Visit Axitrader >>

Axi vs easyMarkets Joining Bonus

There is no joining bonus with Axi.

easyMarkets

All traders who make their first deposit into their account of $100 or more can receive a ‘First Deposit’ bonus of 20%. To claim the bonus, the client needs to contact their relationship manager and quote the ‘First Deposit’ bonus. Clients need to sign up for the bonus as part of the first step in the registration process.

easyMarkets also offer a reward program for bringing in new clients. The ‘Partnership Programme’ and ‘Refer a Friend’ program means clients can receive trading credit up to the amount of $2,500 for each client that is referred.

Axi vs easyMarkets Conclusion – Joining Bonus

If a joining bonus is a consideration when selecting a broker, then we recommend easyMarkets.

Axi vs easyMarkets Deposits & Withdrawals

Axi

To meet ASIC regulations, Axi holds all funds in a segregated account through NAB.

Clients will receive withdrawals for national transfers within 1 to 2 business days. International transfers will be received in 3 to 5 business days.  Deposits will only be made into bank accounts or Neteller accounts. If using the e-wallet service, then Neteller accounts must be in the same name as Axi account.

easyMarkets

To meet ASIC regulation, easyMarkets holds all funds in a segregated account through ‘Bankwest’.

The easyMarkets minimum withdrawal account is $50USD to bank accounts. Other withdrawal methods to eWallets or credit/debit cards have no minimum withdrawal amounts. There are no fees on deposits and withdrawals, although some vendors may charge fees from their end.

Axi vs easyMarkets Deposits and Withdrawals Summary

easyMarkets offers a greater range of funding options than Axi although both offer the most common methods used by traders. Transfer times vary for each deposit/withdrawal method so the trader will need to research their preferred trading methods. Ultimately, both brokers offer some of the best forex trading platforms in 2022.