Plus500 and Axi are two top brokers that attract retail traders globally. We conducted tests and collected data to help you choose which broker meets your needs.
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Our comprehensive comparison covers the 10 most crucial trading factors to consider when evaluating Plus500 and Axi.
Here, we’ll compare Plus500 and Axi to understand which broker offers more favourable pricing.
1. Standard Account Spreads
When it comes to standard account spreads[1]April 2024 Published And Tested Data , both Plus500 and Axi offer competitive spreads with no commissions. Based on our standard account spread tests, we found that Axi had the lower spreads of 1.24 pips on average across the top five forex majors, while Plus500 was higher at 1.86 pips.
| Forex Pair | Plus500 | Axi | Industry Average |
|---|---|---|---|
| EUR/USD | 1.7 | 1.2 | 1.24 |
| USD/JPY | 1.9 | 1.1 | 1.44 |
| GBP/USD | 2.3 | 1.3 | 1.57 |
| AUD/USD | 1.4 | 1.3 | 1.54 |
| USD/CAD | 2.0 | 1.3 | 1.82 |
| EUR/GBP | 1.7 | 1.2 | 1.66 |
| EUR/JPY | 2.4 | 1.2 | 1.95 |
| AUD/JPY | 3.0 | 1.4 | 2.21 |
In terms of tested standard spreads, Plus500 slightly lags behind Axi. As an experienced trader myself, I appreciate the importance of the tightest possible spreads, and Axi seems to have a slight edge in this regard.
2. RAW Account Spreads
Based on our tests [2]Raw account spreads published on each broker's website (updated monthly) plus our own testing , we recorded the average RAW spread as 0.55 pips across the major pairs. However, Plus500 does not offer a RAW account or tight spreads, so Axi wins this section.
| Forex Pair | Plus500 | Axi | Industry Average |
|---|---|---|---|
| EUR/USD | N/A | 0.44 | 0.22 |
| USD/JPY | N/A | 0.2 | 0.41 |
| GBP/USD | N/A | 0.85 | 0.52 |
| AUD/USD | N/A | 0.42 | 0.46 |
| USD/CAD | N/A | 0.83 | 0.66 |
| EUR/GBP | N/A | 0.4 | 0.57 |
| EUR/JPY | N/A | 0.3 | 0.74 |
| AUD/JPY | N/A | 0.5 | 0.87 |
3. RAW Account Commission Rates
Plus500 does not offer commission-based trading accounts like the RAW trading accounts, so it doesn’t score any points in the section. Axi, on the other hand, offers low commissions from $3.50 per 100k traded on the forex markets (or $7 per lot per round-trip). If you have an account of $25,000 or more, then the Axi Elite account dramatically reduces the commission to $3.50 per one-lot round-trip. [3]Commission rates taken from broker's website monthly
| Forex Pair | Plus500 | Axi | Industry Average |
|---|---|---|---|
| USD | N/A | $3.50 | $3.46 |
| AUD | N/A | $3.50 | $3.34 |
| GBP | N/A | £2.25 | £2.43 |
| EUR | N/A | €3.25 | €2.87 |
4. Deposit & Withdrawal Fees
In terms of deposit and withdrawal fees, both brokers fare pretty similarly. Neither Plus500 nor Axi charges any fees when it comes to funding and withdrawing from your account, and the process is fairly seamless in both cases. I believe it’s a win-win situation for traders who are seeking convenience and affordability.
5. Other Fees To Consider
The other fees to consider include if the brokers have an inactivity fee in place. Plus500 has an inactivity fee, which is $10 per month if you do not place a single trade within 90 days of your last trade. Similarly, Axi also charges $10 for being inactive, although they have a longer inactivity threshold of 365 days, making them less strict than Plus500.
| Key Fee Differences | Plus500 | Axi |
|---|---|---|
| Standard Spread | 1.86 | 1.24 |
| Raw Spread | N/A | 0.44 |
| Commission Rates (per trade) | N/A | $3.50 |
| Deposit & Withdrawal | $0 | $0 |
| Inactivity Fee (per month) | $10 | $10 |
| Inactivity length (days) | 90 | 365 |
The choice between Plus500 and Axi may vary depending on individual preferences and trading needs. But from a pricing standpoint, Axi seems to have a slight advantage, making it a suitable choice for those who prioritise cost efficiency in their trading activities.
Verdict
The verdict is clear that Axi wins in standard and raw spreads, while Plus500 offers competitive spreads on the major pairs. The other fees associated with funding and withdrawing are closely matched; you should just be mindful of the inactivity fees. Overall, Axi is the winner in the pricing department, mainly due to its competitive spreads and focus on cost efficiency.
Axi has better trading platforms than Plus500. These include MetaTrader 4 and VPS hosting service. In this section, we’ll explore each platform to determine the best choice for your needs.
1. MetaTrader 4 and MetaTrader 5
Axi is the default option for MetaTrader platforms between the two brokers. However, Axi also offers MT4 NextGen which is a set of plugins that come with enhanced ordering, sentiment trading, and management trading tools that are not provided with MT4 as standard.
2. cTrader and TradingView
Neither broker supports cTrader or TradingView.
3. Plus500 WebTrader
Plus500 offers a proprietary trading platform that seamlessly works across all your devices. Although it’s less powerful than MetaTrader or TradingView, it has all the essential features you would look for in a platform.
| Criteria | Plus500 | Axi |
|---|---|---|
| MetaTrader 4 | No | Yes |
| MetaTrader 5 | No | No |
| cTrader | No | No |
| TradingView | No | No |
| Other Platforms | Plus500 Trading Platform | No |
| VPS Services | No | Yes |
4. Social Trading And Copy Trading
Neither broker has an advantage in this section as neither offers copy or social trading.
5. VPS and Other Trading Tools
Virtual Private Server (VPS) and other trading tools are helpful for traders looking to run automated trading strategies or live far away from the broker/exchange. Again, Plus500 lacks a VPS service, while Axi offers an MT4 forex VPS hosting service. We analysed 20 brokers to find which broker had the fastest VPS speeds using MetaTrader 4. Based on our findings, Axi placed second fastest VPS, making it a solid choice if you want fast execution speeds with a VPS.
Verdict
Both brokers only offer one platform to trade from, which is rare to find with most forex brokers. However, we make Axi the winner of this section because it offers MetaTrader 4 as its trading platform, which is a top choice for most traders. Plus500, however, maintains a strong presence with its user-friendly trading platform, making it an ideal choice if you are a beginner.
*Your capital is at risk ‘82% of retail CFD accounts lose money’
In this section, we’ll explore the differences between Plus500 and Axi in these two key areas.
1. Trading Accounts
Plus500 only offers one type of trading account: its standard account, which is a spread-only account with no commissions. In contrast, Axi has two account types, the Standard and Pro trading accounts, that provide you with a choice of trading fees. The Standard account offers spread-only trading and no commissions, while the Pro account offers low trading commissions and tight spreads from 0.0 pips.
2. Base Currencies
Plus500 offers a range of base currencies, including USD, EUR, and GBP, allowing traders to choose the currency that best suits their trading needs and currency exposure. Axi, on the other hand, provides a more extensive selection of base currencies, including some less common ones like SGD and CHF. This broader range could appeal to international traders or those looking to trade in more exotic currency pairs. The choice here depends on the individual trader’s currency preferences and specific trading strategy.
Below is a comparison table of the account types and base currencies of the two brokers:
| Broker | Trading Accounts | Base Currencies |
|---|---|---|
| Plus500 | Standard | USD, EUR, GBP |
| Axi | Standard (no commission), Pro (commission) | USD, EUR, GBP, SGD, CHF, etc. |
The differences in trading accounts and base currencies between Plus500 and Axi may cater to different trader needs and preferences.
In our comparison of Plus500 and Axi, we evaluated their trading experiences against ten critical factors. Our testing has provided valuable insights into platform usability and performance. We evaluated their trading platforms, including UI design and order execution speeds.
Plus500 prioritizes ease of use, making it an excellent option for novice traders. The platform’s design is clean and straightforward, offering a stress-free onboarding process. Axi’s feature-rich MT4 platform is designed for experienced traders and is renowned for its advanced charting and automation capabilities. Here’s what stood out from our testing:
After conducting thorough testing, we have determined that both brokers have tailored their features to meet the needs of specific types of traders.
Verdict
Axi is the go-to for traders who demand advanced tools and fast execution, while Plus500 shines for those who value simplicity and a straightforward trading experience.
Plus500 has a higher trust score of 78 vs 61 from Axi.
Plus500 Trust Score
Axi Trust Score
When it comes to forex trading, regulatory compliance is crucial in evaluating Plus500 and Axi. Trust is key.
Regulation
Top-tier authorities, including ASIC, FCA, and CySEC, regulate Plus500. This extensive regulation ensures transparency and ethical operation, instilling confidence in traders.
Axi is also strongly regulated by ASIC and FCA. Their adherence to these regulators indicates a commitment to secure and fair trading. Plus500 has the edge when it comes to trust because more Tier-1 regulators regulate it, and it is an FTSE250-listed company. Axi, on the other hand, is also regulated by two top tier 1 regulators and has been trading longer.
| Plus500 | Axi | |
|---|---|---|
| Tier 1 Regulation | ASIC (Australia) FCA (UK) CYSEC (Cyprus) FMA (New Zealand) MAS (Singapore) |
FCA (UK) ASIC (Australia) FMA (New Zealand) |
| Tier 2 Regulation | DFSA (Dubai) EFSRA |
DFSA (Dubai) |
| Tier 3 Regulation | FSA-S (Seychelles) FSCA (South Africa) |
SVGFSA |
Reputation
Both brokers have been established for over 15 years. Plus500 was founded in 2008 in Haifa, Israel. They currently reach around 246,000 hits on Google searches monthly. Axi, on the other hand, is older by one year, having been founded in 2007 in Sydney, Australia. They get over 40,500 Google searches every month.
Reviews
Plus500 has a TrustPilot Score of 4.0/5.0 out of 12,099 reviews, while Axi has 3.8/5.0 for 1,337 reviews.
Verdict
Overall, both brokers are highly trustworthy, with Plus500 having a slight edge due to a broader range of regulators and being a publically traded company on the London Stock Exchange. The choice might depend on personal or regional preferences.
*Your capital is at risk ‘82% of retail CFD accounts lose money’
Axi provides a more comprehensive range of products when it comes to trading forex, cryptocurrencies and commodities. However, it is Plus500 that has an impressive range of markets to trade, albeit the majority is through share CFDs. Nevertheless, Plus500 provides over 11,000 trading products, which is superior to Axis, which is under 500.
| Trading Instruments | Plus500 | Axi |
|---|---|---|
| Forex CFD | 65 | 72 |
| Shares CFD | 11,000+ | 50 |
| Cryptos CFD | 18 (+ Crypto 10) | 37 |
| Commodities CFD | 5 Metals 7 Energies 10 Softs |
3 Metals (5 Gold crosses) 2 Energies 3 Metals Futures 3 Energy Futures 3 Softs Futures |
| Indices CFD | 65 | 17 Indices 14 Index Futures |
| Bonds/Treasuries CFD | No | No |
| Spread Betting (UK only) | No | Yes |
| Other Products | No | No |
| Shares (underlying) | No | No |
Verdict
Axi has the edge if you want to trade non-share CFDs as they offer more markets across forex, commodities, and crypto. With that said, we think Plus500 wins this section as they have a more comprehensive offering of shares compared to Axi.
*Your capital is at risk ‘82% of retail CFD accounts lose money’
Our analysis of Plus500 and Axi’s educational content reveals a strong dedication to supporting traders on their journey. Plus500 offers comprehensive educational materials that are easy to understand and apply for novice traders. Axi offers a variety of learning tools, including webinars and eBooks, for traders at all levels, even though it doesn’t score high in the intermediate and expert categories.
Verdict
Upon reflection of our scoring, Axi offers a more extensive range of educational content for beginners through their online videos, although intermediate and expert resources are lacking. Plus500 offers a solid foundation for beginners but their educational content spectrum is narrower compared to others.
Both Plus500 and Axi offer customer support services, but there may be subtle differences that could affect your decision.
Plus500 Customer Support
Plus500 prioritises responsive and accessible support for its traders. They offer 24/7 customer service via live chat, providing real-time assistance. Plus500 has an extensive FAQ section on its website where traders can easily find answers to common queries. Email support is available, although phone support is notably absent. Plus500’s customer support is offered in multiple languages, accommodating a global clientele.
Axi Customer Support
Compared with Plus500, Axi emphasises personalised support. They offer 24/5 live chat support and have dedicated phone lines in various regions. This means that some may prefer that traders can speak directly to a support representative. Email support and an informative FAQ section are also part of Axi’s customer service offering. Like Plus500, Axi provides support in several languages, catering to an international audience.
Below is a comparison table of the key customer support features at Plus500 and Axi:
| Broker | Live Chat | Phone Support | Email Support | Support Languages |
|---|---|---|---|---|
| Plus500 | 24/7 | No | Yes | Multiple |
| Axi | 24/5 | Yes | Yes | Multiple |
The choice between Plus500 and Axi for customer support depends on specific preferences, such as the need for phone support or 24/7 availability. Those who trade at various hours might appreciate Plus500’s round-the-clock live chat while Axi’s phone support is a preferable option for those who value direct communication.
In our hands-on testing, we’ve scrutinised the funding options provided by Plus500 and Axi, considering the variety and convenience each broker offers. Plus500 offers various convenient funding options, including Visa/MasterCard, wire transfers, and PayPal for fast transactions. Axi offers a wider range of payment options, including e-wallets Skrill and Neteller, and also supports POLi/bPay for clients in Australia and New Zealand.
Our comparison table below highlights the key differences in payment options between Plus500 and Axi, giving you a clear picture of which broker might suit your funding preferences better. It is clear that while Plus500 provides the basics, Axi goes a step further by offering a wider range of payment methods. This could be a determining factor for many traders.
| Payment Option | Plus500 | Axi |
|---|---|---|
| Base Currencies | ✅ | ✅ |
| Visa/MasterCard | ✅ | ✅ |
| Wire Transfer | ✅ | ✅ |
| PayPal | ✅ | ❌ |
| Neteller | ❌ | ✅ |
| Skrill | ✅ | ✅ |
| Rapid Pay EUR/GBP | ❌ | ❌ |
| POLi / bPay AU/NZ | ✅ | ✅ |
| Klarna | ❌ | ❌ |
| Other methods | ✅ | ✅ |
Verdict
Axi offers the best funding options, with a score of 6.60 compared to Plus500’s 6.50, indicating a slightly more versatile range of payment methods that could benefit a diverse set of traders.
Axi has a lower minimum deposit of $0 compared to Plus500’s $100 minimum requirement. With a $0 minimum deposit for both its Standard and Pro accounts, Axi is incredibly appealing to those who wish to start trading without any initial outlay.
However, for the more advanced Elite account, Axi raises the bar significantly with a $25,000 minimum deposit, targeting more serious traders with a higher risk appetite and more capital at their disposal.
Here’s a straightforward comparison of the minimum deposit requirements for Plus500 and Axi:
| Minimum Deposit | Recommended Deposit | |
| Plus500 | $100 | $100 |
| Axi | $0 | $200 |
Verdict
Axi offers a lower minimum deposit, with no initial deposit required for its Standard and Pro accounts, making it a more attractive option for those looking to start trading with minimal financial barriers.
Axi is the winner because it consistently offers more competitive spreads and fees, superior educational resources, better funding options, and a lower minimum deposit, making it highly accessible and cost-effective for traders.
The table below summarises the key information leading to this verdict:
| Factor | Plus500 | Axi |
|---|---|---|
| 1. Lowest Spreads And Fees | ❌ | ✅ |
| 2. Better Trading Platform | ❌ | ✅ |
| 3. Superior Accounts And Features | ✅ | ✅ |
| 4. Best Trading Experience And Ease | ✅ | ✅ |
| 5. Stronger Trust And Regulation | ✅ | ❌ |
| 6. Top Product Range And CFD Markets | ✅ | ❌ |
| 7. Superior Educational Resources | ❌ | ✅ |
| 8. Superior Customer Service | ✅ | ✅ |
| 9. Better Funding Options | ❌ | ✅ |
| 10. Lower Minimum Deposit | ❌ | ✅ |
For beginner traders, Axi is the better choice due to its $0 minimum deposit, comprehensive educational resources, and user-friendly platform.
For experienced traders, Plus500 may be more suitable due to its strong regulatory framework and extensive range of products and markets.
Axi generally has lower costs compared to Plus500. Axi offers competitive spreads starting from 0.0 pips on major currency pairs, which can significantly reduce trading costs for active traders. Plus500’s spreads are typically wider, but they offer a no-commission structure. For a comprehensive breakdown of fees, visit the Lowest Spread Forex Brokers page.
When it comes to MetaTrader 4, Axi is the better broker. Axi specialises in providing a robust MT4 trading experience with enhanced features like free Autochartist and VPS hosting. Plus500 does not offer MetaTrader 4, as their platform is a proprietary web and mobile platform.
Traders who prefer the advanced tools and customisability of MT4 may find Axi’s offering more suitable. For a deeper dive into MT4 brokers, see the Best MT4 Brokers comparison.
Axi offers social trading through various third-party platforms, while Plus500 does not have a social trading feature. Axi has partnered with platforms like ZuluTrade and Myfxbook Autotrade to allow traders to automatically copy the trades of experienced traders. This feature can be particularly useful for new traders who want to benefit from the expertise of seasoned market participants. For more information on platforms that facilitate this, visit the Best Copy Trading Platforms overview.
Neither Axi nor Plus500 offers spread betting. Spread betting is a form of derivatives trading that is popular in the UK and Ireland, as it is tax-free. Traders looking for spread betting options will need to consider other brokers that specialise in this area. For those interested in exploring spread betting further, the Best Spread Betting Brokers page offers a detailed guide.
In my opinion, Axi is superior for Australian Forex traders. Both Axi and Plus500 are ASIC regulated, ensuring a high standard of operation. However, Axi is founded in Australia and offers a more tailored experience to Australian traders, including local customer support. Plus500, while also regulated by ASIC, was founded overseas and may not offer the same localised services. For Australian traders seeking a broker that understands their needs, Axi stands out. More information on Australian Forex brokers can be found on the Australian Forex Brokers page.
For UK Forex traders, Plus500 is the superior broker. Both brokers are regulated by the FCA, ensuring they adhere to strict financial standards. However, Plus500 is listed on the London Stock Exchange and offers a more localised experience for UK traders. Axi, while offering competitive services, does not have the same level of UK-focused features. For further details on UK Forex trading, the Best UK Forex Brokers page provides comprehensive insights.
No commission account spread proprietary testing data and published website spread information, centralised on our standard account spread page..
Raw account spreads (no commission) published on each broker's website (updated monthly) plus our proprietary tests by Ross Collins.
https://www.compareforexbrokers.com/our-methodology/forex-fees/tightest-spreads/
Published commission rates taken from each broker's website (updated monthly) for each base currency rate.
https://www.compareforexbrokers.com/our-methodology/forex-fees/commissions/
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