Axe trading (Axe Capital) is a forex and CFD broker that offers online trading via the MT5 platform. In this review, we will look at All about Axe trading (Axe Capital) To find out if Axe trading (Axe Capital) is a safe and reliable broker.
Account options
Live, Professional, and VIP accounts are such account types. The benefits, as you move up to the account tier, include spreads of up to 30% with a VIP account, unlimited use of VPS, and a dedicated account manager. A standard Live account will suit most retail traders while experienced and high volume traders may prefer the VIP option.
Demo Account
Axe Capital offers a demo account, where you can practice trading strategies in a risk-free environment. You can sign up for a practice account from the broker’s homepage. If you have any doubts about Axe Capital, a simulator account is the best way to try it before you buy.
Benefit
The benefits of trading with Axe Capital include:
• Multiple payment options & free deposit
• MT5 for desktop, web & mobile
• US clients welcome
• Tight spreads & low fees
• 250+ CFD assets
Customer Support
Axe Capital claims to offer support in multiple languages and from multiple locations. However, after testing, we were disappointed. The live chat feature is not working and the FAQ portal contains broken or outdated links. If you need to contact the support team, we recommend via the email and phone provided.
Additional features
Axe Capital provides a useful economic calendar and a complete FX calculator. There is also an educational centre with free video courses. Those who are relatively new to the trade may wish to look elsewhere for a more comprehensive selection of resources.
Spreads & Commissions
Spreads on forex pairs start from 0.8 pips for EUR/USD, 1.5 pips for EUR/GBP and 1.6 pips for GBP/USD. For the precious metal, the spread on gold is around 0.39. Overall, the broker is average in terms of trading fees. Clients should also be aware of the swap fee for overnight positions and the monthly inactivity fee if the account is not being used.
Leverage
Leverage at Axe Capital varies depending on the asset:
• Shares – up to 1:25
• Forex – up to 1:500
• Metals – up to 1:200
• Indices – up to 1:500
• Energies – Up to 1:100
Payment Methods
Deposits
Axe Capital offers several fast deposit options, all of which are free to use:
• Credit card – Within 10 minutes
• Bank transfer – Processing times vary
• UnionPay – Within 10 minutes
• Neteller – Within 10 minutes
• PayPal – Within 10 minutes
• Skrill – Within 10 minutes
Merchants should check with their payment provider or bank for brokerage fees. The minimum deposit with Axe trading is $100. Go to the client area to fund your account.
Withdrawal
Traders can withdraw funds employing precisely the same fee-free procedures listed above. Keep in mind that some banks or payment processors may charge their fees. Axe trading aims to process all withdrawals within one business day.