IFX Brokers vs. Axi

Overall Comparison

FEATURE

IFX Brokers

AXI

General comparison

4/5

4/5

Regulation

5/5

4/5

Spreads and fees

4/5

3/5

Trading Platforms

4/5

5/5

Trading Apps

4/5

4/5

Analytical Tools

4/5

4/5

Educational Resources

5/5

3/5

Trust Score

93

80

Best in class

x

 

Regulation Comparison

FEATURE

IFX Brokers

AXI

Trust score

93

80

Year Founded

2018

2007

Publically Traded

No

No

Licensed in South Africa

Yes

No

Assets Comparison

FEATURE

IFX Brokers

AXI

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

60

70

US Stock Trading

No

Yes

International Stock Trading

No

Yes

Cryptocurrency CFDs

Yes

Yes

Fees Comparison

FEATURE

IFX Brokers

AXI

Average Spread for EUR/USD

0.2 pips

1.4 pips

Commissions Charged

Yes

Yes

ECN Execution

Yes

Yes

Market Maker Execution

No

Yes

Deposit Options Comparison

FEATURE

IFX Brokers

AXI

Deposit fees

No

Yes

Bank wire

Yes

Yes

MasterCard

Yes

Yes

PayPal

No

No

Skrill

Yes

Yes

Minimum Deposit

$100

None

Trading Platforms Comparison

FEATURE

IFX Brokers

AXI

Desktop Platform

Yes

Yes

Mobile App

Yes

Yes

Social Trading

Yes

Yes

MetaTrader 4

Yes

Yes

MetaTrader 5

Yes

No

cTrader

No

No

DupliTrade

No

No

ZuluTrade

No

No

Proprietary Platform

No

Yes

Analytical Tools Comparison

FEATURE

IFX Brokers

AXI

Economic Calendar

Yes

Yes

Social Sentiment

Yes

Yes

Trading Central

No

No

AutoChartist

No

No

Forex News Sources

Yes

Yes

Daily Market Commentary

Yes

Yes

Educational Resources Comparison

FEATURE

IFX Brokers

AXI

Offers education

Yes

Yes

Webinars

Yes

Yes

Beginner training videos

Yes

Yes

Advanced training videos

Yes

No

Glossary

No

Yes

Majors Offered

FEATURE

IFX Brokers

AXI

GBP/USD

Yes

Yes

USD/JPY

Yes

Yes

EUR/USD

Yes

Yes

USD/CHF

Yes

Yes

USD/CAD

Yes

Yes

NZD/USD

Yes

Yes

AUD/USD

Yes

Yes

IFX Brokers vs. Axi

We spent many hours thoroughly examining the best-in-class Forex brokers for 2022. Here, we take a closer look at IFX Brokers vs. Axi.

 

Which offers better pricing – IFX Brokers or Axi?

IFX Brokers takes the lead in terms of its pricing. While Axi does offer a raw spread account, these still incur a commission of 7USD, while for other accounts the spread averages at 1.4 pips for the EUR/USD.

IFX Brokers spread averages at 0.2 pips for the EUR/USD, which is very competitive, while commissions are charged at 6USD.

 

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a South African Forex broker which is fully regulated and compliant with the Financial Sector Conduct Authority (FSCA), which is the primary financial regulator in the country.

In addition to the FCA in the UK, Axi is also regulated by the Australian Securities and Investments Commission (ASIC). If you’re from South Africa, though, you will create an account with Axi’s unregulated offshore brokerage division based in Saint Vincent and the Grenadines.

 

Which broker offers the superior trading platform?

IFX Brokers and Axi both provide access to the MetaTrader 4 platform from MetaQuotes, which is the industry gold standard in terms of trading software.

However, IFX Brokers also provides access to the updated MT5 version, which provides advanced trading tools and features. Axi does provide access to a proprietary copytrading app.

 

Do these brokers both offer MetaTrader?

Yes, both IFX Brokers and Axi are MetaTrader brokers. However, Axi only provides access to MT4, while IFX Brokers provides access to MT4 and MT5.

 

How many Forex pairs can I expect from these brokers?

IFX Brokers provides access to 60 currency pairs, while Axi provides access to slightly more currency pairs, with 70 made available. Both brokers provide access to the same selection of major currency pairs.

Is it safe to trade with IFX Brokers?

Yes, South African-based IFX Brokers is a fully licensed regulated Forex broker under the FSCA. Therefore, the responsibility for overseeing the numerous financial institutions in the nation falls to the Financial Sector Conduct Authority (FSCA).

The goal of the Financial Sector Conduct Authority (FSCA) is to promote fair treatment and provide education on a range of financial topics in order to increase and maintain the effectiveness and integrity of financial markets and to protect investors.

 

Is it safe to trade with Axi?

Axi continues to be governed by certain prominent authorities, such as the FCA in the UK and ASIC in Australia. However, South Africans are able to open accounts with Axi’s unregulated offshore brokerage in Saint Vincent and the Grenadines.

Axi, which enjoys a stellar reputation in the forex trading sector, gives South African traders the option of joining through either its ASIC or SVG FSA organization.

Although ASIC is regarded as one of the top regulators in the world and offers traders a high level of safety, it restricts Axi’s ability to give bonuses and promotions and caps leverage at 30:1.

The SVG FSA, on the other hand, is not regarded as a regulator and does not oversee trading or safeguard traders, but it does allow Axi to offer its traders far higher leverage. South African clients must rely exclusively on Axi’s reputation if they choose the FSA SVG because no further safeguards exist to guarantee client protection.

 

Who is IFX Brokers?

IFX Brokers is a South African online Forex broker that offers the cutting-edge MetaTrader 4 and MetaTrader 5 trading platforms to private and institutional traders for online trading of a number of financial instruments, including, among others, currency, indices, commodities, energy metals, and futures.

Six distinct types of trading accounts are available from IFX Brokers. You can also register for a demo account.

Each of these accounts is supported by the broker’s extensive trading platform, which provides access to over 60 currency pairs, as well as gold, silver, oil, and natural gas.

The Islamic account at IFX is a swap-free, entirely interest- and riba-free account. No interest works by getting rid of the standard exchange fees that would often be imposed on holdings held over the weekend or overnight.

Various account types may have different minimal deposit requirements. For instance, a basic account requires a $100 minimum deposit, a RAW account requires a $250 minimum deposit, and an Islamic account has a $100 minimum deposit.

Increased charting capabilities and fully functional order management tools are available with Meta Trader 4 and 5 for IFX.

Additionally, these platforms offer a bilingual user interface, in-depth research, and many chart layouts. Additionally, you may alter the size and position of the tabs thanks to their adaptability.

One of the greatest MetaTrader upgrade packages is provided by IFX, which comes with 85 pre-installed indicators. This demonstrates IFX’s dedication to automated traders, a feature that the company’s own platform does not enable.

Even though MT4 at IFX doesn’t have a MAM/PAMM module, copy trading is still supported. In addition to a mobile app for Android and iOS smartphones, the platform is also available as a desktop application for Windows and Mac PCs.

 

Who is Axi?

Axi is an MT4-only broker with three low-cost trading accounts and some of the greatest trading tools in the business; it is based in Australia and has a stellar reputation.

In spite of the fact that Axi only supports MT4, the company provides its traders with access to a number of very effective technical analysis tools, such as Autochartist, MyFxBook, and PsyQuation, at no cost. Traders of all skill levels, from seasoned pros to complete newcomers, can benefit from these tools.

Axi’s offshore brokerage, which is licensed with the SVG FSA, accepts traders from South Africa despite not being regulated by the FSCA. The SVG FSA is not a regulatory body and does not provide any sort of trader oversight or protection.

Those who decide for this strategy risk losing more than they initially invested because there is no protection against going into a negative balance.

That said, Axi separates its clients’ funds from its operational funds at top-tier banks and provides clients with monthly statements regardless of which entity South Africans choose.

When compared to other brokers, Axi’s selection of available financial instruments is limited. Although Axi’s offerings include contracts for difference (CFDs), the only trading platform it supports is MetaTrader 4, which is mostly used for Forex trading. This is seen in Axi’s restricted selection of financial products.

Axi is a reputable broker that adheres to AML guidelines by returning non-profit withdrawals to the original method of payment. Please be aware that at this time Axi does not support any withdrawals using credit or debit card.

Gain access to PsyQuation Premium with a minimum deposit of 500 AUD (or currency equivalent). When it comes to data analytics plugins for retail traders, PsyQuation ranks among the best in the world.

The system analyzes your trading style, identifies errors, and provides guidance on how to avoid repeating the same mistakes in the future using incredibly complex algorithms, much like a personal trading coach.

Axi is an attractive choice for seasoned traders who place a premium on clear account structures, stringent regulation, and the granularity of the MT4 platform.

While its lack of a substantial demo account, exclusivity to a single trading platform, and complexity of available trading tools may deter some novice traders, the company’s regular accounts require no minimum investment and provide each customer with a personal account manager.

Expert traders will enjoy the various currency pairings available and benefit from the available education and market analysis.