Compare Axi vs SimpleFX
What is Axi? What is SimpleFX?
Axi is a forex broker that was established in 2007 and is regulated by ASIC, FCA, DFSA and FSCL. It offers trading on over 140 instruments, including forex, CFDs, indices, commodities, metals and cryptocurrencies. It supports MetaTrader 4 platform and provides various analytical tools and educational resources for traders.
SimpleFX is a forex broker that was established in 2014 and is not regulated by any authority. It offers trading on over 60 instruments, including forex, CFDs, oil, energies and cryptocurrencies. It supports MetaTrader 4, WebTrader and mobile trading platforms and provides one-click trading, trailing stop and pending orders features.
Axi vs SimpleFX Regulation Comparison
Axi has a higher level of regulation than SimpleFX, as it is licensed by four reputable regulators: ASIC in Australia, FCA in the UK, DFSA in the UAE and FSCL in New Zealand. These regulators ensure that Axi complies with strict standards of financial security, transparency and fair trading practices.
SimpleFX does not have any regulation from any authority, which means that it does not have to follow any rules or regulations regarding its operations, services or client protection. This poses a higher risk for traders who trade with SimpleFX, as they may not have any recourse in case of any disputes or issues with the broker.
Axi vs SimpleFX Trading Assets Comparison
Axi offers a wider range of trading assets than SimpleFX, as it has over 140 instruments available for trading, including 80+ currency pairs, 40+ CFDs on indices, commodities, metals and cryptocurrencies, as well as bonds and ETFs.
SimpleFX offers a smaller range of trading assets than Axi, as it has over 60 instruments available for trading, including 20+ currency pairs, 20+ CFDs on indices, commodities and cryptocurrencies, as well as gold and silver.
Axi vs SimpleFX Trading Fees Comparison
Axi has lower trading fees than SimpleFX, as it offers competitive spreads and commissions on its instruments. For example, the average spread on EUR/USD is 0.4 pips with a commission of $7 per lot round turn on Axi’s Pro account.
SimpleFX has higher trading fees than Axi, as it offers wider spreads and commissions on its instruments. For example, the average spread on EUR/USD is 1.2 pips with a commission of $10 per lot round turn on SimpleFX’s Standard account.
Axi vs SimpleFX Account Types Comparison
Axi has two types of accounts: Standard and Pro. The Standard account has no commission but higher spreads, while the Pro account has lower spreads but a commission of $7 per lot round turn. Both accounts have a minimum deposit of $1 and a maximum leverage of 1:500.
SimpleFX has only one type of account: Standard. The Standard account has both spreads and commissions on its instruments. The minimum deposit is $1 and the maximum leverage is 1:500.
Axi vs SimpleFX Deposit Options Comparison
Axi has more deposit and withdrawal options than SimpleFX, as it supports various payment methods such as credit/debit cards, wire transfer, Skrill, Neteller and BPAY. The processing time for deposits is instant for most methods except wire transfer which may take up to 5 business days. The processing time for withdrawals is within 24 hours for most methods except wire transfer which may take up to 5 business days.
SimpleFX has fewer deposit and withdrawal options than Axi, as it supports only cryptocurrency payments such as Bitcoin, Litecoin, Ethereum, Monero and others. The processing time for deposits and withdrawals is within minutes for most cryptocurrencies except some which may take up to an hour.
Axi vs SimpleFX Trading Platforms Comparison
Axi and SimpleFX both support MetaTrader 4 platform, which is one of the most popular and widely used trading platforms in the forex industry. It offers advanced charting tools, indicators, expert advisors and automated trading features.
However, Axi also provides additional platforms such as MT4 NexGen which enhances the functionality of MT4 with features such as sentiment indicator, correlation trader, alarm manager and trade terminal. Axi also offers PsyQuation which is an AI-powered analytics tool that helps traders improve their performance and reduce their risk.
SimpleFX also provides additional platforms such as WebTrader which is a web-based platform that does not require any download or installation. It offers a user-friendly interface, fast execution and customizable charts. SimpleFX also offers mobile trading platforms for iOS and Android devices, which allow traders to access the markets anytime and anywhere.
Axi vs SimpleFX Analytical Tools Comparison
Axi has more analytical tools than SimpleFX, as it provides various resources and services to help traders with their analysis and decision making. For example, Axi offers Autochartist which is a market scanning tool that identifies trading opportunities based on technical patterns and indicators. Axi also offers Trading Central which is a market research service that provides daily reports, signals and forecasts on various instruments.
SimpleFX has fewer analytical tools than Axi, as it provides only basic resources and services to help traders with their analysis and decision making. For example, SimpleFX offers an economic calendar which shows the upcoming events and news that may affect the markets. SimpleFX also offers a blog which covers some topics and tips on trading.
Axi vs SimpleFX. Which forex broker is better? Which forex broker should you choose?
The answer to this question depends on your personal preferences, trading goals, and risk appetite. There is no one-size-fits-all solution when it comes to choosing a forex broker. However, here are some factors that may influence your decision:
- If you value regulation and security, you may prefer Axi over SimpleFX, as Axi is licensed by four reputable regulators while SimpleFX is not regulated by any authority.
- If you value trading costs and profitability, you may prefer Axi over SimpleFX, as Axi has lower spreads and commissions than SimpleFX on most instruments.
- If you value trading diversity and flexibility, you may prefer Axi over SimpleFX, as Axi offers a wider range of instruments and account types than SimpleFX.
- If you value payment convenience and speed, you may prefer SimpleFX over Axi, as SimpleFX supports cryptocurrency payments which are faster and cheaper than other methods.
- If you value platform functionality and usability, you may prefer either Axi or SimpleFX, as both brokers support MetaTrader 4 platform which is widely used and trusted by traders. However, Axi also provides additional platforms such as MT4 NexGen and PsyQuation which may enhance your trading experience. SimpleFX also provides additional platforms such as WebTrader and mobile trading platforms which may suit your preferences.
- If you value analytical tools and education, you may prefer Axi over SimpleFX, as Axi provides more resources and services such as Autochartist, Trading Central and free education than SimpleFX.
In the end, the choice is yours. You should do your own research and due diligence before opening an account with any broker. You should also test their service with a demo account before trading with real money.
