Is Axi Legal in Malaysia? Is it Safe?
Reliability is the key criterion for choosing any broker. If you have doubts about the reliability of a company, it is not recommended to work with it. Traders from Malaysia often ask “Is Axi safe? Does the company operate legally in the territory of the country, can it be trusted?" Traders Union analysts have prepared a detailed analysis, where we will see whether Axi is legal in Malaysia and whether you can work with this broker.
Short summary about the broker Axi
Axi is a multi-regulated Forex and CFD broker operating under licenses from ASIC (Australia - 127 606 348 ), FCA (United Kingdom - 466201), and DFSA (UAE - F003742), and is a member of The Financial Commission. Each division of Axi serves a specific region, with global traders transacting through the company registered in Saint Vincent and the Grenadines. Axi provides access to over 290 CFDs on stocks, commodities, cryptocurrencies, and shares. Specializing in the Forex market, the broker offers clients over 70 currency pairs with leverage up to 1:30, 1:400, or 1:500, depending on the regulator.
| 💰 Account currency: | Standard or Pro account: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, and USD; Elite account: USD, EUR, GBP, AUD, NZD. |
| 🚀 Minimum deposit: | Standard Account, Pro Account - 0$; Elite Account - $25,000. |
| ⚖️ Leverage: | Up to 1:30, up to 1:400, or up to 1:500 (depends on the registration country and the division) |
| 💱 Spread: | Standard — from 0.9 pips; Elite and Pro — from 0.0 pips |
| 🔧 Instruments: | Forex, CFDs on stocks, shares, indices, commodities, cryptocurrencies (not available to residents of the UK), IPOs |
| 💹 Margin Call / Stop Out: | 100%/20% |
Pros and cons of Axi
👍 Advantages of trading with Axi:
•Compliance with strict FCA, ASIC, and DFSA regulations;
•No specific initial deposit requirements for Standard and Pro accounts;
•High execution speed and price aggregation from 20+ liquidity providers;
•5-digit quotes;
•Access to VPS, Autochartist, and an extended toolkit for MT4;
•Minimum trade size of 0.01 lots;
•No fees for deposits and withdrawals.
👎 Disadvantages of Axi:
•Spreads on the Forex market are not the tightest;
•Demo accounts are provided for 30 days if the trader does not have a user account;
•The broker does not offer more advanced platforms like MT5 and cTrader, only MT4 is available.
What information should a broker disclose?
Only the broker that discloses all legal information can be considered reliable. You need to take notice of this factor when choosing the company.
The official website of the broker should contain the following information:
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The name of the legal entity.
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Country of registration.
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Number of the registration certificate.
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Legal address, factual addresses of the offices of the broker.
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License to conduct financial activity.
The information must be published either in a special section on the website of the broker or in the disclaimer. Make sure to check it.
The official website of the broker must also provide internal regulatory documents. Before you start working with a company, review Terms of Use, Privacy Policy, Disclaimer, Risks Notice, and other documents.
Broker regulation
ASIC
The Australian Securities and Investments Commission (ASIC) is the official financial regulatory body of Australia. The commission regulates the operation of banks, investment companies, Forex brokers, and participants of exchange and over-the-counter trading.
ASIC is a reputable authority. The license of this regulator is recognized as reliable in the entire world. Brokers with licenses issued by ASIC also operate outside Australia, for example in the EU countries, the UK, Asia, etc.
DFSA (Dubai Financial Services Authority)
The DFSA is the financial regulator in Dubai, UAE. They are responsible for regulating and supervising financial services, including banks, insurance companies, investment firms, and other financial institutions operating within the Dubai International Financial Centre (DIFC). The DFSA aims to maintain the integrity and stability of the financial system, protect investors, and promote transparency and confidence in the DIFC's financial markets.
FCA
The FCA (Financial Conduct Authority) is the financial regulator of the UK. It is a non-government body that operates in cooperation with the Bank of English and the HM Treasury. The mission of the FCA is to regulate the operation of financial and investment companies, including Forex brokers.
A broker with the FCA license is fully legal in the UK. The document issued by this regulator is highly regarded also outside the UK. Also, the companies with licenses issued in other jurisdictions can operate in the UK.
VFSC
The Vanuatu Financial Services Commission (VFSC) is the financial regulator of Vanuatu. It is a government authority that licenses brokers and other financial organizations. It also regulates and supervises companies that obtain licenses for financial activity.
Many brokers obtain the VFSC license, as the requirements of the jurisdiction are minimal. For example, it is not required to have an office in the territory of the country, and the equity requirement is only $50,000. The VFSC has the signs of an offshore regulator, but that does not mean that you cannot with the brokers who hold its license. Before opening an account with such a broker, read the detailed review and user reviews about the broker.
Is Axi legal in Malaysia? Broker’s license
Security (Protection for Investors)
Axi, founded in Australia in 2007, is regulated by the Australian Securities and Investments Commission (ASIC), known for having some of the most stringent requirements among international regulators. License holders are obligated to regularly submit financial reports and undergo third-party audits.
While ASIC regulates only the Australian markets, Axi obtained licenses from other commissions to enter the international arena. In 2007, the broker registered with the British Financial Conduct Authority (FCA), and in 2018, with the Dubai Financial Services Authority (DFSA).
Since 2019, Axi has been a member of The Financial Commission—an independent organization for resolving disputes between financial companies and their clients. It has its own compensation fund.
To further expand its client base, Axi opened a representative office in Saint Vincent and the Grenadines in 2019. The offshore division offers the highest leverage, as the local regulator SVG FSA does not monitor the activities of Forex brokers and does not place requirements on available margin trading limits.
👍 Advantages
- Axi is monitored by three regulators
- Regular monitoring of financial indicators by external auditors
- Investment protection up to EUR 20,000 from the Financial Commission
👎 Disadvantages
- Limitation on leverage for retail traders from Australia and the UK
- FCA-licensed division does not offer CFD trading on cryptocurrencies
- The choice of servicing division is automatic based on IP address, not by the trader's preference
Brokers that are similar to Axi
In addition to license and reliability, you also need to take notice of the trading conditions of brokers. This is important both for beginners and experienced traders, as the demands of the clients with different experience differ. Traders Union analysts have prepared a comparison table of Axi with similar brokers.
Comparison of Axi with other Brokers
| Axi | Eightcap | XM Group | RoboForex | Pocket Option | Octa | |
|---|---|---|---|---|---|---|
Trading platform |
Axi Mobile app, Mobile application, MT4 |
MT4, MT5, TradingView |
MT4, MT5, MobileTrading, XM App |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Pocket Option, MT5, MT4 |
MetaTrader4, MetaTrader5, OctaTrader |
Min deposit |
No |
$100 |
$5 |
$10 |
$5 |
$25 |
Leverage |
From 1:1 |
From 1:30 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:40 |
Trust management |
No |
No |
No |
No |
No |
No |
Accrual of % on the balance |
No |
No |
No |
10.00%% |
No |
No |
Spread |
From 0 points |
From 0 points |
From 0.8 points |
From 0 points |
From 1.2 point |
From 0.6 points |
Level of margin call / stop out |
No |
No |
No |
No |
No |
No |
Execution of orders |
Market Execution |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
No deposit bonus |
No |
No |
No |
No |
No |
No |
Cent accounts |
No |
No |
No |
Yes |
No |
No |
Axi is a reliable brokerage with years of experience, holding three licenses in different jurisdictions. It offers accounts for traders of all experience levels, along with education and tools to enhance trading efficiency.
Eightcap has favorable working conditions due to a large choice of instruments, tight spreads, high leverage, and no withdrawal fees. Integration with popular trading platforms and basic deposit/withdrawal options greatly facilitates work with the broker and reduces the entry threshold. In addition to comfortable conditions and low financial costs, traders get free educational materials and special services for technical analysis. A relative disadvantage is the absence of opportunities for passive income. Also, the broker works only with CFDs, so other groups of trading instruments are not available.
XM Broker is a broker for professional trading. Trading conditions correspond to the average market; there are technical advantages that distinguish XM Broker from its competitors.
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
PO TRADE BROKER offers a wide range of trading instruments and copy trading services. It constantly improves its service quality and expands the list of assets and trading platforms. The broker is suitable even for novice traders without significant capital due to the low initial deposit. Experienced traders who work with CFDs and binary options can also use Pocket Option’s services.
The Octa broker has tried to adapt its conditions as much as possible to the various trading strategies used by traders. However, at the moment the company is more focused on active market participants, rather than passive investors.
Conclusions
Traders Union showed that Axi is indeed very reliable and legal in Malaysia. The company holds all necessary licenses to conduct financial activity; it complies with all key requirements of the regulator. Legality of the broker’s operation in the country is one of the key criteria for choosing the company for trading. It is important to take this into consideration, as well as the trading conditions. In this case, we can say that the broker meets all the reliability requirements.
FAQ
Can I work with a broker who does not hold the license?
Trading with a broker without the license involves high risks. The license guarantees that the company performs its obligations. Working with a broker without the license creates a risk of manipulations with quotes, failure to pay, and other schemes.
Where can I complain if a broker with a license violated its obligations?
If a broker allows a violation of the conditions, you can appeal to the authority that issued the license and to the court.
How do I choose the best broker in Malaysia for beginners?
Novice traders need to consider the brokers with licenses issued in Malaysia or other European Union countries, availability of a demo account or cent account, the level of commissions and fees and minimum deposit, as well as educational materials.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.