AxiTrader Minimum Deposit

AxiTrader has different minimum deposits for their accounts in Australia. According to their website, the minimum deposit for AxiTrader is AUD 200. This figure is for Axi’s Standard Account. If you choose another account, it is higher than this

Apart from a demo account, there a four live trading accounts you can open with Axi. They all come with varying minimum deposits and trading conditions.

We researched these accounts and here is a summary of what we found.

How Much is Axi’s Minimum Deposit in Australia?

Here is where we breakdown the account types, a summary of their trading conditions, and the minimum deposits.

Let’s go.

1) Standard Account

This is Axi first account. The minimum deposit for Axi’s Standard Account is AUD 200. Also, there is no fee required to set up the account.

In terms of trading fees, they are low for this account. You will pay a spread on every trade and that is all there is. The spread begins from 0.9 pips. The account is commission free so there will be no extra charges for every standard lot you trade.

Your lowest lot size is 0.01 and you can trade 140+ FX pairs, metals, indices, and Shares CFDs. There are over 260 CFDs available in total.

2) Pro Account

The minimum deposit for Axi’s Pro Account is AUD 500. Do not mistake this account for a professional account. It is just another retail trading account for retail traders.

The spread for this account is low, starting at 0.0 pips. The main trading fee for this account is the extra commission for every standard lot you trade. The commission is $3.5 per trip which brings your commission to $7 round trip.

You can trade 140+ FX pairs, metals, indices, and Shares CFDs on a 0.01 minimum lot size. There are over 260 CFDs available in total as well.

3) Elite Account

The elite account is a proper professional account. It is designed for wholesale clients, seasoned professionals, and institutions. The minimum deposit is AUD 25,000.

Spreads begin from 0.0 pips with $3.50 round-turn commission. This is not an account you can just open. You have to meet some eligibility criteria. You will also show evidence that you meet these criteria.

For example, one of the criteria is that you must possess net assets worth AUD 2.5 million or a gross income of at least AUD 250,000 in each of your last two financial years.

For evidence, Axi will require that you submit an accountant’s certificate.

4) Islamic Trading Account

As per our AxiTrader review, Axi’s Standard and Pro Accounts are also available as swap-free accounts. The minimum deposit remains the same.

You might not find it on their website. But as you go through the account application process, you will find the option of a swap-free account. Axi decided if they will say yes to your application at their discretion.

This account is for those who cannot pay or receive interest due to religious or cultural beliefs. Axi can revoke the swap-free status of your account. So make sure not to misuse the account or trade suspiciously.

5) MT4 Demo Account

This is an account you can use to practise trading without any risk. This account is 100% free and it only lasts for thirty days.

There is no minimum deposit for this account. Rather, Axi will give you virtual money in your demo account to trade a replica of live trading conditions.

If you do opt for a demo account, you get AUD 50,000 as your virtual deposit.

Axi Deposit Methods and Required Fees

Traders resident in Australia can fund their account in different ways. You might pay a fee or nothing for using these methods. It all depends on you meeting simple terms and conditions.

Any fee you have to pay can come from your bank or financial institution. Axi does not charge any fees for funding.

Let us have a look at the local methods available in Australia.

1) Credit/Debit cards: Axi accepts cards from Visa and MasterCard only. There is no extra fee when you fund your account through this method. Your money reflects in your trading account instantly.

2) Waave: Waave is a digital wallet. You can fund your account via this wallet and your money will reflect in your account instantly. No extra fees is charged by Axi when you use Waave.

Note: All of these payment methods have their monimum deposits. These minimum deposits are not from Axi but from the payment service providers.

Axi Deposit Rules

1) Axi does not accept third party payments. If they suspect a third party payment, they reserve the right to return the funds to the remitter and retain the balance in your account, pending verification/proof of identity.

If Identity cannot be proven Axi reserves the right to retain the balance in your Account and you will not be permitted to withdraw the balance in your Account.

2) If funding exceeds monthly limits of $50,000 for card payments and other methods, Axi may charge a 3% fee. Only bank transfer is exempted from this rule because there is no monthly limit.

How to Deposit Funds Into Your Axi Account

1) Log in to your personal client area.

2) Click the ‘Deposit’ or ‘Funding menu’

3) Choose your preferred payment method

4) Provide necessary information and complete funding to your trading account.

Comparison Of Axi Minimum Deposit With Other Brokers

Here is how Axi’s minimum deposit compares with a select UK brokers in the industry.

Frequently Asked Questions