Written by ForexBrokers.com
In this head to head comparison of FXCM vs Axi, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM, established in 1999, and Axi, founded in 2007, are two online brokerage firms that cater to traders worldwide. An essential factor when choosing a broker is their Trust Score, a metric provided by ForexBrokers.com that ranges from 90-99 for highly trusted brokers to below 59 for those not recommended. FXCM boasts an impressive Trust Score of 95, positioning it as a highly trusted broker. In contrast, Axi's Trust Score of 82 places it in the 'trusted' category. Both brokers are not banks, but FXCM is unique as it is publicly traded, adding an extra layer of transparency to its operations.
Another crucial aspect is regulatory compliance. FXCM holds four Tier-1 licenses, indicating a high level of trust, while Axi holds two Tier-1 licenses. Further, FXCM also has two Tier-2 licenses, compared to Axi's one, highlighting FXCM's broader regulatory approval. For traders evaluating these brokers based on regulatory confidence and public transparency, FXCM offers a more established and widely trusted option compared to Axi.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Year Founded | 1999 | 2007 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When comparing the commissions and fees of online brokers FXCM and Axi, it's important to note some key differences. FXCM’s pricing for forex trading tends to be slightly higher than the industry average. For their standard accounts, the average spread on the EUR/USD during May 2024 came to 0.78 pips for its European, U.K., and Australian clients, while it was notably higher at 1.38 pips for its St. Vincent and the Grenadines entity. Conversely, their commission-based accounts offer an average spread of 0.28 pips, but effective spreads can reach approximately 0.74 pips when commissions are included. With an active trading volume, FXCM's Active Trader Rebate Program allows for further discounts, although these are not as competitive as offers from other brokers like Tickmill and FP Markets.
Axi, on the other hand, hasn't disclosed average spread data, which can make direct comparisons a bit challenging. Both brokers have been rated highly for their commissions and fees, each garnering a 4-star rating. However, their ranking differs, with FXCM landing at the 25th position out of 63 brokers in the Commissions and Fees category according to ForexBrokers.com. Meanwhile, Axi is positioned at 43rd place, indicating a less competitive offering compared to FXCM.
If you are a high-volume trader, FXCM might be a more suitable choice due to its rebate program, although this is not available in the U.K. or EU. The overall fees and commissions can significantly impact your trading costs, so it's crucial to consider these factors, along with the associated programs and potential savings they offer, when choosing between these brokers.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $0 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM and Axi both offer forex trading via CFDs or spot contracts, catering to traders who prefer not holding physical currencies. While FXCM provides access to 440 tradeable symbols, Axi offers 175, allowing FXCM clients a wider selection of investment options. However, Axi edges ahead in forex pairs, with 65 available compared to FXCM's 46. Neither broker offers direct purchase of exchange-traded securities, whether on U.S. or international exchanges, meaning investors cannot purchase, for example, shares of Apple or Vodafone through these platforms.
In terms of advanced trading features, both brokers support copy trading, appealing to investors looking for strategies to follow. For those interested in cryptocurrencies, while neither FXCM nor Axi allows for the purchase of actual cryptocurrencies, they do offer trading in cryptocurrency derivatives. Despite their unique offerings, FXCM and Axi both receive a 3.5-star rating for their range of investments. According to ForexBrokers.com, FXCM ranks 47th while Axi stands at 56th out of 63 brokers in this category, reflecting slight differences in their overall market offerings.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 175 |
| Forex Pairs (Total) | 46 | 65 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
FXCM and Axi both provide traders with virtual demo accounts, enabling beginners to practice without risk. While FXCM shines with its own proprietary platform, Axi does not offer one developed in-house. Both brokers support Windows-based desktop platforms and web-based trading, ensuring accessibility from various devices. Popular copy trading services like ZuluTrade are available with both brokers, alongside the well-known MetaTrader 4 (MT4) platform. However, traders looking for the upgraded MetaTrader 5 (MT5) will not find support with either FXCM or Axi. Despite sharing these features, FXCM stands out with a wider range of columns available for watch lists, offering more customization compared to Axi.
When it comes to trading directly from stock charts, both FXCM and Axi make this possible. However, the brokers diverge in the number of drawing tools, where Axi offers 15 compared to FXCM's 10. Ultimately, FXCM has earned a higher rating of 5 stars for its trading platforms and tools, reflecting its superior offerings that contribute to its ranking as 6th among 63 brokers by ForexBrokers.com. In contrast, Axi holds a 3.5-star rating and ranks 63rd, highlighting a notable difference in user satisfaction and tool quality between the two brokers.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | Yes |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXCM and Axi offer mobile trading apps for iPhone and Android users, allowing traders to manage their investments on-the-go. However, when comparing their features, FXCM stands out by providing watchlist symbol syncing, which means any changes made to watchlists on either the mobile app or online account automatically sync. This feature is missing in Axi's app. FXCM also offers users a more extensive array of technical studies, with 59 options compared to Axi's 30. Both platforms support drawing trendlines and viewing multiple time frames on charts, although only FXCM ensures that any drawings made are automatically saved, a feature not available with Axi.
When it comes to watchlists, both apps allow you to create them with real-time quotes. However, trader reviews highlight FXCM's strength, with a solid 4.5-star rating for its mobile app, reflecting broader user satisfaction. In comparison, Axi's app holds a 3.5-star rating. Ranking-wise, FXCM is positioned at #16 out of 63 brokers for mobile trading by ForexBrokers.com, while Axi lags behind at #59, further showcasing FXCM's superior mobile trading experience.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between FXCM and Axi, FXCM stands out with its daily market commentary, providing traders with frequent insights. While both brokers deliver forex news from top-tier sources like Bloomberg and Reuters, FXCM offers additional research tools through Trading Central, which Axi does not. On the other hand, Axi gains an edge with tools from Autochartist, although it lacks some of the other resources available at FXCM. Both brokers supply sentiment-based trading tools and maintain economic calendars for traders to keep track of global events, enhancing their strategy formulation.
Overall, FXCM's research offerings are highly regarded, earning a 4.5-star rating and placing as the 11th best out of 63 brokers according to ForexBrokers.com. This is a significant lead over Axi, which is rated 3 stars and ranks 55th for research. FXCM's broader array of research tools and market commentary make it a more comprehensive choice for traders seeking in-depth analysis and frequent updates.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | |
| Signal Centre (Acuity Trading) | No | |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners seeking educational resources on trading, both FXCM and Axi offer materials to help you understand forex and CFDs. FXCM excels with a wide range of learning content, including over ten educational videos tailored specifically for beginners, and extends its offerings to advanced traders with more than ten advanced videos. On the other hand, while Axi also provides over ten beginner videos, it falls short in offering advanced educational content. Both brokers conduct monthly live webinars, allowing for interactive learning experiences. However, if you miss a webinar, FXCM provides a searchable archive of past sessions, which Axi does not.
Apart from videos and webinars, both brokers offer an investor dictionary boasting definitions of over 50 investing terms, a handy resource for new traders. When considering education ratings, FXCM stands out with a 4.5-star rating, ranking 14th out of 63 brokers reviewed by ForexBrokers.com. Axi, in comparison, holds a 3-star education rating and is positioned 27th in the same category. This makes FXCM a stronger choice for comprehensive learning support, especially for those seeking both beginner and advanced educational materials.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FXCM is better than Axi. FXCM finished with an overall rank of #15, while Axi finished with an overall rank of #49.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 95 | 82 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both FXCM and Axi do not offer the ability to buy actual delivered cryptocurrency, but they each provide the option to trade cryptocurrency derivatives.
In comparing online brokers FXCM and Axi, FXCM stands out by offering a wider range of deposit and withdrawal options, including ACH or SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, while Axi offers Skrill, Visa or Mastercard, and bank wires, but does not support ACH or SEPA transfers or PayPal.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FXCM | Axi | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 82 | |
| Winner | check_circle | ||
| Review | FXCM Review |
| Broker Screenshots | FXCM | Axi | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
| Regulation | FXCM | Axi | |
|---|---|---|---|
| Trust Score | 95 | 82 | |
| Year Founded | 1999 | 2007 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | Axi | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FXCM | Axi | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 175 | |
| Forex Pairs (Total) | 46 | 65 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FXCM | Axi | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | Axi | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $0 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | Axi | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | Yes |
| Trading Tools | FXCM | Axi | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | Axi | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | FXCM | Axi | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | ||
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | Axi | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | 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 | |
| Review | FXCM Review |
| Overall | FXCM | Axi | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 95 | 82 | |
| Winner | check_circle | ||
| Review | FXCM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill