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 FXCM and Axi on their commissions and fees, both brokers receive a solid four-star rating. However, FXCM ranks a bit higher in the industry, positioned at #24 out of 63 brokers, while Axi trails at #43. FXCM's pricing for forex trading is slightly above industry norms. For standard accounts, their average spread for EUR/USD during May 2024 was 0.78 pips for EU, U.K., and Australia clients, but a heftier 1.38 pips for St. Vincent and the Grenadines accounts. Their commission-based accounts offer lower spreads, averaging 0.28 pips, excluding commissions. Although spreads can increase during rollover periods or volatile market conditions, active traders can benefit from substantial discounts depending on trade volume and location.
FXCM provides an Active Trader Rebate Program, not available in the U.K. or EU, with rebates that range from $5 to $25 per million traded based on monthly trading volumes and tiers. Their effective spreads tend to be about 0.74 pips after accounting for commissions, which places them competitively, albeit not at the top, compared to brokers like Tickmill and FP Markets. Active traders with higher monthly trading volumes can receive deeper discounts, significantly reducing effective spreads.
Meanwhile, data on Axi's average spreads isn't readily available, making direct comparisons challenging. Nonetheless, their four-star rating indicates a competitive offering within the forex trading sphere. While both FXCM and Axi maintain strong reputations with similar ratings, FXCM's detailed tiered programs and ranked assessment suggest they might be slightly more advantageous for active traders seeking discounted trading costs.
| 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 are both popular online brokers that cater to forex traders and more. FXCM provides an impressive total of 440 tradeable symbols, allowing investors to engage in diverse market activities. The platform offers 43 forex pairs and enables traders to explore cryptocurrency derivatives, although it does not deal in actual cryptocurrencies. Notably, FXCM does not provide access to exchange-traded securities, such as individual shares on U.S. or international exchanges. Additionally, FXCM offers copy trading capabilities, making it an appealing option for those who prefer to mirror the strategies of more experienced traders. It boasts a 3.5-star rating for its range of investments and ranks #47 among 63 brokers as per ForexBrokers.com.
In comparison, Axi offers 175 tradeable symbols, including a notable selection of 65 forex pairs, which is slightly more than what FXCM offers in this specific category. Like FXCM, Axi supports trading in cryptocurrency derivatives but does not deal with actual cryptocurrencies or exchange-traded securities. Axi also features copy trading, allowing ease of investment for beginners and those who seek automated strategies. Axi matches FXCM's 3.5-star rating in the range of investments category, yet it secures the #56 spot out of 63 on ForexBrokers.com. Both platforms offer a substantial array of investment options suitable for novice and seasoned traders alike.
| Feature |
FXCM
|
Axi
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 175 |
| Forex Pairs (Total) | 43 | 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 choosing between FXCM and Axi for market research, FXCM stands out with its daily market commentary and forex news sourced from top-tier platforms like Bloomberg and Reuters, providing comprehensive market insights. While both brokers offer sentiment-based trading tools and economic calendars, FXCM further enhances its research offerings with tools from Trading Central and market insights from TipRanks, absent in Axi's toolkit. In contrast, Axi distinguishes itself by providing technical analysis tools from Autochartist.
In terms of research quality, FXCM holds a higher rating of 4.5 stars and ranks 11th out of 63 brokers on ForexBrokers.com, reflecting its strong emphasis on providing valuable market insights. Axi, on the other hand, has a 3-star rating and ranks 55th, indicating a more limited research capability. While both brokers deliver essential market analysis, FXCM seems to offer a more comprehensive suite of tools and resources for traders seeking detailed market research.
| 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 | No |
| Signal Centre (Acuity Trading) | No | 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
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Axi
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 82 |
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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.
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0 of 5| Overall Rating | FXCM | Axi | |
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| Trust Score | 95 | 82 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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| 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) | No | No | |
| 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) | No | No | |
| 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) | No | No |
| Investments | FXCM | Axi | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 175 | |
| Forex Pairs (Total) | 43 | 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 | No | |
| 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 | |
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| Trust Score | 95 | 82 | |
| Winner | check_circle | ||
| Review | FXCM Review |
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