Axiory Europe Review
Axiory Europe Review
Axiory Europe offers its clients a choice of two basic account types: a STP account, where all costs are included in the spread, and a ECN account with raw interbank spreads, plus commission fee (suitable for EAs & Scalpers).
Furthermore, this broker offers VIP services with individual pricing for high-volume traders (without deposit requirements) or clients with deposits above $50 000, as well as money manager accounts. In fact, there are two different MAM / PAMM modules.
As regards new and inexperienced traders, there are demo accounts, as well as micro lots available for trade on both basic account types.
Unlike most brokers, Axiory Europe doesn’t provide swap-free (Islamic) accounts.
The Company. Security of Funds
Axiory Europe is a STP retail forex broker offering online trading in currency pairs, indices, futures, stocks and precious metals through the popular MetaTrader 4 platform.
Axiory Europe is a brand owned and operated by R Capital Solutions Ltd., a Cyprus Investment Firm (CIF), licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
Cypriot financial watchdog applies a set of rules and requirements to license holders, which are not as strict as those set by UK’s financial watchdog for instance, yet they provide a certain level of security.
First of all, CySEC requires Cyprus-based forex brokers to hold a minimum of €1,000,000 in order to prove their good financial standing. Moreover, all CySEC-regulated companies are members of the Investor Compensation Fund, which may cover tour investment loss to a maximum of 20,000 EUR per person in the event that the broker becomes insolvent. Such compensation schemes serve as an additional guarantee to clients’ funds.
In addition, as CySEC is part of the European MiFID regulations, and the companies regulated by the Cypriot financial watchdog are free to operate in all EU Member States.
What is more, this broker has a Belize-based subsidiary, Axiory Global Ltd., operating under the brand Axiory. It is licensed by the International Financial Services Commission (Belize) and authorized to trade in financial and commodity based derivatives instruments and other securities.
Minimum Initial Deposit
The minimum initial deposit for Axiory Europe’ clients is $1,000, which is a high initial amount, taking into account that FXTM, as well as XM, both Cyprus-based brokerages, require just $5 from traders to open an account.
Average Spreads & Commissions
Being a true STP/ECN broker, Axiory Europe offers comparatively low floating spreads, which vary by account category – starting from 0.9 pips on EUR/USD for the commission-free accounts and from 0,1 pips on EUR/USD on the ECN account, which incurs a commission of $5 per lot (per side). So, basically the trading costs on the ECN account are at least 1.1 pips. Generally speaking, typical variable spreads from 1.0 to 1.5 pips are considered average.
In comparison, XM offers spreads from 1 pips on EUR/USD for its commission-free accounts and FxPro (also holding a CySEC license) provides average spreads of 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot.
You may also look up and compare real-time spreads of 15 leading brokers here.
This broker offers leverage up to 1:200, which is considered standard. Many Cyprus-based brokers, however, provide considerably higher leverage rates: FXTM offers leverage levels as high as 1:1000 and XM – 1:888. More forex brokers, offering leverage 1:500 and higher can be viewed here.
We advise traders to be careful with trading on margin, for high leverage levels may lead to heavy losses in excess of initial investments.
Like most forex brokers, Axiory Europe supports the famous trading platform MetaTrader 4 (MT4), desktop, web and mobile versions available. MT4 is preferred by most traders, because it is equipped with advanced charting package, a number of technical indicators, Expert Advisors (EA) and extensive back-testing options.
Auto Trading strategies allow you to trade the FX markets 24/5 without any user intervention. You simply employ EAs to do the trading for you. What is more, you can even customize your trading strategies, if you are handy with code, since MT4’s MQL4 is a C-language offering a code for optimizing, developing and testing a number of popular EAs.
Methods of Payment
There are several payment methods available to Axiory Europe’s clients: bank wire and credit/debit card (such us Visa, MasterCard®), eWallet (e.g. Moneta, WebMoney, ewire), real-time bank transfers (e.g. Sofort, PRZELEWY) and Prepaid cards (e.g. PaySafeCard or Neosurf).
Account Currency Base: USD or EUR.
Axiory Europe is a reliable and licensed EU broker, offering high-speed interbank market execution through the famous MT4 platform.
Axiory Europe Review Conclusion
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