Axi, formerly AxiTrader, was founded in Sydney in 2007 and holds ASIC and FCA licenses. Its international website, axi.com/int, is a different story: Axi’s own FAQ says it’s operated by AxiTrader Limited, a company incorporated in St Vincent and the Grenadines.
Is Axi regulated?
AxiTrader Limited is registered by St Vincent’s Registrar of International Business Companies, and industry sources describe it as unregulated. St Vincent’s regulator doesn’t license forex brokers, so in our model this is a tier-4 registration. Axi also states that negative balance protection doesn’t apply to clients of the St Vincent company, which is why its client protection score is zero.
The licensed parts of the group are AxiCorp Financial Services Pty Ltd (ASIC AFSL 318232, New Zealand FSP 518226) and Axi Financial Services (UK) Limited (FCA 466201).
Axi in your country
- UAE: UAE clients are served through the DIFC branch of AxiCorp Financial Services, regulated by the DFSA (F003742). Axi notes that client money rules don’t apply to the business that branch currently carries out, so check what that means for your deposit.
- India: Axi isn’t on the RBI Alert List, but Indian residents are still limited by FEMA to authorised platforms.
- Saudi Arabia, Pakistan and Malaysia: no local license found; clients are served by the St Vincent company.
Who Axi suits
UAE traders using the DFSA branch get a licensed counterparty. Elsewhere in our region, Axi’s international business runs through an unregulated company without negative balance protection, and that’s a big trade-off for a well-known brand.