The following sections of this article will discuss opening up an online trading demo account, in addition to some of the most notable pros and cons of using a demo forex account compared to using a live forex account for trading currencies. Other common demo account conditions that make them differ significantly from a real money funded account include broker-imposed time limits and fixed deposits of virtual currency. Generally known as a forex demo account, such accounts allow a trader to experience a hands-on demonstration of what it feels like to trade currency pairs in the forex market with that broker without putting any real money at risk.įorex demo accounts are generally offered free of charge by online forex demo brokers and are often funded with generous amounts of virtual money.Īlthough using a FX trading demo account has numerous benefits for traders, some caveats are worth mentioning since the mechanics of entering a demo trade and the resulting emotional responses a trader can have while managing it can differ significantly from the experience of live forex trading using their own hard earned money. The PDS and FSG are important documents and should be reviewed prior to deciding whether to acquire, hold or dispose of AxiCorp’s financial products.ĪxiCorp Financial Services Pty Ltd is an AFMA Member Organisation.As a common way of encouraging forex traders to use their deal execution services and deposit funds with them to use as trading account margin, most online forex brokers will offer a free forex practice account to potential or existing clients. AxiCorp recommends that you seek independent advice.Īll services are provided on an execution-only basis and no communication should be construed as a recommendation to buy, hold or sell any of the financial products issued by AxiCorp.Ī Product Disclosure Statement (PDS) for our financial products and our Financial Services Guide (FSG) are available at or can be obtained free of charge by calling AxiCorp on 1300 888 936 ( +61 2 9965 5830). AxiCorp does not consider your financial objectives or personal circumstances. Information contained on this website is of a general nature only. When acquiring our derivative products you have no entitlement, right or obligation to the underlying financial asset. You could lose substantially more than your initial investment. Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. AxiCorp (ACN 127 606 348) is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL number 318232. Therefore the client money rules do not apply to the business currently undertaken by AxiCorp Financial Services Pty Ltd (DIFC Branch).Īxi is a brand name of AxiCorp Financial Services Pty Ltd (AxiCorp).
AxiCorp Financial Services Pty Ltd (DIFC Branch) is regulated by the Dubai Financial Services Authority (DFSA) and holds a category 4 license with a 'Retail' endorsement and is not authorized to hold client assets or client money.