FXAxe Review: A Transparent Way to Learn Forex Trading
Forex is the buying and selling of currencies across a decentralized exchange. It represents the world’s largest asset class with around $5 trillion being traded daily.
The main ‘players’ in the Forex markets include the big banks, global corporations conducting overseas business, hedge fund managers and retail traders.
Is it possible to make money trading Forex?
Forex trading is essentially speculating on currencies which are paired and weighted against each other - for example if you believed the Euro would rise in value against the US Dollar, you would enter a buy EUR/USD. With Forex being the most liquid asset class, it presents a great opportunity to diversify your investment portfolio.
FX Axe was founded in 2016 by a group of traders in London with the aim to provide transparency in the retail market.
FXAxe Overview. Image via FXaxe.com
They have since build a team of Forex specialists offering a range of resources that help people achieve success while trading the Forex markets. They do this by providing a hub which gives traders access to the tools and information they need to avoid making common mistakes along the way.
- Trade alerts
- Technical and Fundamental Analysis
- Trade copying
- And Education as a focal point
FX Axe separate themselves from the typical industry lifestyle traders by focusing on teaching people to trade successfully, this is reflected by the amount of insight you can get simply by following their socials.
Following the FX Axe socials provides direct access to technical analysis, e-books, video courses and intra-day trading signals which are free of charge differing from similar companies.
We began our review of FX Axe to see how the speculative fiat industry weighed up in comparison to the cryptocurrency game.
Try before you Buy
FX Axe offer a free telegram group as an entry platform for anyone that’s curious about Forex trading. Here’s where you’ll find:
Forex trading alerts, analysis, and information about how to take advantage of relevant services. Posts are initiated by their analysts and webinar footage can also be found here along with YouTube content.
The content on the telegram is diverse, interactive, and free - A must join if you’re looking to start trading forex and want some FX insight from professional traders or simply want some tips. The traders are responsive and open to help and answer questions, without any hard selling.
Upon joining the Telegram channel, we were greeted by one of the FX Axe traders who messaged us personally offering us a free ten-minute consultation. All information on joining and other services can be found on www.fxaxe.com.
Where’s the proof?
One of the key selling points for any trading company is their willingness to show verified trading results. FX Axe publish their trading results via the MyFXBook platform for all clients and potential clients to follow.
MyFXBook is an online community which allows traders to attach their trading account directly through the platform reflecting all activity. Accounts have to be verified via the website in order for statistics to be honoured.
There are many companies and individuals that claim to have the ‘winning strategy’ but tend to get cagey when it comes to proving their own trading experience.
The FX Axe team gives an open insight into their trading statistics detailing what trades are taken when and the exact results. You are able to see key figures such as win rates, pips per trade and loss to win percentages.
What have FX Axe achieved?
Their trading history stems back to 2018 and glorifies the trading strategy which has led to 400% profits without a losing month within 3 years.
It’s fair to say that it breeds an element of confidence to know that what you are about to learn genuinely works prior to parting with your hard-earned cash. Aforementioned, the Telegram group has an ongoing funnel into the trades which are being placed and the charts which are being analysed, highlighting the highs and lows of the FX Axe trading experience.
Course and Education Services
There are a handful of options tailored to suit different learning styles and different capabilities, the price points reflect the amount of time invested from the professional traders at FX Axe.
We were enrolled into the ‘FX Axe Academy Gold’ package for a 3-month period which consisted of a virtual education portal accessible 24/7 with guides, videos, and courses. With this package we were also offered lifetime access to all educational content as well as a lifetime invite to the paid community which provides ongoing support.
The ‘Guide to Profitable Trading’ or ‘GTPT’ course is an in-depth course packed with a full syllabus videos and quizzes, this course works hand in hand with weekly one-to-one mentoring sessions which comes as part of the gold and silver packages.
The mentoring sessions gave us an opportunity to go through elements of the course with their professional traders, talk strategies and get priceless insight into the intricacies of Forex trading.
The mentors worked closely with us to create a personalised learning plan, with the ‘mantra’ being that all traders have different expectations and personalities.
All in all, the course is easy to digest and accessible on the go through the website. It is broken up into 4 sections and is a walkthrough to profitable trading. It includes details on Forex trading which is difficult to obtain online and made easy to digest by seasoned traders. Things can get relatively advanced, but the one-to-one Zoom sessions help to iron out complications if any at all.
What trading strategy do they teach?
One of the key takeaways from the educational course was the number of strategies which we were introduced to. Generally, people promote one strategy as the ‘holy grail’, and this would be what their education will include. FX Axe has combined trading experience from multiple traders and blended strategies together to suit different elements of trading.
We were taught strategies for managing risk in different market conditions, strategies for approaching different currency pairs dependent on the volatility and averages and executing trades, but most importantly different risk strategies which help to protect your capital.
The traders were strict in making sure that we kept an open mind with our outlook to trading and strategizing “never fix anything”, “the markets change too frequently, be adaptable”.
If you are familiar with what FX educators usually sell, the message is usually to stick to one particular strategy or approach so expect a refreshing contrast when learning through FX Axe.
FX Axe makes it clear that they are here to make money and build a team of profitable traders through their transparent offering, which we found to be reassuring.
The FX Axe Zoom sessions added another dimension to the personalised service, with trading being practical as well as theory the one to ones enhance the understanding of the markets b sharing screens. FX Axe have an interactive booking system which allows you to book your sessions in advance and schedule in Zoom sessions.
The education is designed to make traders confident enough to protect their balance (most importantly), and become knowledgeable of the markets, as well as the industry learning from a retail and institutional perspective.
For traders that have never traded before we have been able to achieve 3% in our first month of discretionary trading after the course. The sessions are very personable, and we sometimes we had assistance from two traders or a trader and an analyst which helped us with different elements of the course.
We joined the FX Axe Trading Community for a direct insight to their specialist forex trading know how. Although we weren’t quite confident enough to share charts and get involved in analytical discussions, we most definitely felt as if we had earned some ‘skin in the game’ by seeing the engagements in the community and picking up on jargon.
We were able to get a taste of the FX Axe interactive daily education and analysis videos which helped us to get a better idea of the trading strategies beyond what we already received in the free Telegram group.
FX Axe also provides mindset coaching which is often overlooked or misconstrued in the Forex industry. Controlling emotions is so important in the markets and FX Axe provides some really effective tips and techniques to help traders to treat trading like a business and eliminate elements of gambling.
One of the ways they do this is by setting out weekly goals and targets for their members.
By using these techniques in line with the personalised FX Axe Academy Education plans traders are able to trade in a way that suits their psychology and provides more peace of mind when trading the markets.
They welcome beginner traders to experienced traders from all over the world who discuss trading, chart setups and more. The community is suitable for all skill levels and provides an environment where you can share your forex journey with like-minded individuals.
You are able to tailor the notifications to receive news updates, trading tips, video posts and other useful content. One of the main benefits is access to premium signals which are traded live by the FX Axe traders and supported by analysis. These premium signals can also be automated so you can sit back and watch your account grow.
Trading on the Move
We initially followed some of the free signals on their telegram channel and were impressed with the accuracy. Despite FX Axe recommending you learn how to trade rather than rely on the signals posted, it represents just another service accessible to their clients.
Trading alerts around the clock straight to your handset…
We tracked 1400 pips made with 595 pips profit through the trades we managed to follow.
Sometimes signals would be posted overnight, and we wouldn’t be able to place them, but it shows the FX Axe team do work round the clock to provide signals in a 24-hour industry and their copy trading service accessible via the Trading Community is clearly beneficial to ensure you catch all their trades as and when they place them.
The premium signals via the VIP Trading Community are handpicked and backed up with analysis. However, once in the Trading Community we opened up a demo account and followed their copy trading service. It enabled us to follow every trade they placed, without delay or fear of missing out any winning positions.
This service provided in the community gives you an opportunity to earn whilst you learn how to trade the markets and the only hub you need to be updated with market movements and information.
We know how difficult the road to profitability can be in Forex or trading in general. Not only are market strategies, education, signals, and chart analysis important and all included in Axe’s services, but they go further and help you on a personal level with your trading mindset, emotional resilience and assist with creating a personalised trading plan that suits you and your lifestyle so you can trade around your other commitments - whether that be looking after your family, full time employment.
Finding good transparent help with learning can be difficult within the industry being the wild, wild, west notorious for the multiple vendors online and scams galore, but FX Axe are clearly one of the good players.
They aren’t too shy to open up their own trading accounts and let investors have a look and their traders help you around the clock in an industry where the market never sleeps - just like our crypto world!
FX Axe will guide you through every step of your journey to profitability. All in all, we received a transparent service from professionals that clearly eat and sleep Forex, they are clear and precise and the passion they have for teaching and trading is obvious from the get-go.
Do they get every single trade right? No, of course not, but with an 83% winning rate it’s clear that they are a good company to buy into if you intend on learning a skill that can make yourself a living.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.