Depending on the amount of money a customer deposits with AXI, the company can charge a deposit fee. However, this fee is waived if the deposit amount is less than US$50,000. This means that a customer can start investing and trading stocks and then withdraw their profits without paying extra fees. To start using AXI, customers must deposit at least US$50. Otherwise, they may have to pay a $25 fee when withdrawing their profits.
Minimum deposit
The minimum amount you must deposit in an Axis Bank savings account depends on the type of account. Some Axis Bank savings accounts have a minimum balance of Rs 2,500, while others require a minimum deposit of Rs 100,000. For account holders living in metro cities, the Axis minimum deposit requirement is Rs 12,000, while those in semi-urban and rural areas have a lower limit.
You can open a savings account, a joint account, or a certificate of deposit account with Axis Bank. Each account type has different minimum balance requirements to accommodate different target audiences. You must be an Indian citizen or a member of a Hindu Undivided Family to open an account. In addition, you must provide ID proofs for both the account holder and joint account applicants. You must also provide bona fide authorization letters from your employer if you are a salary professional.
Leverage
Leverage is the ability to make large sums of money on a small amount of money. With Axis, you can leverage up to 1:400 and trade with as little as 0.01. Axi also offers a 20% deposit bonus to help you open more positions. This bonus is not limited to your initial deposit, so you can withdraw the bonus money whenever you want.
Leverage levels at AxiTrader are relatively high for European traders. Generally, European traders can use up to 1:30 leverage when trading with the currency pair. In other jurisdictions, leverage can be as much as 1:500.
Customer service
To use AXI’s trading services, you need to deposit a certain amount. For example, if you deposit US$5,000, you’ll be able to invest in stocks and earn interest. You can then withdraw your profits without extra fees. However, if you deposit less than $50, you may have to pay a $25 withdrawal fee.
You can fund your account with debit or credit cards. However, you’ll have to wait a few days to see your funds, especially if you use your debit card. Alternatively, you can fund your account with free bank transfers, which may take a few business days to reflect. In addition, you may have to pay bank fees. For example, the minimum withdrawal amount is 50 USD with a bank transfer, but if you’re using bitcoin, the minimum deposit is only $5.
Regulation
If you are considering opening a savings or current account with Axis Bank, you need to be aware of the minimum deposit regulation. This regulation often varies from bank to bank depending on your location and category of account. The minimum balance requirement for an Axis account varies from Rs.2,500 to Rs.1,000,000, depending on the target audience. For example, if you live in an urban location and want to open an Easy Savings account, you’ll need to deposit a minimum of Rs.12,000 monthly. In addition, you’ll need to provide ID proofs of both applicants. And if you’re a salary professional, you’ll need to submit a bonnet authorization letter from your employer.
Axis has also recently changed its minimum balance regulation for its savings accounts. Previously, the bank had a flat monthly charge of Rs.5 for each alert but has now lowered this charge to 25 paise per SMS alert. The new minimum balance regulation is effective as of April 1, 2022. This change also affects the minimum balance requirements of easy savings accounts and similar programs.
Demo account
A demo account with Axi is an excellent way to get started when a person is looking to learn how to trade currencies. The Demo account comes with a virtual balance of up to $50,000 and lasts thirty days. The customer can choose a practice standard or a pro account to practice trading without risking any money. The demo account also includes a $1000 welcome bonus for new investors. However, the bonus is not available to clients in the European Union, but Axi has excellent educational tools for EU traders.
When trading in a live account, you need to understand the risks and benefits of each trade. For this reason, demo accounts are very important to learn the basics of trading before you invest real money. A demo account is designed to mimic the trading environment in the live market as closely as possible. However, some differences may exist, such as order rejection and execution.
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