Axi Enters India with a New Office

Axi, an Australia-headquartered forex and contracts for differences (CFDs) broker, has expanded its physical presence by opening a new office in Bangalore, India. Although confirmed today (Monday), the India office was inaugurated “a few weeks ago.” The new office is being headed by Axi's Head of Engineering for the region and has about 30 staff and has plans of futher expansion in the "coming months."

“Members of our executive team travelled to India for the office opening, spending a productive few days meeting the team and gaining insights into the rapid growth in Bangalore,” Axi wrote in a social media post.

Axi confirmed to Finance Magnates that the new office is a a technology and product centre and will "not only complement what is being delivered in our other group offices, but also to become a source and delivery centre for new initiatives."

"India’s deep pool of engineering talent is widely-known and respected, and it is a country we have been keen to set up in for a while," a spokesperson from Axi said.

A Broker with a Global Presence

Axi operates from multiple global locations, including offices in Australia, the United Kingdom, China, Singapore, Malaysia, Cyprus, and now India. Earlier, Axi confirmed the opening of a Dubai office, fully regulated by the Dubai Financial Services Authority (DFSA). Additionally, the broker is licensed in Australia, the UK, and St Vincent and the Grenadines.

Apart from its usual CFD offerings, Axi has entered the prop trading sector, becoming one of the first established brokers in this emerging market. Unlike most players in the prop trading industry, Axi offers live trading to prop traders and has even questioned the sustainability of the demo account-based prop trading model.

Meanwhile, Axi is heavily investing in marketing and has recently renewed its major sports sponsorship deal with English football club Manchester City. The broker also signed the club’s footballer, John Stones, who plays for the English national team, as its brand ambassador. Axi’s sponsorship efforts extend beyond English football, with an existing partnership with the Brazilian football club Esporte Clube Bahia.