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Based on my research and personal assessment of Axis Bank as a broker, I was unable to find any verifiable evidence regarding specific commission structures per lot for ECN or raw spread accounts. Axis Bank offers a range of financial services, including forex, but according to all available information, the firm operates without any formal regulatory oversight for its trading services. In my experience, this is a significant red flag, especially when crucial trading terms like commissions are not transparently disclosed. When a broker operates without credible regulation and does not clearly publish details about commissions, spreads, or account types such as ECN or raw spread options, I find it difficult to place trust in their platform for serious trading activities. While Axis Bank may be a well-known financial institution in India, there is no concrete data on whether they provide true ECN or raw spread forex accounts, nor on whether commission is charged per lot—two elements I consider fundamental for an informed and safe trading environment. As a conservative trader, I strongly recommend caution. In cases where fees and trading conditions are opaque and regulatory backing is absent, the potential risks outweigh any perceived convenience or broad service offerings. For me, transparency about costs and robust regulatory protection are non-negotiable prerequisites before committing any capital.