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General Information
Broker Name:AxiTrader
Broker Type:Forex
Country:Australia
Operating Since (Year):2008
International offices:55 Baker Street London W1U 7EU United Kingdom
Regulation:ASIC, 318232
Address:Level 10, 90 Arthur St, North Sydney, NSW 2060 AUSTRALIA
Broker status:Regulated
Customer Service
Phone:1300 888 936
Email:[email protected]
Languages:English, Spanish, Japanese, Chinese, Russian
Availability:GMT+3
Trading
Trading Platforms:MetaTrader 4, MT$ NexGen
Trading platform(s) timezone:GMT+3
Demo Account:Yes
Mobile trading:Yes
Web based trading:Yes
Other trading instruments:currency pairs, CFDs, spot metals, commodities, and indices.
Account
Minimum deposit ($)$200
Maximum leverage (1:?)1:400
SpreadVariable
Scalping allowedYes

AxiTrader Review 2020

Review Contents:

  1. Introduction to Axitrader review;
  2. AxiTrader Account Types;
  3. Trading Instruments at AxiTrader;
  4. Trading Conditions at AxiTrader;
  5. Safety of Funds, Regulations, and Licenses;
  6. Additional Information About AxiTrader;
  7. AxiTrader Review Conclusion.

Introduction: Highly Regulated and Diverse Broker

AxiTrader has been around since 2007, initially under the name AxiCorp, in Australia. Since then they have managed to extend their reach to Britain in 2012, China in 2015, and Germany in 2016. They keep expanding to this day and serve 150 countries overall.

This AxiTrader review will provide you with the full information you need to know about the broker. We aim to help you with the decision of whether they are worth trading with or not. Most of the user reviews online do come off as quite positive. They say how AxiTrader maintains their trust by never trading against them, and providing comfort to all users.

AxiTrader is known for its straightforward “no-nonsense” approach. They rank high in customer service, training tools, and general transparency. Though they do come with some drawbacks which, in our experience, make a huge difference for traders. The disadvantages of AxiTrader will be further discussed at the end of the review.

 

AxiTrader Review 2020

AxiTrader Account Types

AxiTrader stands out in their customer care, so they decided to make their account types inclusive. They offer two main accounts MT4 standard and MT4 pro, for beginners and pro traders. AxiTrader requires no minimum deposit for either of the accounts, and the main difference lies in the spreads and commission per trade. The accounts offer features such as:

  • No minimum deposit
  • Up to 1:400 leverage
  • MT4 NexGen
  • Mobile trading
  • EA optimized for automated trading
  • Account currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
  • 5 digit pricing
  • 80+ currency pairs, commodities (metals), and CFDs

You also have a chance to use the 30-day demo account. That way you will be able to test the services before you deposit. If you are a beginner, this is also a great option for you to develop your skills before you commit money.

Though AxiTrader does not offer many options, the account types provided are basic and easy. Some other brokers call such accounts standard accounts. Most of the brokers now have at least 4 different trading accounts for all kinds of traders, from complete novices to esteemed veteran investors. AxiTrader’s accounts are good enough, but it would be nicer to have more options, like Islamic accounts for example.

 

AxiTrader Account Types

 

Trading Instruments at AxiTrader

AxiTrader is mainly focused on the Forex market, due to which they offer 80+ currency pairs. They have major, minor and exotic pairs on the list. They also offer trade with special metals such as silver, gold, paladin, and platinum. Other commodities provided are crude oil, natural gas, and soft commodities like soy, coffee, and cocoa.

The equity indices available at AxiTrader are also vast. They offer access to stock exchanges from Asia, Europe, and the USA. Additionally, there are 6 cryptocurrencies you can trade with, such as Bitcoin, Ethereum, Ripple, Dash, and Litecoin.

Seems like AxiTrader has most of the financial instruments to offer to their clients. Their currency list is quite strong and popular, so you have a chance to take part in the biggest market in the world. The offered CFDs are quite limited though compared to most of the brokers. But it is definitely a plus that they provide crypto trading as well.

 

Trading Conditions at AxiTrader

AxiTrader provides the MT4 platform to its users. This platform is widely used by many Forex and CFD brokers globally. The Expert Advisors provided by the platform make it quite popular among traders.

AxiTrader gives its users access to MT4 NexGen after they have deposited over $1000. NexGen MT4 comes with huge specs which aid with trading. See below.

  • Sentiment indicator — you can see what other traders are doing to gain further insight
  • Correlation trader — spot new opportunities and cut down on the management costs
  • Alarm manager — customizable reminders
  • Economic calendar — set alerts to big economic events
  • Net terminal window — additional tools, such as alerts, templates, etc.
  • Automated trade journal — improve the analysis through your personal trade journal
  • Session map — view the open markets
  • Mini manager — entering and exiting trades become quicker and easier

Traders also have a chance to trade on mobile via AxiTrader. Since most of the world is always on the move, it is nice to have the option to trade from wherever you are. If mobile is not your favorite choice, you can also trade from your desktop via their app.

The spreads depend on the market, but AxiTrader has the lowest spread available: 0 pip. The commission varies with the account types. Pro accounts will be charged $7 for every trade they make.

This is quite steep for a broker since traders tend to invest a lot on a daily basis. The commission could add up to triple digits quite quickly so make sure to take this into consideration.

 

Safety of Funds, Regulations, and Licenses

Safety of Funds, Regulations, and Licenses

AxiTrader is proud of its regulators. They are under the jurisdiction of two best financial institutions in the world, the Financial Conduct Authority (FCA) in the United Kingdom and the Australian Securities & Investments Commission (ASIC). The trustworthiness of AxiTrader is very obvious due to these regulations.

AxiTrader is obviously a reliable broker. They have been winning awards for their customer service and care of their clients’ needs since the beginning. In 2012 they received a prize for a broker with the “Best Spreads”. They have gained their reputation as Australia’s most trusted Forex Broker.

As for the safety of funds, AxiTrader provides segregated client account to users. The company’s funds are kept separate from the clients’ so there is no impact on personal funds at all. Personal and financial information is also stored in cold servers which are inaccessible to hackers.

Overall, we are very satisfied with the regulations, licenses, and the safety of funds at AxiTrader. They seem to be a trustworthy broker. It means that you do not have to afford to take the high risk of losing your money, or unlikely to lose money when trading.

 

Additional Information About AxiTrader

AxiTrader website is simple, stylish and informative. The menus are very easy to navigate for all users. They offer all of the information about the company in one tab. You can see their policies, risk disclaimers, history, etc. with ease.

The customer service at AxiTrader has won awards in the past. Traders can get in touch with support via live chat on the website. The live-chat asks for quite a lot of personal information at the beginning, but we assume that is for better and specific service. You can also get in touch with them via email, which they reply to within 24-48 hours and phone numbers with different languages available. In addition you can call them toll-free. You may get in touch with them 24/5.

AxiTrader also provides some educational material, though quite basic. They offer courses to beginners where they teach about Forex trading and more. Though there are no actual webinars or live courses, so you will have to do all the studying yourself. That comes in handy to some users, but to complete beginners that is not really a great option.

The payment options are truly quite broad though they are also average for the industry. AxiTrader offers all major transactions, such as:

  • Broker to broker transfers
  • Credit cards
  • International bank wire transfers
  • Local bank wire transfers
  • Skrill

The list is short but precise. It is unfortunate that non-Australian citizens will have to pay extra fees between $15-20 for each international transfer. That is a sizable downside, but comparing to other brokers it does not really differ too much. Deposits and withdrawals are made very easily and do not take too much time.

Additional Information About AxiTrader

 

AxiTrader Review Conclusion

AxiTrader is one of the veterans within the Forex industry. Their approach to their business is explained by their motto “founded by traders for traders.” That explains why their services are quite good and why so many traders choose to work with them.

Their services are above average, the products they offer are quite basic for the industry, their regulations and security of funds are truly outstanding. The impression we’re left with is mainly positive, but the limited selection of CFD instruments is disappointing.

The lack of benefits, bonuses, and promotions that the broker offers also pushes AxiTrader down the list amongst other brokers. After gaining such a loyal customer base, AxiTrader should come up with a system to reward their loyalty, as other brokers do. The demo account is only valid for 30 days, which might be enough for professionals to test the platform. Though, beginners will have to find somewhere else to practice their skills.

In terms of the trading execution method, AxiTrader is providing hybrid executions. AxiTrader is providing hybrid executions, which might include it acting as a principal dealer. Besides, it sends orders to LP (liquidity provider) or a third-party dealer as an agency broker.

Furthermore, signals and automated technical analysis are provided with the help of AutoChartist. It is a third-party technology provider. Moreover, it is famous for its pattern recognition software.

AxiTrader is also offering signals of automated trading with the help of the auto trade feature in Myfxbook. It is a third-party provider that powers the economic calendar of AxiTrader. From ZuluTrade, further social copy-trading features are available.

As already said, AxiTrader is only a MetaTrader broker. Thus, it means that it is offering products from a suite of platforms to software corporation of MetaQuotes and with the Signals Market in the MT4 platform offering firm. Moreover, in 2017, AxiTrader added the platform of MirrorTrader by Tradency.

Aside from AutoChartist, in terms of trading tool-related research, there are excellent researcher tools packaged into the MT4 NexGen add-on of AxiTrader.

Do the Pros Outweigh the Cons?

Now let us sum up the highlights and features of AxiTtrader. The countries of regulation for AxiTrader are Dubai, the United Kingdom, and Australia. The trading fees class is low. Moreover, there is no idleness fee charged.

The minimum deposit and withdrawal fee amount is $0. It takes from one to three days to open the account. Deposit with debit and credit cards are available. Moreover, you can do depositing with an electronic wallet.

It supports eleven base currencies. A demo account is also provided.

The products include Crypto, Forex, and CFD.

Thus, Virtual trading (demo) is available. Besides, there is no proprietary platform. It supports Web Platform and Desktop Platform (windows). Copy Trading and Social Trading are also available.

The MT4 (MetaTrader 4) is possible, but the MT5 (MetaTrader 5) and cTrader are not available. Charting – studies/indicators in total are 51. Charting – Drawing tools are 31. You can trade from the chart.

AxiTrader provides total fields of seven.Furthermore, AxiTrader is launching CFDs on Bitcoin offering just around a 2:1 leverage at a 40% initial margin requirement. The maximum trade size is ten lots. To Monday through Friday, trading is limited.

Margin rates for forex vary by currency pairs. It ranges from 1% on major currency pairs to 10%.

In 2017, the number of tradeable pairs reduced from 120 to 94. AxiTrader is still catering to a broad range of traders through its FCA-regulated Brand.

Overall, the conditions for trading provided by AxiTrader are fine, though they could be better. The modern Forex industry keeps developing quickly and seems like old-timers are having a hard time keeping up. Though the provided platforms are quite popular, they are not the MT5. Having a larger option of account types would be better as well.

AxiTrader initially leaves a strong impression, but the deeper you dig the more disappointments you find. In the end, no broker is perfect and we must accept the drawbacks if they are minor. Hopefully, this AxiTrader review helped you realize the pros and cons and aided your decision.

We hope this AxiTrader review, will help you picking up correct broker. Good luck trading!

 

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Overall
4
  • Support
    (4)
  • Platform
    (4)
  • Spread
    (4)
  • Trading Instrument
    (4)
Comments Rating 1.93 (319 reviews)


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