Review of AxiTrader
AxiTrader is one of the largest and most reputable forex brokers in Australia To see how this broker compares or to have look at our best online broker reviews. Founded in 2007, AxiTrader is owned and managed by a UK based holding company called AxiCorp Ltd., which is also a wholly owned subsidiary of an Australian company called AxiCorp Financial Services Pty Ltd. AxiTrader has built its award-winning reputation on trust and reliability. It is a well regulated entity that falls under the jurisdictions of two leading financial regulatory agencies, the Financial Conduct Authority (FCA authorization number: 509746 ) in the UK and the Australian Securities & Investments Commission (AFSL number 318232 for ASIC’s authorization). Under this scheme, UK based traders can claim up to 50,000 pounds in compensation should AxiTrader ever become insolvent. It draws clientele from all over the world, but it has a very strong client base in Australia.
AxiTrader offers its clients a wide range of trading products beginning with 80 different currency pairs, including all the major currencies and crosses. Most of the tradable commodities futures are also offered by AxiTrader in the form of CFDs, including gold, silver, palladium, natural gas, and oil. Some of the agricultural commodities are also offered via CFDs. CFDs are also offered for index futures and index cash futures. AxiTrader has also made available for its clients cryptocurrency CDFs for Bitcoin, Litecoin, Dash, and Ripple. AxiTrader does not make market in ETFs, stocks, or bonds. Check out the Best forex brokers and best CFD brokers for more updates.
AxiTrader only offers two types of trading accounts, an MT4 Standard account, and MT4 Pro Account. As can be seen in the table below, both types of accounts are very similar with the exception of spreads and commissions that are payable per trade.
|Account Feature||MT4 Standard||MT4 Pro|
|Spreads||From 1.0 pips||From 0.0 pips|
|Commission||None||$7 round trip (USD)|
|Minimum Trade Size||0.01 lots||0.01 lots|
|Markets||80+ FX pairs, Metals, CFDs||80+ FX pairs, Metals, CFDs|
|Pricing||5 digit pricing||5 digit pricing|
|Trading Features||EA optimised for automated trading||EA optimised for automated trading|
|MT4 Next Generation Trading||Yes||Yes|
|Margin||Up to 400:1||Up to 400:1|
|Free Auto Chartist||Yes||Yes|
|Available Account Currencies||AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD||AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD|
|Demo Account||30 Days||30 Days|
|Other Account Features|
AxiTrader does charge a swap rate for Margin FX Contracts and Futures CFDs. It is a variable rate that is dependent on the currency pair or CFD, the applicable swap rate in the interbank markets for the relevant dates, the size of the position, and the AxiCorp Spread. AxiTrader does not segregate account funds. Islamic accounts, and managed accounts are available. AxiTrader does charge fees for funding and withdraw transactions. For Australian traders, there are no charges for local bank transfer. International bank transfer can cost between $15 to $25. Withdraws can take up to 5 business days. Accounts can be funded and withdraws made by the following methods:
- Debit and Credit Cards (Visa, Master, Maestro, JCB)
- Global Collect (only for Australian clients)
- BPAY (only for Australian Clients)
- China Union Pay (only for Chinese residents)
- Bank Transfer
- Broker to Broker Transfer
Opening an account with AxiTrader is usually completed with 24-hours and requires a valid ID (i.e. passport, driver’s license, or national ID), and proof of address (i.e. bank statement, utility bill, or tax invoice dated within the last three months and issued to your name and address). AxiTrader accepts U.S. clients through its American subsidiary, AxiTrader USA.
As made obvious by the names of the account types, AxiTrader uses Meta Trader 4 (MT4) as its primary trading platform. MT4 is a very popular platform that is widely used by the forex trading community. It has features and trading tools that accommodate every level of trared from a beginner that is learning the basics, to advanced traders that programs, backtests, and implements
sophisticated algorithmic trading systems. There are many online MT4 resources and communities, some free and some not, that can be referred to for assistance in learning and mastering MT4. The AxiTrader MT4 platform allows for the following features and tools. As Mt4 is the standard for many brokers, it’s worth reviewing the Best Trading platform review.
Trading Platform Features and Tools
|Platforms & Tools||MT4 Standard||MT4 Pro|
|Stop loss Orders||Yes||Yes|
|Expert advisors (EAs)||Yes||Yes|
|Direct market access||Yes||Yes|
AxiTrader offers 24 hours a day during the entire trading week. Communication with the support team is available by email, live chat or by calling the support team via telephone. Languages supported include Arabic, Chinese, English, German, Hungarian, Italian, Polish, Russian, Spanish, Thai.
AxiTrader has an entire section of its website dedicated to a trader education center. The center includes tutorials and instructional videos that range from basic to advanced concepts and trading techniques. Also included are various online courses right from basic forex introduction to in depth market analysis and how to improve trading strategies. Additionally, Axitrader also posts daily market updates to helps its clients stay well informed of the markets that it services. Many see Adi trader as a strong contender as the best broker for beginners.