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Everything about AxiTrader seems exquisite and up to industry standards. The website is optimized and it’s very easy to navigate through it. Does AxiTrader stand out as a broker though? Read on to find out.
AxiTrader has two subsidiaries in operation.
AxiTrader UK is a trading name of AxiCorp Limited. Since it’s based in the UK, the job of regulating and overseeing its operations falls on the shoulders of one of the best in the business: the FCA. The FCA enforces strict financial, investment and industry standards all the while working within the confines of the law. Not only that, but those traders under the watchful gaze of the FCA are eligible for a compensation of up to £85 000, as issued by the Financial Service Compensation Scheme (FSCS).
A: No, Absolutely not, Your spreads and commissions on your Axitrader account will remain the same as before. Company News 10 USD No Deposit Bonus on FxOpen AU Broker.
AxiCorp Financial Services Pty Ltd or as it’s know by the business name AxiTrader is the proud holder of an Australian Financial Services License as issued by Australia’s answer to the FCA, ASIC. ASIC endeavors to promote a safe and informed trader participation within the world of online market by working side by side with the law. ASIC does not extend its influence far enough to provide a compensation fund, yet those under its regulation are free to grant higher leverages since ESMA has no authority in Australia.
The average spread with the Standard Account for EUR/USD is 1.3 pips. With the Pro Account it’s 0.1-0.2 pips, without the commission. The leverage in the UK and EU is limited to 1:30. Those outside it can take advantage of a much larger leverage of 1:400.
At AxiTrader you can trade with the following instruments: currency pairs, commodities (metals, gold, silver), oil and indices. It’s a let down that they don’t offer any shares or cryptocurrencies.
Get full access the AxiTrader in the following languages: English, Arabic, Chinese, Dutch, Spanish, Hungarian, Indonesian, Italian, Polish, Russian, Hindi, Vietnamese.
AxiTrader keeps it simple and classic with Metatrader 4, but includes a new PsyQuation Premium terminal that changes things up a bit.
METATRADER 4
MetaTrader 4 is by far the most popular trading platform out there, making it the number one choice for trading. MT4 encompasses a to-the-point look and feel without sacrificing any accessibility. With MT4 you can set automated bots to trade instead of you so that you can indulge in other activities while profit is made (or lost). MT4 also comes with over 50 customizable trading indicators, trading from the charts, one-click trading and many more pros. The platform also allows for VPS’s hosted by AxiTrader. The point of the VPS is to let the auto trading bots trade, without worrying that his job will not be interrupted by a power failure or net crash.
AxiTrader adds a staggering amount of very helpful tools and extensions that will greatly improve your MT4 experience. Some of the most prolific are: Autochartist that scans the market continuously and alerts traders once an opportunity presents itself, and the Multi Account Manager that lets traders copy orders from one master account on an unlimited number of accounts.
The leverage for non-EU/UK can reach up to 1:400, while those limited by ESMA are subject to a maximum leverage of 1:30. The average spread with the Standard Account for EUR/USD is 1.3 pips, while using the Pro Account traders should expect 0.1-0.2 pips (without commission).
Pro Account holders will be commissioned $3.5 (per side) for 1 standard lot, which shifts the spread of 0.1-.0.2 pips to an actual minimum spread of 0.8-0.9 pips.
Give MT4 a go for PC, Mac, Apple/Android devices. There is no web based trader.
PSYQUATION PREMIUM
Without getting into too much details, we claim that this platform is quite impressive. It uses sophisticated algorithms to better your chances at trading, while also analyzing your own trading history to suggestions for improvement. Not to mention it comes stuffed with tools and options for all traders to indulge in. Last but not least, it’s also extremely user friendly but encompasses a slick and aesthetic design.
The leverage for non-EU/UK can reach up to 1:400, while those limited by ESMA are subject to a maximum leverage of 1:30. The average spread with the Standard Account for EUR/USD is 1.3 pips, while using the Pro Account traders should expect 0.1-0.2 pips without the imposed fees.
Pro Account holders will be commissioned $3.5 (per side) for 1 standard lot, which shifts the spread of 0.1-.0.2 pips to an actual minimum spread of 0.8-0.9 pips.
PsyQuation Premium can be used on phones, on a web browser, and as a stand alone desktop version.
There is no minimum deposit, but the broker advises traders to deposit at least $200 if they are to take trading seriously.
The payment methods are: Debit and Credit Cards (Visa, Master, Maestro, JCB), Neteller, Skrill/Moneybookers, Global Collect (only for Australian clients), BPAY (only for Australian Clients) China Union Pay, Bank Transfer, Broker to Broker Transfer.
The base currencies are: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, USD.
The time to fund an account takes up to 1-3 days for Broker to Broker Transfer, Bank Transfer (3-5 days on occasions), China Union Pay and Global Collect. All other methods should take a maximum of 15 minutes.
There are no fees attached to deposits.
The FCA gives its word that a withdrawals are safe and smooth as they can be.
The withdrawal methods are as follows: Neteller, Skrill/Moneybookers, Global Collect, BPAY, China Union Pay, Bank Transfer.
There is a slight confusion about withdrawal times, because two pieces of information are in complete contradiction with one another:
The snippet on the right was taken from the official AxiTrade Product Schedule. As you can see, we are left to speculate. Yet, process times are on average between 3-5 days; anymore than that and our advice is to contact customer support.
There are no commissions for withdrawals issued by the broker. However, individual payment systems may tax you for transactions.
If a request is less than $20, banks will not provide international withdrawal payments. For local or using other methods the minimum amount for withdrawal is non-existent.
AxiTrader builds a solid foundation for traders to prosper in, and makes some compromises that fertilize their grounds even more. There are no nuisances, nor any major problems.
With two solid regulators working back to back, AxiTrader is a great place to start or continue trading.
Broker | Country | Rating | Min. Deposit | Website |
Cyprus, Australia, Belize | 5/5 | $5 | ||
UK | 4.95/5 | $30 | ||
UK | 4.95/5 | $50 | ||
UK, Australia | 4.9/5 | $200 |
This broker did not score well during our testing process and is not recommended by our experts. We strongly suggest choosing a broker that has gained a high score through excelling in all departments instead. To learn more about how we test and recommend brokers, read our methodology.
This broker was not featured in our 2021 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.
We review all brokers to a strict and unique methodology, to ensure that we only promote high quality brands that you can trust. This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. All brokers are then given a score out of 100. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information.
If a broker has a score less than 80, like this one, we won’t recommend it to you. So that we don’t waste your time, we don’t update these reviews either. We know you don’t want to read a long review of an untrustworthy broker. Instead, you can use the tool below to find a high-scoring broker that accepts clients from your country.
Discover a broker you can trust by reading our in-depth and honest reviews, created by industry experts. Since 2015, we’ve reviewed over 200 forex brokers.
AXITrader is the trading wing of AXICorp Financial Services Pty Ltd., which is an Australian based company that has been in the industry since 2001. They had ventured into the Forex Market by offering a wide range of FX brokerage services since 2008 and have recently been awarded numerous accolades, including the award for the most trusted broker in Australia. AXITrader is one of the largest Forex brokers in Australia and is among the fastest growing companies in several parts of the world, including US, UK, and Europe.
Bonus | No |
Regulation | ASIC, FCA |
Mobile | Yes |
Instruments | Forex and commodities |
Website | www.axitrader.com |
Not Verified |
AXITrader accepts US traders, which is a huge positive for the company. AXITrader is one of the very few brokers that operate in the US as well as the EU and Australia. However, AXITrader is not a full-fledged entity; rather, the company offers its services as an Introducing Broker under the AXITrader white-label platform. AN IB broker can bypass several regulatory guidelines that are usually reserved for mainstream Forex brokers, which helps the company to set up its base in the US. However, as far as NFA and CFTC regulations are concerned, AXITrader should conform to all regulatory protocols to ensure that the traders receive honest and transparent brokerage services.
Since AXICorp is situated in Australia with its headquarters in Sydney, AXITrader regulation is carried out by the ASIC. AXITrader has also set up a representative office in the UK and is regulated by the FCA as well. Therefore, AXITrader can be considered as a trusted and reliable broker that satisfies most of the modern-day traders’ requirements. Being regulated by multiple regulatory organizations also require the broker to adhere to the most varied set of regulatory guidelines, which makes it more oriented towards safeguarding client interests.
The company allows you to open an AXITrader account without any minimum deposit. Of course, opening an account without an initial deposit doesn’t serve the purpose of trading. Therefore, the absolute minimum that traders can deposit into the broker is $200. $200 is a small amount of money, but the broker does not support smaller deposits that most other companies provide, which can be a disadvantage for ultra-small traders. Nevertheless, the $200 initial deposit allows clients to open an MT4 standard account, which is basically a market maker model. The AXITrader spreads on the Standard account starts from 1 pip, but the company promises to offer even lower spreads according to the market conditions.
There is a second type of account at AXITrader that is available for a minimum deposit of $1000. The MT4 Pro account is an ECN account that offers up to 0 pips in spreads and a commission of $7 per round lot. All other features of both the Pro and Standard accounts are similar to each other, and the only difference provided by the different spreads and the commission per trade. Both accounts have access to over 80 different financial assets including currency pairs and commodities and support features such as VPS access, free Autochartist, and a maximum AXITrader leverage of 1:400. AXITrader supports high margin trading for all countries except the US, where AXITrader is forced to reduce the maximum available leverage to 1:50 due to the NFA and CFTC regulations.
Traders can also take advantage of the AXITrader demo account, which offers unlimited access to the market. AXITrader does offer an unlimited demo account that does not have an expiry, and can be operated with a virtual $10,000 balance. Most of the trading conditions are simulated in live markets; therefore, the demo account should be able to offer a good indication of how an AXITrader account performs in a live market scenario. Although the company offers tight spreads, there can be differences between the demo and real accounts. Traders have reported a significant difference in spreads between a demo account and a live account, which is something that the broker should address if they are supposed to gain the trust of their clients.
AXITrader clients can deposit and make withdrawals using bank transfers, credit card payments, or through online payment processors such as Neteller, which seems to be the standard form of payments for most FX brokers. Strict ASIC and FCA regulation force the broker to keep client funds secure in segregated accounts, which prevents the company from misusing such funds.
AXITrader offers the MT4 platform as the standard interface for Forex and commodities trading. The broker hasn’t bothered to design any proprietary trading interface. The MT4 platform is indeed popular and highly trusted, which makes it easy for AXITrader clients to enjoy simple trading software for all trading needs. AXITrader mobile trading can also be performed on MT4 mobile apps, therefore, mobile traders will be able to access their AXITrader trading accounts through multiple devices supporting Android and iOS.
The company guarantees to offer no re-quotes, which induces slippage. The company is open about its policy on slippages and warns its clients on both positive as well as negative slippage. The only significant problem is that the broker can increase spreads, which will negatively affect traders, especially those who trade for the short term such as scalpers.
It is also impossible to get an AXITrader bonus, as the company does not entertain any promotions. The company had offered bonuses in the past but has faced several criticisms on their terms and conditions. Conflicts of interests had forced the broker to remove promotions entirely by providing a straight-forward brokerage service without indulging in rewards or bonuses.
AXITrader is an excellently regulated broker that provides high-quality FX brokerage services by actively indulging in the best practices in Forex trading. They also employ a team of highly professional and friendly AXITrader customer support agents, who can be accessed through live chat, email, client portals, or by calling the respective offices in more than 12 different countries. The customer service department is available 24 hours a day and will take care of all client problems in a meticulous manner.
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