AxiTrader Review

AXITrader Review

Founded in 2007, AXITRADER is an online trading brand that is owned and managed by a UK based holding company called AxiCorp Ltd. The holding company is also a wholly owned subsidiary of an Australian company called AxiCorp Financial Services Pty Ltd. The broker is regarded as one of the most trusted online brokers in Australia. AXITRADER’s product offerings include a wide range of CFDs covering forex, commodities, precious metals and market indices. The broker also offers support in a selection of languages to cater for its global clientele.

AXITrader Regulations

In terms of regulatory oversight, AXITRADER falls under the jurisdictions of two leading financial regulatory agencies, the Financial Conduct Authority (FCA) in the UK and the Australian Securities & Investments Commission (ASIC). The authorization number for the FCA is 509746 and AFSL number 318232 for ASIC’s authorization. As a regulated entity under the FCA, traders from the UK are covered under the Financial Services Compensation Scheme (FSCS). Under this scheme, UK based traders can claim up to 50,000 pounds in compensation should ever AXITRADER becomes insolvent.

AXITrader Reliability

Since its founding in 2007, AXITRADER has won the approval of many online traders for quality services and the transparent way the broker operates. Beginning from 2012, AXITRADER has been winning awards in recognition of what the broker has to offer to its clientele. For example in 2012 at the CIOT Expo, it was named the broker with the “Best Spreads”.  Other achievements include being recognized as the most trusted and reliable broker for the Australian market. And with the stringent regulatory oversight provided the ASIC and the FCA, traders at AXITRADER never have to worry about the reliability of their broker.

AXITrader Trading Platforms

AXITRADER’s flagship platform is the MetaTrader 4 (MT4) platform supplied by MetaQuotes Software. The MT4 platform is widely adopted by the forex and CFDs trading industry hence making it the most well-known platform in the industry.

The MT4 is also well liked by traders from all over the world due to its numerous trading features. For example, the MT4 user interface can be customized to various languages. It also supports one-click trading and comes with a complete charting package. However, its most powerful feature would be the platform able to support automated trading through the use of programs called “Expert Advisors” (EAs). For tech-savvy traders, they can also create their own EAs with the integrated MQL4 programming language. There is also support for copy trading through the MT4 signal package. AXITRADER has also provided its traders with the MT4 NexGen. Those who have deposited more than $1000 will be given free access and a wide selection of trading tools not found on the basic MT4 platform. For money managers, the MT4 is also available as a multi-account platform. Through one terminal, the user of this MT4 Multi Account Manager will be able to control several accounts simultaneously.

AXITrader Mobile Trading

Traders who are constantly on the move no longer need to feel left from developments in the financial markets. This is because AXITRADER has also provided mobile-friendly versions of the desktop MT4 as apps which can be downloaded from Google Play Store or Apple App Store. These apps are optimized for smartphones and tablets and are full of powerful features that allow you to keep in constant touch with the markets through your smartphones.

AXITrader Trade Types/Instruments

At AXITRADER, you can trade the spot forex market or the CFDs market. For the forex market, AXITRADER offers a selection of 80 different currency pairs. For CFDs, you can choose from cryptocurrency, commodities, precious metals and market indices.

AXITrader Account Types 

To cater to both beginner and experienced traders, AXITRADER offers 2 main types of trading accounts, MT4 Standard trading account, and MT4 Pro Account. No minimum deposit is required to open any of these two accounts. The key differences that lay between them are the spreads and commissions that are payable for each trade made. Both these accounts have the following features:

• lots minimum trade size
• 5 digit pricing
• 80+ FX pairs, Metals, CFDs
• Account Currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
• EA optimized for automated trading
• Free autochartist
• Free Setup Cost
• FREE VPS*Yes
• Mobile trading
• Mt4 nexgen available
• No minimum deposit
• Up to 400:1 MARGIN

30 days demo accounts are also available for those who want to try out AXITRADER’s services before committing any real money.

AXITrader Commissions & Spreads

For the MT4 Pro account, the spreads are raw and depend on the market. However, the minimum available spread is 0 pip. Traders trading on the MT4 Pro accounts are also charged a commission of $7 for every trade that they made. For the standard MT4 account, the typically applicable spreads are as shown in the following table below:

AXITrader Deposits & Withdrawals Options

For deposits and withdrawal of funds, AXITRADER supports a wide selection of payment methods. They include the following:

• BPAY (AUD Only)
• Broker To Broker Transfers
• Credit Card
• International Bank Wire Transfer
• Local Bank Transfer
• Skrill

For Australian traders, there are no charges for local bank transfer. International bank transfer can cost between $15 to $25.

AXITrader Bonus & Promotions

At present, AXITRADER doesn’t have any kind of bonuses or promotional offers.

AXITrader Customer Support

The customer support service at AXITRADER is available 24 hours a day during the entire trading week. The trading desk, however, is only open from 7:00 am AEST Monday morning and ending at 07:00 am AEST on Saturday morning. To better service its traders, AXITRADER has support offices in major cities such as Sydney, Dubai, London, and Chisinau. Communication with the support team can be through email, live chat or by calling the support team through the telephone.

Pros and Cons

Pros

• Competitive spreads
• Copy Trading supported
• Localized support available
• Regulated in 2 jurisdictions
• Reliable trading platform

Cons

• Limited selection of CFD instruments

AXITrader Q&A

• Is AXITrader regulated?

Yes, AXITRADER is regulated by the FCA and ASIC.

• Where is AXITrader based?

AXITRADER is based in Sydney Australia but maintains offices in Dubai, London and Chisinau.

• How does AXITrader make money?

AXITRADER makes its money by charging its clients a mix of spreads and commissions on the trades that they made.

• How do I deposit in AXITrader account?

Funding of trading accounts can be done through bank deposit, bank wire transfer, credit cards and electronic payment systems such as BPAY and Skrill.

• How do I withdraw money from AXITrader?

Withdrawal of funds can be initiated through bank transfers (local deposit & bank wire), credit cards and BPAY.

• How do I open an account with AXITrader?

To open an account at AXITRADER, you need to fill up the registration form and submit it with all the necessary documentation required for verification.

• Is AXITrader reliable?

Yes, AXITRADER is a reliable broker. The broker has won several awards testifying to its reliability.

• Does AXITrader use MetaTrader?

Yes. AXITRADER uses the MetaTrader 4 trading platform.

• What is AXITrader leverage?

The maximum leverage ratio offered by AXITRADER is 1:400

• Is AXITrader a scam?

No. AXITRADER is not a scam. It has been operational since 2007.

• How safe is AXITrader?

AXITRADER is safe as the broker is regulated by both the FCA and ASIC.

Conclusion

From our review, it is easy to see why AXITRADER is so popular among Australian based traders. The broker is regulated hence offering traders the assurance that their money will be safe with the broker. In addition, they offer competitive spreads and excellent customer support.