- Is AxiTrader safe or a scam?
- Trading Platforms
- Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
What is AxiTrader?
AxiCorp Financial Services Pty Ltd or its trading name AxiTrader based in Australia and founded in 2007. After the successful operation during the first years, the broker been ranked among the most trusted Australia’s Forex brokers with the strongest brand association.
In 2012 as a part of the company global enlargement campaign, London branch AxiCorp Ltd was opened, as a wholly owned subsidiary of its Australian company.
10 Points Summary
|🗺️ Regulation||FCA, ASIC|
|📉 Instruments||Forex, Commodities as well CFDs and Indices, Bitcoin or Cryptocurrencies|
|💰 EUR/USD Spread||1.24 pips|
|💳 Minimum deposit||0$|
|🎮 Demo Account||Provided|
|💰 Base currencies||AUD, GBP, USD, EUR|
|📚 Education||Education center with analysis|
|☎ Customer Support||24/5|
As an established international group of companies, AxiTrader provides financial products focused on foreign exchange, primarily for retail investors. Tight spreads and fast execution come as standard on all accounts. The AxiTrader’s clients as well enjoying direct access to various liquidity providers from over than 14 world’s largest banks.
Furthermore, since the broker faced a significant increase in its volumes, AxiTrader launched operation and multilingual customer support in numerous locations and now covering China, Latin America, Middle East, Germany and more. Actually, and this is true that AxiTrader is known in the trading industry for its award-winning customer support.
Is AxiTrader safe or a scam?
Voted timelessly for its trustworthiness, AxiTrader is licensed and regulated by the two main authorization institutions Financial Conduct Authority (UK) and by the Australian Securities & Investments Commission. Since over-the-counter derivatives carry significant risks traders should be assured they’re dealing with a transparent provider, which can be provided only by the regulated broker.
|AxiTrader entity||Regulation and License|
|AxiCorp Financial Services Pty Ltd||Is authorized by ASIC (Australia) registration no. ACN 127 606 348 AFSL 318232|
|AxiCorp Limited||Is authorized by FCA (UK) registration no. 509746|
In this case, client’s funds are safely kept in segregated accounts with top-tier banks and secured by the compensation schemes. As well as all online transactions, executions or traders manipulations are fully encrypted and following operational guidelines.
AxiTrader mainstays at the technical solution through a platform – MetaTrader 4, presented in a Web, Android, iPhone and iPad versions. Good to note, that not all MT4 platforms created equal, as the broker may invest into a co-located server and fiber optics, in order to process more accurate trading or not.
Since MT4 is a well-known and powerful enough platform with a broad array of available tools, AxiTrader’s users enjoy access to automated trading performed via EAs, enhanced connectivity with a range of extensions, trading signals with allowance to share your strategies too.
As well, you can strengthen your strategies by Authochartist, as an AxiTrader client getting free access to flexible charts by the sophisticated tool – PsyQuotation.
For professional traders, the company offers to use Next Generation of MT4 – MT4NexGen. The platform filled up with better and proved features, which makes trading even better and including sentiment indicators, correlation trader, alarm manager, automated trade journals and many more. This platform is available free of charge for the clients who open a live account with the minimum deposit of 1,000$.
The ones who hold multiple accounts the integrated software tool Multi Account Manager (MAM) is the great and available solution, which lets placing of large orders in bulk with speed and no limitation.
From one MT4 terminal client can access the full range of widely presented by the company trading options, including Forex, Commodities as well CFDs and Indices, Bitcoin or Cryptocurrencies also can be traded the same way as major currencies. Overall, the broker covers the most demanding markets to trade, also UK residents can benefit from the Spread Bet option.
Opening an account with AxiTrader is an uncomplicated process, while account types are divided into two main ones – MT4 Standard Account and MT4 Pro Account. The difference between them features particular needs of a trader, while Standard account fees are built into the spreads, which starting at from 1 pips, and 0 pips at Pro Account along with committeemen to 7$ commission per round.
At the first stage and as a new to the trading, you also can open free 30-day trial Demo account with a virtual cash balance of £50,000 to practice skills and touch a trading process in a “real”.
With AxiTrader you’ll be able to keep your trading costs quite low, as the broker shows market-competitive spreads across a wide range of currencies, commodities and indices (see a table with average spreads for the standard account). During liquid times the spreads may go as low as 0.0 pips, and broker truly adheres to ensure costs at the most competitive available.
|Asset/ Pair||AxiTrader Average Spread Standard|
|Crude Oil WTI||0.05|
Another cost you should consider while trading is Swap Fee or an adjustment reflecting the relative difference in interest rates or yield on the underlying instruments. Typically, AxiTrader will charge Swap Fees on a Long Position and pay Swap Fees on Short Positions.
Yet, the traders that follow Muslim Sharia rules are entitled to open a Swap Free Account that is not subject to Swap Fees on FX Major, FX Minor and Precious Metals Symbols.
Leverage is a quite known instrument, which obviously multiplies the initial capital you trading with and can be a very useful tool to magnify your potential gains, but in case you use it smartly. However, always note that high leverage can work in reverse too.
AxiTrader as a regulated broker in various jurisdictions complies to provide different trading conditions according to what regulatory obligations set. The Australian clients of international traders that holding with ASIC regulated AxiTrader account are entitled to enjoy high leverage up to 1:400.
However, those traders that are operated under the European FCA regulation can use limited Leverage to a maximum of 1:30 on Forex instruments. These updated took place quite recently and are obligatory for the authorized broker, yet you as a trader may choose under which entity to open an account and therefore, have an option which leverage level to use.
Methods of Payment
AxiTrader account can be funded by several options including Moneybookers/Skrill, Neteller, Wire Transfer, Credit Card, and BPAY. Also, there are selected companies with whom company allows broker-to-broker transfers, so you can either transfer your account from another brokerage to AxiTrader.
As a client, you may also enjoy the possibility to have account base currency in GBP, USD, EUR, CHF or PLN and deposit funds in those major currencies as well.
AxiTrader’s has no minimum deposit requirements, you are free to deposit any amount.
All requests are processed through the secured client payment portal. Additionally, a pleasant compliment from the broker to the trader benefit is that been recently changed, AxiTrader covers all fees usually charged by the banks or processors either fees for withdrawals of deposits (usually a saving of 0.5% – 2.89%). Please be aware that your bank may charge you a receiving fee for any international payment upon your withdrawal transaction, and this fee will be incurred by you.
Overall we found the main Axi offering that adheres to access the online trading world with ease for fresh graduates, as well as sophisticated enough solutions for experienced ones. A truly comprehensive range of tools, at the AxiTrader’s mainstay MetaTrader 4 brings a very competitive technical solution to trade through market making execution.
As for the important question about margins, Axi offers access to flexible leverage options, that, of course, imply more risks but bringing a potential advantage too, the choice remains yours. In addition, the broker is a popular choice among Australian traders and worldwide investors that were convinced about the Australian service providing.
At last certainly, Axi Trader support service has to be highlighted along with the educational solutions offered to their clients. Since constant education and development is a primary tool for successful trading, traders of any level can find extensive materials to learn from the broker’s material hub.
Yet, we would love to hear your opinion on AxiTrader as well in the comment area below.
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