AXITRADER Review: Is AxiTrader one of the best Australian Forex Brokers and if, why? We conducted an in-depth AxiTrader review in [todaysdate format="F Y"] to find out the answer and deliver it to you!
The broker AxiTrader was launched in the year 2007 in Sydney, Australia, and has advanced to become one of Australia’s largest Forex brokers. AxiTrader is part of the AxiCorp group, (AxiCorp Financial Services Pty), which has exhibited consistent growth since its formation and now ranks as one of the top 10 global Forex providers in the world.
With offices in four regions around the world (including London, United Kingdom) and clients in over 150 countries, AxiTrader is an Australian broker firm with a global reach.
The philosophy and business idea that underpins AxiTrader has always been based on one simple idea: To be the broker that traders themselves want to trade with.
| 💻 Trading Platform | MetaTrader 4 |
| 🏢 Head Office | Sydney, Australia |
| 📅 Founded | 2007 |
| ⭐ Reviews | 6.2 - 7 Reviews Trust Pilot |
| ↔ Maximum Leverage | 400:1 |
| 🖥 Execution Servers | LD5 |
| 📡 Broker Type | STP |
| 💰 Negative Protection | No |
| 📊 Trading Options | Forex, CFDs, Crypto |
SECURITY, MARGIN REQUIREMENTS AND TECHNOLOGY
RISK MANAGEMENT AND SECURITY FEATURES
In Summary
- ASIC licensed and regulated
- High-level standard web security
- FCA licensed
- Cuts out dealing-desk partially
Our AxiTrader review highlights that the company AxiCorp, as a global market leader, takes security very seriously. They are authorised, licensed and regulated by the Australian Securities and Investment Commission (ASIC) as well as the Financial Conduct Authority (FCA) of the United Kingdom. Axicorp Financial Services Pty Ltd holds an Australian Financial Services License (AFSL).
All monies received from AxiTrader's clients are held in segregated trust accounts and dealt with in accordance with the Australian Corporations Act 2001 and the associated regulations.
The online broker AxiTrader was named as the brand traders ranked the most trustworthy in the 2014 Investment Trends Australia FX Report.
As a global market leader, AxiCorp, and therefore also AxiTrader, takes security very seriously. AxiTrader is licensed and regulated by the Financial Conduct Authority (FCA) as well as the Australian Securities and Investment Commission (ASIC).
Spreads Comparison
AxiTrader
PEPPERSTONE
THINK MARKETS
IC MARKETS
XM
Alpari
FEES AND MARGIN REQUIREMENTS AT AXITRADER
In Summary
- 1 pip spread mark-up on STP acc
- Up to 400:1 leverage
- $7 commission per standard lot round-turn on ECN-type acc
As is the case with most online Forex brokers, customers pay a variable or fixed spread on every non-equity CFD and commissions / fees on every equity CFD order on what is typically defined as a standard trading account.
In our AxiTrader review we found that AxiTrader’s Standard Account works without any commissions or additional fees. Instead, spreads are being marked up by 1 pip above the inter-bank rates received from AxiTrader's liquidity providers.
The AxiTrader MetaTrader 4 Pro account (AxiTrader MT4) shows the raw inter-bank spreads which are received from the broker's liquidity providers and competitive commission fees of US$7 per standard lot round turn applies when using this account option. No additional fees are charged for trading index CFDs on the Axi Trader MT4 account solution.
As described on AxiTrader’s website, customers holding open positions with the broker must maintain minimum margin requirements as detailed in their Client Agreement. These margins start from 0.25%. All positions have an initial margin requirement, and traders are required to keep an account balance over and above that requirement and any unrealised losses. Margin calls can be made at short notice and can lead to substantial losses that can exceed initial investments. A risk warning, that CFDs are complex instruments that pose the high risk of losing money, needs to be issued at this point.
TECHNICL FEATURES AT AXITRADER
In Summary
- Solid execution speeds
- Unique MT4 NEXGEN
- Mobile Trading
- MAM & VPS available
With their motto ‘One Platform. Any device. Endless possibilities.’ the broker is considered the golden standard for the MT4 trading platform in the Forex industry. AxiTrader, in fact, doesn't offer any other trading platforms apart from the popular MetaTrader 4 (MT4) environment for all devices and operating systems (Windows, iOS (MAC)), Android, iPhone and iPad). Instead, MetaTrader accounts with an interesting twist are being offered: Unique extra trading tools, features and functionalities to the traditional platform environment that help any trader to take better control of their trading strategies. Automated trading is being offered along with many other standard and advanced features of today's Forex trading platforms.
These additional features, compiled under the MT4 NexGen banner, include advanced management tools, enhanced ordering options and sentiment trading.
The broker also tries to allow for fast execution speeds where slippage is reduced to a minimum and Forex market access is being guaranteed at all times. However, our AxiTrader review highlights that slippage does occur quite frequently with any type of trades, which is a major drawback for most advanced and professional traders.
To top up Metatrader 4, the new PsyQuation Premium platform is available for those traders that are looking for an even more advanced and higher performing trading platform than the standard PsyQuation platform. PsyQuation has already been recognised as one of the world's most advanced and professional trading platforms and trading tools for retail traders. The trading platform provides many powerful and unique indicators, quantitative models that are at an institutional grade level and trading signals that are updated frequently. It's a powerful trading tool that can seriously boost any traders' performance by providing high quality information and highly relevant data.
PsyQuation Premium powers up a standard PsyQuation account by allowing exclusive access to a suite of highly advanced trading tools such as the Order Flow Sentiment Indicator (OFSi) which can view the Buy and Sell order flow of 22,000+ live trading accounts. This allows for filtering detailed trade information by segments.
Account and asset managers can further make use of the broker's Multi Account Manager (MAM), which is an integrated software and platform tool that allows an individual trader (account manager for example) to execute block trades on multiple or all accounts operating under one designated master account. A set of orders can be quickly and efficiently placed in bulk to a virtually unlimited number of accounts. Users can choose from six distinct allocation methods: Lot Allocation, Proportional By Balance, Percent Allocation, Proportional by Equity, Allocation By Equal Risk and Equity Percent Allocation.
Execution of Speed Comparison
AXITRADER
PEPPERSTONE
THINK MARKETS
IC MARKETS
XM
Alpari
CUSTOMER SUPPORT, TRADING INSTRUMENTS AND SPECIAL FEATURES
CUSTOMER SUPPORT AND AXITRADER CLIENTS
In Summary
- 24/5 customer support
- 2 account options to select from
- Global reach with big client base
- Educational material
‘Created by traders, for traders, the company AxiTrader is a modern Forex broker built on old fashioned values of honesty, transparency and trust.’
With clients all over the globe, the online broker AxiTrader offers high-quality, multi-lingual 24/5 customer support through live chat, a toll-free phone hotline and email. Our review found, that their award-winning service was named ‘#1 for Customer Service’ in the December 2013 Investment Trends Australia FX Report.
The broker focuses mainly on Forex trading by offering a large selection of currency pairs but not many other financial instruments which may be a disadvantage for some traders.
Clients can select from two different live account options upon sign-up: The AxiTrader Standard MetaTrader 4 account comes with no commission fees and offers spreads from 1.0 pips. The minimum trading size is at 0.01 lots (micro-lots), and no minimum deposit size is required.
The second account option is the MetaTrader 4 Pro account, which offers ultra-low spreads from 0.0 pips and a standard commission of US$7 per round trip. The minimum trade size is also set to 0.01 lots, and there is no minimum deposit requirement.
One of the biggest drawbacks with this Forex broker are the very limited options for deposits and withdrawals. Deposit methods only include debit and credit cards (VISA, Mastercard, Maestro and JCB), Neteller, Skrill, bank wire transfers and broker to broker funds transfer. Payment options vary depending on the client's country of residents and are very limited as well.
Both account types offer maximum leverage of up to 400:1. Investors need to keep in mind, that the higher the selected leverage setting, the greater the chance of losing your money when trading CFDs. Overall, most retail investor accounts lose money trading on margin.
Customers can also set up a demo account to test Axi's trading environment and their offering before entering the markets with real money. Trading strategies and trading tools can also be tested freely on a demo account. In our broker review we also tested AxiTrader's offer, trading environment, financial instruments and the customer service offered with both demo, as well as live trading accounts.
In total, more than 80 financial instruments such as currency pairs, indices CFDs, commodities and metals can be traded with any of the two AxiTrader account varieties and clients may choose from ten different account currencies (including AUD, USD, EUR, GBP, etc.). Share or share CFD trading is not offered by this Forex broker. Cryptocurrencies, such Ethereum, XRP, Litecoin, Dash, Stellar Lumens or others are not in the broker's portfolio on offer. At the point of writing this review, the only digital asset available for CFD trades is Bitcoin.
In terms of educational material and trading resources Axitrader offers a selection of free webinars, video tutorials and eBooks as well as a standard economic calendar. No fees or extra charges apply when utilising these tools and resources.
FOREX, CFD AND OTHER FINANCIAL INSTRUMENTS AT AXITRADER
In Summary
- 80+ tradable instruments
- 1 cryptocurrency (BTC)
- 11 indices CFDs
- Maximum leverage 400:1
AxiTrader offers a total of 80 different tradable financial instruments such as Forex pairs, a variety of index CFDs, metals, oil and other commodities as well as Bitcoin CFD trading. Share trading is not available.
Our review highlights that traders can choose to trade the various options mentioned above on some of the world’s top markets with indices CFDs such as the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, Germany’s DAX 30, Japans Nikkei 225 and Hong Kong’s Heng Seng 50.
AxiTrader offers leverage of up to 400:1, ten different funding currencies, micro-lot trading starting from 0.0 lots (with an AxiTrader Pro account) and ultra-low spreads of 0.1 pips. There is no minimum deposit requirement for account holders.
Commissions and fees for an AxiTrader MetaTrader 4 Pro Account are set at a $7 per standard lot round turn but can be reduced depending on trade sizes, frequency and strategy.
At this point it should be highlighted once again that trading CFDs poses a high risk to any retail investor's capital and most retail investor accounts lose money with margin or CFD trades. Losing your money when trading CFDs is always possible.
SPECIAL FEATURES
In Summary
- ECN-type environment with Pro Account
- Tight spreads & leverage up to 400:1
- Various VPS offering
- Top-notch technology including unique MT4 add-ons
AxiTrader offers very low, tight spreads from 0.1 pips, high leverage of up to 400:1 and 80 currency pairs, which is, on average, 20 pairs more than most MetaTrader 4 brokers in Australia.
Account holders can also trade Exotic Margin Forex currency pairs from Asia and South America including Brazilian Real, Malaysian Ringgit, South Korean Won and Chinese Yuan Renminbi.
Most trading strategies and types, such as scalping, hedging and Expert Advisors (EAs) are allowed.
AxiTrader offers traders access to top-notch technology including unique MetaTrader 4 add-ons, features and tools such as ‘AxiTrader NexGen’. Furthermore, the new PsyQuation Premium platform is available for those traders that are looking for an even more advanced and higher performing trading platform than the standard PsyQuation. PsyQuation is being recognised as one of the world's most advanced trading platforms for retail traders. The platform offers many powerful and unique indicators, quantitative models that are at an institutional grade level and frequently updated trading signals.
When using AxiTrader’s MetaTrader4 Pro Account, traders can enjoy an ECN-type environment with lower spreads and generally faster execution speeds. Commissions on the Pro Account are $7 per standard lot R/T.
AxiTrader further offers a few interesting VPS service options, which are especially beneficial to high-frequency traders or those who use automated trading strategies. With special discounts of up to US$34.99 per month, AxiTrader clients can, for example, benefit from the group’s collaboration with the ForexVPS solution, which offers very fast trade execution via the New York-located SSD drives.
AxiTrader has also partnered with Beeks FX and offers a discounted rate for Beeks FX VPS hosting. Trading with Beeks FX VPS ensures rapid trade execution, a stable environment and high accessibility.
Other VPS services that can be utilized by AxiTrader clients are MetaTrader VPS (by MetaQuotes) and Commercial Network Services.
Traders who manage multiple accounts can take advantage of the Multi Account Manager (MAM) system, which allows account and money managers to manage a lot of different accounts from one location.
AxiTrader offers multi-channel funding and also allow broker-to-broker transfers from selected companies.
Clients have access to tools like AutoChartist, which is one of the top performing chart pattern recognition plugins on the MetaTrader 4 platform and can be directly applied to a trader’s charts.
AxiTrader offers traders access to top-notch technology including unique MetaTrader 4 add-ons, top-notch technical analysis tools and features such as the PsyQuation Premium platform, AutoChartist and more.
Max Leverage Comparison
AXITRADER
PEPPERSTONE
THINK MARKETS
IC MARKETS
XM
Alpari
IN CONCLUSION
AxiTrader is one of Australia's most popular and major online Forex brokers offering its clients a very decent trading experience with medium-high leverage, tight spreads, original MT4 trading platform features and mostly reliable service. Average spreads are at a competitive level and fees are transparent. The broker offers some unique tools and features such as bespoke MT4 add-ons, advanced charting and trading tools such as AutoChartist and PsyQuation. Unfortunately, the selection of financial instruments, as well as deposit and withdrawal methods is quite limited and can't compete with other major players in the industry.
FREQUENTLY ASKED QUESTIONS ABOUT AXITRADER
| where is AxiTrader located?
AxiTrader is an Australian based (Sydney), owned, and ASIC regulated Forex broker. The company further maintains several offices in major financial hubs around the globe, enabling them to serve customers in all corners of the world during business hours 24/5.
| who owns it?
AxiCorp is the parent organization of the AxiTrader, AxiPrime and AxiSelect brands. AxiTrader is the company’s flagship business as an online retail foreign exchange broker.
| how to fund an AxiTrader trading account?
You have the following funding options available:
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 (only for Chinese residents), Bank Transfer, Broker to Broker Transfer
| is AxiTrader regulated?
Yes. AxiTrader is authorised and regulated by the Australian Securities & Investments Commission (ASIC), AFSL number 318232.
AxiTrader UK is a trading name of AxiCorp Limited which is registered in England and Wales under registered number 06378544. AxiCorp is authorised and regulated by the Financial Conduct Authority (FCA), Reference Number 509746.
| is AxiTrader FCA regulated?
Yes, AxiTrader UK is licensed and regulated by the FCA.
| is AxiTrader legit?
Yes, they are! AxiTrader complies with strict regulations and is licensed and regulated by the Australian Securities and Investments Commission (ASIC) as well the Financial Conduct Authority (FCA) of the UK.
Clients’ funds are held save and securely in separated, segregated trust accounts with top-tier banks.
| is AxiTrader a market maker?
To understand if this Forex broker is a market-maker or not, we need to look at their trading account and execution models. There are two trading account options with AxiTrader.
AxiTrader acts as a market maker with their MT4 Standard trading account option, where spread-mark-ups are applied but no additional charges or commissions occur. Their MT4 Pro Account is an ECN type trading account option with fixed commissions and no additional spread mark-ups. With this trading account option AxiTrader does not act as a market maker and there is no dealing-desk intervention.
| AxiTrader withdrawal methods
Withdrawal options are limited to:
Credit & Debit cards (VISA & Mastercard), Neteller, Bank Wire Transfer
| withdrawal limit
There are no minimum or maximum withdrawal limits at AxiTrader.
| does AxiTrader accept clients from Canada?
Yes, AxiTrader does accept clients from Canada, however applications from Canadian residents of the state of Ontario cannot be accepted. Please review AxiTrader's comprehensive terms and conditions to view all applicable legal information.
| is AxiTrader a True ECN broker?
AxiTrader offers an ECN-type account option with their MT4 Pro Account. Their Standard Account is not a true ECN account and spread mark-ups apply. With this Standard Account type, AxiTrader applies a market maker brokerage model.
| brokers like AxiTrader?
IC Markets is one of Australia's leading Forex brokers with a very strong offering and excellent trading conditions. They are ASIC regulated, offer a range of platforms and account solutions and a large portfolio of trading instruments such as Forex, indices, metals, commodities, shares, cryptocurrencies, bonds, and much more.