Axi Trader Review
AxiTrader was founded in 2007 and it is an Australia-based FX broker. The AxiCorp group of companies is authorised and regulated by the Financial Conduct Authority of the United Kingdom and the Australian Securities & Investment Commission.
AxiTrader is considered safe because it has a long track record and is regulated by multiple top-tier authorities.
BENEFITS OF FOREX TRADING WITH AXITRADER
| Australian Owned
Australian owned, operated and regulated
Best pricing aggregated from the world’s leading liquidity providers
| 24/5 Support
Dedicated Account Manager & 24 hour support
| Low spreads
The lowest spreads on a wide range of Currency Pairs, Metals & Indices.
Axi Trader Summary
The account opening at AxiTrader is user-friendly and fully digital. It took ~2-3 business days until our account was approved.Pros
- Fully digital
- No minimum deposit
- Bit slower account opening
Can you open an account? AxiTrader accepts clients from almost all countries. There are some exceptions, e. g. you can not open an account if you reside in the US, Iran, Iraq, Japan, etc.
AxiTrader is no longer available for clients in New Zealand because the local regulator suspended AxiTrader's license.
AxiTrader has low trading fees. It doesn't charge an inacitvity fee and withdrawal fee. On the other hand, the financing costs are not the lowest.
- Low trading fees
- No withdrawal fee
- No inactivity fee
- Higher financing rate
|Minimum Initial Deposit||$0.00 - $1000|
|Average Spread EUR/USD - Standard||1.24 (as of Feb 17)|
|All-in Cost EUR/USD - Active||1.14 (as of Feb 17)|
|Active Trader or VIP Discounts||YES|
AxiTrader charges neither withdrawal nor deposit fees. For deposit, you can use bank transfer, credit/debit cards, and electronic wallets. However, for withdrawal only bank transfer is available.Pros
- Free withdrawal
- Several account base currencies
- Credit/Debit card deposit available
- Only bank transfer available for withdrawal
AxiTrader offers only forex, CFDs, and cryptos. It lacks real stocks, ETFs, mutual funds, bonds, options, and futures.
AxiTrader has a great forex and crypto offers. The stock index and commodity CFD offers are average, while the stock and ETF CFDs are missing.
|Forex: Spot Trading||YES|
|Currency Pairs (Total Forex pairs)||80|
|CFDs - Total Offered||65|
|Social Trading / Copy-Trading||YES|
|Cryptocurrency traded as actual||NO|
|Cryptocurrency traded as CFD||YES|
AxiTrader is a MetaTrader-only broker. This means it offers products from the suite of platforms from MetaQuotes Software corporation, developer of the widely popular MT4 and MT5 platforms for desktop, mobile, and web. To learn more about MT4, read our full MetaTrader guide.
While MetaTrader 4 comes standard, with little that varies from broker to broker, on the surface of the platform there can be significant differences in how the platform is set up for trading spreads and commissions, the available execution method, and other tools, features, and administrative areas that can affect your trading experience.
Besides spreads, range of instruments, and account types, here is a summary of the differences in features between AxiTrader’s available MT4 platform setup and the default MetaTrader experience:
- MT4 NexGen package offered as available add-on
- News headlines stream from Dow Jones Newswires
- AutoChartist plugin available
- MT4 installation file wrapped in Windows Emulator for MAC OS Installation
AxiTrader is regulated by a number of regulators. It is a well-established brand but it is not listed on any exchange and does not have a bank parent.
AxiTrader is not publicly traded and does not operate a bank. AxiTrader is authorised by two tier-1 regulators (high trust), zeo tier-2 regulators (average trust), and zero tier-3 regulators (low trust). AxiTrader is authorised by the following tier-1 regulators: Financial Conduct Authority (FCA), and Australian Securities & Investment Commission (ASIC).
AxiTrader was established in 2007. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises.
Having a long track record being and regulated by a top-tier regulator are all great signs for AxiTrader's safety.
You can contact AxiTrade in a lot of ways and you'll get relevant answers. On the negative side, customer support is only available 24/5, and e-mailing is slow.
- Live chat
- Relevant answers
- No 24/7
- E-mail is slow
- live chat
You can contact them only in English.
AxiTrader has a great live chat. An agent is connected almost immediately and the relevancy of the answers was satisfactory. We got relevant answers from AxiTrader phone support. The speed was average, there were times when waiting took longer than expected. On email, we got slow but relevant answers. There were cases where we didn't get a response at all. We missed 24/7 availability as well.
From my side what We have to say is positive. No complains about spreads and execution (Pro account. They provide great leverage (1:400) decent spreads
Uptime of the platform has no issues, even during critical times. Deposits and, most importantly, withdrawals by bank transfer are quick (last one in almost 24h, SEPA standards) at no cost.
They have a great support team, friendly fast and helpful. Overall, assessment is positive.
- Good Trading platform tutorial and videos.
- Great economic calendar.
- Regulated by FCA and ASIC.
- Average spread data not updated since December 2016