AxiTrader Review

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Who are AxiTrader?

AxiTrader were established in 2007 and are an Australian ECN broker with offices in Sydney. They are fully regulated by the FCA and by the ASIC. The main selling point of AxiTrader is that they present themselves to be founded by a trader for traders. Their products and services have been widely appreciated in the online trading industry and have won a number of international awards like Best Financial Institution of the Year 2014. AxiTrader also accept US customers via their parent company, AxiTrader USA. With AxiTrader you can trade on currencies but also offers options to trade gold, silver, oil, indices and CFDs so lots of opportunities for traders here.

What are AxiTrader’s spreads and fees?

Similarly to the majority of brokers AxiTrader do charge a fee from the spread. The spread is the difference between the buy and sell of a given financial instrument. Below we have listed AxiTrader’s minimum spreads and compared with other online brokers that we are featured in TopTradingPlatforms.co.uk. The colour bar will allow you to see rather easily how competitive AxiTrader spreads are.

Fixed

AxiTrader Spread Fixed

Variable

AxiTrader Variable Spread

As we can see Axitrader’s minimum spread for trading EUR/USD is 1.2 pips which is a bit high compared with the other brokers average EUR/USD spread of 0.82 pips. For other currencies pairs though Axitrader is a lot more competitive.

What are AxiTrader’s Features and Account Types?

AxiTrader Trading Platforms are fully loaded with features. They have some very interesting like the Autochartist feature which scan the markets continually and automatically can spot trade set-ups based on the support and resistance levels. If the system finds out an opportunity than it does alert the traders. With Autochartlist traders can get automated technical analysis like chart patterns, key levels and also Fibonacci patterns. Volatility analysis and performance statistics are also provided. Myfxbook Autotrade is a unique selling point for Axitrader as you won’t find with any other brokers. Also Myfxbook is a social and copy trading community that will connect traders via their AxiTrader MT4 account. When traders are connected to the platform they can decide to follow experienced traders or let other people follow them. In the second case they will be paid up to half a pip per lot that they trade. With AxiTrader you can also scalp and hedge as both are permitted.

AxiTrader Platforms

AxiTrader provide their traders the popular MT4 trading platform. They also have a Power Trade Program that is used for larger volumes and mainly dedicated to Institutional accounts. AxiTrader MT4 platforms can be used both with PCs and Macs and there are apps for Android and iPhone devices so that if you are on the go you can still trade seamlessly.

Another unique feature of AxiTrader is the MT NextGen: this powerful trading platform has advanced features like a mini-terminal in addition to the advanced charts that help traders been more accurate in the money management, exit and enter trades quicker and also apply complex order types to secure a profit in a different market situations. With MT4 Next Gen you can also import news feeds and follow traders on social media like Twitter. There is also an economic calendar with alerts for news events: all it is sitting inside this powerful platform.

AxiTrader MT4 Trading Platform

AxiTrader do also offer Multi Account Manager (also known as MAM): this is an integrated software that allow a single trader to execute block trades on all accounts by operating under a master account. MAM is a very good and reliable service that can really help account managers servicing their clients. It is worth noting that the Multi Account Manager solution is only provided to approved and regulated operators of discretionary accounts or managed investment schemes.

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Does AxiTrader provide education?

AxiTrader has a very qualitative Education Center where beginner traders can get free training on the basics of online trading. There are lots of videos available and traders have the ability to go over lessons as many time as they require. The tutorials are in 24 different languages and cover all topics of financial trading from rick management, greed and overcoming fear of loss to charts, technical analysis and so on. In addition to that free market reports are available at least 3 times a day and as trader you will also receive the Market Snapshot emails which will give an overview of the markets for the following 48 hrs. AxiTrader also have a very comprehensive FAQ list which can really benefit new traders as some questions are not easily available on the web.

What are AxiTrader deposit and withdrawal methods?

As you would expect AxiTrader allow to deposit and withdraw money from your account in many different ways. You can make a transfer with your bank or pay with Credit Card or any major e-wallet. Traders with AUS bank account can withdraw without commissions but broker can charge around 15 to 25 dollars for withdrawal in international bank accounts.

How good is AxiTrader Customer Support?

You can get in touch with the broker’s training desk 5 days a week from 7:00am AEST (00.00 server time) Monday morning and ending at 07:00am AEST on Saturday morning. AxiTrader has offices around the world so almost at anytime you can get in touch with an agent. Their customer support is in 12 countries and 6 languages so you won’t have problems to reach them. During working hours there is also a live chat feature and traders can request a call back even if they are not registered. The company can also be reached in their toll free Australian’s number. We have tested the quality of their customer service and we were satisfied with the answer and speed or resolution.

Conclusion

AxiTrader is one of the top Australian online trading brokers. Their platform is really good and have an excellent training program that will help massively beginners to improve. The interface is well developed and it is intuitive to use. AxiTrader offers lots of different trading options and they are a 24-hour service meaning that you can always reach them. Their spread are tight and the execution is really fast. In our tests we identify a very minimal slippage. The fact that they offer many different accounts and trading platforms and that are full FCA regulated make them an overall well rounded broker.

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Axitrader Key Information

  • Established – 2007
  • Regulation – Financial Conduct Authority, UK (FRN: 509746), and ASiC (AFSL #318232)
  • Min Initial Deposit – £200
  • Max Leverage – 1:400
  • Spreads – from 0,1 pips

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PROS

tickSegregated Clients Funds

tickEstablished in 2007

tickFully Regulated by FCA and ASiC

tickMin deposit low from £200

CONS

ConsNot CySEC Regulated (see alternatives)

General Fees

  • Axitrader doesn’t charge inactivity fees
  • Axitrader withdrawal fees varies on payment method

Commissions

  • Axitrader does charge commission on CFD shares

Trading Features

tickAllows scalping

tickAllows hedging

tickOffers STP

tickLow Minimum Deposit

Accounts Offered

tickDemo account

tickMicro account

tickMini account

tickStandard account

tickZero Spread account

tickECN account

tickIslamic account

Are you not sure? Why not opening a demo account to to try yourself!