The trading world is a passionate and growing industry where the trading volume is constantly on the rise. Just a sample, cryptos have been traded 61% more compared to last year.
Choosing a broker in a world full of options might be difficult. On this AxiTrader review we have researched what this broker has to offer. This way you will be able to see the fundamentals of what you might need or not for your goals.
We have added information about their educational section, leverage, spreads, fees, and much more. We invite you to take a look!
AxiTrader was launched in 2007 in Sydney, Australia. They are now present in over 100 countries and have over 40 thousand clients.
This company has over 140 forex pairs, and in 2018 they added AxiTrader cryptocurrency to their assets. They have been recognized as an important forex broker. In 2019 they won the “best forex broker” in Europe and the Middle East. That same year they also received Best MT4 Forex Broker recognition, and this year ADVFN gave them the International Financial Award.
AxiTrader is regulated by top tier authorities such as the Australian Securities and Investments Commission (ASIC), Financial Conduct Authority (FCA) and the Dubai Financial Services Authority (DFSA).
They have 8 physical offices, but only three of these are specified on their website.
AxiTrader offers six trading tools. One of these is the autochartist. It is a plugin for MT4 that offers performance statistics of the last six months, chart patterns, volatility analysis and free market reports.
You can also access the MT4 VPS Hosting in order to be able to prevent a downtime on your platform. A third tool in the signal provider which will help you place trades automatically and access trading strategies.
Other tools include the economic calendar, PsyQuation and CFD rollover dates on important trading instruments.
Some of the non accepted clients, due to tier regulations are the US, Iran, Iraq, North Korea and a few others.
There are two live accounts that have a demo period of 30 days after signing up. The only differences between the standard and pro account are the spreads and the commissions.
The standard account had no commission and spreads start at 0.4 pips. The pro account has a $7 round trip (USD) commission, and spreads from 0.0 pips.
There is a demo account for anyone who would like a 30 day trial. With $50,000 worth of virtual funds, you can access real time spreads on a MT4 platform. Since this demo account only lasts a month, you can’t go back to it to try a new strategy once you have been trading for a while.
Deposits on AxiTrader are free, and they can be credited instantly into your account or take form up to one to three days. There are no minimum deposits.
Some of the base currencies you can deposit in are USD, GBP and EUR, but it will depend on the deposit method. You can choose between different methods such as a bank wire transfer, credit card, debit card or ePayments such as neteller or skrill.
On AxiTrader, the minimum withdrawal will depend on the method. For example, for bank transfers the minimum is $50. Others are only $5, and some are not specified, and will depend on your regulation.
There are no withdrawal fees, and it will take from 1 to 3 days for the transaction to finalize. The withdrawal methods include credit card, debit card, bank wire transfers and epayment.
The base currencies are the same as the ones you can use when depositing, a total of 11 such as PLN, AUD, CAD, EUR, and others.
AxiTrader does not charge inactivity fees. Trading fees include conversion fees which will depend on the currency, swap fees, spreads and commissions. There are commissions for clients who have a pro account of $7 round trip (USD).
The position size will depend on the live account you sign up for. The minimum trade size for both accounts is 0.01 lots. Spreads for pro accounts start from 0.0 pips and begins at 0.4 pips for the standard.
AxiTrader offers spread betting with tight liquidity, copy trading and hedging. You may also use automated trading by downloading a plugin called PsyQuation that allows you to follow top traders, observe their history and get ideas from them.
AxiTrader offers a good amount of risk management, such as market order, trailing stop, margin calls, stop loss, take profit, and trailing stops.
AxiTrader offers Forex, CFDs and commodities such as oil, gold, silver, copper, natural gas, coffee and cocoa. The only crypto asset available for trading is Bitcoin, and it is traded as a CFD.
In some regions there is a maximum of 400:1, but AviTrader offers leverage of up to 500:1.
There are four different platforms available. MT4 has over 150 assets, real time charting and can be downloaded to your Mac, PC, and mobile for both Android and iPhone.
The MT4 WebTrader is a platform that can be used directly from your browser, and it gives you access to MT4.
The third option is Axi One, a platform that is regulated by FCA and ASIS. It opens at 5 am Sydney time. PsyQuation is free for AxiTrader clients, and it is powered by Al & Machine Learning, an artificial intelligence system that learns your trading behaviour and alerts you for possible mistakes. They have something called a PQ score so you can compare yourself with other traders.
Free online courses such as trading strategy, stocks, market analysis, trading psychology, technical indicators, and more. They offer a trading glossary.
They offer video tutorials to learn how to trade using MT4. You can also register for seminars and webinars.
They offer free eBooks. It is a book series on trading such as understanding forex, how to use charts, positions sizing, system monitoring, and more
There is a CFD trading section that explains the basics in a few pages.
They have a trader blog that upload market analysis and market news written by their experts. They are published almost daily.
AxiTrader does allow copy trading strategies. You can do it directly from your MT4 platform and communicate with thousands of traders. You can access buy and sell strategies across the globe.
This company’s customer support is 24/5 from Monday to Friday. AxiTrader Live chat might be a good way to solve your doubts. Your other option is via email or phone number service. You can also contact them on their social media accounts like Twitter, Linkedin or look at their YouTube channel.
AxiTrade also has an FAQ section where you can find the most common doubts to answer your questions.
If you have decided to open an account with this broker, it is an easy electronic registration. We have set up the step by step process with screenshots to guide you through it.
1. First, go to their main page. You should see the logo on the top right and the menu bar next to it.
2. On the top right corner you should see a button that says “open account”. Go ahead and click on that.
3. You should be redirected to the sign up page and fill it in with personal information. They will ask you for your first, middle and last name. You will also have to specify if your application is individual, joint or company.
After adding you phone number, email address and country of residence, you must accept the privacy policy. Now you may click the purple “submit” button.
4. AxiTrader will want to verify your email. They will send you a verification link. If you don’t see it in your inbox, try your spam folder. If it is not there, you could try clicking on the resend button.
5. Once you have verified your email you are ready to create a password.
6. Now, you are ready to fill in personal information. First, you must choose one of the live accounts: standard or pro. For this example, we will select the standard account. You will then be asked for your address, a licence, passport, or ID. You will have to specify your employment status, and your tax ID.
7. When you have included all of your information, they will verify your information before you have access to your account.
Once you have signed up you must wait up to 24 hours for your application to be approved. After that process is done, you can click on the deposit button. Then you chose the deposit method which will be immediate or take from 1 to 3 days to credit into your account.
AxiTrader offers high leverage which can be a very risky choice for both new and experienced traders, so it could be a good idea to use any of their risk management options. If you have any doubts you can contact their 24/5 customer support or look at their educational section.
Remember, knowledge is power, and it will be one of your allies while trading in the fast moving market. You are the owner of your destiny, but trading should be managed responsibly. It is always a good idea to constantly educate yourself in the finance world since it can change from one second to another.
