Home / Best Forex Brokers 2020 / Axitrader Broker Review

Axitrader Broker Review

FX Scouts By Jeffrey Cammack Updated: January 16, 2020
Overall Rating
4.43 / 5
Min. Deposit USD 5
Max. Leverage 30:1
Min. Spread 0.1 pips
Regulators FCA,ASIC,DFSA
Regulator Origin FCA ASIC DFSA
Broker Type ECN

Summary

Built by traders, for traders, AxiTrader is an ASIC and FCA regulated ECN broker for serious traders. While the trading platform choice is limited to MT4, Axitrader has received strong industry recognition for their setup including Best MT4 Broker 2018 (Compare Forex Brokers Australia) and Best MT4 Provider 2018 (UK Forex Awards).

Both accounts at AxiTrader require no minimum deposit, though a minimum of 200 USD is recommended, and spreads are tight, but educational and analytical support is limited.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Bonuses
Beginner Friendly Standard
Our Review Process

Trading Conditions

Minimum Deposit USD 5
Base currencies USD, EUR, GBP, AUD
Number of FX Pairs 80+
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD 0.44
GBP / USD 0.85
USD / JPY 0.62

Company Details

Company name AxiCorp SA Limited
Founded 2007
Website Visit Website
Type ECN
Regulators FCA,ASIC,DFSA
Office locations South Africa, Australia, UK, Singapore, Dubai, Philippines, China, New Zealand

Deposit & Withdrawal Methods

Supported Platforms for Axitrader

Axitrader Broker Detailed Review

Is AxiTrader Safe?

AxiTrader has been regulated by the FCA in the UK (license 509746) since 2010, and ASIC in Australia (license # 318232) 2007. ASIC and the FCA are recognised as two of the strongest regulators in the world, and AxiTrader should be considered well-regulated and secure.

AxiTrader has won many awards but recent standouts include Most Trusted Forex Broker (UK Forex Awards 2018) and Highest Overall Client Satisfaction (Investment Trends December 2017 Australia FX Report). 

All client funds are kept in segregated bank accounts at top tier banks around the world, this standard process for high-regulated brokers ensures that client funds are never used for broker operations.

Being an ECN broker, client trades are posted directly to the market without any interference from the broker removing any possibility of a conflict of interest.

Trading Conditions

AxiTrader offers excellent trading conditions are on both of its live accounts, the difference between the two is the commission and tighter spreads on the MT4 Pro Account. A major advantage with AxiTrader is the free AutoChartist on all accounts and a free VPS service once you hit a minimum trading volume. While neither account requires a minimum deposit, it is highly recommended that you start with at least 200 USD.

Account Types

Demo Account

AxiTrader offers a demo account with a virtual balance of 50,000 USD that can be used within 30 days. The demo account is an opportunity to experience the dedicated account management, and get assistance with setting up your MT4 software – though with many of AxiTrader’s competitors offering unlimited demo accounts, the time limit here seems like a oversight.

MT4 Standard Account

The MT4 Standard Account is a commission-free account with spreads starting at 1 pip. The service offering is the same as the MT4 Pro account below and only differs in how AxiTrader earns their administration fee from the trades.

MT4 Pro account

The AxiTrader’s MT4 Pro account attracts a 7 USD round trip commission on trades and spreads can be as low as 0 pips.

Spreads and Commissions

Spreads are charged on the MT4 accounts, while commissions are charged on the MT4 Pro account. Because AxiTrader is an ECN broker, spreads will be tighter than that of a market maker, but the offering of an ECN broker will be very traditional and without too many new hallmarks.

Deposit & Withdrawal fees

Most electronic deposit methods fund accounts immediately (credit cards) or within 15 minutes (e-wallets). Local bank transfers will be available daily, while international bank transfers will take 3-5 business days for the funds to reflect in your account. There are no deposit fees charged by AxiTrader, but some credit cards may charge your deposit as a cash advance and apply related fees, so check with your credit card provider should you have questions.

Withdrawals are processed within 1-2 days, and funds will be returned based on how the deposits are made. Please allow time for the money to show in your account as different payment methods have different transfer times. All withdrawal requests are made from within the client portal. AxiTrader does not charge a fee for making a withdrawal, but should your bank charge for incoming payments, AxiTrader will not be liable for these costs.

AxiTrader For Beginners

AxiTrader is perhaps not best suited to new traders because of the limited platform choice, but that does not mean that beginners should steer clear.

While the MT4 platform is not the most modern it is the industry standard, so you will find a huge number of tutorials and feature guides online. MT4 does require a lengthy setup will need to be customised for successful trading.

Any beginner who is committed to learning to trade with a traditional broker and an industry-standard trading platform would find this an excellent place to start. All new and existing clients have dedicated account management and access to customer support 24/5 via telephone, email and live chat. This support will help you get started and learn how to trade at any time of day that suits your schedule.

Educational Material

Probably reflecting AxiTrader’s ambivalence to beginner traders, its education section is quite thin. A number of ebooks are available to download covering various aspects of Forex trading along with a Forex glossary and brief explanation of the basic concepts. A more comprehensive trading course is also available, though you will have to register with AxiTrader in order to access this. 

Analytical Material

AxiTrader runs a market news blog which is updated on a weekly basis with a market preview; other articles, covering such topics as good and bad trading habits, are published less frequently. Other than a standard economic calendar, AxiTrader offers no analytical material to speak of.

Customer Support

AxiTrader’s customer support team is available 24/5 via telephone, email and live chat. Toll-free phone support is available in UK, Australia, China, Germany, Hong Kong, Malaysia, New Zealand, Singapore and Spain.

AxiTrader Trading Platforms

AxiTrader MetaTrader Platform

AxiTrader promotes the use of MT4 as the standard for all accounts. The Webtrader and mobile apps are all part of the MetaTrader suite, which allows for simple account management from all devices, and consistent technical support.

The MT4 platform is also available for Android, iPad, Mac, and iPhone mobile devices. MT4 offers a “Sign in once, get access everywhere” offering a seamless experience to monitor open trades, or research upcoming ones while on the go.

Evaluation Process

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the AxiTrader offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

AxiTrader Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. AxiTrader would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overview

For experienced traders who value traditional international regulation and the MT4 platform, AxiTrader is a strong choice of broker. In comparison to some of the other more beginner-friendly brokers, the tight spreads and the wide range of currency pairs AxiTrader offers, make it a favourite for traders who are comfortable in their skill, need limited support, and who are ready to make a higher minimum deposit.

Most retail CFD accounts lose money. Your capital is at risk.

Compare Brokers

Overall Rating 4.43 / 5 4.19 / 5 3.63 / 5
Minimum Deposit USD 5 USD 100 USD 250
Regulation
FCA FCA
ASIC ASIC
DFSA DFSA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
FSCA FSCA
Broker Type ECN Market Maker Market Maker
Trading Instruments Commodities, Cryptocurrencies, Forex, Indicies, Metals, WTIs Commodities, Cryptocurrencies, Forex, Indicies, Equities, ETFs Commodities, Cryptocurrencies, Forex
Forex Pairs 80+ 50+ 47
Crypto Pairs 1 18 4
Read Full Review Read Full Review
Trust Rating 5 / 5 4 / 5 3.5 / 5
Trading Conditions 4.5 / 5 5 / 5 3 / 5
Trading Platforms 4.5 / 5 4 / 5 4 / 5
Deposit & Withdrawal 4.5 / 5 4.5 / 5 3 / 5
Education & Research 4.5 / 5 3 / 5 4 / 5
Assets Available 4.5 / 5 4.5 / 5 4 / 5
Customer Service 3 / 5 4 / 5 4.5 / 5
% Lose with this broker 67.7% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider 73% of retail investor accounts lose money when trading CFDs with this provider
Leverage 30:1 30:1 30:1
Spread 0.1 pips 0.7 pips 1.5 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Mini
  • Standard
  • Standard,Vip,Professional
Swap Free Yes Yes Yes
Trading Platforms MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader MetaTrader4, WebTrader, Sirix
Funding Methods Visa, Mastercard, Maestro, Skrill, Neteller, Bank Transfer POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Bank Transfer, Neteller, Visa, Mastercard, Fasapay
Trading Commission On PRO accounts None
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Overall Rating 4.43 / 5 4.19 / 5 3.63 / 5
Min. Deposit USD 5 USD 100 USD 250
Regulation
FCA FCA
ASIC ASIC
DFSA DFSA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
FSCA FSCA
Broker Type ECN Market Maker Market Maker
Read Full Review Read Full Review Read Full Review
Trust Rating 5 / 5 4 / 5 3.5 / 5
Trading Conditions 4.5 / 5 5 / 5 3 / 5
Trading Platforms 4.5 / 5 4 / 5 4 / 5
Deposit & Withdrawal 4.5 / 5 4.5 / 5 3 / 5
Education & Research 4.5 / 5 3 / 5 4 / 5
Assets Available 4.5 / 5 4.5 / 5 4 / 5
Customer Service 3 / 5 4 / 5 4.5 / 5
Risk Disclaimer 67.7% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider 73% of retail investor accounts lose money when trading CFDs with this provider
Leverage 30:1 30:1 30:1
Spread 0.1 pips 0.7 pips 1.5 pips
Hedging Allowed Yes Yes Yes Yes Yes Yes
Scalping Allowed Yes Yes Yes Yes Yes Yes
Platforms MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader MetaTrader4, WebTrader, Sirix
Funding Visa, Mastercard, Maestro, Skrill, Neteller, Bank Transfer POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Bank Transfer, Neteller, Visa, Mastercard, Fasapay

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.