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Axitrader Broker Review

FX Scouts By Jeffrey Cammack Updated: October 9, 2019
Average Score
2 / 5
Min. Deposit USD 500
Max. Leverage 30:1
Min. Spread 0.8 pips
Regulators FCA,ASIC,DFSA
Regulator Origin FCA ASIC DFSA
Broker Type Market Maker

Summary

Built by traders, for traders, AxiTrader is an ASIC and FCA regulated ECN broker for the serious trader, where traders execute their positions directly on the markets without any broker interference.

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).

Accounts at AxiTrader require a $500 minimum deposit, which is more than many other brokers, but this figure in combination with their strong MT4 setup only highlights further that they are built by traders, for traders.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Bonuses
Beginner Friendly Standard
About our review process

Trading Conditions

Minimum Deposit USD 500
Base currencies USD, EUR, GBP, AUD
Number of FX Pairs 80+
Hedging Allowed
Scalping
Swap-Free Accounts

Average Spreads

EUR / USD 1.1
GBP / USD 0.9
USD / JPY 1

Company Details

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

Deposit & Withdrawal Methods

Supported Platforms for Axitrader

Axitrader Broker Detailed Review

Is AxiTrader Safe?

AxiTrader is regulated by the FCA in the UK (license 509746) since 29/09/2010, and ASIC in Australia (license # 318232) since 21/12/2007. ASIC and the FCA are recognised as two of the most traditional and strong regulators in the world, and thus AxiTrader should be considered well-regulated.

Winning awards and recognition from the industry including Most Trusted Forex Broker (UK Forex Awards 2018) and Highest Overall Client Satisfaction (Investment Trends December 2017 Australia FX Report), AxiTrader stands loud and proud.

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 misused for managing broker operations.

Being an ECN broker, client trades are taken directly to the market without any interference from the broker which gives the trader confidence that conflict of interest does not exist.

AxiTrader For Beginners

AxiTrader is perhaps not best suited for beginners because of the limited platform choice and higher minimum deposit, but that does not mean that beginners should steer clear.

While the MT4 platform is not the most modern one, it is the industry standard with unlimited numbers of beginner and feature guides as well as video tutorials to be found online. MT4 does take setup and what is initially installed does need to be customised for successful trading.

The higher minimum deposit does also indicate that AxiTrader is looking for the investor client rather than the hobbyist, and thus a beginner broker would usually have a significantly lower initial deposit.

Any beginner who finds themselves committed to learning to trade with a traditional broker and an industry-standard trading platform would find this an excellent place to start as long as the minimum deposit can be met.

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.

Trading Conditions

Account Types

Demo Account

AxiTrader offers a demo account with a virtual balance of $50,000 that can be used within 30 days. At the same time, AxiTrader provides a dedicated account manager to every trader who opens an account with them. The demo account is an opportunity to experience the dedicated account management, and get assistance with setting up your MT4 software.

MT4 Standard Account

The MT4 Standard Account is a commission-free account where spreads start 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 $7USD per round trip commission on trades. The round trip means both the buy and sell.

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 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 would make a strong choice of brokers. 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 2/5 4/5 2/5
Minimum Deposit USD 500 USD 100 USD 250
Regulation
Broker Type Market Maker Market Maker Market Maker
Read Full Review Read Full Review
Trading Conditions 2 / 5 4 / 5 3 / 5
Trading Platforms 2 / 5 3.5 / 5 3 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
% Lose with this broker 74% 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 0.8 pips 0.7 pips 1.5 pips
Hedging
Scalping
Account Types
  • Mini
  • Standard
  • Standard,Vip,Professional
Trading Platforms MetaTrader4, WebTrader MetaTrader4, WebTrader MetaTrader4, WebTrader, Sirix
Funding Methods Bank Transfer Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal Visa, Mastercard
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Overall Rating 3 / 5 4 / 5 2 / 5
Min. Deposit USD 500 USD 100 USD 250
Regulation
Broker Type Market Maker Market Maker Market Maker
Read Full Review Read Full Review Read Full Review
Trading Conditions 2 / 5 4 / 5 3 / 5
Trading Platforms 2 / 5 3.5 / 5 3 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5
Risk Disclaimer 74% 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 0.8 pips 0.7 pips 1.5 pips
Hedging Allowed Yes Yes Yes
Scalping Allowed Yes Yes Yes
Platforms MetaTrader4, WebTrader MetaTrader4, WebTrader MetaTrader4, WebTrader, Sirix
Funding Bank Transfer Bank Transfer, Visa, Mastercard, Skrill, Neteller, Paypal Visa, Mastercard

Share your knowledge

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.