AxiTrader Forex Broker: Introduction
AxiTrader is an established forex broker brand since 2008 and is known for having an award-winning customer service. It takes pride in offering the industry’s tightest spreads and fastest executions to support its MetaTrader-only platform offering. AxiTrader is a trusted brand and is a regulated broker.
Discover the AxiTrader advantage and everything you need to know about the broker as you read this detailed forex broker review.
AxiTrader Background & Safety
Founded in Australia in 2007, AxiTrader was the vision of two traders wanting to establish an entity resembling their ideal brokerage firm. From humble beginnings, AxiTrader grew to become a global business and is one of the formidable brokerage firms in the industry. As of date, AxiTrader is servicing to more than forty thousands of traders to over a hundred countries across the globe that make up the $100 billion monthly client trading volume of the broker.
Five years after its foundation, AxiTrader expanded its operation in London and was recognized at the CIOT Expo as Best Spreads. The broker continued its success in the following year, earning several more distinctions including Best in Customer Service, and was hailed as the Most Recommended Forex Provider in Australia. In 2015, AxiTrader opened its China-based operations, then in Germany after a year. AxiTrader continued its winning legacy in the next years, being named as the Most Reliable Broker 2017 and Most Trusted Broker 2018.
On top of these recognitions, AxiTrader is a multiple-regulated broker as it operates in full compliance with some of the world’s most reputable financial licensing authorities. Particularly, AxiTrader is licensed by the Australian Securities and Investments Commission, Financial Conduct Authority (in the U.K.), and the Dubai Financial Services Authority. With these top-tier regulatory credentials, it doesn’t take a genius to say that AxiTrader lives up to its recognitions being a reliable and trusted broker.
To sum up what AxiTrader is as an online trading entity, this firm is on the upper echelon of the brokerage industry as it belongs to the top 10 global forex providers all over the world.
AxiTrader Features and Fees
Market Offerings
AxiTrader gives traders access to the following markets:
- Forex (140 currency pairs available)
- Indices
- Metals (Gold and Silver)
- Commodities
- Oil
- Cryptocurrencies
Account Types
AxiTrader showcases an in-depth account offering as it provides traders with a Demo account, live account, and a compare trading account. Each of these account classifications serves its specific purposes. The live accounts feature two account types: the Standard and the Pro. Specifications of each account type are as follows:
Standard – fret not, as it asks zero minimum initial deposit requirements from clients. The spreads under this account type start from 0.4 pips with no commission fees. The minimum trade size is 0.01 lots and the leverage can be up to 500:1.
Pro – this account type is also a free setup cost account as there is no minimum initial deposit is required. The spreads start from 0.0 pips with a $7 round trip commission. The minimum trade size is also set at 0.0 lots while the maximum leverage goes up to 500:1 as well.
Moreover, these account offerings are complemented with free VPS service, Autochartist functionality, myfxbook Autotrade, psyQuation, and psyQuation premium. They are also Expert Advisors compatible.
Funding Methods
AxiTrader also employs flexible funding as it features an array of funding options to its clients. These options include credit card (Visa, Mastercard, JCB), debit card (Mastercard, Visa), Neteller, Skrill, Bank Transfer, BPAY, China Union Pay, WeChat, and Bank Wire.
Bank fees apply for deposit and withdrawal transactions. For credit card and Neteller, AxiTrader does not charge any fees for the first $50,000 deposit per month.
Client Money Insurance
AxiTrader’s salient trading features include Client Money Insurance. This means that every individual retail trader of the broker is insured up to $1,000,000. What makes this income protection more special is that it costs no additional fees to traders.
AxiTrader Trading Platforms and Tools
AxiTrader is sporting the MetaTrader platform. The MetaTrader can be customized, reports fees clearly, has order confirmation notifications, and is available in many languages.
What needs to be improved to its MT4 offering is the basic interface and design as it lacks depth and vigor. More so, AxiTrader’s MetaTrader platform features the basic trading tools including the economic calendar, market news, and charting tools.
The mobile MT4 platform of AxiTrader is a good option, though. It is available on both Android and iOS devices. When downloaded, the platform will require you to access a certain AxiTrader server. Sadly, alerts and notifications in the mobile platform are not part of the available features and functions.
Being a premier broker, AxiTrader should develop its own trading platform. Add to the wish is an upgrade in its research and education facility.
Bottom Line
A longstanding broker, AxiTrader stood the test of time and achieved tremendous success in the brokerage industry. Despite its premier status, there are still features that remain to be desired from the broker to offer to its clients.
These include another solid trading platform offering (the broker’s proprietary) and an enhanced education and research facility and infrastructure.
