Axitrader Australia Forex Broker Comparison

AxiTrader is an award winning Australia forex broker often compared to brokers including Pepperstone and IC Markets.

View the Axitrader review below including the forex broker’s key strengths and weaknesses below.

AxiTrader Review

AxiTrader is a leading Australian ECN forex broker founded in Sydney Australia. Founded in 2007, they are regulated in Australia and offer the MT4 forex trading platform with features such as AutoChartist. The foreign exchange broker awards include the most trusted and recommended.

The five key features of the Australian forex broker include:

  1. The full MT4 suite including NextGen
  2. ECN trading with low spreads from 0.1 Pips
  3. Advanced features including Autochartist
  4. A dedicated account manager and 24 hour support
  5. Reasonably strong leverage of 400:1

Pepperstone Website


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AxiTrader Offers The Most Popular MT4 Forex Trading Platform

MetaTrader 4 is the most popular forex trading platform and is the only platform offered by the forex broker. As explains below, AxiTrader offers enhanced features with the platform giving it a edge while other forex brokers offer other trading platforms such as cTrader.

Axitrader MT4 Nexgen Features 1) Sentiment Indicator

MetaTrader AxiTrader Nexgen is a tool designed to provide deeper insights into foreign exchange markets. Information is displayed not only about current trading but also historic as well as short and long sentiment. This allows a trader to see how many piers are long and how many are short for a currency pairing.

2) Correlation trader

This feature provides the ability to spot new opportunities when they arise and reduce money management errors. It allows a trader to see if currency pairs are correlated in conjunction with Correlation Matrix.

3) Alarm manager

This manager allows traders to get event notifications within their accounts and then make automatic actions. This actions can even be forwarded to other followers through SMS, e-mail or even Twitter.

4) Automatic Trader Journal

This journal allows a trader to see past trades and chart them with stats including total return, trade wins percentage and trade length. This allows a trader to understand what is working to help improve future strategies and tactic.

5) Connect Calendar

This provides news through an RSS which can be filtered (eg by keyword) or by time period. A calendar also outlines events and alerts a trader as to when they are arising and the currency pairings they impact. This again had filters to ensure that only the news and alerts that are relevant are passed along.

Pepperstone Website

The Four Core Offering of MetaTrader 4

  1. MT4 for PCAxiTrader Forex Trading Platform
  2. MT4 for Mac
  3. MT4 for iPhone
  4. MT4 for Android

AxiTrader Spread Comparison

AxiTrader was reviewed as having one of the lowest spreads based on their ECN forex broker platform. This allows forex trading direct to the market without dealer intervention minimising spreads.

This AxiTrader spread review was based on their MT4 Pro account which charges $7 round trip (USD) commission on trades allowing for market based (not forex broker based spreads). MT4 standard has no spreads but larger spreads and is tailored more to those new to forex trading.

AxiTrader MT4 Forex Trading Platform Accounts

Below shows some example average spreads in 2017 based on their standard account and pro account. The spreads are considerable lower in the pro account and even taking into considering commissions, fees are often lower.

Example AxiTrader 2017 Spreads

Additional Positive Price Improvement To Further Reduce Spreads

AxiTrader has price improvement technology is built-in to MetaTrader 4. This ensure their forex traders receive the best possible price in the market. This is especially useful in turbulent markets when price movements change rapidly. The ECN  style liquidity also ensures forex trading with depth. This is due to Axitrader liquidity providers including financial institutions, banks and hedge funds.

AxiTrader Review

Features Of AxiTrader

  1. Axitrader Autochartist
  2. Demo Trading Account
  3. Axitrader Trader Sentiment
  4. Axitrader VPS

MetaTrader 4 Autochartist

AxiTrader AutochartistAxitrader offers the Autochartist MetaTrader 4 plugin for free to active forex traders. This plugin scans currency markets to find opportunities from a single chart.

The plugin automatically maps volatility to outline realistic exit levels to match market conditions. E-mail subscriptions can also provide details of the market for the next one to two days.

The plugin also providers six months of performance data. There is also a minimum probability function which based on statistics finds the most relevant opportunities on currency markets.

Demo Trading Accounts

AxiTrader Demo AccountAxiTrader offers a 100% free demo account. The duration of the demo trading account is 30 days offering:

  • Virtual funds of $50,000 to practice forex trading in a risk-free environment
  • MT4 real-time access including spreads to simulate forex trading
  • Market prices to test forex strategies including automated programs

The main features that demo account holders don’t have is access to client support and a dedicated account manager.

AxiTrader Trader Sentiment

AxiTrader Sentiment TradingThis feature displays long and short information from current and historical traders. This includes the number of forex traders who had buy, sell or open positions. The tools helps current traders understand the number of traders who are short and long within currency markets.

Data for the AxiTrader trader sentiment come from real currency accounts. They are published on the fx blue website periodically. Any popular currency trading can be viewed. An example is AUD/USD which could be 62% short and 38% long.

AxiTrader VPN

To minimise disruptions through connectivity or technology issues a Forex VPN service can be adopted. Automated trades (Expert Advisors) especially can benefit from a VPN. AxiTrader VPN rebates exist across:

  1. AxiTrader VPNFOREX VPS has a $34.99 rebate for traders who exceed 20 lots in a calendar month. The account need to be a basic VPS edition.
  2. METATRADER VPS by the owners of MT4 has an offer for AxiTrader customers with a subscription costing $10 USD per month.
  3. COMMERCIAL NETWORK SERVICE  has a $35 credit for the monthly fee as long as the trader exceeds 20 lots in the calendar month.
  4. BEEKSFX VPS has an offer of an additional 256MB of memory and 30% discount for the first month. To receive this put in the voucher code AXIOFFER.

Pepperstone Website

 

Leverage Levels

The Maximum AxiTrader hedging (leverage) for a MetaTrader 4 account is 400:1. A standard account is setup with 100:1 and a special request is needed to move to the highest level. This 400:1 level is high relative to other Australian forex brokers but lower than some other competitors.

A common question traders ask is whether “Pepperstone or AxiTrader” are better suited for their needs. It’s recommended to review our forex broker comparison table for a full comparison but leverage is normally sighted as a key difference. When comparing Pepperstone or AxiTrader leverage the levels are 500:1 vs 400:1 respectively. This is significant for high risk traders or those using automation know for MetaTrader 4 as expert advisors.

Understanding The Risks Of Leverage

 

It’s worth noting that these 400:1 and 500:1 leverage levels are the maximum allowed by the Australian forex brokers and not the default levels. Trading at these levels carries significant risks as they amplify the exposure to the market. This is required as historically most currency movements are small so to make trading worthwhile leverage is required. For example, a 0.1% movement in a currency pairing with a leverage of 100:1 will lead to a profit or loss of 10% (before trading costs).

Our Australia AxiTrader review takes into account risks and while their MT4 margin call software works to exit traders before they reach negative balance. This AxiTrader margin call facility doesn’t guarantee that a negative balance won’t occur. Losses therefore can exceed the deposit levels of a forex trading account. If you have a low risk tolerance you may wish to consider an Australian forex broker offering features such a guaranteed stops or negative balance protection.

AxiTrader Customer Service Levels

Our AxiTrader review gave full marks to the Australian forex broker for their customer service based on their:

  • Dedicated account manager program
  • 24 hour support during weekdays
  • A local call centre in Sydney, Australia
  • Multi-Lingual support from other offices

Dedicated Account Manager Program

AxiTrader pairs up forex traders with an account manager from the time they open a live MT4 account. Some other Australian forex brokers offer dedicated account manager for some select brokers (and only on request) whereas AxiTrader offers this for all traders. This can be helpful for traders new to currency trading or those who require support for sophisticated strategies. Account manager offer MT4 support and can assist with automated forex trading (Expert Advisory).

Support From Real Australians

A real bonus found in our Australia Axitrader review was the local support offers. The forex broker has their head office in Sydney allowing for a local call centre that understands Australia trader needs. There are also offices in Chisinau and London ensuring support is also available all day and night. These call centres also are bilingual for those who prefer languages outside of English.

AxiTrader Customer Service

AxiTrader Frequently Asked Questions

There are 10 ways to add funds to an AxiTrader account:

  1. Paypal
  2. MasterCard Instant
  3. Credit Card (MasterCard, Visa, JCB)
  4. Debit Card (MasterCard and Visa)
  5. Neteller
  6. Skrill
  7. Bank Transfers & Bank Wire
  8. bPay
  9. China Union Pay
  10. WeChat

Forex traders can also transfer their funds from another forex broker by filling out a form after opening an account.

AxiTrader now covers the main fees charged by funding methods from PayPal to credit cards.

The only fees a trader will occur is non-transactional fee such as a credit card provider viewing the transfer as a cash advance or an international bank transfer.

A unique feature in this Australia AxiTrader is that they don’t have a minimum deposit requirement. This means any amount can be added to an account through the ten deposit methods available.

Using MetaTrader 4 a forex trader can submit a withdrawal request or the trader can contact their AxiTrader account manager.

These withdrawals are processed each weekday between 9:00am and 3:00pm AEST. Processing times of the payment solutions vary for example, international transfers can take up to five days. Payments will in most cases go back to the funding source.

AxiTrader customer support opens at 7:00am on Monday and closes at 7:00am on Saturday. These times are Australian Easter Standard Time (Sydney) applicable and can very by one hour depending on daylight savings.

The Australia toll free number is 1300 888 936 (Australia) while international traders can call +61 2 9965 5830. There are also live chat facilities.

Yes. AxiTrader exclusively offers MetaTrader and no other forex trading platforms such as L2, cTrader etc.

Yes. MetaTrader 4 for Mac (MT4 for Mac) is available in both demo or live account form. There are no plugin-ins or add-ons required with a complete Ma based solution available. Features such as EAs (Expert Advisors), charting and custom indicators are all available with this AxiTrader MT4 for Mac version.

Traders with AxiTrader can use micro lot trading (0.01 volume) on all standard accounts. Pro accounts can trade mini lots (0.1 volume) on over 60 FX pairings. View the AxiTrader product schedule to learn all deal sizes across currency pairs and commodities.

AxiTrader parent company is AxiCorp Financial Services. The company is majority Australian owned.

AxiTrader is regulated by ASIC in Australia and the Financial Conduct Authority in the UK.

 

Additional Australia AxiTrader Review Information

This Australia AxiTrader review was completed on the 10/12/2017. It was based on information that came from the AxiTrader website and credible third party sites. The information provided in the AxiTrader review is to assist in the decision of what Australian forex broker is suitable for your currency trading needs. The forex broker comparison is not designed to provide forex trading advice and it’s recommended that traders understand the risks associated with forex trading prior to making trades.

A list of all forex brokers can be viewed on the homepage with tables designed for different types of brokers from low fee, high leverage to feature based traders.

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