‘Top 5’ AxiTrader Strengths
AxiTrader is considered the best MetaTrader 4 forex broker based on five core advantages:
- Low Spreads Starting From 0.0 pips
- Enhanced MetaTrader 4 platform features
- Award winning customer service
- Wide Range Of Forex Markets
- Strong leverage up to 400:1
Advantage 1 – AxiTrader Spreads
Our AxiTrader review found that the company is an ECN forex broker. This means that they don’t use a trading desk allowing individuals to trade directly with global liquidity pools. The result is faster execution speeds and low AxiTrader spreads as highlighted below.
There are two Axitrader account options which impact the fx broker costs when trading with AxiTrader.
1) MT4 Standard Account
This is designed for beginner forex traders as its not a market makers account. This means there are no commissions rather higher spreads and a lower $200 minimum deposit.
This account is designed for intermediate forex traders looking to minimise spreads when trading. While there is a standard commission of $7USD per round trip, the spreads are dramatically lower than the standard account.
Below shows the Axitrader spread comparison between the standard and pro account on the 11/12/2018 at 8:10pm.
When spreads and fees are compared to other Australian forex brokers the overall result were favourable. This included comparisons to popular currency broker including Pepperstone and IC Markets. This is because their ‘no dealing desk’ allows direct trading with liquidity pools which also enhances execution speeds.
Strength 2- Enhanced Use Of The MT4 Forex Trading Platform
AxiTrader focus solely on the MetaTrader 4 forex trading platform. This forex platform is the most popular globally based on its functionality, easy-of-use and automated trading. Based on solely MT4 Compare Forex Brokers found AxiTrader offered the best forex platform offering. It didn’t though receive maximum scores simply because competitors such as Pepperstone and IC Markets offers additional platforms.
The MT4 forex trading platform offered by Axitrader a Power Trader Program ideal for high volume fx trading . Their best forex trading platform is very clean and all the charts and other trading tools are clearly available.
The site navigation is very nice and offers the best graphical user interface which is ideal for all Forex traders. Their trading platforms extend to smartphone devices like iPhone and iPad as well. Traders can make use of the Myfxbook Autotrade which is a social based trade community. Registered traders can use Myfxbook to connect with their account and follow the trades of the experienced forex traders. Th MT4 platform also works on mobile devices (iPhone, iPad and Android devices). Specific extensions exist to allow MetaTrader 4 to operate on Macs.
Additional enhancements of MetaTrader 4 have been made through MT4 Next Generation which include:
- Sentiment Indicator – This tool helps traders view how other individuals are trading to understand live market insights and trends
- Forex news – A MT4 enhancement allowing individuals to follow other traders via social networks or import currency market news feeds
- Economic Calendar – Keep track of upcoming major market events such as rate and trade announcements which impact forex markets
- Session Map – Like the calendar above, this global map helps keep track when markets open and close impacting liquidity
- New terminal window – Get alerts, group functions templates and manage OCO to enhance forex trading on international markets
- Correlation trader – Reduce errors from money management and find new opportunities through spotting correlations on markets
- Alarm manager – Get alerts that allow you not to actively monitor the market avoiding lost opportunities
- Automated trade journal – Automate recording to improve the reporting and analysis of trading activity on fx markets
- Mini Manager – Speed up complex trades for traders who don’t focus solely on currency markets
Strength 3 – Award Winning Service & Trust
In 2014 an Investment Trends report found that AxiTrader forex broker had the strongest brand association as being ‘trustworthy’. This was backed up in 2017 when the Investment Trends Australian forex broker report gave it the highest overall client satisfaction. This could be attributed towards the CFD broker been Australian owned, with an Australian customer support team. This is based in Sydney meeting ASIC training requirements for staff.
The customer service of Axi Corp (AxiTrader) has also won awards thanks to its 24-hour day customer centre. This is only closed on the weekend when currency markets are closed. They can be contacted via e-mail, phone or live chat. The company has clients in more than 150 countries and a Monday to Friday call-centre. When the Sydney office isn’t open there is support from London and Chisinau. All forex traders that open an account are provided a dedicated account manager. Account managers assist with trades, forex training and other market information. Below shows some of the key players at AxiTrader who have one of the most experienced team worldwide.
Strength 4 – Range Of Markets
AxiTrader offers a wide range of forex markets with over 80 currency parings. This means that in addition to standard forex markets such as the AUD and USD there are also exotic pairings. These historically can have more movements due to thin liquidity. These forex markets though can have lower leverage to offset the increase volatility.
The AxiTrader review though updated on the noted that the range of markets goes past currency trading. This includes Bitcoin trading with traders able to make trade CFDs on the BTC/USD pairing at a 10:1 leverage. By trading a CFD rather than buying and selling conventional cryptocurrency traders can predict upwards or downwards movements. Other range of markets on CFD trading include commodities like Gold, Silver, Oil and Indices trading.
The only disadvantage is that AxiTrader doesn’t offer stockbroking services. This means that you will need to find a share trader provider in addition to AxiTrader as your CFDs provider. Those looking for an all-in-one trader may want to consider some of the larger brokers such as CMC or IG.
Strength 5 – Leverage
For beginner and even intermediate forex traders 400:1 should be suitable for their trading strategies. It should that globally most countries don’t allow traders to exceed 100:1 leverage levels. That said, experienced traders may require higher leverage to suit their needs. These traders may want to view our best platform forex broker table to review higher leveraged players.
AxiTrader also offer limited risk management tools. For example, they do not offer guaranteed stops. If you are new to trading you may wish to for tools to protect your investments. If you require guaranteed stops and other risk management features, have a look at our AxiTrader vs easyMarkets review.
Conclusion: AxiTrader Is Ideal If You Want An MT4 Forex Broker
For traders looking for an affordable, reliable broker there could be no brokerage firm better than AxiTrader. It is indeed a leader in Forex trading with fast paced trade executions and quality customer support. It offers trade assistance in 5 different languages namely English, French, German, Italian and Spanish. Our AxiTrader review found the fx broker is the best in Australia for MT4 traders. If your set on this forex trading platform this is the broker for you.
Other Insights Into AxiTrader
The broker is an Australian based merchant that was founded in 2008 with its headquarters located in Sydney. AxiTrader prides itself on the 24-hour support, fast trade execution, tight spreads with minimum account slippage.
Our Compare Forex Brokers’ AxiTrader review found that it has a US subsidiary called AxiTrader USA. This is the avenue US based traders need to choose to trade forex to meet American regulation. At present the broker offers two different types of trade executions. These are the ECN instant trade order and Non-Dealing desk execution.
AxiTrader Educational Support Center
The educational center offers charting that provides concise information on various commodities, equity indices and currency pairs. The FX charts offers in depth information on various charts and provides suitable interpretation of the various price fluctuations. It does this using oscillators and Fibonacci levels. AxiTrader also offers various online courses right from basic Forex introduction to in depth market analysis. The broker offers several educational videos which the registered traders can watch free of charge and get enlightened. In addition to the above, the broker also posts daily market updates. This keeps traders award of developments in the Forex industry.
AxiTrader Overall Asset Index
Our AxiTrader review above explains the wide range of financial instruments for trade like oil, silver, gold, CFD, etc. Traders can choose from 50 different types of currency pairs like AUD/USD, JPY/EUR, EUR/USD, AUD/CAD, etc. The market is open 24-hours and one can trade at any point of time suited to their needs. It offers low cost trading with best in class risk tolerance limit and different types of assets to choose from.
AxiTrader Deposits and Withdrawals
Traders can choose a major base currency for their account from the AUD, USD, JPY to Euro. Funding options include bank wire transfer, credit card, MasterCard, Liberty Reserve, MoneyBookers to Neteller can be used. For people having AUS bank accounts, the withdrawals do not attract any type of commissions. However, the broker can charge anywhere between 15 to 25 dollars for people having international bank accounts. All the deposits are processed instantly while the withdrawals can take up to 5 days to settle.
Withdrawing funds from an AxiTrader MT4 account is secure, fast and the transaction fees are low to none. The withdrawals are processed on 9:00am to 3:00pm AEST on weekdays. After 3:00pm they are processed the following business day. Ways to withdraw funds including a bank account, Neteller or Credit Card with some anti-money laundering regulations involved. There are fees that are chargeable for international transfers. When choosing to make a credit card or debit card deposit a withdrawal must be to the same card. This is assuming the withdrawal is made within 90 days.
Axitrader is a favourite among Australian forex traders. They have a simple to use forex trading platform, tight spreads (low fees) and an excellent training program. The fx broker is certified in Australia which is critical due to the safeguards in place to protect currency traders.
Forex Broker Comparison Background
Australian forex traders have different requirements from forex brokers ranging from leverage, fees to features. This AxiTrader review was based on our trading platform comparison focusing on broker features as a focal point. If you have a different priority then visit our homepage and view our other forex broker comparison charts. Our most popular forex broker comparison tables are low fee, high leverage and bonus offers. All information comes from providers websites with each provider offering free demo accounts to trial their offering and trading currency.