AxiTrader is one of the Forex broker’s early players and a favourite among Forex traders. The broker offers a wide range of currency pairs and trading accounts including standard accounts, the MT4 platform and a very realistic demo account. AxiTrader’s MT4 account boasts a low minimum deposit competitive spreads and 24 hour customer service.
Key Advantages Of AxiTrader
1) Low 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 account is more for beginner forex traders who want certainty of their trading costs.
There are no commissions and the minimum deposit is lower at $200.
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 31/07/2017 at 8:20pm.
When spreads and fees are compared to other Australian forex brokers the overall result was quite strong with just a few brokers stronger in this area. In the case of Pepperstone this was due to their ‘no dealing desk’ which offers cost efficiency while Easy Forex offers fixed spreads which provides peace of mind in volatile forex markets.
2) The Use Of The Best Forex Trading Platform
MetaTrader 4 is considered the best forex trading platform based on popularity. The software package is by some margin the most used worldwide. While this is a key strength that we noted in this AxiTrader review, we did note that other brokers such as Pepperstone and IC Markets also offer additional platforms such as cTrader which may suit some traders.
The MT4 forex trading platform offered by Axitrader a Power Trader Program under which traders can carry out investments with large volumes. 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 that allows the registered traders to connect with their account and follow the trade of the experienced traders in Forex. Th MT4 platform also works on mobile devices (iPhone, iPad and Android devices) and there is also software specifically made for macs.
3) Award Winning Service & Trust
In 2014 an Investment Trends report found that AxiTrader forex broker had the strongest brand association as being ‘trustworthy’. Key reasons that may have contributed towards this position is that fact the firm in Australian owned, offers strong customer service and has operated out of Sydney for over a decade.
The customer service of Axi Corp (AxiTrader) has also won awards thanks to its 24 hour day customer centre during business days. The company has clients in more than 150 countries which is why the call-centre is always available from Monday to Friday operating out of Sydney, London and Chisinau. All forex traders that open an account are provided a dedicated account manager to help 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.
AxiTrader Withdrawal Funds
Withdrawing funds from an AxiTrader MT4 account is secure, fast and the transaction fees from more sources are covered by the forex broker. 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.
It’s worth noting that if you made a credit card or debit card deposit and choose to make an AxiTrader withdrawal within 90 days it will be proceed through the same card.
What May Be An Issue Of Trading With AxiTrader?
The biggest issue some high risk traders may have with AxiTrader is the maximum leverage available is 400:1. This is only surpassed by a handful of traders including Pepperstone, IC Markets, ThinkForex & CMC Markets as shown on the graph below.
For beginner and even intermediate forex traders 400:1 should be suitable for their trading strategies and worldwide is considered very higher. 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 wish for guaranteed stops, guaranteed account balances and other risk management features, have a look at our AxiTrader vs easyMarkets review.
AxiTrader Review: General Overview
The broker is an Australian based merchant that was founded in 2008 with its headquarters located in Sydney. AxiTrader forex broker prides itself on being a very high rated brokerage firm and offers 24 hour trade 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, through which it allows US based traders to conduct business with them. At present the broker offers two (2) different types of trade executions namely ECN instant trade order and Non Dealing desk execution.
AxiTrader Educational Support Center
The educational center of the broker offers a charting feature 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 in the market using oscillators and Fibonacci levels. AxiTrader also offer various online courses right from basic Forex introduction to in depth market analysis and how to sharpen one’s trade strategies. 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 and helps its customers to make them abreast of the latest happenings in the Forex industry.
AxiTrader Overall Asset Index
The broker offers a wide range of financial instruments for trade like oil, silver, gold, CFD, etc. As a trader one can take advantage of investing in more than 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. In our AxiTrader review we found that broker keeps on adding numerous financial instruments to its asset index which highlights that AxiTrader is very committed to offering the best possible trading experience to its customers.
AxiTrader Deposits and Withdrawals
One can deposit money in their trading account in all the major currencies like USD, JPY, AUD, EUR, etc while using payment services like bank wire transfer, credit card, MasterCard, Liberty Reserve, MoneyBookers, Neteller, etc. 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.
Axitrader is a favourite among Australian forex traders. They have a simple to use forex trading platform, tight spreads (low fees), an excellent training program and an easy to use interface to join, make your first deposit and start training. The fx broker is certified in Australia which is critical for not just beginner forex traders but any Australian currency trader with safeguards in place to protect investors.
Final Verdict: One Of The Best Forex Trading Platforms
For people looking for a reliable broker that is affordable and offers the best payout, then 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. All in all our AxiTrader review found it to be a top notch fx broker that has all its bases covered in a pretty organised manner. One should definitely open a trade account with AxiTrader taking advantage of their best forex trading platform.
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.