AxiTrader holds both an Australian Financial Services License and a New Zealand Financial Services Licence. They’re regulated by the Australian Securities and Investments Commission (ASIC) within Australia; in the United Kingdom, they’re regulated by the Financial Conduct Authority.
In Australia, all customer’s funds are banked and held on trust, and dealt with in accordance to the Australian Corporations Act 2001, as well as the regulations made thereunder. AxiTrader is required to hold a minimum of $1 million in operating capital, like all other ASIC regulated brokers.
AxiTrader offers flexible leverage options to suit their customer’s appetite for risk. Traders can choose as much or as little risk as they prefer with leverage to a maximum of 400:1.
Customers are required to have an account balance over and above the minimum margin requirements for their open positions. However, they can take a position of much higher value than that balance using the leverage.
Trading Pair Spread
They offer low spreads from as little as 0.0 pips with the following currency pairs:
AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD.
Trading Commission Fees
Commission is charged on transactions executed in the Pro Account; a commission fee of $7 round trip (USD) on trades is charged. While there are no commission fees charged on transactions executed in the Standard Account.
AxiTrader doesn’t have a minimum deposit requirement for trading with them; it’s free to open a demo account for 30 days and if you upgrade to a permanent live account you aren’t required to pay a deposit.
AxiTrader gives you the option to open a demo account, where you get $50,000 of virtual cash, as well as a live account. This gives you the option to start trading in a demo environment, and then move onto live trades once you build your knowledge and skills.
AxiTrader offers two types of live accounts which are as follows:
No set up cost, zero commission and a no minimum deposit make the Standard Account enticing to many traders.
It also includes the following:
- Spreads from 1.0 pips
- A minimum trade size of 0.01 lots
- Trading in 80+ FX pairs, Metals, CFDs
- 5-digit pricing
- It’s EA optimised for automated trading
- Up to 400:1 margin
- Free VPS and Autochartist
- Available currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
- Demo period of 30 days
The Pro Account is fairly similar to the Standard Account however it includes a commission fee of $7 round trip (USD) on trades, and spreads start from 0.0 pips, rather than 1.0 pips. Otherwise it includes all the other features that the Standard Account does.
Customer service at AxiTrader is important; they offer 24/5 customer and platform support; they also have dedicated Account Managers that provide personalized service to their customers. They’ve won service excellence awards, with the most recent one being from compareforexbrokers.com.au as the 2018 Best MT4 Provider Award recipient.
Tools for trading
Customers of AxiTrader can access the leading industry trading platform, MetaTrader4, as well as a variety of other trading and analysis tools to make trading that much easier, as well as to maximize trades.
With 80 currency pairs, automated trading (EAs), free setup and download, and being available for PC, Web, Mac and Mobile, trading has never been easier or more accessible.
- MT4 for PC: With a full suite of features combined with high performance, online trading on your desktop has never been easier.
- MT4 for Mac: Customized specifically for usability on the Mac operating system.
- MT4 for Mobile: Trade anytime and anywhere with the customised mobile trading app.
MT4 Next Generation
Advanced management tools make MT4 NexGen an app that all traders want to get their hands on.
- Sentiment trading: See how others are trading and gain insights into live market trends.
- Correlation trader: Identify new opportunities and cut down errors.
- Alarm manager: Frees you from your screen and changes how you trade.
- Economic Calendar: Add alerts to big events so you’re ready to stay on top of market activity.
- Automated trade journal: Better analysis and reporting through automatic recording of trade activity.
- Session Map: An interactive map that shows the international market opening and closing times.
- Mini Manager: Quickly and easily enter and exit trades and apply complex order types.
MT4 Trading Signals
MT4 Trading Signals allows users to access thousands of ready-made trading strategies, as well as automatically place trades with simple execution.
MTA Multi-Account Manager
MT4 Multi-Account Manager allows single traders to execute block trades on all accounts operating under one main account. Users can place large orders in bulk, with speed, to an unlimited number of accounts.
Other Trading Tools
Analysis is important when it comes to trading, so AxiTrader offers a variety of analysis tools for its customers, including:
Autochartist constantly scans markets and automatically recognizes trade set-ups based on support and resistance levels; traders are notified once an opportunity has been identified.
MT4 VPS Hosting
A Virtual Private Server Hosting service is available for AxiTrader customers; an external server is used to ensure the platform keeps running 24 hours a day, preventing downtime.
There are several analysis and tracking tools available including:
- DupliTrade: An advanced auto-execution mirror system that allows customers to automate their Forex, Indices and Commodities trading, by duplicating the trades of strategy providers whose accounts are displayed in DupliTrade’s site.
- Myfxbook: A social and copy trading community app that can be connected to trading accounts; users can follow other traders or allow other traders to follow them.
- Tradency: The world’s most-used algorithm platform allows users to trade smarter; Tradency’s Mirror Trader lets you follow some of the world’s top traders in real time and copy their trades.
- ZuluTrade: This leading online and mobile Social Trading platform enables users to locate successful traders and follow their trades, which are translated into real trades in their own broker accounts.
Forex Economic Calendar
AxiTrader’s Forex Economic Calendar allows you to keep track of major events, news releases and market indicators, so you can stay on top of the market. Using filters, you can quickly and easily search by date, currency pair or likely market impact to navigate news that’s most pertinent to you.
A more advanced and higher performing platform than the standard PsyQuation. It uses sophisticated algorithms to analyse the user’s behaviour and identify where they make trading mistakes; research suggests that following Alert Suggestions significantly improves trading performance. Intraday performance charting provides users with up to date performance impact analysis.
Education and Informational Resources
AxiTrader provides a variety of online educational tools to assist their customers in maximising trades and trading more efficiently. These include:
- Video Tutorials: These focus on how to use MT4 to trade, as well as how to analyse the markets.
- Technical Analysis: Current market analysis and commentary is provided to customers.
- Online Education: Learn at your own pace with AxiTrader’s Education Centre. From trading basics to trading psychology, the Education Centre gives you all the information you need to start trading.
- Free eBooks: A series of eBooks gives traders insight on the fundamentals of Forex, expert trading tips, discovering different trading strategies and more.
Pros of Trading with AxiTrader
- No minimum deposit.
- ASIC regulated and industry compliant.
- High leverage levels are available for those with an appetite for greater risk.
- Easily deposit and withdraw funds using a variety of methods including credit/debit card, EFT, BPay, Global Collect and Neteller.
- A strong focus on technology with MT4 helps customers trade smarter.
- They’re Australian based so they understand what their local customers need.
- Keep your trading costs low with competitive spreads across a wide range of currencies, commodities and indices.
Cons of Trading with AxiTrader
- No choice of trading platforms, with no in-house option available.
- Guaranteed stop losses aren’t offered.
- Commission is charged on transactions executed in the Pro Account.
AxiTrader has a strong focus on technology with MT4 providing a range of add-ons for customers. Their market analysis tools offer traders real time data so they can trade quicker and smarter. Coming from a place of being traders themselves has allowed them to tailor their offering according to what trader’s need. They do charge fees and don’t offer guaranteed stop losses, so you need to determine if they are the best trader for you.