Broker Details | AxiTrader |
---|---|
Founded Year | 2007 |
Minimum Deposit | $0 |
Maximum Leverage | 5000:1 * |
Address | Level 13, 73 Miller Street, North Sydney, 2060, Australia |
Contact | service@axi.com, + 61448090530 |
Customer Support | Live Chat, Email, and Phone |
Regulators | ASIC, FMA, DFSA, FCA, VFSC |
Prohibited Countries | United States, Canada, North Korea, Iran, Syria, Cuba, Sudan, Belgium, Crimea region. |
Trading Platforms | MT4, Web Trader MT4, Mobile application, Axi Mobile app |
Dealing Desk | ❌ No |
ECN | ✅ Yes |
Margin Call / Stop Out: | 100%/20% |
Web Trading | ✅ Yes |
Mobile Trading | ✅ Yes |
Currencies | (70+) |
Cryptocurrencies | (30+) Bitcoin, Litecoin, Ethereum |
CFD | (135+) Gold, Silver, Stock Indexes, Oil, Other Commodities |
EAs/Robots | ✅ Yes |
News Trading | ✅ Yes |
Scalping | ✅ Yes |
Copy Trading | ✅ Yes |
Deposit Methods | Bank Wire (BankTransfer/SWIFT), AstroPay, bitwallet, Cellulant, Credit/Debit Card, Crypto, Dragonpay, MyFatoorah, Neteller, PayPal, Przelewy24, Skrill, UnionPay, Worldpay, Zotapay |
Withdrawal Methods | Bank Wire (BankTransfer/SWIFT), AstroPay, bitwallet, Cellulant, Credit/Debit Card, Crypto, Dragonpay, MyFatoorah, Neteller, Paysafe, Przelewy24, Skrill, UnionPay, Worldpay, Zotapay |
AxiTrader Insider Review: What Makes It Click for Traders Worldwide
Are you wondering if AxiTrader is the right platform for your trading journey? Let me break it down for you. In this detailed review, we’ll explore the ins and outs of AxiTrader, covering everything from account types to customer support. By the end, you’ll know whether it’s a thumbs-up or a skip!
What Is AxiTrader?
AxiTrader is a forex and CFD trading platform that’s been in the game since 2007. Headquartered in Sydney, Australia, it has carved a name for itself as a reliable and robust broker. But is its reputation enough to make it your go-to choice?
Is AxiTrader Safe to Use?
Security should be your top priority when choosing a broker, right? AxiTrader ticks the box here. It’s regulated by top-tier authorities like ASIC (Australian Securities and Investments Commission) and FCA (Financial Conduct Authority) in the UK. This means your funds are in segregated accounts and protected from broker misuse.
Pros of AxiTrader’s Security Features
- Regulated by globally recognized bodies.
- Negative balance protection ensures you don’t lose more than you deposit.
- Secure SSL encryption keeps your data safe from cyber threats.
Account Types: Which One Should You Choose?
AxiTrader offers two main account types: Standard and Pro. Let’s take a closer look.
1. Standard Account
- Who’s it for? Beginners and casual traders.
- Spreads: Zero commission with slightly higher spreads starting at 0.4 pips.
- Minimum deposit: No minimum deposit requirement (ideal for newbies).
2. Pro Account
- Who’s it for? Advanced traders who need razor-thin spreads.
- Spreads: As low as 0.0 pips with a $7 commission per round lot.
- Minimum deposit: Same as the Standard account, making it accessible.
Trading Platforms: Does AxiTrader Deliver?
AxiTrader exclusively offers the MetaTrader 4 (MT4) platform. While MT4 is legendary for its customization and advanced tools, it might feel outdated compared to newer platforms.
Key Features of MT4 on AxiTrader
- Supports Expert Advisors (EAs) for automated trading.
- Advanced charting tools with multiple timeframes.
- Mobile app compatibility for trading on the go.
But here’s the catch: If you’re looking for variety in trading platforms, AxiTrader might disappoint.
Assets Available for Trading
AxiTrader provides access to over 130 financial instruments. But let’s get real—this isn’t the most extensive offering out there.
Here’s What You Can Trade:
- Forex: Over 70 currency pairs, including majors, minors, and exotics.
- Commodities: Gold, silver, oil, and more.
- Indices: Global indices like the S&P 500 and FTSE 100.
- Cryptocurrencies: Bitcoin, Ethereum, and other popular tokens.
Spreads and Fees: Are They Competitive?
Fees are a dealbreaker for many traders, so let’s dive into AxiTrader’s pricing structure.
Spreads
- Standard Account: Spreads start at 0.4 pips.
- Pro Account: Spreads start at 0.0 pips, but with a $7 commission per round lot.
Other Fees
- No deposit or withdrawal fees: Big win here!
- Inactivity fee: None (great if you’re prone to taking trading breaks).
Verdict? While AxiTrader offers competitive spreads, the Pro account’s commission might not appeal to small-budget traders.
Leverage Options: High Risk, High Reward
AxiTrader provides leverage up to 500:1, depending on your region. For EU traders, the leverage is capped at 30:1 due to regulatory restrictions.
Should You Use High Leverage?
Leverage can amplify your gains but also magnify your losses. Unless you’re an experienced trader, it’s better to tread carefully.
Educational Resources: AxiTrader’s Knowledge Hub
Are you a newbie looking to learn the ropes? AxiTrader has your back with its solid range of educational materials.
What’s Included?
- Webinars: Live sessions hosted by trading experts.
- eBooks: Covering trading strategies, market analysis, and risk management.
- Blog: Regularly updated with market insights and trading tips.
Customer Support: Hit or Miss?
No broker is perfect, and customer support can be the Achilles’ heel of many. So, how does AxiTrader fare?
Support Channels
- Live chat: Available 24/5 (but not on weekends—bummer!).
- Email support: Responsive within 24 hours.
- Phone support: Direct hotline for urgent issues.
While the support is professional, the lack of 24/7 availability might frustrate traders in different time zones.
Bonuses and Promotions
AxiTrader is not big on flashy promotions, especially for EU and UK clients due to regulatory restrictions. However, some regions offer referral bonuses and occasional rebates.
User Experience: Is AxiTrader Beginner-Friendly?
AxiTrader’s interface is clean and straightforward. The MT4 platform might require a learning curve, but once you get the hang of it, it’s smooth sailing.
What Sets AxiTrader Apart?
So, why choose AxiTrader over the countless brokers out there? Here are its standout features:
- PsyQuation Premium: A smart AI tool that analyzes your trading habits and suggests improvements.
- Free VPS Hosting: Ideal for traders using EAs or scalping strategies.
- No Deposit Minimum: A major plus for budget-conscious traders.
The Downsides of AxiTrader
Let’s keep it real—AxiTrader isn’t perfect. Here’s what might make you think twice:
- Limited trading instruments compared to competitors.
- No MT5 or proprietary trading platform.
- Customer support isn’t available 24/7.
Who Is AxiTrader Best For?
AxiTrader is an excellent choice for:
- Beginners who want a no-fuss broker.
- Forex traders who value tight spreads and advanced tools.
- Traders who rely on automated strategies.
Conclusion: Is AxiTrader Worth It?
AxiTrader is a solid broker that gets the basics right. With strong regulation, competitive fees, and useful tools like PsyQuation, it’s a safe bet for most traders. However, if you’re after a broader range of assets or a modern trading platform, you might want to explore other options.
Low spreads saved me money; AxiTrader feels super cost-effective