AxiTrader Reviews Read Customer Service Reviews
AxiTrader is one of the most trusted forex brokers of Australia. AxiTrader’s mainstay MT 4 trading software brings a very competitive technical solution to trade through the financial market to make a respectable profit for traders in every trading session. Founded in 2007, AxiTrader offers flexible leverage, which becomes a high gain option for a trader. AxiTrader also provides world-class customer service with extensive free education material like video tutorials and research tools to all their registered traders to learn about trading strategies.
- AxiTrader helps to ensure that the individual needs of all traders are met to the best of their capabilities.
- AxiTrader offers in-depth articles on many trading topics to help traders improve their trading results.
- AxiTrader’s full registration and compliance stay in Australia, and its UK subsidiary gets authorization by the Financial Conduct Authority.
- The broker provides some market analysis on its blog, but the information is not frequently updated to keep up with market events.
- In 2021 and beyond, it is expected to sustain its attractiveness as a top-ranked broker with a surging market share.
The technology infrastructure of AxiTrader is built with advanced trading tools. They provide complete support to the automated trading experience. They run backtesting on features and user capabilities and support thousands of registered third-party plugins. AxiTrader does not promote any specific platform higher than the other, which makes it quite unbiased.
Also, the quantity of news differ from language to language – for example, news in Spanish only seems to be updated once a month. However, the news section lacks charts and other visual elements. The major difference is that you can set alerts and notifications in the form of mobile push and email notifications on the desktop trading platform. To set alerts, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app’s settings), by going to the ‘Tools’ menu and then ‘Options’. You can easily see your profit-loss balance and the commissions you paid. However, all your monthly financial statements are available to download at the Client Portal.
Regulation is perhaps one of the most important questions that any trader may have about a broker. We would strongly recommend any trader that is considering using an online CFD broker to confirm their regulatory status. The Deposit/Withdrawal methods supported by the broker cover bank transfers, broker-to-broker transfers, as well as various credit and debit cards.
FREQUENTLY ASKED QUESTIONS ABOUT AXITRADER
What you need to keep an eye on are trading fees and non-trading fees. There is a 3% fee for card payments and other payment methods where deposits exceed a monthly limit of $50,000. Withdrawals are free if they are above $50 or for the full balance of your account. It won an award for being number one for Customer Service in investment Trends year 2013 during Australia FX Report.
AxiTrader – one of the best forex brokers, is offering its service for more than 70 currency pairs. This gives the broker ample coverage in the forex trading market. There are plenty of exotic and minor currencies available for trading on the platform as well.
Final Thoughts – Is AxiTrader a good broker?
The broker is licensed by top-tier regulators ensuring clients’ safety and compensation in case of insolvency. Axi provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered by negative balance protection. Similarly to the web trading platform, Axi offers MetaTrader 4 as a mobile trading platform. Axi does not have its own self-developed trading platform, it uses MetaTrader 4, a third-party platform.
- Trading with Beeks FX VPS ensures rapid trade execution, a stable environment and high accessibility.
- It is also customizable and gives you updates on the latest market development news.
- They are perhaps best known for their relatively straightforward product offering and their “no nonsense” approach to their business.
The supported methods of payment include wire transfer, MoneyBookers, Neteller, skrill, and bPay. Funds can be added to an AxiTrader account via these payment options. Selected companies also have the privilege to allow broker-to-broker transfers where a user can transfer their funds from one account to another within the AxiTrader brokerage. In most cases, the need to contact customer support arises when the AxiTrader user faces some minor issues in opening the account or managing multiple accounts.
Chinese clients can use UnionPay and Australians can transfer funds through BPAY and Global Collect. AxiTrader has now made this service available for free to its clients. Local authorities there have expressly forbidden online trading, unless otherwise specified. What is certain is that AxiTrader has become one of Australia’s most popular and trusted online trading destinations. No, as an Australian based and ASIC regulated broker, IC Markets does not need to comply with ESMA regulation and limits.
While Axi has three well-regulated subsidiaries, most international traders will deal with the unregulated unit operating from St. Vincent and the Grenadines. Since Axi has an exceptional reputation, I do not view this as an issue. Axi is a member of the Hong Kong-based Financial Commission, featuring a €20,000 compensation fund.
Downloading of the apps is available via their relevant online app store or directly via the AXITrader website. Yes, in our independent review we conducted multiple tests in regard to their online presence, security, tools, features and client support. IC impressed with fast and professional customer service, swift payment processing and other important factors. The broker also tries to allow for fast execution speeds where slippage is reduced to a minimum and Forex market access is being guaranteed at all times. However, our AxiTrader review highlights that slippage does occur quite frequently with any type of trades, which is a major drawback for most advanced and professional traders. Never ever use this broker, no matter how they sell their offers to you.
You cannot trade real assets like stocks, shares, commodities, indices and ETF’s on the Axitrader MetaTrader 4 (MT4) trading platform. MT4 is a platform available with Axitrader, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The Axitrader MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. Axitrader allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. Are you looking for a diverse range of financial instruments to trade? Look no further than AxiTrader, a leading forex broker that offers a wide range of markets including currency pairs, bullion, metals & commodities.
AxiTrader has its presence in both Australia and the UK and is regulated by the Australian Securities and Investments Commission (ASIC), as well as the Financial Conduct Authority (FCA) of the UK. Secondly, although they do offer cryptocurrency trading, https://forex-review.net/axitrader-review-scam-or-legit/ the margin levels are very disappointing. With an 80% margin on all crypto pairs, it means that you are only getting an effective leverage of about 1.25x. For those traders who want more leverage they should try the likes of IQ Option and Plus500.
The Pro Account on the other hand offers spreads from 0 pips, and a commission of $7 per roundtrip. These are some of the best VPS available, backed by data centers in London, New York and LA. AxiTrader clients who trade at least 20 lots per month, gain access to this service for free.
Overall, I can confidently rank Axi as one of the best Forex brokers operational today. Axi processes withdrawal requests within one to two hours, ensuring traders get swift access to their capital without complications. There are no internal fees, but third-party processor costs apply. I recommend traders check with their preferred one to ensure the most cost-efficient method.
Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.