A global currency exchange and Forex brokerage, AxiTrader is certainly one of the veterans of the online trading scene. The operation was launched back in 2007, with the goal of providing a service that its creators would want/like to use.
Whether that goal has been reached or not is unclear. What is certain is that AxiTrader has become one of Australia’s most popular and trusted online trading destinations.
That said, its reputation is not all rosy. While most of the actual clients of the broker seem to have a positive opinion of it, there are a few dissenters in the mix too. Complaints cover alleged spread manipulation, stop loss hunting and some withdrawal issues. For a broker with a 12 year history to look back upon, such mixed feedback is part and parcel of existence however.
The background of the brokerage is a very solid one. The company that originally launched the operation is an Australian one. AxiCorp Financial Services Pty Ltd is a registered Australian and New Zealand financial service provider.
Its company registration numbers are ACN 127 606 348 and NZBN 9429042567608 respectively. It is licensed in both countries. As far as Australia is concerned, the company possesses an AFSL license, the number of which is 318232.
In New Zealand, the company is licensed for the provision of financial derivative-focused services. Its FSP license number is 518 226.
Clients based in Europe trade with the UK branch of the operation. AxiTrader has two offices in addition to its Australian headquarters. One of these is in London and the other in the United Arab Emirates.
AxiTrader UK is based at 55 Baker Street, London W1U 7EU, UK. It is registered in England and Wales and its FCA registration number is 509746. The company registration number is 06378544.
In addition to the above said, AxiTrader is also licensed by the UAE’s DFSA and Austria’s FMA.
It is therefore clear that the regulatory standing of the brokerage is quite superb. Its FMA and FCA licensing means that it is MiFID compliant and as such, it can offer financial services in the whole of the EEA.
France and Belgium seem to be the only exceptions. Local authorities there have expressly forbidden online trading, unless otherwise specified.
Traders from the US are not accepted either.
From that, it is easy to deduce that the focus of the brokerage is on Australia, Europe and China. Its accepted deposit/withdrawal methods support that assertion as well.
What are some of the unique selling points of AxiTrader? Why would a trader want to register an account with the brokerage?
The focus of the broker is most definitely on providing extra value.
In addition to the “normal” MT4 versions it supports, AxiTrader also features a NexGen version of the trading platform, which is jam-packed with superb tools and features aimed at professional traders.
The brokerage seems to encourage the use of EAs – a fact that in and of itself may turn out to be the decisive factor for some traders. To properly support EA trading, it also offers a wild range of VPS services. These are third-party provided services however, and they do feature minimum trading volume requirements.
While some of these services are available for free, there are paid options as well. For a proper forex VPS service, do not hesitate to contact the broker directly.
MetaTrader VPSs usually cost $10/month. AxiTrader has now made this service available for free to its clients.
Commercial Network Services VPS is normally $35/month. 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.
For those looking for enterprise-level security and infrastructure, AxiTrader has struck up a special deal with Beaksfx VPS. The service, which normally costs $60 per month, is available to such traders with a 30% discount.
In addition to all the above, AxiTrader also offers a handful of superb trading tools, such as Autochartist, PsyQuotation and Knightsbridge Trading Academy. The latter is a service accredited by the London Stock Exchange and it features elite tutors and experts, who deliver free courses to qualifying AxiTrader clients.
AxiTrader Account Types and Trading Conditions
In this respect, the broker chose to keep things as simple as possible. There are just two account types offered: the MT4 Standard and the MT4 Pro.
There is no minimum deposit requirement on either of the two accounts.
The Standard Account features different trading conditions than the Pro one. It does not charge any commissions, but its spreads start from 1 pip.
The Pro Account on the other hand offers spreads from 0 pips, and a commission of $7 per roundtrip.
Otherwise, the perks and features of the two accounts are quite similar. They both feature maximum leverage of 1:30, and a minimum trade size of 0.01 lots.
They both cover the full range of tradable assets offered by the broker. In this regard, the focus is obviously on FX pairs, but metals and indices are covered as well, not to mention cryptocurrencies.
This new asset class can only be traded via CFDs. What this means is that traders gain exposure to crypto price-fluctuations through a financial derivative. They cannot buy actual cyptocurrencies from the broker.
Both account types come with a 30-day Demo account option, and they both provide access to a free VPS service, to qualifying traders only.
AxiTrader Trading Platforms
The bread and butter of AxiTrader’s platform selection is MT4. It is made available in a staggering array of versions, covering everything from PCs to Macs and various Android and iOS mobile devices.
The qualities of the MT4 platform hardly need to be praised. This platform is the most popular in the industry for some very solid reasons.
One click trading is part of the MT4 package and the charting options are just superb. Every one of the MT4 versions supported by the broker can be downloaded from the official site, for free.
A Multi Account Management option is also available. The true star of the platform lineup is MT4 NexGen though.
The Trading Sentiment Indicator lets users take a quick peek into how other traders trade certain assets. Coupled with the Correlation Trader, this tool streamlines efficiency and eliminates money management errors.
Analysis and proper reporting is always key to successful trading. Through NexGen’s Automated Trade Journal, this aspect of the trading activity takes on an entirely new dimension.
The Session Map literally keeps traders in the picture regarding the opening and closing times of various markets all over the world.
Through the Mini Manager, the handling of complex order types becomes a cinch.
Deposits and Withdrawals
The Deposit/Withdrawal methods supported by the broker cover bank transfers, broker-to-broker transfers, as well as various credit and debit cards.
Neteller and Skrill are also accepted. Chinese clients can use UnionPay and Australians can transfer funds through BPAY and Global Collect.
The Bottom Line
AxiTrader is a reputable and experienced brokerage, one that is well known to Australian traders and not only.
Its trading conditions are decent, its trading platforms are superb and the fact that it does not require a minimum deposit makes the whole package accessible to all comers.
Forextraders' Broker of the Month
BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners.