AxiTrader Review

AxiTrader Review
AxiTrader Review
LeverageUp to 1:400
Minimum Deposit$200
Minimum Lot Size0.01 Lots (Micro)
Broker TypeNDD
Deposit methodsCredit Cards; Bank Wire; Moneybookers
Spreads/CommissionCommissions Only ($3.5 or $7 Round trip) for 1 lot
Trading Instruments55 Fx Instruments, Gold/Silver/Crude Oil, Indices
Trading PlatformMT4
RegulationASIC Australia
Restricted CountriesCôte d’Ivoire, Iran, Iraq, Japan, Lebanon, Libya, Nigeria, Somalia, Sudan, Syria, USA, Zimbabwe

AxiTrader is the trading name of AxiCorp Financial services Pty Ltd, which is based out of Australia and is regulated by the ASIC. Operating in a Non-Dealing-Desk environment, AxiTrader offers a transparent trading environment while adhering to the strict ASIC regulatory framework. Therefore, AxiTrader charges a commission of $3.5 or $7 round trip for a standard lot.

Although the broker is based in Australia, customer support functions 24/5 and thus, opening account to verifying documents to processing withdrawals are quick and easy. AxiTrader’s charts are based on GMT+3 timeframe. AxiTrader offers a wide choice of forex trading instruments that also includes a good choice of exotics, CFD’s on Indices and Gold and Silver CFD’s.

AxiTrader does not accept clients from a the US, Japan, Nigeria, Zimbabwe, Libya, Lebanon, Somalia, Sudan, Syria, Iran and Iraq.

AxiTrader Account Types

AxiTrader brokerage offers two types of trading accounts for retail traders with different trading conditions as seen from the table below.

Account Types Standard Pro ‘ECN Style’
Spreads 0.6 Pips 0.1 Pips
Min. Lots 0.01 0.1
Min. Deposit $200 $1000
Commissions No $7 round trip
Open Account Open Account

AxiTrader Trading Conditions

The minimum lot size starts with micro lot or 0.01 with a max leverage of up to 1:400 and a minimum deposit amount from $200. Traders can fund their accounts using either Moneybookers & Credit Cards or bank WIRE transfers. Accounts can be opened in AUD, USD, GBP, CAD, SGD, CHF, HKD, JPY, EUR, NZD, IDR, ZAR. There are no trading restrictions at AxiTrader and therefore, all EA’s, scalping and hedging are available for the traders.

While there are no restrictions on the Pro account for setting stop and limits (stop losses and take profits), for the Standard account, stops and target levels must be placed 2 pips above the prevailing market price. Traders can choose from over 55 Forex pairs including Indices, Gold, Silver and Crude Oil CFD’s. The most interesting aspect of AxiTrader is their wide choice of exotic currencies which includes NOKJPY, TRYJPY, ZARJPY to name a few.

AxiTrader pays interest on the unused balance based on the RBA’s interest rate of ~2%. This scheme is available only for accounts with a base currency of AUD.

AxiTrader makes use of the standard MT4 trading platform which is available both as a desktop application as well as smartphone access. Besides MT4, traders can also make use of AutoTrading with MyFxbook and Signal Trader, both of which offer copy trading that can be integrated into the AxiTrader trading account.

Traders at AxiTrader can available their free VPS hosting services. AxiTrader credits an amount of $35.12 every month for traders who make use of the VPS service with a requirement of trading 100 lots during a calendar month (or 20 days). For traders who use BeeksFx VPS services, AxiTrader offers upto 30% discount on select VPS hosting plans for MT4.

AxiTrader Review – Conclusion

Overall, AxiTrader comes across as a well regulated forex broker with a strong backing by AxiCorp Financial services. Despite being based in Australia, AxiTrader works round the clock so customers living outside of Australia would not face any delays while contacting customer support. Operating a Non-Dealing-Desk environment, traders can trade in a transparent environment. The commissions charged by AxiTrader are quite competitive. Traders who are looking for a serious broker with good customer support and competitive spreads will find AxiTrader a good brokerage to trade with.

Register Standard AccountRegister Pro Account

Published by Editorial Team
ForexPromos Editorial Team is comprised of a selection of hand picked editors that bring you the latest breaking news from the financial markets. We also provide forex educative articles as well as comprehensive fx broker reviews.

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