WHAT IS AXITRADER?
According to research in South Africa, AxiTrader was founded in 2007 and is based in Australia along with it having offices in London, which were opened in 2012. AxiTrader focuses predominantly on the provision of financial products for retail investors.
AxiTrader has more than 40,000 registered traders in over 100 countries and a monthly client trading volume of around $100 billion. AxiTrader makes provision for traders of all backgrounds with different levels of knowledge.
AxiTrader’s business conduct is based on being a modern Forex broker with values that are built on honesty, transparency and trust. This broker provides the best possible pricing in conjunction with the latest and best trading technology.
SAFE OR SCAM?
AxiTrader is regulated and authorized by the ASIC (Australian Securities and Investments Commission) along with the FCA in the UK, which are two of the strictest and most demanding authorization institutions.
In addition, AxiTrader is also regulated and authorized by the DFSA in the Middle East.
AxiTrader is a transparent provider and according to regulations imposed by both the FCA and the ASIC, clients’ funds are kept in segregated accounts with top-tier banks. These funds are also secured by compensation funds.
AxiTrader aims to provide traders with a trading environment which is safe, secure and innovative in providing traders with the best possible experience in comparison to that offered by other brokers.
AxiTrader’s offering consists of an array of financial instruments that can be traded using well-known and trusted trading platforms along with competitive pricing, spreads and trading conditions which sets it apart from its peers.
AXITRADER REVIEW OF PRO AND CONS
|1) Fully regulated and authorized||1) Only offers trading in Forex and CFDs|
|2) Low trading fees||2) Limited research tools|
|3) No inactivity fee||3) Withdrawals can only be made to a bank account or Neteller|
|4) No deposit or withdrawal fees|
|5) Fully digitalized account opening|
|6) Trusted and award winning broker with a substantial track record|
Depending on the region in which an account with AxiTrader is registered, traders have access to leverage levels of up to 1:400. The FCA has updated the limits to only allow traders a leverage of 1:30. This is due to the risks involved with high leverage levels.
But, should traders hold an account registered through the ASIC, they can make use of the maximum leverage of 1:400 provided. The maximum level of leverage allowed will be determined by the type of account the trader chooses and it can range from 1:50 to 1:400.
AxiTrader offers traders a choice between two account types, with the choice of opening a demo account on each which has the same features and virtual funding with which trading can be explored without the risk of losing actual funds.
There are also three options when opening an account with AxiTrader and the account can either be for an individual, a joint account or a corporate account which is owned by a legal entity.
The MT4 Standard Account features the following:
- No deposit fee
- Spreads from 0.4 pips
- Zero commission fees
- Minimum trade size of 0.01 lots
- Access to 140+ FX pairs and metals CFDs, and many more
The MT4 Pro Account has similar features to the Standard Account, but differs in the following
- Spreads start from 0.0 pips
- Commission is $7 round trip
Regardless of the account that the trader chooses, they have access to more than 140 Forex pairs and other instruments such as:
- Gold and Silver
- Metal Crosses
Trading Commodities with AxiTrader
When trading commodities, traders do not invest in a physical asset but moreover the real-time price movements of the underlying product within the open market.
There are several advantages when trading Commodities as CFDs, including:
- The potential to profit in either price direction
- Low margins starting from as little as 1%
- There are no brokerage fees on standard accounts and there is no commission charged on this type of account
- There are competitive spreads with fast execution speeds
- Trading is simplified using the MetaTrader 4 platform in conjunction with an AxiTrader account
- Leverage is flexible and allows traders to have control over their risk level and the exposure to risk
AxiTrader does not charge fees on either deposits or withdrawals and there is no minimum deposit required with either of the accounts that it offers.
Although the MT4 Standard Account does not have any commission, the MT4 Pro Account fees are built into the spreads and in addition to that, there is a $7 commission charged per round.
AxiTrader does not charge fees for inactivity on the accounts, but traders need to be aware of Swap-fees or rollover fees. These fees are charged on a long position and AxiTrader pays Swap-fees on short positions.
AxiTrader does, however, offer the option of opening an Islamic or Swap-free account which is not subjected to swap fees on Major and Minor FX pairs or Precious Metals symbols.
DEPOSIT AND WITHDRAWAL
AxiTrader has a simple way of depositing funds into a trading account by providing several payment methods. Each payment method has its own currencies that it supports.
Traders need to take note that although AxiTrader does not charge fees on deposits, they need to verify with their chosen payment provider whether there are any fees waived when making deposits.
AxiTrader makes provision for the following payment methods, each with their own supported currencies:
- Credit/Debit Card – AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD
- POLi – AUD, NZD
- Bpay – AUD
- Bank Transfers – AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
- FasaPay – IDR, USD
- Sofort – EUR
- Neteller – AUD, CAD, CHF, EUR, GBP, JPY, PLN, SGD, USD
- Skrill – AED, CAD, CHF, EUR, GBP, HKD, INR, JPY, PLN, SGD, NZD, SAR, SGD, USD, ZAR
- Giropay – EUR
- IDeal – EUR
- AliPay – CNY USD
- Bitcoin – BTC
In addition, various internet bank providers make provision for deposits made in certain currencies, such as:
- Chinese Internet Banking – CNY
- Hong Kong Internet Banking – HKD
- Peru Internet Banking – USD
Although AxiTrader offers the depositing of funds through using Credit/Debit cards, withdrawals can unfortunately not be done through using this method.
Withdrawals can be made by accessing the Secure Client Portal on the AxiTrader website and selecting the option to withdraw funds.
The withdrawal of funds can only be done to a bank account or a Neteller account. To withdraw funds to these accounts, the same name in which the AxiTrader account was registered must be used.
The trader may need to provide AxiTrader with additional information to prove that the beneficiary account to which the withdrawal is made is indeed in the trader’s name.
AxiTrader prohibits the use of third-party payments as part of their Anti-Money Laundering and Counter-Terrorism Financing Law.
With regards to withdrawals, traders also need to acknowledge the following:
- Although AxiTrader does not charge withdrawal fees, there may be fees waived by banks or Neteller and traders need to verify this with either of the providers
- Requests to withdraw funds may take between 1 – 2 business days upon receipt of the withdrawal request
- Same day receipt of funds cannot be guaranteed by AxiTrader because the processing times of withdrawals are subjected to the receiving bank’s processes
- Should the withdrawal be to an international bank, proof of identity along with proof of source of funds will be required before funds can be processed
AxiTrader makes use of one of the most popular and more widely used platforms in the trading community, which is MetaTrader 4. MetaTrader 4 caters for both beginner traders and traders who are at a more professional level.
Using MetaTrader 4 in conjunction with an AxiTrader account provides the following benefits and features:
- One-time sign in and access to the MT4 account from anywhere
- Available on mobile devices using Android and iOS, PC and Web as well as Mac
- Access to more than 150 trading products
- Spreads from 0.0 pips
- Access on any device at any given time
- Multi-account management
- Order execution at fast speeds
- Option of using third party plugins
MetaTrader 4 supports the following third party plugins:
- NexGen – available free of charge to traders who open a live account with a minimum deposit of $1000
- Sentiment indicators
- Correlation trader
- Alarm manager, and more
- Myfxbook AutoTrade
Using the MetaTrader 4 platform with an AxiTrader account also allows traders access to Expert Advisors (EAs) with the added benefit of being able to share strategies with others.
Traders can also improve their strategies by using AutoChartist which is free of use to AxiTrader clients along with use of PsyQuotation in addition to that.
HOW TO OPEN AN ACCOUNT
The AxiTrader review is simple and easy.
The process of opening an account with AxiTrader is simple and straightforward. The applicant is required to complete the online application form by filling in their details.
AxiTrader’s website is encrypted and thus all personal information provided and entered is always secure.
As soon as the application form has been completed, the applicant’s identification will need to be verified. This is done through the uploading of either a copy of the applicant’s ID card, Driver’s License or Passport.
In addition, the applicant’s proof of residence must be verified and therefore a utility bill or bank statement not older than 3 months must be uploaded along with the proof of identification.
Once the application has been submitted and required documents have been approved, the applicant will receive their login details. The account can then be funded, and trading can commence.
Should clients have any questions or queries, they can contact AxiTrader either telephonically or via email. Alternatively, an online request form can also be completed, allowing AxiTrader to contact the client.
The AxiTrader website also makes provision for a Live Chat option which can be accessed on the website for assistance which is provided 24/7.
AxiTrader offers a vast variety of educational tools starting from the demo account, which is available, to get beginner traders used to a trading environment by using virtual money and by having access to the same functionality available to the live accounts.
The website also makes provision for basics in both Forex and CFD Trading to get beginners started.
AxiTrader has a dedicated Educational Centre which features a variety of videos covering topics such as:
- Forex Trading
- Market Analysis
- Trading Psychology
- Trading Strategies
- Stocks, and several others
Upon having watched these videos, there is a counter at the top of the page, below the welcome header, which indicates the trader’s progress as they complete watching the videos provided.
The Forex Video Tutorials feature instructional videos that help the trader step-by-step in learning how to use the MT4 platform.
AxiTrader also provides seminars and webinars with which to aid beginner traders in sharpening their knowledge and skills in trading.
The AxiTrader website comes equipped with charting tools, a news feed and an economic calendar which can be accessed through the MetaTrader 4 platform to ensure that traders are up to date with market news and movements.
AxiTrader also offers a section which is dedicated to the viewing of Live Forex Spreads
AxiTrader is not only fully regulated and authorized, but since its inception in 2007, the company has also been awarded as:
- Best Spreads CIOT Expo – 2012
- Best IB & Affiliate Program Worldwide – 2013
- Best Forex Broker in Asia – 2013
- Financial institution of the Year – 2014
- Most Reliable Forex Broker – 2017, and several more
AxiTrader has been in operation for over ten years and has built up an extraordinary reputation as an online broker.
Not only does AxiTrader cater for the beginners but its offering and competitive pricing along with trading conditions caters for professional traders who trade at high volumes.
In addition to using a well-known and used trading platform, MetaTrader 4, there is also added support from third party plugins that add to the trading experience and providing traders with the best service suited to their trading needs.
With the added benefit of not having to pay a minimum deposit and zero commission, AxiTrader also ensures that the deposit/withdraw process runs smoothly. One downside is that only Bank Transfers and Neteller accounts are supported when requesting withdrawals.
Traders need to acknowledge that there is great risk involved with trading financial instruments and this level of risk is not suited for all traders.
Information and products provided by AxiTrader are for information purposes only and should not be regarded as recommendation or encouragement for decision-making regarding the purchase or sell of financial instruments.
Traders need to realize their objectives and exposure to risk, along with their willingness to taking risks. Traders may seek independent professional advice before deciding or acting should they deem it necessary, According to research in South Africa.