Contents
Our aim is to place our company and its clients in a position as close as possible to the outcome that would have resulted had the error not occurred. You may withdraw your funds by logging in to our Client Portal page and request a withdrawal. We understand your frustration and want to discuss your experience in detail. Please note that we do not remove such limit orders during any market news. Nonsense, as I have made 100s of wire transfers to brokers in Australia.
Trades from signal providers are placed automatically within your account and can be stopped at any time. You can follow multiple signal providers and do not need to be at your terminal when trades are placed. Risk parameters are flexible and can be set according to your own preferences. You will find a good choice of trading tools that can be used for assisting with your trading. I like that they are providing signals, chart analysis, multiple account management and more.
At the point of writing this review, the only digital asset available for CFD trades is Bitcoin. Expert advisors of the trading platform recommend all their customers to research and analyze the financial market before investing any amount of money. It is further recommended to use a demo account for trading before starting a live trading session. Yet further, it is also recommended to use the amount which a trader can afford to lose. AxiTrader offers traders access to top-notch technology including unique MetaTrader 4 add-ons, features and tools such as ‘AxiTrader NexGen’.
RISK MANAGEMENT AND SECURITY FEATURES
From beginners to seasoned traders, AxiTrader has enveloped the globe by becoming an efficient ecosystem of traders, brokers, and trading platforms. Like any other platform, AxiTrader has also been thoroughly reviewed to clear out the doubts raised by traders. As for the important question about margins, Axi offers access to flexible leverage options. In addition, the broker is a popular choice among Australian traders and worldwide investors that were convinced about the Australian service provided. As for education, we found that AxiTrader offers a good choice of educational materials including a huge choice of more than 60 video tutorials. The broker also offers video tutorials on MT4 trading as well, and multiple articles and eBooks regarding Crypto trading and both forex and stock markets to keep clients up to date.
BrokerChooser does not provide investment or any other advice, for further information please read our General Terms and Conditions. The broker focuses mainly on Forex trading by offering a large selection of currency pairs but not many other financial instruments which may be a disadvantage for some traders. 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. No additional fees are charged for trading index CFDs on the Axi Trader MT4 account solution.
Strength 2- Enhanced Use Of The MT4 Forex Trading Platform
AxiTrader is overseen by strict regulatory rules that require clients to fulfill compliance checks. The FCA and ASIC require the broker to ask you for some documents before giving you an account. Through its Australian entity, AxiTrader requires axitrader review a minimum of $500 deposit for Australian residents to open a standard account. In the British unit, there is no minimum level for either the standard or the PRO. However, they provide instruments in forex, stock indices, and crypto CFDs.
These are offered by numerous other brokers and are a great way to provide ongoing support to the traders. In terms of the trading platforms and technology at AxiTrader, they make use of the MT4 software. Most traders will no doubt be aware of this platform and many will have used it at other brokers.
Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. The services provided by AxiTrader’s trading platforms and tools have been tested to gauge their efficiency. From its pricing spreads to its key features, this AxiTrader review dives deep into the core of AxiTrader & highlights what the broker puts forth for its users. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.6% of retail traders lose money when they trade CFDs with this provider.
As you will see in our AxiTrader review, the broker mainly uses MetaTrader. It offers forex and CFD market investors access to all asset classes. They include 54 currency pairs and 41 CFDs for goods, metal, indexes, and cryptocurrency.
AxiTrader will charge their own spread to this which is +1.25% for a long position and -1.25% for a short position. Given that AxiTrader will have to had to have conformed with these requirements, you can feel at ease about the safety of using their services. Moreover, unlike with an unregulated brand, you know exactly which regulator to turn to should you have any issues with AxiTrader. There are arbitration processes in place that are able to deal with these issues. You can use your preferred deposit method to make withdrawals as well. To withdraw your profits, you have to first login to the Client Portal.
For those who are uncertain, they can start with the demo account and move their way up. Surprisingly, you are not charged any fees for a deposit / withdrawal at Axi. So, irrespective https://forex-review.net/ of your funding method they will not charge a broker fee to it. As most traders may know, fees are one of the most important criteria when it comes to choosing a broker.
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.
- Traders from Malaysia, Singapore, and Canada may also open accounts at Axi, but US traders cannot trade at Axi.
- After opening an account, you can access the account through the AxiTrader login!
- All these provisions come together to ensure that new traders can learn what they need to know before signing up for an account.
- The traders that follow Muslim Sharia rules are entitled to open a Swap Free Account that is not subject to Swap Fees on FX Major, FX Minor, and Precious Metals Symbols.
It does an excellent job of providing auxiliary services, including the Autochartist Plugin and PsyQuation Premium. AxiTrader runs its in-house research to help its users with bankable insights. At the same time, it constructs educational infrastructure to train and upskill traders on new features and strategies. Since there is a high risk of losing money when trading forex, it is important to decode the complicated trading process and implement some effective trading strategies.
Is AxiTrader a market maker?
It is important to note that certain products are only available from specific live servers on the MetaTrader trading platform. Axi charges no withdrawal fees and offers several method options for withdrawal. However, if you withdraw less than $50, Axi charges a $25 administration fee . Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
The MT4 platform can be customized to a great extent, but is a bit dated and Axi’s web platform can be slow at times. We registered our account on 1 January 2022 and it was verified on 2 January 2022. Our account was approved after submitting all the required documents. We tested the entire process when opening our account, and it was fully digital. While AxiTrader does have its limits – it’s not everything every kind of investor could ever need – they remain utterly excellent at what they do. Among other things, that includes being one of the best value, most practical and all-around best options for those interested in Forex and CFDs.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. The company is growing from strength to strength, catering actively to its diversified clientele and substantial trading volumes. The revenue collected by AxiTrader makes it one of the top 10 retail brokers in the global forex and CFD market.
Portfolio and fee reports
We however do not cover every online broker or trading platform available in the market. Every attempt is made to ensure information published is correct and up to date, however no guarantee or warranty is given as to its accuracy or reliability. When clicking on an “Open Live Account” button, you will have an opportunity to review the product’s terms & conditions on the provider or brokers web site. The broker rating displayed is only one factor to take into account when considering these products. Engine Forex may receive a commission, referral fee or payment from a provider when you click on a link to their brokerage firm. Products included on this site may not suit your personal objectives, financial situation or needs.
The broker AxiTrader was launched in the year 2007 in Sydney, Australia, and has advanced to become one of Australia’s largest Forex brokers. AxiTrader is part of the AxiCorp group, , which has exhibited consistent growth since its formation and now ranks as one of the top 10 global Forex providers in the world. The short answer is yes; AxiTrader stands out as a safe and reliable broker.
Our research found that AxiTrader offers a full suite of MetaTrader 4, presented in Web, Android, iPhone, and iPad versions. Good to note, that not all MT4 platforms are created equal, as the broker may invest in a co-located server and fiber optics, in order to process more accurate trading or not. The broker provides some market analysis on its blog, but the information is not frequently updated to keep up with market events. We were advised to initiate our next withdrawal via bank transfer, which we did, and the funds arrived on the next day. The FCA also guarantees traders registered under the UK entity deposit compensation of up to £85,000 in case the broker goes bankrupt.
We waited for 1-8 minutes before being connected to the customer service team via the live chat function. Axi’s educational articles are grouped according to the relevant trading topics making it easy for traders to find information on specific topics. AxiTrader also provided video tutorials on how to navigate their platform. The broker could provide more video tutorials covering other topics. The broker’s average spreads for the popular instruments in each market was below industry averages. We contacted the broker’s customer support team to resolve the challenges we faced.
It also allows you to code your own bots or “EA” in order to automate your trading. For those who do not know, MT4 is a third-party trading program that was developed by a company called Metaquotes. This is one the most widely used external trading software currently on the market. What really put the cherry on top for us was the fact that they were quite open to traders visiting their account managers at the offices. This adds further weight to their “personal touch” argument but you will have to call prior to arriving to make sure that they manager is present.