AxiTrader Review 2020

Axitrader is one of the famous and trusty firms in the world by giving various kinds of financial services. Offering competitive spread and many granted administrations this broker has gotten an effective intermediary. This Axitrader review contains each sort of insights regarding their fees, products, payment sources, platforms, and their background.

axitrader review
4.4/5

67.7% of retail CFD accounts lose money

Short Summary

Minimum Deposit

0 $

Assets

CFD, Cryptos, and Forex

Demo Account

Yes

Islamic Accounts

Yes

Caution: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.7% of retail investor accounts lose money when trading CFDs with this broker. Your capital is always at risk.

Have a sharp look at the bright side of working with this broker as well as the negative side.

Pros
  • No inactivity fee
  • Highly regulated
  • MT4 NextGen integration
  • Easy account opening
Cons
  • Limited product category
  • Research is just average
  • Only MT4 available
  • --

Introduction

67.7% of retail CFD accounts lose money

Axitrader is working for a long time. It has many famous sibling brands AxiPrime & AxiSelect that also provide financial services. This company is working in almost 100 countries.

Year Founded

This is an Australian based company founded in 2007. However, due to its performance, it expanded its circle.

  • In 2012, it entered the UK financial market.
  • The operational year of this company in China is 2015.
  • In 2016, this company extended its circle and operations to the Middle East countries, Europe and South America.

Owner and Team

  • The parent company of this firm is AxiCorp. The owner of this company is Goran Drapac.
  • The Director and C.E.O of this company is Rajesh Yohannan.

Headquarters

This company is working in almost 100 countries as it is mentioned above. They have a main head office in Sydney, Australia as it is the place of origin of this company. The other head-offices are located in the following countries.

  • China
  • London
  • Shanghai
  • Jeddah
  • Kingstown, USA

Choosing clients

Axitrader chooses its clients from the following countries. While choosing clients it has also a few exceptions. Let us see which nations are free to work with them.

Acceptable Clients

Axitrader accepts clients from Middle East Countries, Europe, and Australia. Clients from Pakistan, India, Bangladesh, China, Japan, Thailand, Malaysia, Mexico, Russia, and Qatar are also acceptable.

Not Acceptable

Clients from the US, Canada, Iran, Iraq, Kyrgyzstan, Colombia, and Nigeria are not acceptable.

Regulation

67.7% of retail CFD accounts lose money

Axitrader review of its regulation is good. There are some facts about its regulation and registrations.

  • It is regulated by 2 top-tier financial authorities.
  • This company is not listed on the stock exchange.
  • It does have any banking license.

The following are the regulatory authorities of this company.

  • The Financial Conduct Authority, UK under license FRN: 509746 regulates it.
  • Australian Securities & Investments Commission under license AFSL #318232 regulates it.
  • Dubai Financial Services Authority (DFSA) regulates it in operations for Dubai.

Safety

Working for a long time and regulation by top-tier contribute to its security. However, the financial information is not public.

  • Clients funds are kept in segregated accounts to deal with market volatility.
  • Data is secured by encryption.
  • There is also a negative balance protection for European clients. This protection fund is 85,000 GBP.
  • Client Money Insurance policy automatically covers all Axitraderr retail clients. The CMI policy protects retail account balances above $20,000.
  • Negative balance protection is only for the European clients and not for the other countries.
  • Only retail clients are eligible for negative balance protection.

Assets

Axitrader offers CFDs, Forex and Cryptos. It also allows spread betting. Currency pairs including majors, minors, and exotic are also available. CFDs indices, commodity CFDs, and metal CFDs are also available.

Currency Pairs
80
Commodities CFDs
10+
Stock Index CFDs
20+
Cryptos
6

Fees and Margins

67.7% of retail CFD accounts lose money

The fee is categorized into trading and the non-trading fee.

Trading Fee

Have an eye on the fees, spreads, and leverages of this company. Axitrader generally offer low fees of Forex, CFDs, and Cryptos. The spread rate and commissions are different for the Standard and Professional accounts. The official website of Axitrader contains complete information about every product along with their spread rate, commissions, margins, and leverages. There is also a fee and margin calculator on the website.

Assets Spread of Standard Account Initial Margin
EURUSD
1.1
1%
Stock Index CFD (UK100)
1
0.5%
Commodity CFD (Gold)
0.45
1%
Cryptocurrency BTCUSD
14
20%
  • This comparison is about a few and the most heavily traded ones. The rates are on average basis. However, the rates and margin requirements may vary from asset.
  • The spread rate of the pro account is low as 0.00 pips. But the round turn transaction cost of a trade is $7.

Leverages

Axitrader review about providing leverages is very satisfactory. They give leverages from 50:1to 400:1. In some countries, they also allow 500:1. But for cryptos, leverage is always low like other brokers. The average leverage for cryptos is 1:2.

Non-Trading Fee

This fee includes the subscription, deposit, withdrawal fee.

  • Deposit and withdrawal are free of cost.
  • You only have to pay the conversion fee when you withdraw your money except your selected base currency.
  • There is no inactivity fee.
  • Moreover, there are no hidden charges.

Account Opening

67.7% of retail CFD accounts lose money

First of all, you need to know which country is acceptable for this broker. Let us see some facts regarding the account opening of Axitrader.

  • There is no minimum deposit requirement to open your account.
  • It is fully digital.
  • However, it may take 2-3 business days to withdraw your money.

Here are a few steps that might be helpful for you to know the procedure of account opening.

  • Provide your contact details like e-mail, address, and contact number.
  • Enter your personal and professional information.
  • Choose your account type.
  • Fill the questionnaire regarding forex trading.
  • You have to provide documents for verification of your identity and residency. You can use your pictures of your id card, driving license or passport to show identity. For residency, you can share detail and pictures of your bank statement, electricity or utility bill, and credit card detail.

Types of Accounts

67.7% of retail CFD accounts lose money

Axitrader offers two types of accounts standard and professional. They also provide a Spread betting account. Fees and margins are separate for the former mentioned accounts. Moreover, individual, joint, and corporate accounts are also provided.

Standard Account

Anyone from anywhere can sign up for this account. The fee is average and spread rates are comparatively higher but adequate than the professional account. There is no commission for the standard account.

Professional Account

There are some requirements for this account. You should have a high bank balance or liquid assets of the same value. Regular trading is also compulsory for signing up for this account. The spread rate of the pro account is low as 0.00 pips. But the round turn transaction cost of a trade is $7. Professional account holders can also enjoy up to larger leverages.

Spread Betting

This account is available only for the clients of the UK. Spread betting accounts are tax-free.

Swap Free

Moreover, swap-free accounts are also available. There are no swap charges in this account. This account is specially made for the Muslims Traders following the Islamic rules.

Deposits & Withdrawals

67.7% of retail CFD accounts lose money

Axitrader offers free deposit and withdrawal. You can do transactions only by your accounts.

  • There is no minimum deposit fee.
  • Account opening fee is also very low.

You can fund your account with

  • Bank Transfers.
  • Credit and Debit Cards.
  • Electronic wallets like Neteller and Skrill.
  • Australians can also use their electronic billing system, BPay.

However, for withdrawal, you can use the same methods but you cannot withdraw your money by debit or credit card which somehow bothers some frequent card users.

To withdraw you need to follow these steps.

  • Log in to your account.
  • Click on the option of withdrawing money.
  • Add your method and desired amount.

Withdraw takes almost 2-4 working days.

Account Base Currency

There are 11 base currencies available at Axitrader. The available base currencies are EUR, GBP, USD, PLN, CHF, AUD, CAD, HKD, JPY, NZD, and SGD.

If you pay, trade, or withdraw your money except for your selected base currency then you have to pay a conversion fee. However, to avoid it try to choose a multi-currency bank.

Trading Platform

67.7% of retail CFD accounts lose money

Axitrader offers MetaTrader4 and MetaTrader4 NextGen for the pro traders.

MetaTrader 4

  • MetaTrader 4 was introduced to the market in 2005 by MetaQuotes.
  • MT4 has a wide range of assets.
  • It involves the feature of Expert advice.
  • MT4 provides 3 types of charting tools.
  • It facilitates by backtesting strategy.

Web Trading Platform

  • It is user friendly.
  • Fee reports and trading history are clear.
  • You cannot set price alerts
  • It has good customizability (for charts, workspace)
  • Design is old.
  • Search functions are good.
  • You can place only basic order types like market, stop, limit, Good till time and good till canceled.
  • It is available in a large number of languages. Lit looks like everyone can understand and use this software.
  • Login is a double step. Unlike other software, MT4 sounds safer.

Mobile Trading platform

  • It has good customization.
  • MT4 mobile version is available on iOS and android.
  • Search functions are better than the web version of this platform.
  • You can set only basic order types like limit, market, stop and good till time. Good till canceled is also available. They are the same as that of the web version.
  • It is available in many languages also.
  • Login is a single step that is less safe.
  • You can set price alerts and notifications.
  • There is double-step verification for withdraw or depositing funds in your account.
  • The fee report is clear.

Desktop Trading platform

  • It is almost as same as the web trading platform.
  • You can set basic order types like you can set in mobile and web version of it.
  • Search functions are just average.
  • You can set up price alerts and notifications. All you need is to enter your MetaQuotes ID.
  • It is outdated.

About NextGen

  • This is built for the professional traders. It includes many features.
  • A sentiment indicator.
  • The economic calendar contains authentic data.
  • Auto trade Journals.
  • Risk management tools like alarm manager.
  • It also provides trading ideas and trade signals.

About PsyQuation

The PsyQuation Score is a ranking algorithm powered by Machine Learning.

  • It predicts the performance by watching and analyzing the trading styles and trading history.
  • It is like a mentor that watches your performance and then works for the betterment of your performance.
  • It has risk management tools.

Auto Trading

Axitrader also offers auto trading. It uses the MT4 interface.

Ratings of Platforms

Web Trading Platform- Hardly Average

Mobile Trading platform– Good

Desktop Trading Platform– Average

Research

67.7% of retail CFD accounts lose money

Axitrader review of its research is just average.

  • There are no trading signals on MT4 and trading ideasMT4 and trading ideas.
  • MT4 is sometimes outdated. The data on it is normally not the latest.
  • Some quality data and research are available on the website and blogs of this company.
  • There is also an economic calendar including macro events.
  • Fundamental data is not updated for the last few years.
  • Newsfeed is also a good guide.

Education

67.7% of retail CFD accounts lose money

Axitrader review about providing education is also appreciable. They provide education by various means. The official website contains a section of “Education” that has very detailed and defined content in it.

  • They have helpful and comprehensive e-books, articles, and blogs.
  • Educational videos
  • Platform tutorial videos
  • Trading tutorial Videos
  • Webinars
  • A demo account with virtual cash is also provided to test and enhance the skills of a trader.

Bonus and Promos

They sometimes offer bonuses and different promotional deals on availing various services and using different trading tools. AxiTrader also provide different discounts and promos in certain areas.

Customer Services

67.7% of retail CFD accounts lose money

Axitrader review about their services is good. Customer services are available in many languages.

  • You can contact with phone, email, and live chat. However, e-mail is quite slow. We tested it and we find it poor.
  • Phone support is also available.
  • They are very relevant and responsive to their queries.
  • Customer services are available 24/5.

Here are some details to contact them.

  • The official website of this company is Axitrader.com.
  • Email: [email protected]
  • Australian Free Phone number: 1300 888 936
  • International contact number: +61 2 9965 5830
  • The contact number of every country is given on their official website.

Axitrader Review

67.7% of retail CFD accounts lose money

After our research, we found Axitrader a good broker. Axitrader review is a blend of excellent, good, average, and slightly poor. They are above the average but trustworthy and reputable broker. This firm has a good and attractive clientage. Even it is the first choice for the newcomer professionals. AxiTrader has won several awards for its better performance. MetaTrader4 integration and their competitive spreads are responsible for their good reviews.

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