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Axitrader Broker Review

FX Scouts By Jeffrey Cammack Updated: November 28, 2019
Overall Rating
4.43 / 5
Min. Deposit USD 5
Max. Leverage 500:1
Min. Spread 0.1 pips
Regulators FCA,ASIC,DFSA
Regulator Origin FCA ASIC DFSA
Broker Type ECN

Summary

Built by traders, for traders, AxiTrader is an ASIC and FCA regulated ECN broker for the serious trader, where traders execute their positions directly on the markets without any broker interference.

While the trading platform choice is limited to MT4, AxitTader has received strong industry recognition for their setup including Best MT4 Broker 2018 (Compare Forex Brokers Australia) and Best MT4 Provider 2018 (UK Forex Awards).

Joining AxiTrader requires a $5 minimum deposit which gives you a strong MT4 setup and an ECN account.  This combination only highlights further that they are built by traders, for traders.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Bonuses
Beginner Friendly Standard
Our Review Process

Trading Conditions

Minimum Deposit USD 5
Base currencies AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
Number of FX Pairs 80+
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD 0.44
GBP / USD 0.85
USD / JPY 0.62

Company Details

Company name AxiCorp SA Limited
Founded 2007
Website Visit Website
Type ECN
Regulators FCA,ASIC,DFSA
Office locations South Africa, Australia, UK, Singapore, Dubai, Philippines, China, New Zealand

Deposit & Withdrawal Methods

Supported Platforms for Axitrader

Axitrader Broker Detailed Review

Is AxiTrader Safe?

 

AxiTrader has been regulated by the Financial Conduct Authority (FCA) in the UK (license 509746) since 2010, and the Australian Securities and Investment Commission (ASIC) in Australia (license # 318232) since 2007.

ASIC and the FCA are recognised as two of the strongest and most effective regulators in the world, and AxiTrader will be subject to frequent inspections and audits to ensure they are in compliance with rules in both jurisdictions. AxiTrader keeps all funds in segregated accounts and all customer information and communications are encrypted.

AxiTrader has won numerous industry awards, including Most Trusted Forex Broker (UK Forex Awards 2018) and Highest Overall Client Satisfaction (Investment Trends December 2017 Australia FX Report).

Being an ECN broker, client trades are posted directly to the market without any dealing desk interference from the broker, removing any possibility of a conflict of interest.

 

 

AxiTrader For Beginners

AxiTrader is perhaps not the most obvious choice for beginners due to the limited platform choice and higher minimum deposit, but the AxiTrader offering is definitely worth another look for new traders.

While the MetaTrader 4 (MT4) platform is not the most modern it is still the industry standard, and there are many guides and video tutorials to be found online. Setting up MT4 is a chore and it will need to be customised for successful trading.

The higher minimum deposit does also indicate that AxiTrader is looking for the investor client rather than the hobbyist, and this may be an issue for new traders who don’t want to make a large initial deposit.

Any beginner who is committed to learning to trade Forex with a traditional broker on the industry-standard trading platform will find this an excellent place to start as long as the minimum deposit can be met.

 

All new and existing clients have dedicated account management and access to customer support 24/5 via telephone, email and live chat. This support will help you get started and learn how to trade at any time of day that suits your schedule.

Trading Conditions

Account Types

Demo Account

 

AxiTrader offers a demo account with a virtual balance of $50,000 that can be used within 30 days. At the same time, AxiTrader provides a dedicated account manager to every trader who opens an account with them. The demo account is an opportunity to experience the dedicated account management, and get assistance with setting up your MT4 software.

 

MT4 Standard Account

 

The MT4 Standard Account is a commission-free account where spreads start at 1 pip. The service offering is the same as the MT4 Pro account below and only differs in how AxiTrader earns their administration fee from the trades.

 

 

MT4 Pro account

 

The AxiTrader’s MT4 Pro account attracts a $7USD per round trip commission on trades. The round trip means both the buy and sell.

 

Spreads and Commissions

 

Spreads are charged on the MT4 accounts, while commissions are charged on the MT4 Pro account. Because AxiTrader is an ECN broker, spreads will be tighter than that of a market maker, but the offering of an ECN broker will be very traditional and without too many new hallmarks.

 

 

Deposit & Withdrawal fees

 

Most electronic deposit methods fund accounts immediately (credit cards) or within 15 minutes (e-wallets). Local bank transfers will be available daily, while international bank transfers will take 3-5 business days for the funds to reflect in your account. There are no deposit fees charged by AxiTrader, but some credit cards may charge your deposit as a cash advance and apply related fees, so check with your credit card provider should you have questions.

 

Withdrawals are processed within 1-2 days, and funds will be returned based on how the deposits are made. Please allow time for the money to show in your account as different payment methods have different transfer times. All withdrawal requests are made from within the client portal. AxiTrader does not charge a fee for making a withdrawal, but should your bank charge for incoming payments, AxiTrader will not be liable for these costs.

 

AxiTrader Trading Platforms

 

AxiTrader MetaTrader Platform

 

AxiTrader promotes the use of MT4 as the standard for all accounts. The Webtrader and mobile apps are all part of the MetaTrader suite, which allows for simple account management from all devices, and consistent technical support.

 

The MT4 platform is also available for Android, iPad, Mac, and iPhone mobile devices. MT4 offers a “Sign in once, get access everywhere” offering a seamless experience to monitor open trades, or research upcoming ones while on the go.

 

Evaluation Process

 

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the AxiTrader offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

 

AxiTrader Risk Warning

 

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. AxiTrader would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

 

Overview

 

For experienced traders who value traditional international regulation and the MT4 platform, AxiTrader would make a strong choice of brokers. In comparison to some of the other more beginner-friendly brokers, the tight spreads and the wide range of currency pairs AxiTrader offers, make it a favourite for traders who are comfortable in their skill, need limited support, and who are ready to make a higher minimum deposit.

Most retail CFD accounts lose money. Your capital is at risk.

Compare Brokers

Overall Rating 4.43 / 5 4.19 / 5 3.75 / 5
Minimum Deposit USD 5 USD 100 USD 1000
Regulation
FCA FCA
ASIC ASIC
DFSA DFSA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
FCA FCA
Broker Type ECN Market Maker Market Maker
Trading Instruments Commodities,Forex, Crypto, Metals, Indices, Oil Forex, Stocks, Indices, Cryptocurrencies, Commodities, ETFs Commodities, Cryptocurrencies, Forex, Stocks, Bonds, Options, Futures, Shares
Forex Pairs 80+ 50+ 78
Crypto Pairs 1 18 5
Read Full Review Read Full Review
Trust Rating 5 / 5 4 / 5 4 / 5
Trading Conditions 4.5 / 5 5 / 5 4 / 5
Trading Platforms 4.5 / 5 4 / 5 4.5 / 5
Deposit & Withdrawal 4.5 / 5 4.5 / 5 3.5 / 5
Education & Research 4.5 / 5 3 / 5 3 / 5
Assets Available 4.5 / 5 4.5 / 5 3.5 / 5
Customer Service 3 / 5 4 / 5 3 / 5
% Lose with this broker 67.7% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider 77% of retail investor accounts lose money when trading CFDs with this provider
Leverage 500:1 400:1 400:1
Spread 0.1 pips 0.7 pips 1.7 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Mini
  • Standard
  • Vip,Professional
Swap Free Yes Yes Yes
Trading Platforms MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader MetaTrader4, MetaTrader5, WebTrader, AdvancedTrader
Funding Methods Visa, Mastercard, Maestro, Skrill, Neteller, Bank Transfer POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Bank Transfer, Visa, Mastercard, Unionpay
Trading Commission On PRO accounts Yes
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Overall Rating 4.43 / 5 4.19 / 5 3.75 / 5
Min. Deposit USD 5 USD 100 USD 1000
Regulation
FCA FCA
ASIC ASIC
DFSA DFSA
ASIC ASIC
FSCA FSCA
B.V.I FSC B.V.I FSC
FSA FSA
FCA FCA
Broker Type ECN Market Maker Market Maker
Read Full Review Read Full Review Read Full Review
Trust Rating 5 / 5 4 / 5 4 / 5
Trading Conditions 4.5 / 5 5 / 5 4 / 5
Trading Platforms 4.5 / 5 4 / 5 4.5 / 5
Deposit & Withdrawal 4.5 / 5 4.5 / 5 3.5 / 5
Education & Research 4.5 / 5 3 / 5 3 / 5
Assets Available 4.5 / 5 4.5 / 5 3.5 / 5
Customer Service 3 / 5 4 / 5 3 / 5
Risk Disclaimer 67.7% of retail investor accounts lose money when trading CFDs with this provider 71% of retail investor accounts lose money when trading CFDs with this provider 77% of retail investor accounts lose money when trading CFDs with this provider
Leverage 500:1 400:1 400:1
Spread 0.1 pips 0.7 pips 1.7 pips
Hedging Allowed Yes Yes Yes Yes Yes Yes
Scalping Allowed Yes Yes Yes Yes Yes Yes
Platforms MetaTrader4, MetaTrader5, WebTrader MetaTrader4, WebTrader MetaTrader4, MetaTrader5, WebTrader, AdvancedTrader
Funding Visa, Mastercard, Maestro, Skrill, Neteller, Bank Transfer POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer Bank Transfer, Visa, Mastercard, Unionpay

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Most retail CFD accounts lose money. Your capital is at risk.