AxiTrader

Editor's Score 3.8
Pros
  • Top quality customer support
  • Competitive spreads
  • Strong regulators
Cons
  • Not many CFDs which aren’t forex-related
  • No bonus offer
  • Only provide the MetaTrader platform
Min Deposit
$0
Max Leverage
1:500
Mini Account
Platforms
Withdrawal Options
  • Credit Cards
  • Bank Transfer
  • Skrill, Neteller
  • Global Connect, BPAY

Review

Introduction

AxiTrader have been around since they first started in 2007 out of Sydney, Australia. The United Kingdom part of their brand was launched in 2012 in London and they have also established themselves in China since 2015. They have seen a lot of success in recent years and have further bases in the likes of Latin America and the Middle East.

They are regulated by the FCA in the United Kingdom, as well as having their AFS license with the ASIC in Australia. They cater for more than twelve languages and their platform is very straightforward and easy to use

  • Founded initially in Sydney, Australia
  • Offices across the world
  • 12 languages catered for

Trading Conditions

There are two different trading accounts available to you, which are the MT4 Trading Standard Account and the MT4 Pro Account. The spread start from 1.0 pips on the standard account and there is no commission charged, the minimum trade size is 0.01 lots, there is no minimum required deposit and you have leverage of up to 400:1. There is free VPS hosting with both types of accounts. With the Pro account, the spreads start from 0.0 pips, there is a round trip commission of $7 and there is no minimum required deposit.

  • 2 account types
  • Standard account suited for beginner traders
  • Commission charged on Pro account

Products

With AxiTrader, there are a total of 53 currency pairs available for you to trade, with a total of 41 CFDs available to you. They have recently launched a Bitcoin CFD and they allow you to trade instruments related to commodities, metals, bullion, oil, gold, silver and major indices.

  • 53 currency pairs offered
  • More than 41 CFDs available

Regulation

With the company being founded and having headquarters in London, they are regulated by two separate bodies. They are regulated by the Financial Conducts Authority in the United Kingdom (FSA number 509746), as well as being regulated by the ASIC in Australia (ASFL number 318232).

  • Regulated by trusted authorities in the UK and Australia

Platforms

AxiTrader only has MetaTrader based platform for you to use. These are industry standard trading platforms which experienced traders will be experienced with using.

They have all of the relevant add on products from the Metaquotes software company, who develop the various MetaTrader versions. You do have the ability to use a demo account, but there is no MetaTrader support from AxiTrader for those using a Mac desktop to trade.

They also only have MT4 and not the newer and more revised MT5 platform. In total, there are 51 charting indicators and 31 charting drawing tools available for you to use

  • No proprietary software
  • Only offers MetaTrader 4

Mobile Trading

As a result of being a MetaTrader only platform, you will able to utilise the platforms on iOS and Android devices, through the MT4 app which can be downloaded straight away from either the App Store or the Android Play store. There is also a version for general smartphones that do not fall under the Android or iPhone categories.

There are 30 trading charting indicators available on the mobile apps and you have the full range of trading instruments to choose from with these apps.

  • Solid mobile offering

Pricing

If you choose to use the pro account, you will be faced with a round turn commission of $7 for a standard lot of 100,000 units.

When it comes to average spreads of EUR/USD, you will have an average spread of 1.46 with the standard account, with a 0.90 all-in cost with the pro account when you factor in the commission.

These will go as low as 1.0 for the standard account and 0.1 for the pro account. As a result of AxiTrader being one of a handful of brokers that say they don’t have any requotes, you are able to eliminate slippage from the equation.

Overall, these prices and commission levels are competitive with the general market as a whole.

  • $7 round turn commission for pro account
  • Lower average spreads with pro account

Deposits & Withdrawals

You have a variety of banking options to choose from, including credit and debit cards, Neteller, Skrill, Global Connect, BPAY and Bank Transfer.


Most of these options will process your deposits instantly, whereas the bank transfer generally takes 3-5 working days to process. There are generally no fees associated with deposing and withdrawing funds.

Usually, withdrawals will be processed within 24 hours with credit and debit cards, as well as the e-wallets like Skrill. Bank transfer withdrawals will take 3-5 business days.

Most users are pleased with the transaction times and the funds are kept safe and secure throughout the entire process.

  • Deposits process instantly for most options
  • Withdrawals usually take up to 24 hours to process

Customer Support

If you need to get in touch with a member of the AxiTrader customer support team you can do so by email, telephone, or through their live chat feature. There are different numbers to use depending on what part of the world you are located. The team work son a 24/5 basis, so you can always have your issue resolved during the week.

It is extremely easy to get in touch with a member of the team if you give them a call and they cater for more than a dozen languages. Overall, the have a top quality customer support offering.

  • More than a dozen languages catered
  • Team available on a 24/5 basis

Research & Education

There is regular fundamental and technical analysis provided by the team at AxiTrader and there are daily news and blog articles published on the site. There are regularly streamed videos also talking about current issues affecting the markets. Their automated signals and technical analysis are brought to you through the AutoChartist folks.

There is a wide-ranging education section which caters for the needs of new and old traders alike. They have free eBooks and video courses that you can take to upskill and there is an in-depth tutorial to show you how the MetaTrader software works.

  • Regular fundamental and technical analysis
  • Wide ranging education entre

Noteworthy Points

For both AxiTrader account types, there is free VPS hosting. Their automated signals and technical analysis are brought to you through the AutoChartist folks.

There are more than a dozen languages supported on the website and the desktop and mobile trading platforms are very easy to use.

They have a good reputation in the market, having expanded rapidly with offices across the world.

AxiTrader is focused on their offering and not overly concerned with the fritz and frills of high-profile sponsorships. Instead, they prefer to focus on the customer experience and ensuring that they can deliver the best rates possible for them

  • A dozen languages catered for
  • No emphasis on frill
  • Free VPS hosting with both account types

Conclusion

AxiTrader is a quality offering that has been around since 2007 and has constantly been expanding their operations across the world.

They clearly are doing some right with their no frills approach, focusing on providing a quality end product to the user. They have a decent selection of instrument to trade and they have favourable fees and commissions depending on the type of account you find best suited for your needs.

They have a good education system that is ideal for beginner traders and they are flexible enough that they are a good fit for new and experienced traders alike.

Comparison

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