AxiTrader Review

Looking for the best forex broker? Your search is over. Read our AxiTrader review to evaluate the pros and cons of this online forex broker and choose on the basis of data if it is suitable for your needs. This article is dedicated to reviewing one of the best regulated brokers and to give you a clearer idea of what to expect in case you decide to open an account with them.

AxiTrader Review 2019 – A Must-Read Before Trading

AxiTrader is an Australian brokerage founded by traders for traders. Started in 2007, in the height of the financial crisis, that they have been through quite a bit and cut their teeth in some of the most difficult trading conditions we’ve ever seen. The brokerage has grown to be one of the largest brokerage firms in Australia, offering both retail and institutional trading for people around the world.

Trading accounts

AxiTrader has two accounts that they offer, the Standard and the Pro account. The difference between the standard and the Pro account is spread, and whether or not there is commission. They offer the same type of trading and of course the same platforms, as well as the same margin. Overall, it comes down to whether you are looking for tighter spreads with commission, or no commission and spreads. Spreads are tight in the standard account though, so it’s not a major disadvantage.

The company

AxiTrader is an award winning service coming to you from Australia, with 24 hours support, high liquidity, and tight spreads. They are well known for their exceptional client support, and the liquidity is sourced from multiple destination in the Forex markets. AxiCorp, the parent company of AxiTrader is regulated by the Australian Securities and Investments Commission, holding license number 318232. Because of this, you can look into their financial background, and any business dealings that they have in Australia, making the broker very transparent and reputable.

Trading conditions

Initial deposit

AxiTrader has a minimum deposit of just $200, but if you wish to get into the ECN account, then you are looking at an initial deposit of $2000. Because of this, you have the ability to trade with a very small amount of trading capital, assuming that you are okay with a standard account. Either way, if you are looking to trade Forex in a serious manner, $2000 is not much to put into the account.

Spreads and conditions

AxiTrader offers tight spreads, with as little as 1.0 pips being the spread for EUR/USD in the Standard account but can be as little as 0.1 pips in the Pro account. Obviously, this can change depending on the liquidity conditions, and of course the market that we are trading. Gold markets start at 14 pips and go down to 2 pips.

Leverage

AxiTrader offers a generous 1:400 amount of leverage on their Forex products, and as a result smaller accounts can build up quite quickly, but keep in mind that the opposite is also true. Overall, this is a market that can be dangerous at times, so by all means make sure you are very careful when using these high amounts of leverage, but obviously you do have to know what you’re doing if you do choose to take advantage of high leverage.

Trading platforms

AxiTrader offers MetaTrader Pro, the paramount MetaTrader platform available. This allows for a DOM in trading, giving you access to liquidity information. Beyond that, there are several other benefits to using the professional platform, and those who have experience using the more common MetaTrader platforms, you will feel right at home with this powerful platform. Beyond that, there are all the usual MetaTrader opportunities and varieties as well.

Payment methods

AxiTrader offers both deposit and withdrawal options including bank wire, credit card/debit, B2B, and Skrill. This allows traders to be able to access their money and fund their accounts rather easily, as most of you will have plenty of access to these options.

Extras

AxiTrader has a strong educational section, offering education in both Forex and CFD markets. Trading signals are also available from other clients of AxiTrader, and of course there is very detailed commentary involving technical analysis. I think at this point, most brokers offer these tools, but Autochartist is also offered, which of course a lot of people like.