Brokers News

AxiTrader Launches U.S. Operations

Feb 07 2013 13:59:32 GMT
By
Hannah Levi , Forexbrokerz.com Find me on Google+

During the past few months, we haven't really reported any particularly good news about the U.S. retail forex market – mainly because there were no such news. The National Futures Commission (NFA) had gone on a witch hunt against isolated brokers and against the industry in general, and brokers kept withdrawing from the USA. 

 
Fortunately, earlier today the Australian AxiTrader has released some news to break that cycle: it is beginning to offer margin forex in the U.S. through the AxiTrader USA brand.
 
AxiTrader USA is the brand of the  AxiCorp USA, LLC company, operating out of Chicago, IL.The brokers US operations will be headed by Brian King, who has been with the company for a little less than a year now and has over 15 years of experience in the financial industry. 
 
“AxiTrader USA believes that US traders are entitled to a better deal than they’ve been getting. For too long now, traders have had to choose between a handful of large and dominant players who have not kept pace with traders’ increasingly sophisticated demands for a state-of-the-art service at competitive prices. We wouldn’t be happy trading with them, so why should US clients have to,” said King, commenting on the news. 
 
Setting up a brokerage in the United States is quite the hard task, and keeps getting harder – therefore AxiTrader has decided to take the introducing-broker approach and partner with ILQ, a large American institutional broker. This way, AxiTrader avoids the need to register as a FCM and present proof of $20 million in net capital. Instead, ILQ offers non-US brokers the opportunity to enter that market with a branded trading solution. 
 
AxiTrader USA customers will be able to trade via the Metatrader 4 (MT4) platform and enjoy good spreads – 1.5 pips on EUR/USD and USD/JPY, and 2.1 pips on GBP/USD for example. 
 
According to an official AxiTrader source, in the next two years the company expects AxiTrader USA to become one of the top 4 retail forex brokers in the States in terms of trading volumes. Frankly, I find such plans to be a bit too ambitious - after all, AxiTrader would need to catch up with companies like Forex.com, FXCM, Oanda and Interactive brokers who host the biggest numbers of active accounts - but time will tell. 
 
 

About AxiTrader

 
AxiTrader, headquartered in Sydney, is the largest independent Australian-owned and founded forex trading firm. AxiTrader currently services more than 18,000 accounts, with a combined trading volume of about $60 billion a month. The firm’s servers are located in several continents, facilitating trading services to AxiTrader clients worldwide.
 
AxiTrader’s key advantages include 2-way streaming interbank pricing on FX, spot gold, silver, oil, and indices; integrity on pricing with the most competitive spreads and consistent liquidity on the widest range of currency pairs; flexible trading sizes; risk-management tools; personalized customer service; etc. 
 
AxiTrader’s state of the art trading platform is a free and easy to use click and deal trading platform. 
TAGS: AxiTrader  NFA  forex trading  forex broker  IB  introducing broker  ILQ  Forex.com  FXCM  Oanda  IBFX  Interactive brokers 

More news about AxiTrader

More Forex Brokers News

Russian broker AForex introduces cent forex accounts

Aug 29 2014 13:42:41

  The Russian broker announces the introduction of cent accounts in order to boost automatic trading acknowledging the wish of its clients.   Cent account, one in which $175 are listed as 17 500, is such that allows to trade with, obviously, cents. Read more

UK forex broker ETX Capital acquires Ariel Communications

Aug 29 2014 11:17:55

ETX Capital, a FCA regulated broker, acquires its main platform and technology provider Ariel Communications.    ETX Capital is the brand name of Monecor Ltd. The company might be one of the oldest forex brokers since it is founded in 1965. Read more

FXPro launches new web MT4 trading platform

Aug 29 2014 09:43:00

FXPro, a CySec and FCA regulated global forex broker, replaces its old web platform with an in-house made new one which offers many more features like charts and technical indicators.   FxPro is no doubt one of the most ambitious and fast growing forex brokers out there. Read more

Dukascopy to offer CFDs on major indices

Aug 27 2014 13:42:18

Dukascopy, a Swiss bank and forex broker, is adding CFDs to its trading instruments. For now they can only be traded on demo accounts with the trading feature coming soon for Live accounts. Read more

ThinkForex to add live financial news audio stream

Aug 27 2014 10:48:38

ThinkForex, an innovative Australian forex broker, in cooperation with RanSquawk will add a radio service providing customers with financial news in real time. Read more

Monex Group reveals weak results for July

Aug 27 2014 09:31:06

Monex, one of the largest Japanese forex broker, reports that its operating revenues for July are down with 1.4% compared to June and with 13.2% on an early basis.   Monex group is experiencing difficulties this year. Read more

Exness independent audit reveals a record trading volume in June

Aug 26 2014 13:59:26

  Exness, a CySec regulated forex broker, announces a record trading volume of $186 billion in June.   Exness is to our knowledge the first broker to use external audit to verify its monthly operational metrics. The company's auditor is Meritorius Audit Limited a subsidiary of MAP S. Read more

YoutradeFX to offer binary options in Australia via a new Woojoo Trader brand

Aug 26 2014 09:33:55

After selling their Australian client base to AvaTrade last month YoutradeFX, a forex broker regulated in Australia, is launching a new binary options trading brand called Woojoo Trader.   YoutradeFX Australian website (ytfx.com.au) is no longer operational. Read more

Dukascopy Europe launches demo binary options trading accounts

Aug 25 2014 12:03:05

Dukacascopy Europe, the Lithuania based subsidiary of Swiss Dukascopy Bank, today announced the launch of demo binary options trading. According to the announcement, live accounts are to follow soon. Read more

Saxo Bank: Client's deposits hit record high in H1 2014

Aug 22 2014 12:28:17

Saxo Bank, a Danish bank and forex broker, has revealed its operational metrics for the first half of the year showing a decrease in income and profits compared to H1 the prior year. Read more