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AxiTrader AxiTrader Review - is it scam or safe?

Axitrader Review & Rating | Axitrader forex broker

RATING: 3 / 4 REVIEWS AxiTrader
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Trading Accounts

 

Account type  Minimum deposit  Minimum trade size  Maximum leverage Average Spreads 
MT4 Standard $1 0.01 1:400 1.2 pips on EUR/USD 
MT4 Pro $1 0.01 1:400 0.2 pips on EUR/USD + commission $3.50 per standard lot per side

 

AxiCorp offers two account types – Standard & ECN, both accessible through the popular MetaTrader 4 platform. The ECN account, called MT4 Pro, offers lower spreads (the difference being around 1 pips), but involves a commission of $3.50 per standard lot per side, and requires a higher minimum initial deposit. 

 

Micro lots are available for trade on both account types for those unwilling trade in large volumes.


The Company. Security of Funds


AxiTrader is a FX and CFD brokerage serving both retail and institutional clients. Since being founded in 2007 in Australia, AxiCorp has grown into a truly global business with offices in Sydney, London and Dubai.


AxiTrader is a registered business name of AxiCorp Financial Services Pty Ltd, authorised and regulated by the Australian Securities & Investments Commission (ASIC).


In order to serve EU-based clients, the broker has also set up a subsidiary in the United Kingdom - AxiCorp Ltd. It is duly authorised and regulated by the Financial Conduct Authority (FCA).


London and Sydney are famous forex hubs, providing favorable conditions to both brokers and traders: scalping and hedging are allowed, the FIFO rule is not applicable, and there is no leverage cap.


The Australian and UK watchdog applies certain rules and requirements to license holders, the most important being the minimum capital requirements and clients’ money rule. Both ASIC and FCA-regulated brokers must keep client funds in segregated accounts, separated from the companies operating funds. In order to prove their good financial standing, UK-based brokerages must hold net tangible assets amounting to at least €730 000 and Australian ones - at least $ 1 million.


What is more, clients of UK brokers are covered the Financial Services Compensation Scheme (FSCS) coverage. In the event of a company insolvency, FSCS is able pay compensation up to a maximum of £50,000 per person per regulated entity. Australian FX broker regulation, however, does not include any compensation scheme in case a licensed company becomes insolvent.

 

In April, 2018 AxiTrader announced the opening of an office in Dubai along with a new license from the local Dubai Financial Services Authority (DFSA).


Trading Conditions


Minimum Initial Deposit
There is no minimum deposit required for opening a trading account with AxiTrader. Yet, you need to ivest some in order to initiate a trade. In comparison, FXCM Australia requires as little as $50 for its Mini account, and FCA-regulated FxPro - $500.


Average spreads & Commissions
AxiTrader offers floating spreads, which vary by account category. The typical ones on the MT4 Standard account amount to around 1.2 pips on EUR/USD, which is on the upper end of average, while the ones on the MT4 Pro account are dramatically lower - averaged 0.2 pips on EUR/USD. The Pro ECN account, however, involves a commission of $7 round turn, so trading costs amount to around 0.9 pips for this pair, commission included, which is quite competitive pricing.


In comparison, FXCM AU provides variable spreads averaged 1.4 on its commission-free accounts, and quotes as typical spreads of 0.4 plus on its Standard account type, where a commission of $4 applies.


You may look up and compare real-time spreads of 15 leading brokers for any further information. 


Leverage
The maximum leverage rates at AxiTrader are up to 1:400. Such leverage is considered comparatively high, although many other FCA-and ASIC-regulated brokers offer similar or higher leverage rates. For instance FXCM Australia also provides leverage up to 1:400, and FxPro - up to 1:500. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.


Please, be advised that investing in over-the-counter derivatives with high leverage carries significant risks, for higher leverage ratios may multiply your earnings on a small deposit, but they may also lead to losses, exceeding initial investments.


Trading Platform


Like most forex brokers, AxiTrader supports the popular MetaTrader4 (MT4) platform. It is preferred by most experienced traders, because it is equipped with an advanced charting package, a number of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). Due to its user-friendly interface, novice traders usually also find their way around the MT4 quite quickly. It comes in as PC, web and mobile versions.


What is more, AxiTrader offer their customized version of MT4, called MT4 NexGen. It is equipped with even more features for professional traders and is not available anywhere else.


MT4 NexGen offers a set of tools that enhance everything you do on the platform, such as:


- Sentiment Indicator, which enables you to gain insights into live market trends by viewing how others are trading;
- Session Map – an Interactive map that shows the world’s market opening and closing times;
- Forex news, which allows you not only to Import your favorite news feeds, but also follow traders on social networks.


MT4 NexGen is free to all traders who open an AxiTrader live trading account with a minimum deposit of $1,000.


Besides, AxiTrader has partnered with MyFXbook to provide its clients with AutoTrade – a platform specialized in copy trading. It is available for free (minimum $1000 deposit required), although once you start to trade using the live AutoTrade service, a part of the spread you pay on your trades will be paid to the AutoTrade signal pro vider (up to half a pip per profitable trade).


Promotions
At the time of writing this review, the broker offers Refer-a-Friend bonus of $200 for each referred person who opens a live account with AxiTrader, while the referred one gets $400 in trading.


Methods of Payment


Clients of AxiTrader can make deposits to and withdrawals from their accounts via credit/debit cards, (Visa, MasterCard, Maestro), bank wire, Skrill, Neteller, BPAY, JCB, Global Collect and China UnionPay.


AxiTrader enables clients to open accounts and deposit funds in most major currencies: AUD, EUR, GBP, NZD, SGD, USD, CHF, JPY, HKD, CAD.


Conclusion


AxiTrader is a reliable and well-regulated STP/ECN broker, offering trading in various currency pairs and CFDs on the most widely used MT4. In a nutshell, here are the advantages and disadvantages with regards to this broker:

 

Pros  Cons
Strong regulation No choice of trading platforms
STP/ECN model No Islamic accounts
MT4 available  
Advanced tools on MT4 NexGen  


    

Latest news about AxiTrader
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website

Traders` reviews for AxiTrader

Spread

Pros

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Плохая работа с клиентами

Плохая,не организованная работа с клиентами из СНГ.Конкретно с Украиной.Нет горячей линии,в случае отключения интернета.Поддержка русскоговорящих поставлена плохо.Хотел бы с вами работать,но...Связь только по э-мейлу-это долго.Ответа ждешь неделю.

Translated by Google:

Bad, unorganized work with clients from the CIS. Specifically with Ukraine. Net hotline, in case of disconnection of the Internet. Support for Russian speakers is set badly. I would like to work with you, but ... Communication only by e-mail is long a week.

Николай. 09/12/2017

Massive scammers and fraudsters,a boiler room operation!

DO NOT send a single penny of your hard-earned money to these scammers they will rip you off.I am now in a dispute involving the ASIC (Australian Securities and Investment Commission)and FOS (Financial Ombudsman Service in Australia with these fraudsters,for money they have stolen from me.They closed my trades without my agreement or permission and scammed me for a five-figure sum over $10k,avoid them like the plague the most dishonest scammers in Forex trading today!

Kerobokan 07/12/2016

AxiTrader rebates

The HFT Group now has a website with more information on AxiTrader and rebates offered.

http://www.hftgroupfx.com

Jonathan Pearce 02/08/2013

AxiTrader rebates

An excellent broker with very competitive spreads, low slippage and excellent execution times from CNS or Beeks NY4.

The HFT Group offers a rebate of $1.50 per lot r/t on the Pro ECN account or a 0.4 pip rebate on the Standard account, which is paid by Axitrader back into your trading account.

These are the best rebates offered anywhere for AxiTrader.

http://axitrader.com.au/open-account.aspx?promocode=HFTGroup

Jonathan Pearce 01/12/2013
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