AxiTrader

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Summary

AxiTrader is an Australian company that started operations in 2007. Axitrader is supervised by 3 different regulatory mechanisms according to the countries where customers are located.

AxiTrader AU – The company is based in Australia and is regulated by the Australian Securities and Investments Commission (ASIC). AFSL number 318232
AxiTrader UK – Based in the UK and overseen by the most respected Financial Conduct Authority (FCA). License Number 509746.
AxiTrader SVG – Located in Saint Vincent & the Grenadines, but not regulated by any organization.


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Trading Accounts

In Axitrader you must choose one of 2 account options. In addition, there are demo versions of both accounts. Your account can be converted to a swap free or Islamic account if you demand it from the customer service.

  • Standard Account
  • Pro Account
  • Demo Account
ACCOUNT TYPES & FEATURES


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Registering an Account

Account registrations are online. If you are a citizen of some countries, such as the US, Iran and Israel, you cannot open an account with Axitrader.

You should start your application by typing your credentials, e-mail address, phone number and country. Then you need to set your password.

 


After entering the requested information, you will need to fill in your personal information, such as your account type, leverage and address, respectively. A window will open at the end of your personal information so that you can authenticate. You can upload a photo of your ID or passport from this window, or you can then do the same from the customer area.


In the final stage, you are expected to answer the following questions about your personal experience such as your market experience, trading style and income.

Open a Live Account


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Deposit and Withdrawal

Axitrader does not charge any commission for deposits or withdrawals. You can make your deposit by credit card or bank transfer or through common virtual wallets such as skrill and neteller. For withdrawals, your only option at Axitrader is bank transfer. The company does not allow you to withdraw you monet to credit cards, debit cards or e-wallets. You can review all payment methods in the specification section down below.


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Trading Platforms

You can use Metatrader 4 software and mobile versions to trade at Axitrader. In addition to the standard features of Metatrader software, the company offers a number of improved features such as AutoChartist, Metatrader NexGen and multiple account management for customers making a certain amount of deposits. With these features, you can use additional features such as managing multiple accounts at the same time, alarm management, correlation tracking, advanced automated transaction analysis.


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Products, Spread and Commissions

We can say that the spreads of Axitrader’s commissioned account is competitive. However, in addition to the spread, you will need to take into account that you have to pay 7$ per lot. The standard account does not have this commission, but as you can imagine, the spreads of the standard account are significantly higher than the account with commission. 140 tradeable products have been submitted for the Pro account, in terms of the number of products, we can say that Axitrader provide more products than many companies. Below you can see the tradable products and spreads offered for the pro account. Spreads are given in points. (10 points = 1 pip) Like other reviews, we recorded the images towards the end of the London session to get objective review results.

TRADEABLE PRODUCTS AND SPREAD


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Bonuses

No promotions were active at the time of the review.


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Customer Service

Axitrader customer service is available 24/7 via e-mail, live chat and telephone. Phone support for 11 countries is available in English only. Our test email support request was answered the day after. You can reach representatives faster with online chat. We had to wait 2 days for document approvals. In general, we can say that average customer support is offered, not bad but we didn’t see enough to say good.


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Conclusion

In general, Axitrader is an experienced Australian company that offers competitive spreads and is supervised by prestigious authorities. Depending on the country in which you open an account, the regulation mechanism may vary. AutoChartist, Metatrader NexGen and multiple account management, such as the additional extensions you can make your life easier. The company, which does not set a lower deposit limit, unfortunately does not support Metatrader 5. In addition, it is remarkable that withdrawals can only be made by bank transfer and the demo accounts are time limited. If you wish, you can experience the trading conditions by opening a trial account with a 30-day time limit.

Open a Demo Account

Tags:

Specification: AxiTrader

Location
Regulators

FCA, ASIC

Trading Platforms

MT4, MT Webtrader, MT Mobile

Tradeable Products

Forex, CFDs

ECN Order Processing

No

Number of Products

140

Leverage

1:500

Islamic Swap-Free Account

Yes

Minimum Deposit

0$

Money Transfer Options
Multilingual Customer Support

No

Micro Lot Trading (0.01)

Yes

Spread Index

1.93

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Expert Score 7.5
Regulation Reliability
9.5
Expenses
8
Spread
8.5
Diversity of Products
8.5
Promotions
0
Money Transfer Options
6.5
PROS:
  • No lower deposit limit
  • Additional features for trading platforms
CONS:
  • The only option for withdrawals is bank transfer
  • Demo accounts are time-limited
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