The Five Feature Of AxiTrader
- Advanced Forex Trading Platform using MT4 + NextGen
- ECN trading achieving low spreads from 0.1 Pips
- Autochartist and other advanced features
- A dedicated account manager and 24 hours support
- High leverage of 400:1 to amplify equity on forex markets
AxiTrader was founded in 2007 and are based in Sydney, Australia. They are regulated by ASIC and have won the ‘most trusted’ and ‘recommended’ awards.
1) Advanced Forex Trading Platform
MetaTrader 4 is the most popular forex trading platform offered by other leading forex brokers such as IC Markets. AxiTrader offers Nexgen features which enhances the MT4 experience through several features.
i) Sentiment Indicator
MetaTrader AxiTrader Nexgen is a tool designed to provide deeper insights into foreign exchange markets. Information is displayed not only about current trading but also historic as well as short and long sentiment.
This allows a trader to see how many piers are long and how many are short for a currency pairing.
ii) Correlation trader
This feature provides the ability to spot new opportunities when they arise and reduce money management errors.
This enables a trader to see if currency pairs are correlated in conjunction with Correlation Matrix.
iii) Alarm manager
This manager allows traders to get event notifications within their accounts and then make automatic actions.
This actions can even be forwarded to other followers through SMS, e-mail or even Twitter.
iv) Automatic Trader Journal
This journal allows a trader to see past trades and chart them with stats including total return, trade wins percentage and trade length.
This allows a trader to understand what is working to help improve future strategies and tactic.
v) Connect Calendar
This provides news through an RSS which can be filtered (eg by keyword) or by time period. A calendar also outlines events and alerts a trader as to when they are arising and the currency pairings they impact. This again had filters to ensure that only the news and alerts that are relevant are passed along.
AxiTrader Forex Trading Platform Conclusion
Overall, if your happy to use MetaTrader 4, then AxiTrader should be on your short-list of Australian forex brokers. It’s only those who prefer cTrader which has specific features that may want to consider Pepperstone.
2) Low Spreads And Commissions
AxiTrader was reviewed as having one of the lowest spreads based on their ECN forex broker platform. Because the fx broker is a market maker it allows forex trading direct to the market without dealer intervention minimising spreads.
This AxiTrader spread review was based on their MT4 Platform Pro account which charges $7 round trip (USD) commission on trades allowing for market-based (not forex broker-based spreads). MT4 Platform Standard has no spreads but larger spreads and is tailored more to those new to forex trading.
Below highlights some example average spreads in 2017 based on their standard account and pro account. The spreads are considerably lower in the pro account and even taking into considering commissions, fees are often lower.
Additional Positive Price Improvement To Further Reduce Spreads
AxiTrader has price improvement technology is built-in to MetaTrader 4. This ensures their forex traders receive the best possible price in the market. This is especially useful in turbulent markets when price movements change rapidly. The ECN style liquidity also ensures forex trading with depth. This is due to Axitrader liquidity providers including financial institutions, banks and hedge funds.
AxiTrader Spread And Fee Conclusion
The AxiTrader Pro account is the recommend choice for advanced forex traders looking for market makers with ECN spreads and low commissions. These are market based spreads which can significantly reduce brokerage costs when currency trading.
3) Advanced Trading Features
- Axitrader Autochartist
- Demo Trading Account
- Axitrader Trader Sentiment
- Axitrader VPS
MetaTrader 4 Autochartist
Axitrader offers the Autochartist MetaTrader 4 plugin for free to active forex traders. This plugin scans currency markets to find opportunities from a single chart.
The plugin automatically maps volatility to outline realistic exit levels to match market conditions. E-mail subscriptions can also provide details of the market for the next one to two days.
The plugin also provides six months of performance data. There is also a minimum probability function which based on statistics finds the most relevant opportunities on currency markets.
Demo Trading Accounts
AxiTrader offers a 100% free demo account. The duration of the demo trading account is 30 days offering:
- Virtual funds of $50,000 to practice forex trading in a risk-free environment
- MT4 real-time access including spreads to simulate forex trading
- Market prices to test forex strategies including automated programs
The main features that demo account holders don’t have is access to client support and a dedicated account manager.
AxiTrader Trader Sentiment
This feature displays long and short information from current and historical traders. This includes the number of forex traders who had to buy, sell or open positions. The tools help current traders understand the number of traders who are short and long within currency markets.
Data for the AxiTrader trader sentiment come from real currency accounts. They are published on the fx blue website periodically. Any popular currency trading can be viewed. An example is AUD/USD which could be 62% short and 38% long.
To minimise disruptions through connectivity or technology issues a Forex VPN service can be adopted. Automated trades (Expert Advisors) especially can benefit from a VPN. AxiTrader VPN rebates exist across:
- FOREX VPS has a $34.99 rebate for traders who exceed 20 lots in a calendar month. The account needs to be a basic VPS edition.
- MetaTrader VPS by the owners of MT4 has an offer for AxiTrader customers with a subscription costing $10 USD per month.
- COMMERCIAL NETWORK SERVICE has a $35 credit for the monthly fee as long as the trader exceeds 20 lots in the calendar month.
- BEEKSFX VPS has an offer of an additional 256MB of memory and 30% discount for the first month. To receive this put in the voucher code AXIOFFER.
View the full AxiTrader review here.
4) High Leverage Available
The Maximum AxiTrader hedging (leverage) for a MetaTrader 4 account is 400:1. A standard account is a setup with 100:1 and a special request is needed to move to the highest level. This 400:1 level is high relative to other Australian forex brokers but lower than some other competitors.
A common question traders ask is whether “Pepperstone or AxiTrader” are better suited for their needs. It’s recommended to review our forex broker comparison table for a full comparison but leverage is normally sighted as a key difference. When comparing Pepperstone or AxiTrader leverage the levels are 500:1 vs 400:1 respectively. This is significant for high-risk traders or those using automation know for MetaTrader 4 as expert advisors.
Understanding The Risks Of Leverage
It’s worth noting that these 400:1 and 500:1 leverage levels are the maximum allowed by the Australian forex brokers and not the default levels. Trading at these levels carries significant risks as they amplify the exposure to the market. This is required as historically most currency movements are small so to make trading worthwhile leverage is required. For example, a 0.1% movement in a currency pair with a leverage of 100:1 will lead to a profit or loss of 10% (before trading costs).
Our Australia AxiTrader review takes into account risks and while their MT4 margin call software works to exit traders before they reach negative balance. This AxiTrader margin call facility doesn’t guarantee that a negative balance won’t occur. Losses therefore can exceed the deposit levels of a forex trading account. If you have a low-risk tolerance you may wish to consider an Australian forex broker offering features such a guaranteed stop or negative balance protection.
5) Advanced Customer Service
Our AxiTrader review gave full marks to the Australian forex broker for their customer service based on their:
- Dedicated account manager program
- 24-hour support during weekdays
- A local call centre in Sydney, Australia
- Multi-Lingual support from other offices
Dedicated Account Manager Program
AxiTrader pairs up forex traders with an account manager from the time they open a live MT4 account. Some other Australian forex brokers offer dedicated account manager for some select brokers (and only on request) whereas AxiTrader offers this for all traders. This can be helpful for traders new to currency trading or those who require support for sophisticated strategies. Account manager offers MT4 support and can assist with automated forex trading (Expert Advisory).
Support From Real Australians
A real bonus found in our Australia Axitrader review was the local support offers. The forex broker has their head office in Sydney allowing for a local call centre that understands Australia trader needs. There are also offices in Chisinau and London ensuring support is also available all day and night. These call centres also are bilingual for those who prefer languages outside of English. There is also a details education centre which features fundamental and technical analysis of forex markets.
AxiTrader Frequently Asked Questions
What Are The Axitrader Funding Methods?
There are 10 ways to add funds to an AxiTrader account:
- MasterCard Instant
- Credit Card (MasterCard, Visa, JCB)
- Debit Card (MasterCard and Visa)
- Bank Transfers & Bank Wire
- China Union Pay
Forex traders can also transfer their funds from another forex broker by filling out a form after opening an account.
Are There Fees When Making Deposits?
AxiTrader now covers the main fees charged by funding methods from PayPal to credit cards.
The only fees a trader will occur is non-transactional fee such as a credit card provider viewing the transfer as a cash advance or an international bank transfer.
What is the AxiTrader Minimum Deposit Levels?
A unique feature in this Australia AxiTrader is that they don’t have a minimum deposit requirement. This means any amount can be added to an account through the ten deposit methods available.
How Do I Withdraw Funds From Axitrader?
Using MetaTrader 4 a forex trader can submit a withdrawal request or the trader can contact their AxiTrader account manager.
These withdrawals are processed each weekday between 9:00am and 3:00pm AEST. Processing times of the payment solutions vary for example, international transfers can take up to five days. Payments will in most cases go back to the funding source.
When Is AxiTrader Call Centre Open?
AxiTrader customer support opens at 7:00 am on Monday and closes at 7:00 am on Saturday. These times are Australian Eastern Standard Time (Sydney) applicable and can vary by one hour depending on daylight savings.
The Australia toll-free number is 1300 888 936 (Australia) while international traders can call +61 2 9965 5830. There are also live chat facilities.
Does AxiTrader Only Offer MetaTrader 4?
Yes. AxiTrader exclusively offers MetaTrader and no other forex trading platforms such as L2, cTrader etc.
Is AxiTrader MT4 For Mac Available?
Yes. MetaTrader 4 for Mac (MT4 for Mac) is available in both demo or live account form. There are no plugin-ins or add-ons required with a complete Ma based solution available. Features such as EAs (Expert Advisors), charting and custom indicators are all available with this AxiTrader MT4 for Mac version.
What Is The AxiTrader Minimum Deal Size?
Traders with AxiTrader can use micro lot trading (0.01 volume) on all standard accounts. Pro accounts can trade mini lots (0.1 volume) on over 60 FX pairings. View the AxiTrader product schedule to learn all deal sizes across currency pairs and commodities.
What Is The Ownership Of AxiTrader?
AxiTrader parent company is AxiCorp Financial Services. The company is majority Australian owned.
Where Is AxiTrader Regulated?
AxiTrader is regulated by ASIC in Australia and the Financial Conduct Authority in the UK.
Disadvantages Of AxiTrader
While there are key advantages mentioned above for choosing AxiTrader the Australian forex broker isn’t suitable for all forex traders. Below shows the five largest weaknesses of the fx broker that should be considered.
1) Choice Of Forex Trading Platforms
AxiTrader only offers MetaTrader 4 (MT4) as the sole forex platform. While MT4 is the most popular forex trading platform in the world many broker preference the newer MetaTrader 5 offered by Pepperstone. Additionally, cTrader offered by IC Markets is often a preference by advanced automated forex traders. Only if your a fan of trying or continuing to use MT4 is AxiTrader the right forex broker for you.
2) Lack Of Risk Management Tools
The trading accounts offered by AxiTrader offer stop-loss functionality and margin call technology to exit a trader when approaching minimum balance. While this is adequate for expert forex traders there are additional tools for those new to forex trading. This includes guarantees stop-loss orders to prevent a loss from exceeding a predetermined amount. Some fx brokers also offer negative balance protection. This stops losses exceeding the brokers’ deposit in any market condition.
3) Range Of Markets
AxiTrader primarily focuses on forex trading with some additional CFD trading. This includes commodity trading from Bullion, Gold to Oil. Bitcoin can also be traded as a CFD and there is also a dividend forecast schedule. What the forex broker doesn’t offer is CFD trading on other cryptocurrencies. They also don’t offer share trading which the larger brokers offer. If your looking for a wide range of financial products then other larger brokers may be worth considering.
4) Lack Of Bonus Offers
Many forex brokers offer joining bonuses such as matching deposits. Others like Pepperstone rebate based program on the volume traded. AxiTrader avoids offering these bonuses highlighting they are a low-cost broker avoiding any gimmicks. That said, bonus offers do provide an incentive to switch brokers which can be a timely process.
5) Minimum Deposits
The minimum deposit for AxiTrader is $200 for the standard account. The AxiTrader Pro account minimum deposit is $1,000. This is comparatively high for an Australian forex broker and a low volume trader may be deterred by this requirement. It should be noted that this deposit level is set at the Australian Dollar rate.
Conclusion On AxiTrader
AxiTrader targets a very specific forex trader in Australia. These are traders who have some trading experience and a preference for MetaTrader 4 with a focus on low brokerage. If you are looking for a low fee broker with strong customer service then AxiTrader is worth considering.
Additional Australia AxiTrader Review Information
This Australia AxiTrader review was completed on the 12/11/2019. It was based on information that came from the AxiTrader website and credible third-party sites. The information provided in the AxiTrader review is to assist in the decision of what Australian forex broker is suitable for your currency trading needs. The forex broker comparison is not designed to provide forex trading advice and it’s recommended that traders understand the risks associated when you trade forex.
A list of all forex brokers can be viewed on the homepage with tables designed for different types of brokers from low fee, high leverage to feature-based traders.