Australian forex broker AxiTrader offers ECN style tight spreads for its Pro Account. Though the MT4 platform, you can access 140+ currency pairs for forex trading, $0 minimum deposit, fast execution, award-winning customer support and other CFD products including cryptocurrencies like Bitcoin.
See our AxiTrader Standard vs Pro Account review and our AxiTrader review below:
AxiTrader is considered the best MetaTrader 4 forex broker based on five core advantages:
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Our AxiTrader review found that the company offers ECN broker spreads. This means that they don’t use a dealing desk but instead connect their clients with an ECN network so you can trade directly with global liquidity pools. These liquidity pools consist of 14 of the world’s leading banks.
There are two Axitrader account types which impact the fx broker costs when trading with AxiTrader.
Primary features of each account include:
1) MT4 Standard Account
This trading account is designed for beginner forex traders as its not a market makers account. This forex trading account spreads are wider than their Pro account however the account has no commissions.
2) MT4 Pro Account
This account is designed for intermediate forex traders looking to minimise spreads when trading. To keep costs low, AxiTrader does not widen the spread but instead charge a commission of $7USD round trip for each standard lot.
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You can view our AxiTrader Standard Vs Pro guide to understand which account is right for you. Below is a comparison of the average spreads for each trading account Axitrader offer:
When spreads and fees are compared to other Australian forex brokers the overall result was favourable. This included comparisons to popular currency broker including Pepperstone and IC Markets. This is because their ‘no dealing desk’ allows direct trading with liquidity pools which also enhances execution speeds.
AxiTrader focuses solely on the MetaTrader 4 forex trading platform. This forex platform is the most popular globally based on its functionality, ease-of-use and automated trading. Based on solely MT4 Compare Forex Brokers found AxiTrader offered the best forex platform offering. It didn’t though receive maximum scores simply because competitors such as Pepperstone and IC Markets offers additional platforms.
The MT4 forex trading platform is ideal for forex traders of all levels. The forex trading platform is very clean and all the charts and other trading tools are easy to find and use.
The site navigation is very nice and offers the best graphical user interface which makes it ideal for all forex traders. Their trading platforms extend MAC and Windows PC and mobile trading tools like smartphone devices such as the iPhone and Android phones and iPad and Android. Traders can make use of the Autochartist and Myfxbook Autotrade which is a social-based trade community. Registered traders can use Myfxbook to connect with their account and follow the trades of the experienced forex traders.
Additional enhancements of MetaTrader 4 have been made through MT4 Next Generation which gives you access to extra features.
Features included with MT4 NexGen include:
In 2014 an Investment Trends report found that AxiTrader forex broker had the strongest brand association as being ‘trustworthy’. This was backed up in 2017 when the Investment Trends Australian forex broker report gave it the highest overall client satisfaction. This could be attributed towards the CFD broker been Australian owned, with an Australian customer support team. This is based in Sydney meeting ASIC training requirements for staff.
The customer service of Axi Corp (AxiTrader) has also won awards thanks to its 24-hour day customer centre. This is only closed on the weekend when currency markets are closed. They can be contacted via e-mail, phone or live chat. The company has clients in more than 150 countries and a Monday to Friday call-centre. When the Sydney office isn’t open there is support from London and Chisinau. All forex traders that open an account are provided with a dedicated account manager. Account managers assist with trades, forex training and other market information. Below shows some of the key players at AxiTrader who have one of the most experienced team worldwide.
AxiTrader offers a wide currency for trading forex. With over 80 currency pairings and 140+ cross pair. This means that in addition to classic currency pairs such as AUD / USD, GBP / USD and EUR / USD there are also minor and exotic pairings. Minor, exotic and cross pairs can have more movements due to thin liquidity which can present significant profit opportunity albeit with a more high risk.
Our AxiTrader broker review noted that in addition to forex they offer other instruments for trading CFDs. The Axitrader range of markets includes:
AxiTrader does lack a few CFD trading services such offer stockbroking and Shares CFD services. This means that you will need to find a share trader provider in addition to AxiTrader as your CFDs provider. Those looking for an all-in-one trading experience may want to consider some of the larger brokers such as CMC or IG.
AxiTrader offer a maximum leverage available is 400:1. This is only surpassed by a handful of traders including Pepperstone, IC Markets, ThinkForex & CMC Markets.
The Leverage AxiTrader offers will depend on which region in the world you join as this will determine which regulator AxiTrader will need to apply.
Axitrader clients from the UK or Europe have more restrictive leverage trading conditions as AxiTrader needs to be compliant with regulations set out by the Financial Conduct Authority (FCA). FCA regulation only allows for maximum leverage of 30:1 for major currency pairs and 20:1 for minor and exotic pairs if you have retail investor accounts.
AxiTrader uses regulations set by the Australian Securities and Investments Commission for all clients that join from outside the UK and Europe. ASIC regulation allows for a leverage of 400:1.
For beginner and even intermediate forex traders, 400:1 should be suitable for their trading strategies. Forex and other trading CFDs are complex instruments so unless you are highly skilled at recognising trading signals 100:1 leverage levels should be adequate for most trader needs. Traders that are looking for higher leverage may wish to view our best platform forex broker table.
AxiTrader also offers limited risk management tools. For example, they do not offer guaranteed stops. If you are new to trading you may wish to for tools to protect your investments. If you require guaranteed stops and other risk management features, have a look at our AxiTrader vs easyMarkets review.
For traders looking for an affordable, reliable broker there could be no brokerage firm better than AxiTrader. It is indeed a leader in Forex trading with fast-paced trade executions and quality customer support. It offers trade assistance in 5 different languages namely English, French, German, Italian and Spanish. Our AxiTrader review found the fx broker is the best in Australia for MT4 traders. If your set on this forex trading platform this is the broker for you.
The broker is an Australian based merchant that was founded in 2008 with its headquarters located in Sydney. AxiTrader prides itself on the 24-hour support, fast trade execution, tight spreads with minimum account slippage.
Our Compare Forex Brokers’ AxiTrader review found that it has a US subsidiary called AxiTrader USA. This is the avenue US-based traders need to choose to trade forex to meet American regulation. At present, the broker offers two different types of trade executions. These are the ECN instant trade order and Non-Dealing desk execution.
The educational centre offers chart tools that provide concise information on various commodities, equity indices and currency pairs. The FX charts offer in-depth information on various charts and provides a suitable interpretation of the various price fluctuations. It does this using oscillator and Fibonacci levels. AxiTrader also offers various online courses right from basic Forex introduction to in-depth market analysis. The broker offers several educational videos which the registered traders can watch free of charge and get enlightened. In addition to the above, the broker also posts daily market updates. This keeps traders award of developments in the Forex industry.
Our AxiTrader review above explains the wide range of financial instruments for trade like oil, silver, gold, CFD, etc. Traders can choose from 50 different types of currency pairs like AUD/USD, JPY/EUR, EUR/USD, AUD/CAD, etc. The market is open 24-hours and one can trade at any point of time suited to their needs. It offers low-cost trading with best in class risk tolerance limit and different types of assets to choose from.
Traders can choose a major base currency for their account from the AUD, USD, JPY to Euro. Deposit options for client funds include bank transfer, credit card, MasterCard, Skrill, BPAY, China UnionPay, bank wire transfer, MoneyBookers to Neteller can be used. For people having AUS bank accounts, the withdrawals do not attract any type of commissions. However, the broker can charge anywhere between 15 to 25 dollars for people having international bank accounts. All the deposits are processed instantly while the withdrawals can take up to 5 days to settle.
Withdrawing funds from an AxiTrader MT4 account is secure, fast and the transaction fees are low to none. The withdrawals are processed on 9:00 am to 3:00 pm AEST on weekdays. After 3:00 pm they are processed the following business day. Ways to withdraw funds including a bank account, Neteller or Credit Card, with some anti-money laundering regulations involved. Some international transfer will result in charges. When choosing to make a credit card or debit card deposit a withdrawal must be to the same card. This is assuming the withdrawal is made within 90 days.
Axitrader is a favourite among Australian forex traders. They have a simple to use forex trading platform, tight spreads (low fees) and an excellent training program. The fx broker is certified in Australia which is critical due to the safeguards in place to protect currency traders.
Australian forex traders have different requirements from forex brokers ranging from leverage, fees to features. This AxiTrader review was based on our trading platform comparison focusing on broker features as a focal point. If you have a different priority then visit our homepage and view our other forex broker comparison charts. Our most popular forex broker comparison tables are low fee, high leverage and bonus offers. All information comes from providers websites with each provider offering free demo accounts to trial their offering and trading currency.
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