Forex broker AxiTrader offers variable spreads for 80 currency pairs from 0.0 pips EUR/USD on the MetaTrader 4 platform. easyMarkets offers fixed spreads that are wider 1.2 pips but includes innovative risk management features like dealCancellation and a choice of trading platforms.
View the AxiTrader vs easyMarkets 2020 forex broker comparison below.
By Justin Grossbard / Updated: Wednesday, April 15th, 2020
In our broker comparison, we compared AxiTrader vs easyMarkets forex traders we found spreads are higher for easyMarkets. It is worth noting that easyMarkets have more inclusions as part of their spread. This means some traders might find their spreads present better value.
| Average Spreads (pips) | EUR/USD | AUD/USD | GBP/USD |
|---|---|---|---|
| AxiTrader (variable spreads) - Pro account | 0.44 | 0.42 | 0.85 |
| easyMarkets platforms (fixed spreads) - VIP account | 1.2 | 1.5 | 1.7 |
| easyMarkets MT4 platform (fixed spreads) - VIP account | 0.9 | 1.2 | 1.3 |
easyMarkets higher spreads are due to several factors. These include AxiTrader is an ECN Broker while easyMarkets are a market maker broker
Axitrader offers 2 types of accounts. These are the Pro account and Standard account. Each account has the same offering except the Pro account has a commission fee while Standard account is a commission-free account and instead has a wider spread of around 1 pip.
‘Pro’ Account is an ECN account
AxiTrader is a broker that uses an Electronic Communication Network (ECN). ECN is an automated trading system that connects traders directly with liquidity providers such as banks and other financial institutions. Eliminating the need for a ‘dealing desk’ means spreads can be tighter. As broker don’t wish to change the true market prices of the currency pairs, commissions fees are applied instead.
Spreads offered by AxiTrader are floating. This means prices are constantly being updated depending on prices offered by liquidators. This means traders may experience ‘slippage‘ if spreads change during execution.
The lower spreads offered also make this account ideal for Expert Advisors (EAs)
Clients with these accounts can get the following leverage
Leverage for clients in the UK and Europe will vary depending on if you are a retail client or professional client. To be a professional-client you need to show easyMarkets that you have 500,000 euros in funds and have made an average of ten trades for each quarter over the previous 12 months.
easyMarkets is a market maker broker. This means they quote bid price and ask prices of liquidity for which they will buy or sell. In this sense easyMarkets ‘make the market’.
As a ‘dealing desk’ broker, easyMarkets have many features that make it distinct from AxiTrader. easyMarkets quote their own prices rather than using quotes provided by liquidators. This means easyMarkets do not charge a commission but instead include their fees as part of the spread. Spreads from easyMarkets will be wider than offered by AxiTrader.
Spreads offered by easyMarkets are fixed. This means spreads they do not change except for instances of low liquidity or high volatility. Fixed spreads provide a predictable and low-risk environment for trading. This makes easyMarkets ideal for inexperienced traders or ‘risk-averse’ traders.
An example of easyMarkets keeping their spreads is when the Swiss National Bank ceased pegging the Swiss Franc CHF to the Euro. This saw the spread change by 2000 pips. Despite this, easyMarkets continues to keep its spreads the same.
Both AxiTrader and easyMarkets offer MetaTrader 4 (MT4) however easyMarkets call their platform MT4 by easyMarkets. easyMarkets also offer their proprietary platform which has some features not available on MT4.
MT4 is the platform that is most popular among traders. This is because it is the world’s most popular platform and offers all the main features traders of all type will need.
It is popular for the following reasons:
MetaTrader 4 features include:
| Interface | Simple to use / customisable |
|---|---|
| Instruments | Forex, Indices, Communities, |
| Timeframes | 9 |
| Pending Order Types | 4 (Buy Stop, Buy Limit, Sell Limit, Sell Stop |
| Programming Language | MQL4 |
| Built-in-indicators | 30 |
| Free custom indicators | 2000+ |
| Paid Indicators | 700+ |
| WebTrader | Chrome, Firefox, Safari, Internet Explorer, Opera Edge |
| PC | Windows, MAC, iPhone, iPad, Android |
| Order execution types | 3 |
| Order Fill Policy | Fill or Kill |
| Graphical .Analytical Objects | 31 |
| Hedging | Yes |
| Strategy Tester | Single threaded |
NexGen is a free enhancement tool that offers additional features. These features will be useful for beginner and advanced traders. Some features are namely:
NexGen is a really useful feature as the range of tools can greatly assist traders when making trade decision and then executing them.
In addition to MetaTrader 4, easyMarkets offer their own proprietary platform ‘easyMarkets’ which contains the following unique features.
MetaTrader 4 has one noticeable feature not offered by easyMarkets platform. Expert Advisors (EAs) is a type of software or tool that can automate trading strategies on traders behalf through the use of robotics. While traders can choose MT4 by easyMarkets to use EAs, it is suggested brokers with better spreads be considered.
Overall, easyMarkets platform has numerous risk management features that make it ideal of inexperienced or risk-averse traders.
When traders are selecting a broker its important for them to consider what features they are after. If clients don’t require risk management features then we recommend AxiTrader because of the NexGen features they offer. If clients do require risk management then we recommend easyMarkets.
Neither AxiTrader or easyMarkets provide in-depth information about their hardware infrastructure and execution speeds. While both offer ‘fast execution’ each broker utilise different approaches to ensure clients do not suffer from risks associated with ‘slippage’.
‘Slippage’ is the difference a trader expects to pay for a trade and the price that is paid. Differences in price occur because due to the lag that occurs between the time the trade is executed and the broker receiving the order. Depending on price movement, ‘slippage’ may work in favour or against the trader.
To reduce the risk of ‘gapping‘ AxiTrader offer deals for Virtual Private Servers (VPS). VPS is a type of server that is split to host many virtual servers all segregated from each other. Servers are virtual because they act independently of each other. VPS systems can provide faster execution because they have the extra processing power, higher speed internet connection and are located closer to liquidity centres.
VPS deals include:
AxiTrader provides fast execution speeds and speed is suitable for the average trader. It is professional high volume traders who use robots or automation who are likely to consider the use of VPS.
easyMarkets don’t provide much information about the technology used as part of their infrastructure. As a result, it is difficult to ascertain much information about execution speeds. easyMarkets merely state they have “fast execution”. Given easyMarkets place a high emphasis on risk management tools that reduce risks associated with ‘slippage’. The need for execution speed is not critical.
The following tools help manage or alleviate the risks of slippage.
If you are an inexperienced trader then we recommend easyMarkets. easyMarkets offer several risk management tools that negate the risks associated with ‘slippage’. Experienced traders may prefer AxiTrader and the costs associated with VPS for its lower spreads and 24-hour trading availability.
easyMarkets offer a range of risk management tools not offered by AxiTrader. Below we show the differences in risk management approaches for each trader.
‘dealCancellation‘ is a feature unique that is only offered by easyMarkets. The ‘easyMarkets’ platform allows clients to buy ‘protection’ when opening a position. If price movement turns unfavourable deals within one hour of then their original trade refunded.
‘dealCancellaton’ is an excellent feature that is ideal for those ‘newbies’ to forex trading. This is because new traders may be vulnerable to losses in volatile markets due to inexperience.
(note: dealCancellation is not available on MT4 by easyMarkets platform.)
Both AxiTrader and easyMarkets offer ‘stop-loss’. A stop-loss is when a trader places an advance order to close their position when a particular losing price point is reached. If the broker cannot exit the traders’ position when the loss-making price point has been reached, traders can lose more than anticipated.
Guaranteed stop-loss is only offered by easyMarkets and is the same work the same way as a regular stop-loss. The difference is easyMarkets guarantee to close the trade at the exact trigger value. If price movement exceeds the traders’ price point once triggered then easyMarkets will pay the difference.
This is the same as ‘stop-loss’ but in reverse. easyMarkets will honour any difference if the price drops after reaching a set profit price level.
Both AxiTrader and easyMarkets use a ‘margin call close out‘ system to help safeguard clients account balance from going into negative. Clients accounts must contain a minimum level of ‘free’ margin to maintain at least one open position. That is the account must have a substantial margin in their equity in the event price movements on open trades become unfavourable. If a client does not have adequate margin then the brokers will exit the clients’ open positions. A margin call will then be made for the client top up their account.
While the use of ‘free margin’ can help manage a client’s losses. It does not mean a clients account cant go into negative in event of extreme foreign exchange volatility.
Clients will be required to pay the amount owing if AxiTrader is unable to exit the traders’ position and the account balance goes into negative.
Clients will not be required to pay the amount owing if easyMarkets is unable to exit the traders’ position and the account balance goes into negative. Instead, the client’s account balance is reset to $0.
easyMarkets has a feature called Freeze Rate. This feature allows ‘freezing’ of the bid and ask prices to give traders extra time to execute their trades. This extra second can allow traders that slight extra time to execute trades that might otherwise result in further loss.
Fixed spreads mean spread will stay stable during market volatility.
easyMarkets wealth of risk management tools and guaranteed protection provides traders with a higher level of protection than offered AxiTrader.
Besides forex, AxiTrader and easyMarkets offer a range of Contracts for Difference (CFDs).
AxiTrader offers the following
easyMarkets offer the following
easyTrader offers a wider range of CFDs for trading than offered by AxiTrader.
Both traders offer 24/5 support via phone, email and live chat, easyMarkets also offer some unique methods of contact for support such as Viber and Facebook support.
atoZforex.com named AxiTrader as the most reliable broker in 2017 as part of their industry awards. Part of this is a recognition of the excellent customer service AxiTrader offer.
Outside Australia, AxiTrader offers toll-free customer service in many other countries. These include China, Germany, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore, Spain, Thailand and the UK.
Clients receive a different level of service depending on the type of account the client has joined as shown below.
Traders who opt for a Super VIP or VIP account are provided access to a full suite of customer services. These include ‘Personal Account Manager.’ This is a handy tool for the latest in market trends, economic events and tips for investments strategies.
Both AxiTrader and easyMarkets offer excellent customer service. We recommend AxiTrader as all customer service features are available regardless of the account in use.
There is no joining bonus with AxiTrader.
All traders who make their first deposit into their account of at $100 or more can receive a ‘First Deposit’ bonus of 20%. To claim the bonus, the client needs to contact their relationship manager and quote ‘First Deposit’ bonus. Clients need to sign up to the bonus as part of the first step in the registration process.
easyMarkets also offer a reward program for bringing in new clients. The ‘Partnership Programme’ and ‘Refer a Friend’ program means clients can receive trading credit up to the amount of $2,500 for each client that is referred.
If a joining bonus is a consideration when selecting a broker then we recommend easyMarkets.
To meet ASIC regulations AxiTrader holds all funds in a segregated account through NAB.
Clients will receive withdrawals for national transfers within 1 to 2 business days. International transfers will be received in 3 to 5 business days. Deposits will only be made into bank accounts or Neteller accounts. If using then Neteller account must be in the same name as AxiTrader account.
To meet ASIC regulation easyMarkets holds all funds in a segregated account through ‘Bankwest’.
The easyMarkets minimum withdrawal account is $50USD to bank accounts. Other withdrawal methods to eWallets or credit/debit cards have no minimum withdrawal amounts. There are no fees on deposits and withdrawals although some vendors may charge fees from their end.
easyMarkets offers a greater range of funding option than AxiTrader although both offer the most common methods used by traders. Transfer times vary for each deposit/withdrawal method so the trader will need to research their preferred trading methods. Ultimately, both brokers offer some of the best forex trading platforms in 2020.
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