Both AxiTrader and easyMarkets are fx brokers offering strong customer support and the MT4 platform with easyMarkets offering fixed spreads from 1.8 pips and a minimum deposit of $100 while AxiTrader has variable spreads from 0.0 pips and a $0 deposit minimum.
1. Low spreads through their Pro Account 2. Medium-High leverage of 400:1 3. Enhanced MT4 Trading with NexGen 4. Award-Winning Customer Service 5. No Minimum Deposits
1. Range of Risk Management Tools (including dealCancellationand guaranteed stop loss) 2. Low Margin, Zero Spreads + $0 commission 3. Fixed Spreads (no slippage risks) 4. Choice of easy-to-use forex trading platform 5. Personal Account Service Manager and Personal Analyst
Weaknesses
3. Lack of Trading Platform options 4. Leverage is 400:1 5. Not an ECN trader
1. Lower Leverage (compared to industry benchmark) 2. Key Features offered on easyMarkets platform not offered on MT4 platform 3. Free Trade simulator only available for 8 days 4. No Stock/Share Market options
Spreads + Commissions
Spread Value
9.0
Commission Value
8.5
Spread Value
9.2
Commission Value
9.9
Forex Trading Platform
1. MetaTrader 4 with MT NexGen
1. easyMarkets (custom platform) 2. MT4 by easyMarkets
1) Live Chat is available (24/5) 2) Telephone Support (24/5) 3) Email
1. 24/5 Toll Free Phone support for Australia and and International 2. Live Chat 3. Facebook Messenger 4. Viber 5. Email
Bonus Programs
No Joining Bonus offered
Receive 20% or up to a $2000 tradable bonus based on your first deposit.
Funding Methods
1. Debit and Credit Cards (Visa, Mastercard, Maestro, JCB) 2. Neteller 3. Skrill/Moneybookers 4. Global Collect 5. BPAY 6. China Union Pay (only for Chinese residents) 7. Bank Transfer 8. Broker to Broker Transfer
1. MasterCard, Visa (excluding China), AMEX, JCB (only Europe) 2. SOFORT (Germany, Austria, Begum, Netherlands, United Kindom) 3. giropay (Germany only) 4. Ideal (Netherlands online) 5. Local Bank Transfer with Ingenico 6. WebMoney (all countries excluding Europe and APAC) 7, BPay (APAC only) 8. Neteller 9. Skrill 10. fasapay (Indonesia only) 11. UnionPay (China only) 12. Bank Wire Transfer
Reviews
Trustpilot 3 out of 5 Stars - 3 reviews
Trustpilot 5 out of 5 stars - 450 reviews
Recommended For
1. Beginner traders as it has realistic demo account 2. Discretionary traders needing low deposits 3. Traders needing award winning customer support
1. Traders that wish to minimise risks 2. Traders that want fixed spreads and don't want 'slippage' risks 3. Traders that desire a personal account manager
1. Beginner traders as it has realistic demo account 2. Discretionary traders needing low deposits 3. Traders needing award winning customer support
1. Traders that wish to minimise risks 2. Traders that want fixed spreads and don't want 'slippage' risks 3. Traders that desire a personal account manager
Spreads + Commissions
Spread Value
9.0
Commission Value
8.5
Spread Value
9.2
Commission Value
9.9
Execution Speeds
Trading Speed
8.5
Trading Speed
10
MetaTrader
cTrader
ECN Trading Account
Deal Cancellation
Guaranteed Stop Loss
Guaranteed Negative Balance Protection
No Fees On Deposits + Withdrawals
Stockbroking Services
MetaTrader
cTrader
ECN Trading Account
Deal Cancellation
Guaranteed Stop Loss
Guaranteed Negative Balance Protection
No Fees On Deposits + Withdrawals
Stockbroking Services
AxiTrader vs easyMarkets Spreads, Fees
In our broker comparison we compared AxiTrader vs easyMarkets forex traders we found spreads are significantly higher for easyMarkets.
Average Spreads (pips)
EUR/USD
AUD/USD
GBP/USD
AxiTrader
0.9
0.64
1.39
easyMarkets
1.2
1.6
1.9
easyMarkets higher spreads are due to a number of factors. These include AxiTrader is an ECN Broker while easyMarkets are a market maker broker
AxiTrader offer variable spreads while
easyMarkets offer fixed spreads
easyMarkets offer a greater range of risk management tools when compared with AxiTrader. These are ‘indirectly’ paid for through wider spreads.
easyMarkets do not charge commissions while AxiTrader charges commission of $3.5 for each swap
AxiTrader Pro Account
‘Pro’ Account is an ECN account
Just $3.5 AUD commission for each 100k traded (on MT4)
smallest / largest trade size of 0.01 / 100 lots.
minimum deposit $0.
Leverage ratio of 400 to 1.
Expert Advisors (EAs)
MT4 Platform + NexGen
No Account Fees
Variable Spreads
AxiTrader is a broker that uses 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)
easyMarkets Super VIP / VIP / Premium / Standard
minimum / maximum trade size of lots negotiable otherwise 0.01 / 100 lots
No Commission
minimum deposit Super VIP $50,000 / VIP $10,000 / Premium $3000 / Standard $200
Leverage of 400 to 1
No Account fees
Expert Advisors (EAs) – only if using MT4 Platform. Not available on easyMarkets platform.
easyMarkets is a market maker broker. This means they quote bid price and askl prices of liquidity for which they will buy or sell. In this sense easyMarkets ‘make their own market’.
As a ‘dealing desk’ broker, easyMarkets have a number of features that make it distinct from AxiTrader. easyMarkets quote their own prices rather than use 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 therefore be wider than offered by AxiTrader.
Spreads offered by easyMarkets are fixed. This means spreads generally 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.
easyMarkets offer 4 types of accounts, these are Standard, Premium and VIP and Super VIP. All are very similar, the main difference of note is accounts with lower deposits and wider spreads. It is for this reason, we only advise considering VIP or Super VIP.
Trading Spreads And Commission Conclusion
AxiTrader is our recommended broker as they offer tighter spreads with lower deposits than even the best value easyMarkets accounts. The trade off for lower spreads is that AxiTrader charge commission.
AxiTrader vs easyMarkets Forex Trading Platforms
Both AxiTrader and easyMarkets offer MetaTrader 4 (MT4) however easyMarkets call their platform MT4 by easyMarkets. easyMarkets also offer their own proprietary platform which has a number of features not available on MT4.
MetaTrader 4 (MT4)
MT4 really is the platform that is most popular among traders. This is because it is world’s most popular platform and offers all the main features traders of all type will need.
AxiTrader MT4 Added Options
NexGen is a free enhancement tool that offers additional features. These features will be useful for beginner and advanced traders. Some features are namely:
Advanced order management tools integrated directly into charts and tables to help with money management and when to execute trades.
Sentiment Indicator provides insight into live market trends by traders to see how others are trading.
Session Map which is an interactive map that shows opening and closing times for different markets around the world.
Forex news & Twitter feeds to keep traders abreast of all the latest news events and follow other traders on social networks.
NexGen is a really useful feature as the range of tools can greatly assists traders when making trade decision and then executing them.
The EasyMarkets Forex Trading Platforms
In addition to MetaTrader 4, easyMarkets offer their own proprietary platform ‘easyMarkets’ which contains the following unique features.
dealCancellation (discussed in risk management)
No Slippage (discussed in risk management)
Guaranteed pending orders
Trade all FX and CFD products
Trade forward deals
Inside Viewer
MetaTrader 4 has one noticeable features not offered by easyMarkets platform. Expert Advisors (EAs) is a type of software or tool that can automate trading strategies on traders behalf through 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 a number of risk management features that make it ideal of inexperienced or risk averse traders.
Forex Trading Platforms Conclusion
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.
AxiTrader and easyMarkets Execution Speeds
Neither AxiTrader or easyMarkets provide in-depth information about their hardware infrastructure and execution speeds. While both offer ‘fast execution’ each brokers 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 actually paid. Differences in price occurs because due to the lag that occurs between the time the trade is executed and broker receiving the order. Depending on price movement, ‘slippage’ may work in favour or against the trader.
AxiTrader
To reduce the risk of ‘gapping‘ AxiTrader offer deals for Virtual Private Servers (VPS). VPS is a type of server which is located on the same computer as many other virtual private servers. Servers are virtual because they act independently of each other. VPS systems can provide faster execution because they have extra processing power, higher speed internet connection and are located closer to liquidity centres.
VPS deals include:
ForexVPS offer credit of up to $34.99 of the monthly forex fee if 20 lots are traded in one month.
Metatrader VPS -$10 per month.
Commercial Network Services offer credit of up to $35 of the monthly CNS fee if more than 20 lots in a calendar month is traded.
BeekSFX – extra 256mb memory plus 30% discount for your first month subscription.
AxiTrader provides fast execution speeds and speed is suitable for the average trader. It is mostly professional high volume traders who use robots or automation that may wish to consider the use of VPS.
easyTrader
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.
Freeze Rate– removes slippage risks by allowing a small amount of extra time to trade at advertised rate. This occurs regardless if real-time rate has moved. easyMarkets Risk Management features
Fixed Spreads – Fixed spreads mean spread will stay stable during market volatility and ‘final’ prices are always transparent.
Guaranteed Stop Loss/Take Profit– Traders can define the maximum amount they are prepared to lose or gain when market conditions change. If price reaches this position then and broker will close their position and cover any difference.
Negative Balance Protection – Controls are in place to ensure client do not lose more than their investment due to ‘slippage’.
AxiTrader vs easyMarkets Execution Conclusion
If you are an inexperienced trader then we recommend easyMarkets. easyMarkets offer a number of 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.
AxiTrader vs easyMarkets Leverage
Leverage is the amount of money the broker will lend you to get into trade. Both AxiTrader and easyMarkets will lend you 1:400. This means for each $1 you have deposited into your account, they will lend you $400. A Higher deposit and leverage means more money available for trade meaning more can be earned if price movement is favourable.
AxiTrader vs easyMarkets Leverage Conclusion
Both AxiTrader and easyMarkets offer the same leverage so we can’t make a recommendation for this section.
AxiTrader vs easyMarkets Risk Management
easyMarkets offer a range of risk management tools not offered by AxiTrader. Below we show the differences in risk management approaches for each trader.
1. dealCancellation with easyMarkets
‘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.)
2. Stop Loss with AxiTrader vs Guaranteed Stop Loss with easyMarkets
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 lost more than anticipated.
Guaranteed stop-loss is only offered by easyMarkets and is the same work the same was 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.
3. Guaranteed Take Profit with easyMarkets
This is the same as ‘stop loss’ but in reverse. easyMarkets will honour any difference if price drops after reaching set profit price level.
4. Minimum Balance Protection with AxiTrader vs Guaranteed Negative Balance Protection easyMarkets
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 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 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.
AxiTrader and Negative Balance Protection.
Clients will be required to pay amount owing if AxiTrader is unable to exit the traders position and the account balance goes into negative.
easyMarkets and Guaranteed Negative Balance Protection.
Clients will not be required to pay 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.
5. Freeze Rate with easyMarkets
easyMarkets has a feature called Freeze Rate. This feature allows ‘freezing’ of the bid and ask price to give traders a extra time to execute trade. This extra second can allow traders that slight extra time to execute trade that might other result in further loss.
6. Fixed Spreads with easyMarkets
Fixed spreads mean spread will stay stable during market volatility.
AxiTrader vs easyMarkets Risk Management Conclusion
easyMarkets wealth of risk management tools and guaranteed protection provides traders with a higher level of protection than offered AxiTrader.
AxiTrader vs easyMarkets Other CFDS (e.g. Cryptocurrencies)
Besides forex, AxiTrader and easyMarkets offer a range of Contracts for Difference (CFDs).
easyTrader offers a wider range of CFDs for trading than offered by AxiTrader.
AxiTrader vs easyMarkets Customer Service
Both Traders offer 24/5 support via phone, email and live chat. easyMarkets however offer some additional services including Viber and Facebook support.
AxiTrader
atoZforex.com named AxiTrader as the most reliable broker in 2017 as part of their industry awards. Part of this is recognition of the excellent customer service AxiTrader offer.
Outside Australia, AxiTrader offer toll free customer service in many other countries. These include China, Germany, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore, Spain, Thailand and the UK.
easyMarkets
Clients receive 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.
AxiTrader vs easyMarkets Customer Service Conclusion
Both AxiTrader and easyMarkets offer excellent customer service. We recommend AxiTrader as all customer service features are available regardless of the account in use.
AxiTrader vs easyMarkets Joining Bonus
There is no joining bonus with AxiTrader.
easyMarkets
All traders who make a first deposit of at least $100 can receive a ‘First deposit’ bonus of 20%. To claim the bonus, the client need 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.
AxiTrader vs easyMarkets Conclusion – Joining Bonus
If a joining bonus is a consideration when selecting a broker then we recommend easyMarkets.
AxiTrader vs easyMarkets Deposits & Withdrawals
AxiTrader
To meet ASIC regulations AxiTrader hold 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 made into bank accounts or Neteller accounts. If using then Neteller account must be in same name as AxiTrader account.
easyMarkets
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 their own fees which are worth investigating.
AxiTrader vs easyMarkets Deposits and Withdrawals Summary
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 trader will need to research their preferred trading methods. Ultimately, both brokers offer some of the best forex trading platforms in 2019.
