For standard accounts, the broker offers fixed spreads at 1.0 pips and no commissions. Pro accounts, however, have spreads starting with 0.0 pips and a 7 AUD commission for each trade. Since the FX broker has offices in London, Chisinau, Dubai, and Sydney, it is capable of offering support whenever traders require it, and this includes MT4 support.
Trading with Beeks FX VPS ensures rapid trade execution, a stable environment and high accessibility. Commissions and fees for an AxiTrader MetaTrader 4 Pro Account are set at a $7 per standard lot round turn but can be reduced depending on trade sizes, frequency and strategy. The broker AxiTrader was launched in the year 2007 in Sydney, Australia, and has advanced to become one of Australia’s largest Forex brokers. I got contact from my account manager (yeah, never had one apart from TD Ameritrade) within 30 minutes if receiving account approval. They have good plug-ins for MT4 and cool analytics tools that help you be accountable (that you should if you want to be a profesional trader). If you are still skeptical, you can start a eToro demo account and assess the credibility of the platform on your own.
Is this Broker Good for Beginners?
Average spreads are at a competitive level and fees are transparent. The broker offers some unique tools and features such as bespoke MT4 add-ons, advanced charting and trading tools such as AutoChartist and PsyQuation. Unfortunately, the selection of financial instruments, as well as deposit and withdrawal methods is quite limited and can’t compete with other major players in the industry. Even though the trading company provides a very competitive fund deposit price, the recommended min deposit is $200 for trade purposes. No fees AxiTrader charges for deposits and withdrawals done via bank transfer.
BlackBull Markets is a reliable and well-respected trading platform that provides its customers with high-quality access to a wide range of asset groups. The broker is headquartered in New Zealand which explains why it has flown under the radar for a few years but it is a great broker that is now building a global following. The BlackBull Markets site is intuitive and easy to use, making it an ideal choice for beginners. Both account types come with a 30-day Demo account option, and they both provide access to a free VPS service, to qualifying traders only. In addition to all the above, AxiTrader also offers a handful of superb trading tools, such as Autochartist, PsyQuotation and Knightsbridge Trading Academy. The latter is a service accredited by the London Stock Exchange and it features elite tutors and experts, who deliver free courses to qualifying AxiTrader clients.
What is AxiTrader?
If you would like to start trading and earn money, AxiTrader can be very useful. The 24/7 customer support team of AxiTrader is only closed on weekends when the financial market is closed, but when the Sydney market is closed, client support is provided from London and Chisinau. Client support can be reached via email, phone call, or live chat. A dedicated multi account manager is provided to all the traders operating an account.
- The company had made four different counts of brokerage violations under the regulator’s Financial Conduct Act 2013.
- In addition to bank transfer, you can use credit/debit cards, broker-to-broker transfer and several electronic wallets, as well as cryptocurrencies.
- Most trading strategies and types, such as scalping, hedging and Expert Advisors (EAs) are allowed.
- The broker also includes VPS Hosting sand the power of its PsyQuation software.
- As a reputable broker, Axitrader ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability.
With operations in Australia, the UK, and around the world, AxiTrader has a truly international flavor. Australia-based Axi is a low-cost forex broker ideal for those who need some extra tools to build their trading strategies. It has low forex fees and a great forex pair selection, compensating for a less impressive CFD lineup. You can choose from many account base currencies, which can save you conversion costs.
Execution of Speed Comparison
At the same time, it constructs educational infrastructure to train and upskill traders on new features and strategies. The trading tool offers an Order Flow Sentiment Indicator, which can potentially become the best feature for the client. Its AI-driven analysis helps the trader improve daily performances.
Despite my request to upgrade my account to their elite account since May 2022, they have not converted my account yet. They changed my account from Pro to VIP without informing me, resulting in higher spread and commission. The slippage on low volume trades, even with different order types, is very high. When I asked for proof of slippage due to price changes to the LP side, they failed to provide any evidence.
In this review, we will tackle the company itself (AxiTrader), its platforms, services it offers and etc. As mentioned in the fees section, with the pro account you have much lower spreads than the standard account although you do have to pay lot commission. With the pro account you also can trade with up to 400x leverage. Its trading conditions are decent, its trading platforms are superb and the fact that it does not require a minimum deposit makes the whole package accessible to all comers. AxiTrader further offers a few interesting VPS service options, which are especially beneficial to high-frequency traders or those who use automated trading strategies. At this point it should be highlighted once again that trading CFDs poses a high risk to any retail investor’s capital and most retail investor accounts lose money with margin or CFD trades.
Axitrader Commission Fees
Now I am passionate about reviewing and comparing forex brokers. We waited for 1-8 minutes before being connected to the customer service team via the live chat function. You can run most types of trading strategies as the broker allows high-risk strategies such as hedging and scalping. The main difference with Islamic accounts is that instead of daily swap rates, there is an administration fee charged if you hold positions for more than 3 nights. Looking at the spreads charged in our trades, we found that they were all lower than industry benchmarks.
Instead, spreads are being marked up by 1 pip above the inter-bank rates received from AxiTrader’s liquidity providers. I have been with AXI for two years and my experience has been nothing but awesome. MPESA deposit for those in Kenya is amazing, withdrawals are fast , fast order execution and a friendly customer care team ….
It lets you place a number of orders in bulk, with speed, into an unlimited number of accounts or multiple accounts. It allows you to control an unlimited number of managed accounts from one trade terminal. AxiTrader has invested greatly with these MT4 platforms to MT4 servers to ensure that the MAM solution provides the fast and reliable service account managers need to service their clients. With Axi, you can trade CFDs online and access a wide range of markets, including Forex, CFDs on shares, indices, commodities, precious metals, and more. Axi is a top global broker trusted by thousands of customers in 100+ countries for its innovative, customer-focused approach and competitive fees and spreads.
- The broker is licensed by top-tier regulators ensuring clients’ safety and compensation in case of insolvency.
- You can access 140+ currency pairs for forex markets, a $0 minimum deposit, and fast execution with award-winning customer support all from one location through MT4.
- What’s best about trading with Axi is that it has no minimum deposit requirements, you are free to deposit any amount.
- Is the platform easy to understand and optimized for mobile devices?
If you want to trade currency pairs on global Forex markets, Axitrader offer over 100 currency pairs. Brokers like Axitrader must disclose any inactivity fees as part https://forex-review.net/axitrader-review-scam-or-legit/ of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.
They recommend it for its rewarding trading environment, smooth browsing experience, and user friendly dispute resolution process. Any payments funded to Axitrader accounts by traders are held in a segregated bank account. Tier 1 is the official measure of a bank’s financial health and strength.Trading with Axitrader is risky, and because the market is so volatile, losses could happen at any time.
As a customer, you can enjoy a seamless and user-friendly experience with AxiTrader. The platform is easy to navigate and offers a wide range of financial instruments, including 80+ currency pairs, bullion, metals, and commodities. You can trade on popular currency pairs like AUD/CAD, EUR/CHF, and USD/ZAR, as well as cryptocurrency CFDs and indices. The registration process is quick and straightforward, and you can choose between the MT4 Standard Account or the MT4 Pro Account.