Reading reviews of forex brokers can sometimes be fruitless This is especially true when it does not distinguish objective reviews from the narratives of disgruntled clients. To know how a particular forex broker is doing in the industry, you must develop a special skill to find good resources or literature to help you decide which path to take.
This brief will serve as a review of AxiTrader, which will give you important information about its features and services, as well as the considerations you should consider before deciding to log in to AxiTrader. Let's start exploring the basic information of the AxiTrader agent.
History of AxiTrader
AxiTrader is a Sydney-based company established in 2007. Now known as a global forex broker, AxiTrader is proud to be one of the few brokerage sites that has reached the $100 billion trading volume brand throughout its clients worldwide (thanks to its links to different financial companies).
AxiTrader failed to accomplish this feat overnight, as it began in Australia. In 2012, it expanded its operations in the UNITED Kingdom, then in China, after three years. A year later, AxiTrader opened its offices in the Middle East, Germany and parts of South America. AxiTrader Canada is now a work in progress. The trademark of AxiTrader is its MetaTrader platform that comes with a premium version. It also offers a basket full of marketable assets in commodities, currencies, indices and cryptocurrencies.
Now that we know something about AxiTrade, let's look at your regulatory affiliations to determine whether it is safe to entrust our business capital to your commercial custody.
AxiTrader Regulatory Credentials
One of the main considerations for which traders choose to open an account to a broker are the broker's regulatory credentials. AxiTrader is a legal broker, as it is authorized and certified by various financial authorities around the world.
Although AxiTrader is not linked to a bank to use as an intermediary and public traders cannot access it, the Australian Securities and Investment Agency (ASIC) oversees the broker. Its operation in London is approved and supervised by the Financial Conduct Authority (FCA), while its site in the Middle East is under the Dubai Financial Service Authority (DFSA).
These leading international financial authorities guarantee traders that Axitrader's regulation is robust and that the service provider is a secure brokerage entity.
AxiTrader Features and Rates
Choosing AxiTrader as your trading partner not only guarantees the security of funds, but also means having access to your various trading baskets that feature 80 currency pairs, 65 CFDs and Crypto trading in CFDs.
Unlike other brokers, AxiTrader does not fine its users for account inactivity and charges low trading fees. It also does not charge its clients fees for AxiTrader deposit and withdrawal transactions. AxiTrader also displays competitive spreads for your trading accounts. AxiTrader account types include Standard and Pro. But in terms of account ownership, AxiTrader has three other account types classified as individual account, joint account and corporate account.
We were surprised that opening an account with Axitrade through Standard or Pro does not cost users any amount. The minimum deposit of Axitrader is zero (dollar). The standard account has a higher spread, while the Pro account has a lower spread. UK-based traders can open the AxiTrader special account called Spread Beating account, which is a tax-free account.
Now consider the deposit methods of AxiTrader. Bank transfers, credit and debit cards, and e-wallets are the means that users can see when depositing money into their business accounts. However, the use of cards is not part of the withdrawal options. There are several other options for withdrawing funds for account users, and all of them do not charge fees.
AxiTrader platforms and tools
What else does AxiTrader offer to the table? Let's look at your trading platforms and tools.
AxiTrader features MetaTrader platforms. The MetaTrader can be customized, clearly reported rates, jave order confirmation notifications, and is available in many languages as it caters to several countries around the world.
If we look at the disadvantages of the available platforms, the basic interface and design should be updated. Platforms also lack pricing alerts and authentication features at login. In addition to the MetaTrader 4 that comes in the web, desktop and mobile versions, AxiTrader does not have its own trading platform.
AxiTrader's MT4 mobile platform is a good choice. It can be downloaded using Android and iOS devices. When downloaded, the platform will require you to access a particular AxiTrader server. Alerts and notifications on the mobile platform are not part of the features and functions available.
The MetaTrader platform features basic trading tools, including economic calendar, market news and charting tools. However, no more advanced commercial research resources are found anywhere. The indicator tools are not too many, and most of them have obsolete designs. The Forex Market News feature was only found on UK and Australian sites.
Reviewing broker Customer Service, AxiTrader is available on various channels such as live chat, phone support and email. Unfortunately, AxiTrader's customer support is not 24/7.
AxiTrader in a nutshell
AxiTrader is a safe broker, affiliated with major financial regulatory institutions and has heavy traffic in the volume of monthly trades, which means a strong and active trading service for legions of brokers.
On the plus side, AxiTrader is advantageous when opening a trading account because you don't have to worry about a minimum deposit amount and deposit and withdrawal transactions at no charge. They also do not charge users an inactive fee.
