AxiTrader Review
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Broker Type: STP
Regulation: ASIC
Established: 2007
Headquarter: Australia
Forex broker reviewed: AxiTrader
AxiTrader is an Australian broker which is providing forex services since 2007. Over the years, they’ve been developing good reputation with their responsive and helpful customer support. Here is a detailed review about AxiTrader.
Pros and cons
Pros
1. Trading platform is MT4 which is a big plus.
2. Maximum leverage offered is 1:400.
3. They offer trading platforms for many devices including mobile phones and web.
4. AxiTrader is famous for its proactive customer services. Whether its live chat, email or over the phone, they will give you their best.
5. Regulated broker
6. Segregated account
Cons
1. US clients are not accepted.
2. Don’t offer Islamic accounts.
AxiTrader Review – Salient Features
Spread
AxiTrader offers variable spreads for each currency pair.
Leverage
Normal leverage offered to traders is 1:200, however approved clients can get leverage up to 1:400. Leverage of 1:400 is a very good one and is usually not offered by many brokers.
Commission
AxiTrader charge no commission of any sort to any client.
Minimum deposit requirement
The minimum deposit required for an individual account is $200. However to open a company account, you may have to pay higher deposits. Clients funds are keep in segregated account, thus protected from broker’s bankruptcy.
Strategies (Hedging, Scalping, Forex robot, swap-free Islamic Account)
You can use all types of scalping and hedging strategies. While most of the other brokers do not allow forex robots, AxiTrader will allow you to use forex robots. They are not offering Islamic accounts.
Trading platforms
They offer MT4 as their trading platform. You can not only use their trading platform on your pc but you can also use it on your iphone, blackberry, ipad, web trader and Andriod. Hence you can easily stay connected 24/7.
Citizenship
AxiTrader accept citizens of most of the countries but at this moment, they don’t accept US clients.
Instruments
AxiTrader offers a wide range of instruments including forex with 28 currency pairs, indices, CFD, futures, options, commodities including gold, silver and oil. This makes it a good option for everyone.
Regulation
Regulated by ASIC; follow this link to confirm: http://www.search.asic.gov.au/cgi-bin/gfs010c?origin=flb&licence_no=318232&role_type=FB&cond_sdate=&cond_stime=&rep_no=%20&a7=&a8=&a9=&a10=&a11=&a12=&a13=&start_date=
Execution
Market execution is offered by AxiTrader. They also offer stop loss and limit order services to their clients.
AxiTrader Review – Conclusion
AxiTrader is a good broker providing lots of services to its varied clients. AxiTrader is good at providing personalized customer services via phone or email. Besides so many benefits, there are a couple of drawbacks as well. AxiTrader doesn’t accept US clients and they neither offer Islamic accounts. Summing up, AxiTrader is a reliable and registered Australian broker with a good list of advantages for its clients.
