Unique Selling Points
These include:
Best Forex broker for novice traders
Multiple Deposit and Withdrawal Options: AxiTrader offers many deposit and withdrawal options, from bank transfers to e-wallets and cryptocurrencies. AxiTrader does not charge fees for withdrawals and deposits.
Multilingual support: Clients can get support from English and many other languages, such as Japanese, Chinese, Russian, Spanish, and German. Multilingual support is available 24/5 for English and during business hours for other languages.
Educational resources: Beginners and casual traders looking to brush up their trading knowledge can use the comprehensive educational resources that AxiTrader offers. These include video tutorials on MT4, seminars and webinars, a trading academy, free ebooks, blog articles, and a crypto glossary.
Introduction
AxiTrader is an online forex and CFD broker with offices in multiple regions worldwide. The company is regulated in Australia, New Zealand, and other jurisdictions. They offer a collection of trading instruments in Forex and CFD markets with thousands of clients and partner with many organizations, such as London & Eastern LLP, to provide trading tools and services.
Furthermore, Axitrader provides tailored trading services to different jurisdictions to better serve their clients and comply with local financial laws with support for the popular MetaTrader 4 trading platform.
With this broker, you get competitive spreads, zero commissions on certain account types, and up to 500:1 leverage. This AxiTrader broker review further explains all you need to know about this broker.
Supported Countries
AxiTrader supports over 100 countries and provides support in multiple languages. However, certain limitations exist on the jurisdiction eligible for the broker's trading services. According to the broker's website. They do not accept clients from countries that are marked as high-risk or where trading is not permitted.
There is no official list of the countries the broker does not support. A review of the company policy shows that they are working hard to provide their trading services to traders from all countries. For instance, the broker did not offer their trading services to residents of Congo and Central African Republics, but they do currently. As such, you should check the company policy to see what countries they support at the time of your registration.
Customer Service Rating
AxiTrader is rated "Great" with a 4.0 rating based on 1,301 ratings on Trustpilot. There is a lot of goodwill and positivity in the replies. The broker's representatives also visibly respond to negative comments and offer assistance.
The reviews show that most customers are satisfied with the broker's services. The negative reviews focused on withdrawal issues and rollover fees. However, these issues are easily resolvable by the support team.
AxiTrader Trading Platforms
AxiTrader offers the MetaTrader 4 trading platform for both desktop and mobile devices. The broker also offers other trading tools for an enhanced trading experience. We'll explore the features of the MT4 platform and other trading tools and features in this section
MetaTrader 4: The MetaTrader 4 platform is available for live and demo trading accounts. It offers full access to all AxiTrader trading instruments and supports other features, such as algorithmic and copy trading. It is a simple-to-use platform that is downloadable on mobile and desktop devices. Its functions and tools include custom indicators, price alerts, charts, and analysis tools. The PC and Mac versions offer high performance and a full suite of features, while the Android and iOS versions offer all the major features with flexibility and convenience.
MT4 WebTrader: The MT4 WebTrader is a version of the MT4 trading platform that can be accessed via a browser. It is the best option for traders who want to use MT4 without downloading it on their devices. This version offers full features and comprehensive functionality and is accessible via any internet browser.
Axi Copy Trading: The Axi Copy Trading app offers a simple way to automatically copy the trades of successful traders. It is perfect for clients who want to benefit from trading without having to watch the market or set up entry levels. The app is available on the Apple Store and Google Play Store.
Myfxbook Autotrade: The Myfxbook Autotrade application is a 3rd-party technology application that connects with your forex trading account through the MT4 trading application. It allows you to manage all your trading systems and accounts from one interface. You can also use it to share your trading performance with others who may want to copy your trades. The app is available for all clients.
Type of Trading Accounts on AxiTrader
AxiTrader offers three types of accounts: Standard, Pro, and Elite. They also offer swap-free accounts.
Standard Account: The basic account is a standard account. This account is commission-free, but it attracts spreads starting from 0.4 pips. The maximum trade size is 0.01 lots making it ideal for low-badge traders. There is no minimum deposit, and you can access over 140+ currency pairs and CFDs. The leverage goes up to 500:1 but can be lower depending on your location. For instance, Australian traders can only access up to 30:1 leverage on the started account. The account is denominated in AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD. It has full EA compatibility and offers Autocharist, VPS, and myfxbook Autotrade for free.
Pro Account: The pro account shares similarities with the standard account. The key difference is that it attracts $7 as a commission but has low spreads starting from 0.0 pips. Aside from that, all the conditions of the Standard account apply to the Pro account.
Elite Account: The Elite account is designed for wholesale and professional clients only. It has a minimum deposit requirement of $25,000 and attracts a $3.50 commission. Spreads start from as low as 0.0 pips. It offers higher leverage that goes up to 500:1 leverage for international traders and 400:1 in many jurisdictions.
Islamic Account: Axi offers a trading account tailored to Islamic traders. It has no swap fees or interest payments, making it ideal for those who cannot earn or pay interest due to religious beliefs. To open an Islamic account, contact the Client Services team, and they will help you through the process. Note that approval to open an Islamic trading account is the sole discretion of Axi. Upon approval, you will get details on the account's interest-free nature and general conditions. The broker may also monitor the account to ensure it is being used in good faith and for the purposes intended and contact you directly if they suspect any irregularities.
Trading Denominations on AxiTrader
There are 10 distinct base currencies in which AxiTrader broker accounts can be denominated. These denominations are AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, and USD. These denominations are only available on the Standard and Pro accounts. Clients using the Elite account are limited to four denominations: USD, EUR, GBP, and AUD.
Company Structure
Axi (AxiTrader) is a registered trading name of AxiTrader Limited. The company (AxiTrader Limited) is a member of the Axi Group and is incorporated in St Vincent and the Grenadines, number 25417 BC 2019, by the Registrar of International Business Companies. It is also registered by the Financial Services Authority in St Vincent and the Grenadines.
The Axi Group also owns other subsidiaries such as AxiCorp Financial Services Pty Ltd, a company incorporated in Australia (ACN 127 606 348), and Axi Financial Services (UK registered in the United Kingdom.
The company has its headquarters in Australia and maintains offices in regions worldwide, such as St Vincent and the Grenadines and New Zealand.
On many AxiTrader broker reviews, the broker ranks as one of the best forex brokers with low minimum deposit requirements.
AxiTrader Licenses and Regulatory Compliance
The AxiTrader Group holds licenses in multiple regions of the world. These licenses allow it to offer trading services in over 100 countries.
AxiCorp Financial Services Pty Ltd (AxiCorp) (ACN 127 606 348) is authorized and regulated by the Australian Securities & Investments Commission (ASIC) with the registration number 318232.
AFSPL also holds a Derivatives issuer licence in New Zealand, with FSP 518226.
AxiCorp Financial Services Pty Ltd is authorized and regulated by the Dubai Financial Services Authority (DFSA) with the number F003742.
Axi Financial Services (UK) is authorized and regulated by the Financial Conduct Authority (FCA), with Firm Reference Number 466201.
AxiTrader Customer Protection
AxiTrader is subject to the Financial Commission, the body resolving financial market disputes. As a member, the broker is subject to the Compensation Fund, which serves as insurance for its clients. A client may receive up to €20,000 per client if the broker does not comply with any Financial Commission judgment favoring the client.
The Compensation Fund does not cover Australian and New Zealand residents, but they have the added protection of negative balance protection. Hence, a trader from Australia or New Zealand can not lose funds that exceed the amount of money invested with the broker.
Trading Information
AxiTrader broke over 100 tradable instruments that cut across currency pairs and CFDs on various assets.
Tradable Instruments
Tradable instruments on AxiTrader trading platforms include
70+ FX currency pairs
100+ Stock CFDs
10+ Commodity CFDs
30+ Cryptocurrencies CFDs
30+ index CFDs
AxiTrader Leverage
AxiTrader's standard leverage is 1:500, depending on your location and the trading account you sign up for. International clients can access up to 500:1 on all account types. Australian traders are limited to 30:1 on the Standard and Pro accounts. However, with the Elite account, they can access up to 400:1 leverage.
Deposits and Withdrawals on AxiTrader
Deposits
AxiTrade offers many payment options for deposits. However, not all payment options are available in all countries. You can find payment options available to you from the Secure Client Portal.
Note that Axi does not allow third-party payment. All payments into your account must be from accounts in your name. The broker accepts payment from joint accounts if you are one of the parties to the joint account. Axi does not charge deposit fees, but the payment processor or bank may charge you fees.
Payment Method | Currencies | Processing Time | Minimum Deposit |
Credit/Debit Card | AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD | Instant | 5 USD |
POLi | AUD | Instant | 5 AUD |
Bank Transfers | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD | 1-3 days | N/A |
FasaPay | IDR, USD | Instant | 5 USD |
Neteller | CAD, EUR, GBP, PLN, USD | Instant | 5 USD |
Crypto | BTC, ETH, LTC, XRP, XLM, USDT | Up to 15 mins | 30 USD |
Skrill | AED, CAD, EUR, GBP, INR, USD | Instant | 5 EUR |
Boleto | BRL | Up to 12 hrs | 50 BRL |
Brazil Internet Banking (TED) | BRL | Up to 12 hrs | 50 BRL |
Chinese Internet Banking | CNY | Instant | 1,500 CNY |
Thailand Internet Banking | THB | Instant | 500 THB |
Vietnamese Internet Banking | VND | Instant | 22,000 VND |
Indonesian Internet Banking | IDR | Instant | 200,000 IDR |
Polish Internet Banking | PLN | Instant | 1 PLN |
Hong Kong Internet Banking | HKD | Instant | 30 HKD |
Malaysian Internet Banking | MYR | Instant | 50 MYR |
Philippines Internet Banking | PHP | Instant | 2,500 PHP |
South African Internet Banking | ZAR | Instant | 100 ZAR |
Nigerian Internet Banking | NGN | Instant | 4,000 NGN |
Kenyan Internet Banking & MPESA | KES | Instant | 1,000 KES |
Cambodian Internet Banking | USD | Up to 8 hrs | 25 USD |
Laos QR Payments | LAK | Up to 8 hrs | 200,000 LAK |
Myanmar QR Payments | MMK | Up to 8 hrs | 50,000 MMK |
AstroPay | USD | Instant | 5 USD |
*Please note that Internet banking, crypto, and many other funding options are not available in all countries.
Withdrawals
Axi processes all withdrawal requests within 1-2 business days upon receipt. However, it can take longer for the funds to be transferred into your receiving account.
As for deposits, the broker does not allow third-party remittances. All withdrawal requests must be made to an account in the same name as your Axi account. You may need to provide information such as Proof of Identity and Proof of Source of Funds for some types of withdrawals.
Payment Method | Currencies | Minimum Withdrawal | Withdrawal time |
Credit/Debit Card | AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD | N/A | N/A |
POLi | AUD | N/A | N/A |
Bank Transfers | AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD | 50 USD | 1-3 days |
FasaPay | IDR, USD | 5 USD | 1-3 days |
Neteller | CAD, EUR, GBP, PLN, USD | 5 USD | 1-3 days |
Crypto | BTC, ETH, LTC, XRP, XLM, USDT | 30 USD | 1 - 3 days |
Skrill | AED, CAD, EUR, GBP, INR, USD | 5 USD | 1-3 days |
Boleto | BRL | N/A | N/A |
Brazil Internet Banking (TED) | BRL | 50 BRL | 1-3 days |
Chinese Internet Banking | CNY | 500 CNY | 1-3 days |
Thailand Internet Banking | THB | 100 THB | 1-3 days |
Vietnamese Internet Banking | VND | 22,000 VND | 1-3 days |
Indonesian Internet Banking | IDR | 200,000 IDR | 1-3 days |
Polish Internet Banking | PLN | 1 PLN | 1-3 days |
Hong Kong Internet Banking | HKD | N/A | N/A |
Malaysian Internet Banking | MYR | 50 MYR | 1-3 days |
Philippines Internet Banking | PHP | 2,500 PHP | 1-3 days |
South African Internet Banking | ZAR | 100 ZAR | 1-3 days |
Nigerian Internet Banking | NGN | 3,000 NGN | 1-3 days |
Kenyan Internet Banking & MPESA | KES | 50 KES | 1-3 days |
Cambodian Internet Banking | USD | 25 USD | 1-3 days |
Laos QR Payments | LAK | 200,00 LAK | 1-3 days |
Myanmar QR Payments | MMK | 50,000 MMK | 1-3 days |
AstroPay | USD | 5 USD | 1-3 days |
*Please note that Internet banking, crypto, and many other withdrawal options are not available in all countries.
AxiTrader Trading Education and Training
AxiTrader offers a variety of educational resources to help novice, casual, and experienced traders. These resources include:
MT4 Video Tutorials: Axi offers step-by-step instructional videos on how to use the MetaTrader 4 trading platform for beginners. The video tutorials include guides on installing the platform, using the basic functions, opening trades, and setting up backtesting.
Free eBooks: Axi range of free trading and forex ebooks cover fundamentals of Forex, different trading strategies, expert trading tips, and all the basic concepts you need to know about trading.
Axi Blog: The blog contains insightful and well-researched articles on trading and global market news. Subject topics include trading education, blockchain information, insights on shares and shares trading, and company news.
Axi Academy: The Axi Academy is a platform that features comprehensive trading courses designed by traders, for traders, to ensure you gain the essential knowledge and skills you need to be successful in the markets. All the courses are available for free anywhere in the world. The courses focus on four key areas: forex, gold, cryptocurrency, and shares trading.
Crypto Glossary: The Crypto Terms Glossary provides brief, accurate insight and explanation on the most important crypto terminology to help you fully understand and harness the blockchain markets.
FAQs
Is AxiTrader a Scam?
No. AxiTrader is a global financial trading services brand with licenses and registration in major global financial hubs, such as the UK, Australia, and Dubai. It also complies with the Financial Commission and Euro trading laws.
Does AxiTrader accept US residents?
No. At the time of writing this review, AxTrader does not accept US residents. Residents of US territories such as American Samoa, Guam, Northern Mariana Island, Puerto Rico, and the U.S. Virgin Islands have to complete and sign a W-9 Form.
How do I open an AxiTrader Forex trading account?
Visit AxiTrader and select "Open account" from the menu at the top of the page.
Conclusion
AxiTrader is an industry-leading online trading with thousands of trading clients worldwide. They offer competitive spreads, fee-less deposits and withdrawals, advanced tools, and support for the popular MetaTrader 4 trading platform. They also offer customer support in multiple languages.
Although their tradable instruments are limited to Forex and CFDs, they offer many trading options across financial markets such as cryptocurrency, currency pairs, and commodities. They are licensed and regulated in multiple jurisdictions. However, due to differences in local financial laws, the services they offer differ based on location. Ensure you do your research to find out the services that AxiTrader offers to traders from your country of residence.
