AxiTrader Review 2023 Updated :Is Axi Trustworthy and Legit?

Verify your identity and residency by uploading either a copy of your ID card, driver’s license or passport, and uploading a copy of a recent utility bill or bank statement. If you were at all concerned about the legitimacy of AxiTrader, you don’t need to be. AxiTrader has obtained their brokerage license from the Australian Financial Services which indicates that they have passed all the checks and balances to be able to operate legally in Australia. There are a few hiccups in terms of user feedback, but with a 12 year old broker, that is a rather natural occurrence.

is axitrader legit

There are thousands of different markets for you to trade on the AxiTrader Australia platform so it’s crucial that they get the layout of the site right to make it easier for you to execute trades. You will then need to verify that you have received the confirmation email. After that, you need to verify your identity by sending through a copy of your I.D, passport or driver’s license via email.

We highly recommend getting a demo account before going live in trading because it is important to practice your skills and strategies and as well as be comfortable with the platform. Trading itself requires high risks and as traders, we need to be aware of that. Any type of trader would want to be able to trade anywhere and whenever they want.AxiTrader lets you enjoy trading wherever you are whenever you want with its mobile trading. It is quick and easy to install, full of functions like charts, alerts, and analysis to help you keep pace with the market, in real-time.

AxiTrader runs its in-house research to help its users with bankable insights. At the same time, it constructs educational infrastructure to train and upskill traders on new features and strategies. AxiTrader lets the traders keep their trading costs relatively low compared to other top forex brokers in the market. This way, if new trader accounts lose money, their loss is insignificant and can be recouped easily. The trading tool offers an Order Flow Sentiment Indicator, which can potentially become the best feature for the client.

Offers and new customer experience – A quick and easy sign up process

Opinions, market data, and recommendations are subject to change at any time. The financial products offered by the promoted companies carry a high level of risk and can result in the loss of all your funds. Axi offers a comprehensive instructional program, which makes it a great alternative for new traders.

The commission-based Axi account delivers as advertised, with raw spreads of 0.0 pips for a commission of $7.00 per round lot, which resembles a competitive pricing environment. MetaTrader 4 is typically used by your more advanced trader but after some time playing around with the platform even your more novice trader can make use of its qualities. The trading platform provides you with real-time charting, live pricing, full market coverage of all the commodities, indices, CFDs and cryptocurrencies on the AxiTrader site. It is a flexible trading platform that gives you all the tools you need to make a success of your day to day trading activities. The only real differences between the MT4 standard account and the MT4 pro account are the commissions and the spread. However, the MT4 Pro account users will have access to much tighter spreads, starting from as low as 0.1.

is axitrader legit

Since Axi gives traders the ability to trade Forex and some CFDs, you must know the difference between these two in order to have better trading results. CFDs are complex instruments and come with a high risk of losing money or investments rapidly due to leverage. About 74 – 89% of retail investor accounts lose money when trading CFDs with this provider. You should know if you are willing to take the risk of losing money by trading CFDs before making a decision.

Being well over a decade old is not the main selling point of the operation however. When you become more profitable, the MT platform starts to freeze, with no signals coming through, nor is the platform responsive. Terrible FX broker – Every second T/P trade, has slippage tat increases with trade size.

As an established international group of companies, AxiTrader provides financial products focused on foreign exchange, primarily for retail investors. Tight spreads and fast execution come as standard on all accounts. The AxiTrader’s clients as well enjoying direct access to various liquidity providers from over 14 world’s largest banks. Axi offers several cryptocurrency products including Bitcoin, which is the most popular and largest crypto by market capitalization.

Methods of deposit and offers

Moreover, for those traders who trade more than 20 lots per calendar month, Axi will credit your account with $34.99 which can be used to pay for hosting. If you are the kind of person who likes to bounce ideas off other traders then you may appreciate Zulutrade. This is the world’s leading online and mobile Social Trading platform. It can also be used for copy trading purposes and traders are ranked on the platform according to “ZuluRank”. Duplitrade is an extra feature that is offered for free to all of those AxiTrader clients who have more than $5,000 in their accounts. You can of course also test it in a demo to make sure it works for you.

  • However, leverage levels will vary a great deal depending on the type of account that you have as well as the instruments that you are trading.
  • It does an excellent job of providing auxiliary services, including the Autochartist Plugin and PsyQuation Premium.
  • The second account option is theMetaTrader 4 Pro account, which offers ultra-low spreads from 0.0 pips and a standard commission of US$7 per round trip.
  • The firm offers as well Forex pairs to trade and spread betting as possible.
  • We opened a standard account with AxiCorp Limited, which is regulated by the UK’s FCA.

Trade more than 3,700 markets without commissions and professional platforms. Official website of AxiTraderTrade more than 3,700 markets without commissions and professional platforms. Interestingly, none of the two account types axitrader review require a minimum deposit. FCA regulation probably means that the service is MiFID-compliant. Indeed, AxiTrader is allowed to legally peddle financial services in the entire EU, with the exception of France and Belgium.

Stay up to date with the latest Forex scam alerts

This site is perfect for beginner traders but offers just enough range to be suitable for more advanced traders as well. You only need to check out our AxiTrader ranking on our site to see how impressed we were by this diverse broker. Each trader wants to trade with aForex Brokerwho truly understands their needs.Axi is a company founded by traders for traders. In this review, we will tackle the company itself , its platforms, services it offers and etc. Based on our Review and expert findings, AxiTrader is a trustworthy broker with a good reputation and excellent trading conditions, and attractive offers. We found broker’s low trading fees, also, traders can deposit as low as $1 since the broker doesn’t have any minimum deposit requirements, and overall conditions are good.

is axitrader legit

We also want a broker to be transparent with the fees that they charge. However, leverage levels will vary a great deal depending on the type of account that you have as well as the instruments that you are trading. In order for you to get a good idea of the kind of leverage levels that you can trade with you will have to take a look at the product schedule.

Product Summary – A straightforward crypto offering

MT4 Pro account users will have to pay up to AUD7 commission on trades that reach a certain amount though. The Next Generation of MT4, or what Axi calls ‘Axi MT4 NexGen’ is an advanced MT4 platform that embodies advanced management tools.It has enhanced ordering and sentiment trading. This platform is more developed, with more features to enjoy for professional traders.

What is the Minimum Deposit at Axi?

These are both spot CFDs as well as a selection of CFDs on Futures . There are other administrative charges that you may incur which include things like sending duplicate statements as well as debt collection charges. AxiTrader offers multi-channel funding and also allow broker-to-broker transfers from selected companies. Traders who manage multiple accounts can take advantage of the Multi Account Manager system, which allows account and money managers to manage a lot of different accounts from one location. Most trading strategies and types, such as scalping, hedging and Expert Advisors are allowed.

There is likely to be a high risk of losing money when trading with the AxiCorp Financial Services Pty LTD because the license stands suspended. Till the time it gets reinstated, traders may find the trading platform a bit dicey. An oversight in the administration of this company has resulted in the suspension of its license. Users located in off-shore jurisdictions may not be subjected to this suspension order.

It is a broker noted under its regulatory jurisdiction, as mentioned on AxiTrader international website. This website registers the highest share of AxiTrader users every year. The leverage on known financial instruments multiplies on AxiTrader, just like every other brokerage. The initial capital of trading with AxiTrader can be leveraged to amplify the potential gains smartly. It is important to note that high leverage has an inverse effect as well, where it could work in reverse of the trade.

There are no difficulties in transferring from desktop to mobile due to the identical design. Therefore, trading on the move is awesome, and you won’t have to worry about staying away from your PC for a long time. It provides additional features and allows using the same signals as in regular software version. To know whether AxiTrader is a truly trustable one must remember to check if the broker has any regulation. A regular AxiTrader account has an average spread of 1.24 (0.44 for Pro accounts) for the EUR/USD pair. For GBP/USD it is 1.73 or 0.85 for Pro, and for the AUD/USD pair, it is 1.34 or 0.42 for the users of Pro accounts.

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