AxiTrader Review 2024 - Is it a Scam? Fees, leverage, minimum deposit
The broker was founded in 2007 by entrepreneurs who were active as traders themselves and were therefore well acquainted with the wishes and needs of their customers.
German customers trade through the English subsidiary of the Australian parent company, which is regulated by the FCA, the financial supervisory authority that is regarded as strict and reliable. As a result, the broker is tied to strict conditions, which include the separate management of client funds, so that they can be paid out to traders even in the event of AxiTrader's insolvency. Waiving the obligation to make additional contributions provides additional security, since negative account balances are excluded. Customers are therefore unable to suffer losses that exceed their deposits.
AxiTrader offers two different account models to meet the different needs of traders. Both account types are traded on the proven MetaTrader 4 platform, which is also available as a "NextGen" version of AxiTrader.
With more than 80 currency pairs, the trade offer includes not only the usual major currency pairs, but also minors and many exotics. CFDs also have a large selection of asset classes.
The AxiTrader review shows that the broker provides a trusted trading environment for traders thanks to the regulatory environment. Traders from Germany trade through the UK subsidiary, which is regulated by the Financial Conduct Authority (FCA) and subject to strict conditions. The FCA is considered one of the world's strictest regulatory authorities and is responsible for the protection of traders.
AxiTrader's clients' funds are not managed together with the assets of the broker, but are held in separate accounts with first-class banks. In this way, they cannot be used for brokerage purposes, are only available for the positions of the customers and can also be paid out without any problems in the event of insolvency. In addition, customers are also protected by the FSCS Deposit Protection Fund, which secures up to L50,000 credit per customer.
Negative account balances are expressly excluded in the general terms and conditions, so that traders are not obliged to make a new deposit in the event of loss.
While German brokers generally pay the final withholding tax automatically to the tax office, AxiTrader pays out the full return on investment. Customers have to take care of the taxation themselves within the scope of their income tax return.
AxiTrader offers all major major currency pairs and many more exotic currency pairs. With more than 80 forex pairs, the selection is above the industry average and provides a good basis for the use of automated trading systems. A good selection of CFDs is also available. The offering is subdivided into different asset classes so that users can quickly find their preferred trading products.
The major currency pairs are already available from 0 pips (per account) or 1.0 pips (standard account). In the case of underlyings that are traded less frequently, spreads are naturally somewhat higher, but also prove to be competitive.
With the AxiTrader demo account, all underlying assets can be traded with virtual credit, so that interested potential customers can familiarize themselves with the offer and conditions in detail.
As an ECN broker, AxiTrader forwards its clients' orders to a large liquidity pool, including 14 of the world's leading banks. In this way, the trade can be carried out at the best available conditions, which is of course a financial advantage for the customers.
With two different account models, the broker meets the needs of private retail traders as well as professional traders.
The MT4 Standard account can be opened in another account currency from a deposit of USD 200 or equivalent and offers spreads from 1.0 pips without additional commissions. For the MT4 Pro account, a minimum deposit of USD 1,000 is required, but customers receive particularly favourable conditions. With a commission of USD 7 per roundturn, trades can be executed at spreads of 0 pips or more.
For both account models, the preset lever is 1:100, but can be increased to up to 1:400 if required. With a minimum trading volume of only 0.01 lot, professional risk management can be implemented even for small investment amounts.
AxiTrader explicitly permits all trading strategies, so that even scalping, which is not allowed for all brokers, can be used. Expert Advisors and other third-party offerings are also welcome.
With the MetaTrader 4 trading platform, AxiTrader gives traders access to a wide range of functions, enabling them to analyze trading prices in detail and implement their favorite strategies individually.
Trades can be placed directly from the charts using various order functions according to user-defined criteria or one-click trading. The trading platform can be extended with numerous tools, and AxiTrader expressly welcomes the services of third party brokers. This applies in particular to trading via expert advisors and other automatic trading signals. Own strategies can also be automated and tested for effectiveness by means of a backtest.
With MetaTrader 4 NextGen, customers with a minimum deposit of USD 1,000 can take advantage of additional professional features such as the automated trading journal, the alarm manager or various news feeds.
To enable customers to access their trading account while they are on the move and to react to current developments, MetaTrader is not only available as a download for the PC, but also as a WebTrader and app. This allows AxiTrader customers to trade from changing computers or smartphones under professional conditions.
Opening an account is similar to opening an account with other online brokers and can be done completely online. Prospective clients must provide information on their personal details, asset status and trading experience with Forex, CFDs and other financial products in the registration form. You must also define the account type and currency for the account management. As a rule, changes are no longer possible after the account has been opened, but a further trading account can be created without any problems if required.
In order to fully utilize the trading account, customers must confirm their identity by means of an ID card and a document indicating the trader's address. This so-called verification can also be carried out online. After the customer service has verified the documents, the trading account will be fully activated and traders can now also make withdrawals.
Before customers can place trades, the necessary credit balance must first be deposited into the trading account. This can be done using different methods. The amount deposited is usually credited to the trading account within a few minutes. Only the transfer is expected to take up to three days to process, which is not due to AxiTrader but to the banks involved.
AxiTrader eliminates negative account balances even in extremely volatile phases. This means that even when trading with high leverage, clients only ever risk the maximum amount on their trading account and cannot incur higher losses.
Since trading in speculative financial products is always associated with a certain risk of loss, traders should only invest free capital that they have not budgeted for other purposes in the medium or long term. Thus, no serious financial problems arise in the event of an unfavourable price trend. Investments for retirement or similar purposes should be made through more conservative financial products, while forex and CFD trading is an attractive speculative investment. By waiving the obligation to make additional contributions, even in the event of an unfavourable price development, only the amount held in the trading account is affected, while the trader's remaining assets remain untouched.
AxiTrader offers a wide range of services that potential customers want to see for themselves before opening a trading account with the Australian broker. The demo account, which is equipped with a virtual credit balance of USD 50,000, enables users to trade at real conditions. Just as with a live account, AxiTrader's demo account is traded via the world-renowned trading platform MetaTrader 4, which allows you to use all the features and trade at real conditions, giving users a realistic impression of the broker's offering.
The opening of a demo account does not require a complete registration and the verification required by law for standard and pro accounts is no longer necessary. As a result, opening an account does not take longer than one minute and users can start virtual test trading immediately.
The duration of the demo account is initially limited to 30 days, but can be extended in consultation with the support team, which is useful, for example, if the AxiTrader demo account is to be used in parallel with a live account for regular training.
AxiTrader's customer service can be contacted around the clock via chat, phone or email in German. This means that traders always have a competent contact person who is committed to finding a quick and satisfactory solution to any questions or problems. AxiTrader's customer service is only unavailable on weekends when trading is suspended.
The additional offer includes various written articles and videos, with which new traders can learn the basics of Forex trading and practice using the MetaTrader 4 trading platform. The newly acquired skills can be instantly trained and consolidated with the broker's demo account. For this purpose, the AxiTrader demo account is already equipped with a virtual balance of $50,000 USD. The duration of the demo account is initially limited to 30 days, but can be extended after consultation with customer service if there is still a need for training.
AxiTrader regularly hosts webinars where traders can actively participate via chat. The lecturers are recognized financial experts, most of whom are successful traders themselves.
AxiTrader provides the broker's clients with daily news and analysis from financial experts so that they are always up to date and can adapt their trading behaviour to the current market situation.
Since its foundation in 2007, AxiTrader has won numerous awards and prizes. In their AxiTrader reviews, various online portals attest to the broker's attractive trading offer, first-class services and reliable regulation.
AxiTrader was named "Financial Institution of the Year" by the Asia-Pacific Financial Investment Association in 2014. In 2017, he was named the most trusted forex broker.
It would go beyond the scope of listing all the broker's major and minor awards in this AxiTrader review. On the Broker's website, interested visitors can inform themselves about further awards.
In our AxiTrader review the Australian broker was able to convince with good conditions and first-class additional services. Customers can trade more than 80 different currency pairs on the world's most popular MetaTrader4 platform. A standard account can be opened from a minimum deposit of 200 US dollars and is therefore also suitable for retail traders. Professional traders can trade with the pro account for a minimum deposit of 1,000 US dollars or more at particularly favourable conditions and use the extended trading platform MetaTrader 4 NextGen free of charge.
German traders are trading with the UK licensed subsidiary of the broker, which is also convincing due to the strict regulation of the FCA in the AxiTrader review. The extensive additional range of products and the continuous access to customer service are further reasons that clearly speak for the broker.
For traders looking for a low-cost, customer-focused ECN broker, it might be worthwhile to visit AxiTrader's website and try out the broker with a demo account.
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