AxiTrader review: Forex and commodities broker

Quick verdict

About AxiTrader

AxiTrader launched in Sydney, Australia in 2007 as the flagship brand within the parent company AxiCorp. From a two-person startup, today it's a well-known name in the forex and CFD industry around the world, with offices in Sydney, London, Shanghai and Dubai.

Other AxiCorp brands include AxiSelect, a funding and development program, AxiPrime, for institutional grade traders, and AxiForex, a specialist offshoot for international money transfers.

Is AxiTrader trustworthy?

AxiTrader is licensed and regulated by the Australian Securities & Investments Commission (ASIC) under the trading name AxiCorp Financial Services. It is also regulated in the UK by the Financial Conduct Authority (FCA, UK) and in the Middle East by the Dubai Financial Services Authority (DFSA, Middle East).

Among popular user forex review sites, it has received broadly mixed but positive feedback and mid-to-high average star ratings:

• Forex Peace Army: 3*/5
• AU Trustpilot: 4.5*/5
• Compareforexbrokers.com: 7.3* /10

It has also received a number of awards in the last couple of years including "Best MT4 Broker" by CompareForexBrokers.com.

What can I trade on AxiTrader?

• List of currencies: AUD, BRL, CAD, CHF, CZK, EUR, GBP, HUF, IDR, ILS, JPY, MZN, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, TWD, USD, ZAR
• List of indices: AUS200, CNY50, EU50, FRA40, GER 30, HK50, IT40, JPN225, NETH25, SGFREE, SPA35, SWI20, UK100, US30, US500, US2000, CAC40, DAX30, DJ30, EUSTX50, FT100, HSI, NAS100
• Individual shares (CFD): Not available
• Commodities: Oil, cocoa, coffee, gold, copper, natural gas, soy beans, platinum, silver
• Cryptocurrencies: Bitcoin, Dash, Ethereum, Litecoin, Ripple

Platform layout

Why trade with AxiTrader?

• Good MT4 platform performance: AxiTrader has won awards for its easy functionality with the MT4 platform alone. You also have a range of add-on platforms including PsyQuation and Autochartist.
• Low spreads: Spreads start as low as 0.0 pips for the professional account.
• Long list of commodities offered: Along with forex and indices trading, you can also trade oil, gold, silver, coffee and soy, among others.
• Trading platform add-ons. AxiTrader offers a suite of technology add-ons for free, including MetaTrader4 Next Gen, Psyquation, AutoChartist, WebTrader and Axi-One ECN.
• Education offered: AxiTrader offers a series of easy-to-follow training videos if you want to learn to trade forex using the MT4 platform.
• 24/7 support. There's live chat support any time you need it.

What are AxiTrader's spreads and fees?

AxiTrader has among the lowest forex spreads and commission fees on the market, mostly in line with other MT4 forex providers. There's no subscription fee, inactivity fee or minimum starting deposit required on either of the accounts.

What account types are available with AxiTrader?

AxiTrader has two online trading accounts, Standard and Pro as well as a free demo account. Both the Standard and the Pro accounts share the same features, but the Standard account charges no commission on trades while the Pro account charges a commission but has lower fx spreads. There is no minimum deposit requirement for either of the accounts.

• Demo version: The free trial version offers $100,000 practice funds to play with for 30 days
• Standard: The basic account is free to set up and offers spreads starting from 1.0 pips, zero commissions and 0.01 minimum trade size.
• Professional: The professional account is free to set up and offers spreads starting from 0.0 pips plus $7 round trip commissions.

What customer support options are available?

AxiTrader offers 24/5 live chat, email and phone service options.

Does AxiTrader offer news and training?

AxiTrader offers tailored daily news and analysis over email and social media channels as well as a client-only Facebook trading community group "The Trading Circle".

It also offers a series of educational training videos for those wanting to learn how to trade using the MT4 forex and CFD suite.

How do I open an account with AxiTrader?

You can apply for a demo, Professional or Standard account with AxiTrader by following the link above.

When you first open an account with AxiTrader, you’ll need to select your preferred account type (Professional or Standard) and your account’s preferred currency (AUD, USD etc.). You can then choose your maximum preferred leverage between 100:1 and 400:1.

You’ll need to provide identification details, including:

• Home address
• Employment status
• Company name and job title
• Trading experience level – you'll need to pass a short knowledge test
• Photo ID: passport or driver's licence
• Source of funds
• Salary level plus current savings

After you’ve been approved, you can download the MT4 platform and starting trading.

Funding and withdrawal options: Debit and credit card (Mastercard, Visa, Maestro), Neteller, Skrill, Global Collect, Bpay, China Union Pay (Chinese residents only), bank transfer, broker to broker transfer.

Frequently asked questions

• Does AxiTrader allow me to trade shares?

  No, you cannot directly buy shares with AxiTrader; however, you can trade share market indices as CFDs.

• Can I trade from my account on my iPhone?

  Yes, it's possible to place trades from your desktop PC, Mac, iPhone or Android devices.

• How long will it take to withdraw funds?

  It depends on your funding method, but it will generally take between 1 and 3 days for funds to reach your account.