- March 15, 2022
- Posted by: InfoCode
- Category: Forex Trading
If you do high volumes and you have extensive experience trading then the pro account is definitely 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. 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. Below is the Initial Margin rate and leverage tables at AxiTrader.
Like all brokers, there is a lot to like and some things that they could do better. The whole point of this review is to make sure that they have what you are looking for. Here is what Raul, a trader from the United States, thinks about AxiTrader. He states that the company had charged back his money after a request and thus, assisted him when he needed it. That, however, is not a problem for local payments or other withdrawal methods. If you have an Android or iOS mobile device, you can use them to get the free AxiTrader mobile application.
Being on the market for more than 13 years has taught AxiTrader that having the polished trading platform is an essential requirement for any broker. That’s why the AxiTrader MT4 is the main software people can use here. MetaTrader has long been an industry standard and there’s just no way of going wrong with it. Axitrader started as Sydney based brand in 2007, the company expanded its operations into UK and China in 2012 and 2015 respectfully. By 2016 Axitrader has reached over €100bln in monthly volume, mainly from its original markets, as well as Germany, Latin American and Middle-East. The same year Axitrader received a significant investment from the Australian-local private equity firm RGT.
Developed by MetaQuotes in 2005, MT4 was one of the first readily available trading platforms for retail traders on the market. Unlike most trading platforms at the time, which were the proprietary property of a broker, MT4 was licenced out to all brokers and as a result free for use by traders. I like the trading experience at Axi as the Pro account offers raw spreads from 0.0 pips for a commission of $7.00 https://forexbroker-listing.com/ per round lot. I also appreciate the swap rates, which accurately reflect the global interest rate environment, free of excessive broker mark-ups, as evident at many brokers. While the asset selection is limited, I think Axi is an excellent choice for pure Forex traders with 75 currency pairs. MT4 Standard Account offers 80 currency pairs, no commission, no minimum deposit, free setup, and download.
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Axi stands out for its competitive trading costs, on the Pro account, especially on the forex market with the EUR/USD pair with an average of 0.2 pip spread. The ECN trading environment offered by Axi, and the minimum slippage provided to investors allows for the best transaction costs. Axi clients are also allowed to hedge, scalp, swing or position trade, with no restrictions. DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money.
So, if you decide to move forward as a trader and trade with real money, you can use any of these payment methods that are more convenient for you. Before going through the KYC process, please be prepared to provide your passport copy and proof of residency . While most traders do not deposit $50,000 a month, there is a risk that conversion fees will occur if you deposit in a different currency.
For standard accounts, the broker offers fixed spreads at 1.0 pips and no commissions. Pro accounts, however, have spreads starting with 0.0 pips and a 7 AUD commission for each trade. I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader. You can trade forex and CFDs within all types of accounts offered by Axi and if you want to check other minimum deposit brokers follow the link attached. If you are in Europe or the UK, then your liking to be trading with AxiCorp Limited, which is the UK arm of Axi.
Review of the trading conditions for traders
Along with the most famous Indices including US30, NAS100, BRENT and more. The platform allows you the chance to access your trades anytime, anywhere as it can be downloaded on almost every device, that means Windows, Mac, Android, IOS, and WebTrader. The platform is known worldwide for its great performance and fast applications.
Five eBooks are also available free of charge, but Axi asks for a name, country, phone number, and e-mail address. They are required for opening an account, and therefore not an obstacle to new clients. The video library consists of eleven courses, consisting of numerous lessons.
AxiTrader Review 2022
Following are the regulatory authorities that regulate AxiTrader. We provide answers to all questions in this AxiTrader vs IC Markets Comparison Review. There are two types of live accounts and these are the standard and the pro accounts. These basically differ according to their fee structure as well as the amount of leverage that you can employ with them.
Axi Customer ServiceYou can contact AxiTrader via email, and live chat. We waited for 1-8 minutes before being connected to the customer service team via the live chat function. Axi’s educational articles are grouped according to the relevant trading topics making it easy for traders to find information on specific topics.
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us. On the plus side, forex fees are low, and deposits and withdrawals are free of charge. Account opening is easy and fully digital, without any minimum deposit, which is also great. Axi has low forex fees, and deposits and withdrawals are free of charge. The Axi blog also features high-quality educational articles, and I can only recommend that traders of all levels take a look, as there is plenty of thought-provoking content.
The MyFXbook is an AutoTrade service that needs to be connected with the main account with a minimum deposit of $1000. Overall, we found AxiTrader to be cost-effective compared with several other forex and CFD brokers in Malaysia. The commission with the Pro account is slightly high but the professional account offers the best pricing. AxiTrader does not incur any non-trading fee for active traders as deposits and withdrawals are free.
On our first interaction with the customer service team via live chat we received an inaccurate answer to our question. Axi does not charge other non-trading fees such as account inactivity fees or deposit and withdrawal fees. The elite account if only offered to professional trades as it require a minimum deposit of $25000. It comes by nature that such a trusted broker from many traders would have the best regulations from the best financial regulators of the market. Along with being recognized in the market through awards and prizes.
On the negative side of things, the design on these, look antiquated.Some of the features are not easy to use. For example, it is hard to figure out how to remove an indicator from the chart. Their offering is average, seeing as they do not offer ETFs or CFDs. It is easy to place orders, and you have these types of orders available; market, limit and stop-loss. You cannot set your alerts and notifications when using the AxiTraderweb-trading platform because that feature is only available when you are using the desktop app.
Another unique feature I want to point out is AxiSelect, a program that funds talented traders with up to $350,000. The Axi Community completed an excellent set of value-added services at Axi, all intended to promote better traders. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.
- You need to consider the level of knowledge you have before you divest and start trading in CFDs.
- AxiTrader is a licensed, well-regulated, and fully authorized Australian online trading platform that allows you to get started with a demo account.
- Axi makes money from commissions and spreads from both pro and standard accounts.
- And best of all, traders will also have access to the PsyQuation analytics platform where they can connect their demo account and analyse their trading style and strategies.
- There are various trading instruments to trade in like Forex, Indices, Shares, Commodities, Gold, Silver, and Oil.
All FSPs require a regulatory license from FCA to operate their business in the UK. Account Opening with IC Markets for our test was smooth, the registration process took exactly 14 minutes. There are of course some areas for improvement as it relates to their asset coverage and educational material.
Test of the Axi trading platform
This insurance coverage comes at no additional cost and automatically applies to all retail accounts with balances above US$20,000. Axi clients are provided free access to PsyQuation Premium, an AI-driven analytics platform to help you discover strategies for MT4. Below, you can see some of the many tools that are available, along with their short descriptions. It is important to note that certain products are only available from specific live servers on the MetaTrader trading platform. You can set alerts and notifications to be received via mobile,but only on the desktop trading platform.
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There are more than a dozen languages supported on the website and the desktop and mobile trading platforms are very easy to use. Although there is a wide range of markets available for trading on MT4 still the number is lesser when compared with other axitrader review forex brokers in Malaysia. After signing the declaration, the last step is to fund the account to begin trading at AxiTrader. There is no lower limit on minimum deposit as traders can deposit as low as $1 through their preferred method of investment.
Hence, the entered details should be the same as that on the documents. For a detailed review of fees charged at AxiTrader, we have separately described each component of trading and non-trading fees. AxiTrader was launched in 2007 and keeps the clients’ funds in a segregated bank account.