Founded in 2007, AxiTrader is a global Forex brokerage built by traders for traders. The driving force behind the launching of the brokerage was the fact, according to the Axitrader website, that its creators wanted to provide a way for the public to trade the way they liked to trade themselves.
While by-and-large, the operation looks legitimate and it is indeed trusted in Australia, there is some rather disturbing trader feedback on it out there. Then again, for a brokerage that is more than a decade old, that is hardly surprising. The operational aspects most complained-about concern trade execution, allegedly faulty client account management, unprofessional support and some trading platform issues.
The corporate background of the brokerage consists of AxiCorp Financial Services Pty Ltd, a registered Australian company (ACN 127 606 348), which is an AFMA member organization. The operator is regulated and licensed by ASIC. Its license number is 318232. In addition to its ASIC license, the operator is registered and licensed in New Zealand as well. Its FSP license number is 518226.
The UK-facing side of the brokerage is run by a wholly owned subsidiary of the above-mentioned corporate entity: AxiTrader UK. AxiTrader UK is registered in England and Wales under company number 06378544. The brokerage is licensed by the FCA and it is the possessor of license #509746.
Why would you make AxiTrader your top trading destination though?
In addition to its solid regulatory profile (detailed above), the broker offers solid trading platforms, a good asset selection and some rather outstanding reputation among its industry peers. The operation is claimed to be “Australia’s Most Trusted Forex Broker” and it boasts scores of industry awards on its website. These awards range from Best Spreads to Best Affiliate Program, and they do make a rather impressive “show of force” indeed.
There is a total of 3 account types on offer (in the UK version, and 2 in the AU version).
The most accessible of these accounts is the MT4 Standard Account. This option features some 80 currency pairs, no commission, some rather competitive spreads and no minimum deposit. The MT4 platform can be downloaded for free, directly off the official AxiTrader website, and it only takes a few minutes to install. The MT4 Standard Account offers access to advanced data/technical analysis, as well as drag-and-drop charting and one-click trading. This account/platform option is available in a Mobile format too.
The MT4 Pro Account comes with commissions, which start from $3.5 per side. In exchange for that though, the spreads featured by this account start from 0.0 pips, and superior execution is assured. There is no minimum required deposit on this account either. Deep liquidity is offered, and the use of EAs is allowed.
A free VPS service is tossed into this package as well, for those who fulfill the trading volume requirements.
For UK users of the site, a special Spread Betting Account is available too. What is the exact difference between square Forex/CFD trading and Spread betting? Not much really, but the latter enjoys a special tax-free status in the UK, which is why it is quite popular there.
The entire trading platform offer of the brokerage is based on MT4. The world’s most popular (and possibly: most advanced) trading platform is available in numerous versions/variants though.
There’s a suite focused on PC, Web, Mobile, and Mac. Then, there is an MT4 NextGen platform, which features advanced management tools, enhanced order management, and sentiment-based trading. In addition to that, it also offers a bevy of other interesting features, such as an Automated Trade Journal, Forex news, a new terminal window as well as a handy alarm manager. The MT4 Forex Trading Signals and the MT4 MAM (Multi Account Manager) round out the platform offer.
Scores of deposit options are supported by the broker. Beginning with an Aussie-only option (BPAY) and wrapping up with the usual selection of credit cards, international- and local bank transfers and Skrill, everything is covered, not to mention broker-to-broker transfers.
The market coverage of the broker features two main categories: Forex and CFDs.
Forex-wise, low spreads are offered, and some 80 currency pairs are covered.
Regarding CFDs, some say the tradable asset-selection is rather shallow. The selection does cover metals and commodities, oil as well as a decent selection of indices.
Email, live chat and phone support options are offered at Axitrader, with support centers running in major cities world-over.
The way traders’ monies are handled at Axitrader is indeed very safe. There have actually not been any complaints in this regard at all.
By every measure, AxiTrader is a more than decent trading destination. Some of the above-mentioned trader complaints are a tad unsettling though.