They are authorised, licensed and regulated by the Australian Securities and Investment Commission as well as the Financial Conduct Authority of the United Kingdom. Axicorp Financial Services Pty Ltd holds an Australian Financial Services License . Spread betting and trading both carry a high level of risk to your capital with the possibility of losing more than your initial investment. These products may not be suitable for all investors, and are not available to individuals under the age of 18.
In my opinion, it might be the broker wanted to focus their efforts on 1 platform and to put all the tools and details in only one place to make it easier for the customers. Generally, demo accounts are targeting newly forex-trade clients that still need to get practice on how to handle the live accounts and how exactly the market works. These accounts also work in case of the need to acquire new information or knowledge about the market. As has become standard for most brokers these days, AxiTrader offers a demo account. This is a great way for a trader to practice their trading in a non-threatening and beginner friendly way.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of letting your accounts lose money through CFD trading. Since the company is managed by traders themselves, they understand the need to have a great 24-hour service and give their best to deliver it to their clients. It offers an advanced and developed MetaTrader 4 platform that allows traders to enjoy the maximum capacity to trade. The brand also promotes the security of funds of its clients wherein the funds of the customers are segregated from their own company’s funds. It has gathered various awards including as the most trusted Forex broker.
You are able to make use of an option for 2 Factor Authentications with AxiTrader for increased safety. An SMS with the confirmation code will be sent to a mobile phone. You’ll be required to enter this code to log into your account. If you feel that AxiTrader is not right for you then at the bottom of this AxiTrader review you will find a lot of alternatives to AxiTrader. Trading on AxiTrader Standard account, you only need to pay for the spread, which is the difference between the buy and sell price.
While the asset selection is limited, I think Axi is an excellent choice for pure Forex traders with 75 currency pairs. Visit AxiTrader website CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
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Overall, Axi fully complies with the regulatory standards imposed by some of the top financial regulators in the world. However, it’s worth mentioning that in Nov 2019, New Zealand’s financial regulator suspended AxiCorp licenses for not complying with the Financial Markets Conduct Act 2013. As a result, New Zealand retail traders can’t apply for an Axitrader account because Axi has stopped offering its services in this jurisdiction. After fully completing all profile information and the submitting of an application, the natural process is to deposit into your newly created trader account.
When spreads and fees are compared to other Australian forex brokers, the overall result was favourable. This included comparisons to popular currency brokers including Pepperstoneand IC Markets. This is because their ‘no dealing desk‘ allows direct trading with liquidity pools, which also enhances execution speeds. This trading account is designed for beginner forex traders as it’s not a market makers account.
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- The broker will request some proof and they’d have the right to accept or deny your request.
- A withdrawal request is processed fast with no withdrawal fees and funds are credited to the client’s bank accounts in 1-2 business days.
Axiwas founded in the year 2007 and was rebranded from AxiTrader to Axi in 2020,with a goal to be theonline brokerthat traders would like to trade with. Since then, the company has risen and has grown to be one of the largest and leadingForex brokersin the world. Axi offers its clients the ability to trade indices, commodities, Forex cryptocurrencies, and some CFDs. One of the top forex brokers in the forex trading market is AxiTrader. Over the years, AxiTrader has become a sought-after name in the forex trading market.
Why does AxiTrader ask for my passport?
The fact that they have been around for so long and are regulated by respected financial authorities means that you have nothing to fear when it comes to the safety of your money. On the other hand, AxiTrader’s license got suspended in New Zealand by the Financial Markets Authority since July 29, 2019. In addition to the news, there is an economic calendar that has many filters for country and category. That is a great feature when you want to narrow down the kind of notifications you get. If you need either of these tools, you will have to source them from third party sources. MetaTrader tools are the most helpful, as they are offered in a large number of languages.
They mix hard and soft commodities, offer 31 equity CFDs, and six cryptocurrency CFDs. There is an individual account, joint accounts, and corporate accounts. The structuring in terms of fees is different to make sure that the variety, covers everyone. One of the best ways to save money on currency conversion fees is to open a multi-currency bank account at digital banks.
Enter your personal details including title, date of birth, country of birth, residential address, and nationality. Enter your full name, email address, phone number, country of residence and application type. Our review has found AxiTrader to be an honest, respected and well-established broker. Having been in operation for over 10 years, the broker has clearly earned the kudos that have been bestowed upon it. Lastly, AxiTrader is still unavailable to large markets in regions such as the United States and Canada. Traders who like to develop their own trading algorithms and Expert Advisors usually tend to purchase a VPS server to run their scripts on.
The platform is known worldwide for its great performance and fast applications. No wonder it’s the most preferred platform in the Forex market. In order to open an Islamic account with Axi, you need to get in touch with their customer support and request an account opening.
Founded in 2007 with one big idea, to be the broker everyone would want to trade with. Once the broker put themselves in the traders’ shoes and starts thinking like one, it’s clear that that is a good broker to have on your side while investing. Which lead Axi to have a community of traders in around 100+ countries from all around the globe. Session Map, which shows you the opening and closing times of trading markets across the world.
Can you trade metals with AxiTrader?
You can have them sent to your phone via email or mobile push notifications. You will be able to see the profit-loss balance and the commissions you paid. The best part about the web trading platform on AxiTrader is that it is very customizable. You can change size and position very quickly and easily from the table.
It offers also commodities & indices for traders looking to diversify their investments and spread their capital. 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. A major pro was that Axi has low spreads across all the instruments we traded with Bitcoin spreads being very low. AxiTrader offers the popular app MetaTrader 4 to its clients and does not have a proprietary trading platform.
Moreover, they have a host of other features which will satisfy the professional traders among you. As mentioned in the fees section, with the pro account you have much lower spreads than the standard account although you do have to pay lot commission. With the pro account you also can trade with up to 400x leverage. There are two types https://forexbroker-listing.com/ 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. They have an extensive track record in the industry and are well known for their relatively attentive customer service and extensive asset coverage.
You will come up with strategies and test them on the real market, with virtual money. Compared to most of the other brokers we have reviewed, AxiTrader has a fast live-chat feature that returns answers quickly and relevantly. The phone supports us average-speed, but the answers are all relevant.
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. However, PsyQuation, MyFXbook, and signals are all there to make better trades. It may not axitrader review be the best way to research, but it is a way for new traders to learn. With the filters, the economic calendar can be tailored to focus on one currency pair or an event directly linked to a position you may have taken. There is also a way to get a countdown to the news by looking at the time-left column.