To find the top fx brokers
, the team here at ForexBrokers.com collected over 6,000 data points during a seven month review of the forex industry. In this fx broker comparison, we will compare AxiTrader vs FXCM.
To assess both of these forex brokers, we will begin with cost. Comparing two fx brokers on cost is not easy. First, not every broker publicizes their average spreads. And, for the brokers that do publish their data, the formulas used to calculate average spreads can vary. Furthermore, the currency pair you are trading can impact cost, as well as the execution policies of the broker. Dealing desk or no dealing desk? The list goes on and on. To make comparing cost easy, we have a star rating that takes everything into account. FXCM is a better option with a 4.00 star rating over AxiTrader's 3.50 star rating.
Next to commissions and fees, regulation and currency availability are important to take into consideration. You want to trust and have confidence the forex broker you choose. Both AxiTrader and FXCM are regulated in a major hub. FXCM is a publicly traded company while AxiTrader is not. And, when it comes to total currency pairs available to trade, a quick comparison is helpful. FXCM trails AxiTrader by 14 total currency pairs (for example, EUR/USD), with AxiTrader offering 53 and FXCM offering 39.
To round out our comparison of AxiTrader vs FXCM, let's look at the tools and features most used by forex traders. For trading platforms, traders are all familiar with MetaTrader. AxiTrader alongside FXCM offer Meta Trader. With a platform picked out, looking at charts is a must so they should be of high-quality. As part of our research, we count the number of drawing tools and total technical indicators available. AxiTrader and FXCM offer the same number of charting tools, 31. Both brokers offer clients access to the same number of indicators (eg, moving averages), 51.
Overall, FXCM boasts 4.50 stars versus AxiTrader's 3.50 stars. And, when it comes to individual category awards, FXCM posted awards Best in Class - Platforms & Tools, Best in Class - Mobile Trading and Best in Class - Investor Education in 2018, while AxiTrader found itself with none of these.