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Overall

AxiTrader is a MetaTrader-only broker providing Forex traders with over 50 currency pairs and several dozen CFDs including on bitcoin, across its Standard and PRO MT4 account offerings via its regulated brands in the UK and Australia.

By Steven Hatzakis / April 3rd, 2018 / Updated: October 3rd, 2018

help 75
Trust Score
Dislikes
  • Limited range of non-forex CFDs
  • Average spread data not updated since December 2016

Review Sections:

Founded in 2007 in Sydney, AxiTrader launched its London brand in 2012, and its China operations in 2015, before reaching $100 billion in monthly client trading volume – which coincided with its expansion into the Middle East, Germany, and Latin America in 2016.

Today the AxiTrader brand maintains regulation with the UK’s FCA under its London-based entity, AxiCorp Limited, and with ASIC in Australia under AxiCorp Financial Services Pty Ltd, where it maintains an AFS license. In August 2016, AxiCorp announced that it received a significant strategic investment from RGT – a prominent Australian private equity firm – to help fuel its global growth.

AxiTrader is predominantly a MetaTrader-broker, offering Forex and CFD traders 54 currency pairs and 41 CFDs on commodities, metal, indices, and bitcoin, across its Standard and PRO MetaTrader 4 (MT4) Account offering. AxiTrader also offers its premium MT4 NextGen add-on package for clients with at least $1,000 on deposit, and provides several social-copy trading platforms and tools.

Trust Score

Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.

Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score. Here is our trust summary of AxiTrader.

AxiTrader
Trust Score75
Year Founded2007
Publicly-Traded Company (Listed) No
Regulated in Major Hub Yes
Regulated in Emerging Hub No
Authorised in the European Union Yes
CFTC Registered (USA) No
FCA Regulated (UK) Yes
IIROC Authorised (Canada) No
FINMA Authorised (Switzerland) No
ASIC Authorised (Australia) Yes
SFC Authorised (Hong Kong) No
MAS Authorised (Singapore) No
FSA Authorised (Japan) No
FMA Authorised (New Zealand) No
CySEC Authorised (Cyprus) No

Offering of Investments

The following table summarizes the different investment products available to AxiTrader clients.

AxiTrader
Minimum Initial Deposit$0.00 - $1000
Currency Pairs (Total Forex pairs)53
CFDs - Total Offered41
Exchange Traded Securities: US No
Exchange Traded Securities: International No
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD No

Commissions & Fees

In its PRO account offering, AxiTrader charges a $7.00 Round-Turn (RT) commission per standard lot (100K units) for accounts denominated in USD or AUD (accounts denominated in other currencies are charged a similar equivalent commission per RT).

AxiTrader average spreads forex pairs

Average spreads for the EUR/USD pair in the Standard account are 1.24 pips, whereas in the PRO account the all-in cost is 1.14 pips after factoring in average spreads of 0.44 pips plus the 0.7 pip commission. However, this data is from December 2016, and was not yet updated as of December 2017:

In terms of execution method, AxiTrader provides hybrid executions which may include it acting as a principal dealer when providing execution across its account types as a market-maker, in addition sending orders to a third-party dealer or liquidity provider (LP) as an agency-broker.

Overall, AxiTrader appears to offer competitive pricing when it comes to its commission-based PRO account offering, yet the lack of updated spreads makes it difficult to make a current comparison.

AxiTrader
Average Spread EUR/USD - Standard1.24
All-in Cost EUR/USD - Active1.14
Active Trader or Premium/VIP No

Customer Service

For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.

Results:

  • Average Connection Time: <1 minute
  • Average Net Promoter Score: 7 / 10
  • Average Professionalism Score: 6.7 / 10
  • Overall Score: 7.3 / 10
  • Ranking: 9th (43 brokers)

Research

AxiTrader provides research in the form of technical and fundamental analysis from its in-house team of analysts with daily articles published on its Market News & Blog. Staff also stream videos throughout the week, including the Market Morning video and Weekly outlook.

In addition, automated technical analysis and signals are provided via AutoChartist – a third-party technology provider known for its pattern-recognition software. AxiTrader also offers automated trading signals via the Auto Trade feature in Myfxbook – a third-party service provider that also powers AxiTrader’s economic calendar. Further social copy-trading features are available from ZuluTrade, and via the Signals Market in the firm’s MT4 platform offering, and in 2017, AxiTrader added the MirrorTrader platform powered by Tradency.

AxiTrader research

In terms of trading tool-related research, aside from AutoChartist, there are premium research tools packaged into AxiTrader’s MT4 NexGen add-on, which consists of a suite of plugins developed by FX Blue LLP and is comparable to the offerings of Pepperstone, Admiral Markets, and ADS Securities.

Overall, AxiTrader has a good foundation for its research offering, and the expansion of its social copy-trading offering with the addition of ZuluTrade and MirrorTrader helps the firm compete with its regional peers in Australia, including Pepperstone.

AxiTrader
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Acuity Trading No
Social Trading / Copy-Trading Yes
Social Sentiment - Currency Pairs Yes
Client Webinars Yes
Client Webinars (Archived) No
Videos - Beginner Trading Videos Yes
Economic Calendar Yes
Calendar Includes Forecasts Yes
Economic News Sentiment Yes
Trade Ideas - Backtesting Yes

Platforms & Tools

AxiTrader is a MetaTrader-only broker. This means it offers products from the suite of platforms from MetaQuotes Software corporation, developer of the widely popular MT4 and MT5 platforms for desktop, mobile, and web. To learn more about MT4, read our full MetaTrader guide.

While MetaTrader 4 comes standard, with little that varies from broker to broker, on the surface of the platform there can be significant differences in how the platform is set up for trading spreads and commissions, the available execution method, and other tools, features, and administrative areas that can affect your trading experience.

AxiTrader MT4 desktop

Besides spreads, range of instruments, and account types, here is a summary of the differences in features between AxiTrader’s available MT4 platform setup and the default MetaTrader experience:

  • MT4 NexGen package offered as available add-on
  • News headlines stream from Dow Jones Newswires
  • AutoChartist plugin available
  • MT4 installation file wrapped in Windows Emulator for MAC OS Installation
AxiTrader
Virtual Trading (Demo) Yes
Desktop Platform (Windows) Yes
Desktop Platform (Mac) No
Web Platform Yes
Social Trading / Copy-Trading Yes
Proprietary No
MetaTrader4 (MT4) Yes
MetaTrader5 (MT5) No
cTrader No
Currenex No
ZuluTrade No
MirrorTrader No
Charting - Drawing Tools (Total)31
Charting - Indicators / Studies (Total)51
Watchlists - Total Fields7
Order Type - Trailing Stop Yes

Mobile Trading

Since AxiTrader is a MetaTrader-only broker, iOS and Android versions of the MT4 app come standard and are both available for download from the Apple iTunes store and Android Play store, respectively. To read more about MT4, read our MetaTrader guideguide.

MetaTrader4 Mobile Charts

AxiTrader
Android App Yes
Apple iOS App Yes
Charting - Draw Trend Lines Yes
Charting - Can Turn Horizontally Yes
Charting - Technical Studies/Indicators30
Watch List Syncing No
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes

Other Notes

Through its Australian entity, AxiTrader requires a minimum deposit of AUD $1,000 for Australian residents to open a Standard Account, whereas for non-residents, the minimum is AUD $2,000, and AUD $5,000 for the PRO account. In the UK entity, there is no minimum for either the Standard or PRO.

AxiTrader launched CFDs on Bitcoin offering with just over 2:1 leverage at a 40% initial margin requirement, and a max trade size of 10 lots; trading is limited to Monday through Friday. While this is a positive step for the broker to cater to cryptocurrency traders and investors looking to speculate without owning the underlying, we’d like to see trading expanded through the weekend for those who wish to trade Bitcoin on Saturday and Sunday.

Margin rates for forex also vary by currency pairs, and range from 1% on major currency pairs to 10% across other pairs, as seen in the excerpt below from an AxiTrader product specification document.

AxiTrader Margin

Final Thoughts

As a MT4 broker offering dealer execution, AxiTrader provides competitive pricing on its PRO account offering, combining low average spreads with its round-turn commission per trade, making it a slightly cheaper option than its Standard account offering. With no minimum deposit outside of its Australian brand, AxiTrader can cater to a wide audience, yet the lack of an active trader offering puts it at a disadvantage when catering to high volume traders.

While the number of tradeable pairs was reduced from over 120 to 94 in 2017, with a total of 53 forex pairs (not including metals), and 41 CFDs including on bitcoin, AxiTrader still caters to a broad range of traders through its FCA-regulated brand in the UK and ASIC-regulated entity in Australia where minimum deposit requirements are higher.

The firm’s in-house and third-party research tools, including AutoChartist and add-ons provided in the MT4 NextGen package, help AxiTrader differentiate itself among other MT4-only forex brokers.

Methodology

For our 2018 Forex Broker Review we assessed, rated, and ranked 43 international forex brokers. Each FX broker was graded on 140 variables. Learn more.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses."Learn more.


Steven Hatzakis

Reviewed by Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 19 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

AxiTrader Competitors

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Ratings Overall

Summary

Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Education

Best in Class

2018
31 of 43

Overall

Commissions & Fees

Commission Notes

When comparing AxiTrader’s PRO and Standard account offerings, besides the differences in spreads, and the addition of a commission per trade in the ECN account, the execution method may also vary.

For example, in the PRO account there are no re-quotes, and execution is instant, whereas in the Standard account, AxiTrader acts as a principal dealer and spreads are wider (after factoring in the commission in the PRO account to make a comparison) 

  • In AxiTrader’s Standard account offering, spreads are wider in lieu of commission, and the broker is acting as a principal (dealer) to each trade.
  • In the PRO account offering, a round-turn commission is added to each completed trade, and is roughly the equivalent of $7.00 USD per standard lot (100K units) or $3.50 per side, as outlined in the excerpt below from AxiTrader.

AxiTrader Commission RT PRO Account


Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 4/03/2018 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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