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 80 currency pairs and several dozen CFDs on commodities, metal, and indices, 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.
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).
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.
|View All Fees||AxiTrader||Pepperstone||Admiral Markets||FXOpen|
|Commissions & Fees|
|All-in Cost EUR/USD - Active||1.140||0.860||1.200||N/A|
|All-in Cost GBP/USD - Active||1.550||1.190||1.500||N/A|
|CFDs - Total Offered||41||30||106||18|
|Currency Pairs (Total Forex pairs)||53||59||55||63|
In terms of execution method, AxiTrader acts as a principal dealer when providing execution across its account types, which means it make act as a market-maker, in addition to sending orders to a third-party dealer or liquidity provider (LP) as an agency-broker.
Overall, AxiTrader offers competitive pricing when it comes to its commission-based PRO account offering, helping it to compete with other MT4 brokers regulated in Australia and the UK.
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 via the Signals Market in the firm’s MT4 platform offering.
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 has room to expand beyond the several contributors that support the generation of its in-house content. It also has the potential to expand its range of third-party integrated research solutions.
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. 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.
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
- MT4 installation file wrapped in Windows Emulator for MAC OS Installation
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.
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.
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.
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.
Considering its low deposit requirements, regulated entities in the UK and Australia, and access to roughly 120 instruments including 80 forex pairs, AxiTrader can suit the needs of a broad range of traders.
The firm’s research offering and tools, including AutoChartist and add-ons provided in the MT4 NextGen package, as well as custom installation files for MT4 on MAC OS, help AxiTrader differentiate itself among other MT4-only forex brokers.
For our 2017 Forex Broker Review we assessed, rated, and ranked 20 international forex brokers. Each FX broker was graded on 255 variables. Learn more.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to foreign exchange trading, 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 currency pair. 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.View all AxiTrader Fees & Features
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. Over the past 18 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.