Axi Trader Review Australia & Test 2021
Is Axi Trader safe or scam?
It’s important to find an online broker that is not only a legitimate one but that is also safe to use. That is why we answer the question “is AxiTrader safe to trade with?” in our review of the broker.
Our AxiTrader review takes a closer look at this exceptional broker by showing you how you can create your account, what some of the fees are, how you can contact the support service and what trading markets are available. Our AxiTrader rating speaks for itself but keep reading our review if you want to learn more about this broker.
At the time of writing your AxiTrader review, we couldn’t seem to locate any kind of new customer offer on the site. In all honesty, we weren’t that surprised as new customer offers or “bonus” offers are actually pretty rare when you sign up to any online broker platform. As a result, the lack of a new customer offer here won’t really impact our AxiTrader ratings too much.
You will then need to verify that you have received the confirmation email. After that, you need to verify your identity by sending through a copy of your I.D, passport or driver’s license via email. Once AxiTrader Australia has confirmed your identification, you can then finish off the process by funding your account with one of the numerous payment methods on the site. The whole process can take you less than 15 minutes depending on how busy the AxiTrader team is at the time.
One thing that the best online brokers will get right is the usability of their platforms. It’s a real shame when you find a broker that offers the trading markets you are looking for only for you to find that the site is an absolute pain to use. Thankfully, our AxiTrader review Australia found that this particular broker is a breeze to use.
The desktop version of the site is everything we could have hoped for. Fluid, easy to navigate, and laid out in such a way that you’ll have no issues finding the markets you are looking to trade. There are thousands of different markets for you to trade on the AxiTrader Australia platform so it’s crucial that they get the layout of the site right to make it easier for you to execute trades.
Aside from the desktop version of the site, you can access the AxiTrader Australia mobile app as well. It is a streamlined and exceptional mobile app that offers you just about everything that the desktop version of the platform does. You can download the app for Android and IOS so no one is getting left behind. To give you an idea of just how highly we rate the AxiTrader platform in terms of usability we suggest comparing it with our Eightcap review.
Our AxiTrader review Australia found that users could choose from 2 different account types on the platform, 3 if you include the demo account option. All 3 accounts are suitable for beginner traders.
The first account is the MT4 standard account. This account gives users access to leverage of 400:1 on certain trading markets and spreads starting from as low as 1. The minimum deposit amount for the MT4 standard account is AUD5 which is pretty low when compared to other brokers like Admiral Markets Australia. Users of the standard account also won’t have to pay any commissions on their trades.
The only real differences between the MT4 standard account and the MT4 pro account are the commissions and the spread. Everything else is essentially the same. However, the MT4 Pro account users will have access to much tighter spreads, starting from as low as 0.1. MT4 Pro account users will have to pay up to AUD7 commission on trades that reach a certain amount though.
Fees – What you’ll need to pay up for
The fees at AxiTrader really don’t need much explaining. There are zero transaction fees for your deposits and withdrawal on the platform. Aside from that, you will have to pay a commission of up to AUD7 if you decide to go for the MT4 Pro account. Apart from that, the spreads you can access are exceptionally low.
The only real notable fee on the site that you may need to pay depending on interest rate movements are the small fees on currency pairs for forex trading. You can check out the FAQs section or contact the customer support team on the site to learn more about these swap fees.
There are currently only 2 different platforms for you to use on the AxiTrader site. As it stands, users can access the legendary MT4 trading platform and the MT4 Web Trader app for your desktop.
MT4 has earned legendary status in the world of online trading for very good reason. While it has largely developed its name for forex trading, you can trade CFDs with the platform as well. AxiTrader may want to think about adding MT5 to their site as well but for now, you really won’t need much more than MT4 as it should cover all of your trading needs on the AxiTrader site with its customizable features, technical indicators and its analysis and charting tools.
If you feel like you need a broker who offers you more than just MT4 for your trading needs then we suggest taking a look at our Trade Nation review.
There is a decent selection of payment methods for you to choose from when it comes to making your deposits and withdrawals on the AxiTrader platform. The best part about making deposits and withdrawals over at AxiTrader is that they don’t charge you a penny for any of your transactions.
If you are looking to make your first deposit on the site, you can do so by using credit/debit card, POLi, Neteller, Skrill, Global Collect, and bank transfers. These options can also be used for your withdrawals as well. The longest processing times from these options will be global collect which can take up to 5-business days to clear and bank transfers which can take up to 3.
To be quite honest, this is the one area where AxiTrader could stand to improve somewhat. From what our AxiTrader review Australia could gather, there is only one option for contacting their support team and that is a live chat feature. Of all the features they could offer this is certainly the best but we would really like to see them add an email and a telephone option in the near future as many traders prefer this mode of contact.
We tested the live chat feature ourselves and did at least find the support member we spoke to be very helpful. They were professional in their responses but were also warm and friendly while we chatted to them. Really all the customer support needs is just a few additional contact options and it will be perfect. To give you an idea of the different contact methods that you can find, check out our Ingot review.
If you were at all concerned about the legitimacy of AxiTrader, you don’t need to be. AxiTrader has obtained their brokerage license from the Australian Financial Services which indicates that they have passed all the checks and balances to be able to operate legally in Australia.
Aside from the license that they hold, Axitrader also holds all of their users’ funds in a separate trust account. This is a pretty firm answer to the question “is there an AxiTrader scam happening?” as it shows the broker will in know way use your funds to cover any of their own debts. Should the broker ever become insolvent, your funds will be returned to you.
There are plenty of useful features on the AxiTrader Australia platform; for one, there is the demo account feature which allows you to fully test the site out with fictional funding so that you can trade using MT4 and the available trading markets. This way you can test out the site to see if it’s going to be the right fit for you.
Apart from the demo account, there are plenty of educational resources on the site such as seminars and webinars, a beginner’s guide to trading forex, CFD trading basics, and more. That is why we have mentioned that AxiTrader Australia is perfect for new traders as they genuinely try to get you started off on the right foot with your trading endeavors.
That brings our AxiTrader review to a close. All in all, we were really impressed with the range of trading markets available on this site and how easy it was for us to execute a couple of trades with the MT4 trading platform. This site is perfect for beginner traders but offers just enough range to be suitable for more advanced traders as well. You only need to check out our AxiTrader ranking on our site to see how impressed we were by this diverse broker.