AxiTrader Review Australia & Test 2021
Is AxiTrader Safe Or Scam?
AxiTrader has grown to be one of the top brokers available to Australian residents. The low no-trading and trading fees are an immediate draw for people who conduct frequent high volume trades.
Our AxiTrader review Australia was arguably most impressed by the selection of forex markets available on the site. With over 70 different currency pairs, users who are fans of the ebbs and flows of currency changes will quickly be able to find a home in AxiTrader. Check out the rest of our AxiTrader review to find out more.
If by the end of our AxiTrader review Australia you feel like this is the broker for you, then you’ll need to know how to get your account all set up. The process is really straightforward as all you will need to do first is navigate to the “open account” button in the top right-hand corner of the screen.
If you have ever signed up to an online broker in Australia before then you will notice that the process for these brokers is all fairly similar, at least in terms of the KYC process. You will first need to provide AxiTrader Australia with some personal information such as your name, surname, email address and country of residence. Once you have filled out all of this information you will then need to know what type of account you would like to use. We will touch on this in more detail later in our AxiTrader review Australia.
From there, you’ll need to give AxiTrader Australia an idea of how much experience you have trading online. This is done by answering a few simple questions and shouldn’t take you longer than a couple of minutes to complete at most. Your last step, and the most important, is to verify your identification. This can be done in a couple of ways but ultimately you need to send through a copy of either your driver’s license, standard I.D. or your passport to verify your account. You’ll also need to send through a copy of one of your most recent utility bills or bank statements to provide proof of residence as well.
And that’s that on that. Once AxiTrader has verified your account you will have a fully operational account to conduct your online trades with.
When you first enter the AxiTrader site you are greeted by an easy on the eye red and white colour scheme. The site is clean and what we mean by this is that everything is laid out in a clear and accessible way.
The actual AxiTrader trader site functions smoothly. While conducting our AxiTrader review we made sure to navigate around the site for a while to test out the loading time and overall intuition of the platform. We were not left disappointed. The pages load quickly and the search bar function at the top of the homepage makes it easy to find what you are looking for. And that is only really needed if you couldn’t already locate everything you needed in the drop-down menus at the top of the homepage.
Overall, our experience using the platform was a joy. The trading tools and trading platforms also functioned fantastically well but we’ll get to that in more detail a little later on in our review.
Choosing an account at AxiTrader is a wonderfully simple process. If you know what you are after in terms of the ownership of the account, then you will have no issue moving forward swiftly. There are three ownership types that include individual, joint and corporate accounts.
Once you have made your choice with the ownership of the account it’s time to make your choice between the standard or pro account options. Both of these accounts have their merits but serve the needs of traders differently.
The two accounts share many similarities but there are two key differences. The Standard account option will see users avoid any and all commission fees on their trades. The Pro account option gives you significantly lower spreads on your trades but you will need to pay a $7 round trip commission fee. Aside from these two differences, each account has exactly the same access to all of the trading instruments on the platform. It really comes down to what you prefer, no commissions or lower spreads.
Fees – Non-trading fees are non-existent
AxiTrader should arguably be considered as one of the best online brokers in Australia off of their low fees alone. There are no commission fees for standard account users and there are no deposit or withdrawal fees for all users. You also won’t have any account fees either or any inactivity fee. Essentially, your non-trading fees are practically non-existent.
Your pro account pricing for an average lot trade is $3.5 with an average spread of 0.4 pips on EUR/USD. The trading fees for forex and CFD crypto trading are generally quite low but you can see this for yourself by checking out the live forex spreads page at AxiTrader.
All in all, AxiTrader makes a concerted effort to keep fees on the platform as low as possible. You won’t find yourself having to keep track of every little charge or cost from your account fees to your deposit costs.
Our AxiTrader review was happy to see the inclusion of MetaTrader 4 and MetaTrader WebTrader platforms on the site. MetaTrader 4 has become a stalwart of the top online broker firms. The platform functions efficiently and makes your day to day trading a breeze.
MetaTrader 4 is typically used by your more advanced trader but after some time playing around with the platform even your more novice trader can make use of its qualities. The trading platform provides you with real-time charting, live pricing, full market coverage of all the commodities, indices, CFDs and cryptocurrencies on the AxiTrader site. It is a flexible trading platform that gives you all the tools you need to make a success of your day to day trading activities.
The MT4 WebTrader platform is essentially the same thing as the MT4 trading platform, only you can access the platform via the web. This means you won’t have to download the app to your desktop or mobile but rather that you can access the platform by simply signing in through your AxiTrader account on the web.
Whatever your preference, the MT4 trading platform is an exceptional tool to not only make your trading easier but to help you improve your overall trading prowess as well. Check out our Easy Markets review to see what other trading platforms are out there.
There are a number of different payment methods available on the AxiTrader Australia site. Users will almost certainly find a method that suits them. Our AxiTrader review found that you could choose from Neteller, Skrill, credit/debit cards, POLi or bank transfers.
There are no fees attached to making deposits or withdrawals with any of these payment methods. Unless our own banking institution charges you for the transactions. Aside from that, you won’t be restricted to a minimum deposit amount, you are free to deposit as much as you like into your AxiTrader account. All deposits reflect instantly except for your bank transfers which will take between 1-3 days to clear.
Our AxiTrader review found that the customer service on the site was of a high standard. We chatted with one of the support staff members and found them to be patient with our very simple questions and most importantly, they were friendly and welcoming.
You can contact the support team at AxiTrader Australia via the live chat feature, their telephone number or simply by sending them an email. We found the live chat feature to be the best route for having your problems or questions resolved quickly as the team at AxiTrader Australia responded very quickly. You’ll be able to contact the support team at any time during the day as they are open 24-hours a day. You won’t be able to contact them on weekends though as the service runs 24/5.
All in all, our AxiTrader rating is high as a result of the quality customer support we received. You can see just how highly we rate them with our AxiTrader ranking. Check out our Fusion Markets review to see how we rated their customer service.
Our AxiTrader review Australia found that the broker is regulated by the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Dubai Financial Services Authority (DFSA). You can rest assured that the broker has arrived at where it is today under close scrutiny from the strictest financial regulators in the world. You can rest assured that there is no AxiTrader scam going on.
AxiTerader, much like all other brokers, needs to ensure the safety of their users’ funds. That is why users’ capital is kept in a separate account from the broker. This is to ensure that no money is used to cover the debts of AxiTrader Australia in the unfortunate event of insolvency. Check out our Macquarie Online Trading review to see how they protect users’ capital as a comparison.
It should come as a little surprise that our AxiTrader ranking is so high. The broker’s low fees alone are cause for celebration amongst Australian traders. But more so than that, the broker also provides an exceptional platform that is welcoming to novice and experienced traders alike. Everyone can find a place at AxiTrader Australia as the platform is easy to use and the trading instruments are diverse.
We can’t speak more highly of AxiTrader Australia if we tried. Our AxiTrader review Australia has hopefully shed some light on why we think so highly of this broker. Check out our OctaFX review or our St George Directshares review for close comparison to AxiTrader Australia.