Crypto
Forex
78/100
Rating
Go to AxiTrader Crypto
Highlights
  • Can trade Bitcoin and Ethereum and more via CFDs
  • Maximum leverage of 10:1
  • No commission fees with Standard account option
78/100
Rating
Go to AxiTrader Forex
Highlights
  • Average spread of 1.1 pips for EUR/AUD
  • Most forex trades are on margin
  • 76 available currency pairs

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.

Offers and New Customer Experience - A simple KYC process

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.

Usability - Easy on the eye, even easier to use

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.

Accounts - Will it be standard or pro?

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.

Trading Platforms - MetaTrader 4 to take you to the next level

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.

Trading Payments - An array of payment methods available

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.

Customer Service - 24/5 customer support

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.

Regulation and Deposit Insurance - Is AxiTrader safe to use?

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.

AxiTrader Crypto

Crypto Trading Offer - 5 major cryptocurrencies available

Our AxiTrader review found that users can trade cryptos via CFDs on the platform. This means you won’t own any actual crypto but that you can speculate on the price movements by going long or short with your CFD position. Our AxiTrader review found 5 different cryptos that can be traded via CFDs that include: Bitcoin, Dash, Ethereum, Litecoin, Ripple.

Trading Costs - Varied costs depending on your position

The trading costs involved with trading cryptocurrency via CFDs is not wholly clear on the site. Our AxiTrader review took a closer look at some of the cryptocurrency options on the platform and still couldn’t find much in the way of a fee. Of course, you won’t need to pay any commission fees on your trades if you are using a standard account. The fee for your crypto CFD trade will ultimately depend on how long you hold your position.

Trading Conditions - Leverage your trade up to 10:1

AxiTrader gives you some room to manoeuvre, whether you are going long or going short, you can leverage your trade up to 10:1. You don’t have to take on any leverage if you don’t want the added risks for increased losses but AxiTrader does make this option available. Remember trading CFDs can be a risky business, especially when you are going short.

Product Summary - A straightforward crypto offering

The range of cryptos available to be traded via CFDs are not going to blow anyone away but there is still a decent selection of the most valuable cryptos. While you may not be able to own the underlying asset, the leverage provided by AxiTrader still gives you the opportunity for high-value crypto trades.

AxiTrader Forex

Forex Trade Offer - Over 76 currency pairs to choose from

AxiTrader Australia has a strong selection of forex currency pairs available to choose from on the platform including majors, minors and exotics. There are over 76 currency pairs to choose from with everything from GBP/USD, AUD/USD and USD/CAD to EUR/USD, USD/JPY to USD/CHF. AxiTrader Australia is first and foremost a haven for forex trading which is evident with their diverse selection of currency pairs.

Trading Costs - Standard forex fees apply

There are no non-trading fees at AxiTrader Australia but there are standard forex fees that you will encounter. These are called spreads which will vary depending on the currency pair that you are trading. Our AxiTrader review Australia found that at the time of writing the spreads on the major pairs for a standard account were as follows: EUR/AUD 1.1 pips, GBP/USD 1 pip and AUD/USD 1.4 pips. Check out the live forex rates page to see all the spreads on major minor and exotic pairs.

Trading Conditions - No non-trading fees on the platform

As we mentioned before, there are no non-trading fees on the platform for you to concern yourself with which makes your forex trading much simpler. This means you won’t be knocked by an inactivity fee or account fee to start trading.

Your forex trades will almost always be traded on margin though, this is due to the stability of a currency. So, be wary of how much leverage you decide to take on.

Product Summary - An impressive forex offering from AxiTrader

The forex offering on the AxiTrader Australia platform is quite clearly the biggest draw of the broker. With over 70 different currency pairs, we were impressed with the diversity of majors, minors and exotics on the site as can be seen with our AxiTrader rating.

AxiTrader Review FAQ

🔐Is AxiTrader safe for crypto trading?

Our AxiTrader review makes it a top priority to give you insight into the trading conditions on the platform. Not only for crypto trading but for trading on the site as a whole. We leave no stone unturned as we assess the overall safety and security of the site so that you can more confidently answer the question “is AxiTrader safe to use?”.

❓What accounts can I choose from on the platform?

Our AxiTrader review gives you a breakdown of all the available account offers on the site. From the sign-up process to what makes each account unique, we give you insight into what account is going to suit your preferences best. You’ll have a clear idea of what is available to you on the platform before you actually sign up.

💳Is there more than one payment method available?

Payment methods are an important part of any online brokers’ platform. That is why our AxiTrader review gives you a detailed look at what some of the payment methods are on the site for you to fund your account with. It’s important to know that your preferred method is available on the site before you create your account. We try our best to save you time and energy.

Overall Conclusion - Final thoughts of our AxiTrader review

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.

78/100
Rating
AxiTrader Crypto
*****
Go to AxiTrader Crypto
Highlights
  • Can trade Bitcoin and Ethereum and more via CFDs
  • Maximum leverage of 10:1
  • No commission fees with Standard account option

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