Binary options are prohibited in the European Economic Area. 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Free $10,000 Demo Account


AxiTrader Forex Broker Review


Launched in 2007, AxiTrader is a leading, international forex broker and one of the largest ECN domestic forex brokers in Australia. Licensed in both Australia and the UK, AxiTrader offers 80+ financial products focused on forex and CFDs including Bitcoin, commodities, indices, forex and metals. We were impressed to see that live trading accounts feature zero-opening balance requirements and up to 400:1 leverage. Moreover, social copy trading using forex signals providers and automated trading with Expert Advisors, is available to all account holders through the user-friendly AxiTrader MT4 trading platform accessible through desktop, Mac and mobile devices. AxiTrader is offered in several languages including English, Chinese, German, Spanish, Russian, Indonesian, Thai, Taiwanese, Polish and Arabic.

AxiTrader is a trading name of AxiCorp Financial Services Pty, (AxiCorp) an Australian company licensed and regulated by ASIC with the AFSL licence number 318232. Additionally, AxiTrader UK is the brand name of AxiCorp Ltd, a wholly owned subsidiary of the Australian company AxiCorp. AxiTrader UK is authorised and regulated by the Financial Conduct Authority in the UK with the FCA number 509746. Whilst AxiCorp is headquartered in Sydney, Australia, the company has offices in Shanghai, London, Chisinau, Dubai and Riyadh and Jeddah providing a broad range of financial services.

Account Features

Trade Bitcoin CFDs with AxiTrader

Reflecting the growing global popularity of cryptocurrency trading, AxiTrader has introduced the underlying asset Bitcoin, to the MetaTrader platform. The BTC/USD CFD is available for trading with leverage up to 10:1, from a demo or a live trading account. Significantly, traders don’t need to run the internet security risks that often come with owning a digital wallet and the physical Bitcoin asset. The biggest advantage of trading in BTC/USD contracts for difference, is that traders can enjoy the potential profits arising from the price volatility typical in bitcoin markets without owning the physical asset.

AxiTrader Trading Account Types

Clients can choose from two account types, the MT4 Standard Account and the MT4 Pro account. Both accounts are designed for trading on the MetaTrader4 platforms available for desktop, Mac and mobile devices.  We saw that Swap-free accounts designed for followers of the Islamic faith are offered by AxiTrader. Importantly swap free admin fees are not applied to FX major and FX minor currency pairs or to precious metals underlying assets. However, positions kept open for 5 consecutive days or more are liable for an admin fee clearly published on the AxiTrader website.

Demo Account

A risk-free demo account with $50,000 of virtual money is available to all AxiTrader clients, irrespective of the type of trading account selected. We saw that the demo account gives access to the MT4 platform and all the underlying assets offered by AxiTrader, for a period of 30 days. During that time, traders can practice with all the trading tools on the MT4 platform including signals for copy trading. Importantly, the demo account lets clients practice in a replica of the live trading environment, with access to real time spreads and fast order execution.

Features Shared by AxiTrader MT4 Standard and MT4 Pro Accounts

Both types of trading account can be opened in the following base currencies: EUR, GBP, USD, CHF, PLN, AUD, HKD, SND, CAD, NZD and JPY. Importantly, clients setting up a live trading account must provide valid proof of ID and proof of address at the time of setting up the account. We found the most striking feature shared by both types of trading account is the ZERO initial deposit requirement, for opening a live trading account with AxiTrader. Both accounts give access to 80+ forex currency pairs, metals and CFDs with flexible leverage up to 400:1 and minimum trading lot size of 0.01. Additionally, both types of account let traders have free access to the AutoChartist service and free VPS. Importantly, both account types are optimised to accommodate third party Expert Advisors for automated trading and for trading with the MT4 mobile trading platforms for Android and iOS powered devices.

Features Exclusive to the MT4 Standard Account

Trading forex and CFDs with the MT4 Standard account means that traders don’t pay commission on trades. However, AxiTrader makes its revenue by widening the spreads between Bid and Ask prices of each financial instrument. We saw that spreads start from 1.0 pips on major forex currency pairs. Notably, traders registering a Standard account can open a ‘MyFXBook’ sub account for auto trading. However, traders can only create the auto trading sub account if they deposit at least $1,000 to the MT4 Standard account. Whilst the MyFXBook’ auto trading account is free of commission, traders pay a part of the spread paid on trades to the AutoTrade provider (up to half a pip of profitable trades). We saw that to set up a MyFXBook sub account traders need to go to the ‘client request panel’ in the MT4 Standard account or request assistance from customer support.

Features Exclusive to the MT4 Pro Account

Traders pay a $7 USD commission on every round trade made from an MT4 Pro account. However, spreads are very tight, starting from 0.0pips on major forex currency pairs.

Trading Software & Assets

AxiTrader provides clients with the most popular forex trading platform in the industry, the MetaTrader4 developed by MetaQuotes, for any internet connected desktop or mobile device. We saw that access to the ‘standard’ AxiTrader MT4 platform is free and does not depend on the initial deposit made by clients in their live trading accounts. The MT4 software for desktop or Mac must be downloaded on the secure client portal at AxiTrader. For convenient trading without software download, clients can launch the MT4 WebTrader from any device with an internet connection.

Mobile Trading with the AxiTrader MT4 Mobile App

For trading on the go, a mobile platform is available through the AxiTrader MT4 mobile app developed for Android and iOS mobile phones and tablets. The dedicated mobile trading app is free from the Apple App Store and the Google Play Store.

Main Features of the AxiTrader MT4 Platform

The MT4 online platform for desktop trading is a user-friendly platform featuring a customisable interface, and high speed, one click trading. The MT4 is packed with trading tools including advanced technical indicators, multiple charts and live streamed market prices for trading forex, commodities, CFDs and indices. Importantly, traders who prefer algorithmic (automated) trading with trading robots can use import third party Expert Advisors to automate trades.

Using MT4 Forex Trading Signals for Copy Trading

Traders using the MT4 platform can access trading signals and thousands of trading strategies, provided under the ‘signals’ tab. The signals are provided for a subscription fee, by global traders using the MT4 platform. These successful traders agree to share their signals with other traders choosing to follow or copy their trading portfolios. Importantly, social trading signals let inexperienced or busy traders copy the trading strategies of ‘top’ traders with proven records of success. Moreover, copying other traders with a similar risk profile, allows traders to save the time normally needed to place trades and monitor markets. It’s worth considering that paying a fee to a signals provider, could be cheaper than paying a fund manager. We also saw that one of the big advantages of following signals providers is that traders can diversify trading risk by using several providers and multiple trading strategies.

AxiTrader MT4 NexGen Trading Platform with Enhanced Features

The AxiTrader MT4 NexGen is an impressively enhanced MT4 trading platform with advanced features not included on the ‘regular’ AxiTrader MT4 trading platforms. To get access to the MT4 NexGen platform, a minimum initial deposit of $1,000 is required. We were pleased to see that a free demo of the MT4 NexGen platform is offered, as well as video tutorials on all the key features of the MT4 NexGen trading platform.

Main Features of the AxiTrader MT4 NexGen Platform

With the AxiTrader MT4 NexGen platform, traders get access to advanced order management tools directly from the charts and a link to excel. Significantly, traders benefit from a correlation trader to cut down money management errors and spot new trading opportunities. Moreover, a sentiment indicator gives traders live insight into how others are trading. Additionally, a powerful alarm management feature lets you get away from your screen and can change the way you trade.

Support Information

Education is very well structured at AxiTrader, starting with the ‘Basics’ in forex and CFD trading, gradually moving up to more advanced forex and CFD trading topics. Importantly, traders have access to free video tutorials and E-Books as well as comprehensive explanations about technical analysis and how to use trading signals.

We saw that traders can use free technical and analytical research published in daily articles by AxiTrader together with live streamed videos shown throughout the working week. To assist them in finding potentially profitable opportunities, clients can also request automated trading signals and technical analysis from the free third party AutoChartist service specialised in recognising trading patterns.

AxiTrader Customer Support

We were impressed by the comprehensive customer support offered by AxiTrader. The service is available 24 hours a day, 5 days a week from the ‘Client Services and Trading Desk’ and on the extensive FAQs page on the website. We saw that the desk begins work at 8 am(AEST) on Monday until 8 am AEST on Saturday. Clients can use the live chat function on the interface, send an email or phone toll-free, one of the 10 country numbers published on the contact page. Alternatively, customers can phone the payable international phone number or request a call back using the prepared form on the contact page.

Banking & Company Information

Clients are given a broad choice of currencies to fund their trading accounts using the AxiTrader Client Portal. Nevertheless, traders must choose a base currency to operate their trading accounts from the following: GBP, CAD, EUR, USD, CHF, AUD, PLN, HKD, JPY, SGD, NZD.  We saw that traders can deposit using multiple secure payment methods. These include popular credit and debit cards, Neteller, PayPal, Skrill, Global Collect (Australian clients only), BPay (Australian clients only), China Union Pay (Chinese residents only), bank transfer and broker to broker transfer. Significantly, deposits and withdrawals are not charged processing or transaction fees by AxiTrader.