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.
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.