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Should the broker ever become insolvent, your funds will be returned to you. 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 axitrader review trading prowess as well. Check out ourEasy Markets reviewto see what other trading platforms are out there. Our AxiTrader review was happy to see the inclusion of MetaTrader 4 and MetaTrader WebTrader platforms on the site.
We tested the entire process when opening our account, and it was fully digital. Axi is licensed by 4 regulators globally including the top-tier UK’s FCA, Australia’s ASIC, Dubai’s FSA, and St Vincent and the Grenadines FSA. In order to start trading with AxiTrader, you have to deposit at least 0 USD.
What Do You Need To Trade On AxiTrader?
Since Axi has an exceptional reputation, I do not view this as an issue. Axi is a member of the Hong Kong-based Financial Commission, featuring a €20,000 compensation fund. A $1,000,000 client money insurance policy is also in place, making the unregulated St. Vincent and the Grenadines unit the best-protected one with the best trading conditions.
AxiTrader platforms do not require upgrades as the service delivers them with their most powerful versions. It uses MetaTrader 4 as its dominant trading platform, and this standard approach helps it attract retail traders. One of the top forex brokers in the forex trading market is AxiTrader. Over the years, AxiTrader has become a sought-after name in the forex trading market.
Initial axitrader.com review
Here at Wetten, we don’t mess around as we assess the overall qualities and safety measures in place at AxiTrader. We’ll let you know for sure whether or not we think AxiTrader is a safe enough broker for you to conduct your trading with. 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.
Provide the email address, phone number, country of residence, and other particulars in the online application form. The use of these applications is suitable for specific circumstances, which is why AxiTrader clients must determine their use for their needs. The MT4 WebTrader eliminates the compulsion of using the platform’s desktop application and helps you run the same software on your web browser. We tested it and collected the options and costs in How to withdraw money on Axi. Check out the current account balance requirements at Axi in our What is the minimum account balance at Axi article.
What really put the cherry on top for us was the fact that they were quite open to traders visiting their account managers at the offices. This adds further weight to their «personal touch» argument but you will have to call prior to arriving to make sure that they manager is present. While this looks like a pretty attractive asset offering, there seems to be a distinct lack of any single name equities to trade. This is unfortunate for those traders who like to open positions on particular companies. The broker has kept expanding since then and started offering their services in China in 2015 and the middle east and Germany in 2016.
In addition, the material is given in a comprehensive way without professional terminology. Axi offers some of the best swap rates industry-wide, something I urge traders to consider who keep positions open overnight, as it makes a notable difference. Axi does charge an inactivity fee, which adds to the excellent cost structure. Here is a screenshot of the Axi MT4 Pro trading account during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Despite the suspension, this review declares no high risk of losing money when trading on the AxiTrader platform.
Add your bank account details, like IBAN and Swift code (if you haven’t done it before). A bank transfer can take several business days, while payments with a credit/debit card or electronic wallets are instant. Axi’s base currency selection is great compared to competing brokers.
What is AxiTrader?
The technology infrastructure of AxiTrader is built with advanced trading tools. They provide complete support to the automated trading experience. They run backtesting on features and user capabilities and support thousands of registered third-party plugins.
MetaTrader has long been an industry standard and there’s just no way of going wrong with it. We recommend that you open your account with the UK entity since it is the only one that offers deposit protection to traders if it is available to you. This is one of the world’s most advanced data analytics platforms for retail traders. It makes use of some of the most sophisticated algorithms which will analyse your own personal trading style to give you hints and tips about how to improve it. This allows you to follow the trading strategies of a group of professional traders. You can also make use of algorithmic strategies that have been developed by these same professionals.
Secondly, although they do offer cryptocurrency trading, the margin levels are very disappointing. With an 80% margin on all crypto pairs, it means that you are only getting an effective leverage of about 1.25x. For those traders who want more leverage they should try the likes of IQ Option and Plus500.
If a broker goes bankrupt, eligible customers would also be protected by the FSCS up to £85,000 per claimant per firm. For forex and CFD brokers you’re also covered by negative account balance protection. A non-UK citizen is treated the same way as a UK resident in case something goes south. We think the most important feature is to be regulated by at least one trustworthy authority. With a CFD and forex broker, it’s also a cardinal info whether the broker provides negative balance protection or not.
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. 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.
- This is because it is easier to complete your charting on this and there is also much less latency than there is on a web version.
- Axi has support in 6 languages in around 12 countries that are trading with the firm.
- However, these are relatively easy to rectify and it is possible that with enough requests, they could include them.
- And what’s more, transactions are commission-less (below $50,000).
A risk warning, that CFDs are complex instruments that pose the high risk of losing money, needs to be issued at this point. Axi processes withdrawal requests within one to two hours, ensuring traders get swift access to their capital without complications. There are no internal fees, but third-party processor costs apply. I recommend traders check with their preferred one to ensure the most cost-efficient method. Traders must request withdrawals from the secure client portal, and the name of the Axi account must match the one on the payment processor or bank account. I like the hassle-free withdrawal approach at Axi, as it adds to peace of mind when trading.
Platform Info
You should, therefore, only trade with money you can afford to lose. Please also make sure to read through all available legal advice on IC Markets’ website I you have any questions or concerns. To maintain online security, AxiTrader does stringent compliance checks as per the standards of various regulatory authorities, AxiTrader keeps client funds in segregated trust accounts in top tier banks. The client funds of the UK enjoy coverage from the Financial Services Compensation Scheme of over £50,000 in a highly unlikely case when AxiTrader becomes bankrupt. Even if you do not know how to use any of these platforms, AxiTrader provides detailed guides for all traders.
You won’t be able to contact them on weekends though as the service runs 24/5. Our AxiTrader review found that the customer service on the site was of a high standard. https://forexbroker-listing.com/ 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.