|Platform||MT4 for PC, MT4 for Mac, MT4 WebTrader, MT4 for Mobiles, MT4 NexGen, MT4 Forex Trading Signals, MT4 Multi Account Manager|
|Minimum account size||AU$0|
|Minimum lot size||0.01|
|Spread on EUR/USD||0.1 pip|
|Payment methods||Credit/Debit Card, Neteller, Skrill/Moneybookers, Local to International Bank Transfers, BPAY, China Union Pay, WeChat, Bank Wire|
|Demo account||Yes with 30 days trial period|
|Accepts Australian traders||Yes|
|Regulated||FCA (UK), ASIC (Australia)|
|Support||Email, Phone, Live Chat|
- Tight spreads
- AU$0 minimum account size
- Locally regulated by the ASIC
- Has a physical office in Australia
- Analysis and tracking tools
- Demo account valid for 30 days only
- No minimum stop loss and take profit only available for Pro accounts
AxiTrader was founded on 2007 in Sydney, Australia and since then they have expanded their services to other countries as well. In this review, we will cover the most common questions about this broker and will help you see the pros and cons.
There’s the industry standard MT4 platform which has all the tools and features that are needed for trading forex and CFDs. They have platforms for PC and Mac computers and if you want to trade on the go, you can install their customized mobile trading apps for iOS (Apple) and Android-powered devices. There’s also the MT4 NexGen which you can use for integrating advanced management tools while the MT4 Forex Trading Signals for copying strategies of other traders and lastly, the MT4 Multi Account Manager for controlling multiple accounts using a single terminal. With so many options, we are grading them with a Platform score of 9/10.
They have done a good job in making the layout of their platforms very simple and user-friendly. Regardless of which platform you are using, you can easily access the trading interface and all the controls without any lags or delays and this merits a Design score of 4/5.
The minimum account size is one its major advantages because there is actually no minimum. You can fund it with any amount that you’re comfortable with and begin trading which is why we are giving them a Minimum Deposit score of 5/5.
Minimum Lot Size
With AxiTrader you can place minimum lot size of 0.01. This is similar to the standard size that is followed by almost all brokers in the industry and for this they deserve a Minimum Trade score of 4/5.
There are 80+ instruments that can be traded on the platform which includes currency pairs, bullion, metals, commodities and indices. It may not be in thousands but they already have a diverse range of markets and based on our grading system, they notched a Tradable Assets score of 3/5.
Trading costs are much lower with this brokerage because they offer very tight spreads across a wide range of markets. In fact, they can go as low as 0.0 pips even when markets are very liquid. The EUR/USD pair for example can have a low spread of 1 pips for the Standard account and 0.1 pips for the Pro account. This warrants a Payouts score of 9/10.
All withdrawals are processed within the same day if the request was submitted within their working hours (Monday to Friday 9am – 3pm AEST). Otherwise, it will be processed on the next business day. With such speed, they definitely deserve a Withdrawal Time score of 10/10.
Deposit and Withdrawal Methods
A variety of payment methods are supported by this brokerage. They accept funding via credit and debit cards, Neteller, Skrill/Moneybookers, Local to International Bank Transfers, BPAY, China Union Pay, WeChat and Bank Wire. Since they almost covered all the major payment options, they received a Deposit and Withdrawal Methods score of 5/5.
Their customer service agents can be reached 24 hours a day on weekdays via their toll-free Australian phone number, email and live chat. You can also request for a call back by filling-up a request online via their website. We never experienced any long waiting time whenever we try to contact them and all of our questions and issues were handled quickly and professionally. Overall, we were highly satisfied with the customer service quality and this deserves a Customer Support score of 10/15.
Their platforms are able to electronically aggregate real-time prices from trusted liquidity providers so price changes even if they are small are in near to real-time. This institutional-grade pricing definitely warrants a Quote Accuracy score of 8/10.
AxiTrader has been in the business for a decade and has an active license from the Australian Securities and Investments Commission (ASIC) which is a trusted local regulator. They are also regulated by the Financial Conduct Authority (FCA) in the UK. This means that they are in compliance with well-known financial regulators but aside from these facts, they have a huge number of satisfactory user comments and reviews from Australia based on the extensive research that was done to know their standing in the market. Based on our grading system, they were able to get a Reputation score of 12/20.
Final Score: 79/100