AxiTrader Review: The Benefits and The Drawbacks
All you need to know about the benefits and the drawbacks of this broker will be covered in our AxiTrader review. Join us as we dive deep into the depths of this trader.
Who Is AxiTrader?
AxiTrader Limited (AxiTrader), is a registered company with the Financial Services Authority. It is headquartered at Suite 305, Griffith Corporate Centre, PO Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines, with the company registration number 25417 BC 2019.
|Legal name:||AxiCorp Financial Services Pty Ltd – AxiTrader Limited|
|Regulation:||Regulated by ASIC, AFSPL, DFSA, and FCA|
|Registered in:||Suite 305, Griffith Corporate Centre, PO Box 1510, Beachmont Kingstown, St. Vincent and the Grenadines|
|Financial Authorities Warnings:||None|
|If a withdrawal is possible:||Yes|
|If Active on Social Media:||Yes|
AxiTrader is regulated by the following:
- The Australian Securities & Investments Commission (ASIC) oversees AxiCorp Financial Services Pty Ltd (AFSPL), which has the AFSL number 318232.
- AFSPL also has FSP 518226, a derivatives issuer license from New Zealand.
- The Dubai Financial Services Authority (DFSA) regulates AFSPL (DIFC Branch), a registered branch of AFSPL, under license number F003742.
- The Financial Conduct Authority (FCA) has granted Axi Financial Services (UK) firm reference number 466201 authorization and regulation.
The only red flag, for now, is that AxiTrader has clients from Malaysia and Canada, but they are not regulated by the Securities Commission Malaysia (SC) or the Investment Industry Regulatory Organization of Canada (IIROC).
As always, we gathered information about AxiTrader’s profile.
|Trading platforms:||Copy Trading and MetaTrader 4|
|Account types:||Standard and Pro|
|Financial Instruments On Offer:||
|Commissions||7 USD roundtrip for every 1 standard lot of trade|
|Education or Extra tools:||Seminars & Webinars, Free eBooks, Axi Blog & Academy, Crypto Glossary|
Is AxiTrader Safe to Trade With?
Being regulated by numerous reputable authorities is excellent, and it’s crucial to be open and honest about fees, account types, withdrawals and deposits, and other matters.
The broker’s transparency didn’t fail us yet again, and we did come across AxiTrader product schedule documents. A product schedule is a complete list of the products and fees offered by the broker. Further investigation will support our theories, but for now, AxiTrader didn’t let us down.
AxiTrader Clients Reviews: What clients can tell us?
The 1,305 reviews for AxiTrader speak for themselves; they have a 4-star rating as a broker on Trustpilot. 88% of the evaluations are favorable, while only 12% are unfavorable, with the majority of these reviews focusing on software and withdrawal concerns. Even though it says the wait time is 1-2 business days, one person had to wait for his withdrawal request to be approved for 2 weeks.
Brokers may occasionally pretend that your withdrawal has been approved before placing the money back in an effort to induce you to trade and reverse the withdrawal. Although uncommon, the strategy is well known. Investing in leveraged products has a significant amount of risk, so consulting a professional is a must. Book your free consultation today.
How Does AxiTrader Platform Reach Clients and Who Are They?
First, they reach clients with the AxiTrader Affiliate and Referral Program. If you become a Master Affiliate, you can make up to $1000 USD CPA per qualified client and 10% commission on Sub-Affiliate profits. When your recommendations make trades, you are paid through the Axitrader referral program. On each exchanged lot, you can make up to $15.
Since they were founded in 2007, they have gained recognition for delivering a secure trade environment. AxiTrader’s clients come from:
- United Kingdom
Additionally, AxiTrader maintains offices in several countries including SVG, the UK, Australia, and South Africa. They provide security to their investors by maintaining a physical presence.
AxiTrader Trading Accounts
The Pro Account offers improved trading conditions which is more suitable for seasoned traders. If you follow Shariah law, you can open an Islamic account. Demo Accounts are another feature offered by AxiTrader for practicing trading with fake funds that are available on the AxiTrader login page after you open an account.
The Pro account does charge a commission of $7 round trip per lot (3.5$ to open a trade and close it), but it has a spread that starts at 0.0 pips. The minimum trade size is 0.01 lots, and it includes 140+ trading products and 10 base currencies.
Commissions are not charged with the Standard account, but you can expect a higher spread that starts at 0.4pips. It is more suitable for novice traders, especially in addition to the Copy Trading platform.
Tip: The AxiTrader minimum deposit depends on your payment option, not the account type. For more info, check the AxiTrader Add Funds page.
Deposits and Withdrawal Methods
The payment options available at AxiTrader:
- International Bank transfer
- Debit and Credit Cards
- Crypto payments
- Internet Banking
AxiTrader Trading Platforms
AxiTrader provides MetaTrader 4 and AxiTrader Copy Trade platforms, that are accessible as desktop programs, web-based platforms, and mobile phone apps.
Using the copy trading platform, you can study the strategies of the top traders and copy them. You must choose a trader to copy, then define your boundaries and begin copying. You can use the AxiTrader client portal to log in.
Pros and Cons of AxiTrader
Expert Opinion Of The Author
AxiTrader offers a low minimum deposit amount, a demo account to test them out before committing, and they are perfect new traders by providing the Copy Trade platform. They have a solid reputation among traders to their dedication to transparency, legal compliance, and client happiness.
Overall, it is safe to trade with AxiTrader. We regret that this cannot be said for every broker we discuss in our articles. If you contact us immediately, we can help you identify a broker that best suits you.
What Is The Best Trading Platform For Beginners?
Due to its user-friendly design and accessibility of demo accounts for practice, MetaTrader 4 is regarded as one of the finest trading platforms for novices. Another choice is eToro or Plus500. Contact us today and we will find a broker suited for your skill level.
How To Trade Stocks?
To trade stocks, you must first open a brokerage account, research the stocks you want to trade, evaluate their performance and financials, then place buy or sell orders with your chosen broker. Contact us if you're looking for a reliable stock trading broker, obligation free.