About Axitrader
In the world of trading financial instruments, forex pairs have been one of the most lucrative assets ever. By registering high returns, forex trading has instantly profited investors around the world. However, the domain of forex trading is not so easy for everyone to champion it.
Axitrader Overview
| Official Website | https://www.axi.com/ |
| Headquarters | Australia |
| Found in | 2007 |
| Regulators | FCA, ASIC, DFSA, FSA |
| Products offered | Forex, CFD, Crypto |
| Minimum Initial Deposit | There is no minimum deposit requirement |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| Trading Fees | Low |
| Inactivity fee | No |
| Withdrawal fee | $0 |
| Supported currencies | AUD, USD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, CAD |
| Customer Support | 24/5 |
Since there is a high risk of losing money when trading forex, it is important to decode the complicated trading process and implement some effective trading strategies. Things become simpler when trading brokers offer their financial services to assist people in their trader journey.
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. The platform serves as a broker to millions of traders around the world.
From beginners to seasoned traders, AxiTrader has enveloped the globe by becoming an efficient ecosystem of traders, brokers, and trading platforms. Like any other platform, AxiTrader has also been thoroughly reviewed to clear out the doubts raised by traders.
In this AxiTrader review, different aspects of this broker have been explored and analyzed. The services provided by AxiTraders trading platforms and tools have been tested to gauge their efficiency. From its pricing spreads to its key features, this AxiTrader review dives deep into the core of AxiTrader and highlights what the broker puts forth for its users.
What is AxiTrader？
Founded in 2007, AxiTrader started as an Australia-based forex broker service. It is primarily regulated by the Financial Conduct Authority and the Australian Securities and Investments Commission.
The global financial authority in Dubai Financial Services Authority also governs the workings of AxiTrader. Being a heavily-regulated broker, AxiTrader is widely considered safe. In 2020, the broker is compliant with several top-tier authorities.
In October 2020, AxiTrader made an official announcement of rebranding its company from AxiTrader to Axi. Trader communities of the platform will be rebranded accordingly. With this announcement, the AxiTrader UK – the trusted regulated forex brokers UK entity further launched a one-year sponsorship of Manchester City FC, a British football team, which is considered to drive brand awareness in mainstream media and increase its popularity concurrently.
On the technical side, AxiTrader is the official trading name of the company – AxiTrader LTD. As a broker, AxiTrader is a company that is supposedly regulated and authorized in St. Vincent and the Grenadines regions Financial Services Authority.
The AxiTrader LTD company is a fully-owned subsidiary of Australia-based AxiCorp Financial Services Pty LTD. The AxiTrader review further discovered that in July 2019, New Zealand‘s Financial Markets Authority suspended AxiCorp Financial Services Pty LTD’s derivatives issuer license. The company had made four different counts of brokerage violations under the regulators Financial Conduct Act 2013.
According to the regulator, AxiCorp Financial Services Pty LTD lacked some proper procedures and resources, on account of which its license is set to remain suspended until the broker rectifies the violations. In January 2020, the Australian Securities and Investments Commission also revoked AxiCorps license for non-compliance with its regulatory demands.
This regulatory suspension, however, has no impact on the international clients that AxiTrader LTD operates. Both entities are different and fall under distinct jurisdictions. Hence, AxiCorp LTD, which runs AxiTrader, has not suffered any license suspension. It remains fully compliant with all the designated regulators. While these issues fall under its corporate umbrella, AxiTrader continues to work as a genuine broker, expanding its market share across the globe with every passing year.
Working of AxiTrader
AxiTrader – one of the best forex broker Australia that is offering its service for more than 70 currency pairs. This gives the broker ample coverage in the forex trading market. There are plenty of exotic and minor currencies available for trading on the platform as well.
The broker delivers its services for hard and soft commodities, including 31 equity CFDs and 6 cryptocurrency CFDs. The asset selection of this broker is quite limited, which makes a proper diversification of cross-assets unfeasible.
AxiTrader‘s pure Forex accounts have the privileges to select assets and indices with proper diversification. Moreover, AxiTrader helps new retail traders start their first trading account before becoming advanced traders and running into the platform’s limits sooner or later.
It also brings down the high risk of losing money in the initial trades by simulating the outcomes of those forex trades.
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