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AxiTrader offers multiple ways of adding or withdrawing money from the account. The supported methods of payment include wire transfer, MoneyBookers, Neteller, skrill, and bPay. Funds can be added to an AxiTrader account via these payment options. Selected https://forexbroker-listing.com/ companies also have the privilege to allow broker-to-broker transfers where a user can transfer their funds from one account to another within the AxiTrader brokerage. The above platforms and tools help AxiTrader users stay ahead of the curve.
AxiTrader’s regulated environment is monitored by various jurisdictions and maintains compliance with different trading conditions. Based on the regulatory obligations, AxiTrader moderates its leverage. The broker has market-competitive spreads across a wide range of commodities, currencies, and indices. During liquidity, the spreads fall lowest to 0.0 pips, and AxiTrader adheres to ensure that the costs stay competitive. In January 2020, the Australian Securities and Investments Commission also revoked AxiCorp’s license for non-compliance with its regulatory demands.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. In most cases, the need to contact customer support arises when the AxiTrader user faces some minor issues in opening the account or managing multiple accounts. If new accounts lose money when trading with the software for the first time, the customer support staff connects them with experts for quick recovery. MT4 WebTrader also makes an ideal replacement for the traditional MT4 application in terms of functionality and mobility. The MT4 WebTrader is perfect for using its custom scripts to access a trading account on the go.
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.
Forex Risk Disclaimer
The feature ensures that no trader accounts lose money when trading remotely from their mobile devices or web browsers. In October 2020, AxiTrader officially announced rebranding its company from AxiTrader to Axi. From beginners to seasoned traders, AxiTrader has enveloped the globe by becoming an efficient ecosystem of traders, brokers, and trading platforms.
We contacted the broker’s customer support team to resolve the challenges we faced. Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. The Axi brand, formerly known as AxiTrader, is regulated primarily in the U.K., Australia, and the UAE. Axi is a MetaTrader-only broker, with a limited range of available markets.
Is AxiTrader Safe
It also brings down the high risk of losing money in the initial trades by simulating the outcomes of those forex trades. This regulatory suspension, however, has no impact on the international clients that AxiTrader LTD operates. Hence, AxiCorp LTD, which runs AxiTrader, has not suffered any license suspension.
- It is difficult to confirm how the company is mitigating this issue.
- The broker is regulated by the top-tier UK FCA and the ASIC, which have stringent rules and enforcement mechanisms.
- AxiTrader offers the popular app MetaTrader 4 to its clients and does not have a proprietary trading platform.
- It is a broker noted under its regulatory jurisdiction, as mentioned on AxiTrader international website.
This way, if new trader accounts lose money, their loss is insignificant and can be recouped easily. For its regulatory limitations, AxiTrader is often considered to be a high-risk broker. The perceived high risk of losing money when trading on AxiTrader has been debunked in this review. It is a financial service provided globally and is legit for users in the countries regulated under its authorities. AxiTrader and AxiCorp Financial Services Pty LTD are two different entities. The latter is the corporate owner of all the operating subsidiaries.
If your bank is not one of the listed banks, you cannot do a wire transfer. I contacted their chat fully expecting, here are the bank details, please make your deposit, like every other broker in the world. However, here is their reply, “These are subject to regulatory standards and as per our company policy, deposit methods available will always be based on your country of residence. I saw that they accept cryptocurrency deposits and withdrawals, but I haven’t used this method with them yet.
Yes, Axitrader does have an affiliate program, so grab the opportunity to become an Axi affiliate and earn income. We found the PsyQuation tracking tool to be very useful for tracking our trading performance and setting trade alerts. The MT4 platform can be customized to a great extent, but is a bit dated and axitrader review Axi’s web platform can be slow at times. However, you cannot withdraw funds back to a credit/debit card even if you funded your account using this method. We registered our account on 1 January 2022 and it was verified on 2 January 2022. Our account was approved after submitting all the required documents what happens if you don t go to timeshare presentation 2.
Bad experience with the company and the broker
Reply by Axi submitted Nov 18, 2022 Hi Ricardo, thank you for taking the time to leave us a review. Your withdrawal request on the 26th of October was sent to your bank account that same day. In order for us to investigate this matter, please provide us with your full name, registered email address, account number, and the details of your concern. The valued clients of AxiTrader have helped the brand distribute its global revenue base across multiple streams, including overnight fees and dealing spreads. Due to its regulatory compliance and best practice implementation, AxiTrader stays compliant across multiple authorities.
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At the same time, it constructs educational infrastructure to train and upskill traders on new features and strategies. AxiTrader – one of the best forex brokers, is offering its service for more than 70 currency pairs. There are plenty of exotic and minor currencies available for trading on the platform as well. The services provided by AxiTrader’s 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 & highlights what the broker puts forth for its users. Axi offers several cryptocurrency products including Bitcoin, which is the most popular and largest crypto by market capitalization.
AxiTrader Spread Charged in our Trades
There is likely to be a high risk of losing money when trading with the AxiCorp Financial Services Pty LTD because the license stands suspended. Till the time it gets reinstated, traders may find the trading platform a bit dicey. An oversight in the administration of this company has resulted in the suspension of its license.
AxiTrader UK Review
The forex pairs offered comprise 80+ major, minor and exotic currencies, accommodating the global market to accommodate forex clients around the world. With operations in Australia, the UK, and around the world, AxiTrader has a truly international flavor. 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.
Looking at our database, the average forex broker offers 6 of the 11 features variables we track in the commissions & fees category, and has average spreads of 1.04 when trading the EUR/USD. AxiTrader offers 6 of the 11 features, while offering average spreads of N/A which helped contribute to the broker ranking #39 out of 62 brokers in this category. While conducting our evaluations of online forex brokers, we’ve collected over 360 data points that track the research-specific features that are most important to traders and investors. AxiTrader offers 3 of those 5 features, whereas the average forex broker offers 3 of those features.
