Axitrader is a broker incorporated in Saint Vincent and the Grenadines that offers you two types of accounts that allow you to choose between fixed spreads or no commission. The broker will allow you to trade Forex, metals, indices, CFDs and cryptocurrencies. AxiTrader does not require a minimum deposit and, in addition, the broker offers a wide variety of deposit and withdrawal methods without commissions.
While it is true that AxiTrader is a broker that has good characteristics in several aspects, we strongly believe that Capital.com is the best online trading platform because is one of the easiest and cheapest ways to trade CFDs on equities, commodities, indices, Forex pairs and cryptocurrencies anywhere in the world. Capital.com offers you zero fees on intra-day trading, a lightning-fast web platform and their proprietary Negative Balance Protection. Also, Capital.com gives you the best chance at financial success with a clean, easy-to-use interface.
|Ease of Use||8|
|Deposit & Withdrawal Options||10|
|Demo Account & Educational Resources||8|
|Safety & Regulation||10|
What is AxiTrader?
AxiTrader is a broker with 13 years of operation. It was founded in 2007 in Saint Vincent and the Grenadines and is authorized and regulated by the Financial Conduct Authority (FCA) of the United Kingdom, the Australian Securities and Investment Commission (ASIC) and the Dubai Financial Services Authority (DFSA). It is an international broker available in more than 200 countries from around the world, which you’ll find in the following table:
|Afghanistan||Cambodia||French Polynesia||Lesotho||Northern Mariana Islands||Slovenia|
|Åland Islands||Cameroon||Gabon||Liechtenstein||Norway||Solomon Islands|
|American Samoa||Cayman Islands||Germany||Macedonia||Palau||Sri Lanka|
|Andorra||Chad||Ghana||Madagascar||Palestine State of||Suriname|
|Angola||Chile||Gibraltar||Malawi||Panama||Svalbard and Jan Mayen Islands|
|Anguilla||China||Greece||Malaysia||Papua New Guinea||Swaziland|
|Antigua and Barbuda||Hong Kong||Greenland||Maldives||Paraguay||Sweden|
|Aruba (Dutch Antilles)||Colombia||Guam||Marshall Islands||Pitcairn||Tanzania|
|Azerbaijan||Costa Rica||Guinea||Mayotte||Puerto Rico||Togo|
|Bahrain||Cuba||Honduras||Micronesia Federated States of||Réunion||Tonga|
|Bangladesh||Curaçao (Dutch Antilles)||Hungary||Moldova Republic of||Romania||Trinidad And Tobago|
|Belize||Djibouti||Ireland||Montserrat||Saint Helena Ascension And Tristan Da||Turks And Caicos Islands|
|Benin||Dominica||Isle Of Man||Morocco||Saint Kitts And Nevis||Tuvalu|
|Bermuda||Dominican Republic||Italy||Mozambique||Saint Lucia||Uganda|
|Bhutan||Ecuador||Jamaica||Myanmar||Saint Maarten (Dutch Antilles)||Ukraine|
|Bolivia||Egypt||Jersey||Namibia||Saint Pierre And Miquelon||United Arab Emirates|
|Bonaire||El Salvador||Jordan||Nauru||Samoa||United Kingdom|
|Bosnia And Herzegovina||Equatorial Guinea||Kazakhstan||Nepal||San Marino||United States Virgin Islands|
|Botswana||Estonia||Kenya||Netherlands||Sao Tome and Principe||Uruguay|
|Brazil||Falkland Islands (Malvinas)||Kiribati||New Caledonia||Saudi Arabia||Uzbekistan|
|British Virgin Islands||Faroe Islands||South Korea||Nicaragua||Senegal||Vanuatu|
|Brunei Darussalam||Fiji||Kuwait||Niger||Serbia||Vatican City State (Holy See)|
|Burundi||French Guiana||Lebanon||Norfolk Island||Slovakia||Wallis and Futuna Islands|
Pros & Cons
- The spreads are adjusted.
- There are no withdrawal or funding fees.
- There is no minimum initial deposit amount.
- Totally online account opening.
- The investment platform offers customization options.
- AxiTrader is a regulated broker.
- A limited supply of financial instruments.
- Research tools are limited.
- It is not possible to make withdrawals with credit or debit cards.
- Axitrader does not have its own web platform.
- No 24/7 technical support.
- The demo account can only be used for 30 days.
- AxiTrader is not publicly traded.
- The financial information of the broker is not publicly available.
In AxiTrader you can open two types of accounts to trade. In both accounts, you can trade the same assets, i.e. Forex, metals and CFDs, however, the difference between both types of account lies mainly in the type of commission and the spread:
- Standard Account: It offers you variable spread and there is no commission for trading.
- Pro Account: It offers you a fixed spread of 0 pips but you will have to pay commissions for trading.
As we just saw, the trade commission will depend on the type of account you choose. In the case of the Standard account, there is no commission to pay but there are spreads, while in the case of the Pro Account you will find a spread of 0.0 pips but you will have to pay commissions for your negotiations. The commissions themselves also depend on the account’s base currency, and are presented in the following table:
|Account Currency||Per Contract||Account Currency||Per Contract|
In AxiTrader you will not have to pay any commission for withdrawing or depositing funds and there are no restrictions on the minimum opening amount. Additionally, the spreads on the Standard Account are acceptable, starting from 0.4 pips onwards.
The broker loses only one point in this category because there are commissions for negotiating contracts. However, keep in mind that the commissions are low and allow you to access tight spreads.
AxiTrader Fees Score: 9/10
#2 Signup Process
The process of opening an account in Axitrader is completely online so that you can open your account and do the verification process in 24 hours. But, to operate in the account you must wait for the time it takes for your funds to arrive. You must consider that that time will depend on the alternative you use to fund your account. Later you will see an entire section dedicated to deposits and withdrawals of funds.
The broker has a very good registration process but loses a point in its ranking because the speed with which you can operate will depend on the transfer method. Although some methods are instantaneous, keep in mind that you could end up waiting for up to 3 days in some cases. In the best of cases, you should be able to begin trading within a day.
AxiTrader Signup Process Score: 9/10
#3 Minimum Initial Deposit
In AxiTrader you don’t need to meet initial minimum amounts to be able to open your account and start trading or to manage any of the trading accounts offered by the broker.
The broker has the highest rating in this category because you can choose how much to start with, which is great for both beginner and experienced traders alike, and other brokers can require deposits of $500 or more to begin trading.
AxiTrader Minimum Initial Deposit Score: 10/10
#4 Ease of Use
AxiTrader offers you Metatrader 4 (MT4) as an investment platform. This platform has a friendly and intuitive interface despite its advanced features. Also, this platform is very useful and is the most used tool by traders in the world. You will be able to find a large number of chart options, indicators, customization, and plotting tools.
These customization possibilities allow you to be much more efficient when analyzing and making the best investment decisions.
While it is true that MT4 offers you a wide range of analysis and customization possibilities, you must take into account that to master all the analysis resources that MT4 offers, you must dedicate time and effort so that you can fully exploit all the resources that this investment platform offers you.
Axitrader Mobile App
You can use MT4 on your cell phone too. The mobile application will allow you to use the same tools as in the PC version. The app is very well ranked in the Android Play Store 4.6/5 and in the Apple App Store 4.6/5.
Although the AxiTrader trading platform is wonderful, keep in mind that it may take a couple of weeks for you to master the features that MT4 offers you. For this reason, the broker loses points in this category. Cheer up, though! Consider that once you are an expert on this platform, you will hit a home run.
AxiTrader Ease of Use Score: 8/10
#5 Deposit & Withdrawal Options
AxiTrader offers you various methods of depositing and withdrawing funds. Also, you can use different currencies as trading currencies. The base account currencies are AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD and USD.
Please note that all deposits you make must be from an account in your name.
Below you will find a summary table with the payment methods within the AxiTrader platform:
|Payment Method||Currencies||Fees||Time to account|
|Credit/Debit Card||EUR, GBP, PLN USD||Free||Instant|
|Bank Transfers||CHF, EUR, GBP, PLN, USD||Free||1-3 days|
|Neteller||EUR, GBP, USD||Free||Instant|
|Skrill||AED, CAD, CHF, EUR, GBP, INR, SGD, USD||Free||Instant|
|Polish Internet Banking||PLN||Free||Instant|
|Global Collect||See AxiTrader website for more information||Free||3-5 days|
Additionally, AxiTrader accepts fund transfers from other brokers as long as the accounts are in your name.
AxiTrader Deposit & Withdrawal Options Score: 10/10
#6 Customer Support
AxiTrader runs a 24 hour Client Services and trading desk 5 days a week starting from 08.00 am AEST (00.00 server time) Monday morning and ending at 08.00 am AEST on Saturday morning. You can access customer support through the following channels:
- Live Chat
- Australia: 1300 888 936
- International callers: +612 9965 5830
Take into account that the attention of the technical support in most of the alternatives is fast and you will be attended as soon as possible. But, responses from the technical service via email may take up to 3 days. This, added to the fact that the broker only offers a 24/5 customer service instead of 24/7, causes the broker to lose points in this category.
AxiTrader Customer Support Score: 7/10
#7 Asset Classes
AxiTrader offers you the opportunity to trade indices through CFDs of the main stock markets such as Germany, China, the USA, Japan, and France.
AxiTrader currently offers 66 Forex pairs for trading. For example, AUD/CAD, EUR/GBP, EUR/USD, GBP/SEK, etc.
In AxiTrader you can trade precious metals like gold and silver.
You can trade cryptocurrencies on AxiTrader. For example, Bitcoin, Ethereum, Litecoin, etc. But, take into account that the alternatives are limited because you can only trade less than 10 different cryptos.
The supply of financial instruments is limited. Unfortunately, you will not be able to invest in bonds or ETFs. This factor reduces the diversification capacity of your portfolio.
Related: If you’re looking for a broker that offers more options to diversify your portfolio, we recommend you read our Swissquote and Plus500 reviews, as both brokers are very well qualified in terms of asset classes.
AxiTrader Asset Classes Score: 7/10
#8 Referral Program
AxiTrader offers you a referral program with which you can get $100 USD for every qualified trader you introduce to the platform.
The broker offers the possibility of earning extra money through the referral program. However, the bonus could be higher and for this reason, the broker doesn’t perform well in this category.
AxiTrader Referral Program Score: 4/10
#9 Demo Account & Educational Resources
AxiTrader allows you to open a demo account for 30 days. This wonderful tool will allow you to test your hypotheses and investment strategies without risk real money. It consists of a fictitious paper trading account, and it allows you to test the platform.
AxiTrader offers free training to help you learn the basics of Forex and start trading the market. The educational content that you can find in AxiTrader is not very extensive but it is of very good quality. In the portal you can find:
- Online courses
- Forex video tutorials
- Forex basics
- CFD trading basics
Also, AxiTrader has a blog where you will find very interesting articles about the world of finance and the world of business.
The fact that the broker only offers a demo account for 30 days makes it lose points because investors usually need more time to test the investment platforms. This is especially the case with beginner traders who not only have to learn the ins and outs of trading per se, but also how to use and move about inside the MT4 platform.
AxiTrader Demo Account & Educational Resources Score: 8/10
#10 Safety & Regulation
AxiTrader is a heavily regulated broker, and it is authorized and regulated by the Australian Securities & Investments Commission (ASIC), AFSL number 318232.
AxiTrader UK is a trading name of AxiCorp Limited which is registered in England and Wales under registration number 06378544. AxiCorp is authorized and regulated by the Financial Conduct Authority (FCA), Reference Number 509746.
Also, if you choose AxiTrader as your broker, your funds will be protected by The Compensation Fund, which will cover judgments up to €20,000 per client. However, clients from the U.K. are covered for up to £85,000 as AxiTrader is regulated by the Financial Conduct Authority (FCA).
As you can see, in addition to having some of the most important regulators in the world keeping an eye on AxiTrader’s operations, the broker offers insurance to protect your capital. For this reason, AxiTrader has a solid rating in this category.
AxiTrader Safety & Regulation Score: 10/10
AxiTrader vs. Capital.com
Being a winning trader requires a solid investment plan. Take into account that the stock market is a world that is constantly changing and for this reason your strategies must adapt to the movements and innovations of the market. We recommend that you choose a broker that is your ally and that allows you to fully exploit your profits.
In this sense, this broker must allow you to diversify your portfolio internationally with the range of financial instruments that it offers and that also saves you hundreds of dollars in commissions. In this section, you will find a comparison between AxiTrader and Capital.com. After an in-depth market study, we consider that your best ally is Capital.com for the following reasons:
A Better Customer Support
You can call Capital.com at +44 20 3870 3087 or email their support team at [email protected]. You can also visit the Capital.com website and click on Contact Us for country-specific options and to enter a live chat with a Capital.com support agent, plus you will also get a dedicated account manager at no extra cost, which is an incredible value. Another great feature of Capital.com’s support team is that it currently supports 13 different languages.
The Best Investment options
AxiTrader has a good number of financial instruments that you can invest in. However, Capital.com offers you several more possibilities because on its investment platform you will be able to access a greater number of financial instruments. This feature is really important because with Capital.com you will be able to have a greater capacity for diversification when building your investment portfolios.
A Better Demo Account And Educational Resources
One of the key benefits Capital.com offers to all its traders is unlimited access to a demo, paper money account. Unlike AxiTrader’s demo account, which only lasts 30 days, the demo accounts in Capital.com will last as long as you decide to remain their customer. This is great because, even as you become a more experienced trader, you can continue using your demo account to practice new strategies and to test your own hypothesis as time goes by.
Additionally, even though AxiTrader’s educational material is top-notch, it is fairly limited, while Capital.com’s educational resources are vast and of the best quality you will find anywhere on the web.
- AxiTrader is a broker with 13 years of operation. It was founded in 2007 and is authorized and regulated by the Financial Conduct Authority of the United Kingdom (FCA), the Australian Securities and Investment Commission (ASIC), and the Dubai Financial Services Authority (DFSA).
- In AxiTrader you can open two types of accounts to trade: Standard account and Pro Account.
- The process of opening an account in Axitrader is completely online so that you can open your account and do the verification process in 24 hours.
- In AxiTrader you must not meet initial minimum amounts to be able to manage any of the trading accounts offered by the broker.
- AxiTrader offers you various methods of depositing and withdrawing funds. Also, you can use various currencies as trading currencies.
You could benefit from some features that AxiTrader offers you. For example, the broker is very well rated in the categories of minimum deposit, fees, safety and regulation, and deposit methods. If you are an investor looking for a broker with these characteristics, AxiTrader may be a good option for you.
Now, you should keep in mind that AxiTrader could perform better in several respects. For example, they could improve their asset classes, customer support and their demo account. In all these points Capital.com clearly outperforms AxiTrader. In addition, the former is a broker designed to meet the needs of all types of traders, from beginners to experts. For these reasons, we believe that Capital.com is a much more complete and efficient broker.