We aim to provide you with all the information in this Axitrader review you need to determine if Axitrader is the right fit for you. But we don’t stop there – we also offer valuable insights into other great alternatives to Axitrader, so you can make a more informed decision and compare other brokers against Axitrader. Well, if you are looking for a well run and fully regulated broker with strong customer support and a reasonable product offering then it could the broker for you.
- However, if you really did want to keep on practicing past 30 days then you could always re-register with another email address and password.
- You must be diligent and thorough in your Axitrader review selection process to safeguard your hard-earned money.
- If you do high volumes and you have extensive experience trading then the pro account is definitely for you.
Now that we have looked closely at Axi, it is appropriate to delve deeper into its features and offerings. It is worth noting that for Android and iOS usage, there are two Axi apps available. Firstly, there is Axi’s copy trading app, meant for replicating the strategies of top traders. Plus, there is the mobile version of the MetaTrader4 Axi trading interface. 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.
It is available as a desktop client, where traders get the full functionality of MT4, a light web-based platform, and a mobile app. Axi advertises a minimum mark-up of 0.4 pips in its commission-free trading account. During the London-New York overlap session, I received a 1.1 pip spread for the EUR/USD or $11 per 1.0 standard lot. It is an above-average trading cost, and I recommend traders avoid it. The commission-based Axi account delivers as advertised, with raw spreads of 0.0 pips for a commission of $7.00 per round lot, which resembles a competitive pricing environment. Axi stands out with its state-of-the-art technology that redefines the trading experience.
Axitrader Review 2024
Compared to similar competitors, Axi has a great base currencies offering. The previously mentioned facts combined with our research on Axi’s user opinions and online reviews still grants them a safe broker status. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information.
The MyFXbook is an AutoTrade service that needs to be connected with the main account with a minimum deposit of $1000. After signing the declaration, the last step is to fund the account to begin trading at AxiTrader. There is no lower limit on minimum deposit as traders can deposit as low as $1 through their preferred method of investment. To start the account opening process at AxiTrader, traders need to visit the official AxiTrader website and visit the account opening page.
For those who do not know, MT4 is a third-party trading program that was developed by a company called Metaquotes. This is one the most widely used external trading software currently on the market. You also have to consider the risks that come with leverage of up to 400x. While this could be a great way to enhance your returns there is also a large downside risk.
AxiTrader Security
Axi offers different leverage levels to its clients depending on the entity under which they registered their accounts. You can run most types of trading strategies as the broker allows high-risk strategies such as hedging and scalping. The main difference with Islamic accounts is that instead of daily swap rates, there is an administration fee charged if you hold positions for more than 3 nights. Axi does not charge other non-trading fees such as account inactivity fees or deposit and withdrawal fees. We placed 3 trades for each instrument to get a complete picture of the average spread. We tested the Standard Account with AxiCorp Limited which charges a spread on all tradable instruments.
Traders should consult with AxiTrader or refer to their website to confirm the specific research and educational resources accessible to them. The execution speed may not fully mimic https://broker-review.org/ live trading, and some account features might be limited. It’s a valuable tool for practice, but traders should be aware of the distinctions between demo and live trading.
Does Axitrader offer a demo account?
Albeit, the somewhat negative FPA sentiment on that matter, we remain impressed by the quality of the support and invite our visitors to leave their feedback to form a more well-rounded opinion. While reviews from non-user generated website are usually more well-structured and in depth, they may also fall short on the objectivity spectrum. Brokers do incentivize many third party-websites to write favourable reviews. To get the most out of the review process, make sure to check multiple sources and examine their credibility.
AxiOne
It is important to note that Axitrader may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, axitrader review and you can start exploring the Axitrader platform and features immediately. However, you must pass the verification process to start live trading with Axitrader, which can take up to a few business days.
The trading platform provides many powerful and unique indicators, quantitative models that are at an institutional grade level and trading signals that are updated frequently. It’s a powerful trading tool that can seriously boost any traders’ performance by providing high quality information and highly relevant data. Although traders have had great success with Axitrader, trading on the financial markets with Axitrader is not a get-rich scheme.
Cards and e-wallets deposits are credited instantly while it can take 1 to 3 business days for bank transfer deposits to be credited to your account. Although the broker recommends a minimum deposit of $200 to enable you to open larger trade sizes, you can deposit less than this amount. There mandatory minimum deposit on Axi is US$5 for cards and e-wallets, while bank transfers have no mandatory minimum deposit amount. Average spreads during peak trading hours for majors like EURUSD is 1.4 pips on the Standard Account and 0.3 pips on the Pro Accounts, but this changes as the market moves. To get a swap-free Islamic Account on Axi, first, create a standard account then contact the Axi Client Service (custom support) team to convert your account to a swap-free status.
AxiTrader’s demo account offers a risk-free environment for traders to practice and learn with real market conditions and access to educational resources. However, it has a limited duration, and there can be emotional differences when trading with real money. As GBP is available as the base currency no currency conversion fee will be charged for GBP deposits. The safety of clients and their deposits at a financial service provider majorly depends on the regulatory authority that regulates the firm. This authority that regulates a broker is responsible for the safety and welfare of the traders and investors.
Since this demo account only lasts a month, you can’t go back to it to try a new strategy once you have been trading for a while. Pepperstone is another Australian based and ASIC regulated Forex and CFDs provider with a strong offering and excellent trading conditions. Unlike IC Markets, Pepperstone needs to comply with ESMA rules for their European clients because they are also regulated by the FCA of the UK. Trading financial instruments such as cryptocurrency and foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.