This means that there is no actual buying or selling of the instruments but only the price difference is speculated and cash-settled to book profits or losses. ECS doesn’t retain responsibility for any trading losses you might face as a result of using the data hosted on this site. ECS is not a Financial Services firm and does not operate as a financial services firm.
In the next step, traders need to provide further details of their name, date of birth, and address. These details will be verified by submitting a soft copy of the documents. For a detailed review of fees charged at AxiTrader, we have separately described each component of trading and non-trading fees. All forms of trading carry a high level of risk so you should only speculate with money you can afford to lose. The FAQ list is comprehensive and since some of the basic information was not easily accessible on the website pages, this was a clear benefit to new traders. While reviews from non-user generated website are usually more well-structured and in depth, they may also fall short on the objectivity spectrum.
Spread Betting Account
Axi is a reputable broker offering a solid amount of FX instruments, albeit a relatively small number of CFDs via it’s FCA and ASIC-regulated entities. For a full list of all of the CFDs on stocks and local indices, check their website Axi.com. AxiTrader’s customer support team was helpful and provided direct and relevant answers to our questions, but not at all times. On our first interaction with the customer service team via live chat we received an inaccurate answer to our question. On Axitrader’s platform, you’ll find a well-structured user interface that prioritizes ease of use.
How to Open Account at AxiTrader
The broker’s average spreads for the popular instruments in each market was below industry averages. The FCA also guarantees traders registered under the UK entity deposit compensation of up to £85,000 in case the broker goes bankrupt. Withdrawing money from Axitrader processing time varies depending on the method but averages 1-5 days. While it may be a new skill set for some, it is what the market requires for success. Even if an Axitrader trader experiences a significant loss, they will never owe more money than what is available in their Axitrader account balance. On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease.
With Negative balance protection, traders cannot lose more money than they have deposited. It’s worth noting that the expiration date of the proof of address document may differ for different entities under Axitrader Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you’ve passed compliance, you can start exploring Axitrader’s platform.
Upon completing the signup process, users will receive login details via email, which they can use to access their accounts. Whatever you are looking to trade, the varying Axitrader account types will be able to provide you with what you need. With Autochartist, Axitrader traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save Axitrader users time and makes the trading process more efficient. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. Axitrader may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients.
Axitrader Compared To Other Brokers
AxiTrader offers support via live chat, email, and phone, ensuring that you can reach them through the medium that suits you best. Stocks, currency and other commodities and instruments will be brought or sold by Axitrader even if no buyer or seller is lined up. After extensive research over several years, we have compiled a list of the most effective Axitrader alternatives available today. If you are unsatisfied with Axitrader or want to explore other options, we recommend checking out our carefully curated list of highly-rated Axitrader alternatives. Follow the links below to learn more about these Axitrader broker alternatives and choose the one that best suits your trading needs. It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results.
- ECS is not a Financial Services firm and does not operate as a financial services firm.
- Axitrader traders can navigate the platform and find the information they need to make informed trading decisions.
- AxiTrader was launched in 2007 and keeps the clients’ funds in a segregated bank account.
- We’ve gone through, authoritative user-generated and broker listings/reviews websites to, hopefully, offer more clarity on the reception among its clients.
- Axi explains its products and services well, and I believe most traders will not require assistance.
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 2023 and it was verified on 2 January 2023. Cryptoasset investing is highly volatile and unregulated in some EU countries.
AxiTrader Spread Charged in our Trades
Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.
Axi Overview – A competitive trading environment for algorithmic trading and scalpers. This could be an attractive solution for those professional traders who trade high volume through their algorithms. Something else that you will most likely want to make use of is the Economic calendar. These are pretty standard for Forex traders and is used to mark all the important Economic announcements that are coming up over the coming weeks / months. For those traders who prefer to watch videos for guidance, AxiTrader has included a host of video tutorials on demand. These tutorials help those traders new to the MT4 platform about how to set it up and make the most of its functionality.
In an unfavourable market move, leverage can result in a loss that exceeds the trader’s account balance, leaving them with a negative account balance. If a Axitrader trading position does not go in your favour, this is where negative balance protection comes in handy. When using Axitrader, the minimum trade size is typically 0.01 Lot units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. With STP execution on the Axitrader platform, traders can anticipate tighter spreads and greater transparency when it comes to trade pricing.
The commission of $7.00 per round lot remains competitive, and spreads start as low as 0.0 pips, an ideal combination for algorithmic traders and scalpers. 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. 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. More recently, the broker has tried to appeal to customers with their offer of some of the lowest spreads on the market.
- They recommended we do a bank transfer, which we did and were successful.
- The safety of clients and their deposits at a financial service provider majorly depends on the regulatory authority that regulates the firm.
- So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account.
- Additionally, you can benefit from their user-friendly interface and access to advanced trading tools, which can significantly enhance your trading strategy.
The deposits as well as withdrawals are free of any additional commission and do not have any axitrader review lower limits. Clients residing in the UK can deposit and withdraw at AxiTrader through Debit/credit cards, e-wallets, bank transfers, and cryptocurrencies. Executives at AxiTrader will verify your details with the document before you can start trading. Once the account is verified, the account opening process is almost complete.
So, take a seat, grab a cup of coffee, and dive in to learn about Axitrader and how it can benefit you or if Axitrader is not for you. Though AxiTrader is a highly trusted and regulated forex and CFD broker, it has its strengths and weaknesses. In this review, we will take an in-depth look at AxiTrader, exploring its features, pros, cons, and more. By reading this review, you will gain a better understanding of whether AxiTrader is the right broker for your trading needs and preferences. Axi offers a well-rounded educational program, making it a good choice for beginner traders. Tobi Opeyemi Amure has more than seven years of experience as a financial market analyst.
For instance, using CFDs, you use the Axitrader trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position. To open a trading account with Axitrader, individuals can sign up on the Axitrader website.