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As well, you can strengthen your strategies by Authochartist, as an AxiTrader client getting free access to flexible charts through the sophisticated tool – PsyQuotation. For the ones who hold multiple accounts the integrated software tool Multi Account Manager is a great and available solution, which lets placing of large orders in bulk with speed and no limitation. Opening an account with AxiTrader is quite easy, you just need to follow the steps of the account opening process, verify your details and select the account type of your preference. You can also choose whether you want to open Deo or Live account. Leverage is a quite known instrument, which obviously multiplies the initial capital you trading with and can be a very useful tool to magnify your potential gains, but in case you use it smartly.

During liquidity, the spreads fall lowest to 0.0 pips, and AxiTrader adheres to ensure that the costs stay competitive. The company had made four different counts of brokerage violations under the regulator’s Financial Conduct Act 2013. 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.

Maximum leverage

Also, the broker must provide tight spreads, decent leverage and a whole lot of easy to use and comprehend features that make trading both quick and convenient for their clients. Relatively high entrance threshold ($200) are the reason for speculators to hesitate from registering on the website axitrader.com. However, the authoritative regulation and storage of clients’ funds in segregated accounts in reliable banks gives many professional players confidence in cooperation with this organization.

Despite the slight controversy at the beginning about an offshore license, the broker’s reputation and quality seem to be emulated in several opinions floating around the web as well. When it comes to waiting for the AxiTrader withdrawals, it depends on the type of method you use. Credit/Debit cards take around 5 business days, while Neteller, Skrill, and PayPal are almost instant. The moment we started our https://forex-reviews.org/, it was obvious that the brokerage was a subsidiary of a larger corporation.

Axi’s Trading Tools

As a brand, AxiTrader generates high volumes of cash through its operations and transactions. Its high cash flow generation is further supported by the ability to register an impressive dividend payout ratio. Over the years, it has significantly increased its growth margin due to its process automation, market maturity, and mobile trading.

However, the time to process deposits and withdrawals takes up to five business days. For security reasons, the account name must match where the AxiTrader deposit originates to where the withdrawal is being made. 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.

Is AxiTrader an ECN Broker?

You can search for products easily by typing the name of the product or by navigating the category folders. Verify your identity and residency by uploading either a copy of your ID card, driver’s license or passport, and uploading a copy of a recent utility bill or bank statement. Answer a couple of questions that assess your level of trading experience.

• The prices of contracts for the difference between the stock index and the difference of the commodity market are supplied from the basic tools of the stock market.
• A dedicated multi account manager is provided to all the traders operating an account.
• This information collection process is outsourced to Autochartist or PsyQuation Premium.
• There is a delivery of market reports, done three times every day.
• They are regulated by respected agencies like FCA, ASIC, and DFSA.
• 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.

Meanwhile, other products, such as stocks, ETFs and bond CFDs are not available. Add your bank account details, like IBAN and Swift code (if you haven’t done it before). Axi’s base currency selection is great compared to competing brokers. Axi has low fees for axitrader review trading index CFDs, while stock CFD fees are average. To complete the subscription process, please click the link in the email we just sent you. Overall, not as in-depth as you may expect from a broker of this type, but all analysis is solid and well-written.

Deposit fees and options

Create your login via the Axi website, you will be asked for your name, email address, country of residence, phone number, and whether you want an individual, joint or company account. Axi has a wider selection of indices than other similar brokers, and includes the likes of the NASDAQ, FTSE100, DAX30, and Hang Seng. Since 2018, AxiTrader has the DFSA regulatory status in Dubai.

You can only deposit money from accounts that are in your name. In addition to bank transfer, you can use credit/debit cards, broker-to-broker transfer and several electronic wallets, as well as cryptocurrencies. There is a 3% fee for card payments and other payment methods where deposits exceed a monthly limit of $50,000.Withdrawals are free if they are above $50 or for the full balance of your account. To read much more details about the broker’s services and features, expand on the sections below. Once your application is approved, you can log in and fund your account in the base currency of your choosing.

Spreads

The only flaw that we found with AxiTrader is the slight lack of variety in the software programs, but everything else seems to be either on par with the market standards or surpass them completely. But this review will ask quite a stern question which requires a similarly stern answer. Or is it an illegal offshore brokerage poised to defraud its customers from their investments?

The MT4 WebTrader is best used to get a quick visual overview of the markets, study the charts, and monitor the existing trades. A full module of this web app provides dozens of indicators, which work as drawing tools for completing the order management functionality. AxiTrader has an end-to-end solution for its trading services.

The company also administers a client-only Facebook group, The Trading Circle, which is aimed at promoting constructive conversation and fostering a supportive trading community. Our experts found that AxiTraders spreads are average and low. With AxiTrader you’ll be able to keep your trading costs quite low, as the broker shows market-competitive spreads across a wide range of currencies, commodities, and indices .

Offer of the month

It takes a minimum of two business days for a new AxiTrader account to get approved. Only two options in Vietnam, use your credit card and get charged a cash advance fee, or bank with a bank that has Internet banking with them. 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.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.6% of retail traders lose money when they trade CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of letting your accounts lose money through CFD trading.

AxiTrader is not replicated by the country’s regulator – the Financial Services Authority. It is a broker noted under its regulatory jurisdiction, as mentioned on AxiTrader international website. This website registers the highest share of AxiTrader users every year. Despite the suspension, this review declares no high risk of losing money when trading on the AxiTrader platform. The Axi subsidiary that runs AxiTrader is authorized in St. Vincent and the Grenadines.

These documents are used as proof of the address you provide and ensure that you live in the country you indicated. However, they provide instruments in forex, stock indices, and crypto CFDs. In comparison with other brokers on the same level, like Pepperstone and IC Markets, you can see the fee differences. Pepperstone charges $14.9, $11.9, $3.7 and $12.5 respectively for the same pairs. IC Markets charges $15.8, $10.6, $4.8 and $12.1 respectively. There is no official mention of any AxiTrader deposit bonus or promotion of that kind.

The same year was marked for the broker by the receipt of an FMA license in New Zealand. We’ve very rarely seen the broker to broker transfer feature and it should be commended how AxiTrader managed to partner up with their direct competitors and convince them to have this feature. The fact that that could be the case, removes any and all AxiTrader scam suspicions completely and allows us to review the brokerage from a completely different perspective. Blockchain – 5 Min Read Best ways to invest in cryptocurrency Alex Lielacher | 06 Jul 2022 When most people think of cryptocurrency, they think of Bitcoin. And while Bitcoin is still the biggest and most well-known coin, there are now many other options to invest in.