What is AxiTrader? Is it Evaluated as Safe or a Scam?

AxiTrader is a forex broker based in Australia, established since 2007. It is regulated by various financial authorities worldwide, such as the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), along with the Dubai Financial Services Authority (DFSA).

What is AxiTrader? Safe or deceptive?

AxiTrader is considered a secure cryptocurrency trading platform as it has been in operation for a long time, regulated by numerous leading authorities.

AxiTrader is a trading platform based in Australia.

1. Pros and Cons of AxiTrader

The AxiTrader trading platform is suitable for forex traders familiar with the MetaTrader 4 platform.

2. Transaction Fees

3. Initiate an Account

User-friendly registration interface provided by AxiTrader.

Opening an account at AxiTrader is seamlessly automated. However, investors can expect an approval process that takes approximately 2-3 business days.

3.1. Who Can Open an AxiTrader Account

AxiTrader welcomes clients from most countries, with some exceptions such as residents in the United States, Iran, Iraq, Japan, etc. Residents in New Zealand are also excluded due to a local regulatory suspension of licensing.

3.2. Minimum Deposit

AxiTrader does not impose a minimum deposit requirement.

3.3. Account Types

There are 3 account types based on ownership:
+ Personal: Owned by an individual
+ Joint Account: Owned by multiple individuals
+ Business Account: Owned by a legal entity

Additionally, there are 3 different account types in the fee structure:
+ Standard Account: No commission fees, typically higher spreads\
+ Pro Account: Rebate commission of 7 USD, lower spreads
+ Spread Betting Account: Tax-free account, exclusive to UK residents

3.4. Account Opening Process

Creating an account on AxiTrader is straightforward, but you'll have to wait for 2 to 3 business days. Steps to open an AxiTrader account:
+ Provide some personal information, such as your email address or country of residence
+ Choose the account type
+ Answer a few questions assessing your trading knowledge
+ Verify identity and residence by uploading a copy of ID, driver's license, or passport, along with a bank statement.

4. Deposits and Withdrawals

AxiTrader does not charge withdrawal or deposit fees. To deposit, you can use bank transfer, credit/debit cards, and e-wallets. However, for withdrawals, only bank transfers are available.

4.1. Base Currency Accounts

AxiTrader offers a wide range of base currencies: EUR, GBP, USD, PLN, CHF, AUD, CAD, HKD, JPY, NZD, SGD.

4.2. Deposit Fees and Options

AxiTrader does not charge deposit fees.

In addition to bank transfers, you can use credit/debit cards and the following e-wallets:
+ Neteller
+ Skrill
+ Fasapay

Credit card deposits can be processed instantly, while bank transfers may take a few business days. Additionally, you can only deposit funds from accounts in your name.

4.3. Withdrawal Fees and Options

AxiTrader does not charge withdrawal fees; however, you can only use bank transfers for withdrawals.

5. Web Trading Platform

AxiTrader utilizes a third-party trading platform.

AxiTrader offers the MetaTrader web trading platform, known for its high customization, multilingual support, and transparent fee reports. However, it lacks two-step authentication and has an outdated design.

AxiTrader doesn't have an in-house developed trading platform; it relies on MetaTrader 4, a third-party platform with an aged interface that is not user-friendly.

Additionally, AxiTrader provides investment portfolio reports and clear fee breakdowns. You can easily track your profit/loss balance and view the commissions paid. These reports can be found in the History tab.

6. Markets and Products

AxiTrader exclusively offers forex, CFDs, and cryptocurrencies. It lacks real stocks, ETFs, mutual funds, bonds, options, and futures.

7. Is AxiTrader Safe?

AxiTrader, a 12-year-established brand, is not listed on any stock exchange and lacks a parent bank.

Founded in 2007, AxiTrader has a long operational history, successfully navigating major financial crises. With a robust track record and oversight from top financial authorities, it demonstrates safety in its operations.

Forex is considered a challenging yet alluring field, often likened to a gold mine. Engaging in Forex requires careful selection of a reputable Forex broker. Apart from AxiTrader, there are several other reliable Forex brokers such as HXFX, XM, Nord Fx, etc. You can entrust your assets to these trading platforms.