Is AxiTrader a Trustworthy Broker or Is It a Scam?

While the whole world is closed for quarantine, many people finally decide to go for trading. Everything starts with choosing a broker. However, how are you supposed to know that your choice is not a scam? Find out about that in our AxiTrader review!

What Does AxiTrader Offer?

AxiTrader is a broker with many years of experience. Of course, everyone would expect a large number of assets, instruments, and high-quality service. What’s the catch? AxiTrader meets all expectations!

What to Trade?

AxiTrader has a huge variety of products to offer. These include all the popular options: crypto, Forex, CFDs, commodities, oil, metals, and others. You can find detailed information on this page.

The founders of the company are traders themselves. Therefore, they know which options people prefer, and which are the most profitable. Only people like they can successfully manage brokerage services that let traders earn for a living.

Low Spreads and Commissions

It’s a surprise that the spreads and commissions are quite low here. For instance, the spreads can start with either 1.0 or 0.0 pips and the commissions can be either $0 or 7 AUD per each trade. The first option is for Standard accounts, and the second one is for Pro accounts. This is literally the only difference between them.

AxiTrader Account Types

As we have already mentioned, Standard and Pro accounts are very much alike. They have differences only in their spreads and commissions, and that is it.

However, there is also a demo account that can be created here. Such accounts provide $50 000 on your virtual wallet and give you a free 30-day test period to see how trading works. The market here is not simulated, it is a reflection of the live market.

So, the three AxiTrader account types are:

  • Standard
  • Pro
  • Demo

We recommend trying the free test period first to see whether you like it or not. 

AxiTrader Trading Platforms

There is not a big difference from other brokers when it comes to the trading platforms AxiTrader uses. These are the classic and most trusted options:

  • MT4 Web
  • MT4 Desktop, Mobile

It is possible to use the mobile version of the MT4 software to trade from your smartphone. This is a good choice for users who prefer traveling or trade only part-time.

In addition, AxiTrader grants free access to all clients to these services:

  • AxiOne
  • PsyQuotation

This software is used to make trading much easier for everyone – gain access to all possible liquidities in one place, view fresh AI analytics with signals and tips, and more!

Educational Materials

One of the sections that attracts many beginners is the education section on AxiTrader’s website. There are many tutorials, videos, tips, eBooks, and guides for using various trading tools. Moreover, the section also contains analytical data and insights. These might be quite useful if you have no idea what you should trade now.

All the materials above are available for free. However, AxiTrader also has an online trading academy. Access to it is given only when a certain amount of money is invested.

So, if you decide to make an investment, keep these amounts in mind. Why not get a free course in addition to your earnings?

AxiTrader Minimum Deposit

It is a surprise for many traders, but AxiTrader has no minimum deposit. That’s right, nobody forces you to invest a specific sum. It could even be $1. 

However, the broker recommends investing at least $200. Otherwise, you won’t rip the benefits of your investment so quickly. Even the smallest profits might consume plenty of time.

AxiTrader Withdrawal Methods

AxiTrader has many payment methods that let traders from all around the world make profits online. You can find out more about it on the broker’s official page. Depending on the methods you choose, a withdrawal usually takes up to 3 business days.

AxiTrader Deposit Methods

AxiTrader has also got many deposit methods. For instance, it is possible to use a credit or debit card and e-wallets. The information is available on the same page that we have mentioned above.

Is AxiTrader Regulated?

Having a regulation is what shows the trustworthiness of a broker. AxiTrader does have a regulation. In fact, there are several of them. These are:

  1. FCA
  2. ASIC
  3. DFSA
  4. FMA

Do not get surprised by the big difference. AxiTrader is a global company which works in Canada, Australia, New Zealand, Russia, and many other countries. Therefore, the broker is obliged to follow the rules wherever it works.

What Do People Think of AxiTrader?

There are many trading forums and rating websites that are valuable sources of customer reviews. One of these is Trustpilot. We often check the information about new brokers here and sometimes add reviews of our own. This helps many people to avoid scams and find legit brokers.

As we can see, 80% of all available reviews (and these are 158 reviews) are “Excellent”. Only 4% of the reviews give the broker a negative mark. We have looked further into the matter and noticed that in nearly all negative comments, the company tried to contact the users and help them solve their issue. However, many traders used this as a chance to get a bonus or compensation for a non-existing issue. This conclusion can be made by reading both the trader’s and the company’s comments.

Conclusion

AxiTrader is an experienced broker with many prospects. It is one of the oldest services available. The company has more than 10 years of experience and does everything possible to satisfy its clients.

According to several regulatory authorities, AxiTrader is a legit broker. Here, people can invest their money without being afraid of stumbling over a fraud. A huge number of assets guarantees that traders of all kinds will find what they prefer working with most. 

If you are a beginner, try reading some articles and watching several videos in the educational section. The broker provides free materials, which are really useful even to skilled traders.

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