AxiTrader Review: this is the name of a Forex broker that is located in Sydney, Australia. Is axitrader.com a scam Forex broker or legit?
It was established in 2007 and is licensed in not just Australia but in the UK under the FCA. Other authorities that this broker falls under includes the FMA and DFSA. We found that the parent company, AxiCorp, also owns CMGAU.com. It is part of the AxiTrader Limited.
The brokerage offers a free demo account to test their claims. Although it operates from the offshore location of St. Vincent and the Grenadines, its parent company is legitimate. Profits are promised with such advantages attached to the broker as: wide range of currency pairs, commodities & indices trading, standard or pro accounts, margins and leverage.
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
Benefits of trading with this broker are summarized on the page as follows:
Trust and Security
AxiTrader Trading Platform
It is mentioned that AxiTrader trading software is operated on a MetaTrader 4 platform available to all their clients.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are: 85+ Forex currencies, 5+ cryptocurrencies and CFDs on 15+ commodities. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
Maximum leverages can reach up to 1:500 and while this is generous, it can pose danger as well. High leverages can lead to huge loss of funds as well. Spreads are averaged at 1.0 pips. Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on AxiTrader
The means of making payments and withdrawals with this broker are: MasterCard, Visa, Bank Wire Transfer, Skrill, Neteller, UnionPay, Ngan Luong, Payment Asia, Poli, JCB, Maestro, BPAY, and GlobalCollect. Although not all are allowed for withdrawal but it is still an impressive list.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Minimum deposit required is placed at $1 which is affordable as compared to the obtainable average of $100 – $250 among brokers. We could not find anything on withdrawal fees and charges.
Trading bonuses are not offered to clients and we have found that this is a method used by scammers to impose restrictions on clients’ accounts. So it is encouraging to find it absent.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
Is AxiTrader Licensed?
Yes. AxiTrader is a duly licensed broker operating under a legitimate company. It is licensed by 4 commissions and authorities, namely: ASIC, FMA, DFSA, and FCA. This means that should the broker fail to keep to promises found on their page, they can be legally prosecuted and held accountable.
However, when we checked FPA, most of the recent reviews on this broker has been negative. But what is interesting is that like all legit brokers, a representative is always on hand to try and sort issues out with the aggrieved clients and we will like to see the results of these consultations.
To reach the customer care agent of the brokerage, clients can email them at: email@example.com or call: +61996558830
As we have found that AxiTrader is a duly licensed broker, we have some confidence in them. We would also look forward to them sorting out issues with the clients giving negative reviews. Most of what we found about the firm is encouraging.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website