Axitrader Review

Axitrader Review

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AxiTrader, an Australian ECN broker, prides it-self on being a leading Australian brokerage firm that offers a wide range of options for all kinds of investors. We’ve completed a thorough AxiTrader review and will provide both the good news and the bad. On the plus side, the minimum amount for opening an account in AxiTrader is $200, which is not as high as the minimum deposit of other ECN brokers, and is a reasonable amount for first time investors.

The company also offers the MT4 trading platform, which is always pleasant to work with. With AxiTrader one can place trades in any amount between $1,000 and $100,000,000. The site is available and active for 24 hours, full discloser of the prices on the market. The standard leverage available with AxiTrader is 200 to 1, and in specific cases the company will approve 400 to 1. The spreads go from 1 pip on major currencies, however the site does not specify its full list of spreads in an obvious way. We were happy to see that AxiTrader is regulated by ASIC, and holds an Australian Financial Services license.

On the downside, during our AxiTrader review we  were disappointed to see that the service is available in limited languages only and that the company’s live chat is open only for registered members (you need to add your account number to chat), although you can request a call back even if you’re not a registered member. All in all we didn’t find the site very user-friendly. Some of the basic information was not easily accessible and even though the site is well-built, we found it to be rather frenetic rather than pleasant. Though AxiTrader was not the worse brokerage we’ve encountered, one of our top-rated ECN brokers may be a better choice.