AxiTrader Reviews: Is This A Worthy Investment For Millennials?

Home Investing AxiTrader Reviews: Is This A Worthy Investment For Millennials?

Is AxiTrader a good Forex Broker? Learn about if you should use AxiTrader to trade Forex and if it's legit or just a scam.

Millennials are said to invest in businesses that they believe have a social impact. These people aged between 23-37, use their hearts as a guide in choosing the companies they invest in.

It’s crucial for Millenials to look into the background of businesses and how they work. For them, it’s essential that they make money and contribute to the betterment of the world at the same time. Would AxiTrader be a sound investment for millennials?

Here are the facts about AxiTrader.

AxiTrader Background

AxiTrader is a Forex broker owned and operated by seasoned Forex traders who recognize the sharp requirements of investors and traders in the foreign exchange markets. The company has spread its businesses in the UK and Australia where in the UK it’s regulated by the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) in Australia.

AxiTrader is under AxiCorp Financial Pty Ltd founded in Sydney, Australia in 2001. Over the years, the broker company developed into one of the biggest companies in its location. Not only did the company perform well in Australia as its dominance has also spread to other financial markets in the world. In 2007, AxiTrader was brought in primarily as a Forex trading platform and had since led the Australian retail foreign exchange market.

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The company is considered to belong to Australia’s top Forex brokers and even extended its expertise to other locations. Among its goals is to move towards the retail trading market in Europe using its branch in the UK as its highlight. AxiTrader’s strategic locations in Asia-Pacific and Europe enable it to take advantage of their proven track record and present stiff competition against other brokers.

Trading Options

AxiTrader provides simplicity to their clients by allowing them to select one account from two choices. The first account type is called the MT4 Standard Account – a market maker account. Its primary role is to match orders internally. The second type is the MT4 Pro Account – an ECN account. Both accounts have almost the same trading conditions except in their spreads, associated trading conditions and cost of trading.

The two types of accounts also provide access to 80+ financial assets ranging from CFDs, precious metals and foreign exchange.

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  • Standard Account. The primary role of this account is to match orders internally. This account’s spread starts from 1 pip on the main currency pairs. On the other hand, the maximum leverage is set at 1:400.
  • Pro Account. This account focuses on connecting traders to global liquidity providers. The Pro Account comes with lower spreads starting from 0 pips. However, each trade will gain a $7 commission for every round turn. Its leverage is also pegged at 1:400 with the minimum lot size set at 0.01.

Possibly the most thrilling aspect of a forex account under Axitrade is their minimum deposit for which a trader can open either type of account for a starting capital of as low as $1.

This is AxiTrader’s edge in an extremely cutthroat retail trading market. The broker also permits different payment methods for withdrawing or sending funds including online payment options, wire transfers, and card payments. Although there’s no minimum trading limit imposed for traders, AxiTrader recommends a deposit of at least $200.

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Platform Choice

The MT4 is AxiTrader’s only trading platform since it’s highly prevalent among traders. However, mobile trading is also possible with their iOS and Android apps, which are downloadable from web stores. Traders should feel at ease with the AxiTrader MT4 platform.

Regulatory Agreement

AxiTrader complies with the auditing standards stipulated by the supervisory board including capital requirement rules and making sure that the client funds are safe by depositing them into separate accounts. The regulatory boards FCC and ASIC also oblige AxiTrade to focus on giving their customers a superb environment without falling into the temptation of profits. Traders feel more secure doing business for AxiTrader primarily because of its compliance with the regulatory boards’ requirements. AxiTrader also entertains feedback and complaints within 24 hours via their customer service.

Minor Setbacks

Traders don’t receive a bonus on their AxiTrader deposits. Also, clients are not given loyalty programs or other benefits when opening an account, which is among its drawbacks. They also offer a demo account available for only 30 days, which prevents clients from experiencing their services for an extended period. The account spreads are observed to increase significantly without notice. Foreign exchange trading indeed comes with the spreads varying, AxiTrader accounts experience irregular spreads.

All in all, AxiTrader is a foreign exchange broker founded and managed by highly qualified traders. This broker is also governed by the rigid rules of reliable regulatory boards, which makes trading a secure investment for clients. Despite its many advantages among its competitors, it also comes with a few setbacks. To know more about AxiTrader, read the full review here.

For the millennial looking into the foreign exchange investment scheme, AxiTrader presents a reliable and viable investment. Its operations are straightforward and its platform highly accessible, making forex investing a breeze. Its conformity to regulatory standards is also vital towards making this investment ideal for millennials. If you’re risk-averse you can learn how to make money online without investment.

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About the author

Brian Meiggs
Brian Meiggs
Brian Meiggs is a personal finance expert, and the founder of My Millennial Guide, a personal finance site helping you put more money in your pocket. He helps millennials follow the smart money in order to increase their earning potential and start building wealth for the the future. He regularly writes about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. He has been quoted as a top personal finance blogger in major publications including Yahoo! Finance, NASDAQ, Discover, MSN Money and more.

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Bottom Line:

For the millennial looking into the foreign exchange investment scheme, AxiTrader presents a reliable and viable investment. Its operations are straightforward and its platform highly accessible, making forex investing a breeze. Its conformity to regulatory standards is also vital towards making this investment ideal for millennials.

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