Aximtrade: An Exclusive Review of New Australian Broker 

When choosing a broker to trade, you have to consider a variety of critical factors, such as regulatory compliance, the diversity of trading instruments, and platform technology. These elements collectively contribute to the trading experience, impacting not only the potential profitability but also the level of risk and security of your investments.

This forex trading broker review aims to provide an in-depth analysis of Aximtrade, covering key aspects to help you make an informed decision. 

Aximtrade: Overview 

Established: 2020
Headquarters: Melbourne, Australia
Trading Platforms: MetaTrader 4
Mobile Trading: Yes
Minimum Deposit: 1$
Account Types: Standard Account, Cent Account, ENC Account, Infinite Account, Pro Account

Aximtrade broker, launched in 2020 and headquartered in Melbourne, Australia, has made its mark in the forex trading sector. This broker facilitates access to a variety of financial markets, including forex, metals, cryptocurrencies, indices, and stocks, primarily through the MetaTrader 4 platform. This platform is well-regarded for its functionality and serves as the cornerstone of Aximtrade’s trading infrastructure.

One of Aximtrade’s strategies to broaden its market appeal is by setting the minimum deposit at a notably low $1, aiming to attract a wide range of traders, from beginners to those with more experience seeking to test new strategies with minimal financial commitment. The broker offers several account types, including Standard, Cent, ECN, Infinite, and Pro accounts, each tailored to different trading preferences and experience levels.

Regulation and Registration

Aximtrade operates across various jurisdictions under multiple entities, each regulated by respective authorities to ensure compliance and security for its traders. AximTrade Pty Limited, based in Melbourne, Australia, is regulated by the Australian Securities and Investments Commission (ASIC) with AFSL no. 001294600, ensuring adherence to stringent financial standards. In the Caribbean, AximTrade LLC is registered in Saint Vincent and the Grenadines, with oversight by the Financial Services Authority, offering additional international reach. 

Additionally, Huntington Services Limited in New Zealand operates under the jurisdiction of the Financial Service Providers (FSP), further expanding Aximtrade’s regulated footprint. Despite these regulatory assurances, Aximtrade broker issues a risk warning about the high level of risk associated with forex and CFD trading, advising clients to understand leveraged products before investing fully. The firm also specifies regions where its services are not available, including but not limited to Australia, Canada, and the United States, highlighting its compliance with international financial regulations and restrictions.

Account Types of Aximtrade

STANDARD ACCOUNT

• Minimum Deposit: $1
• Spread: 1 pip
• Commission: No
• Maximum Leverage: Up to 1:3000
• Instruments: Forex pairs, metals and energy, indices, crypto, stocks and commodities

CENT ACCOUNT

• Minimum Deposit: $1
• Spread: 1 pip
• Commission: No
• Maximum Leverage: Up to 1:2000
• Instruments:  Forex pairs, metals and energy, indices, crypto, stocks and commodities

ECN ACCOUNT

• Minimum Deposit: $50
• Spread: 0.0 pip
• Commission: $3
• Maximum Leverage: Up to 1:1000
• Instruments: Forex pairs, metals and energy, indices, crypto, stocks and commodities

INFINITE ACCOUNT

• Minimum Deposit: $1
• Spread: 3 pips
• Commission: No
• Maximum Leverage: Unlimited
• Instruments: Forex pairs, metals and energy, indices, crypto, stocks and commodities

PRO ACCOUNT

• Minimum Deposit: $300
• Spread: 5 pips
• Commission: Forex $2.5, metal $3.5, crypto $3.5, indices $2.5, energies $2.5
• Maximum Leverage: Up to 1:1000
• Instruments: Forex pairs, metals and energy, indices, crypto, stocks and commodities

Deposit and Withdrawal

Aximtrade broker offers a variety of deposit and withdrawal methods for its clients. The minimum deposit amount for a Standard account is 5 USD for electronic funding, including direct bank transfer, while the minimum amount for other accounts is not explicitly stated in the provided search results. There are no deposit fees, but some withdrawal methods may have a commission, such as Perfect Money, which has a 5 USD commission. 

Withdrawal requests are processed within 24 working hours, and all client withdrawal requests shall be processed in the currency in which the deposit was originally made. AximTrade offers more than two dozen ways to deposit and withdraw funds, including several e-wallets, cryptocurrency wallets, and bank wire. Clients can choose the most convenient method for them, and the duration of the process may vary depending on the chosen channel.

Products in Aximtrade

Aximtrade broker offers a diverse range of trading products, catering to the varied interests and investment strategies of traders worldwide:

• Forex
• Metals
• Crypto
• Indices
• Stocks

Trading Platform of Aximtrade

Aximtrade broker only offers one trading platform:

• MetaTrader 4 (MT4)

Fees of Aximtrade

Spreads start at 1 pip for Cent and Standard accounts, and at 0.0 pips for ECN accounts, with an additional commission of $3 per round turn for ECN accounts. There are no commission fees for Cent and Standard accounts. AximTrade has a minimum deposit requirement of $1 for Cent and Standard accounts and $50 for ECN accounts.  

The broker also offers high leverage, with up to 1:1000 for ECN accounts, and up to 1:3000 for Cent and Standard accounts. Additional trading fees, such as swap fees, are charged, but AximTrade does not charge inactivity fees or account maintenance fees. AximTrade also offers a swap-free account for selected regions, which does not incur daily crediting or withdrawal of funds related to swap operations

Aximtrade Promotions

• AximTrade Offers a Lifetime Bonus of up to USD 1,500: The campaign from AximTrade, starting from March 6, 2023, offers a deposit bonus ranging from 15% to 30% based on multiple deposit operations, with a maximum credit amount of $1,500. It is available for verified accounts and is applicable to multiple regions, including Thailand, Vietnam, and MENA. 

Note that followers cannot use the bonus for copy trading. For more details, please visit the AximTrade promotions.

Customer Support

• Email: [email protected]
• Live Chat: 24/5 GMT

Pros & Cons

Pros Explained

• The broker offers competitive spreads, which means that the difference between the buy and sell price of an asset is relatively small. This can lead to lower transaction costs and potentially higher profits for traders.
• The broker provides high leverage, which means that traders can control larger positions with a smaller initial deposit. However, it’s essential to note that high leverage also increases the risk of losses. Traders should use leverage responsibly and be aware of the potential risks.
• The broker supports a wide range of payment solutions, making it easier for traders to deposit and withdraw funds. This flexibility can be beneficial for traders who prefer specific payment methods or those who live in countries with limited banking options.
• The broker provides negative balance protection, which means that traders cannot lose more money than they have deposited. This feature can help to minimize the risk of significant losses and protect traders from unexpected market movements.

Cons Explained

• AximTrade does not accept clients from several countries, including Australia, Canada, Ethiopia, Gibraltar, Israel, New Zealand, North Korea, the Philippines, Poland, Singapore, the United Kingdom, and the United States of America. This restriction can be a disadvantage for traders residing in these regions who are interested in using AximTrade’s services.
• The broker charges high commissions in some payment systems, such as Skrill and Neteller, which apply a 4% commission for withdrawing money. This can be a disadvantage for traders who prefer to use these payment methods, as the high commissions may impact the overall cost of transactions and fund withdrawals.
• AximTrade’s customer support is accessible exclusively through email and live chat from Monday to Friday, based on GMT hours. Notably, they do not offer phone support, which might be a limitation for those preferring direct verbal communication for assistance with their trading accounts.

Is AximTrade Worth Considering?

Considering Aximtrade involves weighing its pros and cons. The broker offers competitive spreads and high leverage, attracting risk-tolerant traders with potential cost savings and significant market exposure on lower initial deposits. Its diverse payment options and negative balance protection enhance user convenience and financial safety. However, geographic restrictions and high withdrawal fees for some payment methods may deter international traders and those needing specific financial services. Moreover, the absence of phone support limits immediate assistance options.

Whether AximTrade is suitable depends on individual trading needs and preferences. For traders outside restricted countries comfortable with leveraged trading risks and available support channels, AximTrade provides compelling features. However, those affected by restrictions or concerned about fees may need to consider these factors against the benefits.

FAQs

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