AxiTrader UK is a trading name of AxiCorp Limited which is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 509746.
AxiTrader UK offers over 140 instruments for online trading including distributed into currency pairs, commodities, indices and cryptocurrencies (Bitcoin). The company claims it maintains tight spreads due to the establishment of an extensive network of prime brokers, global banks and financial institutions.
There are two types of accounts that differ in the spreads and commissions offered. The Standard account provides an average spread for the EUR/USD pair of 1.2 pips without any commission. The spreads for the major currency pairs in the PRO account are near zero at the expense of the USD7 fee for the traded lot. There is no minimum deposit amount and you can start with as much money as you like.
Despite the FCA regulation, the company claims it can provide up to 400:1 leverage for standard trading accounts, depending on the client region.
Customers can trade through the world’s most popular online trading platform – MetaTrader 4 (MT4). It is simple for beginners and has the complete functions for professionals. The terminal is available for both Mac and PC, as well as а mobile version for iOS and Android devices. The MT4 plugin Myfxbook lets the clients automatically follow the performance of top traders and copies their deals. In addition, the ‘PsyQuation’ platform is also available as a plugin for MT4. This is another option for copying profitable investor deals. Developers describe it as an AI-driven analytics platform that allows traders to discover trading strategies that work and copy them using its unique ranking system.
Customers can feed their accounts through bank transfers, credit/debit cards, Sofort, GiroPay, iDeal, Neteller, and Skrill.
Let us look at the legal section of the website. The Risk Disclosure document shows that if you are classified as a retail investor, your account will be covered by the Negative Balance Protection. This means that you cannot lose more than you have deposited with AxiTrader. The Product Disclosure Statement document reveals that the company is a market maker and not a broker. In this way, it acts as a principal, not as an agent, in respect of all client transactions. It is also mentioned that stop loss orders are not guaranteed; the execution of such orders will depend on market volatility and liquidity and the execution price may be different from the stop loss order price. All other types of orders are also subject to slippage.
Overall, AxiTrader UK is a strictly regulated company that offers competitive terms and does not require a minimum deposit to open an account. If you do not mind that it is a market maker, then you have all the things you need to start trading AxiTrader UK.