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AxiTrader FAQ

FAQ – Frequently Asked Questions

 

About AxiTrader

  • How are my funds held on deposit? Are they safe?
    All monies received from clients are banked and held in segregated trust accounts and dealt with in accordance with the Australian Client Money Rules under the Corporations Act.
  • Is your company Australian owned?
    AxiTrader is the trading name of AxiCorp Financial Services Pty Ltd ACN 127 606 348 AFSL 318232. It is a majority Australian owned entity.
  • Do you accept US Residents as clients?
    AxiTrader will accept accounts from residents of most jurisdictions. However, we are not permitted to accept accounts from residents of U.S.A and other countries listed here.

  • Do you have 24 hour support?
    Yes, AxiTrader runs a 24 hour customer service and trading desk 5 days a week starting from 7.00am AEST (00.00 server time) Monday morning and ending at 07.00am AEST on Saturday morning .
    Call our toll free number Aus. 1300 888 906 to get access. For international calls, please phone +612 9965 5830. Alternatively, you can use our live chat facility which is also available 24 hours a day during this period.
  • How many currency pairs does AxiTrader offer?
    You can view the complete list of currency pairs that you can trade with AxiTrader here
  • What time does AxiTrader open on Monday mornings?
    AxiTrader’s FX pricing currently opens at 7am Monday morning AEST and remains open until 7am Saturday morning (00:00 – 24:00 server time). This will change as daylight savings changes in Australia and the US, notice of the change is given to all AxiTrader clients one week before the open time changes.As a guide, our MT4 market open coincides with 5pm on Sunday in New York.
  • Where do your FX prices come from?
    AxiTrader uses 14 different Tier 1 banks for its liquidity and pricing, we take the best bid/ask prices across these banks and offer them to our clients through the award winning Metatrader 4 software.
  • Is AxiTrader Regulated?
    AxiCorp is authorised and regulated by ASIC and FCA, and holds an Australian Financial Services License #318232 and Financial Conduct Authority FRN #509746.

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  • How do I withdraw funds?
  • How do I deposit funds?
    AxiTrader offers several different funding options including Moneybookers/Skrill, Neteller, Wire Transfer, Credit Card, and BPAY. We also allow broker-to-broker transfers from selected companies. Refer to our Account Funding page for more details.
  • What time do your charts reflect, why?
    The time setting that appears on AxiTrader’s Metatrader 4 is currently GMT+3, which is also known as ‘New York Close’. This means trading begins at 00:00 server time (currently 7am AEDT), with the daily rollover occurring at the same time each day. This time cannot be changed on the platform. This is to avoid what is known as a ‘weekend candle’ which would appear on a Sunday on a daily chart with GMT based platforms.
  • What time is live chat available?
    AxiTrader provides live chat support 24 hours a day during office hours starting from 7am AEST Monday morning
  • How long does the demo platform last for?
    AxiTrader’s MT4 Practice (Demo) Accounts last for a standard 30 days. If you’d like to set it to not expire, you’ll need to open a live account and contact your account manager who can set it for you.
  • What is the minimum deal size?
    AxiTrader allows trading of micro lots (0.01 volume and 1,000 base currency) on the standard accounts for all 55 FX pairs, as well as gold, silver and WTI. We allow a minimum trade size of one mini lots (0.1 volume and 10,000 base currency) on our Pro accounts for all 55 FX pairs, as well as gold, silver and WTI.
  • Does AxiTrader have any trade restrictions?
    AxiTrader allows all trading, including EAs, scalping and hedging.
  • What currencies are available to deposit with?
    Most major currencies including: AUD, USD, GBP, CAD, SGD, CHF, HKD, JPY, EUR, NZD, IDR, TWD.
  • What is the minimum I can deposit?
    AxiTrader allows $200 as a minimum deposit on our standard accounts and $1000 as a minimum on our pro accounts.
  • What is the maximum leverage you offer?
    The maximum leverage for an MT4 trading account with AxiTrader is 400:1 (on special request). The standard leverage is 100:1 and is on Forex only.
  • Who owns AxiTrader?
    AxiTrader is the trading name of AxiCorp Financial Services Pty Ltd ACN 127 606 348 AFSL 318232. It is a majority Australian owned entity.

AxiTrader Trading Accounts

  • Can I have a demo account and live account with AxiTrader?
    AxiTrader’s MT4 allows you to have as many live accounts and demo accounts as you wish. However, we recommend only having one instance of MT4 on the one computer. Our demo accounts last 30 days from registration. If you have a live account and would like a non-expiring demo account you can email our customer service department [email protected].
  • Do you pay interest on funds?
    AxiTrader pays interest on your un-margined funds, which is the RBA cash rate -2%. Note: AxiTrader only pays interest on qualifying AUD funds.
    *Qualified accounts are AUD trading accounts with minimum equity free margin of AUD$10,000.
  • Do you have trading platforms for mobile phones?
    Yes, we have platforms for iPhone, Android, and iPad. All these platforms are provided free with your MT4 account – Just search ‘Metatrader’ in the Apple app store, or Google Play. For quick reference here are the direct links:
    Android: https://play.google.com/store/apps/details?id=net.metaquotes.metatrader4
    Apple: http://itunes.apple.com/en/app/metatrader-4/id496212596?mt=8
  • What is the maximum leverage you offer?
    The maximum leverage for an MT4 trading account with AxiTrader is 400:1 (on special request) and will only have an effect on the FX Pairs. The standard account leverage is 100:1. Please use the client request panel to request a leverage change.
  • What’s your minimum deposit for a trading account?
    AxiTrader allows $200 as a minimum deposit for Standard account and $1000 for Pro accounts.
  • Can I have my account balance in a different currency?
    Yes AxiTrader supports the following currencies for MT4 Accounts: USD, EUR, GBP, SGD, NZD, HKD, CHF, and JPY.
  • Can I trade with Expert Advisors (EA’s)?
    Yes, AxiTrader allows all Expert advisers, including scalping EA’s.
  • Can I have multiple logins on the same account at the same time?
    You can be logged into the same live account as many times as you prefer. You can also create a ‘read-only’/investor password that is suitable if you don’t want the account to be traded on.
  • What is the difference between ‘Standard’ account and ‘Pro’ account?
    To find out which account is right for you, please visit the Open Account Page.
  • What ID Documents do I have to provide for opening up an account?
    For Australian clients, AxiTrader uses automatic ID verification which if successful you will not need to provide further identification. For international clients, you will simply need 1 Government Issue ID (passport, drivers licence or National ID) and 1 proof of address (bank statement, utility bill or government notice). Generally, these documents do not need to be certified.
  • I received triple the amount of interest I normally would receive/pay on Thursday morning AEST
    For positions that are open on Wednesday and held overnight, the amount added or subtracted to an account as a result of rolling over a position (swap) is three times the usual amount. Charging ‘triple swap’ for Wednesday roll-over accounts for the settlement of trades through the weekend, as swap rates are not charged during this period due to the market being closed.
  • How can I withdraw funds from my AxiTrader account? Can I withdraw to any account?
    To withdraw funds from your nominated account you’ll need to provide your MT4 Login and password and submit a withdrawal request on our Account Withdrawals page.
    Alternatively, you can contact your account manager or email: [email protected]
    Funds can only be sent back to an account in the same name as the trading account, for instance if you have a company account you can’t withdraw funds to an account in the name of an individual.
  • How can I deposit funds to my account?
    AxiTrader offers several different funding options and most options are available in all major currencies. There are options of Local Bank Transfer, Credit Card, BPAY (AUD only), MoneyBookers™ (USD, EUR and GBP only) and also broker to broker transfers from selected companies.See our MetaTrader Account Funding page for more information
  • How long does it take to receive funds to my AxiTrader account?
    If you have funded via bank transfer, funds will need to clear before they appear in your trading account, this can take 1-3 working days, depending on your location.
    If you have funded via credit card funds will be available in your account within 10 minutes of completing the transaction.
  • How long does it take for a withdrawal to be completed?
    During normal AxiTrader operating hours of Monday to Friday (8:30am – 6pm AEST) Withdrawal requests will be processed within 24 hours of being received as long as no additional information is required. Depending on your location, the funds may take 1-3 business days to reach your account.
  • How long does it take to open a live account?
    The online application will take approximately 5-10 minutes to complete. If all required documents are submitted (Copy of Photo ID, Proof of address etc.), the account can be set up within 24 hours (during normal operating hours).
  • Does it cost to open an account at AxiTrader?
    AxiTrader has no account opening or monthly fees.
  • Can I open an account if I am not from Australia?
    You can open an account from any country that is not on our sanctioned countries listed here.
  • How do I change the password?
    You can change your AxiTrader MT4 password when you login to MT4 by selecting the top menu option of ‘Tools’, then ‘Options’ and on the ‘server’ tab clicking on ‘change password’.
  • What does the error message ‘Max Logins Exceeded’ mean when trying to login to the account funding/withdrawal page on the website?
    If your account becomes blocked from excessive failed login attempts you will not be able to access your account until 08.00 AEST the next morning (00.00 on our trading platform). You will need to wait until then before you are able to login again.
    If there is anything that requires immediate assistance or funding you can contact our Customer Service department 24/5 for assistance via our Contact Us page.
  • What are the fees to deposit and withdraw from my AxiTrader account?
    There is a 0.9% fee for Australian client’s credit card deposit for any currency.
    For international clients, there is a 3.2% fee for credit card deposits for any currency and a 2.89% for MoneyBookers deposits.
    For withdrawal there are no fees for withdrawals to an Australian bank account.
    If you are withdrawing to an account outside Australia, there will be a $15-$25 withdrawal fee, depending on your account currency.
  • Can I fund in a different currency other than AUD to my AxiTrader account?
    You can fund your AxiTrader account in any major currency. If using your own bank to convert funds, you may be subject to a very high conversion rate + fees. An alternative to this is depositing into the AxiTrader bank account of your local currency and allowing AxiTrader to convert the funds for you at a more favorable rate.Details on AxiTrader’s funding options can be found on our Account Funding page.
  • How do I close my AxiTrader account?
    Make sure all the trades in your MT4 account are closed and simply email or call our Customer Service team and they will process your account closure request.
  • How can I change my account details?
  • How often do I receive an account statement?
    You will receive a daily confirmation of your trades on any day there is trading activity. You will also receive a monthly statement on the first day of the new month.
  • I’ve forgotten my password. What should I do?
    If you have forgotten your MT4 password, you can reset it here.
  • Why have I not received any daily statements?
    You will only receive a daily trading statement if there was a trade placed/active on the previous day. Please ensure that AxiTrader is added to your Safe Senders list for email services like Gmail and Hotmail.

MetaTrader MT4 Platform

FX Trading

  • What is the swap that I have to pay if I hold a position overnight?
    Swap is the exchange “interest” or “premium” you are charged or earn on a daily basis for any trades carried (rollover) from day to day. It is based on the yield exchange rates between the base currencies (first listed) of the currency pair and the terms currency (second listed) of the currency pair. For example, if you were buying the AUD and selling the USD, there is a large gap between the interest rates of the US and Australia, therefore you will receive a positive swap overnight. If you were selling the AUDUSD or going ‘short’, you would pay a swap charge. The rollover is done each morning at 00:00 Server time.
  • How do I find out the swap rate?
    Swap rates can be found from the trading platform. To see the swap charges for a currency position, right click on a pair in the ‘market watch’ panel of MT4. After this, Select symbols; choose the symbol you wish to view then select properties. This will bring up all the features of the currency pair including the relevant swap rates. If you need further assistance with locating swap rates on the platform, please do not hesitate to contact us.
  • What are AxiTrader’s commissions/fees?
    With a ‘Standard’ account, AxiTrader does not charge commissions or fees for products as you will pay a small spread (the difference between the bid and ask) which is included before you enter a position. On the ‘Pro’ account, it is our raw feed plus commission and the costs are $3.50 per lot traded ($7 round trip) USD equivalent in your funding currency, rounded to the nearest 50c.
  • Can I trade micro lots and mini lots with AxiTrader?
    AxiTrader’s standard account has micro, mini and standard size contracts which can be traded all with the same ultra-low spreads. The sizes you can trade start at 0.01 (0.01 units/pip or .10c), and go up to a maximum of 100 lots (1000 units/pip). When placing your order, you simply choose what size suits your trading.
    The minimum lot size on AxiTrader’s Pro account is 0.1 (1 unit/pip or $1/pip i.e. a mini contract) with a maximum of 100 lots (1000 units /pip).
  • How far away can I put my stop loss and take profit on orders?
    AxiTrader’s US05 MT4 server has a minimum stop-loss and take-profit distance of 2 pips which is stated as ‘20’ pips on the platform as we use 5 decimal pricing, except for Japanese Yen which is priced to 3 decimal places. On our PRO US (US02) server, there is no distance required to set stop-loss and take-profit.
  • Why can’t I put my take profit and stop-losses on the one order ticket?
    AxiTrader uses Metatrader’s ‘market execution’ for our Straight-Through-Processing (STP) on FX products. This means the order will go through to the market and any stops and targets will be held by the broker through the MT4 platform.
  • What is your average spread on major FX pairs?
    Our average spread on FX majors is 1.3 pips on standard accounts and 0.3 pips on PRO. You can view our spreads for both Standard and PRO accounts on our Spreads, Rates and Rollovers page
  • What is a spread?
    The Spread is the difference between the BID and the ASK price in the market quotes.
    The ASK price is applicable to a BUY order and the BID price is applicable to a SELL order.
  • What are the different pending order types?
    Buy Stop – Above Market Price I.e. You set the stop above the market so when the market hits the point you buy the shares/currency in an attempt to catch a bullish trend
    Sell Stop – Below Market Price I.e. You set the stop below the market so when the market hits the price, you short the market in an attempt to catch a bearish trend.
    Sell Limit – Above Market Price I.e. You set the price above the market price as you believe that when the price hits this mark it will go in a bearish trend.
    Buy Limit – Below Market Price I.e. You set the price below the market as you believe when the market hits this price, it will go into a bullish trend.

Metal/Oil/CFD Trading

  • What are the margins and tick values on the Indices?
    The standard margin on all of AxiTrader MT4 products is 1%. For indices, it is 1% of the value of the relevant index. For example if the Australian SPI200 was trading at 4000, for every $1 contract that you enter (1.0 in volume) the margin requirement would be AUD$40. You can multiply this to work out larger sized contracts. The tick values for 1 standard CFD contract is as follows: if a SPI200 position is entered at 4000, and it moves from 4000 to 4001, you will have a profit of AUD$1. For further Information on tick values you can consult our Product Schedule.
  • What time does gold open on MT4?
    Monday 01:00 Server Time
  • How much is gold to trade?
    100 ounces = 1.0 Standard Lot ($10 USD for each Pip Movement)
    10 ounces = .1 Mini Lot ($1 USD for each Pip Movement)
    1 ounce = .01 Micro Lot ($0.10 USD for each Pip Movement)
    Gold is traded against the USD so is equivalent to FX. (Swap is daily)
  • How much is Silver to trade?
    5000 ounces = 1.0 Standard Lot ($25 USD for each price tick)
    500ounces = 0.1 Mini Lot ($2.50 USD for each price tick)
    50 ounces = .01 Micro Lot (25c USD for each price tick)
    Silver is traded against the USD so is equivalent to FX. (Swap is daily)
  • What is a ‘rollover’? When does it happen?
    Information on rollovers can be found at these links:
    Oil Rollovers
    Index Futures Rollovers

Myfxbook Subscriber FAQ

  • How do I set up a MyFXbook AutoTrade account?
    To set up your AutoTrade account you need to establish an account with AxiTrader. Once your account is set up and funded with at least $1000 USD you will need to connect your account with AutoTrade by following this link: http://www.myfxbook.com/autotrade/open-live-account/axitrader. You will need both your master and investor password handy (they can be found in your “live account is ready” email from AxiTrader). Once you have established your AxiTrader account you can link your account to Myfxbook here.
  • Is there a minimum amount I need in my account to use AutoTrade?
    Yes. You are required to deposit a minimum of $1000 USD in your account.
  • Can I connect my existing account AxiTrader account?
    No, you need to open a sub-account of your existing account to connect to AutoTrade. You can set up a sub-account via the client request panel. You can then either deposit funds to the new account or transfer funds from an existing account. If you prefer, you can call us or contact us on “live chat” for assistance.
  • Can I set up a Myfxbook for free?
    Yes you can, although once you start to trade using the live AutoTrade service, a part of the spread you pay on your trades will be paid to the AutoTrade provider (up to half a pip per profitable trade).
  • Can I use a pro account to connect to Myfxbook AutoTrade?
    No. You can only connect to Myfxbook with a standard account.
  • Can I use a demo account?
    Yes, you can use a demo account. You can set up a Myfxbook demo account by clicking on the “Open Demo Account” button at the top of the AutoTrade page on the Myfxbook website.
  • Can I still trade in my account if it is following a provider in AutoTrade?
    Yes, you may still place trades in your account.
  • How long will it take to approve my account for trading once it is added to Myfxbook?
    Once your AxiTrader account is set up you can apply for a Myfxbook AutoTrade account. Once you apply for an AutoTrade account it can take up to 48 hours for Myfxbook to approve your account.
  • Need more info?
    Check out the Myfxbook AutoTrade help section here. Or let us know if we have missed something here.

Myfxbook Provider FAQ

  • How do I become an AutoTrade provider?
    Simply connect your account to Myfxbook. If you have a proven track record, you will be able to offer your system for others to follow.
  • What is a proven track record?
    • A connected, real and verified MetaTrader 4 account with Myfxbook with least 3 months history.
    • Drawdown of no more than 50%.
    • Return of at least 10% more than drawdown
    • Average pip-win per trade of at least 10.
    • Average trade time over 5 minutes.
    • System must not use any martingale/grid techniques.
    • An account balance of at least $1000.

    If you have a connected AutoTrade account, you can check if it is eligible. Follow this link and click “Check Accounts” at the bottom of the page:
    http://www.myfxbook.com/autotrade/faq

  • What can I earn as a provider?
    You can earn up to half a pip for each winning trade.
  • How do I get paid my earnings?
    They will be deposited into your trading account.
  • Can my AutoTrade account be a demo account?
    No, Myfxbook requires it to be a real account.


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