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Frequently Asked Questions

About AxiTrader

  • 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.

  • Is AxiTrader Regulated?

    The AxiCorp group of companies is authorised and regulated by the Financial Conduct Authority of the United Kingdom and the Australian Securities & Investment Commission.

  • Do you have 24 hour support?

    AxiTrader runs a 24 hour Client Services and trading desk 5 days a week starting from 08.00am AEST (00.00 server time) Monday morning and ending at 08.00am AEST on Saturday morning.

    Call Client Services on our toll free number 1300 888 936 (Australia). International callers, please phone +612 9965 5830. Alternatively, you can use our live chat facility during the same period.

Funding and withdrawals

  • How do I deposit funds?

    AxiTrader offers multi-channel funding. We also allow broker-to-broker transfers from selected companies. See Account Funding for more details.

  • What is the minimum I can deposit?

    AxiTrader’s has no minimum deposit requirements, you are free to deposit any amount.

  • What currencies are available to deposit with?

    Most major currencies including: AUD, USD, GBP, CAD, SGD, CHF, HKD, JPY, EUR, NZD, IDR, TWD.

    If using your own bank to convert funds, you may be subject to a very high conversion rate and fees. View our Account Funding page for more information on our funding options.

  • How long does it take to receive funds in 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 usually be available in your account within 10 minutes of completing the transaction.

  • 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 free equity of AUD$10,000.

  • How do I withdraw funds?

    Use your MT4 Login and password to submit a withdrawal request here. Alternatively, contact your account manager or service@axitrader.com.

    Funds can only be sent back to an account in the same name as the trading account, e.g. if you have a company account you can’t withdraw funds to an account in the name of an individual.

  • 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.

  • How long does it take for a withdrawal to be completed?

    All withdrawal requests are processed Monday to Friday between 9am and 3pm (Sydney Time). Requests submitted after 3pm Sydney will be processed the following day. Please note that AxiTader cannot guarantee same day value for receipt of funds. Processing times are subject to the receiving bank processes. International Transfers may take between 2 - 5 days to be received.

  • What are the fees to deposit and withdraw from my AxiTrader account?

    From June 1st, 2016, AxiTrader will cover all fees usually charged by our acquiring banks and payment processors instead of passing on the cost to you (a saving of 0.9% - 3.89%). View the ‘Important Information and Fees’ section on our Account Funding page for more information.

  • How often do I receive account statements?

    You receive daily confirmations 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.

  • 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 email Safe Senders list, or check your spam filter.

AxiTrader Trading Accounts

  • How many currency pairs does AxiTrader offer?

    View the complete list of AxiTrader’s tradable currency pairs 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 changes with daylight savings 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?

    We derive our prices from those available to us in the underlying Foreign Exchange markets through our various counterparties. We aggregate the prices available to us and derive our bid and offer from the best bid and ask available. The prices published are our prices and you only deal with us. Prices quoted or available from other product issuers are not available to our clients.

    Reflecting the underlying currency markets, prices can be volatile and spreads can vary widely. Clients are advised to consider the risks of volatility and manage their positions and exposures accordingly.

  • 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 AEST), 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.

  • How long does a demo account last for?

    AxiTrader’s MT4 Practice (Demo) Accounts last for 30 days. If you’d like to avoid expiry, you’ll need to contact Client Services or your account manager to discuss the requirements for extension.

  • 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 FX pairs, plus gold, silver and WTI. We allow a minimum trade size of one mini lot (0.1 volume and 10,000 base currency) on our Pro accounts for all 61 FX pairs, plus gold, silver and WTI. For all product specifications please refer to the Product Schedule.

  • Does AxiTrader have any trade restrictions?

    AxiTrader allows most types of trading, including EAs and hedging.

  • 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).

  • Can I have a demo account and live account with AxiTrader?

    AxiTrader's MT4 supports multiple live and demo accounts. 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 Client Services department service@axitrader.com.

  • What is the maximum leverage you offer?

    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.

  • Can I trade with Expert Advisors (EAs)?

    Yes, AxiTrader allows all Expert Advisors.

  • 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?

    Please visit the Compare Accounts page to determine which account is right for you.

  • Does it cost to open an account at AxiTrader?

    AxiTrader has no account opening or monthly fees.

  • How do I change my password?

    1. Login to MT4
    2. Select the top menu option of ‘Tools’, then click ‘Options’
    3. Select the ‘server’ tab and click ‘change password’.

  • I’ve forgotten my password. What should I do?

    If you have forgotten your MT4 password, you can reset it here.

  • How do I close my AxiTrader account?

    Make sure all the trades in your MT4 account are closed and simply email our Client Services team and they will process your request.

  • How can I change my account details?

    Let our Client Services team know via email what changes need to be made to your account by emailing service@axitrader.com.

    If they require any further information they will contact you.

MetaTrader MT4 Platform

  • What platforms does AxiTrader offer?

    AxiTrader offers the award-winning MetaTrader 4 platform for trading Forex, Indices and Commodities. We also offer MT4 WebTrader for internet browsers and mobile trading platforms for AndroidiPhone and iPad. These platforms are all free of charge.

  • How can I download MetaTrader 4?

    To download MT4, simply open a demo account. We'll send you all of the information you need to download and get started with MetaTrader 4 on PC, Mac, Web, iOS and Android. 

    If you're already an AxiTrader client, you can access the MetaTrader 4 software at any time from our Client Portal.

  • What’s the time setting on your MetaTrader 4 platform? Can it be changed?

    The time setting that appears on AxiTrader’s MetaTrader 4 is GMT+2, also known as ‘New York Close’. This means trading begins at 00:00 server time, 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 Sundays with GMT based platforms.

  • How do I move my own chart settings to another PC?

    1. Go to ‘File’ up the top left of your MT4 platform
    2. Go to profiles, then select ‘save as’
    3. Go to the MetaTrader –AxiTrader folder in ‘Program files’
    4. Copy the folder named ‘profiles’ and paste it into your new MetaTrader folder

    You can do the same for the indicator folders and experts folder.

  • Is your MT4 Platform Mac compatible?

    Yes, AxiTrader has developed its own Mac compatible platform for MetaTrader 4. Download it here. Alternatively, you can use the MT4 WebTrader application on your web-based browser.

  • Do you have trading platforms for mobile devices?

    Yes, we have platforms for Android and iOS. You can also use the MT4 WebTrader application on mobile based browsers. All these platforms are provided free with your MT4 account.

  • What does the error message ‘trade context is busy’ mean?

    This error can occurs when the server receives multiple requests for the same order/trade. Please restart MetaTrader 4 to resolve.

  • Why do I see an invalid account message?

    For Live accounts: This is either one of two errors: incorrect login or password. If you are still having issues after attempting to re-enter details, please contact us.

    For Demo Accounts: This means you’ve either entered the wrong login or password, or your 30 day demo has expired. You can get access to an unlimited demo by opening and funding a live account. Once opened, send your MT4 Demo login to service@axitrader.com to make it unlimited.

     

  • Is the pricing on the chart the bid price or the ask price?

    The pricing that is shown on MT4 is the Bid price (SELL price). To show the Ask price (BUY price), right click on the chart, then click “Properties”. Under the Common tab in the new window, tick on ‘Show Ask line’. Please note you will not be able to see the ‘ASK’ price/line retrospectively.

  • Why does my platform not perform the live update?

    Live updates failing to run automatically are commonly due to restrictions in Windows. Users of Windows Vista or Windows 7 will need to make sure MT4 is set to ‘run as an administrator’ so that it can perform the live updates automatically as required. To run the platform as administrator, right click on your desktop icon, and click “Run as administrator”. When you reopen MT4 you will be prompted to complete a Live Update.

  • How do I create a Pro demo account?

    As standard, our demo accounts display our Standard Account pricing, but due to popular demand, we have made a Pro Account Demo available for traders who’d like to give it a test drive.

    Click here for instructions on how to quickly generate Pro Account Demo via MT4.

FX Trading

  • What is the swap that I have to pay if I hold a position overnight?

    The foreign exchange markets by convention adjust the value of an open position to reflect the different interest rates applicable to the underlying currencies.

    If you have an open position at the end of day in which you have taken the long/bought side in the high yielding currency then the value of the swap fee is typically in your favour to reflect the difference between the interest rates on the two currencies.

    If you have an open position at the end of day in which you have taken the long/bought position in the low yielding currency then the value of the swap fee is typically against you. In certain market conditions AxiTrader may require Clients to pay a Swap Fee where ordinarily they would have received a Swap Fee. AxiTrader applies swaps daily at 24:00 MT4 Server time (5PM New York close). Triple daily swaps are applied on Wednesday and Thursday for the applicable currency pairs.  Swap Fees are applied in your Account Currency. The Swap Fee accrues whilst the position remains open and is credited or debited to Client Accounts when the trade is closed.

  • How do I find out the swap rate?

    Swap rates can be found on the trading platform. To see the swap charges for a currency position:

    1. Right click on a pair in the ‘market watch’ panel of MT4.
    2. Then, select symbols and choose the symbol you wish to view then select properties.
    3. This will display 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?

    Standard Account No commissions are charged on transactions executed in our Standard Accounts. Our transaction fees are incorporated into the bid-offer spread for each instrument (AxiCorp Spread).

    PRO Accounts Commissions are payable on Foreign Exchange transactions on PRO accounts on closed trade basis. Commissions are AUD7.00 per round turn per standard contract for AUD accounts. Please refer to the Product Schedule for all fees.

  • 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 $0.10), 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 0.01 (0.01 unit/pip or $0.10/pip i.e. a micro 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 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 on Japanese Yen which is priced to 3 decimal places. On our Pro accounts, there is no distance required to set stop-loss and take-profit.

  • What is your average spread on major FX pairs?

    You can view our minimum, average and live spreads for each currency pair at any time. You can compare our live and historical spreads against other brokers right using our free spread comparison tool.

  • 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 open or close the contracts on price strength.
    • Sell Stop – Below Market Price i.e. You set the stop below the market so when the market hits the price, you open or close the contracts on price weakness.
    • Sell Limit – Above Market Price i.e. You set the price above the market price you wish to take profit or open a short position at a more favourable price than the current market price.
    • Buy Limit – Below Market Price i.e. You set the price below the market as you wish to take profit or open a long position at a more favourable price than the current market price.

Metal, Oil & CFD Trading

  • What time does gold open on MT4?

    Monday 01:00 Server Time

  • How much is gold to trade?

    • 100 ounces = 1.0 Standard Lot ($1 USD for each Pip Movement)
    • 10 ounces = .1 Mini Lot ($0.10 USD for each Pip Movement)
    • 1 ounce = .01 Micro Lot ($0.01 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)
    • 500 ounces = 0.1 Mini Lot ($2.50 USD for each price tick)
    • 50 ounces = .01 Micro Lot ($0.25c 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:

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