Account Opening FAQs

  • How do I open a live trading account?

    Opening a Live trading account with AxiTrader is a fast and simple process - with electronic verification we can get you up and running in a matter of minutes.

    You can open a live trading account here.

  • How long does it take to open a trading account?

    Completing the application form is simple and can be completed in a few minutes. However, before we can open an account, we need to meet our regulatory requirements and verify the identity of the account holder.

    If we're able to confirm your identity electronically, an account can be opened almost instantly. When an individual is required to provide additional documentation for verification, we aim to have all accounts opened within 24 hours.

     

  • What is the main difference between Standard and Pro accounts?

    All trading accounts share similar features, with a few key differences aimed at different traders and strategies. For example, on Standard accounts there are no commission fees, whereas a Pro account has a significantly lower spread but charges commissions per transaction.

    Traders should determine which account is going to be best for their individual needs and trading style.

    Compare trading accounts here.

  • What is meant by ‘Base Currency’?

    Base currency means the currency in which your account is denominated. In other words, it is the currency you use to trade.

    The available base currencies are; AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, PLN, SGD, USD.

  • What identification documents are required to open a trading account?

    The documents needed to open an account depends on the type of account and the applicants. You will be prompted for all required documentation specific to your account during the application process but generally we require the following:

    • Valid proof of ID – Passport, driver’s license, and National Identity Card, and
    • Proof of address – Bank statement, utility bill (gas, heating, electricity, and internet) or tax invoice dated within the last three months and issued to your name and address. Please note: we cannot accept mobile/cell phone bills and credit card statements as a proof of address.

    Please make sure when completing your application to use an address which can be verified by your supporting documentation. If you cannot provide a matching proof of address on your application, we will not be able to open the account.

    If you want to enable someone else to trade on your account, you (the rightful owner of the account) will need to complete and sign a Limited Power of Attorney (LPOA) document. By doing so you will authorise the person to trade on your behalf. They will not be permitted to make deposits and withdrawals.

    If it is a corporate, trust or superannuation application, you will be requested to provide additional supporting documents during the application process. Documents can be uploaded directly within the application process or emailed to service@axitrader.com.

  • Can my company open an account?

    Yes, we welcome corporate accounts. Because the company application process is slightly different to an individual account, we recommend contacting our Customer Services team to guide you through the process.

    To open a company account with our UK branch, please email service@axitrader.com.

  • Can I open a joint account?

    Yes, we do offer joint accounts. However, because joint accounts give access to all parties to fund and withdraw without restriction, we strongly advise you fully understand and accept all the inherent risks associated with opening an account with a friend, family, partner or business partner.

  • Does AxiTrader offer Swap Free accounts?

    Yes, we offer Swap Free accounts for any traders unable to receive or pay interest due to religious or cultural reasons. The Swap Free account can be selected during the normal account application process.

    Please note: AxiTrader reserves the right to revoke the Swap Free status of any live account considered to be misused, trading in a suspicious manner or operating outside the realms of good faith.

  • Can I start with a Standard account and change to a Pro account later?

    Yes, you can upgrade to an additional Pro account on top of a Standard account. This can only be done by written request confirming the account required, base currency, leverage and a reason for requiring the additional account. You can submit an upgrade request via the Client Request Panel or via email at service@axitrader.com.

  • How much money do I need to open a trading account?

    It is free to open a Demo account for 30 days. To upgrade to a permanent Live account there is no minimum deposit but we recommend funding at least 200USD.

  • Why was I required to provide additional documents?

    As a fully regulated broker, we take security and fraud prevention extremely seriously. To ensure that our clients are protected, we adhere to strict identity verification methods during the account application process. On occasion, this may require you to submit additional support documentation to verify that you are who you say you are.

  • My country isn’t on the list to open an account. Why?

    AxiTrader has offices all around the world and is subject to the financial laws of numerous jurisdictions. Unfortunately, there are some countries which are marked as high risk or where trading is not permitted, so we are unable to open accounts for citizens in those countries.