How to Trade Forex with AxiTrader

  • How many FX pairs does AxiTrader offer?

    AxiTrader currently offers 66 Forex pairs for trading. A full list of all available pairs can be viewed in the MT4 trading terminal, within the Market Watch window.

  • What times can I trade?

    AxiTrader's FX pricing currently operates between Monday 00:00 and Friday 24:00 (MT4 Server Time).

  • Can I trade micro lots and mini lots with AxiTrader?

    Yes. You are able to trade micro, mini and standard lot sizes on Standard and Pro accounts. The trade size can start at a minimum of 0.01 of a lot, up to a maximum of 50 standard lots.

  • What are AxiTrader’s commissions?

    Standard accounts have no fees and no commissions. Pro accounts charge a small commission of USD$3.50 per lot ($7 round trip) in conjunction for having lower spreads. For more details and the latest pricing, please refer to our product schedule.

  • How do I calculate Profit and Loss?

    Your Profit and Loss is automatically calculated in your MT4 platform. To manually calculate your Profit or Loss, you can use the following formula:

    (Closing Rate – Opening Rate) x (Closing {quote} / {home currency}) x Units

    Use the following information as an example:

    Home Currency: USD
    Currency Pair: GBP/CHF
    Base = GBP; Quote = CHF
    Quote / Home Currency = CHF/USD = 1.1025
    Opening Rate = 2.1443
    Closing Rate = 2.1452
    Units = 1000

    To calculate the profit/loss:

    (2.1452 – 2.1443) x (1.1025) x 1000

    Your profit = $0.99225

     

  • What is Margin?

    Margin is used in Forex trading to allow a trader to take positions of a higher value than the amount of funds in their trading account. There are twol different kinds of margin, Initial Margin and Variation Margin.

    • Initial Margin is the minimum amount you need to have in your account in order to open a position
    • Variation Margin is based on the current value of all open positions

  • How do I calculate my FX margin requirement?

    For a detailed description and example of Margin calculations, please visit our Margins and Leverage page.

  • Is there a Margin Stop Out level?

    If your margin level falls below the Liquidation Level, or zero, (whichever is the greater), we will place a liquidation order for your open Position(s). The Liquidation Level is 20%, unless varied by us in writing. Our system will close out the largest losing position to bring you back above the 20% margin level.

  • What is the Swap Rate?

    A Swap Rate is defined as an overnight or rollover interest (that is earned or paid) for holding positions overnight in foreign exchange trading. For more information about Swap Rates and how they are calculated, please refer to our Swap Rate & Rollovers page.

  • How do I find the Swap rate?

    Swap rates can be found within the MT4 trading platform:

    1. Right click on a pair in the "Market Watch" panel of MT4
    2. Select "Symbols", choose the symbol you wish to view then select "Properties".

    All the features of the currency pair, including the relevant swap rates, will be displayed.

  • I received/paid triple the amount of interest I normally would receive/pay

    For positions that are open on Wednesday (AEST) 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. This is due to the markets being closed on weekends and no swap rates being charged during that time. The triple swap is a way to account for the period when the market is closed.

  • What time is the swap calculated and applied?

    AxiTrader applies swaps daily between 23:59:30 – 23:59:59 MT4 Server time (5PM New York close). For certain currency pairs, triple daily swaps are applied at the end of Wednesday.

  • Do you allow hedging? If so, do you need to provide full margin for each transaction?

    Yes. Axitrader allows two transactions in opposite directions within the same instrument. This is deemed to be a Hedged Transaction. When holding open Bought and Sold transactions in the same instrument, the transactions will be charged at half of the standard margin requirement.

  • The chart price appeared to reach my Take Profit but did not trigger. Why?

    Charts show the Bid price only so should not be relied on solely to determine the actual market Offer. The spread must also be considered within the context of different order types and how they are triggered:

    • For a Buy Limit the market has to be Offered at, or below, your chosen level
    • For a Sell Limit the market has to be Bid at, or above, your chosen level
    • For a Buy Stop the market has to be Offered at, or above, your chosen level
    • For a Sell Stop the market has to be Bid at, or below, your chosen level

    To view the Offer price on your chart, you can use Custom Indicators. that are available to show the Offer on your chart.

  • Do you prohibit any trading styles?

    AxiTrader accepts all legitimate trading styles, including the use of EAs (Expert Advisors). Latency arbitrage trades will be cancelled.

  • Is there a maximum slippage level?

    No. Slippage is a natural part of the fast moving trading market and it works both positively and negatively. Slippage occurs when an order is placed at a particular price, but before it can be filled the market moves and that price is no longer available.

  • Can I place a trade via e-mail?

    No. All trades need to be placed either on your MT4 platform or with our Trading Desk. To place a trade over the phone with our Trading Desk, call +61 2 8037 7330 during normal market opening hours.

  • What’s the difference between a Pip, Tick and Point?

    A Pip represents the change in value between two currencies. For example, if the EUR/USD moves from 1.2250 to 1.2251 it has moved by 0.0001 or one Pip.

    A Tick is similar to a Pip, but it may not measure every increment equally. For example, A Tick on one instrument may be measured in increments of 0.0001 whereas another instrument may be measured in increments of 0.25. A Tick is simply the smallest increment a particular instrument can move in.

    A Point is a shift in the dollar amount. For example, if a share price went from $25 to $30, traders would say it has moved 5 points. For FX a point is used to refer to the 5th decimal place.

  • Can I place a trade when the market is closed?

    No. You cannot open, modify or close trades when the market is closed.

  • How are currency prices determined?

    Exchange rates are determined by basic supply and demand factors, including interest rates, economic growth, inflation and major events like war or political change.

  • How do I know when major economic news announcements are due?

    You can use our economic calendar to keep up to date with significant announcements and times of major scheduled market movement.

  • What is the difference between a Long or Short position in Forex?

    When a currency pair is Long, the first currency is bought while the second currency is sold. To "go long" means you are buying in anticipation that the price will rise. A Short position occurs when the first currency is sold while the second currency is bought. "Going short" on a currency means you are selling it and hoping the market price will decline.

  • Can I hold positions over the weekend and major holidays?

    Yes. All positions can be held over the weekend and major holidays. However, the market open or close times may be altered due to a lack of liquidity or pricing updates. Traders with open positions over weekends should be aware that these positions are susceptible to additional risk when significant events occur during the market closure.

  • What is Over The Counter (OTC) trading?

    Over The Counter (OTC) is an alternative to a centralised exchange such as the New York Stock Exchange. Instead of going through the formal exchange, trades are done via a network of dealers or brokers on the open market.