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Frequently Asked Questions

About AxiTrader

  • Is your company UK owned?

    AxiCorp Ltd is a wholly owned subsidiary of AxiCorp Financial Services Pty Ltd in Australia ACN 127 606 348 AFSL 318232.

AxiTrader Trading Accounts

  • How many currency pairs does AxiTrader offer?

    Please refer to our Product Schedule for more information.

  • What is the minimum I can deposit?

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

  • What are the Trading Hours?

    AxiTrader’s FX pricing currently opens at 21:00 Sunday evening GMT and remains open until 21:00 Friday evening (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?

    All prices on AxiTrader’s products are obtained from our Australian parent which is the sole Execution Venue for all Contracts for Difference and Spread Trading.

    When executing Trades for Contracts for Difference, Spread Trading and other OTC financial derivative products with you, AxiTrader will take all reasonable steps to achieve the best possible outcome taking into account its Execution Policy and any specific instructions received from you. Customers should refer to the Execution Policy which forms part of the Customer Agreement.

    Our Australian parent, AxiCorp Financial Services Pty Ltd, derives its Foreign Exchange and Bullion prices from a range of market counterparties. Prices on Equity Index CFDs and Commodity CFDs are derived from the underlying exchange traded instrument.

  • What time do your charts reflect, why?

    The time setting that appears on AxiTrader’s MetaTrader 4 is currently GMT+2, which is also known as ‘New York Close’. This means trading begins at 00:00 server time (currently 22:00 GMT), 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 22:00 GMT Sunday evening.

  • 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, as well as gold, silver and WTI. Please refer to our Product Schedule for more information.

  • 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.

  • 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 for Android and iPhone.

  • Can I trade with Expert Advisors (EAs)?

    Yes, AxiTrader allows all Expert Advisors, including scalping EAs.

  • 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.

  • 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.

Account Opening and Operation

  • Do you have 24 hour support?

    Yes, AxiTrader runs a 24-hour customer service and trading desk five days a week, starting from 22:00 (00.00 server time) Sunday night GMT and ending at 22:00 on Friday Night (GMT). Refer to our Contact Us page for more details.

  • How do I withdraw funds from my AxiTrader Account and how long does it take?

    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: service@axitrader.co.uk

    During normal AxiTrader operating hours of Monday to Friday (8:30 AM – 6.00 PM GMT), 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 one to three business days to reach your account.

    Note: AxiTrader can only make payments to bank accounts held in the same name as the Customer Account. No 3rd-party payment requests will be accepted. 

    AxiTrader is not able to process account withdrawals to credit cards. Withdrawals can be made using bank wire/transfer only. On processing a withdrawal request AxiTrader may require additional information to prove that the beneficiary account is under your name as third-party remittances are not permitted. All Fees and Charges are detailed in the Product Schedule.

  • How do I deposit funds to my AxiTrader account and how long does it take?

    If you have funded via bank transfer, funds will need to clear before they appear in your trading account. This can take one to three working days, depending on your location.

    If you have funded via credit card, funds will be available in your account within ten minutes of completing the transaction.

    Please note that all money deposited into your account must come from a bank account or Credit Card in the same name as your AxiTrader trading account. Only cleared funds will be credited to customer accounts and AxiTrader cannot rely on promised funds so please consider this when remitting funds to satisfy a margin requirement.

    AxiTrader offers several different funding options including:

    • VISA
    • MasterCard
    • MasterCard Debit Card
    • VISA Delta
    • Maestro
    • JCB
    • Wire Transfer to Lloyds
    • MasterPass

    We also allows broker-to-broker transfers from selected companies. See the Account Funding page for more details.

  • 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.

  • Does AxiTrader have any trade restrictions?

    AxiTrader allows all trading, including EAs, scalping and hedging.

  • What currency will my AxiTrader account be and can I change my currency account balance?

    AxiTrader MT4 Accounts are available in EUR, GBP & USD.

    AxiTrader MT4 Account currency cannot be changed once established. If you wish to change the account currency, you must establish a new account. Please note that the account history cannot be transferred to a new MT4 Account.

    For remittance details for the various currencies, please refer to our Account Funding area.

  • How do I close my AxiTrader account?

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

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 daily 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. Rollover is performed each morning at 00:00 Server time.

  • 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 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?

    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 $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).

  • 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?

    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 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 Metal, oil, and CFDs 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 calculate 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 ($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:

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.

  • 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 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 for Android and iPhone.

  • 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.co.uk 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.

    To generate Pro Account Demo login details:

    1. Open AxiTrader's MetaTrader 4 (If you haven't yet downloaded the platform you'll need to submit for a MT4 Demo Account, or if you're an existing client Login to the Client Portal)

    2. Go to 'File' > 'Open an Account'

    3. Select 'AxiTrader-US03-Demo' > Click 'Next'

    4. Select 'New Demo Account' and click 'Next'

    5. Proceed to complete your details, making sure to select account type with the name 'PRO' in it (e.g. AUDPRO) then Click 'Next'

    6. You're done!

    Why use a Pro Account?

    • No spread mark-up, just institutional-grade spreads
    • A highly transparent, commission-based pricing structure
    • Our commissions are amongst the lowest in the industry, at $7 per round turn (USD)
    • Particularly useful for high-volume traders, scalpers and those who trade with Expert Advisors (EAs) who prefer raw spreads

    Need Help?

    Get in touch. We're available 24 hours a day, Monday to Friday to help.

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