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AxiTrader Alternatives

May 2019
Visit AxiTrader
68.5% of retail CFD accounts lose money
Our top picks for FXCM alternatives
Pepperstone
74.6% of retail CFD accounts lose money
Oanda
77% of retail CFD accounts lose money

The best alternatives to AxiTrader are

  1. Pepperstone - Australian forex broker
  2. IC Markets - Australian forex broker
  3. FXCM - UK-based forex broker

Let's see in a bit more detail how the AxiTrader alternatives compare to AxiTrader and each other:

AxiTrader alternatives comparison
AxiTrader Pepperstone IC Markets FXCM
Overall score 4.3 4.4 4.5 4.3
Fees score 4 stars 4 stars 5 stars 4 stars
Account opening score 4 stars 4 stars 5 stars 4 stars
Deposit and withdrawal score 4 stars 4 stars 5 stars 4 stars
Web platform score 3 stars 4 stars 4 stars 3 stars
Markets and products score 1 stars 1 stars 1 stars 1 stars
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68.5% of retail CFD accounts lose money
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74.6% of retail CFD accounts lose money
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74-89% of retail CFD accounts lose money
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73.62% of retail CFD accounts lose money

Why are these brokers considered good alternatives to AxiTrader? There are many areas based on which AxiTrader can be compared with others. When we say a given online broker is a good alternative to AxiTrader we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

AxiTrader alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • AxiTrader is recommended for forex traders familiar with metatrader 4 platform
  • Pepperstone is recommended for forex traders aiming for a good customer service
  • IC Markets is recommended for forex traders preferring easy account opening and free deposit and withdrawals
  • FXCM is recommended for forex traders looking for easy account opening, funding, and withdrawal processes

Important factors of finding AxiTrader alternatives

So far Brokerchooser has reviewed 41 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether AxiTrader or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. AxiTrader is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost AxiTrader alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at AxiTrader, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given AxiTrader alternative is a must.


Now let's dive into the details of how AxiTrader and its alternatives perform in the most important areas!

AxiTrader alternatives
AxiTrader

4.3 4 stars

AxiTrader logo

AxiTrader was founded in 2007 and it is an Australia-based FX broker. It is regulated by multiple financial authorities worldwide, such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Dubai Financial Services Authority (DFSA), and the Financial Markets Authority (FMA).

AxiTrader is considered safe because it has a long track record and is regulated by multiple top-tier authorities.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders familiar with metatrader 4 platform

Pros
  • Low trading fee and no inactivity fee
  • No withdrawal and deposit fees
  • Fully digital account opening
Cons
  • Only forex, CFD, and crypto offered
  • Limited research tools
  • Slow e-mail support

Visit broker
68.5% of retail CFD accounts lose money

Fees 4 stars

AxiTrader has low trading fees. It doesn't charge an inacitvity fee and withdrawal fee. On the other hand, the financing costs are not the lowest.
Pros
  • Low trading fees
  • No withdrawal fee
  • No inactivity fee
Cons
  • Higher financing rate
AxiTrader alternatives trading fees
AxiTrader Pepperstone IC Markets FXCM
EURUSD benchmark fee $18.6 $19.3 $14.4 $13.8
EURGBP benchmark fee $9.2 $11.6 $8.1 $16.4

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
68.5% of retail CFD accounts lose money

Account opening 4 stars

The account opening at AxiTrader is user-friendly and fully digital. It took ~2-3 business days until our account was approved.
Pros
  • Fully digital account opening
  • No minimum account balance
  • User-friendly
Cons
  • Bit slower account opening
AxiTrader alternatives minimum deposit and account open times
AxiTrader Pepperstone IC Markets FXCM
Minimum deposit $0 $0 $200 $0
Time to open account 1-3 days 1-3 days 1 day 1-3 days

Learn more about AxiTrader minimum deposit here.

More Visit broker
68.5% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

AxiTrader charges neither withdrawal nor deposit fees. For deposit, you can use bank transfer, credit/debit cards, and electronic wallets. However, for withdrawal only bank transfer is available.
Pros
  • Free withdrawal
  • No deposit fee
  • Credit/Debit card deposit available
Cons
  • Only bank transfer available for withdrawal
AxiTrader and alternatives withdrawal options and fees
AxiTrader Pepperstone IC Markets FXCM
Bank Transfer Yes Yes Yes Yes
Credit/Debit card No Yes Yes Yes
Electronic wallets No Yes Yes No
Withdrawal fee $0 $20 $0 $0

More Visit broker
68.5% of retail CFD accounts lose money

Web trading platform 3 stars

AxiTrader offers MetaTrader's web trading platform. It is highly customizable, available in a lot of languages, and has a clear fee report. On the negative side, it lacks a two-step login and the design is outdated.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Available in several languages
Cons
  • No two-step (safe) login
  • No price alerts
  • Does not look nice
AxiTrader - Web trading platform
AxiTrader and alternatives trading platform scores
AxiTrader Pepperstone IC Markets FXCM
Web platform score 3 stars 4 stars 4 stars 3 stars
Mobile platform score 4 stars 4 stars 4 stars 2 stars
Desktop platform score 3 stars 4 stars 4 stars 3 stars

Learn more about AxiTrader's web trading platform in the detailed AxiTrader review.

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68.5% of retail CFD accounts lose money

More Visit broker
68.5% of retail CFD accounts lose money

Markets and products 1 stars

AxiTrader offers only forex, CFDs, and cryptos. It lacks real stocks, ETFs, mutual funds, bonds, options, and futures.
AxiTrader and alternatives markets and products
AxiTrader Pepperstone IC Markets FXCM
Stock No No No No
ETF No No No No
Forex Yes Yes Yes Yes
Fund No No No No
Bond No No No No
Options No No No No
Futures No No No No
CFD Yes Yes Yes Yes
Crypto Yes Yes Yes Yes

More Visit broker
68.5% of retail CFD accounts lose money

Verdict

AxiTrader is regulated by multiple authorities globally, like the UK FCA or the Australian ASIC.

On the plus side, trading fees are low and no inactivity fee is charged. The deposit and withdrawals are also free of charge. Account opening is easy, and all digital. There is no minimum deposit which is also great.

AxiTrader has some drawbacks though. The product range is limited to FX, CFD, and cryptos. The research tools lack recommendations and fundamental data. Customer support is only 24/5 and the e-mail support is slow. 

As the trading fees are low and there are no deposit, withdrawal, and inactivity fees, feel free to try AxiTrader.

AxiTrader
Summary AxiTrader is an Australian forex broker regulated by top-tier regulators, such as the UK FCA or Australian ASIC.
Fees score 4 stars
Recommended for Forex traders familiar with MetaTrader 4 platform

More Visit broker
68.5% of retail CFD accounts lose money

AxiTrader alternatives
Pepperstone

4.4 4 stars

Best customer support

Pepperstone logo

Pepperstone is an Australian forex broker that also offers some CFDs. It was established in 2010 and opened a London office in 2015 to better serve European clients.

Pepperstone is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.

Pepperstone is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders aiming for a good customer service

Pros
  • Great customer service
  • User-friendly and fast account opening
  • Easy-to-use and good-looking platforms
Cons
  • Limited product portfolio
  • Limited research
  • Limited education

Visit broker
74.6% of retail CFD accounts lose money

Fees 4 stars

Pepperstone has low trading fees and average non-trading fees. It has no inactivity fee. On the negative side, the withdrawal fee is high.
Pros
  • Low trading fees
  • No inactivity fee
  • Transparent fee structure
Cons
  • Withdrawal fee
AxiTrader vs. Pepperstone: Trading fees
Pepperstone AxiTrader
EURUSD benchmark fee $19.3 $18.6
EURGBP benchmark fee $11.6 $9.2

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
74.6% of retail CFD accounts lose money

Account opening 4 stars

Pepperstone account opening is great. It is fully digital and user-friendly. On the negative side, it can take several days.
Pros
  • Fully digital account opening
  • User-friendly
  • Many account types
  • No minimum deposit for Standard Account
Cons
  • It can take 4-5 business days
AxiTrader vs. Pepperstone: Minimum deposit, time to open an account
Pepperstone AxiTrader
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

If you are interested more in Pepperstone minimum deposit, this overview will help you.

More Visit broker
74.6% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

Pepperstone offers a lot of deposit options, which are user-friendly. However, the withdrawal fees are high.
Pros
  • User-friendly
  • Free bank and electronic wallets deposit
  • Free credit and debit cards withdrawal
Cons
  • High withdrawal fee
AxiTrader vs. Pepperstone: Withdrawal options
Pepperstone AxiTrader
Bank Transfer Yes Yes
Credit/Debit card Yes No
Electronic wallets Yes No
Withdrawal fee $20 $0

More Visit broker
74.6% of retail CFD accounts lose money

Web trading platform 4 stars

Pepperstone offers only third-party trading platforms. We tested cTrader, which is a great platform: it is well-designed and user-friendly. On the negative side, it lacks the two-step login.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
Web trading platform of Pepperstone, a AxiTrader alternative
AxiTrader vs. Pepperstone: Trading platform scores
Pepperstone AxiTrader
Web platform score 4 stars 3 stars
Mobile platform score 4 stars 4 stars
Desktop platform score 4 stars 3 stars

Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.

Visit broker
74.6% of retail CFD accounts lose money

More Visit broker
74.6% of retail CFD accounts lose money

Markets and products 1 stars

At Pepperstone you can only trade with forex, some CFDs, and cryptos.
AxiTrader vs. Pepperstone: Markets and products
Pepperstone AxiTrader
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

More Visit broker
74.6% of retail CFD accounts lose money

Verdict

Pepperstone is a good FX and CFD broker. 

The customer service is great, you will get relevant answers within a short time. Account opening is a breeze, with no minimum deposits. The website is well-designed, clear and easy to navigate.

Pepperstone only offers FX and some CFDs. Its research and education tools could be improved, as there are not a lot of services and options.

Feel free to try Pepperstone. There is no inactivity fee or minimum deposit for standard accounts. 

Pepperstone
Summary Pepperstone is a forex and CFD broker regulated by both the FCA and the ASIC.
Fees score 4 stars
Recommended for Forex traders aiming for a good customer service

More Visit broker
74.6% of retail CFD accounts lose money

AxiTrader alternatives
IC Markets

4.5 5 stars

IC Markets logo

IC Markets is an Australian forex broker offering some CFDs too. It was founded in 2007.

IC Markets is considered safe because it is regulated by the top-tier Australian regulator, the Australian Securities and Investments Commission (ASIC).

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders preferring easy account opening and free deposit and withdrawals

Pros
  • Low fees
  • Easy and fast account opening
  • Free deposit and withdrawal
Cons
  • No investor protection
  • No negative balance protection
  • Only forex, CFD, and crypto trading is provided

Visit broker
74-89% of retail CFD accounts lose money

Fees 5 stars

IC Markets has low trading and non-trading fees.
Pros
  • Low trading fees
  • Low non-trading fees
  • No withdrawal fee
Cons
None
AxiTrader vs. IC Markets: Trading fees
IC Markets AxiTrader
EURUSD benchmark fee $14.4 $18.6
EURGBP benchmark fee $8.1 $9.2

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
74-89% of retail CFD accounts lose money

Account opening 5 stars

The account opening at IC Markets is user-friendly and fully digital. It was also very fast, it took only 1 day until our account was approved.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
None
AxiTrader vs. IC Markets: Minimum deposit, time to open an account
IC Markets AxiTrader
Minimum deposit $200 $0
Time to open account 1 day 1-3 days

If you are interested more in IC Markets minimum deposit, this overview will help you.

More Visit broker
74-89% of retail CFD accounts lose money

Deposit and withdrawal 5 stars

IC Markets does great at deposit and withdrawal. There are no fees for deposit and withdrawal. You can also use a lot of options for transferring money.
Pros
  • Credit/Debit card deposit and withdrawal
  • Free withdrawal
  • User-friendly
Cons
None
AxiTrader vs. IC Markets: Withdrawal options
IC Markets AxiTrader
Bank Transfer Yes Yes
Credit/Debit card Yes No
Electronic wallets Yes No
Withdrawal fee $0 $0

More Visit broker
74-89% of retail CFD accounts lose money

Web trading platform 4 stars

IC Markets offers only third-party trading platforms. We tested cTrader which is a great platform. It is well designed and user-friendly. On the flip side, it lacks the two-step login.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
Web trading platform of IC Markets, a AxiTrader alternative
AxiTrader vs. IC Markets: Trading platform scores
IC Markets AxiTrader
Web platform score 4 stars 3 stars
Mobile platform score 4 stars 4 stars
Desktop platform score 4 stars 3 stars

Learn more about IC Markets's web trading platform in the detailed IC Markets review.

Visit broker
74-89% of retail CFD accounts lose money

More Visit broker
74-89% of retail CFD accounts lose money

Markets and products 1 stars

At IC Markets, you can trade only forex, some CFDs, and cryptos. It lacks real stock, fund, bonds, options, and futures asset classes.
AxiTrader vs. IC Markets: Markets and products
IC Markets AxiTrader
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

More Visit broker
74-89% of retail CFD accounts lose money

Verdict

IC Markets is a great forex and CFD broker. 

Its fees are very low and the account opening is fast and easy. The deposit and withdrawal are free and user-friendly.

On the other hand, IC Markets offers only forex, CFD and crypto trading. It does not provide any investor and negative balance protection.

Feel free to try IC markets as you will have an account within a day and there is no inactivity fee. 

IC Markets
Summary IC Markets is a global forex and CFD broker.
Fees score 5 stars
Recommended for Forex traders preferring easy account opening and free deposit and withdrawals

More Visit broker
74-89% of retail CFD accounts lose money

AxiTrader alternatives
FXCM

4.3 4 stars

Best technical tools

FXCM logo

FXCM, or Forex Capital Market, is a London-based forex broker that also offers some CFDs. FXCM was established in 1999 and has two main shareholders: Jefferies Financial Group and Global Brokerage. Both parent companies are listed on stock exchanges.

FXCM is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.

FXCM is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex traders looking for easy account opening, funding, and withdrawal processes

Pros
  • Low trading fees and financing rates
  • Good technical research tools
  • Fast and straightforward account opening
Cons
  • Limited product portfolio
  • Poor mobile platform
  • Poor desktop trading platform

Visit broker
73.62% of retail CFD accounts lose money

Fees 4 stars

FXCM offers low trading fees and average non-trading fees.
Pros
  • Low trading fees
  • No withdrawal fee
  • Low financing rate
  • Transparent fee structure
Cons
  • Inactivity fee
AxiTrader vs. FXCM: Trading fees
FXCM AxiTrader
EURUSD benchmark fee $13.8 $18.6
EURGBP benchmark fee $16.4 $9.2

Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.

More Visit broker
73.62% of retail CFD accounts lose money

Account opening 4 stars

The account opening process at FXCM is hassle-free and straightforward. Furthermore, there is no minimum balance requirement.
Pros
  • Fully digital account opening
  • No minimum account balance
  • User-friendly
Cons
  • Account opening takes several days
AxiTrader vs. FXCM: Minimum deposit, time to open an account
FXCM AxiTrader
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

If you are interested more in FXCM minimum deposit, this overview will help you.

More Visit broker
73.62% of retail CFD accounts lose money

Deposit and withdrawal 4 stars

There are several options both for deposit and withdrawal. Also, the deposit is free of charge. On the negative side, withdrawal can be slow.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
Cons
  • Slow funding and withdrawal - over 3 days
  • Withdrawal fee for bank transfer can be high
AxiTrader vs. FXCM: Withdrawal options
FXCM AxiTrader
Bank Transfer Yes Yes
Credit/Debit card Yes No
Electronic wallets No No
Withdrawal fee $0 $0

More Visit broker
73.62% of retail CFD accounts lose money

Web trading platform 3 stars

FXCM's trading platform is extremely customizable. It also offers a lot of order types. On the other hand, there is no two-step login and setting alerts is a pain.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Available in several languages
Cons
  • No two-step (safe) login
  • Setting alerts is complicated
Web trading platform of FXCM, a AxiTrader alternative
AxiTrader vs. FXCM: Trading platform scores
FXCM AxiTrader
Web platform score 3 stars 3 stars
Mobile platform score 2 stars 4 stars
Desktop platform score 3 stars 3 stars

Learn more about FXCM's web trading platform in the detailed FXCM review.

Visit broker
73.62% of retail CFD accounts lose money

More Visit broker
73.62% of retail CFD accounts lose money

Markets and products 1 stars

At FXCM you will only have access to some forex, some CFDs, and Bitcoin trading.
AxiTrader vs. FXCM: Markets and products
FXCM AxiTrader
Stock No No
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes Yes

More Visit broker
73.62% of retail CFD accounts lose money

Verdict

FXCM has low trading fees and financing rates. Its technical research tools are high quality and well organized. It also offers fast and straightforward account opening.

However, FXCM only offers forex, some CFDs and cryptos. Their mobile and desktop trading platforms need an update, as they are outdated and not user-friendly.

Feel free to try FXCM. There is no minimum deposit, and the inactivity fee only kicks in after a year.

FXCM
Summary FXCM is a UK-based forex broker offering forex and CFD trading. FXCM is regulated by the UK FCA and the Australian ASIC.
Fees score 4 stars
Recommended for Forex traders looking for easy account opening, funding, and withdrawal processes

More Visit broker
73.62% of retail CFD accounts lose money

AxiTrader alternatives
Bottom line

Based on our analysis, there are several good alternatives to AxiTrader. They all offer similar products and target similar customers. Here's a recap of the results in a table.

AxiTrader alternatives
Broker Info Recommended for
AxiTrader Australian forex broker Forex traders familiar with MetaTrader 4 platform
Pepperstone Australian forex broker Forex traders aiming for a good customer service
IC Markets Australian forex broker Forex traders preferring easy account opening and free deposit and withdrawals
FXCM UK-based forex broker Forex traders looking for easy account opening, funding, and withdrawal processes

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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