The best alternatives to AxiTrader are
- Pepperstone - Australian forex broker
- IC Markets - Australian forex broker
- FXCM - UK-based forex broker
Let's see in a bit more detail how the AxiTrader alternatives compare to AxiTrader and each other:
| AxiTrader | Pepperstone | IC Markets | FXCM | |
|---|---|---|---|---|
| Overall score | 4.4 | 4.5 | 4.4 | 4.2 |
| Fees score | 4.5 stars | 4.4 stars | 4.3 stars | 3.8 stars |
| Account opening score | 4.4 stars | 5.0 stars | 5.0 stars | 4.4 stars |
| Deposit and withdrawal score | 4.8 stars | 4.8 stars | 4.9 stars | 4.0 stars |
| Web platform score | 2.6 stars | 2.8 stars | 2.8 stars | 2.5 stars |
| Markets and products score | 1.8 stars | 1.7 stars | 1.7 stars | 1.4 stars |
|
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67.7% of retail CFD accounts lose money |
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78.6% of retail CFD accounts lose money |
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74-89% of retail CFD accounts lose money |
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73.05% 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 the metatrader 4 platform
- Pepperstone is recommended for forex traders looking for low fees and good customer service
- IC Markets is recommended for forex traders who value easy account opening and free deposit/withdrawal options
- FXCM is recommended for forex traders looking for easy account opening, funding, and withdrawal
Important factors of finding AxiTrader alternatives
So far BrokerChooser has reviewed 63 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
AxiTrader was founded in 2007 and is an Australian forex broker. It is regulated by multiple financial authorities worldwide, such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC) and the Dubai Financial Services Authority (DFSA).
As such, AxiTrader is considered safe because it is regulated by several top-tier authorities.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.7% 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 the metatrader 4 platform
| Pros | Cons |
|---|---|
| • Low trading fees and no inactivity fee | • Offers only forex and CFD trading |
| • No withdrawal and deposit fees | • Limited research tools |
| • Fully digital account opening | • Slow email support |
Fees
AxiTrader has low forex and CFD fees. There is no withdrawal fee and the inactivity fee is low.
| Pros | Cons |
|---|---|
| • Low non-trading fees | None |
| • Low forex fees | |
| • Low CFD fees |
| AxiTrader | Pepperstone | IC Markets | FXCM | |
|---|---|---|---|---|
| EURUSD benchmark fee | $13.8 | $14.8 | $15.8 | $16.5 |
| EURGBP benchmark fee | $11.0 | $10.7 | $9.9 | $12.2 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
Account opening at AxiTrader is user-friendly and fully digital but it takes a bit longer than at similar online brokers.
| Pros | Cons |
|---|---|
| • Fully digital | • Slower account opening time |
| • No minimum deposit | |
| • Low minimum deposit |
| AxiTrader | Pepperstone | IC Markets | FXCM | |
|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $200 | $360 |
| Time to open account | 1-3 days | 1 day | 1 day | 1-3 days |
Learn more about AxiTrader minimum deposit here.
Deposit and withdrawal
AxiTrader charges neither deposit nor withdrawal fees. For depositing, you can use bank transfer, credit/debit cards and electronic wallets. Nevertheless, credit/debit card withdrawal is not possible.
| Pros | Cons |
|---|---|
| • Free withdrawal | • No credit/debit card withdrawal |
| • No deposit fee |
| AxiTrader | Pepperstone | IC Markets | FXCM | |
|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | Yes | Yes | Yes |
| Electronic wallets | Yes | Yes | Yes | Yes |
| Withdrawal fee | $0 | $0 | $0 | $0 |
Web trading platform
The web trading platform of AxiTrader is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login, price alerts, and the design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation |
| AxiTrader | Pepperstone | IC Markets | FXCM | |
|---|---|---|---|---|
| Web platform score | 2.6 stars | 2.8 stars | 2.8 stars | 2.5 stars |
| Mobile platform score | 3.8 stars | 3.8 stars | 3.8 stars | 1.0 stars |
| Desktop platform score | 3.3 stars | 3.3 stars | 3.3 stars | 3.0 stars |
Learn more about AxiTrader's web trading platform in the detailed AxiTrader review.
Markets and products
AxiTrader offers only forex and CFD trading.
| 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 |
Verdict
AxiTrader is regulated by multiple authorities globally, like the UK's FCA and ASIC in Australia.
On the plus side, trading fees are low and no inactivity fee is charged. Depositing and withdrawals are also free of charge. Account opening is easy and fully digital, without any minimum deposit, which is also great.
AxiTrader has some drawbacks, though. Its product range is limited to FX and CFDs, and its research tools lack recommendations and fundamental data. In addition, customer support is only 24/5 and email support is slow.
Feel free to try AxiTrader, as the trading fees are low and there are no deposit, withdrawal or inactivity fees.
| AxiTrader | |
|---|---|
| Summary | AxiTrader is an Australian forex broker, regulated by top-tier authorities such as the UK FCA or Australia's ASIC. |
| Fees score | 4.5 stars |
| Recommended for | Forex traders familiar with the MetaTrader 4 platform |
AxiTrader alternatives
Pepperstone
Pepperstone is an Australian forex broker that also offers some CFDs. It was established in 2010 and opened a London office in 2015 to be able to better serve its European clients.
Pepperstone is considered safe since it's regulated by two top-tier financial authorities, the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% 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 low fees and good customer service
| Pros | Cons |
|---|---|
| • Low forex and equity index CFD fees | • Only forex and CFDs |
| • Great customer service | • Basic news flow, |
| • Seamless and free deposit and withdrawal | • No investor protection for non-EU clients |
Fees
Pepperstone has low forex and equity index fees. Non-trading fees are low as well, as no inactivity or account fee is charged. On the negative side, CFD financing rates, i.e. fees for holding CFD positions overnight, are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High financing rate for CFDs |
| • Low non-trading fees | |
| • Low forex fees |
| Pepperstone | AxiTrader | |
|---|---|---|
| EURUSD benchmark fee | $14.8 | $13.8 |
| EURGBP benchmark fee | $10.7 | $11.0 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
Pepperstone's account opening is great. It is fully digital, user-friendly, and requires no minimum deposit for the Standard account.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Pepperstone | AxiTrader | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1-3 days |
If you are interested more in Pepperstone minimum deposit, this overview will help you.
Deposit and withdrawal
Pepperstone provides plenty of options for deposit and withdrawal, as well as a wide selection of account base currencies. However, there is a high, $20 fee for bank withdrawals for clients outside the EU and Australia.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • High bank withdrawal fee for clients outside the EU/Australia |
| • No deposit fee | |
| • Several account base currencies |
| Pepperstone | AxiTrader | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | No |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
Pepperstone's web trading platform is provided by MetaTrader. It is highly customizable, available in many languages, and has a clear fee report. On the other hand, it lacks two-step login and price alerts, and its design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation |
| Pepperstone | AxiTrader | |
|---|---|---|
| Web platform score | 2.8 stars | 2.6 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.3 stars | 3.3 stars |
Learn more about Pepperstone's web trading platform in the detailed Pepperstone review.
Markets and products
At Pepperstone you can only trade with forex and other CFDs (commodities, stock indices, share CFDs, cryptos)
| 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 |
Verdict
Pepperstone is a great forex and CFD broker, regulated by the top-tier FCA and ASIC.
Forex and equity index fees are low. Customer service is great, giving you relevant answers within a short time. Deposit and withdrawal are a breeze, with no fees charged.
On the other hand, Pepperstone provides only forex, CFDs and cryptos to trade with. Their news flow is rather basic. Lastly, there is no investor protection for non-EU clients.
Feel free to try Pepperstone since there is no inactivity fee or minimum deposit for standard accounts.
| Pepperstone | |
|---|---|
| Summary | Pepperstone is a forex and CFD broker regulated by both the UK FCA and the ASIC in Australia. |
| Fees score | 4.4 stars |
| Recommended for | Forex traders looking for low fees and good customer service |
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AxiTrader alternatives
IC Markets
IC Markets is a global FX and CFD broker that was founded in 2007. The company has serveral branches and is regulated by the Cyprus Securities and Exchange Commission (CYSEC) and the Seychelles Financial Supervisory Authority (FSA).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% 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 who value easy account opening and free deposit/withdrawal options
| Pros | Cons |
|---|---|
| • Low forex fees | • No investor protection |
| • Easy and fast account opening | • No negative account balance protection |
| • Free deposit and withdrawal | • Limited number of available CFDs |
Fees
IC Markets has low trading and non-trading fees. There is no inactivity or withdrawal fee. On the negative side, financing rates for CFDs are high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High financing rate for CFDs |
| • Low non-trading fees | |
| • Low forex fees |
| IC Markets | AxiTrader | |
|---|---|---|
| EURUSD benchmark fee | $15.8 | $13.8 |
| EURGBP benchmark fee | $9.9 | $11.0 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
The account opening process at IC Markets is user-friendly and fully digital. It was also very quick, as our account was approved within a day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| 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.
Deposit and withdrawal
IC Markets's depositing and withdrawal services are great. There are no fees for either and many options are available for moving your money in and out.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee |
| IC Markets | AxiTrader | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | No |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
The web trading platform of IC Markets is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation | • Poor design |
| IC Markets | AxiTrader | |
|---|---|---|
| Web platform score | 2.8 stars | 2.6 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.3 stars | 3.3 stars |
Learn more about IC Markets's web trading platform in the detailed IC Markets review.
Markets and products
At IC Markets, you can trade only with forex, some CFDs, and crypto products, no other assets are available.
| 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 |
Verdict
IC Markets is a great forex and CFD broker.
Its forex fees are low and account opening is fast and easy. Deposits and withdrawals are free and user-friendly. The education section of its website is also a plus.
On the other hand, IC Markets offers only forex, stock CFD, crypto trading and a limited number of CFDs on futures, bonds, indicies. It also does not provide any investor or negative account 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 | 4.3 stars |
| Recommended for | Forex traders who value easy account opening and free deposit/withdrawal options |
AxiTrader alternatives
FXCM
FXCM, or Forex Capital Market, is a UK-based broker offering forex and CFDs. FXCM was established in 1999 and its main shareholder is the Jefferies Financial Group. Jefferies Group is listed on the New York Stock Exchange and it has an investment banking background.
FXCM is considered safe as it has a long track-record and it is regulated by top-tier financial authorities like the UK FCA and the Australian ASIC.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.05% 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
| Pros | Cons |
|---|---|
| • Fast and straightforward account opening | • Limited product portfolio |
| • Good technical research tools | • Poor mobile platform |
| • High quality educational content | • Poor website trading platform |
Fees
FXCM has low trading fees and average non-trading fees. There are no account, deposit, or withdrawal fees. However, you have to pay a $50 fee after one year of inactivity.
| Pros | Cons |
|---|---|
| • Low trading fees | • High AUDUSD trading fee |
| • No withdrawal fee |
| FXCM | AxiTrader | |
|---|---|---|
| EURUSD benchmark fee | $16.5 | $13.8 |
| EURGBP benchmark fee | $12.2 | $11.0 |
Includes spreads, commissions, and financing rate for opening a $20k position, holding for a week, and closing.
Account opening
The account opening process at FXCM is hassle-free, and there is no minimum balance requirement. The minimum deposit is $360 (£300) in Europe, while $50 in non-EU countries. On the other hand, the account opening time is slower than usual.
| Pros | Cons |
|---|---|
| • Fully digital | • Account opening time slower than at most forex brokers |
| • Low minimum deposit | |
| • User-friendly |
| FXCM | AxiTrader | |
|---|---|---|
| Minimum deposit | $360 | $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.
Deposit and withdrawal
There are several options both for deposit and withdrawal but the withdrawal time is slow.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Slow withdrawal - over 3 days |
| • Free withdrawal | |
| • No deposit fee |
| FXCM | AxiTrader | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | Yes | No |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $0 |
Web trading platform
FXCM's trading platform is extremely customizable and you can use lots of order types. On the other hand, it's not user-friendly and it has a poor search function.
| Pros | Cons |
|---|---|
| • Clear fee report | • Not user-friendly |
| • Good customizability (for charts, workspace) | • No two-step (safer) login |
| • Good variety of order types | • Poor search function |
| FXCM | AxiTrader | |
|---|---|---|
| Web platform score | 2.5 stars | 2.6 stars |
| Mobile platform score | 1.0 stars | 3.8 stars |
| Desktop platform score | 3.0 stars | 3.3 stars |
Learn more about FXCM's web trading platform in the detailed FXCM review.
Markets and products
At FXCM you only have access to forex and CFDs. Cryptos are provided through CFDs.
| 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 |
Verdict
FXCM has low trading fees, its technical research tools are of high quality and well organized, and the account opening is fast and straightforward.
However, FXCM only offers forex, CFDs and crypto CFDs. Their mobile and desktop trading platforms need an update, as they are 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 broker offering forex and CFD trading. It is regulated by the FCA and Australia's ASIC. |
| Fees score | 3.8 stars |
| Recommended for | Forex traders looking for easy account opening, funding, and withdrawal |
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.
| Broker | Info | Recommended for |
|---|---|---|
| AxiTrader | Australian forex broker | Forex traders familiar with the MetaTrader 4 platform |
| Pepperstone | Australian forex broker | Forex traders looking for low fees and good customer service |
| IC Markets | Australian forex broker | Forex traders who value easy account opening and free deposit/withdrawal options |
| FXCM | UK-based forex broker | Forex traders looking for easy account opening, funding, and withdrawal |
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