AxiTrader is just one of the Australian forex brokers available online. To figure out if this is a broker for you a review and some helpful broker hints are below. Brokers can sometimes offer the same tools with different concepts or information. At other times you might see extremely different offerings on the table. It matters a great deal to your forex trading strategies to go with the broker that offers what you require rather than the bells and whistles that do not help.
Australian Forex Brokers: The Key to Comparison
Brokers can offer a lot of different tools and programmes, some of which require payment. Online courses, seminars, and mentors are all things that take a little extra funding. If you choose to go with a broker that offers these programmes it is best to find out if the courses actually have what you need rather than repeating everything you can read in a book. A mentor might be helpful to you since you can call them up without extra payment on a full service account. These are just some pointers for your Australian forex brokers search.
Another area to consider is the spread. The spread will differ from currency pair to currency pair, as well as between brokers. Looking at just one currency pair is not enough to tell you if all of the currency pairs are priced fairly. Many forex brokers have a varied rate rather than a fixed spread. It means certain pairs can be more expensive due to their lack of volume, liquidity, and trader interest.
Australian forex brokers’ reviews are only a beginning of what you should be studying about that company. For instance you want to examine how long a company has been in business. A company operating since 1988 is often more financially stable than a company started in 2009. You at least have a marker to start with in terms of a comparison. To help you better understand some of the comparison topics AxiTrader is reviewed based on regulatory agency, deposit, and EUR/USD spread.
Australian Forex Brokers at AxiTrader
AxiTrader is regulated by the ASIC, which is the Australian regulatory body. Any time you are going to use a broker it should be a company that operates fully in your country meaning the regulatory agency is in your country not a half a world away. When a regulatory agency is in another country you often have no legal standing should something come up. Reviews can help you stay clear of companies you cannot trust as well. These are just cautions and do not reflect on AxiTrader as Australian forex brokers. As stated, AxiTrader is regulated in Australia giving it a good mark to start with for a comparison.
AxiTrader requires $1,000 AUD to open an account. This is not the smallest amount other brokers have required, but it is not too large either. In fact $1,000 AUD or 1,000 in any currency is a good starting place. Lastly the pip spread on the EUR/USD is 1.4 pip spread which is quite reasonable.