How to Open an Account with AxiTrader

By TradingGator January 18, 2020 How To's 1 Comment

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Welcome to this guide on how to open an account with AxiTrader.

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Forex trading is a great source of passive income, but it is crucial to open a brokerage account with a trusted broker like AxiTrader for you to achieve success. AxiTrader is a broker company created by traders for traders and therefore has a good understanding of what traders need. With AxiTrader, you get access to some of the leading trading platforms in the world like Metatrader 4, where you can trade your indices, Commodities, and Forex.

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One advantage with AxiTrader is that there’s no minimum amount required to open an account. This makes it a good option if at all you want to start small in your investment journey and increase the investment as your trading expertise increases. To register, you will be required to submit a valid proof of identification like a passport and documents like utility bills to prove your address.

It is important to note that failure to provide accurate and correct details during account registration will force the company to decline your request to open an account.

Please note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.6% 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.

Table of Contents

Account Opening with AxiTrader: Step-by-step guide

It is important to understand that opening a trading account with this provider is simple, and it will only take a few minutes to complete. It will take a maximum of 24 hours for any account to be opened for trading after submitting identification documents.

Step 1: Fill the account application form

On the AxiTrader page, you will find a button that allows you to either open a real account or try a demo account. You can opt to start with a demo account if you want to learn before you start trading, but if you already know how to trade, click on the open live account button. You will be asked to provide personal details, including your name, email, and phone number. It is important to note that the AxiTrader platform is highly encrypted to protect all the information you provide to them.

Once you’ve filled in details in this step, an email will be sent to the provided address for you to set the password, and you can then proceed to the next level.

Step 2: Choose account

The second step is for you to choose the type of account to trade with, between the standard account and pro account. Once you’ve settled on the account type, you are also required to choose your base currency and desired leverage ratio.

Step 3: Identity confirmation

AxiTrader has to verify your identity before you can proceed with the account creation process. You have to confirm your name, date of birth, and residence address. To verify the personal details provided, you will be required to upload a copy of your passport and a utility bill to confirm the address given.

To better establish who you are for the account can be opened, you will also have to give your employment details such as company name, and your position in the company.

Step 4: Provide Financial status details

Your financial status is your secret, and AxiTrader understands so. That’s why you will not be asked to give exact values of your earnings or salaries but rather estimates in range. Nonetheless, it is important to note that it is a legal requirement for you to submit your income, investments, and any other financial information to the broker when opening an account.

You will be asked to give an average annual income, the main source of your funds, and what savings you may have.

Step 5: Confirmation of your trading experience

In this stage, you will have to answer some basic questions which will help in establishing your suitability for trading. The questions will mainly focus on your trading history. Here also, you will be given a chance to choose a brief description that explains your understanding of forex trading.

There are three levels;

Beginner- chose this if you’ve never traded before but have some basic understanding of Forex trading.

Intermediate- tick on this option if you’ve traded before, are familiar with the Forex markets, and trading platforms.

Advanced- choose this description if you are a regular trader with a high level of trading knowledge.

Step 6: Declaration

In this step, you will be allowed to review some contract documents before you confirm the application. These documents are; a client agreement, Financial Services Guide, Product Schedule, a Privacy Policy, and a Product Disclosure Statement.

You are also required to check that all the details provided are accurate and correct before you submit the application. After submission, you should expect a response within 24 hours, confirming whether or not your application has been accepted. If the application is approved, you will receive login details through the submitted email.

Step 7: Deposit funds

You can now login to your account and deposit funds to start trading. The platform allows several base currencies, including the Australian dollar and US dollar. If you don’t have the MT4, you can download it for your mobile, PC or Mac.

Account Types at AxiTrader

There are two major account types available with AxiTrader. They are;

MT4 Standard Account

Open Standard Account

No costs charged to open this type of account. It has a minimum spread of 1.0 pips, with a minimum trade size of 0.01 lots. There is no commission charged for the platform nor a minimum deposit amount. The trading features in this account have been optimized for automated trading. The leverage level in this account is up to 500:1. Finally, you get access to a 30-day subscription to a demo account.

MT4 Pro Account

Open Pro Account

There is no fee charged for opening this account. The minimum spread is 0.0 pips, with a minimum trade size of 0.01 lots. A commission of $7 is charged for the platform, but there’s no minimum deposit required. This account has similar trading features with the MT4 Standard account. You also get access to 30-day access to a demo account.

Advantages of using AxiTrader

Visit AxiTrader

Secure brokerage regulated by the Financial Services Authority of Saint Vincent and the Grenadines
Their pricing system is the best aggregate of leading liquidity providers
They have a dedicated customer support team
Access to mobile trading
You receive free forex training
Has the lowest spreads on different currency pairs, and indices
No account opening fees, or commission on the MT4 Standard account
Free access to the superior MT4 Trading platform
Pos tip: You will find useful tutorials and market outlook on AxiTrader’s YouTube channel

We hope you found this guide to opening a trading account with AxiTrader useful.

Safe trading!