|Spread Betting Platforms||MT4 for PC, MT4 for Mac, MT4 WebTrader, MT4 for Mobiles, MT4 NexGen, MT4 Forex Trading Signals, MT4 Multi Account Manager||Spread Betting Markets||80+|
|Spread on EUR/USD||0.7 pips|
|Banking Methods||Credit/Debit Card, Neteller, Skrill/Moneybookers, Local to International Bank Transfers, BPAY, China Union Pay, WeChat, Bank Wire|
|Demo Account||2 weeks with £50,000 virtual cash|
|Regulated||Financial Conduct Authority (UK), Australian Securities and Investments Commission|
|Customer Support||Email, Phone, Live Chat|
- Instant execution
- No minimum account size
- Regulated by the FCA
- Spread bet account is similar to a regular FX/CFD account
- Limited range of markets
- Demo account only valid for 30 days
AxiTrader is an Australian-based brokerage company that also has an office in the London. Aside from being a service provider for trading forex and CFDs, they also offer specialized accounts for spread betting which is a tax efficient way of trading on the financial markets in the UK.
Spread Betting Platforms [18/20]
Spread betting can be done on all of their MT4 platforms but in order to be able access this derivative product, you need to sign-up for a spread betting account. The industry standard MT4 platform is complete will all the advanced features that are essential for trading and can be accessed in a variety of ways. It can be installed on PC and Mac computers or if you prefer trading on your mobile, you can do so by installing the optimized apps for devices running on iOS and Android.
Market Coverage [10/15]
This brokerage currently has around 80+ instruments to spread bet on so the range of markets is somewhat limited. However, those that they have on their platforms are the ones that have the highest exposure or the most popular so basically you have a good selection of assets. If would be better though if they can expand their coverage in the future.
Minimum Deposit [10/10]
Since there is no minimum deposit, you can have any startup capital for investing. Simply register and fund your account with an amount that you wish to trade. Take note though that some payment methods have their own minimum deposit requirements which you need to follow. It is also worth noting that AxiTrader has waived the transaction fees.
Spread Betting Advantages [18/20]
It is important for you to be aware that their spread betting services are not the same as with other companies which you need to place per point bet on a certain instrument. In fact the account is basically just like a regular forex/CFD account and was only given such a different name for tax purposes. That means you will be able to trade just as how you would normally invest on CFDs. In general, we still find this to be an advantage since your profits will be free from taxes.
Customer Support [14/15]
For UK clients, they have a 24/5 local phone, email and live chat support. There’s also an option for you to request for a call back by accomplishing the online request form from their website. Overall, our experience with their support agents were very positive. All of our concerns were immediately addressed professionally.
AxiTrader is operated by AxiCorp Limited, a company that is locally regulated by the Financial Conduct Authority (FCA) and also by the Australian Securities and Investments Commission (ASIC). Their compliance with these trusted financial regulators is a good indication that they really mean business. Our thorough background check also revealed that they have a good number of positive reviews from traders particularly in the UK.
AxiTrader’s spread betting is basically similar to the standard forex and CFD trading and the only difference is the tax treatment. While this may be different to the traditional spread betting system, the fact that the profits are tax-free in the UK is already enough for you to consider what this brokerage has to offer.
Total Score: 88/100