FXTM vs AxiTrader Compared for 2024

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Forex traders always look for trading with brokers that suit their trading needs and preferences. FXTM and Hankotrade are online forex brokers that offer their trading services to traders and investors. FXTM is a highly regulated and trusted forex broker. It is regulated in one tier-1 jurisdictions, one tier-2 jurisdictions, and two tier-4 jurisdictions. On the other hand, Hankotrade is an offshore forex broker which is not regulated by any regulatory bodies. 

In this article, we will review and compare the brokerage services offered by FXTM and Hankotrade. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

FXTM vs AxiTrader: In a Nutshell

FXTM

ForexTime (FXTM) was founded in 2011. The broker facilitates the trading of over 1,000 forex, CFDs and real US stocks on its MT4, MT5 and the FXTM trader platforms. FXTM states that it has over 1 million clients from over 150 countries and has won over 45 industry awards for excellent services.

Risk warning: 81% of retail investor accounts lose money

FXTM Overview
  • Founded In: 2011
  • Minimum Deposit: $10
  • Maximum Leverage: 1:2000
  • Regulations: FSC (Mauritius)
  • Trading platform:MT4, MT5 and Mobile Trading
  • Account Types: Micro, Advantage, Advantage Plus
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money
  • US Traders: Not Accept

AxiTrader

Founded in Sydney, Australia in 2007 by traders, Axi has grown into a global brand with 60,000 clients from over 100 countries. More than 220 forex and CFDs can be traded on its MT4 platform. The Axi Trading platform will soon be available for real trading. Tools like Autochartist and MT4 NextGen are provided while the Axi Copy Trading app is for social trading.

AxiTrader At a Glance

AxiTrader At a Glance
  • Founded In: 2007
  • Trading Instruments: 220+ trading instruments including forex, cryptocurrencies, shares, commodities, indices. 
  • Minimum Deposit: $0 for standard and pro accounts, 25,000 for Elite account. 
  • Maximum Leverage: upto 1:500
  • Regulations: ASIC, FCA,  SVG, FSA, DFSA,
  • Trading Fees: spread starting from 0.9 pips for standard account, $7 per lot for pro account, $3.5 per lot for Elite account
  • Trading platform: MT4, MT4 Webtrader, Axi trading platforms, Copy Trading Apps. 
  • Account Types:  Standard, Pro Account, and Elite Account
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, GlobalCollect, JCB, Maestro, Neteller, Ngan Luong, Payment Asia, Poli, Skrill, UnionPay
  • Funding Currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD
  • US Clients : Not Accepted

FXTM vs AxiTrader: Pros and Cons

FXTM Pros & Cons

Pros
  • FXTM is regulated, and licensed by top-tier regulators (FCA (UK), CySEC, FSC, FSCA) 
  • Minimum deposit is $10
  • The Maximum leverage is as high as 1:2000
  • Ultra-low spreads starting from as low as 0 pips 
  • Offers Copy Trading & MAM Accounts
  • A wide range of trading instruments 
  • Negative balance protection for EU Clients 
  • Over 30 Payment Methods 
Cons
  • Inactivity and withdrawal fees
  • Does not support Myfxbook or ZuluTrader options for social trading
  • No futures or options trading
  • No negative balance protection for Non-EU Clients 
  • Most withdrawal options have a fee
  • Large spread on standard Account 

AxiTrader Pros & Cons

Pros
  • A global broker since 2007.
  • Regulated by FCA, ASIC, DFSA, and FMA.
  • Serves over 60,000 customers in 100+ countries.
  • No deposit and withdrawal fees.
  • The minimum deposit is as low as $1.
  • Allows scalping, EA trading, and news trading.
  • Offers passive investment programs like MAM, PAMM, and Zulutrade.
  • Maximum leverage is as high as 400:1.
  • Offers a wide range of trading instruments including forex, metals, indices, commodities, and cryptocurrencies.
  • Spread betting is available for the UK market.
  • Spreads are low and start from 0 pips.
  • Easy and digital account opening process.
  • AutoChartist, MetaTrader 4 NextGen, and PsyQuation are offered.
  • Signal providers and free VPS are offered (conditions apply)
Cons
  • Not regulated by CySEC, a leading regulator for EU countries.
  • The demo account expires after 30 days.
  • The broker does not offer more advanced platforms like MT5 and cTrader; only MT4 is available.
  • The commission is $7 for the pro account, which is a bit high compared to competitors.
  • Only forex and CFDs are offered; no real tradable assets are available

FXTM vs AxiTrader: Side-by-Side Comparison

FXTM
AxiTrader
Product
Founded In
Founded In
2011
2007
Founded By
Founded By
Andre Dashin
Rajesh Yohannan
Headquarters
Headquarters
Limassol, Cyprus
Sydney, Australia
Regulations
Regulations
FSC (Mauritius), CySEC, FSCA, FSP, FCA
ASIC, FCA, SVG, FSA, DFSA
Min Deposit
Min Deposit
$10
$0 for standard and pro accounts, 25,000 for Elite account.
Max Leverage
Max Leverage
2000:1
500:1
Tradable Assets
Tradable Assets
Currencies, Stocks, Indices and Commodities
220+ trading instruments including forex, cryptocurrencies, shares, commodities, indices.
Fees
Fees
Spread from 0.0 pips , 0.4¢ - $2 COMMISSIONS ON FX AND CFDS
Spread from 0.9 pips (standard),Pro 0 pips, Elite 0 pips.
Platforms and Tools
Platforms and Tools
MT4, MT5 and Mobile Trading
MT4, MT4 Webtrader, Axi trading platforms, Copy Trading Apps.
US Traders
US Traders
Not Allowed
Not Allowed

FXTM Vs AxiTrader: Our Scores and Ratings

We rated both brokers, FXTM and AxiTrader, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

FXTM :

8.6
Total Score
Regulation and Security (40%)9.4
Fees and Commissions (20%)8
Trading (15%)7.8
Trading tools (10%)7
Customer Support (10%)9
Trading Education (5%)9

AxiTrader

8.7

Total Score
Regulation and Security (40%)9.2

Fees and Commissions (20%)9

Trading (15%)7.5

Trading tools (10%)7.4

Customer Support (10%)9.4

Trading Education (5%)9

Final Verdict :

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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