My Preferred Forex Broker and Why
One of the biggest challenges we are faced with as Forex traders is finding a suitable broker to trust our money with.
Like you, I read and hear of horror stories all the time about people losing money through their broker’s unethical actions.
Your broker trading against you, closing out trades early, widening spreads, slippage, difficulty of withdrawing funds, preventing you from
trading when you start to make good returns – whatever it is, I’m sure you’ve heard a story or two like this.
As a well respected Forex trader and coach I am inundated on a daily basis by brokers desperate for me to promote them and my answer
is always the same – NO.
However I have been trading live with AxiTrader now for several months and I have nothing but positive comments to say about them.
Their MT4 platform is very stable, their spreads are very competitive throughout the entire day and their customer service is excellent. They start their trading day at 5pm EST (New York Time) – which is essential for having the correct charts for trading Daily and H4 time frames.
However in my opinion, the most important aspect is the safety of mine and your trading funds.
AxiTrader are ASIC regulated and your funds are held in segregated accounts.
If you are in the US, don’t worry as you can still trade through AxiTrader USA by clicking here
AxiTrader are offering a bonus of $200 on all new trading accounts over $1,000 if you mention my name upon opening a live account.
You can also use this link to get started now.
As always, if there is anything I can help you with regarding your trading, don’t hesitate to get in contact with me by email.
My trading calculator is available on my website by clicking here
My weekly trading videos and iTunes Podcasts can be viewed here
My webinars for beginners can be found here and for experienced traders here.
Have a great day.
Regards,
Andrew Mitchem
Owner, Trader and Coach at The Forex Trading Coach
Hi Andrew – being in the forex back office software business, we come across lots of stories where experiences were had! So working with a reputable company is essential for an added layer of security. Good read, thank you!
Hi Andrew – being in the forex back office software business, we come across lots of stories where similar experiences were had! So working with a reputable company is essential for an added layer of security. Good read, thank you!
Hi,
Thanks for your feedback.
Regards
Andrew
Andrew, have you tried LMAX? Not a market maker, institutional spreads, deep liquidity, blazing fast execution, DOM, FIX for those charting apps that support the protocol, and daily reports automatically emailed showing all trades with all relevant details. I could go on but suffice it to say, like so many retail traders I went down the road to broker hell and of all the ‘MT4’ brokers I’ve tried before, no one comes even close to LMAX. If trading spot FX only, then RJO’Brien (UK) also comes to mind (they use Integral).
Hi Triantus,
Thank you for your reply. I’ve not used either of those brokers but thanks for the references.
Regards
Andrew
Selection of a good broker is a “make or break” decision after you learn and control other aspects of forex trading. You can’t win if you have the wrong broker, nearly impossible. I will try a demo account with AxiTrader if they allow US clients.
Hi Michael,
Yes they do accept US clients through their US company.
Regards
Andrew
Hi Andrew, great read, thanks. Are you an IB? I am interested in using Axitrader or IC Markets in Australia as they both have great reviews. Will probably go with Axi seeing that I can get the added bonus of $200. Do they offer lower commissions/rebates if one signs up through a IB? Thanks
Hi Jac,
Thank you for your reply.
I don’t have any rebates to send you for using Axi.Trader They try to have the tightest spreads the entire time. The safety of funds, reliability of trading and initial $200 bonus would outweigh a small rebate.
I use the MT4 platform as my custom software is built for it.
Regards
Andrew Mitchem
Hi Andrew, I am from Canada, what effect will this broker have on my account or is there a Canadian branch. Thanks. I also noticed you said you used that you have been using this broker for just several months-could you mention the broker that you have used over last several years. Thanks Lyonel
Hi Lyonel,
You can open an account and trade it in CAD$ with Axi Trader. Living in Canada would not make any difference to your ability to trade through them. I also use Pepperstone and Go Markets for my trading. I find that AxiTrader have the better spreads throughout the entire day and their customer support has been excellent.
I hope this helps,
Regards
Andrew Mitchem
http://www.TheForexTradingCoach.com
Axitrader USA is not taking USA trades, as of today, 4/15/14. Not sure what happened, but they are refunding live accounts, and have stopped all trades.
Hi, ATC brokers are who many of my US clients are moving to.
Regards
Andrew Mitchem
Are they NY close? What happened to axitrader? I really liked them. They were fair.