image FXPro VISIT FXPRO image Axitrader VISIT AXITRADER image City Index VISIT CITY INDEX
About

FXPro is regulated by the Financial Conduct Authority, CySEC, FSB, DFSA and SCB. FXPro have provided Forex and spread betting services since 2006.

Axitrader is regulated by the Financial Conduct Authority. Axitrader have provided Forex trading services since 2007.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 12 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 11 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters London, UK Sydney, Australia London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No Yes Yes
CFD No Yes Yes
Spread Betting Yes No Yes
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 75 80 84
Commodities Offered 17 0 26
Stocks Offered 156 0 4500
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks Yes No Yes
Penny stocks No No Yes
Energies Yes No Yes
Metals Yes No Yes
Agriculturals Yes No Yes
FTSE Yes No Yes
Dow Jones No No Yes
Dax Yes No Yes
Nikkei No No Yes
ETFs No No Yes
IPO No No No
See all instruments

79% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

79% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

79% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 Yes No No
MT4 Mac Yes Yes No
WebTrader No Yes Yes
Mirror Trader No No No
ZuluTrade No Yes No
Sirix No No No
cTrader Yes No No
PAMM No No Yes
Custom Platforms No No AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No Yes
Available Languages

Arabic, Chinese, English, French, German, Hungarian, Romanian, Turkish, Czech, Slovak, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, and Vietnamese

English, Chinese, Spanish, German, Japanese, Russian, Romanian, and Arabic

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

79% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

74% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by FXPro and Axitrader

Demo account No Yes Yes
Mini account Yes Yes Yes
Micro account Yes Yes Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account Yes Yes No
Zero spread account No No No
VIP account Yes Yes Yes
Fixed spreads Yes No Yes
Variable spreads Yes Yes Yes
See account options

79% of retail investor accounts lose money when trading CFDs with this provider

See account options

74% of retail investor accounts lose money when trading CFDs with this provider.

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access No Yes No
STP broker No Yes Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 1 Lot
Max trade Varies 50 Lot Varies
Min deposit $1 $200 $25

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No No
Neteller Yes Yes No
Skrill No No No
Payment processing time 3-5 business days Varies 2-3 business days
Withdrawal processing time 1 business day Varies 2-3 business days
See all funding options

79% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

74% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US, JP US, JP US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
Phone number 44 (0) 203 151 5550 44 207 096 7488 0845 355 0801
Live Chat Yes No Yes
Website http://www.fxpro.co.uk/ www.axitrader.com www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 0.6 pips 1.24 pips + $14.00 0.5 pips
GBP/USD (Average: 1.1 pips) 0.9 pips 1.73 pips + $14.00 0.5 pips
USD/JPY (Average: 1.1 pips) 0.6 pips 1.42 pips + $14.00 1.6 pips
AUD/USD (Average: 0.8 pips) 1.0 pips 1.32 pips + $14.00 0.5 pips
USD/CHF (Average: 2.3 pips) 1.6 pips 1.66 pips + $14.00 1.6 pips
USD/CAD (Average: 2.9 pips) 1.0 pips 1.73 pips + $14.00 0.5 pips
NZD/USD (Average: 3.6 pips) 1.3 pips 1.5 pips + $14.00 2.3 pips
EUR/GBP (Average: 2.4 pips) 0.7 pips 1.61 pips + $14.00 0.5 pips
View all spreads

79% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

74% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No No Yes
Commission No Yes 0.0015
Deposit Fee Yes Varies Varies
Withdrawal Fee No Varies Varies
View All Fees

79% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

74% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from http://www.fxpro.co.uk/. Last updated on 01/07/2019.

All information collected from www.axitrader.com. Last updated on 01/07/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/07/2019.

Company

FXPro was founded in 2006 and offers CFDs on currency pairs and five other asset classes. They serve customers in over 150 countries and offer a wide range of instruments and platforms including both MT4 and MT5.

For more information about trading with FXPro, we have put together an indepth FXPro review with some of the pros and cons about this broker.

Axitrader is an online forex trading sevice provider who are regulated by the Financial Conduct Authority and ASIC. To open an account with Axitrader, minimum deposits start from $200.

With Axitrader you can trade 61 FX pairs, metals, and CFDs. If you like to trade on the go, Axitrader have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Axitrader offer MT4 for PC, MT4 for Mac, MT4 for Mobile, MT4 NexGen, MT4 Trading Signals, AxiTrader's Multi Account Manager platforms to make your trades and support 6 different languages.

They also offer a free demo account for traders who want to refine their trading skills.

The spreads offered by Axitrader for the most popular instruments are:
0.6 EUR/USD, 0.5 FTSE 100, 0.5 GOLD,
1 GBP/USD, 1 DOW/JONES, 0.5 Crude Oil,
see all the spreads here.



For more information about trading with Axitrader, we have put together an indepth Axitrader review with all the pros and cons about this broker.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

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FXPro or Axitrader?

A wide range of instruments or ECN execution?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, FXPro is likely the better option out of these brokers. However, if you want a broker with ECN execution, Axitrader may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider FXPro to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

FXPro is regulated by Financial Conduct Authority, CySEC, FSB, DFSA and SCB, while Axitrader is regulated by Financial Conduct Authority and ASIC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both FXPro and Axitrader will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

FXPro has been around for 13 years, while Axitrader have been around for 12 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both FXPro and Axitrader use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on FXPro or Axitrader in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both FXPro and Axitrader are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

FXPro are based in London, UK, while Axitrader are based in Sydney, Australia .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both FXPro and Axitrader offer forex trading. Axitrader have a slightly larger variety of currency pairs with 80 pairs, compared to 75 offered by FXPro. Also, if you’re looking to trade cryptocurrencies, FXPro offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both FXPro and Axitrader allow you to trade commodities like gold, silver and crude oil.

Axitrader also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both FXPro and Axitrader offer this. FXPro also offer the new & improved MT5 platform. Our alternative broker, City Index, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. FXPro, for example, offer a mini account, standard account and VIP account.

For Muslim traders, FXPro offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

FXPro does allow scalping and hedging. While Axitrader also allows scalping and hedging. You can trade with EAs (expert advisors) on both FXPro and Axitrader.

In terms of risk management tools, FXPro does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but Axitrader doesn't offer this.

FXPro also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

FXPro accept Paypal while Axitrader accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, FXPro charges 0.00 points, while Axitrader charges 0.10 points. Therefore, FXPro is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: FXPro or Axitrader?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FXPro is more reliable based on our criteria above. FXPro has a wider range of instruments to trade. Axitrader offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Most brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.