AximTrade Bangladesh Review 2024 - TU expert opinion
Is the Forex market legit in Bangladesh?
Forex trading in Bangladesh is legal, but there are certain restrictions. Only the residents of the country can register with the local brokers. Bangladesh Bank is the financial regulator. The bank issues licenses, supervises the operation of Forex brokers and also settles disputes between clients and brokers.
Bangladesh is a Muslim country, and the brokers that are registered there officially provide an Islamic account. It is a special account that complies with the Sharia Law. Clients can use only accounts opened in the national currency for trading.
How to Trade Forex in Bangladesh
In order to start trading in the Forex market in Bangladesh, you need to register with a broker. Verification is mandatory; you will need to confirm that you are a citizen of Bangladesh or have a residence permit. You will also need to provide proof of address.
Detailed Review of AximTrade in Bangladesh
AximTrade is a good choice for traders from Bangladesh. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
AximTrade strives to make the trading of its clients as comfortable and profitable as possible. The broker adheres to the policy of prohibiting repeated quotes and refusal of requotes. It also promises 100% execution of orders in less than 1 second. AximTrade provides 24/7 support, the best prices from major liquidity providers, and a proprietary trading platform. The company aims to expand its service areas and soon plans to open 7 foreign offices, including in South Africa, India, and Turkey.
AximTrade by the numbers:
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More than 300 thousand clients.
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More than 1 million open trading accounts.
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More than 400 billion of traded volume.
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11 local offices in Europe and Asia.
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8 regional offices.
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The website and the personal account are available in 15 languages.
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The amount of affiliate payments exceeds USD 5 million.
Advantages of AximTrade for trading in Bangladesh
Traders Union analysts conducted a detailed analysis of AximTrade for traders from Bangladesh. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
Storing funds in segregated accounts and using two-factor authentication to protect data.
You can trade not only from the MT4 desktop terminal but also in the mobile application.
Cent, Standard, ECN, and INFINITE accounts are available.
Each client can open up to 15 trading accounts of various types.
All account types have negative balance protection.
The company periodically offers promotions, including a deposit bonus.
Private traders can receive affiliate rewards for attracting new clients.
Registration on the company's website takes no more than 10 minutes. Account opening and verification are completely digital procedures, no office visit is required.
Analysis of the Main Features of AximTrade in Bangladesh
Traders Union analysts analyzed the key features of AximTrade for traders from Bangladesh. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for AximTrade traders from Bangladesh
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of AximTrade trading conditions for traders from Bangladesh. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
| 💻 Trading platform: |
МТ4 (desktop, mobile)
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|---|---|
| 📊 Accounts: |
Standard, Cent, ECN, Infinite
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| 💰 Account currency: |
USD, EUR
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| 💵 Replenishment / Withdrawal: |
Bank transfer, Neteller, Skrill, FasaPay, MomoPay, Zalopay, UPI, Paytm, Net Banking, QuickTransfer, QR Code, USDT (ERC20), WeChat Pay, AliPay, China Union Pay, local depositor. Available soon: Credit Cards (Mastercard, Visa), and BitCoin
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| 🚀 Minimum deposit: |
From $1 (cent, standard), From $50 (ECN)
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| ⚖️ Leverage: |
ECN — Up to 1:1000, cent — Up to 1:2000, standard — Up to 1:3000, Infinite - Up to 1:Infinite
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| 💼 PAMM-accounts: |
No
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| 📈️ Min Order: |
0.01
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| 💱 Spread: |
From 1 pip (cent, standard), from 0.0 pips (ECN), 3 pips (infinite account)
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| 🔧 Instruments: |
Currency pairs, CFDs on indices, metals, energies, cryptocurrencies, stocks
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| 💹 Margin Call / Stop Out: |
60%, 30%
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| 🏛 Liquidity provider: |
No data
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| 📱 Mobile trading: |
Yes
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| ➕ Affiliate program: |
Yes
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| 📋 Orders execution: |
Market orders, stop-loss orders, limit orders
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| ⭐ Trading features: |
Hedging is allowed; Stock CFD trading available; Leverage reduced during news releases.
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| 🎁 Contests and bonuses: |
Yes
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AximTrade Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by AximTrade for traders from Bangladesh. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
The AximTrade broker does not withhold commissions for deposits and withdrawals, however, some payment systems apply them. Skrill and Neteller charge 4% of the transfer amount for withdrawing money. Account maintenance is also free. As a trading commission, AximTrade maintains a floating spread: from 1 pip on cent and standard accounts; and from 0.0 pips on ECN accounts. Also on ECN accounts, there is an additional commission for each lot for USD 3 (for opening and closing a position).
| Account type | Spread (minimum value) | Withdrawal commission |
| Cent | From 0.01 pip | No |
| Standard | From 1 pip | No |
| ECN | From 0.0 pip | No |
| INFINITE | As Low as 3 Pip | No |
There are swaps fees (commission for transferring a position to the next day).
Comparison of the average commission of different brokers allows you to determine the degree of optimality of the proposed conditions in comparison with competitors. Because of this, the analysts at the Traders Union have compared the fees for trading at AximTrade with the commissions of two popular companies — RoboForex and FXPro.
Expert Review of AximTrade
AximTrade has been operating independently since 2020, but its parent company has been operating since 2010. The young broker already has 4 international awards and serves over 300,000 traders from Asia and Europe. However, AximTrade does not cooperate with traders from the USA, Great Britain, Canada, and the countries of the European Union. The list of unsupported jurisdictions is in the footer of the official website.
Any client of the broker can have up to 15 active trading accounts: up to 7 standard, 5 ECN, 2 cent and 1 infinite accounts to trade. It should also be remembered that a trader registered here can simultaneously hold no more than 200 positions open, including pending orders. The average order execution speed is 0.004 of a second. AximTrade allows scalping on all types of accounts, but the minimum time for holding a position open cannot be less than 30 seconds.
The company has some disadvantages. AximTrade offers weekly insights, market analysis as well as educational articles. The broker launched a multi-level free online forex course to help traders from all levels sharpen their trading skills. AximTrade representatives cannot be contacted by phone and the support team only answers general questions about terms and services. The only way to get a detailed answer is to send a question to the company's email, but you will have to wait for the response from 1 to 3 business days.
FAQs
Is AximTrade legal in Bangladesh?
Yes. AximTrade operates legally in Bangladesh. The broker holds the necessary licenses.
Can you learn trading with AximTrade? Does the broker offer courses for traders from Bangladesh?
Yes, AximTrade offers good trading courses and a lot of educational information for clients from Bangladesh.
Can AximTrade be trusted? Has the broker been operating in Bangladesh long?
AximTrade has been operating in Bangladesh quite long and has a good reputation. Therefore, traders can work with AximTrade.
Is AximTrade suitable for novice traders from Bangladesh?
Yes. AximTrade offers optimal trading conditions and good education for beginners from Bangladesh.
How efficient is AximTrade customer support in Bangladesh?
AximTrade offers a sufficient number of ways to contact customer support in Bangladesh, and also provides support in the state language.
Has AximTrade had any incidents involving theft of funds of clients from Bangladesh?
No. AximTrade provides reliable security of funds of clients from Bangladesh.
Will I be able to file a lawsuit in Bangladesh if AximTrade violates my rights?
Yes. If AximTrade violates your rights, you can file a complaint with the regulator of Bangladesh, and then with a court.
Can AximTrade clients from Bangladesh use the broker’s mobile app?
Yes. The mobile app of AximTrade is available for the clients from Bangladesh.
Does AximTrade provide Bangladesh market analysis?
Analysis of Bangladesh is featured in the information provided by AximTrade.
How can I withdraw funds from my account at AximTrade in Bangladesh?
AximTrade supports bank transfers and debit/credit cards of the banks operating in Bangladesh.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!