AximTrade Malaysia Review 2024 - TU expert opinion
Is the Forex market legit in Malaysia?
Forex trading is legal in Malaysia. Anybody can be a trader. However, there are certain rules in the country that everybody has to follow. Traders in Malaysia can trade only with brokers that are regulated by the local authority. Bank NEGARA is the country’s financial regulator. The bank is responsible for issuing licenses and overseeing that companies fulfill their obligations to traders.
Malaysia is mostly a Muslim country. Therefore, availability of an Islamic account is one of the important requirements to brokers operating in this country. It is a swap-free account that complies with the Sharia Law. In this jurisdiction, traders can freely work with various trading instruments, including currency pairs, precious metals, energies. CFD trading is not allowed.
How to Trade Forex in Malaysia
In order to start trading in the Forex market in Malaysia, you need to register with a broker. The registration form differs depending on the broker. Verification is mandatory for traders from Malaysia – proof of identity and proof of address. After that you need to fund your account. Licensed brokers in Malaysia must accept the ringgit, the local currency. After that, traders can start trading.
Our Evaluation of AximTrade
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
AximTrade is a reliable broker with the TU Overall Score of 7.63 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by AximTrade clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.
AximTrade offers its clients one of the most competitive trading conditions in the market including tight spreads, low balance requirements, variety of account types, fast execution, reliable customer service and a wide variety of payment solutions. Serving over 100,000 active clients from all around the world, AximTrade stands out for providing premium services with flexible leverage, 100+ trading instruments, 0.004s execution speed, and up to 100% bonus.
Detailed Review of AximTrade in Malaysia
AximTrade is a good choice for traders from Malaysia. 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 Malaysia
Traders Union analysts conducted a detailed analysis of AximTrade for traders from Malaysia. 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 Malaysia
Traders Union analysts analyzed the key features of AximTrade for traders from Malaysia. 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 Malaysia
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 Malaysia. 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 Malaysia. 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.
FAQs
Is AximTrade legal in Malaysia?
Yes. AximTrade operates legally in Malaysia. The broker holds the necessary licenses.
Can you learn trading with AximTrade? Does the broker offer courses for traders from Malaysia?
Yes, AximTrade offers good trading courses and a lot of educational information for clients from Malaysia.
Can AximTrade be trusted? Has the broker been operating in Malaysia long?
AximTrade has been operating in Malaysia quite long and has a good reputation. Therefore, traders can work with AximTrade.
Is AximTrade suitable for novice traders from Malaysia?
Yes. AximTrade offers optimal trading conditions and good education for beginners from Malaysia.
How efficient is AximTrade customer support in Malaysia?
AximTrade offers a sufficient number of ways to contact customer support in Malaysia, and also provides support in the state language.
Has AximTrade had any incidents involving theft of funds of clients from Malaysia?
No. AximTrade provides reliable security of funds of clients from Malaysia.
Will I be able to file a lawsuit in Malaysia if AximTrade violates my rights?
Yes. If AximTrade violates your rights, you can file a complaint with the regulator of Malaysia, and then with a court.
Can AximTrade clients from Malaysia use the broker’s mobile app?
Yes. The mobile app of AximTrade is available for the clients from Malaysia.
Does AximTrade provide Malaysia market analysis?
Analysis of Malaysia is featured in the information provided by AximTrade.
How can I withdraw funds from my account at AximTrade in Malaysia?
AximTrade supports bank transfers and debit/credit cards of the banks operating in Malaysia.
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.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.