Australian AxiTrader Launches US Forex Offering

0 Comments

axitrader logoLast year we reported that leading Australian forex broker AxiTrader was entering the US market as an introducing broker and partnered with ILQ. AxiTrader has today announced the launch of its US website www.axitraderusa.com. As a B2B broker, ILQ provides global brokers the ability to enter the US market with a branded cheaper solution as an IB rather than becoming an FCM which requires a minimum of $20 million in capital. In addition to AxiTrader, social broker eToro has also transferred their US business from FX Solutions to ILQ. AxiTrader’s US division is headquartered in Chicago and is being led by Brian King.

Although retail forex trading in the US has been contracting in terms of brokers and the amount of traders, the country continues to attract interest from global firms. The attraction is based on two main premises. Firstly, according to US regulations, foreign brokers are unable to take on US customers. As such, entering the market through an IB or Joint Venture provides an opportunity to convert organic US leads. Secondly, as the world’s largest economy, there are long term potentials in being present in the US. This was seen as Japanese financial firm Monex targeted the US in their acquisition of IBFX and TradeStation in their goal of creating a long term diversification.

Australian based AxiTrader launches its margin Forex offering in key US market

February 07, 2013 – AxiCorp Financial Services Pty Ltd, Australia’s largest independent provider of foreign exchange products, today announced the launch of its AxiTrader USA forex service in the US market, which is currently dominated by a small number of providers.

AxiTrader USA (a DBA of AxiCorp USA, LLC), through a partnership with Institutional Liquidity (ILQ), will offer US citizens state-of-the-art access to its margin forex services through its US website, www.axitraderusa.com . US clients will have access to 24-hour trading through the MetaTrader4 platform, with our goal to provide tight spreads, excellent service, fast execution and reliability.

AxiTrader, with more than 18,000 accounts, is the margin forex market leader in Australia, which is one of the world’s fastest growing and most sophisticated forex markets. Quinn Perrott, AxiTrader’s General Manager said, “While several other retail FX brokers are downsizing or laying off staff, AxiTrader seems to be one of the few to be enjoying sustained growth.”

The AxiTrader USA partnership with ILQ, one of the fastest growing forex brokers in the US, opens the door for US citizens to access the benefits of AxiTrader, where they have previously been restricted from opening trading accounts with overseas firms.

Brian King, who has been servicing the needs of US currency traders for nearly 20 years, will lead the AxiTrader USA operation from its base in Chicago.

Mr. King said: “AxiTrader USA believes that US traders are entitled to a better deal than they’ve been getting. For too long now, traders have had to choose between a handful of large and dominant players who have not kept pace with traders’ increasingly sophisticated demands for a state-of-the-art service at competitive prices. We wouldn’t be happy trading with them, so why should US clients have to?”

Goran Drapac, Chief Executive Officer of AxiCorp Financial Services and a pioneer in Australian margin forex trading, said: “We are very pleased to be able to offer US traders the same level of service that many of Australia’s most successful traders have become used to. AxiCorp has achieved substantial success in the Australian market through our dedicated trading platform and highly competitive pricing. We built AxiTrader to be the forex broker that we would prefer to trade with.”

AxiTrader USA expects to be one of the top 4 local retail margin FX firms, by volume within 2 years.

About AxiTrader

AxiTrader, headquartered in Sydney, is the largest independent Australian-owned and founded forex trading firm. AxiTrader currently services more than 18,000 accounts, with a combined trading volume of about $60 billion a month. The firm’s servers are located in several continents, facilitating trading services to AxiTrader clients worldwide.
AxiTrader’s key advantages include:

• 24-hour Internet trading. Access 24-hour, 2-way streaming interbank pricing on FX, spot gold, silver, oil, and indices. AxiTrader’s state of the art trading platform is a free and easy to use click and deal trading platform. Full telephone support available.
• 1.4 pips average spreads on major currencies. Trade transparent, competitive two-way streaming prices. Enjoy AxiTrader’s integrity on pricing with the most competitive spreads and consistent liquidity on the widest range of currency pairs.
• Flexible trading sizes.
• It is simple to open and fund your trading account. AxiTrader aims to make it as seamless as possible to trade.
• Risk management in real-time. Manage your account professionally. Know your total account value, open position, and p/l in real-time.
• Personalised Customer Service. Deal over the internet or by phone. AxiTrader’s experienced and knowledgeable staff are available to answer any questions and provide assistance. Prompt attention is given to administrative or technical support queries.

About AxiCorp Financial Services Pty Ltd
AxiCorp Financial Services Pty Ltd was established in 2008 to acquire and operate a foreign exchange business. It subsequently expanded its operations to include the issuing of margin foreign exchange product to Australian and international clients.
AxiCorp is owned and supported by experienced and capable staff and investors which have provided the experience and capital to expand and support its operations.
AxiCorp is the holder of an Australian Financial Services Licence No 318232, which authorises it to provide the following services to retail and wholesale clients:
• provide financial product advice;
• deal and make a market in foreign exchange contracts; and
• deal and make a market in derivatives.







 
More information on this subject is found in the latest Forex Magnates Quarterly Report


Comments are closed.

We do not store your information and we do not disclose our sources.


Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed):



Digital Currencies

Executive Moves

Startups & New products

antony

“Meet The Experts” Announces Its Newest Contributor And Bitcoin Specialist, Antony Lewis

Forex Magnates’ “Meet the Experts” platform is pleased to announce its newest contributing expert, Antony Lewis, head of Business Development at Bitcoin exchange itBit, specializing...

Coinomat Launch Digital Currency Withdrawal Service to Visa & Mastercard

Cryptocurrency exchange service Coinomat are now supporting crypto coin withdrawals, allowing customers to transfer them to their Visa or Mastercard debit cards. Launched back in November...

NMC/USD Technical Analysis – 18th April 2014

Namecoin experiences massive gains from the 13th through till the 15th, more than doubling in value in barely a couple of days, but a powerful...

More Digital Currencies

Lloyds’ Global Head Of Spot Forex, Darren Coote Resigns

Darren Coote, the Global Head of Spot Foreign Exchange at Lloyds Banking Group Plc. has resigned from his position for personal reasons, leaving a notable...

Max Hayden

BCS Appoints Ex-BofA Merrill Lynch MD Max Hayden as Head of Business Development

The latest person to head BCS Financial Group's new business development efforts brings a nearly 30 year career holding senior roles in financial services including...

tomgav

Pete Sinisgalli Appointed New CEO at Eze Software Group, Succeeding Tom Gavin

Eze Software Group, a global provider of investment technology across all asset-classes, has announced the appointment of Pete Sinisgalli as its new CEO, succeeding Tom...

More Executive Moves

New Product Spotlight

OANDA Launches Retail FX Tools Marketplace, Forex Magnates Reviews

OANDA opens a Marketplace featuring apps, training, and MT4 plugins developed by the broker and its partners to provide its clients with vetted tools and services. Forex Magnates reviewed the new offering.
Read more

BT Prime Extends Emerging Markets Push, Adds Thai Baht Liquidity

EM offerings are taking the stage this year, as after increased offerings of Chinese Yuan trading, we are now getting an announcement that one of the leading FX liquidity providers adds the Thai Baht.
Read more

More Startups & New Products

Forex Research

Recent Comments

Note: Copyright © 2014 Forex Magnates. All rights reserved.

All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Forex Magnates. You may not alter or remove any trademark, copyright or other notice from copies of the content. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at Forex Magnates are those of the individual authors and do not necessarily represent the opinion of Forex Magnates or its management. Forex Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by Forex Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Forex Magnates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2014 "Forex Magnates Inc. - Home of the Forex Elite" All Rights Reserved.