Brokers Update – July 27: AxiTrader, Admiral Markets, FXPro

Brokers have continued to update their offerings by adding and removing features and instruments.

In our latest daily digest of news from across the retail forex space, we have a number of broker updates. AxiTrader gets a new look, while Admiral Markets have a couple of updates, announcing new commission fees and offering traders a so-called Market Heat Map. Meanwhile, FXPro announces new margin requirements.

AxiTrader Revamps Website

Having been under development for several months, Australian retail Forex broker, AxiTrader, has announced the launch of a new and improved website, which offers traders additional functionality and an enhanced user experience.

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With input from teams across the business, AxiTrader’s new portal now places axitrader-logothe most common functions, such as funding and withdrawals, in an Existing Client panel at the top of the page for quick and easy access. Users should also be able to easily navigate to useful sections, such as live spreads, FAQs and platform add-ons.

The online upgrade also seeks to organise and present information in an accessible manner, allowing new and potential users to quickly come up to speed with the broker’s offerings, products and terms of use.

Admiral Markets Cutting Commissions, and Providing New Market Heat Map

Online forex trading provider, Admiral Markers, today announced that it will cut commissions for trading currencies and spot metals on its ECN Admiral.Prime accounts, commencing August 10, 2015.

The broker currently allows traders with Admiral.Prime accounts direct access to live market prices, charging commissions on transactions. The reduction in commission fees is therefore advantageous for traders.

The new commissions for currency pairs and spot metals (Gold and Silver) will be:

  • currency pairs and spot gold – USD 3.0 per 1.0 lots;Admiral markets
  • spot silver – USD 0.3 per 1.0 lots.

Last week, the company also expanded its analytics offering, launching a new Market Heat Map to provide real-time data to traders.

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By drawing on real-time data form the ECN Admiral.Prime accounts, the Market Heat Map allows users to quickly identify and track volatile markets via the use of colour coding. By tracking market movement, traders are able to identify trading opportunities.

The map applies to all asset classes, including major forex currencies, stocks, commodities and indices.

The Market Heat Map comprises three main functions: an overview of top and bottom performers for the current day as well as for the last 24 hours and the previous day; a detailed range of FX analytics in chart form; and a list of all instruments in tabular form with market highs, lows and change in percentage.

New Margin Requirements at FxPro for Energy Futures

FXPro, the forex, futures and CFD brokerage, has informed clients of changes that have been made to its futures and shares contracts, outlining new required margins for US Oil, UK Oil and Natural Gas.

The required margin for energy futures (US Oil, UK Oil and Natural Gas) is now 0.5%fxpro_logo_full

As an agency broker, the costs associated with taking the orders out into the futures exchange are the main component of the commission, of which FxPro is currently charging.

Margin requirements across all other futures contracts remain unchanged since they were set at 2% in May.

The margin requirement for shares is now 10%, while the company reminded clients that they do not charge any commissions on share trades.

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