I was trading one day with AxiTrader, and I noticed when I was entering a long position, it stopped at the statement that stated something similar to Processing. . .Please Wait.
Now generally it states this for up to 1 second, but this time it just didn't budge, it remained like that for about 30 seconds.
Then when it eventually went through, I instantly saw the price it entered me in for my long position was above the ASK lineup by roughly two pips.
Now that is generally impossible, since their was virtually no volatility during the Asian Session (it was hardly moving), so that I instantly knew that I had fallen prey to the'Market Maker' principle (due to the time it took to execute the transaction and the price that it entered me was two pips above the asking price).
AxiTrader is a clear Market Maker. Period.
They even openly admit this in their own TOS under the heading Conflict of Interest Disclosure:
'We and our officers, directors, and employees, including persons involved in the preparation or issuance of the material, may from time to time haveâ€long†orâ€short†positions in, act as principal in, and buy or sell the monetary instruments, and act as market maker. This might result in a conflict between the interests of AxiTrader and those of our clients.'
Read it for yourself : https://www.axitrader.com/au/website-terms-conditions
I'm getting from the FX match, it was only a part time anyway, but I don't wish to rely my future livelihood Market Makers, and I'm imagining Pepperstone and IC Markets are the same.