AxiTrader is a Market Maker from their own TOS
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Thread: AxiTrader is a Market Maker from their own TOS

  1. #1
    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 have”long” or”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.

  2. #2
    Being a market maker in itself is not necessarily bad. Trading against you won't force you to lose. With no entrance to the market would demand a whole lot more funds. The big banks don't let you play micro lots, extreme leverage, etc.... In other words, we need them.
    However, manipulating spreads, requotes, flaws, are all dirty. It comes down to the integrity of your MM broker.

  3. #3
    Quote Originally Posted by ;
    But, Implementing spreads, requotes, delays, are all dirty. It comes down to the integrity of your MM broker.
    That's just what AxiTrader is performing.

  4. #4
    Conflict of interest broker = Scam Broker.
    Yes, Axi is a entire scam broker, just like 95 percent of all brokers on the market.

  5. #5
    Quote Originally Posted by ;
    Conflict of interest broker = Scam Broker. Yes, Axi is a whole scam broker, just like 95% of brokers on the market.
    Fascinating take.
    I normally tend to consider extremes like total scam broker, when
    broker has zero respectable authority regulation
    broker offers enormous deposit bonuses
    broker that frequently and exceptionally spike/manipulate price and disperse
    and finally, but most significantly
    broker that doesn't honor withdrawal requests.

    I was not aware that Axi is inside this egory, my coping with them is eventless from the past 4 months, far from the group of brokers that become total scam broker.
    But suspect experiences differ user .

  6. #6
    Are you currently profitable with Axi?

    My deals with Axi turned sour as soon as I returned everything which I dropped (turned profitable). That is when these order delays started, the two pips over the ask price incident, etc..

    It was almost as if somebody was watching me do it, also it was somewhat creepy...I mean, I turned $100 to $1,100 in under a month, so it was evident they were watching me very closely, looking where they might'things up my transactions'.

    Plus they sure did...

    Axitrader is governed by ASIC in Australia, but that means squat . ALL conflict of interest in company must ring alarm bells, it's quite unethical.

  7. #7
    Quote Originally Posted by ;
    I was trading one day using AxiTrader, and I noticed when I was entering a long position, it stopped at the announcement that stated something like Processing. . .Please Wait. Now normally it states this for up to 1 second, but this time it just didn't budge, it remained like that for about 30 minutes. When it finally went , I instantly saw the price it entered me in for my long position was above the ASK lineup by roughly 2 pips. This is generally impossible, as their was virtually no volatility throughout the Asian Session (it was hardly...
    leave themthat will send a clear message only pack up and go, and as soon as you have removed your funds ship them a blisstering email,

    PHKIN Rip offs are everywhere,

    HERE IS SOMETHING NEW, AND ABOUT TIME TO.

    https://spectre.ai/

  8. #8
    Quote Originally Posted by ;
    Are you currently profitable with Axi? My deals with Axi turned sour as soon as I won back everything that I dropped (turned profitable). That is when these order flaws began, the two pips over the ask price episode, etc.. It was almost like somebody was watching me do it, and it was somewhat creepy...I mean, I turned $100 to $1,100 in less than a month, so it was evident that they had been watching me very carefully, looking where they might'things up my transactions'. And they sure did... Axitrader is governed by ASIC in Australia, but that means squat . ALL conflict...
    Axi also controlled by FCA.
    That beats ASIC for finance safety.

    I own scalp, and will directly compare Axi to my main account at IC....the results are only slightly different, and many surely I dont get two pips gaps.
    When scalping, that will be a bargain stopper if happening frequently.

    As for company, for actual no 0.01 lot orders will go out into the interbank market where DB or GS only awaiting your order to snap this up.
    Without partly or fully having the broker as counterparty, on 100$ or 1000$ account equity amount forex would be non-existent.

    But in the long run, it's always ultimately in your hand.
    If unhappy with something, vote with your feet, and deliver your company elsewhere. As there's literally 100s of brokers, it shouldnt be that difficult to find another that suit you better, overall.

  9. #9
    Quote Originally Posted by ;
    quote as for business, for actual no 0.01 lot orders will go out to the interbank market where DB or GS simply waiting for the order to snap this up. .
    Even though there are still fx places at which the minimum transaction size is 10,000 units, the minute. Direct deal dimensions with banks is now 1000 units (0.01 lot).

    IC and Axi are complete scammers, they're imitation brokers as so many others on the market.
    You'll notice that if you eventually become consistently profitable and drain their pockets.

  10. #10
    Sigh, what you need to view is a demo of how your trader can control the whole service behind your screen. If you noticed that, then as retail traders (once you had picked yourself up off the floor) you'd give up this unicorn chasing in the end of the rainbow, to get good.

    I have stated many times before that there's an arms race taking place behind the curtain, engineered by guys who would not look out of place working on software for the CIA and or Mossad. These guys are always weaponising their software to win. Anyone believing your honest broker exists only due to a small proportion of the spread given by investment level banks as a commission, is quite frankly delusional.

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