Axi.com (Was AxiTrader.com (.au) )

f-man

4Xangels Representative
Messages
762
Only 1 week listed in FPA and started spamming already....
That is not a good beginning!
 

dkami

Sergeant
Messages
757
Hmmmm no interest payed on account equity at the start of this month!!!!!!!!!

Anyone else have this problem?
 

forextool

Recruit
Messages
1
I posted this on the Forex Factory as well.

This broker confuses the hell out of me.

Firstly, they have an "ECN style Forex" trading account. Really? Could someone please explain that to me as if I were a child?

And please combine that with a quote from their policies:

In our dealings with you, we will act as principal and not as agent on your behalf.
Accordingly, we will be the counterparty to all of your trades.

In other words, if I make money, they lose money?
 

RahmanSL

Major
Messages
2,845
I posted this on the Forex Factory as well.
This broker confuses the hell out of me.
Firstly, they have an "ECN style Forex" trading account. Really? Could someone please explain that to me as if I were a child?
And please combine that with a quote from their policies:
In other words, if I make money, they lose money?


I believe that apply to their Standard account which is commission free....meaning AxiTrader plays the market maker and makes their money from spread difference.

Their Pro account charges AUD7 per round trip and so should be ECN....meaning they have no interest in whether you make or loss money. But they have more to gain with winning client cause, in the long term, they receive more round trip commission.

I think I should re-read AxiTrader's policies and T&C just to be satisfied before I commit more money into my live account with them.
 
Messages
6
I believe that apply to their Standard account which is commission free....meaning AxiTrader plays the market maker and makes their money from spread difference.

Any news on this broker? Have you deposited money into the live account yet? I would like to try them out, but if any of you have any feedback on them that would help please do let me know. I am thinking of using the ecn account.
 

dkami

Sergeant
Messages
757
Axi has stopped paying swap:mad:

All pair's that I looked at (nearly all) they do not pay swap and you don't pay swap, there a a few exceptions where you do still need to pay swap on a few pairs but no pair they will pay you swap that I could see:confused:

Will update if this changes( If I'm still with them that is)
 

RahmanSL

Major
Messages
2,845
Axi has stopped paying swap:mad:
All pair's that I looked at (nearly all) they do not pay swap and you don't pay swap, there a a few exceptions where you do still need to pay swap on a few pairs but no pair they will pay you swap that I could see:confused:
Will update if this changes( If I'm still with them that is)

Yes, I posted a similar comment over at DonnaForex forum...i.e I get charged negative swaps but none for positive swaps.... but none of their Rep posted any reply. So I did the obvious and switch broker (more appropriate to say "switch back") to one (ICMarkets) that do pay reasonable swap rates.
 

dkami

Sergeant
Messages
757
Yes, I posted a similar comment over at DonnaForex forum...i.e I get charged negative swaps but none for positive swaps.... but none of their Rep posted any reply. So I did the obvious and switch broker (more appropriate to say "switch back") to one (ICMarkets) that do pay reasonable swap rates.

O okay thanks for the heads up may have to give ICMarkets a go in the new year as I like to trade longer term!

Will be also getting onto the boss @ axi and see what the go is now with swap rates as that money must be going somewhere:confused:

If there's no joy I will be updating my review and withdrawing my account's that all have a nice % of profit's so if they give me any grief in withdrawing I'll be stopping into there office personally and it wont be pretty;)

P.S. let us know if you have trouble withdrawing,I want to know what I'm in for!
 

RahmanSL

Major
Messages
2,845
I have been getting around AUD2.71 for every 0.10 lot size trade on EUR/TRY from ICMarkets....but a big fat "0" with AxiTrader.
So, if you do "carry trade", the choice of broker is pretty obvious.

Check out "myfxbook" site....select top left corner "Home" and click on "Forex Broker Swaps" for swap comparison among various brokers.
ICMarkets positive swaps are pretty much at the top of those regulated brokers, but there are a few not-so-regulated brokers offering fantastic swap rates over the rest....but I don't think I want to try them out only to find out later that the large swap rates offered are not necessarily what they actually give me.

All the best...and happy hunting!
 
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