Axitrader - potential scam

Ibra Saad

Hello all,
I have been with Axitrader for over a year. I was very happy with everything and kept depositing funds and losing it and had no problem with it as I believe it was my fault. During the past 6 months I have lost about $ 20k and I can’t complain as it was my mistakes J. Yesterday I lost $360 and I got MAD because I believe that it was a system, platform or someone else’s mistake.

On Tuesday Sep 26, 2017. I have encountered my first issue with Axitrader because my account was margined at 6:30 a.m (server time). due to Brent price went high on my sell deals . However, After I opened the 3 closed deals of my $360 account, I was shocked that the swap was $106 per deal and the actual loss was below $20 for each deal.

I have contacted the Axitrader services team who were responsive and polite. And they confirmed that the deals were closed due to price going against my favor and the huge swap had nothing to do with margining my account. Even though my Margin level was above %90 when the Brent price was above $59.15 and based on MT4 and Axi customer service my deals were closed at 58.85, at that price, my margin level would be at least at %120. I believe that I was not margined because of the price going against me because it is the first time in my life I see a 3 deals totaling in $360 and have a total swap of $318 !!

what I got as a response from the Axi team is a confirmation that my loss was due to prices going against me and the huge swap has nothing to do with it and was not a factor to the margin level. On the other hand, it didn't make sense to me because the following:

1- The MT4 chart during the time my deals were closed on and the price of closing the deal was 58.85 where my margin was at least %120

2- Swap per deal is $106, total $318 for the 3 deals (account equity was $360).

3- In the MT4 history, each of my deals had a loss of less than $20 and $106 swap at the time of margining.


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