AxiTrader is a Market Maker from their own TOS | Forex Factory

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

  • #1
  • First Post: Mar 11, 2018 6:50pm Mar 11, 2018 6:50pm
I was trading one day using AxiTrader, and I noticed that when I was entering a long position, it halted at the statement that said something like "Processing...Please Wait".

Now normally it says this for up to 1 second, but this time it just didn't budge, it stayed like that for about 30 seconds.

Then when it finally went through, I instantly saw that the price it entered me in for my long position was above the ASK line by about 2 pips.

Now this is normally impossible, as their was virtually no volatility during the Asian Session (it was hardly moving), so I instantly knew that I had fallen victim to the 'Market Maker' principle (due to the time it took to execute the trade and that the price it entered me at was 2 pips above the asking price).

AxiTrader is a blatant Market Maker. Period.

They even openly admit this in their TOS under the heading "Conflict of Interest Disclosure":

'We and our officers, directors, and employees, including persons involved in the preparation or issuance of this material, may from time to time have “long” or “short” positions in, act as principal in, and buy or sell the financial instruments, and act as market maker. This may result in a conflict between the interests of AxiTrader and those of our clients.'

Read it for yourself here: https://www.axitrader.com/au/website-terms-conditions

I'm getting out of the FX game, it was only part time anyway, but I don't want to depend my future livelihood on Market Makers, and I'm guessing Pepperstone and IC Markets are the same.
  • #2
  • Mar 11, 2018 7:32pm Mar 11, 2018 7:32pm
They are they all have the same Conflict of Interest Disclosure. Its all make believe market...
  • #3
  • Mar 11, 2018 10:08pm Mar 11, 2018 10:08pm
Being a market maker in itself is not necessarily evil. Trading against you won't make you lose. Without them entry to the market would require much more capital. The big banks don't let you play with micro lots, extreme leverage, etc.... In other words, we need them.
However, manipulating spreads, requotes, delays, are all dirty. It comes down to the integrity of your MM broker.
  • #4
  • Mar 12, 2018 2:49am Mar 12, 2018 2:49am
Quoting Pipfu
However, manipulating spreads, requotes, delays, are all dirty. It comes down to the integrity of your MM broker.
That is exactly what AxiTrader is doing.
  • #5
  • Mar 12, 2018 5:17am Mar 12, 2018 5:17am
Conflict of interest broker = Scam Broker.
Yes, Axi is a total scam broker, just like 95% of all "brokers" out there.
  • #6
  • Mar 12, 2018 6:29am Mar 12, 2018 6:29am
Quoting The-Flipper
Conflict of interest broker = Scam Broker. Yes, Axi is a total scam broker, just like 95% of all "brokers" out there.
interesting take.
i usually tend to think of extremes such as "total scam broker", when
broker has zero credible jurisdiction regulation
broker offers huge deposit bonuses
broker that regularly and highly spike/manipulate price and spread
and finally, but most importantly
broker that does NOT honor withdrawal requests.

i was not aware that Axi is in this category, my dealing with them is eventless in the past 4 months, far from the group of brokers that fall into being "total scam broker".
but guess experiences differ user to user.
there is always, always another trade!!
  • #7
  • Mar 12, 2018 6:38am Mar 12, 2018 6:38am
Are you profitable with Axi?

My dealings with Axi turned sour as soon as I won back everything that I lost (turned profitable). That is when these order delays started, the 2 pips above the ask price incident, etc.

It was almost as if someone was watching me do it, and it was a bit creepy...I mean, I turned $100 into $1,100 in less than a month, so it was obvious that they were watching me very closely, looking where they could 'stuff up my trades'.

And they sure did...

Axitrader is regulated by ASIC in Australia, but that means squat all. ALL conflict of interest in business should ring alarm bells, it's very unethical.
  • #8
  • Mar 12, 2018 6:40am Mar 12, 2018 6:40am
Quoting Elpidius
I was trading one day using AxiTrader, and I noticed that when I was entering a long position, it halted at the statement that said something like "Processing...Please Wait". Now normally it says this for up to 1 second, but this time it just didn't budge, it stayed like that for about 30 seconds. Then when it finally went through, I instantly saw that the price it entered me in for my long position was above the ASK line by about 2 pips. Now this is normally impossible, as their was virtually no volatility during the Asian Session (it was hardly...

leave them, that will send a clear message just pack up and go, and after you have removed your funds send them a blisstering e-mail,

PHKIN Rip offs are everywhere,

HERE IS SOMETHING NEW, AND ABOUT TIME TO.

https://spectre.ai/
  • #9
  • Mar 12, 2018 7:06am Mar 12, 2018 7:06am
Quoting Elpidius
Are you profitable with Axi? My dealings with Axi turned sour as soon as I won back everything that I lost (turned profitable). That is when these order delays started, the 2 pips above the ask price incident, etc. It was almost as if someone was watching me do it, and it was a bit creepy...I mean, I turned $100 into $1,100 in less than a month, so it was obvious that they were watching me very closely, looking where they could 'stuff up my trades'. And they sure did... Axitrader is regulated by ASIC in Australia, but that means squat all. ALL conflict...
Axi also regulated by FCA.
that beats ASIC for fund safety.

i scalp, and can directly compare Axi to my main account at IC....the results are only slightly different, and most certainly i dont get 2 pips differences.
when scalping, that would be a deal stopper if happening regularly.

as for business, for real no 0.01 lot orders will go out to the interbank market where DB or GS only waiting for your order to snap it up.
without partly or fully having the broker as counterparty, on 100$ or 1000$ account equity level forex would be non-existent.

but in the end, it is always ultimately in your own hand.
if unhappy with something, vote with your feet, and bring your "business" elsewhere. since there is literally 100s of brokers, it shouldnt be that difficult to find another that suit you better, overall.
there is always, always another trade!!
  • #10
  • Mar 12, 2018 10:01am Mar 12, 2018 10:01am
Quoting profitfarmer
{quote} as for business, for real no 0.01 lot orders will go out to the interbank market where DB or GS only waiting for your order to snap it up. .
Even though there are still fx venues where the minimum trade size is 10,000 units, the min. direct deal size with banks is nowadays 1000 units (0.01 lot).

IC and Axi are complete scammers, they are fake brokers as so many others out there.
You will notice that when you become consistently profitable and drain their pockets.
  • #11
  • Mar 12, 2018 10:13am Mar 12, 2018 10:13am
Sigh, what you need to see is a demo of how your dealer can manipulate the whole service behind your screen. If you saw that, then as retail traders (once you’d picked yourself up off the floor) you’d give up this unicorn chasing at the end of the rainbow, for good.

I’ve stated many times before that there’s an arms race taking place behind the curtain, engineered by guys who wouldn’t look out of place working on software for the CIA and or Mossad. These guys are continually weaponising their software to win. Anyone thinking your honest broker exists only due to a small percentage of the spread donated by investment grade banks as a commission, is quite frankly delusional.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #12
  • Mar 13, 2018 9:17am Mar 13, 2018 9:17am
Does anybody care to buy a "juicy" parasite Metatrader Virtual Dealer Plugin?

Here is online advertisment from a company which sells these parasite plugins to market maker brokers:

Attached Image (click to enlarge)
Click to Enlarge Name: virtual dealer plugin.png Size: 198 KB

This a rigged system from the start... Even though the advantage is already at the "FxCasinos", it is not enough for them...
  • #13
  • Mar 15, 2018 1:04am Mar 15, 2018 1:04am
Hi Traders,

I’d like to introduce myself as Harry from AxiTrader. We’d like to encourage any issues experienced directly to our Customer Service Team who will be able to help resolve, whether by opening a specific trade investigation or otherwise.

Providing a positive customer service experience is a priority for us and so we take these conversations very seriously. If you do experience any support issues, our team are available 24/5. The contact details are:

AUS: 1300 888 936
UK: 0800 018 3306

Thanks for your time,

Harry
  • #14
  • Mar 15, 2018 2:47am Mar 15, 2018 2:47am
Hello Harry,

I'd like to know why:

1. Your Live Support Agents lied to me when I asked them if AxiTrader was a market maker with the reply "we are not market maker". You always have live chat agents who can't speak English properly too.
2. You manipulated my entry trades multiple times, with one time being so obvious, that it said 'Processing...Please Wait' for about 30 seconds, and when that was over, you gave me an entry price that was 2 pips ABOVE the ASK line (which is impossible). ALL entry prices should either match the ASK or BID line, NO EXCEPTIONS!

I look forward to your reply in this thread.
  • #15
  • Mar 15, 2018 2:56am Mar 15, 2018 2:56am
I forgot to add my last question:

3. Why are you a Market Maker? Why do you use the Virtual Dealer Plugin to manipulate trades?
  • #16
  • Mar 23, 2018 7:22pm Mar 23, 2018 7:22pm
forex dot com always freezes the platform when placing or closing and order, too.
  • #17
  • Mar 23, 2018 7:24pm Mar 23, 2018 7:24pm
forex dot com always freezes the platform when placing or closing an order, too. My plans trade around this obvious scam. I only trade "market orders". Sometimes I will accidentally get a better price (reverse slippage) when they freeze it up.
  • #18
  • Mar 23, 2018 7:42pm Mar 23, 2018 7:42pm
Quoting Elpidius
Are you profitable with Axi? My dealings with Axi turned sour as soon as I won back everything that I lost (turned profitable). That is when these order delays started, the 2 pips above the ask price incident, etc. It was almost as if someone was watching me do it, and it was a bit creepy...I mean, I turned $100 into $1,100 in less than a month, so it was obvious that they were watching me very closely, looking where they could 'stuff up my trades'. And they sure did... Axitrader is regulated by ASIC in Australia, but that means squat all. ALL conflict...
The same thing happened to me, for the last one year ,i have been loosing,whenever i start making good money ,they turn the markets right beneath my trade and then those trades would go in correction for months because i dont use hard stop loss.it seems they are watching us and trading against us.
  • #19
  • Edited 3:15am May 17, 2018 2:52am | Edited 3:15am
I had a long position in the dax (fdax pricing) @12.985 and moved my SL to BE when it seemed the price was going my way. I got taken out on the tick (blue dot in second picture), whereas the real price should be 3,5 points higher (see first pic: tief 12.988,5). Its not a big deal and its not a big difference in price, but it does show how brokers take advantage of your position. The normal spread is 0,5-1,5 points in the Dax with Axitrader. Its sometimes frustrating though. Makes you wonder what other tricks they have. Especially if you start reading about these mt4 broker pluginns.
My advice is to use the SL as a safeguard and keep it well away from price, or use a stealth SL such as the VR Stealth (Open terminal, then tab market, search for VR) Normally I use that, but this morning I used a normal SL because its part of my morning strategy. I ll make some adjustments to that though..
Attached Image(s) (click to enlarge)
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Everything is probable
  • #20
  • Edited May 6, 2019 7:40am May 5, 2019 4:20pm | Edited May 6, 2019 7:40am
far away such shit kind of broker they are away moving their price and always send your money less then what u withdaw guys be aware this broker like xm please be awere of it

sorry when the prices hit the 1.92 levels thats what ım talking about this history from yesterday just look this tricky
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