AxiTrader AFS licence suspended

Axitrader is a scam, they block buying and selling CFD's on commodities such as "WTI.fs" when they feel too many people are making money by buying oil at $7 at 400:1 leverage.

I was about to enter a long position on WTI.fs @ $10 when the error popped up "Trade is Disabled".

What is the purpose of "trading" or "buying and selling" CFD's of commodities, if the broker blocks "trading" or "buying and selling"?

If the goal is to trade, and the broker blocks trades, how are they still classified as a broker?

Basically: People want to trade, the broker disabled trading.

Please everyone report Axitrader to ASIC: they still have the "ASIC Regulated" on their homepage in Australia: https://www.axitrader.com/au.

Please everyone report Axitrader to every investment or trade regulator out there, since they think they can "suspend" trading whenever they feel like it on Live Markets.

In essence, that is manipulation of the markets, since buying and selling is prohibited.

If you read thier terms of service, I think you'll find they reserve the right to halt trading, or limit order type to close only, when ever they see fit.
Brokers who don't manage risk properly don't stay in business.

"I think" is a pathetic defense, because "I think" I can start up my own broker with my own "terms of service" to say:

"We reserve the right to hold your funds for whatever reason we want" or "we don't have to pay out any funds based on potential price quote errors", etc.

Your opinion on logic is flawed, specifically when it comes to law and legislation: you can't create your own rules for your own business.

"I think" I could write on my website's "terms of service" that whoever visits the website, automatically accepts the "terms of service" that they have forfeited their lives and will be killed in 10 days time.

"But it says in the terms of service" is not a valid excuse.

People sign up to a broker to trade, not to be stopped from trading.

That is the point of trading, to trade.

Look up the definition of trade you moron.

EDIT: By the way, SHOW me where in their TOS it allows disabling of trading. It is nowhere in the TOS, only in the FAQ which is not a valid legal disclaimer, regardless of laws and legislation in Australia.

Funnily enough, they admit they are "market maker":

'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.'

Defend Axitrader all that you want, they are still scammers, and is no wonder ASIC removed them. It was about time, I noticed a while back they they had "conflict of interest" between themselves and clients.

Yet, you are still unsuccessfully attempting to trade with them. Wow

On a demo account, my friend, is where I tried to enter a long position, and alas it is blocked even on demo. My real account is still "$0.00".

Wow.

Don't jump to conclusions, or you look like a fool.

Judging by your post count, you spend more time typing on forums than trading.

You're just another loser, blaming your broker for your inability to read ToS or trade.

Oh, boohoo.

Another "loser" huh?

Guess you're just another child posting on a forum as an anonymous user in your mothers basement, behind that computer screen.

Why do you have "Demo Baller!" on your profile?

Oh, wait, because firstly you're a hypocrite, and because you're not a real trader, and you insult other real traders who have multiple accounts, but choose not to trade with scamming brokers like Axitrader.

I guess you have nothing better to do than to defend Axitrader for having its ASIC license suspended.

How about you call ASIC on the phone, insist Axitrader is not a scam, and become Axitraders lawyer in court, if you want to defend their actions. ASIC has no trouble reading ToS, and that is why they took that course of action.

You're a disgrace to all Australians out there, you defend the guilty, and attack the innocent.

Axitrader clearly state "WE ARE MARKET MAKER" in their ToS, which I can read, despite your trivial insults hurled at me.

Keep going "Demo Baller!" with Axitrader though, I'm sure you'll eventually try and withdraw some funds...when (if) you become profitable, then you'll see problems start, when you try and start withdrawing your profits, just like a reviewer on "Trustpilot" who is suing Axitrader for "Illegal Withholding of Funds".

Is it a coincidence that Axitrader is withholding funds, right at the time that oil is at an all time low? I bet that reviewer on "Trustpilot" made a squillion dollars buying oil on Axitrader, and now Axitrader don't want to pay out.

What a waste of time replying to you, a prick of a human who does no good and only evil.

About axidrader being suspended, how has it been like today? Did axidrader finally pay the customer?
By the way someone let me ask? The broker has an ASIC license and where to look on https://asic.gov.au/. I can tell which broker's domain is protected by ASIC (because, they use domain names for each region of the world).

just checked their license still valid. but if theyre B Book broker should stay away