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Axis Trader - Australian ODL

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Thanks for letting us know Norman, I will have a look after Easter.

Nice to have alternatives
 
dont bother.

bucketshop.

if it sounds too good to be true, it probably is.

last week, friday, the whole platform froze for 2 minutes right on cue at the NFP release time....

id love the oppertunity to trade Futures without needing 10k to open an IB account, but its not worth the risk trading with someone who relies on your loss to make their profit....

freezing at news time to me is a sign this is what is going on.

and this broker claims to be about fast execution, automated trading, and advertises their platform as 'reliable' or 'stable' or something like that.

true, while i was using the demo, it was wonderful

throw this one in the compost bucket with IG markets and all the other rotting trash out there. its the last time i trial one of these, theyre all the same...
 
I agree with garthstar. All brokers the same. I was disappointed trading with Axis and now looking for another broker. Can anyone suggest anything good? I do not use EA's, all trades execute manually.
 
garthstar said:
throw this one in the compost bucket with IG markets and all the other rotting trash out there. its the last time i trial one of these, theyre all the same...
Click to expand...

Do you trade with IG now? How do you like it? Do you trade manually or use robots? Do you leave outstanding orders or take profit/stop loss?
 
garthstar said:
id love the oppertunity to trade Futures without needing 10k to open an IB account, but its not worth the risk trading with someone who relies on your loss to make their profit....
Click to expand...

There are several US based brokers that will let you start a futures acct with US$2000 or A$ equivalent. Day trade margins start @US$500 for ES as an example. When you trade Indexes etc via CFDs, companies offering these products they cease to be brokers, they become Market Makers.

Edited: Clarity
 


Hi Garth,

You are rather wild with your accusations about "bucketshops" etc. but your comments actually reveal your ignorance.

Stock indices on AxiTrader are provided with constant spreads. During NFP announcements the market goes haywire and spreads widen considerably and Bids and Asks jump all around the place, so AxiTrader cannot present you with any reasonable values.

You should thank AxiTrader, because in effect AxiTrader has saved you from yourself. Try and trade IB during the NFP announcement!!!

If you don't even have 10k for trading forget about trading real futures markets. A minimum should be 25k for the SPI and 40k for the DAX.

So be a nice boy and send an apology and thank you note to AxiTrader.

PS They might indeed turn out to be a "bucketshop", but not for freezing the platform for 2 minutes during the NFP announcement.

Regards,
MBES .
 

So i take it your a employee of AXIs and your not even good enough to admit it. POOr Poor Poor.

It's good to see some true reports from live account holders, and before u dribble on about trading NFP with IB I can tell you they don't freeze the platform cuz i have a live account them.

If AXI do freeze on the NFP then yes they're a bucket shop. Great to see brokers employees still need to come on forums and defend their employer behind false names.

cheers
 
Yes garthstar, you should thank this provider for deciding to turn off it's platform if that is what occurred. MM's are benevolent souls and would hate for you to lose money trading one of their synthetic markets.

MBES: Try to be a little less condescending.
 

Dear Apocalypto,

1) I did not say IB freezes their platform during the NFP announcement; I said "Try and trade IB during the NFP announcement!!!". I have had 2 live accounts with IB for 8 years and conceptually I would love to do a strangle around the NFP announcement (I even did it once when I was young and ignorant. It wiped out the my first IB account!)

This is what happened with the strangle I set up diligently before hand:
The Bids and Asks (spreads) jump around wildly. The really big traders (not AxiTrader et al.) know exactly what the retail traders are doing and it is easy pickings for them - they move the market. You will buy the Long future at the peak, sudden reversal, stopped out ( you set the strangle up before hand with stops etc.) way below the level you set. The reversal continues and you sell the Short future at the absolute low point, then another reversal sets off that stop, which will be executed at the absolute peak of that move.

My losses would have been much lower using options rather than futures for the strangle, but I did not know how to trade options via IB at the time.

2) Apart from having a live account, I have no connection with AxiTrader.

If you have genuine issues with them, by all means bring them up. After all that is one of the main reasons I check ASF out. But please don't waste your time and our time with complaints emanating from ignorance.

The more people make wild accusations on this forum, the less credible it becomes.

Regards,
MBES
 
mbes said:
My losses would have been much lower using options rather than futures for the strangle, but I did not know how to trade options via IB at the time.
Click to expand...

Now I am going to have to reveal my ignorance and ask; wtf is a strangle using futures?
 
village idiot said:
Now I am going to have to reveal my ignorance and ask; wtf is a strangle using futures?
Click to expand...

For example the non-farm payroll numbers is coming out and you know it will move the market, although you don't know which way it will move.

Say Dow is at 10,000 points before the announcement, you decided to place pending orders both above and below the current price (hence the strangle). So you have a stop buy to open at 10,050 (stop loss at 9,950 say) and a stop sell to open at 9,950 (stop loss at 10,050).

NFP number comes out and market initially jumps 50 points, triggering your buy. It quickly retraces hitting your stop. You lost 100 pts, but you just have your sell order triggered as well. The market then decide that the numbers are that bad afterall, and it jumps back up to 10,050. Viola - you are 200 pts down and your strangle has just failed spectacularly.

The fact that the strangle failed has nothing to do with which broker / provider you are using - it's just that your strategy didn't work. Same outcome whether you are in the real futures market or a bucketshop.

I have a live (but very small) Axis ODL account and use it during the day for monitoring the SPI and the occassional trade if opportunity comes up. It performs OK most of the times with spreads mirroring the market. I've never looked at it during out of hours on the SPI but the spreads in the real SPI can be horrendous anyway, so don't expect any better from Axis.

Set your expectations right (and low) and you will never be disappointed with your CFD provider.
 
wow i guess people actually read this forum, especially brokers with BIG WRITING, as big as their spreads can be !

thanks for that, ill look into o/s futures accounts perhaps.

im especially interested in currenex, have seen it on an MF global demo i had once i think, real interbank rates, so hopefully a US broker with smaller a/c starting has this, otherwise, ill just have to wait.

meanwhile, im back on good ol trusty oanda, who dont seem to cheat, so ill put up with 50;1 for the moment.

i never said anywhere actually that im a news trader, or a news trading strangler for that matter, im just a boring technical trader thats all.

pullbacks to the pivot, pivot back to the open, if it crashes through, jump in grab a few, that sort of thing. i dont really care about ea's either, i cant program either.

no, i definately arent trading on IG. already been stop-hunted by them.

i just thought the platfrom freezing was a bad sign, a sign we are dealing with a bucketshop.

im instead daytrading the USD/JPY. not as exciting as the spi, but more liquid, and very polite, doesnt slop over trendlines much...

at evenings, i go the EUR, its cheapest spread on oanda, and less tricky than GBP.

i got axis, because i enjoy to play oil, and spi, but especially oil around the US open is fun. when it froze up, i got my $1000 out of their casino, plus the $400 i was up and called it a day.

i suggest if u have an ig axis or any other such account, and you are up any amount, take it and walk out of the casino. its a gr8 feeling!


cheers for all the support

G
 
I have mentioned to them many times about freezing and they just say, everything is ok their end, it must be my PC.

Requotes are horrendous.

Freezing is one of many standard features of Metatrader Manager for brokers.
This actually a promo for another product but clearly shows and mentions the features of Metatrader Manager.
http://www.youtube.com/watch?v=Cf-Cs0bHXdg
And this is just one of many plugins and options for brokers.

Most people are well aware of MT4 platform scams, it just sh!ts me there is so little regulation of FX and these thieves.
 
Been trading commodities and indexes with AxisTrader for a while now, and I wouldn't recommend them. They claim their feeds track exchanges direct - and while that's true 95% or more of the time - there's enough lags, unexpected spikes and market opening shenannigans to make a mockery of that. I know, I've tracked them against my futures brokers feed. Their version of MT4 makes it impossible to set quick stops and targets, spreads ballooon out beyond their claims, and feeds can choke. Also had a couple of problems with stops not being hit. They just fob you off and don't get back to you. Shocking customer service.

Usual B-grade bucket shop.
 
am using axis trader demo in a yte trading comp

my ist exposure to forex trading

how does the demo account differ in function, relay of data, processing of order to the real account ?
 
well i must have got lucky then cos just after the data froze, my stop got hit, bang on. could have been worse, miss the stop, and take more of my cash and call it 'slippage' , stop me out an extra 10 pips, pocket more...

after reading that about the MT4 broker plugins, will avoid from now on MT4 religiously, as religiously as i avoid religion
 
lana11 said:
I agree with garthstar. All brokers the same. I was disappointed trading with Axis and now looking for another broker. Can anyone suggest anything good? I do not use EA's, all trades execute manually.
Click to expand...

We have a live account with MarketsPlus. They are good with execution and customer service. Better than all we have tried so far.
 
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