.

Axitrader warning

Moderators: mntiwana, mrtools

Axitrader warning

#1
Hi just want to post my recent experiences with Axitrader.

On Friday 10th August 7am I funded my account with the UK faster payments system. This means that the funds will be in their account within 2 hours – normally an hour and Axitrader would fund the account relatively quickly – within a few hours.

On Friday 10th August at 11am I asked where the funds were and customer services said she would find out and email me back.

Friday 10th August at 2pm still nothing so I asked again and they said someone would call me back with when the funds would show in my account.

Sunday night 12th August market open in the UK 10pm – funds STILL not showing.

I spoke to customer services and they said the funds would appear at 12 midnight when they perform reconciliation.

Wake up this morning and the funds are still not in the account. This is a total farce.
I have spoken to 3 people who told me the funds would be there shortly and in each case it never happened, they simply lied to me.

No one that said they would get back to me did.

To compound this I also put this on twitter and they have tried to turn this into a marketing opportunity about their analysis service.

Over the past month I have been battling customer services to get correct information on a swap free account – a whole month was wasted because it turned out their information they had sent was incorrect.

Their frontline do not know what they are doing – it appears to be filled with people with very little experience in how the company operates and how to do customer service.

Axitrader have gone downhill considerably.

Use someone else like Dukas, Oanda or Pepperstone.


Re: Axitrader warning

#3
Axitrader.png
I recommend you to write the FCA and the financial ombudsman. They should find it interesting how an FCA regulated broker offers a leverage of up to 400:1 a half month after ESMA restrictions set in. Hope you get your money back very soon.

Re: Axitrader warning

#4
Thank you for sharing guys! I will note it in my "not recommended" brokers list :)

Re: Axitrader warning

#5
When some points are strange with this broker better don't touch it. Only small brokers have MT4 only in 2018. Small or unknown doesn't mean automatically bad, but it is an additional risk. AxiTrader is no new broker, but quiet unknown I would say. This broker obviously try to attract unexperienced clients. Normally, as good broker you want experienced clients, especially now with the ESMA restrictions where you can give them professional status.

It's a bit like reading the market before you enter a position. We have enough big and mature brokers to work with. No experiments as small retail trader.


Re: Axitrader warning

#6
In addition, the regulation is very important as well. If the broker is not regulated by any trusted regulator - stay away from him :) Another great sign is the working model of the broker: If the broker offers interesting signup bonuses- stay away :)


Who is online

Users browsing this forum: CommonCrawl [Bot] and 1 guest