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  • #16
    Moving to ICM.

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    • #17
      The currency falling under 1% will still get 1:400 leverage.But stop out level is 50%.

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      • #18
        Originally posted by oandagut View Post
        The currency falling under 1% will still get 1:400 leverage.But stop out level is 50%.
        Can you explain this to me? My understanding is 1% is 1:100.

        Sent from Uranus

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        • #19
          I am also confused.The live help on their website told me that currency pairs falling under 1% will still enjoy 1:400.Also they increase the stop out level to 50% which is dangerous for viper followers on 3x risk.What if axi close your positions and viper recover after touching the 50% DD mark.
          They are making big mistake by doing this.Nick need to talk to them as he has opened a new MAMM account with them.

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          • #20
            Originally posted by oandagut View Post
            I am also confused.The live help on their website told me that currency pairs falling under 1% will still enjoy 1:400.Also they increase the stop out level to 50% which is dangerous for viper followers on 3x risk.What if axi close your positions and viper recover after touching the 50% DD mark.
            They are making big mistake by doing this.Nick need to talk to them as he has opened a new MAMM account with them.
            1% means 1:100.

            1:400 means nothing, they guy on live support doesn't know what he is talking about.

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            • #21
              I just phoned AxiTrader London they have said that ALL the majors will remain at 1:400.
              But at 50% DD they will start to close positions which could be an issue.
              It is just some exotic FX pairs that are affected as listed below.

              Margin Requirement Currency Pairs
              3% EURCZK, USDCZK, USDTHB
              2%
              AUDSGD, CADSGD

              CHFSEK, CHFSGD

              EURHKD, EURHUF, EURNOK, EURPLN, EURRON

              EURSEK, EURSGD, EURTRY

              GBPNOK, GBPSEK, GBPSGD, GBPTRY

              MXNJPY

              NOKJPY, NOKSEK

              SGDJPY

              TRYJPY

              USDCNH, USDHKD, USDHUF, USDILS, USDMXN, USDNOK, USDPLN, USDRON

              USDSEK, USDSGD, USDTRY
              1% All Others
              Last edited by fabx; 06-02-2015, 02:10 PM.

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              • #22
                Originally posted by fabx View Post
                I just phoned AxiTrader London they have said that ALL the majors will remain at 1:400.
                But at 50% DD they will start to close positions which could be an issue.
                It is just some exotic FX pairs that are affected as listed below.

                Margin RequirementCurrency Pairs
                3%EURCZK, USDCZK, USDTHB
                2%
                AUDSGD, CADSGD

                CHFSEK, CHFSGD

                EURHKD, EURHUF, EURNOK, EURPLN, EURRON

                EURSEK, EURSGD, EURTRY

                GBPNOK, GBPSEK, GBPSGD, GBPTRY

                MXNJPY

                NOKJPY, NOKSEK

                SGDJPY

                TRYJPY

                USDCNH, USDHKD, USDHUF, USDILS, USDMXN, USDNOK, USDPLN, USDRON

                USDSEK, USDSGD, USDTRY
                1%All Others
                Ok I spoke with Sydney office and they said that 1% all others included EURUSD as that was the example that I gave. Pretty stupid they aren't on the ball with this. I'm already looking for other brokers. If it remains 1:400 then I'm just wasting my time

                Sent from Uranus

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                • #23
                  The 50% figure they mention refers to margin level not DD.
                  Last edited by littlemax; 06-02-2015, 02:42 PM.

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                  • #24
                    BRM is your VIP account with AXI, mine is, the 50% margin could be a problem. What is the % for margin with the other VIP accounts. Does anyone know this. Thanks.

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                    • #25
                      Yes the 50% is issue for viper clients.Waiting for Nick.

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                      • #26
                        How is at Global Prime?

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                        • #27
                          I'll call one of the main guys like Tyson at axi tomorrow when I wake up and get it from someone senior. I'll post the definitive answer up here as soon as I get a solid answer.

                          Sent from Uranus

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                          • #28
                            This is my reply from this mornings conversation.

                            I don’t believe you trade any of these products but you’re right as its not very clear, its based on an account that’s one 100:1 in the PDS

                            So its the margin requirement based one the leverage of the account. If your account is on 400:1 which is 4 times what it’s based on, you simply divide each of the percentage margin requirements by 4.

                            So the 1% will be 0.25% the 2% will be 0.5% and the 3% will be 0.75% face value of the contract you are trading, so you will be ok.

                            Cheers

                            Tyson


                            The crux of it is that it is a very poorly worded email, and to add to that the staff obviously weren't told by upper management so live support had no idea what all the phone calls were about last night, so it's hardly the live support staff's fault for the extra confusion. So unless your trading those exotics is of basically no concern.

                            Hope everyone is clear on that now.

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                            • #29
                              What about the 50% ? lets say if client has a $1000 balance .Will they start closing positions if the client is in $500 DD?

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                              • #30
                                Originally posted by oandagut View Post
                                What about the 50% ? lets say if client has a $1000 balance .Will they start closing positions if the client is in $500 DD?
                                Positions could be closed when the margin level reaches 50% which is different to open DD of 50%
                                Margin level is calculated in real time on your MT4 by this formula:
                                Acc. Equity divided by Margin shown for open trades, shown as %
                                Last edited by littlemax; 06-03-2015, 07:33 AM.

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