Axitrader

[Nick]

Oh Ok not really keen on daily account statements just want a monthly or yearly account statement so its easier when i comes time to pay tax on my profits rather than printing off hundreds of daily account statements

Thanks

Sorry to confuse. You get monthly statements as well as the daily statements. I thought your question centred around the ability to monitor your account rather than tax office reporting of all your profits

[vblake]

Yes, you actually get daily statements as well as read only access to your account so you can check positions on your phone whenever you want.

Oh Ok not really keen on daily account statements just want a monthly or yearly account statement so its easier when i comes time to pay tax on my profits rather than printing off hundreds of daily account statements

Thanks

[Nick]

i plan on opening an account through Axitrader i plan to invest in gold star does Axitrader send monthly account statements

Yes, you actually get daily statements as well as read only access to your account so you can check positions on your phone whenever you want.

[vblake]

i plan on opening an account through Axitrader i plan to invest in gold star does Axitrader send monthly account statements

[littlemax]

I received this email from Axi regarding temporary margin changes, nothing from IC Markets or other brokers yet but I expect other brokers could follow suit, so best to prepare accounts for the leverage change in advance if needed - and FOMC+NFP as well thrown in for the week , should be interesting...I esp noted eurusd in the lowest category 3, & xauusd in the highest 5.

US Election changes to trading conditions
From market close on the Thursday, 3rd November, we will be increasing the margin requirements for all products.
The margin multiple applied to each product is as follows':

Changes to Margin Requirements

We will be adjusting the margin requirement, as a multiple of your current margin requirement. For example, if your current leverage is 100:1 as an example, your new effective leverage would be:

Margin Multiple	Effective Leverage
2	50:1
3	33:1
5	20:1

Margin Multiple	MT4 Symbol (includes standard, .pro & .swf)
2	CHFSEK, EURCHF, EURNOK, EURSEK, EURUSD, USDCHF, USDNOK, USDSEK
3	AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURGBP, EURJPY, EURNZD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNOK, GBPNZD, GBPSEK, GBPSGD, GBPTRY, GBPUSD, NOKJPY, NOKSEK, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDJPY
5	AUDSGD, BRENT.fs, CAC40.fs, CADSGD, CHFSGD, CHINA50.fs, COCOA.fs, COFFEE.fs, COPPER.fs, DAX30.fs, DJ30.fs, EURCZK, EURHUF, EURPLN, EURRON, EURRUB, EURSGD, EURTRY, EURZAR, EUSTX50.fs, FT100.fs, HSI.fs, MXNJPY, NAS100.fs, NATGAS.fs, NK225.fs, S&P.fs, SGDJPY, SOYBEAN.fs, SPI200.fs, TRYJPY, USDBRL, USDCLP, USDCNH, USDCNY, USDCOP, USDCZK, USDHKD, USDHUF, USDIDR, USDILS, USDINR, USDKRW, USDMXN, USDMYR, USDPHP, USDPLN, USDRON, USDRUB, USDSGD, USDTHB, USDTRY, USDTWD, USDZAR, WTI.fs, XAGAUD, XAGEUR, XAGUSD, XAUAUD, XAUEUR, XAUUSD, XPDUSD, XPTUSD, ZARJPY

[genki7]

I think AXI are getting more expensive to trade at,
Margin: Positions that are fully hedged still get Margin charged. (Isn't this what was happening in the USA that lead to the changes, brokers charging for hedged positions).
Swap: Charging Negative Swap on both Long and short Positions for AUDUSD.
Wouldn't be surprised if they have wide swap charges on other currencies.

[littlemax]

Finally got this sorted, my VIP account was not on the correct spread, can't understand how that happened.

[littlemax]

ok thanks, I contacted them on chat ,they are looking into it, comm. is correct though just spread discrepancy.

[Nick]

HI Nick, is there a spread mark up on VIP accounts with Axi? Reason I ask I noticed my VIP account with them has a different spread -higher- to another non VIP Pro account I have with them.

No, I can guarantee there's no spread markup. It's on regular the pro feed with normal $7 comms. If you're noticing a discrepancy please hit them up.

[littlemax]

HI Nick, is there a spread mark up on VIP accounts with Axi? Reason I ask I noticed my VIP account with them has a different spread -higher- to another non VIP Pro account I have with them.

Anyone else have problems receiving e-mails from AxiTrader? I have google account and 3times not receave e-mail from AxiTader (also check all folders like Spam,...).

[littlemax]

Thanks Nick, I'll leave it there but I haven't thought Axi were very competitive with what they offer for a while now, I've thought a few times about swapping my VIP account with them over to IC Mkts and probably what stops me doing that is keeping some broker diversity just in case. Reliable they are, but for a broker of this size I think they could be better.

[Nick]

OK, I had overlooked the markup on the MAM, apology due there, but when I look at eurusd on IC Mkts & Axi side by side on 2 vip accounts their spread is often double or more. Did you look at their live spreads on
Axi website Nick to compare as well? They told me on chat end of last week they had marked up their spreads.

No, I'm not looking at the live spreads or the website. To be honest the advertised spreads and the "top of book" which is what you see on your chart is only one side of the story. I care about how the trades actually execute in the market. Our analytics function on SimpleTrader gives this level of detail. You should be able to have a look and see if performance had dropped off in the past few months relatively easily. I don't have an identical account copying the same trader at Axi and other brokers, so it's hard for me to compare. If you jump on support with your details I'm happy to have a closer look at your account though.

[littlemax]

OK, I had overlooked the markup on the MAM, apology due there, but when I look at eurusd on IC Mkts & Axi side by side on 2 vip accounts their spread is often double or more. Did you look at their live spreads on
Axi website Nick to compare as well? They told me on chat end of last week they had marked up their spreads.

[Nick]

Hi Nick, I'm starting to question why Axitrader spreads have not returned to pre Brexit levels & also why there is now a difference between the spread on MAM accounts & other ecn accounts including VIP accounts? I spoke with them a couple of times & all I got was something about marking up spreads. I noticed at first that their live spreads don't match what they show on their website, the difference is around double on live accounts. It seems to me as if they are taking advantage of the Brexit to hike spreads & leave them there & even more to fleece accounts on the viper MAM as well with the spread. they don't seem to be able to explain an legitimate reason for any of this so I'm starting to think they are up to something. Any ideas Nick what 's going on there?

Hi Littlemax,

Thanks for letting me know. I've done a bit of work just now on the execution and average pip gain on FX Viper as an example. The spread looks to be ok from what I can tell and not significantly different from IC Markets.

Can you be more specific?

The MAM has a 0.2 pip markup applied to it as part of our license fee for the regulation, but this is more than offset by the $3.75 commission discount on brokerage.