The lack of a robust regulatory framework raises concerns about the safety of client funds and the broker’s overall trustworthiness. This article will investigate the safety and legitimacy of Axes by examining its regulatory status, company background, trading conditions, customer experiences, and other vital factors. Although it is often considered to relate to the execution that a client receives from their broker, STP is in fact a post-execution, post-trade communication process between executing counterparties with minimal impact on the speed or price of execution that a retail trader is offered.
The potential for scams and fraudulent activities in the forex trading space is high, making it essential for traders to discern trustworthy brokers from those that may pose risks to their investments. In conclusion, while Axes presents itself as a legitimate forex broker with a range of offerings, significant concerns about its regulatory status, transparency, and customer experiences cannot be overlooked. Traders are advised to mitigate risks by conducting thorough due diligence and considering alternative brokers with stronger regulatory oversight.
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Multiple industry sources, who were not authorised to speak publicly, told the AFR that Palmer was the person who lodged the complaint that led to Kelly stepping aside last month on full pay. Engaging in risk management practices, such as setting stop-loss orders and limiting exposure, can also help protect investments. However, the performance and stability of the platform have been called into question, with some users reporting instances of slippage and order rejections. Another trader noted that the customer support team was often slow to respond to inquiries, leading to frustration. For instance, one user reported that their withdrawal request took several weeks to process, raising concerns about the broker’s operational efficiency.
Common complaints include difficulties in withdrawing funds and unresponsive customer support. However, the effectiveness of these measures is questionable given the broker’s regulatory status. When evaluating a broker, understanding its trading conditions is vital for determining the overall cost of trading. The firm has positioned itself as a multi-asset broker, offering access to a diverse range of financial instruments.
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Customer feedback is an essential aspect of evaluating a broker’s reliability. Historical issues regarding fund security have not been reported, but the lack of transparency regarding these policies is concerning. The broker’s policies on negative balance protection and investor compensation schemes are also unclear.
Furthermore, the absence of detailed information regarding overnight interest rates raises concerns about potential hidden charges. Axes offers a minimum deposit requirement of $500, which is relatively high compared to the industry average. However, the companys ownership structure and management team remain somewhat opaque, with limited publicly available information about the individuals behind the organization.
- In the event of financial difficulties, the absence of a robust regulatory framework could leave clients vulnerable, as there is no guarantee of compensation for losses.
- However, the companys ownership structure and management team remain somewhat opaque, with limited publicly available information about the individuals behind the organization.
- While Axes markets itself as a no-dealing desk (NDD) broker, the lack of transparency regarding execution quality raises concerns about potential conflicts of interest.
- The trading platform offered by Axes is primarily MetaTrader 5 (MT5), which is known for its advanced features and user-friendly interface.
All client trades are executed with No Dealing Desk1 intervention. The board is also managing an ongoing ASIC investigation into potential insider trading by two employees, which the regulator confirmed last month had not been closed. However, the timing has unsettled some brokers and underwriting agencies linked to Steadfast’s national network. Whether it is a legitimate broker to see if the market is regulated; start investing in Forex App whether it is safe or a scam, check whether there is a license. Ultimately, while Axes may provide a platform for trading, the question of “Is Axes safe？” remains a valid concern, warranting careful consideration before proceeding. The trading platform offered by Axes is primarily MetaTrader 5 (MT5), which is known for its advanced features and user-friendly interface.
For the Tait-Bryan convention, each of the three angles in a Euler angle triplet defines the rotation around a different Cartesian axis.
Axes Similar Brokers Safe
Palmer joined Steadfast in 2024 as executive general manager of operations after a career spanning IAG, TAL, Swiss Re, KPMG and Westpac, where she served as COO of financial crime and fraud prevention. Her departure adds to a string of senior exits, including her predecessor in July and longtime chief financial officer Stephen Humphrys in August. The company framed the decision as part of a broader review to “ensure the sustainable future of the organisation”. Kelly, 78, returned to his role last week after the company informed the ASX that the review had “concluded on a confidential basis”.
Risk Assessment
- Our counterparty AXES LLC operates under a “Non-Dealing Desk Intervention” using a hybrid model with an agency method of execution, which means we’re able to internally match a great deal of our order flow.
- Using Axes as a trading platform involves several risks that traders should be aware of.
- For those considering trading with Axes, it is crucial to weigh these risks against their trading goals and risk tolerance.
- Although we may transmit your orders to third party liquidity providers, contractually, AXES is the sole counterparty to your trades and any execution of orders is done in our name.
- Her departure adds to a string of senior exits, including her predecessor in July and longtime chief financial officer Stephen Humphrys in August.
To summarize, we will employ a Tait-Bryan Euler angle convention using active, intrinsic rotations around the axes in the order z-y-x. The corresponding roll, pitch, and yaw rotation angles are positive in the directions indicated by the arrow circles. Right-handed rotation means rotations are positive clockwise when looking in the positive direction of any of the three axes.
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The regulatory framework under which a broker operates is one of the most significant indicators of its legitimacy. For classic Euler angles, the three elemental rotations are performed around only two axes. Our counterparty AXES LLC operates under a “Non-Dealing Desk Intervention” using a hybrid model with an agency method of execution, which means we’re able to internally match a great deal of our order flow. AXES LLC is the Clients’ sole counterparty and/or execution venue. In conjunction with price, we also quote the available liquidity (‘market depth’) from our LPs. Therefore we’re the sole Execution Venue for the execution of Clients’ orders.
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Using Axes as a trading platform involves several risks that traders should be aware of. While Axes markets itself as a no-dealing desk (NDD) broker, the lack of transparency regarding execution quality raises concerns about potential conflicts of interest. As the financial landscape becomes increasingly saturated with brokers, it is critical for traders to exercise caution and perform thorough evaluations before committing their funds. AXES is the sole counterparty to clients trades and any execution or orders is done in FxPro’s name. New traders may want to explore alternative brokers with stronger regulatory frameworks and proven track records.
The lack of robust regulation and the potential for hidden fees may pose axes broker risks for traders. In the event of financial difficulties, the absence of a robust regulatory framework could leave clients vulnerable, as there is no guarantee of compensation for losses. The companys communication regarding its operations and management is minimal, leaving potential clients in the dark about who is managing their investments.
As not all client positions are hedged, a residual exposure up to our market risk limit remains in house. For traders seeking safer options, consider brokers regulated by reputable authorities like the FCA or ASIC, which offer greater assurances regarding fund security and operational integrity. For those considering trading with Axes, it is crucial to weigh these risks against their trading goals and risk tolerance. The quality of order execution is critical for traders, and any signs of manipulation or inefficiencies can severely impact trading outcomes. Reviews of Axes reveal a mixed bag of experiences, with some traders praising the platform’s features while others express dissatisfaction with customer service and withdrawal processes. Axes claims to implement several measures to ensure the security of client funds, including segregating client accounts from company funds.
Company Background Investigation
Axes is a true No Dealing Desk Execution broker, meaning that we execute client orders with no dealing desk intervention. Why Axes is not an STP BrokerSTP (Straight-Through-Processing) is one of the most commonly misinterpreted terms in the trading industry. Due to the high volumes of our client’s trades, we are able to internally match a great deal of our order flow.