Prop Firm Hub | Page 371 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone trading with a Prop firm 31 replies

So I accepted a Prop Trading job in South Beach Miami 44 replies

prop firm new model - my trading journey 871 replies

Attachments: Prop Firm Hub
Exit Attachments

Prop Firm Hub

  • #7,401
  • Apr 7, 2022 7:26am Apr 7, 2022 7:26am
Quoting Fagin
{quote} Just filled out the account application and it looks suspicious, country selection is in French and UK is missing... Could be a scam site?!
I think I will chat with axi and they should confirm immediately if this is part of the same company. My gut is screaming scam. Take a big broker name, change the name a bit and create a website.
  • #7,402
  • Apr 7, 2022 7:27am Apr 7, 2022 7:27am
Quoting Eren10
{quote} If you can pass the test than this is good. I read that there is also an option to insure your trade. They insure it by hedging it using options I read, I do not know what the cost of this is.
I don't think they are that sophisticated!

Interesting detail is why do they charge commissions on what is effectively their own account?
They just hedge every trade automomously with no commission costs to themselves, if it loses so what? If the trade wins, hey we'll take that round trip thank you very much, add it to your fee....tax write off, genius.
  • #7,403
  • Apr 7, 2022 7:44am Apr 7, 2022 7:44am
nothing official, just a chat rep, but........

are you aware of axifundings.com
Martina
We have no information regarding this Sir, therefore please rely only on our official channels
As Axi does not cover US area at all
  • #7,404
  • Apr 7, 2022 7:45am Apr 7, 2022 7:45am
Quoting Fagin
{quote} I don't think they are that sophisticated! Interesting detail is why do they charge commissions on what is effectively their own account? They just hedge every trade automomously with no commission costs to themselves, if it loses so what? If the trade wins, hey we'll take that round trip thank you very much, add it to your fee....tax write off, genius.

The insurance is for real accounts not related to prop trading. I do not know if there are many brokers that are offering this service, cost of this is very important but I don't know how much the cost is.
  • #7,405
  • Apr 7, 2022 7:49am Apr 7, 2022 7:49am
Quoting pipmaster77
nothing official, just a chat rep, but........ are you aware of axifundings.com Martina We have no information regarding this Sir, therefore please rely only on our official channels As Axi does not cover US area at all
I think it is a very sophisticated scam, it's part French or French Canadian with some links that have been missed. Even though it's supposed to be UK English?
  • #7,406
  • Apr 7, 2022 7:51am Apr 7, 2022 7:51am
Quoting Eren10
{quote} The insurance is for real accounts not related to prop trading. I do not know if there are many brokers that are offering this service, cost of this is very important but I don't know how much the cost is.
No they don't offer insurance (if it is a real account) and if you think you need it, don't trade, get more experience. Takes years..
  • #7,407
  • Apr 7, 2022 7:55am Apr 7, 2022 7:55am
Quoting Fagin
Has anyone got any experience of this? EDIT: POSSIBLE SCAM - Looking into it.. https://axifundings.com/ {image} {image}
THIS IS INDEED A SCAM SITE DO NOT USE IT - Confirmed by AXI
  • #7,408
  • Apr 7, 2022 7:57am Apr 7, 2022 7:57am
Quoting Fagin
{quote} I think it is a very sophisticated scam, it's part French or French Canadian with some links that have been missed. Even though it's supposed to be UK English?
Well the real axi is now aware of it. If it is legit, I'm in immediately, but I have exactly ZERO confidence that it is.
  • #7,409
  • Apr 7, 2022 7:58am Apr 7, 2022 7:58am
Quoting Fagin
{quote} THIS IS INDEED A SCAM SITE DO NOT USE IT - Confirmed by AXI
You are a faster investigator than I sir.

DAMN......I had this small glimmer of hope inside lol

Have to admit...that one is pretty sophisticated, a lot of stuff such as awards the manchester sponsorship.......copied directly from axi site.
  • #7,410
  • Apr 7, 2022 7:58am Apr 7, 2022 7:58am
Quoting pipmaster77
nothing official, just a chat rep, but........ are you aware of axifundings.com Martina We have no information regarding this Sir, therefore please rely only on our official channels As Axi does not cover US area at all
Wow! That one was a good one wasn't it? Bastards.

Just spoken to AXI group and confirmed it's not them..
  • #7,411
  • Apr 7, 2022 8:00am Apr 7, 2022 8:00am
Quoting TrAndy1
{quote} Let me know please what they answer to you. I am excited. Thank you.
Sorry to get you excited, it's a very, very good scam... (but not good enough!).
  • #7,412
  • Apr 7, 2022 8:16am Apr 7, 2022 8:16am
Regarding Axi, I may have missed something, but I would not say that they are automatically a scam just because of the name, unless they are claiming to be associated with the original group. That being said, they are allowing 25% draw-down on a 400K account, which is certainly a red flag.
  • #7,413
  • Apr 7, 2022 8:22am Apr 7, 2022 8:22am
Quoting Nsak3y
Regarding Axi, I may have missed something, but I would not say that they are automatically a scam just because of the name, unless they are claiming to be associated with the original group. That being said, they are allowing 25% draw-down on a 400K account, which is certainly a red flag.
axifundings.com is a fake / spoof site an not part of AXI Group. They are pretending to be them and are not them, using their links and registration details etc.
  • #7,414
  • Apr 7, 2022 8:23am Apr 7, 2022 8:23am
Quoting Fagin
{quote} No they don't offer insurance (if it is a real account) and if you think you need it, don't trade, get more experience. Takes years..

I was just given a tip for the ones who have enough funding, I read this also yesterday on this forum.

I find the test for the funding not that easy, 100% in one month.
  • #7,415
  • Apr 7, 2022 8:29am Apr 7, 2022 8:29am
Scam found! Beware: www.axifundings.com


Client Service Team (Axi)
Apr 7, 2022, 21:19 GMT+8
Dear client,

Please kindly be advised that this website is not Axi's official website, it is scammer website.

Please be careful, that website has no connection to Axi.

We appreciate you reporting this to us.

If you have any questions or queries, please do not hesitate to contact us.
Kind regards,
Ivanna

Axi Client Services
Australia: 1300 888 936
Int: +61 2 9965 5830
UK: +44 203 544 9646
e [email protected] | w https://www.axi.com
  • #7,416
  • Apr 7, 2022 8:29am Apr 7, 2022 8:29am
Quoting Nsak3y
Regarding Axi, I may have missed something, but I would not say that they are automatically a scam just because of the name, unless they are claiming to be associated with the original group. That being said, they are allowing 25% draw-down on a 400K account, which is certainly a red flag.
I noticed they weren't allowing US citizens which is in line with the real Axi but they ARE claiming association with the real AXI, look at their about us page. What a scam.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 221 KB
  • #7,417
  • Apr 7, 2022 8:40am Apr 7, 2022 8:40am
Quoting Eren10
{quote} I was just given a tip for the ones who have enough funding, I read this also yesterday on this forum. I find the test for the funding not that easy, 100% in one month.
No it is not easy and they are designed to make you fail even if you have a decent strategy and are professional. Some days you just have bad runs, nothing you can do about it. If you get a dull string of trades you lose.

IF you can afford to lose the cost of a challenge and have a very solid method/routine to trade with the account and keep it forever after you have passed then it's worth it. If not don't waste your money and believe in the hype... passing these challenges is just the start. It's a grind.
  • #7,418
  • Apr 7, 2022 9:50am Apr 7, 2022 9:50am
Quoting Fagin
We do need more than MFF though and while FTMO have this silly news rule I can't risk it with them, so currently I am exposed only to MFF, which is a concern.
I'm sure you know that FTMO has a swing account allowing trading news. You can't get around with just 1:30 leverage ?
This is honest question, I'm usually only around 1:5, sometimes more (but not much more), sometimes less. That depends very much on the trading style, of course.
  • #7,419
  • Apr 7, 2022 9:59am Apr 7, 2022 9:59am
Quoting Eren10
I think that only 1 of 100 participants succeed in this challenges. Maybe the ratio is even much lower. Let’s say for 100 k account. You have to pay 500. So they collect 50000. And the succeeded one gets 10000 account in reality. If that trader remains strong than that 10 k could also deliver them money. But I think they count a large percentage of it as loss
Difficult to say because there aren't audited stats but relying on MFF February stats it seems 31% pass phase 1 and 14% second phase. In
December phase 1 was aprox the same but phase 2 was 18%. So, if this is true only about 4.5% to 5.5% get to funded.
Then only 4% of new funded get to a profit split in the first month.

Why does phase 2 has a lower pass rate ? Target is more than 2x the stop loss and there's more time...
  • #7,420
  • Apr 7, 2022 10:07am Apr 7, 2022 10:07am
Quoting braintheboss
3) And best thing. They can copy trades of their best traders without they know getting 100% of generated profit
That's the biggest challenge because a business model based on subscriptions fees to pay profits can be ruined by a couple of successful traders.
Algorithms that separate the lucky trader from the winning trader is paramount in this business. Small and incumbent props have a more difficult life . They have much less data to work on and outliers can be a problem.
FTMO or MFF are now sitting in a huge pile of data which makes their life easier.
69 traders viewing now