Wednesday, November 15, 2023

AxiTrader Review 2023 - Dishonest Broker Using Erroneous External Price to Their Advantage

(UPDATED) 24 November 2023 

I first contacted Axi(www.axi.com) via email on 14 November about the erroneous external price adjustments which happened on 13 November. Their promise is that they will "get back with a reply within maximum 24 hours". They did respond to me but with a reply that did not address my queries. I then replied them, and also called in, and also chatted with an agent via live chat. Live chat and call agent said they would get Prince, the agent who replied my email, to get back to me. I did not receive any replies or responses at all until I received an email on 23 November. That's definitely way more than 24 hours.

I had basically asked for my open trades to be reinstated or for a portion of my balance to be returned to me because had the error not occurred, my open trades even with a floating P/L of -$70000 would still be open, and the market had moved according to what I was waiting for (XAUUSD to go up) right after, and hence, I would have recovered a huge chunk of my equity (probably 50-60k by 17 Nov).

This is what they sent me : "We were also advised that we can no longer reinstate the trades, days after the adjustments have been made as significant market movement have already taken place after the CPI release."

WOW, of course, you took 8 days to reply me, AFTER the CPI release, and say this.