Axi Select Propels Growth Amid Challenges – Surge in Traders

Axi Select, defying industry challenges, reports a 40% surge in traders. Live trading and robust solutions ensure sustained success.

Home » Axi Select Propels Growth Amid Challenges – Surge in Traders

Axi Select has reported a significant 40% month-over-month surge in active traders. This surge in user activity comes amid heightened scrutiny within the proprietary trading industry, prompted by an alleged crackdown by MetaQuotes, the developer of popular MetaTrader platforms.

Unlike many proprietary trading firms that primarily offer demo trading environments, Axi Select distinguishes itself by providing live trading experiences to its prop trading clients. Greg Rubin, Head of Axi Select, expressed concerns about the sustainability of the demo account prop firm model, suggesting that recent events may mark the beginning of its decline.

The conventional prop trading model relies on demo accounts for risk management and trading signals, often resulting in challenges with real market positions and delayed payouts. Over the past two weeks, the vulnerability of many prop trading firms became evident as several had to suspend services or restrict offerings due to issues with their brokerage partners. Some of these disruptions were attributed to the purported MetaQuotes crackdown.

Axi Select Propels Growth Amid Challenges – Surge in Traders

In anticipation of potential challenges, Axis Select implemented a capital allocation program based on a live trading account model, which has been available in over 100 countries for more than 16 years. According to Rubin, this approach positions Axi Select as a long-term solution for the prop trading community, avoiding the regulatory and technological pressures faced by firms relying on the demo account registration fee model.

Axi launched its prop trading services in September, offering traders up to a 90% profit split. While holding licenses in reputable jurisdictions like Australia and the United Kingdom, Axis provides prop trading services under its St Vincent and the Grenadines-incorporated entity.

Axi is the first established broker to introduce prop trading services, with OANDA and Hentec Markets following suit. Notably, these brokers also offer prop trading services through their offshore entities. OANDA clarified that it treats its prop trading customers as signal providers, emphasizing their commitment to maintaining controls comparable to live accounts.

Rajesh Yohannan, Group CEO of Axi, affirmed that the Axi Select account incorporates the same controls provided to live account holders globally, reinforcing the platform’s stability and resilience in the evolving landscape of proprietary trading.

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