As a trader amid the proprietary trading or prop trading landscape, it's important to have a reliable partner. Many firms charge upfront fees, and if one is forced to shut down or suspend services due to increased regulatory scrutiny or pressure from bankers and their tech providers, all of that money goes out the window as well.
As a result, traders are looking for a reliable service that doesn't overcharge and will be around for the long haul. Some are finding it in Axi Select, the prop trading platform from global CFD and FX broker Axi. Since launching in mid-2023, Axi Select has seen a 40% month-over-month increase in active clients on its platforms. The company credits that growth to the way it developed its capital allocation program. It's built on its live trading account model that's been available in over 100 countries for more than 16 years, giving Axi confidence it can withstand regulatory and competitive pressures. The company believes that by giving clients a live trading account, they are more likely to find their edge. Clients are given access to all the controls of its live account holders including fast, transparent and fair-trade execution, Axi says.
Withstanding The Pressures
"Axi Select is a long-term solution to the prop trading community, and not subject to the issues now faced by prop firms who offer the demo account registration fee model and are under constant pressure from authorities and their platform providers," said Greg Rubin, Head of Axi Select. "We genuinely empathize with the thousands of talented traders who will now be denied access to their allocated funds, and we encourage anyone using the demo trading registration model to question whether their prop firm partner will be able to continue as an ongoing concern given recent events. Unfortunately, this could be the beginning of the end for the demo account prop firm model."
Beyond its approach to capital allocation, Axi Select believes it stands out from rivals thanks to an attractive funding model. The broker will allocate up to $1 million, with clients keeping 90% of their profits. Axi says it's one of the top allocation offerings worldwide. And to add to that, Axi Select doesn't charge a registration fee, although traders do have to fund their accounts with a minimum of $500 of their own funds. It doesn't hurt that all this comes from a Global award-winning broker.
Axi Select provides a platform to become a professional trader. To see for yourself click here.
Standing The Test Of Time
Like other trading prop firms, the aim is for traders to make money. After all, they are using Axi's capital to do that. Axi has created a platform that not only helps traders grow and gain knowledge but does it in a way that gives traders an edge.
That's where Edge score comes in. It’s a numerical representation that gives traders insight into their trading abilities. It uses advanced analytics to assess trading decisions and to help traders identify areas of improvement. The Edge score is also used to assess funding eligibility; the higher the score, the more funding a trader receives. The Edge score is a weighted average of three measurable components of trading – skill, risk and consistency – and then multiplied by a discount factor depending on the trader's experience. Traders are put through six progressive stages with the top end of the program offering $1M of funding of which the traders can keep 90% of the profits, and they have to prove their mettle in each stage to get access to more funds. At each stage, traders are required to invest equity. To trade on the platform, clients have to place 20 unique trades and achieve an Edge score of at least 50.
To help traders boost their scores, Axi also runs an online trading room with live analysis and learning videos from professional traders. Traders can interact with each other and share analysis/trading ideas. The dashboard is also filled with analytics, advanced stats and a leaderboard to keep engaged. The purpose of all these efforts is to assist clients in enhancing their knowledge and skills. "Axi Select aims to provide a holistic trading environment, where you can gradually build your skills, and easily track your progress. The goal is to help you naturally grow as a trader with all the right conditions, tools and resources," the company said.
Prop trading has gotten a bum rap as regulators clamp down on some of the unscrupulous players that charge upfront fees or crumble under pressure. Axi is changing that with its unique approach. To learn more about how Axi Select works click here.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. Axi acts as a principal counterparty to all positions. This content is not available to AU, NZ, EU and UK residents. For more information, refer to our Terms of Service.
Featured photo by Austin Distel on Unsplash.
This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.
