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  • #7,381
  • Apr 7, 2022 12:44am Apr 7, 2022 12:44am
Quoting CableJ
{quote} Gold is a wild boy and their CFD has low market depth vol... Most of the complaints on their discord since Feb concerning slippage has been 99.9% XAU or news release related.
I've sent off a nice little note to support explaining the situation regarding the slippage on Gold.

I'm not expecting the best outcome but I thought why not at least ask the question.

I will update the thread as soon as I receive feedback.

Masterrmind ............
Master your Mind then Master your Trades
  • #7,382
  • Apr 7, 2022 12:45am Apr 7, 2022 12:45am
Quoting Capablanca
The Funded Trader (from Discord): {quote} What's EightCap ?
It's an Australian ASIC regulated broker located in Melbourne.

Masterrmind ...........
Master your Mind then Master your Trades
  • #7,383
  • Apr 7, 2022 1:13am Apr 7, 2022 1:13am
Quoting Masterrmind
{quote} It's an Australian ASIC regulated broker located in Melbourne. Masterrmind ...........
8Cap

As per their site.
"

Australian clients: Eightcap is a brand of Eightcap Pty Ltd (ABN 73 139 495 944) regulated by the Australian Securities and Investments Commission (AFSL 391441).


Non-Australian clients: Eightcap Global Limited, regulated by The Securities Commission of The Bahamas (SCB), (SIA-F220).

"

Masterrmind ............

Master your Mind then Master your Trades
  • #7,384
  • Apr 7, 2022 2:00am Apr 7, 2022 2:00am
Quoting Masterrmind
{quote} It's an Australian ASIC regulated broker located in Melbourne. Masterrmind ...........
Thanks. I'm not sure what does that mean, if that will be for everybody or just for Australian traders.
They were working with Nash and Purple in the past and turned recently (I think Jan or Feb) everybody into Purple.
  • #7,385
  • Apr 7, 2022 2:15am Apr 7, 2022 2:15am
Quoting Capablanca
{quote} Thanks. I'm not sure what does that mean, if that will be for everybody or just for Australian traders. They were working with Nash and Purple in the past and turned recently (I think Jan or Feb) everybody into Purple.
I haven't traded with 8Cap in the past.

Recently I joined up but am yet to make a deposit into the account.

So I have no real experience working with their platform or their support team.

Email and phone contact so far has been very good but that's all I can say.

Tread carefully, maybe deposit little then withdraw and see how smooth the process turns out.

My opinion would be that they are probably ok but not the best broker.

Masterrmind ...........
Master your Mind then Master your Trades
  • #7,386
  • Apr 7, 2022 3:20am Apr 7, 2022 3:20am
My experience at Ultra capital fund where I traded for a month and failed martingale rule.
I fail my accreditation account .I make a EUR/usd trade where I was in loss and they fail me for martingale. In less than 1 min. I saw my mistake and close trade. Too late. I believe that this kind of rule is not to help trader or investor but to collect from failed traders. If they want to help traders they could program into trading platform program which would prevent opening martingale trade.
  • #7,387
  • Apr 7, 2022 3:32am Apr 7, 2022 3:32am
Quoting Triglav
My experience at Ultra capital fund where I traded for a month and failed martingale rule. I fail my accreditation account .I make a EUR/usd trade where I was in loss and they fail me for martingale. In less than 1 min. I saw my mistake and close trade. Too late. I believe that this kind of rule is not to help trader or investor but to collect from failed traders. If they want to help traders they could program into trading platform program which would prevent opening martingale trade.

i checked and marked them with red flag, too many restriction in trading. only robot cn trade with those rules.
  • #7,388
  • Edited 5:33am Apr 7, 2022 5:21am | Edited 5:33am
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
  • #7,389
  • Apr 7, 2022 5:46am Apr 7, 2022 5:46am
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
Firms fund are new gold eggs. Its a win-win for owner.

1) Challenges money is used for fund firm real account. As they limit how much you can loss ( ftmo was 10% in one day if I'm not wrong ), then they never risk profits earned
2) They get commission of funded traders
3) And best thing. They can copy trades of their best traders without they know getting 100% of generated profit

I wonder why I didn't think about this business before

PS: My plan is only to be a few months until I have big balance and can trade myself.
Try don't lose pants never...
  • #7,390
  • Edited 6:26am Apr 7, 2022 6:10am | Edited 6:26am
Quoting braintheboss
{quote} Firms fund are new gold eggs. Its a win-win for owner. 1) Challenges money is used for fund firm real account. As they limit how much you can loss ( ftmo was 10% in one day if I'm not wrong ), then they never risk profits earned 2) They get commission of funded traders 3) And best thing. They can copy trades of their best traders without they know getting 100% of generated profit I wonder why I didn't think about this business before PS: My plan is only to be a few months until I have big balance and can trade myself.

Agree. It is some kind of a lottery system, here you have only higher chance to get the fund.

For your point 4. Brokers can do that too, so no way to escape from that I think.

I saw possibilities mainly in oil and gold but did not trade them in my first days, now my ideas are gone Need one to good trades than to go all- in
  • #7,391
  • Apr 7, 2022 6:26am Apr 7, 2022 6:26am
Quoting Eren10
{quote} Agree. It is some kind of a lottery system, here you have only higher chance to get the fund. For your point 4. Brokers can do that too, so no way to escape from that I think.
It is an interesting business model and long may it continue. I really hope more "brokers" get on board and see the potential without just wanting to rip people off, that would starve the fly by night white lable scammers we are seeing at the minute.

I've just about closed all my personal accounts now and exclusively looking to trade funded accounts. 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.
  • #7,392
  • Edited 7:57am Apr 7, 2022 6:34am | Edited 7:57am
Has anyone got any experience of this?

EDIT: THIS IS A SCAM - DO NOT GO THERE - Confirmed by AXI Group and reported to them!

https://axifundings.com/

Attached Image (click to enlarge)
Click to Enlarge Name: axi1.png Size: 71 KB

Attached Image (click to enlarge)
Click to Enlarge Name: axi2.png Size: 51 KB
  • #7,393
  • Apr 7, 2022 6:44am Apr 7, 2022 6:44am
Quoting Fagin
{quote} It is an interesting business model and long may it continue. I really hope more "brokers" get on board and see the potential without just wanting to rip people off, that would starve the fly by night white lable scammers we are seeing at the minute. I've just about closed all my personal accounts now and exclusively looking to trade funded accounts. 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.

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.
  • #7,394
  • Apr 7, 2022 6:51am Apr 7, 2022 6:51am
Quoting Fagin
Has anyone got any experience of this? https://axifundings.com/ {image} {image}
Looks great for the higher account sizes. What are the spreads, can someone post a screenshot please ? What are commissions ?
Any hidden rules ? Constant lot sizes or minimum holding times e.g. ? Thanks.
  • #7,395
  • Apr 7, 2022 7:00am Apr 7, 2022 7:00am
Quoting TrAndy1
{quote} Looks great for the higher account sizes. What are the spreads, can someone post a screenshot please ? What are commissions ? Any hidden rules ? Constant lot sizes or minimum holding times e.g. ? Thanks.
I don't know anything yet apart from what I've found on the website, there isn't enough detail on there regarding DD calculations. I'll email them and try to get full T&Cs..

Even better if someone already trades with them can fill us in...
  • #7,396
  • Apr 7, 2022 7:05am Apr 7, 2022 7:05am
Quoting Fagin
Has anyone got any experience of this? https://axifundings.com/ {image} {image}
If this is the same company as axitrader psyquation, then you have just uncovered the golden goose. Legit broker, been around for years, real funding, live accounts. It says on their site formerly know as axi trader, but ever since Traders Central created a my forex funds domain, I really don't trust anyone.
If profitfarmer could weigh in, that would be great. He has been doing psyquation for some time.
I would have done psyquation long ago but being in the land of the free (good 'ole USA) we cannot trade with long standing, regulated brokers that protect your funds. We can only trade with the scams regulated by CFTC or the unregulated offshores.
  • #7,397
  • Apr 7, 2022 7:08am Apr 7, 2022 7:08am
Quoting Fagin
{quote} I don't know anything yet apart from what I've found on the website, there isn't enough detail on there regarding DD calculations. I'll email them and try to get full T&Cs.. Even better if someone already trades with them can fill us in...
Let me know please what they answer to you. I am excited. Thank you.
  • #7,398
  • Apr 7, 2022 7:08am Apr 7, 2022 7:08am
Quoting Fagin
{quote} I don't know anything yet apart from what I've found on the website, there isn't enough detail on there regarding DD calculations. I'll email them and try to get full T&Cs.. Even better if someone already trades with them can fill us in...
Just filled out the account application and it looks suspicious, country selection is in French and UK is missing...

Could be a scam site?!
  • #7,399
  • Apr 7, 2022 7:11am Apr 7, 2022 7:11am
Just a very basic search on their address


https://suite.endole.co.uk/explorer/postcode/ec3a-1at
  • #7,400
  • Apr 7, 2022 7:19am Apr 7, 2022 7:19am
Quoting pipmaster77
Just a very basic search on their address https://suite.endole.co.uk/explorer/postcode/ec3a-1at
It does appear legit and everything points to AXI but the site seems a bit off, maybe because it is new?

I've email AXI direct to ask them to confirm if it is part of the group and their site. I can't find an owner to the domain.

Although if it sounds to good to be true, then....
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