AXES Journal (Broker out of business)
|Journal status: |
- Full listing profile: AXES broker profile
Is AXES safe?
- Investor protection: no
- Regulation: not regulated
- Registration: FSA SVG, IFMRRC
- Publicly traded: no
- Segregated account: yes
- Guaranteed Stop Loss: no
- Negative Balance Protection: yes
Is AXES trusted?
- Information transparency: high
- Customer service: ...
- AXES website: semi-detailed, updated
- AXES popularity (by visitor count): average
How AXES works
All client trades are executed with No Dealing Desk1 intervention. Most trades are filled in under 10 milliseconds., with up to 2,000 trades executed per second.
Due to the high volumes of our client’s trades, we are able to internally match a great deal of our order flow. This allows us to minimize our risk without interfering with your orders in any way.
As not all client positions are hedged, a residual exposure up to our market risk limit remains in house. Excess exposure may be hedged externally.
Why Axes is not an STP Broker STP (Straight-Through-Processing) is one of the most commonly misinterpreted terms in the trading industry. Although it is often considered to relate to the execution that a client receives from their broker, STP is in fact a post-execution, post-trade communication process between executing counterparties with minimal impact on the speed or price of execution that a retail trader is offered. Though Axes does use STP technologies, we classify ourselves as NDD in accordance to our method of order execution.
Why Axes is not an ECN Broker ECN stands for Electronic Communication Network and is frequently confused with NDD execution. However, ECN refers to the anonymous communication between executing counterparties which may, in fact, result in no guaranteed fills and worse pricing for the retail trader. Axes is a true No Dealing Desk Execution broker, meaning that we execute client orders with no dealing desk intervention.
Axes LLC is Permitted by the FSA of SVG in 2020 to act as a financial and monetary intermediary in the conduct of financial and monetary brokerage business for the sale and purchase of currencies and intermediating in money market transactions as permitted in accordance with granted company number (338 LLC 2020) .
11.1. Although we may transmit your orders to third party liquidity providers, contractually, AXES is the sole counterparty to your trades and any execution of orders is done in our name. Therefore we're the sole Execution Venue for the execution of Clients' orders.
12.2. FXPro's compliance department and internal audit perform additional independent reviews of the above processes and provide assurance to their effectiveness.
13.2. AXES is the sole counterparty to clients trades and any execution or orders is done in FxPro's name.
9.3. d) For cTrader platform prices are obtained directly from LPs through an electronic execution system. In conjunction with price, we also quote the available liquidity ('market depth') from our LPs. Our system will automatically aggregate all available liquidity at the best prices available and fill at the Volume-Weighted Average Price (VWAP).
Model execution - AXES acts as "matched principal", which means that we match all Clients trades with our counterparty (namely AXES LLC), which may profit from Clients' losses. AXES LLC is the Clients' sole counterparty and/or execution venue.
Our counterparty AXES LLC operates under a "Non-Dealing Desk Intervention" using a hybrid model with an agency method of execution, which means we're able to internally match a great deal of our order flow. Excess exposure is hedged externally.
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