“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.”
Axi Select, known for its substantial capital allocation program offering up to $1 million in funding per trader, is actively seeking new talent at a pivotal moment for the prop trading industry, which is currently navigating through a series of challenges.
The prop trading space in the United States is facing pressure from brokers and technology providers, leading to the closure or suspension of operations for numerous demo account-based prop firms. This crackdown has created a void, leaving many skilled traders in search of stable and reliable platforms to continue their trading activities.
Traders fund their own accounts on Axi Select
Axi Select’s recruitment drive is not just a bid to expand its roster of traders but also an effort to provide a viable alternative for those affected by the recent industry shakeup. Unlike traditional prop firms that rely on demo accounts and registration fees, Axi Select provides traders with real trading accounts, allowing them to manage up to $1 million in funds.
Traders participating in the Axi Select program can retain up to 90% of their profits, a competitive share that underscores the program’s commitment to its traders’ success. The program does not require a registration fee and traders fund their own accounts, with the flexibility to withdraw their funds and profits at any time.
Axi, the parent company of Axi Select, is a globally recognized online FX and CFD trading company, serving ambitious traders across over 100 countries. It supports a wide range of trading activities, offering CFDs on various asset classes, including forex, shares, and commodities.
Demo model under constant pressure from regulators
Greg Rubin, Head of Axi Select, stated “In the last week the prop trading industry has been turned on its head completely with multiple firms having to suspend their services due to external pressures. We foresaw this, which is why we’ve developed a capital allocation program which is built on our live trading account model and has been available in over 100 countries for more than 16 years. This has given us the confidence that 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 regulators and their tech partners.”
“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.”
A few months ago FinanceFeeds spoke with Axi Select’s Greg Rubin about the impact of their capital allocation program on the broader financial ecosystem. The interview can be read and watched here.
“Make money from your own live account as well as the funded proportion”
Rajesh Yohannan, Group CEO of Axi, commented: “We believe passionately that Axi Select is the best allocation program globally. By using a live trading account, with real money and the emotions that accompany this, we believe you are more likely to be profitable in the longer term and make money from your own live account as well as the funded proportion. Our Axi Select account has all the controls we offer to our live account holders globally. This includes access to our award-winning fast, transparent, and fair-trade execution.”
“If you are a talented trader and are looking for a legitimate funding program which is designed to truly help you succeed and profit from the financial markets, and you want the stability of an account model which has been in the market for 16 years, then Axi Select is the place for you to find your Edge.”
