Axia Futures - did you actually fund any traders?

Discussion in 'Prop Firms' started by Peblo, Mar 22, 2020.

  1. Peblo

    Peblo

    @AXIA FUTURES
    What are your criteria for providing funding to a trader? How much capital in terms of available drawdown can you commit to a single trader?

    If I show you my trading results in simulated accounts that were traded under SMB Futures' and TopstepTrader's successfully completed trading evaluation programmes, will you provide funding to me?
     
  2. MichalTr

    MichalTr

    Man... you want someone to give you trading real money, based on sim track record ??

    I don't know how the company operates, but taking a guess - you can get "arcade". So, you put some money, let's say 10k, 25k, doesn't matter, to cover potential losses and for that you get much more buying power, better commission structure etc. So ability to earn more than it will be possible with your cash only.

    But still, based on some "normal" track record. In fact I don't think you need that record with large amount of money, it's about managing real money in real market and consistency.
     
  3. Peblo

    Peblo

    Firstly, these sim track records are good enough for SMB and TST to provide real capital, albeit very small, making it very difficult to grow it to something meaningful in less than a 100 years...

    Secondly, mate, let me break it to you - another prop firm, Positive Equity, asked me for a live track record showing at least $100k annual profit. Well, if I had that I wouldn't be begging anyone for money, right? Where is the logic in this?

    I am trying to find out if the only cash flow direction is customer -> Axia (buying their courses) or it can be the opposite: Axia (or FCT Europe) -> trader. If that is not possible, then what is the point of showing those videos of a trader making several hundred thousand USD in a day? Make poorer but better traders feel jealous because they do not have such huge risk limits?

    Let @AXIA FUTURES explain here, in public, what is possible
     
  4. AXIA FUTURES

    AXIA FUTURES Sponsor

    Hi Peblo,

    Thank you for your message

    All trainee traders that are funded with FCT Europe participate in our AXIA in-house training program. Our training program is the gateway to funding into FCT Europe Ltd. We unfortunately at this stage do not offer remote funding ( this may change in the future). After each in-house training program depending on the caliber of the trainees we select between 1-3 students who wish to join the trading team in our London premises for further evaluation. This period could be between 3-6 months and those that prove to us consistency and the right learning and development attitude will then be offered a permanent place on the team. Our selection is stringent as our space on our three floors is limited and competitive. For the very committed we offer the platform to excel but like any meritocracy environment you need to show your ability to learn and improve consistently. The level of funding is individual and discretionary and evolves over time. Some of our junior traders before they became profitable were down on account anything between $5k - $30k. This may give you an understanding on how much we willing to absorb to get a trader profitable if we believe s/he has the right ingredients. Hope this answers some of your questions.

    We have some junior traders, who have been through our training, on this forum that I will ask to contact you this week to explain their journey including their challenges to becoming profitable trader in our team. It may give you more light into the process from a trainees perspective.

    If you are based in London please contact us once the Covid-19 lock-down is over and visit our premises to meet one of our team who will show you around the floors and explain the process in more detail.

    Best regards
     
    Last edited: Mar 22, 2020
  5. Peblo

    Peblo

    This is another thing I find hard to understand. Paid training program for a few months, then evaluation on a sim account for another 6 months. All while living in London all this time.
    Each of your trainees has to spend at least £25k before he has a chance to place a live order. Then comes the desk fee and maybe a 40-50% payout. Living costs in London still continue to set a trader back.

    Does it work the same in your Wroclaw, Poland office? Living costs are like 4 times lower there.

    It is frustrating - you have to have money to make money with no one willing to help you.
     
    davistrader likes this.
  6. MichalTr

    MichalTr

    Ok. let me clarify it for you ;)

    1. Your sim track record was "enough" beacuse, you PAID for providing it, taking part in their combine. That's their deal - you pay, trade sim, if you succeed you get some small real account.

    2. You don't need to break it to me, I know exactly how it works ;). What you wrote here shows that you have no idea about that business. Answer to your question is NO, if you have 100k annual, it's still good deal (and now even better) to be in prop. You get leverage, you get good commission structure and most important you get fellows that are in business and you can learn from them (and they can learn from you). That's the deal.

    3. "Make poorer but BETTER traders" ???? You think you are better than someone who can make money in normal real markets, because you have good SIM track record ? Man, there is a lot of work for you to do.

    In fact my post was not to offend you, it was to get you think real. But from what I can read here, ic might be hard.

    You are another person that want to make it fast... It's the besty way to failure.

    I have advice for you, you can get it or not - your business. Build some real track record, even on this small account. At least 6 months- 1 year, showing consistency. And then there is a lot of opportunities to get account. When you have that track record I can even be nice and tell you where to go with that.

    btw: @AXIA FUTURES
    I have a question, out of curiosity - as you guys are part of old Futex team. Futex had that "baby" company Konterex in Poland (Wrocław). What happend to that "after Futex". Is that part of your floor now ?
     
  7. MichalTr

    MichalTr

    uuuu, you just discovered the wheel.
    That's how the world works.

    You can complain on that or get to hard work and try to do something.
    Go to normal job, save money, then try to make it.
    Or build that normal track record, even small, but for many months, and then you also have chance to get into that.

    You want good money, and you want it fast. What let you think that if it's impossible in any other business then can be possible in trading ? Trading is much harder.
     
  8. Peblo

    Peblo

    Listen - I am an experienced trader and you know nothing about me. My best day was something like $25k, the worst $55k. Sounds good? For reasons I do not want to discuss I have no risk money to trade with. THAT is frustrating.

    Besides, you contradict yourself - you admit you have to show $100k annual profit and then you say that even a track record on a small account will be enough. Make up your mind and stop f** preaching me.
     
  9. MichalTr

    MichalTr

    Simple question - if you are so experienced trader ? Why can't you show real statement and get into prop ? NO, best day 25K and worst 55K doesn't sound good. In fact - it sounds opposite.

    And I'm not asking why you don't have money - that's private. If you can't show efficient real track record, that means you are not "super" trader, as you think...

    Ok .. after last sentence - if you can't read with understanding, that means you are not even smart...

    There is nothing contradict about it. You embarising yourself. I didn't admit anything. I just wrote, that I know exactly how it works. NOT that it works like you wrote. With one company they want that kind of track record, another want something else. If you even don't know where to look, maybe it's not for you ?
     
  10. AXIA FUTURES

    AXIA FUTURES Sponsor


    Hi Peblo

    We do have opportunities in our Wroclaw Polish office and we actually offer some of our trainees the opportunity to receive potential funding. This option is generally a much more affordable option from a living standard perspective. I'm currently in our new Poland office this week as the border shutdown which has meant I'm in lock down in Poland. Peblo also to get a full understanding how we operate please view the Education Resource section https://www.elitetrader.com/et/threads/axia-futures-fct-questions-answers.340580/

    Our Proprietary futures trading industry is based purely on your performance. You perform then you will make money. It is the most challenging of pursuits as you may already know. As a firm due to so many people failing, the industry cannot support the people who don't have what it takes. What we do provide for those that show abilities, potential and aptitude is possible remuneration for helping us with other parts of the business whilst you embark on your journey to becoming profitable. Some of our trainees help with being runners for senior traders, some help with educational streams and some with IT. This hopefully alleviates some financial pressure every trader has at the beginning of their careers which in turn can affect their performance.

    The trainees that we feel have what it takes we try and support them in every way we can from backing through FCT Europe Ltd, mentoring and learning culture development.

    I know first hand how tough this game is and to the best of our abilities we try to support those that truly want it and understand the sacrifices that need to be made to be successful. We are also fortunate that our young traders are surrounded by some of the most successful futures traders that I have been around since I started back in 2004. This in turn will help accelerate their development. I fully understand your frustration but this game will test you like no other and its part of the journey of becoming a trader. You either accept the challenge or decide to find a paying job.

    I suggest you send us an email to our team and we can get someone to call you if you have more questions. I think best is to also speak to one of our trainees who have been funded. You can then determine if our path is for you or not.

    Keep on learning and keep on developing and best of luck for your career


    Kind regards
     
    Last edited: Mar 23, 2020
    #10     Mar 23, 2020
    nastazio151 and MichalTr like this.