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Author Topic: FIXI Markets UK+FCA (owned by AxiTrader) goes bust!  (Read 893 times)

Offline jwatts7701

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FIXI Markets UK+FCA (owned by AxiTrader) goes bust!
« on: January 11, 2019, 04:12:10 PM »
It appears that another one bites the dust. It has been a bad time for some of the big boys. The saying goes that the bigger they are the harder they fall! This was one was under FCA license and owned by Axitrader.

You can read the message on their websites>

https://www.fiximarkets.com/
https://www.fixi.com/

You can read about the Axi connection here: https://www.leaprate.com/forex/institutional/exclusive-institutional-fx-broker-fixi-plc-posts-2-million-loss-2017-plans-retail-expansion/

According to that article they lost $2 million dollars in 2017. You think that would have been enough to get the hint to just stop. But I looks like not.

The scary part is that the people involved have just moved on to start other brokers. Some went to GKFX. The CEO (Jason Gibson) according to this article went and started 888markets.com https://www.leaprate.com/forex/executives/fixi-ceo-jason-gibson-departs-sets-up-888markets-com/

The mentality seems to have been like this>>> roll the dice on one broker. If we strike it big and get rich then great! If not, and things seem to be going south, not our problem, we will just open and rebrand something new. Sad.

You can see on the article that FIXI operated four divisions:

FIXI Markets, which will appeal mainly to Retail FX traders
FIXI Select, which will work with traders aiming to become professional traders
FIXI eFX, for institutional and corporate clients with direct access to liquidity, and
FIXI Partners, a white label and introducing broker solution.

 

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