Qualification and progression through the Axi Select program is measured using the Edge Score, which is based on your actual trading performance.
To qualify for the Axi Select programme, new traders need to meet two criteria:
- They need to place a minimum of 20 unique closed trades, excluding hedged positions, in their Axi Select account to achieve an Edge score, and
- They must have $500 USD deposited into their Axi Select account.
Existing Axi traders can also qualify for participation in the programme by having at least one Axi account with an Edge Score of 50 or more. If your Edge score is less than 50 after placing 20 trades, you can continue trading until you achieve the required score.
Once your account meets all qualifying requirements, a separate “allocation” account will be created.
Please refer to the video below on how to qualify for the Axi Select programme.
What is the Edge Score?
The Edge score is an advanced scoring system developed by Axi to assess the performance of our traders. It uses a sophisticated algorithm and considers various factors related to your trading activity. The combination of these four factors gives us the Edge score, a comprehensive overview of your trading performance, allowing us to assess and nurture talent in the Axi Select programme.
The four factors used to calculate the Edge Score are:
- Skill: Measures your ability to generate profits whilst managing drawdowns.
- Risk: Measures your ability to manage risk effectively.
- Consistency: Measures your ability to produce consistent gains and demonstrate an understanding of market dynamics. Traders who consistently generate steady profits will score highly.
- Experience: Experience assesses whether you meet the minimum criteria for displaying credible trading experience. This component of the score works as a discount factor, which rewards traders who have a longer and positive track record by applying a smaller score reduction.
We also reward traders for experience in the market which factors in the number of trades placed and the traders' ability to show consecutive days of positive PNL in their account.
The Edge score serves a dual purpose within the Axi Select programme:
- To assess your trading performance for progression in the programme, and
- To assist you on your trading journey.
By leveraging the score and its various components, you can analyse areas of improvement and gain valuable insights as to how to enhance your skills as a trader*.
To access your Edge score, simply login to your Axi Client portal and navigate to the "Axi Select" section in the Tools menu. There, you'll find a button labelled "Go to your Dashboard," which will display your score.
Please Note: Your Edge score will also appear in the top right corner of your Client Portal when you are logged in. However, please note that for a more precise score, refer to the value displayed within of the Dashboard.
* A comprehensive list can be found on our website, providing detailed insights for improvement based on scores.
What is an Allocation account?
The allocation account is where any funds provided by Axi will be deposited. Essentially, an Allocation Account is an Axi-funded account that allows traders to copy the trades they place in their Axi Select account based on a multiplier once you enter the Seed stage.
This mechanism enables traders to earn a monthly performance fee, which constitutes a portion of the profit generated from copied trades on the Axi Select Allocation Account. The performance fee is credited to the Axi Select trading account at the start of each month, reflecting the previous month's performance.
Withdrawal directly from the Allocation Account is not permitted.
The amount of funding that will be allocated and the multiplier available will depend on how far you have progressed through the program.
I have already made more than 20 trades, but I still do not qualify for the programme. Why is that?
To qualify for the Seed stage, a trader needs to place at least 20 unique trades and achieve an Edge Score of at least 50. Each trade is counted as unique once it has been opened and closed, without any other trades for that symbol being open at the same time.
Hedged trades are not considered unique trades.
Example 1: opening and closing a 0.01 lot of XAUUSD counts as 1 unique trade.
Example 2: Opening 5 trades of 0.01 lots of XAUUSD, and then closing them all collectively, would be considered as 1 unique trade.
Please watch this video to learn more about Unique Trade.