Exclusive Interview with Greg Rubin, Head of Axi Select: Unveiling the Future of Capital Allocation in the Financial World
Today, we are thrilled to kickstart another series of exclusive interviews with top executives in the financial services industry, hosted by our FinanceFeeds Editor-in-Chief, Nikolai Isayev. Our next guest is none other than Greg Rubin, the mastermind behind Axi Select.
We’ll uncover the inception story of Axi Select, the challenges faced in identifying and nurturing trading talent, and the impact of their capital allocation program on the broader financial ecosystem.
Kicking off our conversation, Nikolai was curious about the new offering, Axi Select, and inquired about its nature and target audience.
Greg Rubin introduced Axi Select as an inclusive capital allocation program that differentiates itself from other offerings in the brokerage and prop firm spaces. He describes Axi Select as a program that provides top traders with up to a million dollars of funding, allowing them to retain a significant portion of the profits (90%) without the burden of registration fees. Along with funding, Axi Select supplies traders with a suite of tools including a trading room dashboard, a leaderboard, and an edge score—all designed to support and enhance the trading experience.
Greg further explains that Axi Select aims to accommodate a broad spectrum of traders, from novices to those with a solid trading background, and especially those who are undercapitalized. By offering the necessary funds, Axi Select allows these traders to continue trading as they do with other brokers but with the advantage of larger capital backing from Axi Select, thus amplifying their potential profits.
Moreover, Greg points out the unique proposition of Axi Select for traders in the capital allocation space. Unlike traditional setups where traders might lose registration fees, struggle with evaluations, or find themselves out of the program in a short period, Axi Select removes these barriers by not charging participation fees and allowing traders to use and withdraw their own funds.
For new traders, Axi Select aims to provide a supportive environment that promotes growth and learning. The program includes a trading community, professional interaction, and analytic tools to help traders identify their strengths and weaknesses. Overall, Rubin’s vision is to offer a nurturing environment that steers new traders away from common trading pitfalls, ensuring they have the support they need from the start of their trading journey.
Nikolai Isayev then asked about the motivations behind Axi’s venture into the incubation program space, questioning whether it was spurred by the growing popularity of proprietary trading or other industry trends.
Greg Rubin responded by acknowledging the rapid expansion of the proprietary trading industry over the past several years, becoming a standard mode of market participation. He credited the Axi executives with having the foresight to recognize this trend well in advance, leading them to acquire a company that would facilitate the creation of an incubation program in anticipation of the rising popularity. The new Axi Select is Axi’s refreshed response to these market trends and represents their second iteration of such a program.
Greg further explained that Axi’s foray into this space is deeply rooted in the company’s mission. With a philosophy encapsulated by the motto “Trade your edge,” Axi is dedicated to equipping traders with a competitive advantage. He pointed out that trading poses challenges, and brokers that offer tools and support can substantially enhance a trader’s probability of success.
Axi Select specifically addresses a primary obstacle faced by retail traders: inadequate capital. By providing not only funding but also educational resources, professional interaction, and analytics tools, Axi aims to offer a holistic solution to help traders thrive. Greg underscored that while success can never be guaranteed for all, Axi Select is a program that is consistent with the broker’s foundational values and objectives.
Nikolai Isayev also inquired about the distinctions between Axi Select and conventional proprietary trading programs, particularly regarding educational and support mechanisms for traders.
Greg Rubin highlighted several features that set Axi Select apart from typical prop trading offerings. One key difference is the absence of a registration fee for Axi Select, allowing traders to participate for free, although they do need to commit their own capital to their trading accounts. Unlike many prop firms that require traders to pass an evaluation process, Axi Select eliminates this step, granting immediate entry into the program once certain criteria are met.
Another distinction is the provision of three attempts for traders to meet Axi Select’s standards, which is more lenient than the single opportunity often offered elsewhere. The program also boasts more favorable trading conditions with fewer restrictions, except for a 10% drawdown limit, which is comparatively generous.
Axi Select’s program structure is designed to be long-term and holistic, aimed at helping traders build their careers rather than selling the unrealistic dream of quick riches. Rubin added that Axi Select promotes responsible trading, not gambling, and provides actual trading accounts rather than demo accounts, which are common in the industry.
Moreover, Rubin elaborated on the comprehensive suite of tools and resources that Axi Select provides to support its traders. These include a capital allocation (up to $1,000,000) with traders keeping 90% of the profits, a trading room with live videos and professional trader interaction, a performance tracking dashboard, a leaderboard for comparison among peers, and the Edge Score, which is a specially developed tool to guide traders throughout the program. He suggested that while other firms might offer some of these features, Axi Select integrates all of them, creating a more supportive environment for traders to develop their skills.
Nikolai Isayev highlighted the value of the trading room in Axi Select’s program, drawing attention to the importance of its social setting. He was also interested in understanding the development and workings of the edge score.
Greg Rubin recognized the critical importance of community and support in trading, which is provided through Axi Select’s trading room. He elaborated on the edge score, explaining that its development was intricate due to the subjective nature of trading. The score incorporates universally accepted indicators of good trading practices and uncorrelated metrics to ensure fairness. It was backtested across a vast number of accounts to accurately reflect a trader’s abilities. The score takes into account several aspects of trading: skill, consistency, risk, and experience, with experience becoming a lesser factor as the trader gains proficiency and a track record, thereby allowing the score to be a dynamic and holistic measure of a trader’s performance over time.
Nikolai Isayev’s next query centered around how Axi Select’s introduction reflects the broader aspirations and principles that Axi as a brand stands for. He wanted to delve deeper into the alignment of this new offering with the company’s foundational values beyond the already discussed features like the “trade your edge” philosophy and the innovative edge score.
Greg Rubin took this opportunity to reinforce the core ideals that Axi Select upholds, illustrating that it is much more than just a service—it’s a manifestation of the company’s identity. He explained that “trade your edge” is not just a catchy phrase but the bedrock of Axi’s raison d’être. For the Axi brand, these words represent a dedication to enabling traders to harness their individual strengths.
Rubin indicated that the enthusiasm from the branding team upon conceptualizing Axi Select was indicative of how well it resonated with the company’s mission. By integrating opportunities for growth, substantial trading capital, insightful analytics through the edge score, comprehensive educational content, and a nurturing community.
In Rubin’s view, the unique combination of these offerings under Axi Select seamlessly fits into the brand’s overarching narrative of providing value, skill development, and better trading experience. This approach differentiates Axi Select in the marketplace, firmly anchoring it within the Axi brand’s commitment to creating a trader-centric environment that is not only about making profits but also about cultivating a sustainable and fulfilling trading career for its clients.
As 2023 is drawing to a close, Nikolai Isayev was curious about what the future holds for Axi Select and any upcoming technological advancements from Axi. He asked about developments that both current and potential Axi Select traders should look forward to in the upcoming year.
Greg Rubin said that there are indeed exciting updates on the horizon. He stresses that since the launch of Axi Select in early September, the team has been keen on innovation and improvement, largely driven by trader feedback. Axi places a high value on the insights gathered from its client base and has conducted surveys to target the specific needs and preferences of traders, which is pivotal in shaping future enhancements.
Rubin hints at several advancements in the works but refrains from sharing explicit details. He suggests that Axi Select, as it will exist a year from now, will have evolved substantially, with the changes being guided by client input.
Rubin concluded the first part of our conversation by promising that traders can expect meaningful, customer-focused improvements from Axi Select as it grows and evolves.
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