Proprietary
trading firm Axe Trader announced an immediate suspension of all trading
operations following what it described as serious health complications, reportedly
including a heart attack, affecting its founder and CEO, Rick Knight, known in the trading
community as “Uncle Rick.”
Axe Trader Halts
Operations After CEO’s Cardiac Emergency
The
suspension comes after the CEO reportedly suffered a heart attack requiring
multiple cardiac surgeries, forcing the company’s leadership to make the decision
to pause all trading activities.
“All
accounts will be paused exactly where they are. No progress will be lost, and
we will ensure everything resumes seamlessly when we return,” the company
commented on its Discord channel last week.
However, the
firm has not provided a specific timeline for resuming operations, indicating
that the duration will depend on their CEO’s recovery.
The
company’s management team has assured clients that they continue to monitor
market developments and are working to maintain platform integrity during the
suspension. Trading activity remains halted across all accounts as of December
17.
“We
recommend refraining from executing trades during this time,” the company
commented in a separate update.
According
to the company’s LinkedIn profile, since its founding in December 2022, Axe
Trader has expanded its workforce to about a dozen employees. However, some
clients find it concerning that the firm is suspending operations solely due to
one individual’s health issues, even if that person is the most important
figure in the organization.
Not long
ago, the company announced that it was adding
MetaQuotes platforms to its offering, including both MetaTrader 4 and
MetaTrader 5.
Proprietary
trading firm Axe Trader announced an immediate suspension of all trading
operations following what it described as serious health complications, reportedly
including a heart attack, affecting its founder and CEO, Rick Knight, known in the trading
community as “Uncle Rick.”
Axe Trader Halts
Operations After CEO’s Cardiac Emergency
The
suspension comes after the CEO reportedly suffered a heart attack requiring
multiple cardiac surgeries, forcing the company’s leadership to make the decision
to pause all trading activities.
“All
accounts will be paused exactly where they are. No progress will be lost, and
we will ensure everything resumes seamlessly when we return,” the company
commented on its Discord channel last week.
However, the
firm has not provided a specific timeline for resuming operations, indicating
that the duration will depend on their CEO’s recovery.
The
company’s management team has assured clients that they continue to monitor
market developments and are working to maintain platform integrity during the
suspension. Trading activity remains halted across all accounts as of December
17.
“We
recommend refraining from executing trades during this time,” the company
commented in a separate update.
According
to the company’s LinkedIn profile, since its founding in December 2022, Axe
Trader has expanded its workforce to about a dozen employees. However, some
clients find it concerning that the firm is suspending operations solely due to
one individual’s health issues, even if that person is the most important
figure in the organization.
Not long
ago, the company announced that it was adding
MetaQuotes platforms to its offering, including both MetaTrader 4 and
MetaTrader 5.
This post is originally published on FINANCEMAGNATES.
