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 the 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.
