I live in Sydney and I’m about to start forex trading but not sure which online broker to use.
If you live in Australia please tell me which broker you’re using ?
Gday Mite
Cheers,
FS
i used many broker , but as a newbie i also need to learn some more about broker. so i hope your topic will help me also to find a good broker
I’m trading with hotforex, and demo in many brokers… you can tell us your requirement in trading and we can help you.
If you are a newbie, I think you should be careful of recommendations and reviews. Also, I will advice you to pick a nice ofshore brokers because regulated brokers, especially under Australian regulatory bodies are not a good choice for you. If you really want to get cheap services and quality execution, I will advice you to pick nice broker with a good track record.
Hello pal, I trade with Profiforex and I will be glad to recommend this broker at anytime. I asked this same question when I started trading and I got lots of recommendation. So, I decided to go with this broker. I enjoy very low spreads and great execution speed.
From Sydney myself and have started trading only recently.
I currently use FXCM - no complaints so far.
You generally can’t go wrong if you stick with the brokers that are well-established and also have good reviews.
Hi,
Glad to know you’re looking to get started…all brokers have an online presence, but as far as their trustworthiness goes, you’ll need to do the research.
Personally I use Tradersway, Fxcm and Alpari…but these choices are based on my trading requirements and what they offer…
In short, review independent broker review websites, check out the broker and what they have on offer, figure out what you suits you and get started with a demo…move to live shortly after that, pref micro, good luck mate.
Yes, It’s true that this broker is good in all ways, in the aspect of quick and fast withdrawal within 24hours, kinda enjoyable and I’m fine trading them.
As most of out traders here suggested of doing your own research and picking the right brokers that suit your trading style especially you are on Australia.
Check your local brokers in Sydney and Forex reviews.
Here are some large local Australian brokers.
IC Markets
Pepperstone
Axitrader
Gomarkets
Other foriegn brokers with largest share of retial penetration in Australia
IG Markets
FXCM
CMC
GFT
Yes, I agree that some foreign brokers in emerging markets have very good reputation eg Hotforex (as suggested above)
There are sites that has a list of brokers and has a corresponding review from actual Forex traders.
You cannot tell a broker if it’s a scam or not by simply visiting their website and reading through their TOS.
It is also important to know how will you trade. Some brokers do not allow scalping while others have higher initial deposit requirement.
I do not immediately believe the reviews on forums, because it could be a black campaign from their rival brokers.