Any traders here that trade Futures and/or Forex in Australia?

I am from Australia and wanting to trade again. I had some success scalping, but then I gave up after I recovered from an injury and went back to fulltime work. For Forex brokers in Australia; it is now 30:1 leverage for FX majors. I wanted to trade Fx here in Aus but finding a decent broker is like finding a needle in a haystack. I was thinking about learning to trade futures instead because of the new regulations for forex. Any feedback would be appreciated. Thanks

Hi,
You seem to be implying that Australians (“I am from Austraila”) are disadvantaged compared with other nationals in their legal choice of options when it comes to exercising your right to trade Foreign Exchange. Can you be more specific about describing your problem and what you are asking the audience for?

Thank you, but I am going to start trading Futures and Options. I was hoping Australia had brokers like AMP global or Ninjatrader for Futures trading. Nothing like that here at the moment. Forex brokers and slippage are all too common and Fx is not well regulated like the futures market. How long have you been trading for and who is your broker?

i can think of at least half a dozen other very good reasons for trading futures rather than spot forex, without even needing to use that one as an additional reason - but if you say so …

everyone i have ever known in Australia who trades futures (this is no more than 7 or 8 people in total, though) has used Ninja, AMP or Optimus, i’m pretty sure - and all three certainly have Aus-resident clients

i don’t quite understand your difficulty, sorry … :confused:

@flamingoproxy , thank you for your contributions here. I’ve read before your preference for futures and I am curious about those reasons you refer to. I have not yet even looked into trading futures, would you say more on why they’re better than spot FX? Also which futures, forex, stock indices, commodities?

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these may help (i hope!?)

i’ve only ever been employed (and/or sometimes self-employed) to trade currencies and US index futures; i know nothing about bonds, commodities, individual stocks or options - nexusfi (dot com) is where the retail futures traders hang out

any questions about forex futures and/or the S&P/Nasdaq futures i’m happy to try to answer, if i can :slight_smile:

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thanks for being so ever helpful. Folks like you are what makes this forum a gold mine.

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Pepperstone for Australia is 500:1 leverage

this is exactly as accurate and realistic as anything else you post here, in other words it’s completely wrong :worried:

Pepperstone may have some 1:500-leverage accounts available (i wouldn’t know, and nobody with functioning braincells should be using such leverage anyway), but if so they’re obviously not “for Australia” in any sense of the words, because ASIC-permitted leverage is limited to 1:30, as correctly mentioned in the original post

Did you ever start futures trading?

Hi @samewise , not yet. Funny you ask because just this week I have reduced my chart eyeballing time to gather instead as much info as I can. And I was trying to remember this thread but could not find it! Thank you.
You? are you familiar with how to get on with it?

I just keep seeing more and more traders on YT say futures is better than spot fx. Wanted to see what all the fuss was about. In my brain, trading on a centralized exchange has benefits, right? Especially with volume.