Aussie Brokers?

Hi,

I am looking for an Australian broker and would like some advice please.

I currently run an EA 24/5 with a U.K broker but seem to be having problems with the connection.

I keep getting ‘trade context busy’ and ‘cant log-in’ just before entering the trades.

In searching for why this happens it seems I am not the only one suffering with these problems.

I used to live in the UK but now live in Australia and would like an account here.

I have looked at ‘Vantage’ and would like to know if anyone uses them and would recommend them?

Any other recommendations would also be appreciated!

Thanks.

Theres a few dealers operating in Australia.
I would suggest to make sure they are licensed with ASIC and that they have an AFSL.

(not in any order):
Go Markets
ForexCT
Forex.com/au for their Australian part of the website.
IBFX Australia (just opened their office on September 1st!)
Got Money
Etoro

Edit, continuation of list (also not in any particular order) Just thought I should update the list:

Kinetic Securities
Forex FS
Axi Trader
Pepperstone
IFX Australia (part of City Index Group)
FX Solutions Australia (also a City Index Australia registed company)
market plus
Apex FX Trading
Easy-Forex
IG Markets
GFT
MF Global
FXCM ( forextrading.com.au )
Interactive Brokers
Halifax Investment Services
Vantage (all comunication I have had with them has been prompt etc. Also they are no longer an authorised representative of GO Markets. They are now completely separate companies and now compeititors)

Hope this helps.
I have never had any problems with dealing with Go Markets, forexct, IBFX, GFT and Axi Trader.

Thanks for your reply. I have just opened a demo account with Vantage so I will see how they go.

Yeah, let us know how you go, I’d be interested, thanks.

They are authorised representative og Go Markets.

Go for an ECN broker if you are using EA’s… I’m using Alpha Broking they work well with my robots.

Is there are any advantage/disadvantage using overseas brokers as opposed to using a local Aussie broker?

I am planning to spend time doing trading in the evenings after work. I will be mainly watching the US/UK markets after my regular ‘9-5’ office work hrs.

Australian late afternoon and evening times coincide with US market opening hours and middle of UK market hours. Just nice.

If you are in Aus an Aussie broker is an advantage as you can contact and meet them etc… Alpha Broking uses CFH which is based in the UK so you get their time on you charts anyway. All in all i like to know who I’m dealing with and who is regulated by ASIC… I got to them through this site: www.learnforexfutures.com

Thanks for the tip.

Yes, when I start live trading in about 6 months time, I will be in Australia. Currently, I am in Singapore, and simply demo trading for now to get a feel for things.

I thought it would be good to get a demo account from a company I am going to go live with any way, to make it more realistic during this training period and when I finally switch over.

I guess the advantage of a local broker is that you can meet them etc and ensure they are properly registered with local authorities. Although, would it make any difference if I am active during hours when the local markets and offices are closed?

No diffenence about the times… they all work off servers ettc and there is useally a 24 hr help desk that you can call.

Hi , just to let you all know I have been using Vantage FX since my post in september. So far so good. My payment was put through to my account promptly and was surprised how quickly they dealt with my withdrawal requests. No problems with connection or execution of trades either. They have a good app for the Iphone too which lets you manage or make trades which is great for me.

All in all I am happy with Vantage fx.

hahaha I just replied to another thread.
I use IBFX Australia and happy with it :slight_smile:

Those are the 5 reasons why (from their newsletter):

  • Up to 400:1 Leverage - With up to 400:1 leverage you can increase your market exposure by 8 times over the default 50:1 leverage for US brokers.
  • Full Hedging - No limits & No margin used on like pairs.
  • Deep Liquidity - Proprietary multi-bank order routing system provides great pricing and execution from global bank partnerships.
  • Safety of Funds - Client funds with IBFX Australia are segregated, which means that IBFX Australia cannot use client funds for business purposes.
  • All Expert Advisors Welcome - including scalpers.

Hope it helps! :57:

FXCM australia
FXDD australia.

They look interesting, wasn’t aware of them.
Thanks for bringing it to our attention.

Any more out there?

Are you still using Vantagefx? Any issues with them? Thanks

Another broker has been brought to my attention, Pure Trade.
DMA, claiming they have zero spreads on major pairs, commision on amount traded eg $4.95 per 100 000 and $0.099 per 1000.

Another for the list:
BMFN Australia | Forex and CFD Trading | Currency Trading | Contract for Difference Trading

Yes still using vantage and can highly recommend them, no issues and good service when needed

How is their execution speed? Are there a lot of requote?

Good ,no requotes. I have had no problems

FxPro just set up office in Australia. Customer Support say they expect to go live beginning of next month