hey guys, can you please share here your experience with Australian brokers? see if we can find one which ticks all the boxes…
As I’ve been saying in some of the other threads, the Australian regulation can be trusted and is on par with the UK’s FCA in my opinion.
Any of the Australian brokers that runs an ECN account you shouldn’t have any problems with. Do some research and let me know what you come up with yourself 
hey mate, I did my home work here and compared few Australian brokers…I was tossing between Pepperstone, ICM and Vantage FX…they are all regulated by ASIC offer MT4 and very competitive spreads on FOREX so based on those metrics you would see that they are all on the same level…I have decided to go with Vantage FX because they offered me Smart Trader Tools package for MT4 and free access to News Terminal which make the overall deal touch better…have you checked any Australian brokers??
Vantage FX are a good choice. My trading group and I trade with them and have never had a problem.
Hi mate, do you guys trade manually or do you use some EA??
hey, to those who has vantage, i just opened an account with them, how good are there tools? reliable or not? thanks
Hi, are you referring to Smart Trader Tools and News Terminal??
the smart trader… i opened an account and received 2 emails. 1 with my account info 2 with the smart tools. ive tried using my own EA that i had from a currency class i was in, the mt4 platform rejected it. so now i was wondering if vantage has tools that are not rigged.
If you want to work with an Australian broker watch out for Brokers500 (Market City International SRL). ASIC recently issued a warning against them for lying that they’re licensed in Australia. The license number cited on Brokers500’s website belongs to Market City, part of Perth Market Authority which is based in Western Australia. However, the company is not associated in any way to Market City International, or Brokers500.
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Did you try to install Smart Trader Tools on your MT4?? As far as I know Smart Trader Tools itself are EA which works on your MT4. Just keep in mind that Smart Trader Tools package is for manual trading.
no i did not as of yet, i had my own EA from a different company i had for years, it worked on a demo but when i managed to open an offshore broker and live account it was quickly rejected when implemented. what it does is it closes trades while i am out. but i would take a look at other EA’s from vantage hopefully it works just as good and not at the benefit of the broker. thanks
definitely check Smart Trader tools package and try again to get your EA up and running on Vantage FX MT4. Hopefully it will work for you this time…
I have never heard about Brokers500 but I have quickly checked their website and noticed that they don’t even mention their ASIC license number. Thanks for letting traders here know about Brokers500 scam.
Hey Phil,
I’m interested in hearing more about your EA. So often online you hear stories of EAs working on a demo but then not when you transfer it to live. Is this simply because you’re trying to scalp a few pips here and there?
I am a slightly longer term trader myself and would love to hear why technically it might not work as an automated EA?
Did you get it running at Vantage FX in the end? I’m always interested to hear how the Australian brokers compare.
hey guys!!
I am considering account opening with Australian FX broker. Looks like Vantage FX has decent presence in this thread. what trading strategy do you use with Vantage FX?
Chaps, after participating in a trading comp currently run by Vantage I would say their data feed is crap, therefore access to liquidity is questionable. If you are looking at long term then it shouldn’t be much of an issue. But if your “scalping”, low-frequency trading or interday/day trading I reckon there is far superior out there.
Go IC Markets all the way.
Hi mate,
I skiped demo experience with any broker I have ever traded. You don’t trade the live market on demo server so whats the point to test something which is not real. I have been with Vantage FX for few months and made some money there and so far I don’t have any complaints so i guess I will stick around for while.
IC Markets - couple of my trading buddies used to trade with with this brokerage. Unfortunately for IC Markets they also knew how to measure slippage and the results I have seen were terrible. Almost every single trade was hit with negative slippage (no news trading). IC markets shows amazing spreads but if you dig a little bit deeper you will see the scam they run. Inbuilt slippage on MT4 which inflates your trading costs.
How else do you think IC offer spreads so much tighter than their competition. What, you think if you are a big hitter that they are going to actually give you those numbers? No, they will slip you and give you a real ECN price.
:58: Say no to IC Markets all the way.
Slippage is a bum and few will understand just how damaging slippage can be. But I do. And I also understand it’s easy to blame slippage instead of accepting responsibility for one’s “poor” trade decisions. I trade down on ticks bro with MT4. In my experience, I’m more likely to actually get a point or 2 positive slippage under normal market conditions. Don’t worry but, I’ve also been hit with 20+ points negative. Slippage is, unfortunately, a self-fulfilling prophecy. When trading down at this level you want the market to have a bit of volatility. Unfortunately, when this occurs the price we see on our charts is long gone by the time we place our trade. Timing is everything. We alone are responsible for when we decide to enter a trade.
I also have a relationship with a prop firm who trade with IC Markets. By using them as my IB I get 25% off my commissions. Also, means I have a different server to log into. So there is every chance I have a different data feed to many. Corner-store retail brokers have different servers for different books. ECN or not.
But as you rightly said, these things can not be determined on a demo account. Only by trading live can one evaluate if a brokers offering is suited to the individuals needs. But not everyone has the $1000’s needed to open accounts with various brokers, so sometimes demo is the best one has.
Now, if I was a broker, and I was running a comp to market my firm, I would ensure the entrants had access to the best data feed possible. IF the data feed to the comp server is the best Vantage has got then not impressed. Way too unstable, way too filtered.
And they apply other marketing methods, like offering these “smart” tools. Only one smart tool any of us needs and that sits on our shoulders.
…and some are more pretty than others, am I right? :18:
I wanted to put my 2c in about Vantage FX/IC/ASIC regulated brokers and say that there isn’t really any difference between any of the major players.
None are unregulated market makers and none are setting out to screw you. We will all have our individual reasons for selecting one broker over another so anyone else reading this, just download demos of them all, speak to someone at the company about your specific trading strategy and then trade with who suits you.
Simple.