Hey Badem, yeah I’m not sure what’s going on it’s really strange - I had an old account with IC that was shut recently - it’s weird because I haven’t actually heard any news about changes to regulations or anything. No troubles with Vantage though. From my experience it’s the NZ brokers that should be banned not the Australian ones!
Is there any trustworthy regulator in NZ that oversees local brokers? Like ASIC or CySec or smth. like that… Something tells me there are too many unregulated brokers from NZ
Yeah a lot of international brokers seem to set up shop there - oh well hopefully you can keep trading with Vantage!
Yeah I hope so it took me ages to find a good broker and I don’t want to have to leave Vantage and start searching again
Hi profitbaby yeah we have the FMA but a lot of companies just ‘register’ in New Zealand and aren’t actually regulated by the FMA. You see this internationally as well with brokers ‘registering’ in the UK and claiming to be UK regulated. It’s like Badem said, lots of brokers from places like Russia and Pakistan pretending they are NZ companies.
Definitely not. When you finally find a good broker like Vantage you stick with them.
Yeah did you read this “One of the biggest forex schemes to blow up in Russia this year was related to the company Forex Trend which was registered with the FSRP.”
Amen to that. I’m not switching from Vantage unless the FMA holds a gun to my head!
Yeah I read that when I was trying to work out why IC closed my account. Still can’t find anything on recent changes to regulations … it’s really strange.
Yes Tania we should be very careful. OctaFX is a scam broker who cancels profitable traders Octafx is a big scam!! Held all my profits plus deposit!! | Forex Peace Army - Your Forex Trading Forum
Yep complete scammers. What a joke. Stick with trusted ASIC brokers like Vantage.
Yep ASIC FTW. This thread is ‘best australian forex brokers’ … Even if they weren’t scammers … Octa completely off topic.
lol they either deleted their post or were moderated - BabyPips Moderators FTW
My trading has improved ten-fold since I’ve changed to an ECN account. I’ve changed from Global Prime back to Vantage FX simply because of the cost of their ECN commissions.
GP have $7.00/RT while at Vantage FX, via my IB I have negotiated $4.60/RT! That is a huge difference between quality ASIC regulated brokers.
Whoa 4.60!? I thought 6 bucks was good - hook us up!
Please DM me.
hi, guys. Does anyone trade with FXOpen AU? It is an ASIC regulated ECN broker as well. Pls share your experience.
Hey mate - what trading group are you in if you don’t mind me asking? I’m looking to join one
How about EasyMarkets? Didn’t see them mentioned here. Was drawn to them because of negative balance protection.
Edit: Whoops, didn’t realize this was an old thread … rookie mistake
Hi guys, there’s another one. It’s called AETOS. regulated by ASIC and FCA and they don’t charge commissions. Spread is low as 0.7pip for EURUSD. Btw I teach forex let me know here if you guys interested
Just a heads up – if you’re not actually an Australian they won’t take you on as a client anymore, recently their parliament passed a law against that.
Yeah Tickmill or Hotforex I used them for 3 years, they have FCA but also heard they’re planning to get ASIC, dunno why. Anyway their Pro account is worth to try especially if you’re scalper.