Looking for a legitimate non-scam broker (Australia)

[Trendswithbenefits]

@Synotaxidae This must be a nightmare for NZ traders…NZ should be allowed to use Australia’s Brokers…Something going on… I think this whole market is about to go through an upheaval…Hopefully a good thing…

I don’t use FxPro Live, only as a Demo for backtesting in Calgo, they appear to have wider spreads than IC and Pepperstone… but a huge range of Instruments to trade…

Wide spreads…maybe just to clients outside of the UK. I use XM (UK) via MT4.

Clint has put together a list of Brokers and reviews that maybe applicable to the NZ situation. The US citizens are having a similar problem finding Brokers that they can use. Just be very careful who you do go Live with…

Going offshore to escape the CFTC

OFFSHORE FOREX BROKERS Saturday, June 1, 2024 This is our 14th Year on the Babypips Forum Here is an updated list of the offshore brokers vetted so far in this thread, and the results of our inquiry into whether these brokers will open new accounts for U.S. residents, given the current regulatory regime imposed by the CFTC on retail forex trading in the United States. Definition — Offshore Forex Broker A retail forex broker domiciled in a jurisdiction outside the U.S., not subject to …

Hope this is of some help…

Edit: I notice that FXCM (Aust.) are constantly advertising for Asian account managers, so It’s pretty safe to assume that they are basing in Australia to open up the Asian markets after being flung out of the US… Australian Asians are also the biggest Gamblers…which may also be appropriate…

[watch85]

There’s another broker called AETOS, check it out. But I’m not sure if they can take NZ clients

[cebudude]

Fusion Markets, in Melbourne, Australia has been around since 2010 and has over 10,000 users. It is a low-cost broker that operates in 60 countries offering Forex, including 90 currency pairs, and CFDs on stock, commodities, indices and Crypto, including 5 pairs that consist of Bitcoin, Ethereum, Dash and Ripple.

Advantages:
1.Their non trading fees and trading fees are very low
2.No inactivity fee
3.Their fee report is very transparent
4.Having a very upgraded Customization in their charting
5.Minimum deposit amount is $1.
6.Deposit using Dragonpay(Philippines)

Disadvantages:
1.The withdrawal process is very slow it takes a minimum of 3 days
2.Foreign traders are regulated under VFSC regulations(Vanautu)

[assuredrag]

The best way to judge a broker is by their reviews, market presence and regulations. The regulations and verifications are the sure shot way of judging a broker. This is the best way to understand if a broker is fraud or not. Moreover there is a slight chance that even brokers have lied on their site, so make sure that you cross check the broker name on the regulators website. If you want to go one step further you can also check whether they are complying with the norms of regulating agency. For example I am using XTB and Fxview which is CYSEC approved. I would suggest you can open a demo account with the brokers and check that they are complying with these norms. I think after these three checks there is absolute surety that this broker is genuine. There can be no more checks other than the normal ones like if the transaction is HTTPs secured or not and likewise common methods.

[Piplaws]

@assuredrag

I am using XTB and ■■■■■■ which is CYSEC approved. I would suggest you can open a demo account with the brokers and check that they are complying with these norms. I think after these three checks there is absolute surety that this broker is genuine. There can be no more checks other than the normal ones like if the transaction is HTTPs secured or not and likewise common methods.

I am using ḟẋview which is CYSEC approved. I would suggest you can open a demo account with the brokers and check that they are complying with these norms. I think after these three checks there is absolute surety that this broker is genuine. There can be no more checks other than the normal ones like if the transaction is HTTPs secured or not and likewise common methods.

[cashisking86]

Used IC Markets as long as I have traded and always been happy enough with them. Might be a bit pricey for some to deposit but reliable and reputable. Pepperstone are good too I believe but not used them so can’t really vouch for them.