Which broker is the best for Australia

I am from Australia and looking for an honest broker with low spreads.
Can anyone make a recommendation please ?

I’ve heard how many brokers stop hunt and take out your order to steal your profits.
Forexpeacearmy is putting Global prime at the top.

I’ve read good reports about FP markets. Anyone using them ?

Thank you

or

https://blueberrymarkets.com/

Both FP markets, Pepperstone and IC markets are regulated brokers and their MT5 platforms are great. I trade all three live…

I would advise you to compare these three standard accounts against one another, and choose one that offers the best spread and the largest number of CFDs that you’re likely to trade.

BTW, blueberry markets platform set up is not up to date and numbers of CFDs are less than the above. Pity, really, as they have good intentions and great customer support.

Ok noted thanks. I noticed you say MT5. Do you think MT5 is better than MT4 ?
If so, why do you think the MT5 platform is better ?
Is it true what they say about how with MT5 the broker can’t see your stops ? But with the MT4
platform they can and therefore trade against you.

MT4 is outdated; but for many traders it’s used for EA trades. The MT5 platform offers more TF’s and updated indicators. Also useful is you can see your trade entry and exit arrows on the charts.

Only unregulated brokers would attempt to act fraudently. None of the above fall into that category.

True, MetaQuotes stopped developing MetaTrader4 ages ago, by now it is quite outdated. That said, it was still one of the best platforms in existence, so no wonder so many people are still fond it, myself included. I’m yet to move onto MetaTrader5. :sweat_smile:

So I’m not sure about any specific brokers located in Australia, but I have an account with CedarFX and they accept clients from across the globe. I opened an account there a little over a year ago and have been trading with no issues and received 4 or 5 withdrawals within that time. They have a 0 commission account with low spreads like you asked about (starting around 0.5 pips on EURUSD) and the minimum to open an account is just $10 USD.
I know there are a lot of choices out there, but I do think they have some of the best conditions and I’ve compared a lot of them. Hope this helps!

I’ve been trading with TurnkeyForex and have withdrawn funds a lot of time without any difficulty.

Best to draw a comparison based on the features that are important to you and then create demo accounts with the shortlisted brokers.

You can check the reviews of this broker online and compare with other brokers. There are many webistes that instantly compare broker.

Some brokers scam people in the name of serving exceptional trading services. Before considering any recommendation, it would be best if you do your own research because everyone will suggest a broker according to their needs.

I am in Australia too. We are restricted to 1:30 leverage here now because of the new laws. I used to use IC Markets up until then. Now I have gone offshore for the leverage I used to get. Just make sure they are ECN and not a market maker.

The best broker for you is obviously the one that has ASIC license so you will get better protection in case of scam. Also reliable regulation ensures broker won’t cheap. Have a look at Hotforex or Tickmill I think they will suit your needs.

I’d pick on fxview or fxpro or both in fact, their trading conditions are quite solid and match my trading requirements as well.

IC Markets keeps turning up as one of the best AU brokers in reviews. I’ve picked Fusion Markets after reading up on them and their customer service is really good and helpful so far. AU residents, under ASIC, are restricted to 30:1 leverage though. As a non AU resident (regulated with VFSC) I am capable of using up to 500:1.

Edit: They have an account type called Fusion Market Pro account that you might be able to get the high leverage against even as an AU resident. I’m not entirely sure. There are some caveats there like no negative balance protection. There should be similarly competitive offerings from other brokers as well.

I too have shifted to an offshore broker (turnkeyforex) for the same reason. I am getting 500X leverage with them and their trading costs are very reasonable.

I can surely say AximTrade is the best trader in Australia. AximTrade is regulated and authentic in operations and its standards of quality are uncompromising when it comes to transparency and integrity.

Are you saying that other brokers aren’t regulated and authentic? Why aren’t the other brokers transparent or with integrity in your opinion?

I’m just trying to say that AximTrade is trustable and obviously one of the best forex brokers in Australia to trade with.