Could anyone please advise me of who is the best and fairest Forex broker in Australia ?
I have heard not so good things about IC markets and some reasonable reports
about Global Prime. Choosing a good broker could mean all the difference in survival for a new
person like me.
I was looking for an ASIC broker as well a few months ago and had shortlisted ICM, GlobalP and FP Markets.
Decided to go with FP Markets as their Trading condition were the best out of all the ASIC brokers. They have been in operation for over 15 years, so probably most reliable as well out of the lot
Whatever you do, don’t go near IC Markets .They burned me and took $28000 out of my pocket !
@GregMitch68, Checkout Pepperstone and BlueBerry Markets… Stay right away from IC Markets…
Pepperstone is the most fully featured Broker with various Platforms and and the best array of Instruments to trade… If you intend to use the MT4 Platform then BlueBerry is possibly the easiest to start with.
All Australian Based and regulated by ASIC…
I think you should take your eyes off those brokers. Sometimes I feel their regulation is just for show or they pay money to these agency to keep mute. Better read the terms and condition with a big lens. Believe me, its more than 12 months using Forexchief and I’ve not even experienced any bullshit and even get steady 1:500 leverage on currency pairs and 1:100 on commodities. Just look for a serious broker that is quiet and calm. Also check the FPA reviews, those reviews don’t lie.
ForexChief Ltd | Dealer in Securities (Principal’s License) issued by VFSC
Legal address | 1276 Kumul Hwy, 1st Flr Govant Bldg, Port Vila, Vanuatu
Enough said…
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Hi sir,
Are you still looking for a broker?
My pick of the Australian brokers would be FP Markets, their raw ECN spreads are some of the lowest compared to other similar ECN brokers.
With their iress platform, traders can choose from over 10,000 instruments to trade.
Check it out for turnkey forex, ecn brokers with low spreads and commission. Trading with them around 9 months and never have been disappointed and they have quite a good offering like bonus and vps things. Take a look at them, surely you won’t regret.
In my opinion, City Index, FxView and CMC Markets are some good options you could look at. They all are licensed brokers, something I always look into when choosing a broker. Just makes the whole deal more safe. I reckon. City Index offers overall good trading conditions and CMC markets can offer a diverse portfolio, if that is something up your alley. Fxview’s processing time is real quick, for which reason I vouch for it.
My account is with Pepperstone. I have no complaints about them. I’d be happy to recommend Pepperstone to anyone. But you shouldn’t go wrong choosing another ASIC regulated broker. I don’t have experience with other brokers so I can’t judge who is best.
@BAD14214 I don’t have any experience with Pepperstone but an ASIC regulated broker does not guarantee any transparency. I’m from Australia and recently I got burned by ICmarkets and ASIC did not do any damn thing.
They do not get involve in these disputes at all.They are bombarded by complaints since this year due to rising scams
@Forexteamcmp
Sorry to hear about your issues with IC Markets.
Like I said I’m not an expert since I only have experience with Pepperstone.
No pressure but for the benefit of everyone on this post could you please share more information about your issues with IC Markets.
No worries mate . I’ve already shared the story here. here is the link bellow. I was in battle and were trying to talk to someone from ASIC from April. It’s a nightmare dealing with financial disputes in Australia.
You can try Forexchief.com. I have found it to be fair. It offers leverage from 1:25 to 1:1000 and a minimum deposit as low as $100. It offers accounts for all needs, including cent accounts, on both MT4 and MT5 platforms with a floating spread of 0.3 pips. The execution is fast and I have never had a problem with withdrawals. It even offers a welcome bonus of $500 as soon as you open an account.
If you want to dentify the best broker for you area then it is reccomendable that you find out on your own rather than having other people tell you. Even if you are directed to some good brokers you should take it upon yourself to find out whether they are the best or not. What matters most is what you think because the trading journey is yours and yours alone.
I trade with FP Markets an Australian broker that is regulated by ASIC and has been active since 2005.
Been trading with them for 10 months, spreads are really competitive and commission costs are lower, haven’t faced an issues with them till date, the experience as been good so far
Hi HItlerFX, have you withdrawn money from your account and can you open an account from outside Auz? (UK)
As in a high leverage account…