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Brokers for Australian retail traders

  • #21
  • Oct 10, 2019 6:57am Oct 10, 2019 6:57am
Quoting Horne
{quote} maybe not.. financial-services/rules-and-regulation/new-zealand-fma-adds-55cmt-and-circleforex-and-yuanhui-to-its-warning-list

Circle forex seems to be another company, that article points to circleforex.com which is a website that does't even exist, probably was a scam that already disapeared...

CircleMarkets on the other hand exists is based in NewZealand and registered there since 2015, looks legit

https://app.companiesoffice.govt.nz/...P/FSP460986.do
  • #22
  • Oct 12, 2019 7:30am Oct 12, 2019 7:30am
What about FXPro?
  • #23
  • Oct 13, 2019 3:37am Oct 13, 2019 3:37am
I'm with IC Markets and AU based, so also currently getting some options lined up.
PFD is another NZ based option https://www.pfd-nz.com
Otherwise, probably going to go with https://www.fxpig.com
  • #24
  • Oct 15, 2019 7:28am Oct 15, 2019 7:28am
Quoting papamax
{quote} Circle forex seems to be another company, that article points to circleforex.com which is a website that does't even exist, probably was a scam that already disapeared... CircleMarkets on the other hand exists is based in NewZealand and registered there since 2015, looks legit https://app.companiesoffice.govt.nz/...P/FSP460986.do
true, two entirely separate companies. my mistake.
  • #25
  • Jul 7, 2021 1:22am Jul 7, 2021 1:22am
Quoting papamax
A good alternative might be Black Bull Markets.. They are in NZ which is a solid country and offer good leverage, just keep in mind what Bicarus said above. I have been experimenting with them and so far so good, nothing to complain, reviews on FPA also look very solid.
I've tried BBM and to be honest I found their service lacking. I've since closed my accounts and looking for another broker with normal leverage. These communists at ASIC have a lot to answer for. My friend just had his entire account stolen by an unscrupulous FX dealer offshore which he joined before I could stop him. Tens of thousands gone in an instant and of course they're ghosting him now. He will never get it back. He believed a review site but once I read all the "similar" reviews I knew at once it was a bad move. Didn't want to rub it in though after losing his entire account. That dealer's entire website is now gone! Yes, there were clues but again, I was too late to help him.

Scary stuff.

Does anyone have any updates from a decent offshore broker (dealer)? I'm going to look into the ones linked in this thread but surely by now some of you have found new trading homes. Tell us where to consider going please. It's such a minefield out there that I can really only trust real people's recommendations. Review sites all smell funny to me.

Thanks for reading.
  • #26
  • Jul 7, 2021 4:22am Jul 7, 2021 4:22am
Can non-Asic regulated brokers offer services in Australia? I would then recommend to try Hotforex because I'm satisfied with their trading conditions.
  • #27
  • Jul 7, 2021 5:02am Jul 7, 2021 5:02am
Quoting FXBaz
{quote} I've tried BBM and to be honest I found their service lacking. I've since closed my accounts and looking for another broker with normal leverage. These communists at ASIC have a lot to answer for. My friend just had his entire account stolen by an unscrupulous FX dealer offshore which he joined before I could stop him. Tens of thousands gone in an instant and of course they're ghosting him now. He will never get it back. He believed a review site but once I read all the "similar" reviews I knew at once it was a bad move. Didn't want to rub...
I've been trading with Valutrades for about 4 months or so. I don't have any complaint about spreads or execution. Have managed to double the account in that time and am going to withdrawal my initial deposit amount plus 10%. Deposit was via Skrill so withdrawal has to also be Skill. I'll let you know if I have any problem.
There is the UK branch and the Seychelles branch (Seychelles is the one with good leverage obviously).
  • #28
  • Last Post: Jul 7, 2021 5:18am Jul 7, 2021 5:18am
Quoting BubaYaga
{quote} I've been trading with Valutrades for about 4 months or so. I don't have any complaint about spreads or execution. Have managed to double the account in that time and am going to withdrawal my initial deposit amount plus 10%. Deposit was via Skrill so withdrawal has to also be Skill. I'll let you know if I have any problem. There is the UK branch and the Seychelles branch (Seychelles is the one with good leverage obviously).
Thanks. I’ll check them out.
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