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Brokers based in Australia

  • #41
  • Aug 14, 2008 9:39pm Aug 14, 2008 9:39pm
Quoting Go Getter
I use to trade with cmc and at the start they where pretty good, no requotes, no matter what size trade i put on, it generally went on pretty quick and then a few years ago things started going downhill.

Anyway I researched alot of platforms, even flew over to the States and had a few meetings over there, but alot of them could not deal with the system that I use.

Anyway on my return to Australia I had a meeting with IG Markets and have been trading with them without any requotes or any problems at all, infact they take me and my trading buddies out for lunch every month, but I think that has something to do with the size of my business.

Hope this helps

cheers
Hi Go Getter

I've got a live account with IG Markets, but I haven't deposited any money into my account yet because I've heard a couple of stories about their poor payout speed and poor support if you're on a good trading streak and making money. This was to accounts based in the UK.

Have you had any issues with them transferring money to your account when requesting? Any issues with their support from way out here on the ass-end of the world?
  • #42
  • Aug 17, 2008 12:12am Aug 17, 2008 12:12am
Quoting Grantman
A thing to note is that entering a trade during extreme volatility can take a few tries.
So, that would mean that you cant get a fill in fast moving markets?
Does Latitude have fixed or variable spreads?
  • #43
  • Aug 17, 2008 1:21am Aug 17, 2008 1:21am
Quoting PipStar
So, that would mean that you cant get a fill in fast moving markets?
Does Latitude have fixed or variable spreads?
You can get a fill in fast moving markets so long as the price doesn't tick during the ping delay between you and their server which incidently is usually upward of 500ms indicating that it's off shore. The spreads are fixed so that pretty much shows it's a retail broker setup although their website basically says they are hands off and the whole thing is automated which I would agree with at the moment because the execution is rapid. Will be interesting to see if it stays that way. CMC sure didn't.
  • #44
  • Dec 10, 2008 4:28am Dec 10, 2008 4:28am
Another update on Latitude. Basically getting filled during volatility was pretty sluggish, taking a number of tries. The ping delay was sometimes at a maximum of 1300ms so that would explain the sluggishness. They have shifted their software to an mt4 platform now so I'll be hoping the execution picks up in speed.
  • #45
  • Dec 11, 2008 12:27am Dec 11, 2008 12:27am
I am using lattitude and go markets. Latitude has variable spread, go is fixed. Fingers crossed it stays that way...
  • #46
  • Dec 11, 2008 3:32am Dec 11, 2008 3:32am
Yes, I did not update earlier. The spreads are variable.
  • #47
  • Dec 16, 2008 8:18pm Dec 16, 2008 8:18pm
I have been using IG Markets for a while now and had no problems.
  • #48
  • Sep 16, 2009 4:13pm Sep 16, 2009 4:13pm
Final update. My trading has tapered off a lot in frequency to the point of once a week to sometimes once every two weeks. I've found the Latitude platform has grown very sluggish around news announcements with my last experience saying the platform had lost connection. I wasn't doing anything particularly important at the time but I'm not comfortable with situations like that. Thus, I've decided to withdraw my funds and leave latitude.
  • #49
  • Sep 17, 2009 10:18am Sep 17, 2009 10:18am
Quoting Grantman
Final update. My trading has tapered off a lot in frequency to the point of once a week to sometimes once every two weeks. I've found the Latitude platform has grown very sluggish around news announcements with my last experience saying the platform had lost connection. I wasn't doing anything particularly important at the time but I'm not comfortable with situations like that. Thus, I've decided to withdraw my funds and leave latitude.
I've had the same experience with Latitude. They seem to shut down the platform during news announcements. I have also closed my account nearly 2 months ago.
  • #50
  • Sep 17, 2009 12:08pm Sep 17, 2009 12:08pm
Quoting PipStar
I've had the same experience with Latitude. They seem to shut down the platform during news announcements. I have also closed my account nearly 2 months ago.
your still searching for a broker after all these years of trading, LOL
  • #51
  • Sep 17, 2009 6:18pm Sep 17, 2009 6:18pm
Quoting traderfx
your still searching for a broker after all these years of trading, LOL
I trade with many brokers at the same time. Sometimes I have to replace one of my brokers with a new broker mostly because of their poor performance. Since brokers change their systems all the time, it pays to be aware who gives the best execution out there.
  • #52
  • Sep 17, 2009 7:33pm Sep 17, 2009 7:33pm
Anybody had any experience with FXCM in Australia.

Thanks

Fourxxxx
  • #53
  • Sep 19, 2009 3:40am Sep 19, 2009 3:40am
Quoting PipStar
I trade with many brokers at the same time. Sometimes I have to replace one of my brokers with a new broker mostly because of their poor performance. Since brokers change their systems all the time, it pays to be aware who gives the best execution out there.
then why trade with a market maker? you seem like your lost and don't know what your doing, going broker to broker is not the answer unless your dealing with small accounts, i suggest you build your account and move on to bigger things.
  • #54
  • Sep 27, 2009 3:37am Sep 27, 2009 3:37am
Quoting Fourxxxx
Anybody had any experience with FXCM in Australia.

Thanks

Fourxxxx

I had an account with FXCM in the US, and had it transferred to FXCM Aust when they setup here (earlier this year I think). No problems with the process and they were keen enough (even called me a few times).

I was trading a different strategy back then though so I seldom use my acct anymore (spread too wide for my timeframe). I now trade through IB - yes, my money's offshore, not in Aust - no alternative there, but the spreads are gold.

Cheers.
  • #55
  • Sep 27, 2009 3:43am Sep 27, 2009 3:43am
Quoting PipStar
I trade with many brokers at the same time. Sometimes I have to replace one of my brokers with a new broker mostly because of their poor performance. Since brokers change their systems all the time, it pays to be aware who gives the best execution out there.
Indeed, it's all about execution. I assume you're choosing a broker that suits your methodology. I've jumped between 3 over the years for that very reason. It's common-sense and all part of a complete strategy. At the end of the day, you don't need a reason to blame your broker...
  • #56
  • Sep 28, 2009 7:27am Sep 28, 2009 7:27am
Quoting Bud Fox
Indeed, it's all about execution. I assume you're choosing a broker that suits your methodology. I've jumped between 3 over the years for that very reason. It's common-sense and all part of a complete strategy. At the end of the day, you don't need a reason to blame your broker...
Not everyone understands this as I can see from replies from previous posters but you are absolutely right. It's all about execution and trading methodology. By using several brokers I get the right execution with some of them although not with all of them at the same time.
  • #57
  • Oct 6, 2009 5:46pm Oct 6, 2009 5:46pm
Quoting Bud Fox
I had an account with FXCM in the US, and had it transferred to FXCM Aust when they setup here (earlier this year I think). No problems with the process and they were keen enough (even called me a few times).

I was trading a different strategy back then though so I seldom use my acct anymore (spread too wide for my timeframe). I now trade through IB - yes, my money's offshore, not in Aust - no alternative there, but the spreads are gold.

Cheers.
THank you for your reply, can ask who is IB have been searching but no results yet.

Thanks

FourXXXX
  • #58
  • Oct 6, 2009 7:23pm Oct 6, 2009 7:23pm
GoMarkets boys in melb and a aussie broker.
  • #59
  • Oct 6, 2009 8:16pm Oct 6, 2009 8:16pm
Quoting Fourxxxx
THank you for your reply, can ask who is IB have been searching but no results yet.

Thanks

FourXXXX
Interactive Brokers
  • #60
  • Jun 27, 2010 1:56am Jun 27, 2010 1:56am
Wait before opening any new broker accounts in Australia
Check HOW EXACTLY are client funds are protected
I am a victim of Sonray Capital . a white lable of Saxo
I thought my cash was secure because it was in a "Poooled client segregated account"
I am bloody angry that ASIC allows sucg thing to happen
If anybody else is in the same boat please PM me
MJ
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