Best Broker for Australian?

Hi all,
I have been trading forex for about 6 month now using Easyforex.com.au , however I'm starting to dislike thier sometimes slow responding website and the fact that I can only set SL no less that 14 pips away from current price, also thier spread on the AUD/USD which what I mainly trade is 4 pips which is from what I have heard is alot more than other brokers... I'm in Australia so I would like to know who you think is best broker and why ?? Thanks all and hope you are having a great xmas and new year break.

interactive brokers.. mfglobal..... I believe fxpro is coming onshore. FXOpen is coming onshore. Saxobank i think is too..

Take your pick. Try to research them and if anyone is lying about their services, ignore them.

http://www.gomarketsaus.com/

are ok

I've only been trading for a few months and am using FXCM.

AUD/USD spread is usually around 3-3.4.

I don't know if they are good,bad or indifferent. The marketscope software works well with quick execution and rarely ever crashes.
If anyone has a better option I'm also interested to hear.

The name is Oanda...........

Thanks everyone, but I was more intrested to know what brokers you are using and how much thier spread is for the AUD/USD and thier trading platform stability and thier website ease of use, also thier sillipage?

Hi Daytrader,

You could try searching an Aussie Stock Forum and look for threads on Brokers that are licensed in Oz.

That way your money stays in Oz and they are covered by our regulations.

Go Markets seem to be the most popular MT4 broker on some forums.

HTH

go have really good customer service and help you out when ever you need. plus they withdraw your money whenever you request without any hassles. spreads are decent to.

Who else here uses GoMarkets as their broker and what do you think of them ?

if you want to know peoples opinion of go markets then go to aussiestockforums.com and go in the forex tab.

there is a full discussion on go markets there and also go markets are on there themselves helping people out and answering questions. one of the very few brokers who get involved with there traders.

This broker states on its website that they are STP and they have liquidity from "70 institutions fighting to give you best bid and ask". But if you trade during the news time, they will eventually disable your account. Which leads me to believe that they are not truly STP and these "70 institutions" may not exist.

I only got as far as their high pressure sales team. And told the guy to bugger off because he tried to tell me that MT4 wasn't designed for market makers.

Clearly had no idea what he was talking about, then when i challenged him he turned around and said "waa i used to work for ANZ"... Meanwhile he called me when i was working on a trading floor..

Guy was a doofus, and as far as I can see, they changed their trading conditions when all the fapturbo gimps went chasing their conditions. Sounds like a market maker to me.

The guy I delt with was great had time to go over what was required to get the account open and the important aspect of entering the right server address. ( I would have stuffed that up with out the word up!)

With the recent liquidity improvements leading to excellent spreads and execution this is what keeps me trading at GoMarkets. I have compared them to FXCM standard account and they beat them hands down..... FXCM are a joke and there active trader is a bigger joke. 10$ a round trip on a 25k min acc / 10 mill a month, come on get real. Go no matter the account size give the same spreads. Their $/J can be cheaper then IB at times

no complaints

I'm not an Australian but I am using Easy-Forex. We have a great club/community over here where we are using EF as our main broker. Because our community is quite big, EF given us a special account, where usually for mini account the spread for AU will be 4, but it is only 3 for us. And there is even special EF MT4 for our club. But you have to email them and ask them to transfer some fund from your EF account.

But EF does have drawback. They claim we can freeze the price even when market is moving. But if the price move 2 pips and more when you freeze, it won't work (And only when let say you want to short AU at 0.9000, then price move to 0.8998, but if the price move to 0.9002, usually you will get the price)

But overall, I still love EF. Especially because the way their system is a bit different. Usually with other broker, if you want to short at 1 lot (1:100 leverage) you will have to have at least USD1000 for margin (sorry, not familiar with the term) and then let say you set up your SL at 50 pips from your open price, so you have to have at least USD1500 in your account right? But with EF, it's different. If you want to short at 1 lot, if you put the SL at 50pips, you only risk USD500. That means you have another USD1000 to do whatever you like, trading other pair or increase your lot. Of course, this is double edge sword, if you lose that, you'll lose all. But then it's all depend on money management right?

I've talked quite a bit. Lol. Anyways, TS, if you want a better spread, you can upgrade your account to platinum, you can enjoy dealer's room as wel (sometime you can even get 2 pips through dealer room but 3 pips through the website)