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Aussie brokers discussion

  • #1
  • First Post: Aug 6, 2009 10:11am Aug 6, 2009 10:11am
Hi all,

I'm hoping to get some good discussion for aussie's about our options for brokers.

I'm particularly interested in feedback in regards to opening accounts, depositing and withdrawing funds and support for the Metatrader platform.

I currently use FXCM and they have been great so far - i started with a Trading Station platform, then converted it to MT4, but when i tried to execute a trade and take half position off, i found that amazingly it did not allow me to do it !
So i converted back to Trading Station.

I would also like to know if anyone has experience with easy forex ?
I just registered without depositing to check out the platform, and while it doesnt have a proper charting function (nothing a demo mt4 cant fix), it seems quite interesting.
  • #2
  • Aug 6, 2009 10:51am Aug 6, 2009 10:51am
usually start with reading forexpeacearmy feedbacks.

Quoting pipmyride
Hi all,

I'm hoping to get some good discussion for aussie's about our options for brokers.

I'm particularly interested in feedback in regards to opening accounts, depositing and withdrawing funds and support for the Metatrader platform.

I currently use FXCM and they have been great so far - i started with a Trading Station platform, then converted it to MT4, but when i tried to execute a trade and take half position off, i found that amazingly it did not allow me to do it !
So i converted back to Trading Station.

I would also like to know...
  • #3
  • Jul 12, 2016 6:50am Jul 12, 2016 6:50am
Hi guys


Does anyone use IC Markets demo account ?

I am currently using it but I find it out pretty much useless : really too slow, false entries, price discrepencies...
Don't give up on your dreams. Keep sleeping.
  • #4
  • Jul 14, 2016 12:00am Jul 14, 2016 12:00am
Quoting pipmyride
Hi all, I'm hoping to get some good discussion for aussie's about our options for brokers. I'm particularly interested in feedback in regards to opening accounts, depositing and withdrawing funds and support for the Metatrader platform. I currently use FXCM and they have been great so far.
First off, 'Pipmyride' has to be one of the best forum names here hahaha!

The Aussie brokers are great because they're properly regulated (hi Cyprus) and accept those of us living in Canada now!

There's really no point in getting into a nitty gritty argument over which broker is best. Stick to the ones that offer an ECN account, have low trading commissions and give you the extras that suit you best. I went with Vantage FX myself and they've been honest and clean with me. Can't complain.

Quoting pipmyride
I would also like to know if anyone has experience with easy forex ? I just registered without depositing to check out the platform, and while it doesnt have a proper charting function (nothing a demo mt4 cant fix), it seems quite interesting.
CySec marketmaker: Enough said. Avoid like the plague.
  • #5
  • Jul 14, 2016 12:37am Jul 14, 2016 12:37am
Quoting Badem
{quote} First off, 'Pipmyride' has to be one of the best forum names here hahaha! The Aussie brokers are great because they're properly regulated (hi Cyprus) and accept those of us living in Canada now! There's really no point in getting into a nitty gritty argument over which broker is best. Stick to the ones that offer an ECN account, have low trading commissions and give you the extras that suit you best. I went with Vantage FX myself and they've been honest and clean with me. Can't complain. {quote} CySec marketmaker: Enough said. Avoid like...
7 years later...
Don't get mad, get even!
  • #6
  • Jul 14, 2016 12:45am Jul 14, 2016 12:45am
Quoting Artcool
Hi guys Does anyone use IC Markets demo account ? I am currently using it but I find it out pretty much useless : really too slow, false entries, price discrepencies...
I used them but didnt like their spreads so stuck with pepperstone.
20 Pips a day keeps centerlink away
  • #7
  • Jul 14, 2016 11:53pm Jul 14, 2016 11:53pm
Quoting stulic
{quote} 7 years later...
Yikes, I didn't even notice the thread was that old!

Scrambled eggs all over my face.
  • #8
  • Jul 15, 2016 7:08am Jul 15, 2016 7:08am
pepperstone stopped taking new canadian clients btw. in light of that i also signed up with ic just in case
  • #9
  • Jul 16, 2016 12:17am Jul 16, 2016 12:17am
Quoting Pipologic
If you really want to check a brokers spreads rather than believing the garbage or a salesman or online banner simply to to myfxbook where you can look at broker spreads in real time and even select all of Aussie brokers. Remember do not believe anything a broker tells you and especially don't believe what they say on their website. Compare the cold hard facts. You can only really compare the spreads properly on myfxbook as they have all the brokers listed. It really annoys me when people say a brokers spreads are good or bad without looks at...
Not quite true in reality...

Look at what IC Markets do. You really think they can offer the spreads that they advertise to every big hitting, profitable trader? Why is it that the other Australian brokers don't just match them?

Because they offer those spreads on the surface, but once you start to get to the big hitting, profitable accounts, then you will have issues with slippage that negate those tight spreads.

It is much more important that your broker has no issues when it comes to execution and withdrawals for truly profitable traders and managed accounts, rather than purely what a myfxbook spread comparison chart says.
  • #10
  • Jul 16, 2016 12:43am Jul 16, 2016 12:43am
Quoting Badem
{quote} Not quite true in reality... Look at what IC Markets do. You really think they can offer the spreads that they advertise to every big hitting, profitable trader? Why is it that the other Australian brokers don't just match them? Because they offer those spreads on the surface, but once you start to get to the big hitting, profitable accounts, then you will have issues with slippage that negate those tight spreads. It is much more important that your broker has no issues when it comes to execution and withdrawals for truly profitable...
And how big do you have to get for that to happen ?
  • #11
  • Jul 16, 2016 2:00am Jul 16, 2016 2:00am
Quoting grrbear
pepperstone stopped taking new canadian clients btw. in light of that i also signed up with ic just in case
I have heard they are after the Asian market particularity china, Chinese are big spenders
20 Pips a day keeps centerlink away
  • #12
  • Jul 16, 2016 10:24am Jul 16, 2016 10:24am
Quoting Pipologic
{quote} Not quite true. The fact of the matter is that bigger brokers can offer tighter spreads, the reason for this logical, banks will price bigger brokers better as they want the flow. So I guess the reason there's don't offer the same spreads as IC Markets is probably because they are not keeping their banks / liquidity providers happy... It's pretty simple really.... Now to the topic of slippage, this is unaviodlable if you are trading during times of high volatility, in normal market conditions slippage should be minimal, I personally have...
I bet one of those broker was GP. Am I right?
  • #13
  • Jul 16, 2016 8:32pm Jul 16, 2016 8:32pm
Quoting Stellan
{quote} And how big do you have to get for that to happen ?
Big enough to be able to hurt the broker's bottom line if they are taking on some of your trading risk. The spreads aren't real market spreads, so they have to make up the difference themselves. There isn't a hard number, but I'm sure you can work it out.


Quoting BubaYaga
{quote} I bet one of those broker was GP. Am I right?
No comment
  • #14
  • Jul 16, 2016 8:41pm Jul 16, 2016 8:41pm
Use FP Markets for direct market, great platform with webiress.

Market Makers using IG for over 10 years and stated using FXCM in the last 12 months like both.

Using SAXO with SMSF, not bad just for CFDS.

Never use MT4 only use there own platforms.

Have used a couple of US direct matrket brokers in the past.

The only broker I never liked was CMC, did not like the platform/charts and execution was slow.

Also Commsec is no good for the everyday trader, cost far too high.
  • #15
  • Jul 19, 2016 7:18am Jul 19, 2016 7:18am
Quoting Artcool
Hi guys Does anyone use IC Markets demo account ? I am currently using it but I find it out pretty much useless : really too slow, false entries, price discrepencies...
I have a live account at IC Markets, so far didn't face any problem.
  • #16
  • Last Post: Jul 19, 2016 11:06pm Jul 19, 2016 11:06pm
Quoting FooFX
{quote} I have a live account at IC Markets, so far didn't face any problem.
See here:

Quoting Badem
{quote} Not quite true in reality... Look at what IC Markets do.

You really think they can offer the spreads that they advertise to every big hitting, profitable trader? Why is it that the other Australian brokers don't just match them? Because they offer those spreads on the surface, but once you start to get to the big hitting, profitable accounts, then you will have issues with slippage that negate those tight spreads. It is much more important that your broker has no issues when it comes to execution and withdrawals for truly profitable traders...
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