Which of these Australia or New Zealand brokers? | Forex Factory

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Which of these Australia or New Zealand brokers?

  • #1
  • First Post: Dec 21, 2016 5:59am Dec 21, 2016 5:59am
Which of these brokers are worth a try; Axitrader, PFD nz, Global Prime, ICmarkets, Darwinex, FXPIG, Tickmill, DirectFX, Dukascopy?

Preferably a broker from Australia or New Zealand please because I live 'down under'

Getting back into trading again & I am trying find a reputable regulated broker with low spreads(for scalping & long term trades) & minimal slippage. Would any of you traders be able to recommend any from the above mentioned please or any other decent one out there that is not a bucketshop?

I am aware that most brokers are merely wolves in sheep clothing.. I have gone to look at reviews on most brokers and they all seem to have reviews that make me want to avoid trading completely.

Well, here is hoping I can get some good advice or recommendation from some of you on this forum.

Or am i better off looking at trading futures which has better regulation?

I would appreciate any advice. Thank you.
  • #2
  • Dec 21, 2016 12:45pm Dec 21, 2016 12:45pm
Pepperstone. I trade from New Zealand. I've been with them for about three years now. Spreads are low, execution is fast enough. Customer service is courteous and responsive.
  • #3
  • Dec 21, 2016 1:10pm Dec 21, 2016 1:10pm
between NZ and AU regulators. AU is much stricter, recent changes in ASIC regulations dictate that brokers require insurance coverage on clients funds. (demand CS to send u a copy of their insurance policy).

with regards to slippage and spread and execution pricing, nothing is perfect. its hard to tell as it mostly depends on market conditions/aggregator. one that slip today, might not slip tomorrow, vice versa. same thing goes for spread.
u might want to open cent/demo accounts with all the brokers u have shortlisted and use this to find the one that is most consistent to other brokerages. https://tradeproofer.com/
  • #4
  • Dec 22, 2016 9:09pm Dec 22, 2016 9:09pm
Quoting moyes
Which of these brokers are worth a try; Axitrader, PFD nz, Global Prime, ICmarkets, Darwinex, FXPIG, Tickmill, DirectFX, Dukascopy? Preferably a broker from Australia or New Zealand please because I live 'down under' Getting back into trading again & I am trying find a reputable regulated broker with low spreads(for scalping & long term trades) & minimal slippage. Would any of you traders be able to recommend any from the above mentioned please or any other decent one out there that is not a bucketshop? I am aware that most brokers are...
Hey Moyes,

Just beware that while on the surface you might think it is best to trade with a local NZ regulated broker, there are serious issues with how loose your regulations are and that basically anyone that wants to open a brokerage can.

At Vantage FX, we have a large number of New Zeland clients on our book trading from across the dutch and enjoying the peace of mind that comes with ASIC regulation. Definitely open up a few ECN demo accounts and do some research on spreads, slippage and whether these things change when you scale up your trading size.

Good luck!
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #5
  • Jan 2, 2017 3:07pm Jan 2, 2017 3:07pm
Quoting Bicarus
between NZ and AU regulators. AU is much stricter, recent changes in ASIC regulations dictate that brokers require insurance coverage on clients funds. (demand CS to send u a copy of their insurance policy).
not every broker will have an insurance coverage yet. this industry will have a year to comply to this new rule, I think starting from November 2016.
wonder which broker has this insurance in place right now?
  • #6
  • Jan 3, 2017 4:48pm Jan 3, 2017 4:48pm
Global Prime Au remains the best broker. Axitrader can close even demo account after one month without notice. Pepperstone closes demo account after one month, though notice. Funny brokers
Make all mistakes in demo and rain in pips in live account
  • #7
  • Jan 3, 2017 9:36pm Jan 3, 2017 9:36pm
Quoting 9jatrader
Global Prime Au remains the best broker. Axitrader can close even demo account after one month without notice. Pepperstone closes demo account after one month, though notice. Funny brokers
Hey 9jatrader,

Most brokers set their demos to expire after 30 days of use. This encourages the client to go live or at least stay in contact if they want to reset for another 30.

If you're looking for a non-expiring demo account, check out our unlimited demo account here. Just open an unfunded live account and you can demo trade forever without having to be reset.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #8
  • Edited 1:32am Jan 4, 2017 12:42am | Edited 1:32am
Quoting Vantage FX
{quote} Hey 9jatrader, Most brokers set their demos to expire after 30 days of use. This encourages the client to go live or at least stay in contact if they want to reset for another 30. If you're looking for a non-expiring demo account, check out our unlimited demo account here. Just open an unfunded live account and you can demo trade forever without having to be reset.
Thanks for reply. I will try yours. Am a swing trader. Market can trend for months, as you already known. If brokers can close demo where they don't benefit, what would happen when it's $$ where they can benefit? It means withdrawing profit will be more difficult than robbing a Central bank
Make all mistakes in demo and rain in pips in live account
  • #9
  • Jan 4, 2017 7:08am Jan 4, 2017 7:08am
Quoting 9jatrader
Global Prime Au remains the best broker. Axitrader can close even demo account after one month without notice. Pepperstone closes demo account after one month, though notice. Funny brokers
Rather funny comment Demo trading is rather bad way of learning (so 30 days is enough to check conditions), you learn much more on real account due to real market conditions. On demo account there are no slippages, orders don't affect market, so it's really better to learn on real account even with 0,01 lot.
  • #10
  • Jan 4, 2017 7:09am Jan 4, 2017 7:09am
Quoting moyes
Which of these brokers are worth a try; Axitrader, PFD nz, Global Prime, ICmarkets, Darwinex, FXPIG, Tickmill, DirectFX, Dukascopy? Preferably a broker from Australia or New Zealand please because I live 'down under' Getting back into trading again & I am trying find a reputable regulated broker with low spreads(for scalping & long term trades) & minimal slippage. Would any of you traders be able to recommend any from the above mentioned please or any other decent one out there that is not a bucketshop? I am aware that most brokers are...
From ASIC regulated brokers the best are IC Markets and Pepperstone, much better spreads than other Australian brokers.
  • #11
  • Jan 4, 2017 1:37pm Jan 4, 2017 1:37pm
Quoting insomniawawa
{quote} Rather funny comment Demo trading is rather bad way of learning (so 30 days is enough to check conditions), you learn much more on real account due to real market conditions. On demo account there are no slippages, orders don't affect market, so it's really better to learn on real account even with 0,01 lot.
A pilot might as well be given a plane to fly passengers after a month of simulation. He/she can use the lives of the passengers to know emotion in piloting, much more funny.
Make all mistakes in demo and rain in pips in live account
  • #12
  • Last Post: Jan 5, 2017 6:57am Jan 5, 2017 6:57am
Quoting 9jatrader
{quote} A pilot might as well be given a plane to fly passengers after a month of simulation. He/she can use the lives of the passengers to know emotion in piloting, much more funny.

Right, so for you whole risk of $100 account is the same as 100 people lives? Moreover, there are rather no emotions if you risk 1$ per trade the same as on demo...
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