WTF - any safe Australia broker
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Thread: WTF - any safe Australia broker

  1. #1
    Hi A newbie to Foreign Exchange just using demo and looking into brokers gt; In australia which is intended to be regulated and safe ? However I discovered some very alarming criticisms with Go Markets and IC Markets and they seemed to be the same excuse from the brokers the traders where utilizing EAs that where illegal , they were not, and that there was a problem with the price in the server so a lot of traders had their own profits obtained and not return. They say ASIC are despised to move to do anything. . .so I'm fairly gun shy to participate which is a shame, as this really is and appears to be happening. Just some thoughts from you more experienced traders on the market .
    Thanks James

  2. #2
    If the EA is illegal in IC Market, then it might be illegal with other brokers. Just read a broker's TC. The issue is how advanced is that the broker detection method in finding out your EA is illegal.
    I have used Aussie brokers like IC Markets, International Prime, Pepperstone, 8Cap and don't have any problem with withdrawals or deposits. The difference between them are in their LPs, spread, slippage, leverage, Stop level etc which determine that sort of EA that can be used profitably.
    Haven't tried any illegal EA, so can not comment on that.

    If you live in Aus, no reason why you would chose a broker in a different nation. Withdrawals are received in the exact same day or overnight. Aussie brokers have a tendency to have many different base currency including SGD, HKD, CDN which brings traders from these nations.

  3. #3
    Quote Originally Posted by ;
    When the EA is illegal in IC Market, then it would be illegal with other brokers. Read a broker's TC. The issue is how complex is that the broker detection method in determining your EA is illegal. I've utilized Aussie brokers such as IC Markets, Global Prime, Pepperstone and have no issue with deposits or withdrawals. The difference between them are in their LPs, disperse, slippage, leverage, Stop level etc that determine that kind of EA which may be used profitably. Haven't tried any illegal EA, so can't comment on that. If you reside in...
    I will confirm, I'm from Singapore and I've a Pepperstone account.

    Up to Now, so good.

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