As I've been saying in some of the other threads, the Australian regulation can be trusted and is on par with the UK's FCA in my opinion. Any of the Australian brokers that runs an ECN account you shouldn't have any problems with. Do some research and let me know what you come up with yourself. Vantage FX are a good choice. My trading group and I trade with them and have never had a problem. ASIC recently issued a warning against them for lying that they're licensed in Australia.
However, the company is not associated in any way to Market City International, or Brokers Just keep in mind that Smart Trader Tools package is for manual trading. Hopefully it will work for you this time.. I have never heard about Brokers but I have quickly checked their website and noticed that they don't even mention their ASIC license number. Thanks for letting traders here know about Brokers scam.
I'm interested in hearing more about your EA. So often online you hear stories of EAs working on a demo but then not when you transfer it to live. Is this simply because you're trying to scalp a few pips here and there? I am a slightly longer term trader myself and would love to hear why technically it might not work as an automated EA? Did you get it running at Vantage FX in the end? I'm always interested to hear how the Australian brokers compare.
I am considering account opening with Australian FX broker. Looks like Vantage FX has decent presence in this thread. Chaps, after participating in a trading comp currently run by Vantage I would say their data feed is crap, therefore access to liquidity is questionable. If you are looking at long term then it shouldn't be much of an issue. I skiped demo experience with any broker I have ever traded.
You don't trade the live market on demo server so whats the point to test something which is not real. I have been with Vantage FX for few months and made some money there and so far I don't have any complaints so i guess I will stick around for while. IC Markets - couple of my trading buddies used to trade with with this brokerage. Unfortunately for IC Markets they also knew how to measure slippage and the results I have seen were terrible.
Almost every single trade was hit with negative slippage no news trading. IC markets shows amazing spreads but if you dig a little bit deeper you will see the scam they run. Inbuilt slippage on MT4 which inflates your trading costs. How else do you think IC offer spreads so much tighter than their competition. What, you think if you are a big hitter that they are going to actually give you those numbers? No, they will slip you and give you a real ECN price. Slippage is a bum and few will understand just how damaging slippage can be.
And I also understand it's easy to blame slippage instead of accepting responsibility for one's "poor" trade decisions. I trade down on ticks bro with MT4. In my experience, I'm more likely to actually get a point or 2 positive slippage under normal market conditions. Slippage is, unfortunately, a self-fulfilling prophecy. When trading down at this level you want the market to have a bit of volatility. Unfortunately, when this occurs the price we see on our charts is long gone by the time we place our trade.
We alone are responsible for when we decide to enter a trade. I also have a relationship with a prop firm who trade with IC Markets. Also, means I have a different server to log into.
So there is every chance I have a different data feed to many. Corner-store retail brokers have different servers for different books. But as you rightly said, these things can not be determined on a demo account. Only by trading live can one evaluate if a brokers offering is suited to the individuals needs. Now, if I was a broker, and I was running a comp to market my firm, I would ensure the entrants had access to the best data feed possible.
IF the data feed to the comp server is the best Vantage has got then not impressed. Way too unstable, way too filtered. And they apply other marketing methods, like offering these "smart" tools. Only one smart tool any of us needs and that sits on our shoulders. None are unregulated market makers and none are setting out to screw you. We will all have our individual reasons for selecting one broker over another so anyone else reading this, just download demos of them all, speak to someone at the company about your specific trading strategy and then trade with who suits you.
Hi mate, do you guys trade manually or do you use some EA?? Hey Phil, I'm interested in hearing more about your EA. Go IC Markets all the way.
Hi mate, I skiped demo experience with any broker I have ever traded. Say no to IC Markets all the way.More...