Finding the right broker for automated trading depends on a few criteria. If you're looking for such brokers in Australia, here's to name a few.
An automated trading system sounds like a great opportunity for new traders. After all, they will have a better chance to gain profit without actually managing their own trades. This way, automated trading offers flexibility for busy traders, as they can stay in the market while still doing their full-time jobs. If you are an Australian trader, there are a lot of brokers for automated trading you can try.
What is Automated Trading?
As the name suggests, this method lets you automate your trading to your preferred setup. The main idea is to help you work your position in the market without actually being there. Automated trading requires the use of the program to assist in opening and closing positions.
Some trading platforms offer built-in software that allows users to auto trade. However, some traders prefer to create their own automated trading system in order to achieve the best possible results they can get. There are some platforms with strategy-building wizards that allow traders to build their own automated trading systems. Sometimes, traders are required to work closely with a programmer to develop the system.
There are several factors to consider when you are choosing a broker for automated trading. To begin with, it is best if your broker provides free VPS. VPS or Virtual Private Server is a dedicated server that allows traders to trade seamlessly along with a trading expert to assist them. A VPS helps to trade automatically and execute positions with faster speed. Other factors you want in a broker for automated trading are low spread and no slippage, to make sure you don't get 'robbed' while letting your position float overnight.
Automated Trading vs Copy Trading
On the surface, automated trading seems very similar to copy trading. There are some similarities between the two that lead people to believe that the two features are the same. Although both allow users to trade in the market automatically, there are some underlying differences between the two.
For instance, copy trading lets you 'copy' a professional trader in performing their strategy. This has better learning opportunities as it allows you to learn how a professional works and gain profits. You can choose which traders to follow, with whatever characteristic you want. But this requires you to understand more about the market in order to select which trader to copy.
See Also: Top Forex Brokers For Copy Trading
Meanwhile, automated trading is more simple at its core since you make your own order with the help of a robot trading so you can always be in the market. But of course, that means you can only depend on whatever the robot brings you. This might be a problem if you are looking to improve or find a learning opportunity. Also, automated trading might not be the best choice to trade when there is high-impact news that moves the price unexpectedly.
Pros and Cons Automated Trading
- Doesn't Involve Emotions: Controlling your emotions is very important if you want to succeed. A lot of traders make bad decisions because they are panicking or influenced by certain moods. These are the results of not controlling your emotions and trading psychology. However, as automated trading is carried out by a robot, there will be no emotion involved in the process. Everything with be following what the automated system brings to the table.
- Trade Anytime You Want: If you still have a full-time job or generally have a very busy schedule, it might be hard to keep watch of your positions. If you are not in the time zone of your preferred market, it might be hard to stay awake just to check your positions. Now, with an automated trading system, it's possible to trade while still going about your day like usual.
- Limited Setup: Often, you have little to no opportunity to make changes to the automated system. If somehow the market changes or evolves outside the set strategy, there is no way your system can adapt. This might lead to a huge loss if you aren't careful.
- No Educational Value: Because you are depending on the software, there is no learning value here. It's almost like you're running on autopilot. This is different from when you trade on your own in the real market that allows you to learn the brutal unpredictability of price action.
Where to Autotrade
Not all brokers provided an automated trading system. If you're looking for a good Australian broker to facilitate it, here are some examples you can try:
1. IC Markets
IC Markets is well known for its raw accounts, which offer competitive spreads for all trades. IC Markets make sure that their raw spreads really start from 0.0 pips. To reduce slippage and requote, this broker claims to execute orders under 40ms using their low latency fiber optic and Equinix NY4 server. Of course, they provide VPS to make sure traders will have the smoothest trading experience.
If you want more choices of instruments to trade, IC Markets has over 60 products of forex pairs, 1659 products or stocks, and many more. Digital currencies are also available, but right now, this brokerage only gives you access to 10 cryptocurrencies. Funding is very convenient as they offer instant deposits and free commissions.
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
FxPro is an Australian broker for automated trading with more than 15 years of experience. Aside from competitive spreads and zero commission, the broker's deep liquidity lets clients get the best possible Bid and Ask prices. FxPro allows automated trading through their MT4 platform using Virtual Private Server from BeeksFX. It runs EAs (Expert Advisors) 24/5 with no downtime and reduced latency to make sure there are no slippage and requotes. This platform will let you use 30 technical indicators and 24 analytical tools to make sure you have the best experience in the market.
Ever since its establishment in 2006, FxPro has successfully expanded to serve retail and institutional clients in more than 170 countries. Their head office is in London, UK.
FxPro UK Limited is authorized and regulated by the FCA since 2010. Meanwhile, other subsidiaries such as FxPro Financial Services Limited is authorized and regulated by CySEC since 2007 and the FSCA since 2015. Because of that, traders do not need to worry again about their funds safety. As a strong proponent of transparency, it established the highest standards of safety for clients' funds, as the company chooses to keep the funds in major international banks, fully segregated from the company's funds.
They always try to provide transparent and ethical practices across the global trading industry. In 2018, 74.65% of market orders were executed at the requested price while 12.8% of the client's orders were executed with positive slippage. Also, only 1.4% of all instant orders received a requote with 0.72% of them receiving better price when executed.
The total number of trades in FxPro has increased from year to year. In 2018, the number of trades achieves 53.6 million. Based on trust from their clients, FxPro received awards as Most Trusted Forex Brand UK 2017 by Global Brands Magazine. Besides, they became the first broker to sponsor an F1 team in 2008. There are around 60 UK and International Awards which had been achieved by FxPro.
They are committed to create a dynamic environment that equips traders with all the necessary tools for their trading experience. Opening an account in FxPro grants access to more than 250 CFDs on 6 asset types, including forex, shares, spot indices, futures, spot metals, and spot energies. They want to provide their clients with access to top-tier liquidity and advanced trade execution with no dealing desk intervention. The average execution time is less than 11.06 millisecond with up to 7,000 orders executed per second. Those advantages enable traders to benefit from tight spreads and competitive pricing.
Furthermore, FxPro is recognized as an innovative broker. The company allows its clients to enjoy a wide range of trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge. Web-based versions and mobile applications are also available so that traders can access financial markets at any time and anywhere.
Traders can choose platforms according to their needs. Fans of MT4 is provided with instant execution and easy-to-use trading platform. In this account, leverage is up to 1:500 and spreads start from 1.6 pips without commissions.
If traders want to get experience with more modern technology, traders should choose FxPro MT5 Accounts. In this account, spreads start from 1.5 and leverage is up to 1:500 without commissions.
Another type of accounts is FxPro cTrader. It is suitable for traders who give priority to the speed of execution with the most restrictive spreads compared to other account types'. FxPro cTrader is a powerful trading platform offering the best available bid and ask prices, with orders filled in just milliseconds. The platform also provides Market Depth and trading analysis tools. In this account, spreads start only from 0.3 pips. But, traders have to pay commissions $45 per $1 million traded (upon opening and closing a position) in forex and metals.
The key difference between MetaTrader 4, MetaTrader 5, and cTrader lies in the range of the CFD products that are available. The MT4 platform gives traders a chance to open positions on all of the 6 asset classes, whereas the MT5 doesn't support shares, and cTrader doesn't support shares and futures.
Besides 3 types of platforms above, trading in FxPro also enables access to FxPro Edge. This platform offers clients a new way to trade the markets in the form of spreads betting.
Each broker has pros and cons, and FxPro is not an exception. Aside from the advantages as explained before, FxPro has a high minimum deposit. Also, there are not many types of payment and withdrawal methods available at FxPro. Some types of methods even require traders to pay fees. However, it is still important to note that clients can trade forex, shares, indices, metals, and energies, with limited risk account at no additional cost in Fxpro
Regardless of the advantages and disadvantages, FxPro can be traders' choice as one of the best brokers with sophisticated technology. The company is suitable for traders prepared to trade with funds starting from $500.
Pepperstone is a good Australian broker for automated trading. This brokerage lets you build and run your EAs using MetaQuotes Language 4 (MQL4) through their MT4 platform where you can choose thousands of other online tools to plug into MT4. You can also test the capability of your Expert Advisor for more accurate trading results. In other words, automated trading in Pepperstone allows you to trade the markets 24/5 without any intervention.
They have fast executions with a 99.9% fill rate and no dealing desk intervention to make sure there is no slippage that can disturb the profit you make with automated trading. They also provide a competitive raw spread called the razor-sharp spread where you can enjoy spread as low as 0.0 pips with deep liquidity and no requotes.
FXCM (Forex Capital Markets) is a brand name of a retail broker for trading on the financial market, especially the foreign exchange market. The broker was founded in 1999 and was originally headquartered in the United States. After a series of lawsuits from customers and case settlements by the US regulator (CFTC), FXCM moved from the US and became a UK-based broker, authorized and regulated by the Financial Conduct Authority (registration number 217689).
During 20 years of experience in the forex industry, there are about 2 million traders choosing Alpari as the broker to trade with. Alpari has a head office on the 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius. The company is regulated in St.Vincent and the Grenadines (the licensed number is 20389 IBC 2012), IFSC Belize (the licensed number is IFSC/60/301/TS/18).
This broker uses MetaTrader 4 and MetaTrader 5, both of which offer great flexibility, charting tools, and an easy-to-use interface. For higher volumes, the company also provides the Alpari International Direct platform which offers enhanced features for advanced investors.
The company offers an array of live trading accounts to choose from. Each one offers different opportunities and allows traders to trade in different ways. All of their accounts use USD, EUR, GBP, and NGN as the options for base currency. But, NGN accounts are only available to clients in Nigeria.
Each kind of account has a different spread. At Standard Account provides spreads from 1.2, the spread of Micro Accounts is from 1.7, and ECN Account and Pro Account have spread from 0.4. A trader can open an account in Alpari and opt to trade currencies (FX majors, FX minors, FX exotics, and FX RUB), spot metals, spot commodities, stock trading, spot indices, and crypto-currencies.
A trader can find out what the minimum spreads, pip value, swaps, and trading session times are for each instrument before start trading. If the trader is still not sure where to begin, they can found the answer in a guide provided by Alpari on their official website.
Their guide to trading is designed to break down the terminologies and answer the most frequently asked questions by traders. A trader will be trading more quickly and with more confidence in no time.
Besides, Alpari offers PAMM (Percent Allocation Management Module) which allows a trader to choose their desirable Account Manager. This allows traders to have a chance in gaining more profit without advanced knowledge of forex trading. These managers usually have a wealth of experience in the markets, with tried-and-tested strategic trading decisions.
This program also gives opportunities for well-seasoned traders to become Strategy Managers. As Strategy Managers, they can use their trading experience and earn more from profitable trades. They have privileged access to Alpari's advanced programs and all the tools they need to cultivate a massive following of investors. The investors then will help Strategy Managers to earn more through commission fees up to 40%.
Their website also provides various Forex Trading Strategies. Because to increase the chance to profit, it's important to know as much about the markets and the trading strategies behind them as possible. Alpari believes that strategies provide traders with a roadmap for trading, reducing panicked decision-making that can occur in the heat of the moment. In other words, trading in Alpari allows traders to learn about any kind of forex trading strategy.
For educational purposes, the company provides Trading Webinars, one of the variants of technology that allows users to hold seminars, talk shows, and discussions online, without having to communicate face to face.
Alpari creates a very convenient funding and withdrawal experience for each trader. A trader can transfer with any kind of methods, such as e-payment (example: FasaPay, Local Transfer, TC Payment, etc), credit cards (Visa, Mastercard, and Maestro), E-Wallet (Neteller, Skrill, VLOAD, TC Pay Wallet, WebMoney, Perfectmoney, Bitcoin), and bank transfer. If there's been no trading activity on the trader account for at least 6 months, an inactivity fee of 5 EUR/USD/GBP will be applied.
All Back office transfers are processed during standard business hours, 03:00-19:00 GMT+2 (GMT+3 during DST), Monday-Friday. If traders still feel confused, they can contact Alpari's team by any method, such as Live Chat, Telegram, or email.
4. Admiral Markets
Admiral Markets really deserves to be one of the best Australian brokers for automated trading. You can use MetaTrader 4 & 5 functions clock-round, which include your own EAs and indicators. To make sure you can get the best possible trading experience, this brokerage is happy to bring you a Virtual Private Server service, or VPS. This decreases the risk of the costly price from high latency. The spread in Admiral Markets is very competitive; you can enjoy spreads as low as 0 pips in both MT4 and MT5. Of course, there is a wide range of instruments to choose from as well, ranging from forex pairs, cryptocurrencies, bonds, stocks, and many more.
Another Australian broker for automated trading you should consider is XM. This brokerage allows you to work with Expert Advisors, as well as built-in and custom indicators. If you don't know how to set your system, they will provide you with built-in help guides for MetaTrader 4 and MetaQuotes Language 4. XM also provides a low spread account with a spread as tight as 0.6 pips. However, if you trade fore, there is a chance you might be charged with rollover fees.
Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).
XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.
In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.
Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage on the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.
To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.
For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.
XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).
All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.
OANDA lets you auto-trade using the MT4 plug-in. You can also create and test your own automated trading strategies using their APIs. OANDA also has competitive spreads for all major and minor currency pairs they offer. This brokerage promotes trading with no requote since market orders will only be rejected if they fall outside the upper or lower bounds that you choose to place to protect against price fluctuations.
Traders looking for brokers with accurate precision, OANDA can be an option. That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Order execution speed is also faster in this broker.
It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system.
Founded in 1996, OANDA was built by Dr. Michael Stumm who is a lecturer in Computer Engineering at the University of Toronto, Canada, along with his colleague, Dr. Richard Olsen of The Olsen Ltd., which is one of the leading econometric research institutes. They have a head office in San Francisco, United States.
OANDA branch offices can be found everywhere. Some of these offices are located in the United Kingdom, Singapore, Japan, and Canada. With this number of offices spread, OANDA has increasingly attracted the attention of clients worldwide.
OANDA's company is registered under several well-known jurisdictions in financial trading. They are regulated by CFTC and NFA in the US, FCA in the UK, ASIC in Australia, and many others. Traders do not need to worry anymore about security when trading in OANDA. However, these advantages make trading rules at OANDA more stringent compared to other brokers.
For example, OANDA only allows maximum leverage of 1:50, because the rules in the US and Japan do not allow leverage above that. Besides, the registration procedure is more complex due to various additional requirements that are not submitted by other forex brokers. On top of that, hedging is not allowed in one trading account as the client must open an additional account to hedge.
Nevertheless, OANDA is known for being a leading broker with many advantages offered. OANDA faces increased market risk during periods of price volatility, such as economic and political news announcements. When market spreads increase or decrease, their pricing engine widens or narrows spreads accordingly. That way, traders can get the latest conditions from price movements in the market more quickly.
Prices move very fast in the market. Especially when news releases have a large impact on market volatility. This condition is often exploited by brokers to take advantage of clients with Requotes. However, traders do not need to worry about additional costs when trading with OANDA.
The company never withdraws Requotes so traders can get maximum profit. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses.
As an experienced and well-known online forex broker, OANDA is committed to maintain an efficient trading environment that reduces latency and provid tools to help clients manage the degree of acceptable slippage.
With a fast & reliable trading platform by OANDA, clients' trades are executed in 0.012 seconds. This suits traders who choose brokers based on execution speed.
Because of this exceptional execution service, it is not surprising that OANDA won many awards, including the winner of the world's Best Retail FX Platform at the prestigious e-FX awards. The broker is also voted number 1 for Consistency of filling trades at quoted prices, Execution speed, and Reliability of platforms.
There is no minimum deposit or minimum balance required to open an OANDA account. Deposit and withdrawal can be done easily. OANDA provides a variety of payment method facilities, including Paypal, Wire Transfer, Credit Card, and Debit. Traders can adjust it to the region where they live.
OANDA provides more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent Crude Oil, Copper, Corn, Natural Gas, Soybeans, Sugar, etc.), 6 Bonds, and 23 Metals.
The fxTrade and MetaTrader platform are available at OANDA. These platforms can be used for Desktop and Mobile. Another plus is they have an OANDA Technical Analysis that exists in collaboration with a technical analysis provider called Autochartist.
With these platforms, clients can monitor price movements easier and automatically recognize patterns created on charts, as well as receive alerts when the awaited patterns appear. Access to this technology can be enjoyed free of charge.
In conclusion, OANDA is an ideal broker for traders in need of fast execution backed by many years of experience. The company is also a good alternative for those looking for a well-regulated broker with flexible trading and deposit conditions.
The Bottom Line
There is a lot of Australian brokers for automated trading that can be a great and safer choice for new traders, especially if they are busy, working full-time jobs, or living in different time zones that make it difficult for them to always stay in the market. Luckily, these Australian brokerages come with great features such as low spread, low latency, VPS, and certain things needed to support automated trading.
|Feature||Go to IC Markets||Go to XM||Go to Admirals|
rated by 22094 users
rated by 238 users
rated by 1214 users
|Office(s)||Australia, Hong Kong and Viet Nam||Australia, Cyprus, Greece and Hungary||Argentina, Australia, Bulgaria, China, Croatia, Czech Republic, Germany, Hungary, India, Indonesia, Italy, Jordan, Latvia, Lithuania, Poland, Romania, Russian Federation, Serbia, Slovakia, Slovenia, Spain and United Kingdom|
|Regulation|| ASIC ACN 123 289 109 |
Securities Commission of The Bahamas, SIA-F214
The Financial Commission, 25.11.2021
|ASIC, 443670 |
CNMV (Spain), 2010157773
CONSOB (Italy), 3046
FCA (UK), 538324
FSP (New Zealand), FSP235905
|ASIC, 28381 |
FCA (UK), 595450
FSA (Estonia), 10932555
FSA (Seychelles), 8426894-1
Jordan Securities Commission, 57026
|Minimum Position||0.01 lot||0.01 lot||0.01 lot|
|Payment||Bitcoin, BPAY, Credit/debit cards, FasaPay, Neteller, PayPal, Skrill, UnionPay and Wire transfer||CashU, Credit/debit cards, FasaPay, giropay, iDEAL, Moneta.Ru, Neteller, paysafecard, QIWI, Skrill, SOFORT, UnionPay, WebMoney, Western Union and Wire transfer||AstroPay, Bitcoin, Credit/debit cards, iDEAL, Neteller, PayPal, Skrill, SOFORT and Wire transfer|
|Official Website||Visit IC Markets||Visit XM||Visit Admirals|
|Forex Demo Account|
|US traders are welcome|
|Requires sending documents via postal mail|
|Overnight interest rates (swaps)|
|Trading by telephone|
|Interest rate on funds|
Trading Platforms and Complements
|Trading via API|
|One-Cancels-Other (OCO) orders|
|Gold & silver|
|Website Languages||Chinese, English, Japanese, Russian||Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Turkish||Arabic, Bulgarian, Croatian, Czech, English, Estonian, German, Hungarian, Italian, Latvian/Lettish, Malay, Polish, Portuguese, Romanian, Russian, Serbian, Slovenian, Spanish, Swedish, Turkish, Vietnam|
|Traders Reviews|| |
Millard DonnellyMay 26 2022
I am honestly interested in IC Markets because of a lot of things, including:
- low spreads
- CFD trading
- multiple deposit and withdrawal methods
I also understand that IC Market has plenty of trading platforms ranging from MT4, MT5, and cTrader. Does any of their platform available for customization? If yes, does it utilize MLQ4 programming language or C# programming language?
Arletta BoltonMay 26 2022
Do IC Markets accept deposits and withdrawals from credit cards? I have actually visited their websites and I have already checked their payment methods and I have realized that they have a lot. I've seen that they offer bank transfers as well, but I am not sure if they can accept payment through credit card as it is the most convenient for me now.
Wayne FinnieFeb 18 2020
Open real accounts with CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA regulated brokers.
The brokers below are good because they have strict regulations and have a long history of forex trading.
IG (min deposit $300), Forex.com (min deposit $1,000), Oanda (no minimum deposit), Saxobank (min deposit $5,000), XTB (min deposit $250), Dukascopy (min deposit $1,000)
Those brokers are different from offshore regulations such as Cyprus, British Virgin Island, Vanuatu, Grendlines, Belize, etc. You can also check the detail of each broker above, including regulatory aspects, company history, to liquidity providers.
Vincent HowlettFeb 17 2020
Wayne Finnie: What I don't like is how sneaky brokers are. When I chat with CS, they just ask me to follow the policy on client agreement, but then when I read, it's already newly updated. Things like this make me scared to deposit in huge amounts.
Jewel PrescottApr 19 2021
There is no way to describe how happy I am with Admiral. They have been so helpful from setting up my Metatrader platform to market analysis, strategies, and quick replies to technical queries on the platform and technical analysis ideas. They also have great educational features that I have been using for a while now. Their video series is also absolutely brilliant and has given me a great knowledge base to build from.
Gidget RollinsJun 29 2019
It really sucks, I have been trying to withdraw for a while and it doesn't let me. For information, it wasn't always like this. Sometimes it can be really quick when I was still in my home country. But, recently I have just moved to England. It takes at least 3 days to be at your bank account. Since they are a UK company, it should be faster for wire transfer and debit cards than the other non-UK broker that I am with. Also, it's really hard to close my positions, I had to wait at least 3 minutes. Profit drastically diminishes after closing it.
|Open Real Account||Open IC Markets Real Account||Open XM Real Account||Open Admirals Real Account|
Automated trading has been a controversial issue over the years, yet it still gains more and more users. There are actually more you can learn about advantages and disadvantages of forex automated trading.