cheapest online broker

Cheapest Online Brokers in Australia

These days, when it comes to share trading, online trading is hardly a new thing.

With so many brokers available, the next hurdle is to find the cheapest online broker Australia.

After all, one of the best ways to improve on your trading success is to ensure that your trading costs are as low as possible.

If this is something you are interested in, the information below will be of great use to you. Here, you will not only discover what the top discount brokers Australia are but also get a closer look at what makes them great. On this note, here is a list of brokers that you can rely on:

1. FP Markets

FP Markets is an online CFD and forex broker. This is an ASIC regulated brokerage that has been functioning for over a decade, making it one of the better-known brokers in the market. Here is what you need to know about this broker:

Instruments

If you choose to sign up with FP Markets, you have access to around ten thousands instruments. This allows you to be engaged with a wide number of instruments in share trading, CFD trading, and forex trading. Most of these instruments are related to CFD trading, allowing you to select from:

  • Equities
  • Commodities
  • Indices

At the same time, you will also gain access to around 50 currency pairs for forex trading. As far as commodities go the top options are:

  • Gold
  • Silver
  • Crude oil

You even have the option to trade with Bitcoin if you want to.

Accounts and Fees

There are three different kinds of accounts, one for each trading category. For the share trading account, you can opt for the Standard which offers up a 0.11 percent commission fee and $14.95 minimum fee. For the non-leverage CFD account, the commission starts at 0.08 percent and there isn’t a minimum fee.

The three CFD accounts are the Professional, Platinum, and Premier, with minimum opening balances ranging from $1,000 to $50,000. For equity CFD, 0.08 percent for Australia to 2 cents a share when trading US stocks from Australia.

For forex accounts, Standard minimum opening balance is $100 while the ECN RAW account is $1000. There are no commissions for most of the Standard transactions. Instead, the cost is built into the spread. For the RAW accounts (forex and metals) there is a cost of $3.5 per 100,000.

Platforms

You can select from three platforms with this broker – the IRESS, MetaTrader4, and MetaTrader5. This is good news for traders of all capabilities as you should be able to find a suitable platform between these three. Now, of all these platforms, the IRESS does include a charge of $55 a month, including GST.

2. Amscot Stockbroking

Amscot Stockbroking is in the mix as the best stockbroker Australia. This broker provides traders with some of the most competitive prices on the market. Here is a closer look at how this broker functions:

Instruments

What puts Amscot Stockbroking on the map is the fact that it deals with the three major exchanges in Australia. These are the ASX, Chi-X, and Sydney stock exchange. Due to this, traders have all the instruments traded on these exchanges at their disposal. As such, it can offer a higher number of instruments than most other brokers.

Accounts and Online Trading Rates

You can open an account with Amscot for absolutely no cost at all. There are no sign-up costs, monthly fees, or even any ASX royalty fees. Rather, the fees here are associated with the trading plans made available by the broker. Depending on what kind of trader you are, you can select from the ValueRate and TraderRate.

If your trade values tend to be less than $40,000 then your ValueRate is the best option here for you. Here a trade size of $5,001 will incur a brokerage rate of just $9.90. In fact, with this plan, you will find that the prices beat out many of the other brokers, as long as you trade less than $50,000.

For traders whose trade value tends to be greater than $50,000, the TraderRate works well. A trade size of 50,0001 will have a rate of just $33. The rate remains almost as low, even when the trading value increases up to $1,000,000.

Platforms

One of the downsides of this broker is that you are only able to rely on different forms of the IRESS trading platform. As you may be aware, this is one of the few platforms that require a monthly fee. As such, you will be required to pay $77. However, if $220 of brokerage is generated during the month, this fee will be waived.

3. Bell Direct

Bell Direct is actually an award winning broker, ensuring that you are in good hands when you sign up for a share trading account Australia. To find out just what this brokerage has to offer you, keep reading:

Instruments

One of the top reasons to select this cheap broker is the fact that there is so much you can trade with. This includes all ASX listed equities. To add to this there are also:

  • Interest rated securities
  • ETFs
  • Warrants
  • Managed Funds
  • Options
  • IPOs
  • XTBs

As you can see, you really are spoiled for choice. This makes Bell Direct a good solution for more seasoned traders who want to keep costs down.

Bonus Tip: If you are interested in forex trading then one of the cheapest online brokers is Vantage FX Australia.

Trader Fees

One of the main perks with this broker is that the more you trade, the less you actually pay. For instance, your first 10 trades of the month (up to $10,000) cost just $15. The 11th to the 30th trades are 13 or 0.08 percent, depending on which is higher. The 31st trade onwards cost $10 or 0.08 percent, whichever is greater.

Platform

To add to the many benefits of signing up with this broker is the fact that it has arguably the best online trading platform Australia. This broker-approved platform makes it easier for traders to place trades more efficiently and quickly, improving your opportunities. This is aided by the fact that the platform is synced to up-to-date, with live information, ensuring that you have constant knowledge of what is going on.

These are the cheapest online brokers you can find anywhere. Not only are they affordable, these brokers also provide top-notch services and excellent trading opportunities.

vantage-fx Australia

Vantage FX Australia

Vantage FX Australia is one of the top Forex brokers in the country.

The broker is regulated in Australia, making it one of the safest platforms for regular Australians to use.

Vantage FX is famous, but does it live up to the hype? Read the Vantage FX Australia review below to find out more.

What is Vantage FX Australia?

Founded in 2009, Vantage FX specialised in Forex trading from the get-go. The company operated on five principles: transparency, accountability, integrity, reliability, and trust. Australians can get access to global Forex markets through Vantage.

Vantage FX is intended for both professional and casual traders. The company, unlike most brokers, doesn’t have its own trading platform. Rather, it relies on other platforms such as MT4 and MT5. Vantage FX promises clients fast execution speeds and great customer service.

Account holders can trade these financial instruments: Forex, indices, commodities, share CFDs, and, recently, cryptocurrency. The company’s ECN spreads for RAW accounts start from 0.0.

Traders can check out the Vantage FX signals.

vantagefx-signals

The company offers two different types of accounts for users. Individual brokers can sign up with Vantage to manage client funds as well. A great alternative to Vantage FX is City Index Australia.

Is Vantage FX Trustworthy?

Trustworthiness is the most important feature to look for in any Forex broker. Vantage FX is ASIC regulated. The company has a business address in Australia.

Vantage FX is professionally audited by the KPMG in association with the Australian Financial Services Licence. The company deposits client funds in National Australia Bank. As per regulations, client funds are segregated from company funds.

Vantage FX offers Professional Indemnity Insurance select persons, including employees, under ASIC rules. All in all, Vantage FX is a well-regulated Forex broker in Australia. The company is highly reliable in terms of its services.

Vantage FX Markets and Leverages

Vantage FX offers access to the following markets under certain conditions:

  • Forex—Australian clients can get access to global Forex markets on MetaTrader 4 platform with IG. The broker offers uninterrupted access and considerable levels of liquidity. Vantage FC offers as much as 500:1 leverages for the Forex market.
  • Commodities—Users can get access 24/7 to the global commodities market via Vantage FX. The platform facilitates leveraged trades. Available commodities include oil and precious metals like gold and silver. Vantage FX allows clients to speculate on very low trade volumes, sometimes as low as just 10 barrels of oil or an ounce of metal. Vantage clients can trade with maximum leverage on even sophisticated commodities markets like palladium.
  • Indices—Vantage FX gives access to 8 global stock exchange indices, including the London Stock Exchange, Dow Jones, and Japan’s Nikkei. Traders can gain access all day for 24 hours on working days. For indices, the broker offers a tool called oneZero for speculation as close to precise as it can get.
  • Cryptocurrency—Clients can get access to the hottest crypto markets via Vantage FX, including Bitcoins. You can’t own digital coins, but you can speculate on the price change volatility. Vantage FX allows hedging for crypto CFDs. However, unlike with Forex, no leverage is given.

Fees and Accounts

Vantage FX offers two types of accounts for new clients: standard and RAW. The standard account doesn’t charge a commission or any fees. It offers leverage of up to 500:1 for most trades. The spreads start at 1.0 pips. The minimum deposit requirement is $100.

vantagefx-servers

The RAW account is aimed at retail traders. It charges $3 per lot. The leverage is 500:1 just like the standard account. Minimum deposit is $500. The spread is very low and can start at 0.0 pips.

Vantage FX doesn’t charge deposit fees for any accounts. However, electronic deposit charges may still occur because of bank charges. Otherwise, Vantage FX doesn’t charge any account maintenance, subscription, or similar fees.

Both accounts offer a free demo version new users can try. Opening either a standard or RAW account will get you instant access to MetaTrader 4 on your desktop, online, or on a mobile device. You will also have access to trading services like ZuluTrade or Myfxbook AutoTrade.

Vantage FX accounts give traders access to 40 different types of currencies, seven commodities markets, and six indices. Crypto trading is enabled for both account types as well.

Benefits for New Users

Vantage FX has an education portal for new users called the Forex Training Academy. It’s essentially a crash course on how to trade on Forex markets and maximize your profits. However, you shouldn’t rely solely on this training material as Vantage FC is not licensed as a financial consultant.

The company’s main website has an extensive support and FAQ pages to help new users as well. This material gives a good primer on the trading platforms and how to manage your account. All in all, Vantage FX is great for new users who are still unfamiliar with the Forex trading environment.

Downsides

Vantage FX offers a number of benefits to users, but there are some drawbacks. Mainly, clients can only choose between two account options. It’s largely differentiated between casual and retail customers. Those in the middle may find the two options inadequate.

Additionally, clients can trade only using the MT4 trading platform. MT4 is widely regarded as a reliable and speedy platform. However, clients may prefer different trading platforms for different financial instruments. Unfortunately, Vantage FX doesn’t offer its own trading platform.

Alternatively you check check out all other CFD Brokers in Australia.

The broker offers excellent customer support infrastructure online. But when it comes down to actual customer support, they are slightly lagging. Customers have complained about the lack of immediate support to solve complex issues.

Conclusion

Vantage FX overall is a solid Forex broker option for professional and non-professional clients. Retail traders will certainly benefit from the RAW accounts the broker offers.

Clients can enjoy many benefits, such as wide, international access to the Forex market from Australia. The company is highly regulated so the level of trust is high. The software Vantage FX uses is top-notch. Free demos are available for anyone to try.

The downsides are minimal compared to the benefits. If you are a new or a casual Forex investor, Vantage FX is a great place to open an account.

cityindex australia

City Index Australia

Luckily City Index does accept traders from Australia.

If you are a trader looking for a new broker, then City Index Australia should definitely be on the top of your list.

It is equally suitable for both novice and seasoned traders, with enough features to allow everyone to place trades successfully.

Of course, this isn’t the only reason why this is one of the top rated brokers in Australia. If you want to learn what this broker has to offer, check out the details below:

City Index Australia – Features

If you are a trader looking for as much access as possible, you will find that City Index is a good place to start.

City Index Australia offers you:

  • access to over 4500 markets, worldwide.
  • For those interested in indices, you have a selection of 21 major indices to choose from.
  • You get to enjoy tight, fixed spreads from 1 point.

In case shares are more your style, you can go long or short on price predictions for local and global companies. The margins start from $5 and the commissions begin from $5 on Australian shares. Forex traders have the option of selecting from 84 different currency pairs with tight spreads from 0.5 points.

city index fx Trading

Traders with a focus on cryptocurrency will be pleased to learn that they can trade with Bitcoin, Litecoin, Ethereum, and Ripple.

What’s more, the CFD option ensures that you don’t actually need to own any of the currency to trade with. This isn’t the extent of this broker instrument options, though. You can also be involved with:

  • Commodities
  • Metals
  • Bonds
  • Options
  • Interest rates

As you can tell, with this broker you really are spoilt for choice. Regardless of the market or the instrument that you are interested in, you will be able to place a trade. What’s more, there are just as many options for local trades as well as international.

The Platforms at City Index Australia

This broker also offers a great deal of choice when it comes to platforms. Here you can select from three different options – the web trader, AT Pro, and MetaTrader4.

If you don’t want to go through the hassle of downloading a platform, you can stick with the City Index’s own web trader. This is a fully customizable platform that allows you to switch between multiple personalized workspaces.

At the same time, you get access to advanced charts and trading tools and a mobile app.

Australian trading app

If you don’t mind downloadable versions, then the AT Pro is certainly an option. It is particularly well-suited to more advanced traders that are looking for a platform with more efficient features.

This is personified by the fact that you can customize the layout as well as create your own trading templates. On top of this, you get access to dozens of charting tools and the ability to backtest all your strategies.

In case you are looking for something more familiar or easier to use, then the MT4 platform will be more suitable. Now, as you are probably aware, the exact performance of the trading platform is tied to the brokers.

So, you will be pleased to learn that City Index has been voted “Best MT4 Broker”. Therefore, in addition to all the top-notch features like custom indicators and personalized charting, you also get to enjoy tight spreads and fast trade executions.

The best alternative to City Index Australia is FXPro Australia.

The Demo Accounts

What’s great about all these platform options is that you don’t have to commit to any of them straight away. Rather, you have the opportunity to use demo accounts for each version. With AT Pro and MT4, you get to trade with $10,000 in virtual money. With the web trader, this goes up to $20,000.

City Index Australia Account Types

Continuing with the multitude of choice, City Index also offers traders the chance to select from quite a few different types of accounts. In fact, you will be hard-pressed to find similar account types with such brokers. There are options for both new, advanced, and multi-party traders.

If you are looking for something more pared down, then the Personal account will be a good fit. This is for novice, individual traders who are looking for competitive pricing and efficient executions.

You can also utilize the financial market experts associated with this broker, if you choose to.

If you have greater experience and want to step your trading up a notch, the Self Managed Super Fund account may appeal to you. Here, you have greater customization features, allowing you to manipulate the trades in a manner that is more suitable for your trading techniques.

For a more business-like approach to your trading, you can also open up either a Trust or a Corporate Trading account. If you prefer to share the trading burden with other individuals, it is just a matter of opening up a Joint account.

Now, there is no minimum deposit required for these accounts. However, the ability to open an account tends to be at the discretion of this broker. Therefore, you may only be granted permission to open up an account if all of your details align with the broker’s requirements.

Australian City Index Regulation

City Index Australia is regulated by ASIC and as such, falls under the purview of that agency. To be able to maintain this licensing, the broker is required to meet with rigorous standards. Due to this, traders who sign up with this broker can guarantee that their capital is safeguarded and that all trades that take place are legitimate.

Learning Materials – City Index

There are a considerable number of learning materials to access with this broker. For beginners, there are trading courses that include step-by-step guidance. In fact, you can even find information on how to place your first trade. More seasoned traders will find that there is just as much to learn as there is a lot of information on trading techniques and strategies. Traders making the switch from other brokers will be pleased to find that these education materials also detail how to place trades with City Index, specifically.

It is clear that City Index is a broker with a lot to offer traders of all sorts with different levels of experience. As such, it is suitable for anyone who wants to pursue a successful trading career.

fxpro australia

FxPro Australia

Is FXPro available in Australia?

FxPro is a well-known global Forex broker based in the UK.

Servicing over 150 countries, Aussies can open accounts with FxPro Australia.

Lets learn more about the broker in this FXPro review and see which are the advantages and disadvantages of this Australian friendly broker.

What is FxPro Australia?

FxPro is possibly the best known Forex broker in the world. The company first launched in 2006, and since its popularity, has only grown. FxPro also claims to be one of the leading Forex brokers in the world. The company has executed over quarter billion orders globally so far including orders from Australia.

FxPro offers financial instruments for both casual and professional traders. The main product offered is Contract for Difference (CFD) trading. CFDs are available for a variety of assets, including foreign currency exchanges, shares, precious metals, indices, energy, and futures.

Users won’t be able to directly trade with FxPro. Rather, it acts as an arbiter between traders and third-party trading platforms. The broker offers MetaTrader4 and MetaTrader5 as options for users. FxPro has its own branded platform called cTrader.

  • FxPro is based in the UK, but its reach is global, including Australia and New Zealand.
  • The company caters to a massive international clientele via subsidiaries in several countries.
  • FxPro has several licenses, being regulated by several entities.

Can Traders Register on FxPro Australia?

FxPro came to Australia in 2011. The company is licensed locally under FxPro Australia Pty Ltd in Sydney. This subsidiary services Australian clients under local regulations.

The Sydney subsidiary also acts as the headquarters for FxPro’s Asian operations. Nearly half of FxPro Australia clients are from Asian countries.

FxPro in Australia offers clients investment options not related to property or shares. The latter is traditionally popular among locals. Australians are also increasingly becoming interested in Forex trading. FxPro aims to offer reliable services on local terms.

FxPro Australia is open 24 hours, 7 days a week. The local subsidiary offers Aussie clients complete access to FxPro’s online, mobile, and desktop trading platforms. Aussies can also get fast and easy access to the broker’s 60 top trading currencies. The subsidiary also offers Aussies access to MT4 and cTrader software (with the Electronic Communication Network solution).

Australian Regulations and Licenses

FxPro is licensed under several state jurisdictions. In Australia, it’s authorised by the Australian Securities and Investment Commission (ASIC) under the license number of 405750. The ASIC allows FxPro to advise and cooperate with clients:

“in relation to foreign exchange contracts and derivatives.”

In addition, FX is licensed in the UK under the FCA and in UAE under the Dubai Financial Services Authority. The governments of Cyprus, the Bahamas, and South Africa have authorised the broker to operate in their nations as well.

FxPro is not CFTC regulated in the US or IIROC licensed in Canada. FxPro is not a listed publicly traded company.

Features of FXPro

The broker FxPro offers CFDs for 6 primary assets. These are:

  • Forex
  • futures
  • shares
  • spot indices
  • metals
  • spot energies.

CFD brokers allow investors to speculate on price changes for a certain financial instrument. Investors can thus profit without actually owning the profits. An alternative to FXpro is Xtrade Australia.

The broker promises high levels of liquidity and trade execution without intervention to clients. Moreover, the broker insures all client funds in major international banks. Client money is kept separate from company money to ensure trustworthiness and assurance.

FxPro offers several different types of account to clients depending on the trading platform. Users can start trading with a minimum of $1,000 on the cTrader platform. On MT4, the minimal is $500. The minimal deposit amounts are much lower: just $100.

Professional traders have a unique account option called PAMM. It allows a single trader to manage several accounts for other traders. High-rollers can choose VIP packages that charge zero deposit fees. VIP accounts also get a free VPS service and margin level alerts.

FXPro Commission Fees

FxPro’s spreads are considerably competitive. However, this depends on the platform. The spreads are better on the cTrader compared to other platforms it provides. On cTrader, a standard lot transaction incurs a $4.5 commission fee.

The broker offers a floating rate model for MT4 and MT5 trading platforms. Spreads here depend on the type of execution, though they can be roughly the same for both market and instant execution. On average, commissions for all-in spreads average around 1.53 pips. The pricing follows the standard trend compared to other brokers like Forex.com and Saxo Bank.

Trading Platform

FxPro has dynamic and innovative trading platforms. The MT4, MT5, and cTrader platforms are highly user-friendly. The platforms are designed to be simple and efficient for both professionals and beginner traders.

The automated trading systems offer a diverse array of asset classes and pricing options. The platforms are available in desktop, mobile, and web-based versions. Trading platforms allow users to choose between the type of spread and the type of execution.

It should be noted that not all platforms are available on multiple versions. MT5 is only available on desktop and mobile. MT4 has a “light” web version of the desktop version. cTrader is available in all three versions.

Overall, FxPro trading software is highly responsive and versatile. The mobile trading platforms are particularly convenient and are highly regarded. The mobile apps are available from third-party developers, however.

It should be noted that some features are not in-built to the trading platforms. For example, pricing and reporting features are not native and have to be customized by the user. New users may struggle in this regard.

Clients can try any of the trading platforms in a demo version. This doesn’t require making real trades.

FX Pro Australia Pros and Cons

FxPro doesn’t face major criticisms. However, some have pointed out that the type of platform in use affects trades. For example, how a margin call is handled differs on cTrader from MT4.

The type of account can also trigger different margin requirements. An account with high leverage options could suddenly stop on cTrader (but not MT4). Some accounts may be subjected to re-quotes without warning. But this type of problem is not unknown among other trading platforms that follow similar execution.

Pros and Cons

These are the main overall benefits of FxPro:

  • Highly trustworthy and regulated in Australia
  • Variety of CFD options
  • Client funds segregated and insured at major banks
  • Dynamic trading platforms
  • Highly regarded mobile apps
  • Demo of trading platforms available
  • Competitive spreads

The biggest downsides of FxPro:

  • Trades may occur differently depending on the platform in use
  • Account type may affect trade execution

Should Australian Traders Register on FXPro?

All in all, FxPro is a highly reliable and trustworthy CFD broker for Australians. FXPro has an Australian license and local clients can enjoy the offers uniquely tailored to them.

The broker offers an excellent trading platform with corresponding mobile apps. Leverages are competitive and options are many. It looks like FxPro does deserve the hype of being the best Forex broker in the world.

xtrade australia

XTrade Australia

Is XTrade available to traders for Australia?

When it comes to trading brokers, one of the top requirements is versatility and support.

If this is something you value, Xtrade will quickly become one of your favourite brokers.

Of course, these aren’t the only advantages offered to you by this broker.

XTrade does not accept Australian traders. But don’t worry because there are top alternatives like Highlow (AU regulated broker).

Unfortunately XTrade does not accept traders from Australia. Read this XTrade Australia review to see what are the alternatives.

Why Are Australians Not Accepted On XTrade?

The reason why Australia is not among the accepted countries on XTrade is that the broker does not have an Australian ASIC regulation. Here is a list with ASIC regulated brokers.

Luckily there are more than enough brokers for Aussie traders (for example Highlow).

What Does Xtrade Offer

xtrade appApart from the ETFs, this broker tends to offer CFD services for each of its instruments. The upshot of this is that you don’t have to physically own any of the assets that you want to trade with. Rather, you have the option to make a profit from the price movements alone.

There are some perks to trading these CFD-based assets with this broker. Namely, you don’t have to pay any commission and you get to enjoy fixed spreads. Also, leverage makes it easier to expand your position. Here are the conditions for each of the CFD instruments offered by this broker:

  • Indices: here, you get access to some of the biggest indices on the global market. You can also view real-time and continuous index rates, ensuring that you know how to open and close your position.
  • Commodities: there are so many different commodity assets to select from with this broker. These include soft assets like coffee and cotton as well as crude oil and metals. There is also the option to predetermine your market position as well.
  • Shares: here, too, you get access to shares in the global market, allowing you to make a profit without having to invest as much money. By setting automated limits on your trades and predefining your profits and losses, you can lower your risk level.
  • Forex: you have the opportunity to trade with major currency pairs, with the benefit of fixed spreads to boot. Traders also receive quite a bit of trading support and access to up to date information, making it simple for you to improve your position.
  • Cryptocurrency: you can engage in one of the most contemporary forms of trading, without having to take responsibility for the actual ownership of the cryptocurrency.

The Platform

There are two options when it comes to trading platforms – MetaTrader4 and the Xtrade WebTrader. The MetaTrader4 is one of the more popular platforms around and it isn’t difficult to see why. Its user-friendly features make it a good option for both novice and seasoned traders alike. To top this off, partnered with Xtrade, you also get to enjoy top-notch features like one-click trading and full Expert Advisor functionality. There are also lots of technical analysis tools to select from, allowing you to determine your position in a much more informed manner.

As for the Xtrade WebTrader, this negates the need to download any software. Instead, you can simply access this platform from virtually anywhere so that your trading has no limits. This isn’t the sole feature of the platform, however. For instance, this platform gives you access to highly accurate and up to date market analysis. You can also execute trades more efficiently and quickly allowing you to open and close positions that much better. There are also mobile versions of this platform, allowing you to trade on the go.

The Accounts

There is technically only one type of account you can open with this broker. The advantage of this, of course, is that you will not have to wade through a number of different terms and conditions to understand just what the advantage of each account is.

Another benefit of this account is that it is completely free to open and register. As you can imagine, though, you can only really begin trading once you have made a deposit. In addition to the main trading account, you also have the option to open up a demo account. This is activated as soon as you open a regular account. Nevertheless, the activation is subject to a minimum deposit.

If you don’t want to open up a regular account, you still have the option to only activate a demo account. However, the demo account that is opened alongside the regular account doesn’t have an expiration date.

Trading Support

When you open an account with this broker, you can expect a fair amount of trading support. This is largely in the form of technical analysis features. You are able to view economic calendars as well as receive Autochartist market news and reports. It is due to these elements that you will find trading with this broker to be highly accurate. All the trades you place can be verified to a significant extent.

XTrade Educational Materials

One of the features that really put this broker on the map are the educational materials. There are so many to choose from that you will find it easy to build yourself up from scratch, even if you are a novice trader. The beginner’s course, for instance, teaches you everything you need to know about forex trading as well as the forex market.

It isn’t just information on forex that this broker provides you with. You can also learn about commodities, cryptocurrencies, and trading CFDs. So, regardless of what you want to learn, you will be covered.

Yet another advantage is that the educational courses are offered in different ways. For instance, if you prefer a more traditional way of learning, there are comprehensive e-books that you can refer to. If you like something that is more interactive, there are plenty of video tutorials to select from as well.

XTrade Regulations

Now it should be noted that the brokerage is registered in Belize. This isn’t something to be alarmed about, as it is still registered. Instead of the ASIC, though, the broker is authorised and registered by the International Financial Services Commission in Belize. As a result, it needs to adhere to certain requirements and standards, if it wishes to maintain its license.

The above factors are the main elements you need to know about this broker. Unfortunately XTrade does not accept Australian traders, but maybe the will have an Australian ASIC license in the future. We will keep you updated.

By going through them, it is easy to note that this is a legitimate broker that has a suitable number of features for all kinds of traders to enjoy.

losing streak

Binary Options Losing Streaks

It is not something that traders like to think about but it is a natural part of the trading system. You win some, and you lose some.

The losses can be more deeply ingrained than the wins, however, and they can certainly hurt a lot more. Therefore, it is quite common for people to get frustrated and even turn their backs on trading completely.

Although it is not easy, there are ways of dealing with a losing streak with binary options trades. Here are some helpful tips to help you through this turbulent and disappointing time:

Examine the Streak

The first thing you need to figure out is just why you are ending up out of the money on all of these trades.

It could be that the market is simply not favorable towards your asset or that there is a great deal of volatility. Perhaps you are deviating from your trading plan or are not using the strategies that you typically do.

It can be difficult to admit to yourself when you have made a mistake. It is important to do, however, as it can help you learn from the error and make the necessary changes to improve the circumstances.

What is really essential is that you don’t just keep making the same mistake over and over again. You should also keep in mind that rarely is there just one aspect at fault. It is more likely that several factors are responsible for your current downfall.

Go Back to Your Demo Account

Clearly live trading is not working out for you so it is time that you take a break from that.

This doesn’t mean that you have to give up on trading altogether, however. Rather it is about reassessing the way in which you are placing your trades. It is also a good way to evaluate your strategy.

By using it in a non-risk environment, you are better equipped to determine if there are flaws in your strategy. It may turn out that you simply have been using the wrong strategy for the wrong trades.

Take a Break

As hard as you may try, it can be difficult to not let a losing streak get to you. This can cause you to doubt your strategy, yourself, and the entire form of trading.

This is why, every now and then, it can be good to take a little break. Sometimes you just need a week or two to help you clear your mind and get your head back in the game.

This also helps you get some fresh perspective on your situation. Even if you continue to experience losses, it will be a little easier to bear with them as they will not have been back to back.

Manage Your Money Well

One of the biggest risks with losing streaks is that you can stand to lose all of your money. As tempting as it may be, avoid pouring in additional money to stem the loss. Instead, continue with your money management strategy as long as it is a safe and logical one.

Of course, if your funds are running low, you may want to reduce how much you are placing on each trade.

This is quite important if your strategy carries a high amount of risk. If your strategy is not quite so risky, you don’t have to lessen your investment by all that much.

These are some pointers for dealing with a losing streak with binary options trades. You need to remember that this streak will not last forever. Eventually, you are going to start placing in the money trades and making a profit once more.

forex education australia

Forex Education Australia

Forex trading in Australia starts with Forex Education.

There are a number of advantages of forex trading including low transaction costs, a 24-hour market, and the ability to use leverage to boost your position.

At the same time, all these benefits are of little use, if you don’t have the proper forex education. Understand, the entry position of forex can often make it seem like anyone can engage in forex trading.

While this is more or less true, it is only the educated trader that can actually make a profit.

Of course, since there isn’t a university for forex, many new traders might feel confused about how to learn to trade forex. Well, there are, in fact, quite a few avenues to select from. So, without any further ado, here is what you need to know about forex education:

Forex Trading Education in Australia

The first question that most would-be traders have regarding this form of trading is, “what is forex and how does it work?” So, let’s start at the very beginning and define this form of trading. Simply, forex trading is the buying and selling of currency.

Now, when it comes to forex, the value of one currency is determined against another. It is how the value of the currencies are established. This is why you will find that traders buy and sell currency pairs. So, when buying and selling currencies, this is what it will look like:

Value = base currency/quote currency

An example would be AUD/CAD = 0.95 (one Australian dollar is equal to 0.95 Canadian dollars)

How Trading Works

The next part of the question involves how this trading actually takes place. Well, in this case, the first thing to understand is that the forex market is an international one. As such, there isn’t a central marketplace but rather transactions taking place across computer networks. These transactions are known as electronic over-the-counter transactions.

The benefit of such a network is that there are few limits on the trades. You will find that they take place across most time zones, twenty-four hours a day. Forex trades can also be placed for five and half days of the week as well.

What You Need to Begin Forex Trading

The next question that the hopeful trader will ask is “how do I get into forex trading?” Unfortunately, the answer to this particular query isn’t quite as clear cut as many potential traders might hope. Although technically, what you need to start trading is capital and a broker, these aren’t going to help you get far. Check out our Australian Forex Brokers page.

Without the right knowledge to back you up, you can essentially end up losing all your money. So, before you place your first trade, you need to put in the work and actually learn about forex trading.

Where to Learn About Forex

As mentioned, most people are confused about where they can learn about forex trading. Fortunately, you can glean everything you need to know without leaving the comfort of your home. There are a number of forex education websites that give you information regarding every aspect of trading.

As you can imagine, though, not all these sources are equally good. To be on the safe side, you need to be careful about just where you get your information from. There are two ways to do this – stick with educational websites or look for a good broker.

The first avenue is fairly common as there are plenty of financial-related websites around. The issue here, of course, is that the information can be quite disjointed. You also have to do a fair amount of searching to find what you need.

Related:

If you want to learn forex trading step by step, the best thing to do is find a good broker. The top forex brokers have plenty of educational resources for you to look through. Best of all, these are often organised in the form of e-books or tutorials. As such, they are easier to go through and understand.

Naturally, the next query you will have is “what is the best forex broker for beginners?” Since there are so many brokers to select from, it is best if you stick with well-reputed platforms like etoro. Not only are the interfaces simple enough for novices, but this broker also has lots of educational resources. You will find there is a Training Academy that you can join as well as plenty of webinars.

What to Learn About Forex Trading

Now, forex trading is a lot more complex than many people imagine. So, there are quite a few topics you will need to delve into before you are ready to start trading. Nevertheless, here are some of the key points you need to understand:

  • Know How to Manage Capital: if you want to be a successful trader, you need to know how to manage your money. One of the first things you should learn is how to calculate the right amount of money to place on any trade. Also, know how much capital to retain in your account to avoid too many losses.
  • Understand Trading Spread: the difference between a currency’s ask and bid price is known as the spread. Of course, with forex, you need to take into account how two currencies will perform against one another. Therefore, you should always have an understanding of the current and future spread.
  • Calculate Possible Profit: on this note, you should have some idea of what your possible profit should be. It is important that you carefully select your currency pairs so that when you do so, there is a high chance of you making a profit at a later date.
  • Take Risk Into Account: as with any form of trading, there is always a certain level of risk associated with forex. While this shouldn’t discourage you from trading, it does help to consider this risk when placing your trade. This way, you will be able to limit just how much you lose in any situation.
  • Use Leverage Wisely: forex brokers offer leverage which, in turn, lets you buy a lot more currency than you typically could. While this certainly does provide you with an advantage, it could also set you up for disaster if the trade goes badly and you can’t cover the leverage. Fortunately, you can avoid such a scenario by staying well within your means.

These are the top things you need to know about forex education. Once you have mastered the most important factors, you will discover that it is a lot easier to be a successful forex trader.

Bell Direct Australia

Bell Direct Australia

Bell Direct Australia offers margin trading as part of a well thought out investment strategy.

The Australian-based company can give locals access to both native and global markets.

The company boasts impressive benefits and many accolades. Is the hype really all that? Read this review to find out.

What Is Bell Direct Australia

Bell Direct is the trading arm of the Bell Financial Group. Other companies in the group include Bell Potter Securities and Bell Potter Capital. The broker was founded in 2006 by Arnie Selvarajah, who now acts as CEO.

The broker offers financial products for margin lending as well as cash management. The company prides itself in offering “integrated and competitive account management” services. Bell Direct services are complemented by financial research conducted by Bell Potter, the capital arm of the company.

Bell Direct is licensed in Australia and is regulated by the ASIC. The license number of the company is AFSL 314341. The company is a trading participant of ASX Limited Group and Chi-X under this license. Bell Direct cannot provide customers with investment advice. ASIC warns clients to consider “own financial situation” before trading on platforms like Bell Direct.

Financial Instruments on Offer

You can trade any of the following financial instruments with a Bell Direct account:

  • Any equity or security listed under ASX
  • Interest rate securities
  • Stock options
  • ETFs
  • Managed Funds
  • Warrants
  • Exchange Traded Bond units (XTBs)
  • IPOs

In addition, customers can create a margin lending account. The broker offers a personal trading fund management option via a tool called mFund. Bell Direct offers a 1-second placement guarantee for all ASX securities.

Trading Options and Fees

Clients have multiple trading options with a Bell Direct account. For example, Aussies with SMSF plans can invest with Bell Direct using these plans. The broker offers separate services for including margin trades in SMSF plans.

Customers can conduct ETO trades too. The company facilitates both online and over-the-phone trading. Their platform accompanies a mobile app for trading on the go.

Related:

Bell Direct fees are highly competitive and are much more reasonable compared to similar services. Their commission fee is just $15 for trades up to $10,000. For $25,000 trades, the commission fee is $25. There are frequent trader discounts on offer. If you place at least 10 trades per month, the commission is only $13. If you place more than 30 trades per month, the commission is just $10.

Bell Direct may charge commission fees as a percentage as well. If the number of trades exceeds 10 in a month, the commission may be the flat amount described above or 0.08%. The company charges whatever is higher. A good alternative to Bell Direct is Admiral Markets.

There are separate charges for ETO and mFund trading. The commission starts at $30 for both. The commission fees vary between online and phone trading types. Commissions for online trades are cheaper. But you may be charged as much as $60 for certain types of phone trading.

Overall, the company is highly transparent regarding fees and charges. You can check out a table of commissions online. Bell Direct fully discloses all charges in detail.

User-Friendly Features

Clients who open accounts on Bell Direct Australia, can benefit from the following:

  • Financial research—Clients get access to broker research conducted by the Bell Financial Group. These include detailed market reports, financial indicators, and key measures from Morningstar. Clients can get recommendations from 20 professional brokers. Reports also include business news and announcements from ASX.
  • Trading ideas—These are suggested from Bell Direct for either bullish or bearish trading. The information is based on Recognia chart patterns. You could get six per day directly in your inbox. Alerts are mailed at a time most convenient for clients, such as in the mornings.
  • Tax reporting—The annual financial report from Bell Direct includes all the information you need for filing taxes. The year-end report will include details like holding valuations, sample reports, and account summaries for dividends and cash.
  • Mobile apps—Use the corresponding mobile apps to trade en route. The mobile app includes tools to track your investment portfolio and to for getting stock quotes.
  • Trade charting—The latest feature from Bell Direct is an HTML5 charting tool. This interactive program allows clients to chart data for better understanding of finances.

Customer Service

Bell Direct gets rave reviews for its customer service. Unlike most companies, Bell Direct isn’t reliant just on live chat. Clients get an array of options to seek support, including email, live chat, online message, phone, fax, and snail mail.

Response time is reasonable and quite fast. Expect a response within one or two business days, depending on the mode of communication you choose. The quickest way to get help is via online chat. The company uses an actual customer representative instead of a bot for online conversations. As a result, the quality of support is very high.

Bell Direct Australia – The Downsides

Previous customers have complained about certain account-related technical issues using the service. Minor things could cause problems for clients. For example, if you need to change your address, there’s a formal, paper-based process that can take some time. It can’t be done quickly online or over the phone.

The trading platform is not as smooth as what some other brokers offer. Trades may take up to 3 days to settle. The Bell Direct platform is suitable for basic trading. But it may feel clunky and slow if you are a high rolling trader.

Unfortunately, Bell Direct doesn’t offer cryptocurrency trading options. Bitcoins and similar digital currencies are not part of Bell Direct’s financial instruments for profiting from price movement.

Conclusion

Bell Direct offers a number of useful features for new investors. The company offers sophisticated trading tools that are not usually offered by competitors. Bell Direct is transparent about commissions and is licensed in Australia. These are the main strong points.

The company has some weaknesses as well. However, overall, Bell Direct stands out as a marginal trading broker for casual and professional investors. The prices are highly reasonable compared to those of close competitors. Users can benefit from reporting tools as well. Therefore, you should definitely give Bell Direct Australia a try.

buying ripple in Australia

Buying Ripple in Australia

Ripple is one of the most popular up and coming cryptocurrencies in Australia. Buying ripple in Australia is easy and there are so many exchanges to choose from.

Browse this guide for reliable information on how to invest in Ripple as a cryptocurrency.

Online Brokers That Have Ripple

Plus500

Plus500 is a leading broker for CFDs. They offer Ripple as a tradeable cryptocurrency. In fact, you can purchase Ripple on leverage with Plus500.

Buying Ripple as a currency on leverage is different from purchasing coins outright. When you purchase on leverage, you are only paying a marginal amount. You won’t own Ripple as an asset, but you can profit immensely from the price fluctuations.

Plus500 offers Ripple with a 1:30 leverage at maximum. That means you could potentially spend $100 and turn a profit of $3,000.

It’s important to note that Plus500 facilitates Ripple CFDs. That means you can profit by speculating on price movement for the cryptocurrency. You won’t actually buy and own Ripple coins. The advantage here is that you can spend less money on crypto and still profit a lot.

Plus500 is not necessarily a Ripple exchange. You don’t need a special crypto wallet or an exchange account to profit from the crypto. Despite that, you can trade Ripple by either buying or selling. The broker is open to transactions during all hours of the day, all year.

Other perks Plus500 offers users:

  • A licensed and regulated trading platform
  • A simple and intuitive user interface
  • Negative balance protection
  • Online customer support
  • Competitive spreads
  • Full disclosure on commissions

eToro

eToro is an online trading platform for a number of financial instruments. The broker also offers crypto investments as CFDs. You can’t buy Ripple coins directly from eToro as an exchange. Rather, you can speculate on the price movement for the cryptocurrency and profit.

etoro australia ripple

The broker offers many options for those who want Ripple CFDs. The options are beneficial considering that the crypto market is ever expanding. Prices are ever more volatile as well. In this environment, eToro can purchase Ripple coins on the behalf of the user. However, in Australia, eToro only offers Ripple as CFDs.

eToro is not based in Australia, but it has an office that is regulated by the ASIC. All Ripple trades fall under ASIC rules thus. Users should know that only short-seller Ripple positions are regulated by ASIC in Australia. Long-term Ripple purchases are unregulated. You may not be given investor protection for buying and holding Ripple coins.

The crypto market at eToro is open 24/7 with customer support. You have the option of trading online or using the corresponding mobile app.

Here is an overview of advantages eToro offers to Ripple investors:

  • Regulated Ripple-based CFDs
  • Great spreads
  • 24/7 open market
  • Attractive and user-friendly online trading platform
  • Well-regarded mobile app for on-the-go trading
  • Fully disclosed terms and conditions

You can choose either broker to short-sell Ripple coins or profit from a CFD. Choose the best platform that matches your interests.

What is Ripple?

Like its more famous counterpart, Bitcoin, Ripple is a cryptocurrency. However, Ripple stands out because it’s both a digital currency and a trading platform. You can execute transactions on the Ripple platform, often quicker and far cheaper than at a bank.

The Ripple currency is formally known as XRP. The platform is known as the RippleNet. But investors usually use Ripple to mean the cryptocurrency as well.

XRP coins can be used as a financial instrument to invest in, just like other digital currencies. However, the RippleNet trading network executes conventional money transactions. The RippleNet comprises banks and businesses that send money internationally. Ripple facilitates these transactions more efficiently than regular transaction providers.

The value of Ripple XRP is based on such transactions that occur across the RippleNet. Compared to Bitcoins, Ripple is considered more “power safe.” That’s because the RippleNet is designed as a day-to-day transaction platform.

Ripple was designed for banks, unlike other cryptocurrencies. There are fewer regulations for Ripple as a result. For a minimal commission, Ripple can be exchanged for valuable assets like gold too. There are conventional banks Ripple coins can be taken to, like Union Credit and Axis Bank.

Investors prefer Ripple because it is preferred by some banks. Ripple doesn’t originate from a dubious company or an unreliable start-up. They aren’t mined daily either, unlike Bitcoins. Ripple coins already exist. This protects this cryptocurrency against inflation.

Hard-core Ripple fans hope more banks would start using Ripple for transactions. It’s possible that all banks could use Ripple as a single currency for transactions, making all other currency exchanges worthless. If that happens, Ripple investors would certainly make a fortune.

Is It Legal To Buy Ripple in Australia?

Yes. There is nothing illegal in buying or trading cryptocurrency.

How to Buy Ripple in Australia?

RippleNet is used by some banks, but Ripple XPR coins can’t be purchased at banks. As with other cryptocurrencies, you need to find a digital currency exchange to purchase Ripple coins. Australians would need to seek an exchange that services clients from the country. Due to regulatory limits, not all crypto exchanges are open to Australian clients.

There are two ways to purchase Ripple coins: individually and via a broker or a fund.

When you purchase Ripple XPR coin individually, you are purchasing an asset. You would then own the coins for buying and selling later. To purchase Ripple coins, you need a digital currency “wallet” that is suitable for keeping your coins. Get a Ripple-compatible wallet and set it up for your account.

First, protect your Ripple wallet against spam attacks. Then, you can proceed to create a Ripple coin address. This acts as your account number. Finally, choose an exchange and purchase Ripple coins. You can buy using credit cards, debit cards, PayPal and even Bitcoins as the exchange allows.

Buying and owning Ripple has its downsides. Mainly, the digital currency might be prone to hacking attempts. Your wealth will depend on the safety of the wallet.

There’s a more hassle-free way to invest in Ripple coins—via a broker or a trade funds. Some of these allow you to purchase and sell the coins quickly. Better yet, you can invest in a Ripple CFD. These allow you to speculate on the price fluctuations of Ripple. If you speculate correctly, you can profit.

The below Ripple brokers allows you to speculate on price movements for Ripple. You can avoid actually owning the coins as an asset.

admiral-markets australia

Admiral Markets Australia

Some users asked us: Is Admiral Markets available in Australia?

With so many brokers to choose from, it can be quite daunting to determine just which brokerage will serve you best. Well, in your search for a great broker, you really should consider Admiral Markets Australia.

They are reliable, maintain consistent standards, and have plenty of features that cater to a wide variety of traders. To see just what it is that this broker has to offer you, keep reading.

Does Admiral Markets Accept Australian Traders?

Yes, Admiral Markets does indeed accept Australian traders. On Admiral Markets you can trade Forex, Cryptocurrencies and CFDs on energies, metals, indices, stocks, bonds.

Admiral Markets Australia Review

One of the ways that this broker is versatile is with the number of instruments that it provides for traders to trade with. The main options here are forex, commodities, and CFDs. With forex, you have the opportunity to trade with up to 40 currency pairs. To add to this, you get to enjoy leverage up to 5000:1 and spreads starting from 0 pips.

With commodities, you get to trade with top-notch assets like gold and WTI oil, ensuring that you stay up to date with global markets as well. Here too, you get leverage up to 500:1 and best of all, you don’t have to pay any commission.

If you are not interested in owning assets but rather trading according to the price movements, then CFDs are the option for you. Admiral Markets lets you choose from quite a few choices including shares, indices, and ETFs. To take a closer look at what assets you can select from, check here:

  • Shares: you can leverage up to 1:20, go long or short with the trade, and can earn dividends.
  • Indices: you can leverage up to 1:500 and when you trade, there is no trade expiration or commission.
  • ETFs: you can leverage up to 1:20, trade in any direction, and earn dividends even though you don’t own the asset.
  • Bonds: you can leverage up to 1:200, go long or short on trades and don’t have to pay commission
  • Cryptocurrency: with this more modern option, you can leverage up to 1:5 and have the freedom to trade in any direction as well.

One downside of Admiral Markets is that it does not have Paypal as payment method.

Broker Trading Platforms

This broker relies heavily on the MetaTrader trading platform. This is good news for all traders as this is a highly renowned platform. Now, this broker takes things up a notch by giving you access to numerous versions of the MetaTrader platform. They are as follows:

MetaTrader4

One of the reasons that MetaTrader4 continues to be a favourite with traders is largely due to its user-friendly layout.

admiral-markets-mt4

This makes it simple for traders of all levels to place trades easily and with little hassle. Another draw is the fact that many of its features are customisable, allowing you to personalise the platform to suit your trading style a little better.

MetaTrader5

MetaTrader5 is also a common preference among traders, particularly those who have a little more experience when it comes to trading. A top benefit with this platform is that it boasts superior charting. As a result, this makes it simpler for practiced traders to determine the market situation and to place better trades. To add to this, there is plenty of free market news and data features as well.

MetaTrader Supreme Edition

MetaTrader Supreme Edition isn’t as well known as the platform versions above. However, it is excellent for professional traders who are in need of more advanced tools. One of the things that set this platform above the others is that its charting capabilities are truly wonderful. So, any trader who relies heavily on charts will be able to use this platform to their advantage. The trading simulator also makes it useful for testing out trading strategies.

MetaTrader WebTrader

This version lets you trade from the browser without the need to download the software. Therefore, it is incredibly easy to trade from virtually any machine, regardless of your operating system. Not to mention, you can still have access to all of the platform’s traditional features.

Admiral Markets Account Types

This broker lets you select from three different account types. Now, the minimum deposit for all of these accounts is $100. However, each of the accounts has been arranged so that it is better suited to different types of traders.

Admiral.Markets

If you prefer using the MetaTrader4 platform but still want access to a large number of instruments, then this is the account for you. Here, you can have an account balance in a number of different currencies. Furthermore, you can select from 31 currency pairs, 5 cryptocurrency CFDs, 5 spot metal CFDs, 3 spot metal energy CFDs, 16 cash index CFDs, 4 index futures CFDs, 64 stock CFSs, and 2 bonds CFDs.

Admiral.Prime

If your main focus is with forex trading, then the Prime account will suit you well. Here, you have access to 44 currency pairs. However, there is some limit regarding how many options you have with currencies when it comes to your account balance. In addition to the currency pairs, you can also trade with 3 spot metal CFDs on MetaTrader4.

Admiral.MT5

This is a good account if you are a slightly more seasoned trader and prefer using MetaTrader5. In addition to getting access to this platform, you also have a multitude of instruments to choose from. These include 36 currency pairs, 32 cryptocurrency CFDs, 5 spot metal CFDs, 3 spot energy CFDs, 7 spot agriculture CFDs, 16 cash index CFDs, 4 index futures CFDs, over 300 ETF CFDs, and over 3000 stock CFDs.

Australian Regulations and Licensing

Admiral Markets holds an Australian Financial Services License which ensures that it has to meet the requirements set forth by that regulatory agency. As a result, you can be quite certain that all the trades and other services offered by this broker are completely legal.

The broker is also externally audited, guaranteeing that the financial features are up to date and legitimate. This reduces the risk of any scams or fraudulent activity.

Finally, the broker relies on segregated client accounts with the National Australia Bank. This allows you to have peace of mind, even if the broker does undergo financial difficulties. The segregated accounts keep your money separate so that you will always have access to the full amount.

These are the top feature to be aware of when dealing with Admiral Markets. When reviewing these elements, you will know that this broker has something to offer all traders.