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Australian Forex brokers advantages

FOREX brokerage businesses are now international enterprises due to the internet. However, if you want an Australian broker nearer to your home that you can trust, then we have reviewed some of the most prominent ones. These reviews are based on the websites of the FOREX brokers as well as comments from users of these brokers' services obtained from blog posts.

Halifax

Halifax's amazing FX platform (Halifax Trader) has won recognition internationally as the "Best in class" retail platform from FX Week and Euromoney. This intuitive trade tool provides the following advantages:

• Flexibility of trade with over 150 currency crosses possible.
• One of the best pricing from top liquidity providers.
• Financial news available continuously from top sources such as the Dow Jones Newswire and MNI.
• Charting and technical analysis tools.
• Market information is constantly updated by analysts and experts.
• Chat function enables discussion of the trader's strategies and trade ideas.

In addition to these, Halifax offers very low margin rates that enable leveraging up to 100 times for the first $25000 invested. Halifax is one of the first platforms offering streaming FX instruments. Traders are able to trade on the prices they see and receive immediate confirmation of the completion of trade.

GoMarkets

GoMarkets is armed with the world's most popular FX trading platform: Meta Trader 4. This platform is fully equipped with such intelligent trading tools like the automatic trading robots, customisable indicators, price alerts…etc. It is also available on Smartphone and PDA. GoMarkets provides execution without a dealing desk so that the trader can be certain that his broker is his best friend in the business. GoMarkets offers very competitive prices and the trade execution speed is very commendable. GoMarkets claim that there are never any re-quotes as all trades are automatically executed. Another advantage is that GoMarkets offers very decent spreads (as from 0.5 pips). The 5 decimal place system used on the platform offers much better deals to the trader than with other brokers. The traders have a personal account manager, which ensures personalised service. GoMarkets follows Australian regulations.

CMC

We shall not digress too much on this firm as there are some pretty bad reviews by users of this broker. Although UK-owned, CMC has extensive operations in Australia and until recently was present in the US too. The company has announced via its website that its US operations had been winded down (maybe because of its bad reputation?). Anyhow, users of CMC have reported very unethical behaviour from the company. Complaints included downright lies from company reps and lost investments. Yet CMC is one of Australia's biggest CFD providers and one of the first CFD companies to open operations in Australia. The company claims that two-thirds of Australian CFD traders trade with it. An advantage of the company is that it has offices across Australia: Melbourne, Sydney, Brisbane and Perth.