londonboy replies to: Looking for an ASIC broker that is equivalent of LMAX


{quote} You mean reviews left by amateurs on ForexPeaceArmy? Global Prime is no match of ic markets. of course its not a match of lmax. in my view global prime is worse than both pepper and ic markets coz slower execution more slippage and wider spread. global charge the same commission as ic but a small hidden markup is added to the spread. do not be fooled by online promotions. LMAX execute orders in and around 5 ms ic markets execute orders in and around 40 ms. global prime do it in and around 80ms. thats right you pay commission to lose more…

So instead of taking the advice of amateurs on FPA he/she should take the advice of an amateur like you then?

To the original poster the ONLY way to see which broker fits best with you is open a live account with them all, run the same strategy for a couple of months and compare the results. They will all be slightly different.

I have used IC markets for donkeys years and global prime for just over 2 years. I like both for different reasons.
IC will give you bigger leverage 500:1 , GP upto 200:1
So that may play a part in your decision.

I wouldn’t bother with pepperstone (if you are trying to circumvent the ESMA rules) as you will have to open an account with them at their UK office NOT their Aus office.

You could also try Vantage FX – They are ASIC and believe they are owned by the same people as GP ( I could be wrong though)
An alternative is Synergy FX – I have just started using them to see if they are a worthwhile replacement for . I hate putting all my eggs in one broker, so trying out alternatives to IC Markets and GP that aren’t covered by this ridiculous EMSA ruling.

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