Discover Why IC Markets Is The Number One Choice For Forex Trading In Australia

I've been trading forex for more than eleven years, I first began trading back in 1999 when there were no more than a couple of forex providers in Australia, as most of these providers were relatively new and not familiar with handling active investors like myself I was forced to search for a company offshore. After a great deal of searching I was able to locate a broker in Switzerland that was able to cater for high volume traders. It’s only been in the last 6 months that I once again began my search for a good local Australian forex provider and what I discovered was amazing to say the least.

After a few days scouring the net I noticed that the forex landscape has changed dramatically, there is allot more choice than there use to be. Previously there we only really 2 major forex brokers and both of them were market makers, of course the days of forex trading desks is over, nearly all providers now offer straight through processing many of the top tier companies even have an ECN forex offering.

I downloaded quite a few trading platforms, when I say a few I mean my monitor was covered with shortcuts to almost every single trading platform obtainable. Many platforms offered by providers were web based, though web based platforms may initially appear simpler to utilize as no software needs to be downloaded they often lack the superior charting functionality of downloadable trading platforms and as a professional trader I can tell you that superior charting is important.

After road testing all the online trading platforms that I had installed I discovered that a good number of them were not really made for professional users. The spreads on most of the platforms widened dramatically over news periods, although this is not uncommon as this is often when the market is the most unstable, I actually didn't expect the spread in EUR/USD to widen by 35 pips. Some of the broker platforms had fixed spreads, however I actually noticed a worse problem with these guys, their prices simply froze and I could not place any orders or get out of my open positions, in actual fact twice the platforms simply crashed.

Of all the forex trading platforms that I trialled two were in fact ECN’s or electronic communication networks. An ECN is basically a mini marketplace where the forex provider permits numerous banks to quote prices flowing into their trading platform. ECN providers regularly have very tight spreads and far more transparent pricing than fixed spread providers and market makers. When trading with an ECN broker you will find that your spreads will not dramatically widen over news periods, the main reason for this is that with a lot of banks taking part in the price creation it is expected that there will be buyers and sellers even during market volatility.

It goes without saying as an expert trader my favored choice is an ECN forex broker, out of the 2 that I found in Australia I found that only one of them constantly had tighter spreads than the other on all the key currency pairs. I would say that this is because they almost certainly have more liquidity providers providing them with prices.

To cut a long story short I ended up deciding on IC Markets, it actually wasn’t a hard choice as IC Markets were really the only provider that could give me consistently tight spreads even throughout news announcements in addition to a stable trading platform. So far so good, I have been trading with them for about 3 months now and have had no problems. As their spreads remain tight over the news I have had many more buying and selling possibilities than I'd have had with the other providers. If you are in the market for a dependable forex provider who's an ECN and can offer razor sharp spreads I can definitely say that form my experience IC Markets is the very best out there.

Article Source: http://www.gamblingarticlessite.net

Marcus Murphie is a professional forex trader with many years experience. Allthough IC Markets is Marcus's www.icmarkets.com.au/forex_ic_markets.html>">forex company of choice you ought to do your own research and trial a few trading platforms before you make a selection. Marcus has also published many articles on trading the majority of which you can acquire on his www.icmarkets.com.au/forex_ic_markets.html>">forex trading blog.

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