Australian (ASX) Stock Market Forum

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Guys, I have been trading entirely with, as we know, unregulated brokers/exchanges since they provide sufficient leverage but I recently had a friend lose 115K to an unregulated broker, and I am now seeking decent platforms in Australia to feel more secure from the mercenaries out there. Binance no longer offers leverage, and nothing is ASIC regulated but I am a regular crypto day trader.

When I traded FX in past I had a broker updating me everyday, showed me the ropes, got me onto good trades it was awesome but there is not much of this service in Australia what so ever, and I am not willing to put up 180k to some dodgy overseas scammer.

Only one I have come across is easyMarkets, genuine blokes, 50:1 leverage for crypto pros, offered to cut my spreads down to hardly anything as a pro, and since I have some $ and can provide some volume they offered personal analyst n broker. Much like what I used to have but I am looking around to compare it to others and cannot find sh***.

If someone could provide some perspective as soon as they can, would really help, all the best with trading guys.
 
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Welcome to the ASF Forum

Why are you looking for a 50: 1 Leverage with a starting capital of $180,000
Are you saying you only like gambling/Investing with a $9,000,000 starting balance?
or
Have I got the decimal points in the wrong place?
 
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I dont intend to use 50:1 with every trade but through my style of trading 50:1 is very convenient for hedging purposes and margin requirements to prevent margin stop-outs when I do open hedged positions as I also trade indices and other markets, just not as much as cryptocurrency. Most guys here in Aus been offering 5:1, go markets 200:1 but that is not in the best interests of the client and I do not trust a place offering that kind of leverage to their pro accounts.
 
Joined
4 July 2022
Posts
3
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1
Welcome to the ASF Forum

Why are you looking for a 50: 1 Leverage with a starting capital of $180,000
Are you saying you only like gambling/Investing with a $9,000,000 starting balance?
or
Have I got the decimal points in the wrong place?
Sorry I did not include the "reply" in my previous response. However yeah I do not apply my complete balance to trading but instead for margin requirements and professional account status. Also, having an account balance of 180 keeps me (somewhat) in the top tier of traders in brokerages and I noticed they are definitely alot more consistent in helping me when they know I have funds and contribute to their spread volume to assist their commissions.
 
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