RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Ausprime is a Cyprus incorporated, CySEC regulated forex and CFD broker, related to AUSFOREX, an Australian broker with more than 15 years of history, authorized by the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK.
Ausprime has over 90 forex pairs in its portfolio, among which quite a number with exotic currencies, such as Danish Krone, Hong Kong Dollar, Polish Zloty, Swedish Krona, Singapore Dollar, South African Rand, Mexican Peso, Norwegian Krone, Turkish Lira, Czech Krona, Hungarian Forint, Israeli Shekel, Romanian Lei, Russian Ruble, Chinese Yuan and Thai Baht.
Other assets offered by the broker include CFDs on silver, gold, platinum, palladium, natural gas and oil.
Ausprime trading conditions
Unfortunately Ausprime does not offer a demo account and we were nor able to test the spreads first hand. Just have in mind that with a standard account starting spreads are considered attractive only below 1,5 pips, which means that the benchmark EUR/USD spread and USD/JPY spread should not exceed 1,5 pips.
As for the leverage, Ausprime, being regulated by CySEC in Cyprus, complies with the new European Securities and Markets Authority (ESMA) regulations and offer maximum leverage of up to 30:1 – the maximum leverage allowed with forex transactions on the European market since August 2018.
However, if a trader is able to prove he or she has a professional training, the broker may offer more generous leverage levels.
Ausprime trading platforms
Ausprime offers its services with a web based trading platform, which unfortunately we were not able to taste as there is no demo account available. Still, the broker may soon offer a more classic trading solution as well – the MetaTrade4 – a platform well known to most traders for its excellent charting package, numerous customizable market indicators and the option to support automated trading sessions with the help of specially designed trading robots or Expert Advisors. AUSFOREX, the sister broker of Ausprime, offers its clients both MetaTarder4 and MetaTarder5.
Ausprime regulation & safety of funds
Ausprime is owned and operated by Lttrader Ltd, which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) in accordance with the Markets in Financial Instruments Directive (MiFID II).
Besides, as an investment firm authorized by an EU Member State regulator, Lttrader Limited is allowed to offer their services on a cross border basis to all EU Member States that permit forex and CFD trade in their jurisdictions.
The registered CySEC domains of Lttrader Ltd are several – www.lt-markets.com; www.ausforex.eu; www.ausfinancial.eu; www.auscapital.eu; www.ausprime.eu; www.ausmarkets.eu, and here we should note that until July for its brokerage services in Europe the company used www.lt-markets.com. Currently all European clients are transferred to www.ausprime.eu.
As we noted Lttrader Ltd is also associated with the Australian based AUS Capital Ltd. – a company founded in Melbourne back in 2003, which operates AUSFOREX, a forex and CFD broker, licensed both by the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).
Holding a license by a well respected financial authority such as the CySEC in Cyprus, FCA in the UK or ASIC in Australia, guarantees the broker will follow a strict set of financial and ethical rules, among which to allow external audits, to file regular reports, to keep all clients’ money in a segregated, protected form creditors account, to maintain a certain minimum capital adequacy ration and with some regulators even to insure traders money.
Fore example, if you have chosen to invest with an FCA regulated broker, your trading capital will be protected by the Financial Services Compensation Scheme and in the event your broker files for bankruptcy, you will be able to receive back up to 50 000 GBP of your invested funds.
A similar compensation scheme under the CySEC backed Investor Compensation Fund guarantees traders up to 20 000 EUR of their investment.
Ausprime deposit/withdrawal methods and fees
In their presentation Ausprime does not state the payment methods they accept, so here you should have in mind that most brokers accept payments with major credit or debit cards like VISA and MasterCard, bank wire and quite often popular e-wallets like Skrill and Neteller.
Also Ausprime does not mention what is their minimum deposit requirement, but keep in mind that for opening a standard account most brokers require about 250 USD.