As a trader, the worst thing you can encounter is a fraudulent brokerage. Unfortunately, in recent years there has been a spike in the number of illegitimate companies trying to scam investors. So, the biggest decision you can make in the beginning is whether you should trust any brokerage founded in recent years.
When making your choice, you should closely examine every feature a brokerage has to offer and check if there are some irregularities. Our Aussie Trust review aims to discover if this Australian brokerage has any validity and whether it’s worth considering.
You can often tell how professional a brokerage is by looking at their website. Time spent in designing this often translates into how carefully they developed other aspects of their business. Aussie Trust emits a good first impression. Their homepage is clean and easy to navigate, enabling their clients to get anywhere they want in just a few clicks.
A big part of Aussie Trust philosophy is its open-ended nature. While some brokerages do not accept trader from certain parts of the world, Aussie Trust welcomes clients regardless of where they are coming from.
Quality of service
As we previously mentioned, Aussie Trust is open to traders of all experience levels. While experienced traders will feel at home right away, novice traders will experience a slight learning curve. The good thing is that there are plenty of resources on the website for all beginners to properly start their trading careers.
All resources are divided into several categories. Best starting off point would be the Glossary and the Asset index. While the former gives an explanation of all trading terminology you can encounter on the platform, the latter provides detail on all available tradable financial instruments.
When heading to the trading platform for the first time you might encounter much unfamiliar jargon that will halt your progress. In this case, The Glossary will be your best friend. Every piece of terminology is alphabetized so that it can easily be found, and it offers a clear explanation of what it is and how it can be used to your benefit. If you wish to plan out your portfolio in advance, you can head directly to the Asset list. There you can check your favourite asset availability and their trading hours.
If you wish to further expand your knowledge, you should head to the eBooks page. Here you can find numerous eBooks intended for both novice and experienced traders. The topics range from basic technical analysis all the way to advanced strategies eBook. All these are available to all traders, regardless of them registering or not. This is great for traders because they get a great value without being pressured into making a deposit.
Speed of response
Every trader regardless of experience will encounter some issues that they will need help with. The sad reality is that many brokerages cheap out when it comes to customer service, by offering little to no support. To our surprise, Aussie Trust exceeded our expectations in this regard.
There are several different ways in which traders can resolve any potential issues. For instant resolve, there is the FAQ page that covers most of the common questions new traders might have. You can learn how to manage your account, from registration to funding, how to navigate the platform and what is the most efficient way of contacting an Aussie Trust representative.
If you wish to communicate with someone directly, Aussie Trust offers several options. The most direct way is to contact them directly via the phone. Depending on where you are in the world, you can select one of three available locations, based in Australia, the United Kingdom and Sweden. Their agents are professional and very polite, and our experience was a breeze.
For traders who don’t have the time or the means to speak on the phone, there is always the option to write about your issues via email or the provided form on their “Contact us” page. In our experience, the waiting time was exceptional, far exceeding our expectations. While some other brokerages often take several days if not weeks to reply, we were constantly getting a response within 24 hours. What is even better, all those were on point and we were able to get back to trading in record time.
Aussie Trust offers a lightweight platform that can hold its weight against the industry standard Meta Trader solutions. While some advanced features are absent, you will find everything a trader needs within Aussie Trust trading platform. It offers the most popular trading assets divided into categories so that you can easily find your favourites and instantly add them to your portfolio.
Once you have selected your preferred asset, you have access to a range of tools that you can use for analysis and developing your trading strategies. You can find and customise Chart types and indicators, segments, Elliott 3 line, Fibonacci, vertical counters and much more. All the most important info such as sell and buy value, margins, trading hours and leverage is conveniently located at the top of the screen.
The biggest advantage of this light approach is speedy execution. In an industry where everything changes so rapidly, traders need to be able to make quick adjustments. Aussie Trust excels at this. Many times in the past we were victims of slow servers and dreadful platform response times. On several occasions, these bugs have cost us a lot of money. This Aussie Trust review is happy to discover that we didn’t have any difficulties when It came to executions. Everything felt instantaneous and seamless and we would love to see similar results from the rest of the industry as well.
Calculating your trading cost can prove to be difficult. Even those brokerages that are not scammers can have hidden costs that are difficult to pinpoint. Our best advice is to carefully read all terms and conditions before committing to anyone. Aussie Trust has made some great strides toward transparency. We have experienced no unforeseen costs with this broker and that has to be commended.
Traders will have to be aware of three different fee types. For starters, there are withdrawal fees each time a trader wishes to transfer funds from his account to his wallet. In case there are no trades for a period longer than 30-day, Aussie Trust charges dormant account fees. This is nothing to be afraid of, you just need to be mindful when taking brakes from trading. Finally, there are overnight fees. These include a daily charge to each Forex or CFD open position at the closing of trading days.
There is no doubt that security is one of the most important features a brokerage can offer to its clients. Having a peace of mind can be priceless especially when you consider how many scam artists there are in the world. Even though Aussie trust doesn’t offer traditional licenses, there are several things that give them the edge over other brokerages.
Aussie Trust is operating from Australia. If you do some research, you will find out that it is extremely arduous to open up a brokerage in Australia due to harsh local policies. Just by existing, Aussie Trust should be a step ahead of most unregulated brokerages. It is probably due to this fact, that they didn’t bother with obtaining additional licences. While some inexperienced traders might feel discouraged because of this, there is no reason to worry, as Aussie Trust seems to operate completely above board.
Variety of Payment Methods
When it comes to depositing and withdrawing your money, Aussie Trust doesn’t differ much from the industry standards. Both deposits and withdrawals can be made via
- Credit Card
- Bank Wire
- Bitcoin Transfer
For the first two options, efficiency is pretty much dependant on your bank and their ability to quickly execute orders. On Aussie Trust’s end, all requests are processed within the same day. If speed is of great importance to you, then you should probably choose the Bitcoin Transfer option as it pretty much offers instant transfer of your funds.
With everything it has to offer, Aussie Trust can be a great starting point for beginners and veterans alike. This company has been around for several years, and it this time it has earned the respect of traders around the world. Hopefully, this Aussie Trust review has addressed any doubts you might had about trading with this Australian brokerage.