If you are frustrated with MtGox or looking for an open market for trading Bitcoin/Litecoin in Australia, please continue reading:
There is a new startup based in Sydney (Crows Nest) who has just launched the first trading/exchange platform in Australia named BTC Markets
www.btcmarkets.netAt BTC Markets our objective is very simple. We're aiming to significantly reduce the cost and time spent dealing with MtGox by providing a more cost effective and efficient trading/exchange platform within Australia.
We believe this has been achieved by providing fast and free deposits/withdrawals, flexible trading fees particularly for Bitcoin traders, quick signup and profile verification, and more importantly convenience of dealing with a local company.
The exchange platform works like Australian Stock Exchange where it maintains an order book of bids/asks so ultimately the price is determined by buyers and sellers (as it should be) and their perceived value of the digital currency.
If you have any questions please don't hesitate to contact us.
Best Regards,
Support team at BTC Markets