Best Forex Brokers in Australia

Choosing the Best Australian Forex Broker

Trading Forex or Foreign Exchange in Australia is widely popular. As a result of the significant growth of individual traders, we’ve observed an increasing demand for legitimate forex brokers among the country’s residents. Mostly, they look for regulated brokers who are secured, cost-effective, and can afford to provide the best trading atmosphere for their clients.

In this article, we represent an in-detailed discussion about key features you need to look at in 2021 while reviewing a broker. Also, we’ve explained the regulations and trading conditions of the Aussie financial exchanges. We believe our step-by-step guide will help you in finding the best forex broker in Australia.

XM
TradingDominance Score™: 99 / 100
XM Financial Instruments
Forex
Stock CFDs
Commodities
Oil and Energies
Gold
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Social Trading
Islamic Accounts (Swap-free)
Scalping Allowed
Trading API
Trailing Stops
Bonuses
Variable Spread
Allows hedging
Offers STP
Copy Trading
ECN or STP Execution
VPS Trading
Offers MT4
Offers MT5
Account Type
Information
Micro Account
  • Commision: No Commision
  • Maximum Leverage: 1:888
  • Typical Spread: 1.8-2.1
  • Mobile Platform: MT4, MT5
  • Trading Platform: MT4, MT5, WebTrader
  • Spread Type: Variable Spread
  • Minimum Deposit: 5
  • Minimum Trade Size: 0.01 Lots (MT4)* - 0.1 Lots (MT5)
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Standard Account
  • Commision: No Commission
  • Maximum Leverage: 1:888
  • Typical Spread: 1.8-2.1
  • Mobile Platform: MT4, MT5
  • Trading Platform: MT4, MT5, WebTrader
  • Spread Type: Variable Spread
  • Minimum Deposit: 5
  • Minimum Trade Size: 0.01 Lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
XM Ultra Low Account
  • Commision: No Commission
  • Maximum Leverage: 1:888
  • Typical Spread: 0.06
  • Mobile Platform: MT4, MT5
  • Trading Platform: MT4, MT5, WebTrader
  • Spread Type: Variable Spread
  • Minimum Deposit: 50
  • Minimum Trade Size: Standard Ultra: 0.01 Lots - Micro Ultra: 0.1 Lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
XM Zero
  • Commision: $3.5 Per Lot Per 100K USD Traded
  • Maximum Leverage: 1:888
  • Typical Spread: 0-0.1
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: MT4, MT5, WebTrader
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Shares Account
  • Commision: Yes
  • Maximum Leverage: NO Leverage
  • Typical Spread: As per the underlying exchange
  • Mobile Platform: MT4, MT5
  • Trading Platform: MT4, MT5, WebTrader
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000
  • Minimum Trade Size: 1 Lot
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: No
  • Islamic Accounts: Yes
Regulators
Australia - AU ASIC
Cyprus - CY CYSEC
Belize (IFSC)
Dubai (DFSA)
Information:
Company NameXM
Year Funded2009
HeadquartersCyprus, Belize and Australia
Office Locations Cyprus, Belize and Australia
Client Funds Bank(s)Investment Grade Banks
Account CurrencyAUD, CHF, EUR, GBP, JPY, SGD, USD, ZAR, HUF, PLN, RUB
Support Languages Arabic, English, French, German, Indonesian, Greek, Italian, Polish, Portuguese, Russian, Spanish, Vietnamese, Thai, Korean, Hindi and Urdu, Chinese, Czech, Turkish, Ukrainian, Bulgarian, Hungarian, Romanian
Funding MethodsBank Wire, Neteller, Skrill, Credit Card, WebMoney
Financial Instruments Forex, Stock CFDs, Commodities, Oil and Energies, Gold, Shares, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading ✔️
Regulatory deposit insurance
Trailing stops✔️
Bonuses✔️
Interest on margin
Fixed spread
Variable spread✔️
Interactive Brokers
Interactive Brokers Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Futures
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Accepts Japanese Clients
Accepts Canadian Clients
Trading API
Trailing Stops
Interest on Margin
Variable Spread
ECN Account
Allows hedging
Offers STP
ECN or STP Execution
Account Type
Information
IBKR Lite
  • Commision: Free
  • Maximum Leverage: 1:40
  • Typical Spread: 0.1 pips
  • Mobile Platform: IBKR Mobile
  • Trading Platform: Client Portal, Trader Workstation (TWS), IBKR Web Trader
  • Spread Type: Variable Spread
  • Minimum Deposit: 0
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: No
  • Hedging Allowed: Yes
  • Islamic Accounts: No
IBKR PRO
  • Commision: Fixed or Tiered Pricing
  • Maximum Leverage: 1:40
  • Typical Spread: 0.1 pips
  • Mobile Platform: IBKR Mobile
  • Trading Platform: Client Portal, Trader Workstation (TWS).
  • Spread Type: Variable Spread
  • Minimum Deposit: 0
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: No
  • Hedging Allowed: Yes
  • Islamic Accounts: No
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
USA - USAsec
Canada (IIROC)
Singapore - MAS
USA - (FINRA)
Ireland - (CBI)
Austria - (CSSF)
Hungary - (MNB)
India - (BSE)
Japan - (FSA)
Information:
Company NameInteractive Brokers
Year Funded1978
HeadquartersUSA
Office Locations USA, Switzerland, Canada, Hong Kong, UK, Australia, Hungary, Russia, Japan, India, China, Luxembourg, Singapore, Ireland and Estonia.
Client Funds Bank(s)
Account CurrencyAUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD, ZAR, HUF, PLN, RUB, DKK, SEK, NOK, CZK, MXN, ILS
Support Languages English, French, German, Italian, Russian, Spanish, Japanese, Chinese
Funding MethodsBank Wire, BPAY
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Futures, Shares, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts
Accepts Canadian clients ✔️
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin ✔️
Fixed spread
Variable spread✔️
Pepperstone
TradingDominance Score™: 95 / 100
Pepperstone Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Social Trading
Regulatory Deposit Insurance
Islamic Accounts (Swap-free)
Scalping Allowed
Trading API
Trailing Stops
Variable Spread
Allows hedging
Copy Trading
ECN or STP Execution
VPS Trading
Offers MT4
Offers MT5
Account Type
Information
The Edge Standard Account
  • Commision: $0
  • Maximum Leverage: 1:500
  • Typical Spread: 1 Pip
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: Web Trader, MetaTrader 4, Meta Trader 5, cTrader, cAlgo and cMirror
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Edge Razor Account
  • Commision: $3.50 per $100,000 Trading Volume.
  • Maximum Leverage: 1:500
  • Typical Spread: 0.0
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: Web Trader, MetaTrader 4, Meta Trader 5, cTrader, cAlgo and cMirror
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Edge Swap-Free Account
  • Commision: $0
  • Maximum Leverage: 1:500
  • Typical Spread: 1 to 1.2 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: Web Trader, MetaTrader 4, Meta Trader 5, cTrader, cAlgo and cMirror
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01 Lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Edge Active Traders Account
  • Commision: $0
  • Maximum Leverage: 1:500
  • Typical Spread: 0 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: Web Trader, MetaTrader 4, Meta Trader 5, cTrader, cAlgo and cMirror
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
Cyprus - CY CYSEC
Dubai (DFSA)
Bahamas - (SCB)
Germany - (BaFin)
Kenya - (CMA)
Information:
Company NamePepperstone
Year Funded2010
HeadquartersAustralia
Office Locations London, Bangkok, and Dallas
Client Funds Bank(s)
Account CurrencyAUD, CHF, EUR, GBP, JPY, NZD, SGD, USD, HKD
Support Languages Arabic, English, French, Italian, Polish, Chinese
Funding MethodsBank Wire, Neteller, Skrill, PayPal, Credit Card, FasaPay, China Union, Qiwi, Poli, BPay
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Shares, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading ✔️
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin
Fixed spread
Variable spread✔️
IG
TradingDominance Score™: 95 / 100
IG Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Futures
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Islamic Accounts (Swap-free)
Accepts Japanese Clients
Scalping Allowed
Trading API
Trailing Stops
Variable Spread
Allows hedging
ECN or STP Execution
VPS Trading
Offers MT4
Account Type
Information
CFD Trading Account
  • Commision: $0
  • Maximum Leverage: 1:50
  • Typical Spread: 0.8 pips
  • Mobile Platform: IG Trading Platform, MT4 Mobile, IG PWA
  • Trading Platform: IG Trading Platform, MT4, ProRealTime (PRT), L2 Dealer
  • Spread Type: Variable Spread
  • Minimum Deposit: 250
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Professional Account
  • Commision: $0
  • Maximum Leverage: 1:50
  • Typical Spread: 0.8 pips
  • Mobile Platform: IG Trading Platform, MT4 Mobile, IG PWA
  • Trading Platform: IG Trading Platform, MT4, ProRealTime (PRT), L2 Dealer
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
Dubai (DFSA)
USA - (CFTC)
Singapore - MAS
Bahamas - (SCB)
Germany – (BaFin)
Switzerland – (FINMA)
USA – (NFA)
New Zealand – (FMA)
Japan – (FSA)
Information:
Company NameIG
Year Funded1974
HeadquartersUnited Kingdom
Office Locations Denmark, Deutschland, Spain, France, Ireland, Italy, Luxembourg, Nederland, Norge, Österreich, Portugal, Romania, Russia, United Kingdom, United States, Australia, Singapore, South Africa, United Arab Emirates
Client Funds Bank(s)
Account CurrencyAUD, EUR, GBP, SGD, USD, HKD
Support Languages Arabic, English, French, German, Italian, Portuguese, Russian, Korean, Japanese, Chinese, Swedish
Funding MethodsBank Wire, PayPal, Credit Card
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Futures, Shares, Indices, Precious Metals
24 hour support
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin
Fixed spread
Variable spread✔️
Saxo Markets
TradingDominance Score™: 94 / 100
Saxo Markets Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Futures
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Accepts Japanese Clients
Scalping Allowed
Trading API
Trailing Stops
Interest on Margin
Variable Spread
Account Type
Information
Classic
  • Commision: Variable Commission
  • Maximum Leverage: 30:1
  • Typical Spread: 1.1 pips
  • Mobile Platform: Investor App
  • Trading Platform: SaxoTraderGo, SaxoTraderPro
  • Spread Type: Variable Spread
  • Minimum Deposit: 2000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: No
  • Islamic Accounts: No
Platinum
  • Commision: Variable Commission
  • Maximum Leverage: 30:1
  • Typical Spread: 1.0 pips
  • Mobile Platform: Investor App
  • Trading Platform: SaxoTraderGo, SaxoTraderPro
  • Spread Type: Variable Spread
  • Minimum Deposit: 200000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: No
  • Islamic Accounts: No
VIP
  • Commision: No commission
  • Maximum Leverage: 30:1
  • Typical Spread: 0.8 pips
  • Mobile Platform: Investor App
  • Trading Platform: SaxoTraderGo, SaxoTraderPro
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: No
  • Islamic Accounts: No
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
Singapore - MAS
Hong Kong - (SFC)
Information:
Company NameSaxo Markets
Year Funded1992
HeadquartersDenmark
Office Locations UK, Singapore, Denmark, Australia, Hong Kong, China, India, Japan, France, Italy, Czech Republic, Switzerland, Netherland, Dubai
Client Funds Bank(s)N/A
Account CurrencyAUD, EUR, GBP, JPY, USD, PLN, CZK
Support Languages Arabic, English, French, German, Italian, Polish, Portuguese, Russian, Spanish, Korean, Japanese, Chinese, Norwegian, Persian, Dutch, Slovak
Funding MethodsBank Wire, Credit Card, Debit Card, VISA, Master Card, Maestro, Union Pay
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Futures
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin ✔️
Fixed spread
Variable spread✔️
Admiral Markets
Admiral Markets Financial Instruments
Forex
Stock CFDs
Commodities
Oil and Energies
Gold
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Islamic Accounts (Swap-free)
Scalping Allowed
Trading API
Trailing Stops
Variable Spread
Allows hedging
Offers STP
VPS Trading
Offers MT4
Offers MT5
Account Type
Information
Zero
  • Commision: Forex & Metals - from $1.8 to $3.0 per lot, Cash Indices - from $0.05 to $3.0 per 1.0 lots, Energies - $1 per lot
  • Maximum Leverage: Retail Clients: 1:30 - 1:20, Professional Clients: 1:500 - 1:10
  • Typical Spread: 0.0 pips
  • Mobile Platform: MT4 Mobile, Admiral Markets Mobile
  • Trading Platform: MT4, MT5, Web Terminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: No
Trade
  • Commision: Share & ETF CFDs - $0.02 per share, No commission on other Instruments
  • Maximum Leverage: Retail Clients: 1:30 - 1:20, Professional Clients: 1:500 - 1:10
  • Typical Spread: From 0.5 pips
  • Mobile Platform: MT4 Mobile, Admiral Markets Mobile
  • Trading Platform: MT4, MT5, Web Terminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Invest
  • Commision: Share & ETF CFDs - $0.02 per share, No commission on other Instruments
  • Maximum Leverage: None
  • Typical Spread: From 0 pips
  • Mobile Platform: MT4 Mobile, Admiral Markets Mobile
  • Trading Platform: MT4, MT5, Web Terminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 1
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: No
  • Islamic Accounts: No
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
Cyprus - CY CYSEC
Information:
Company NameAdmiral Markets
Year Funded2001
HeadquartersTallin, Estonia
Office Locations UK, Cyprus, Australia
Client Funds Bank(s)Prudential Authority Regulated Banks
Account CurrencyCHF, EUR, GBP, USD, HUF, PLN, RON, CZK, BGN, HRK
Support Languages Arabic, English, French, German, Indonesian, Italian, Polish, Portuguese, Russian, Spanish, Vietnamese, Thai, Korean, Bengali, Chinese, Bulgarian, Croatian, Estonian, Lithuanian, Romanian, Dutch, Latvian, Magyar, Cestina, Slav, Bahasa Indonesia, Hindi, Khmer
Funding MethodsBank Wire, Skrill, Credit Card, Debit Card, Klarna, Visa, Mastercard, SafetyPay, Przelewy, iBank , BankLink, iDEAL
Financial Instruments Forex, Stock CFDs, Commodities, Oil and Energies, Gold, Shares, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses
Interest on margin
Fixed spread
Variable spread✔️
FxPro
TradingDominance Score™: 92 / 100
FxPro Financial Instruments
Forex
Cryptocurrencies
Commodities
Oil and Energies
Gold
Futures
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Islamic Accounts (Swap-free)
Accepts Japanese Clients
Scalping Allowed
Trailing Stops
Fixed Spread
Variable Spread
Allows hedging
VPS Trading
Offers MT4
Offers MT5
Account Type
Information
FxPro MT4
  • Commision: NO
  • Maximum Leverage: (Retail) 1:200, (Professional) 1:500
  • Typical Spread: 1.71
  • Mobile Platform: MT4 Mobile
  • Trading Platform: MT4, WebTrader
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
FxPro MT4 Instant
  • Commision: NO
  • Maximum Leverage: Retail 1:200, Professional 1:500
  • Typical Spread: 1.84
  • Mobile Platform: MT4 Mobile
  • Trading Platform: MT4, WebTrader
  • Spread Type: Fixed, Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
cTrader
  • Commision: $45.00 Per Side Per 1 Million USD Traded
  • Maximum Leverage: Retail 1:200, Professional 1:500
  • Typical Spread: 0.31
  • Mobile Platform: cTrader Mobile
  • Trading Platform: cTrader, WebTrader
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
FxPro Edge MT4
  • Commision: NO
  • Maximum Leverage: Retail 1:200, Professional 1:500
  • Typical Spread: 1.71
  • Mobile Platform: FxPro Mobile App
  • Trading Platform: MT4, FxPro Edge web
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
FxPro MT5
  • Commision: NO
  • Maximum Leverage: Retail 1:200, Professional 1:500
  • Typical Spread: 1.65
  • Mobile Platform: MT5 Mobile
  • Trading Platform: MT5
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: No
  • Islamic Accounts: No
Regulators
United Kingdom - UK FCA
Cyprus - CY CYSEC
South Africa - ZA FSCA
Bahamas - (SCB)
Information:
Company NameFxPro
Year Funded2006
HeadquartersUK, Cyprus & Bahamas.
Office Locations UK, Cyprus & Bahamas.
Client Funds Bank(s)Bank of America, Barclays Bank, Royal Bank of Scotland
Account CurrencyAUD, CHF, EUR, GBP, JPY, USD, ZAR, PLN
Support Languages Arabic, English, French, German, Indonesian, Italian, Malay, Polish, Portuguese, Russian, Spanish, Vietnamese, Thai, Korean, Japanese, Chinese, Czech, Bulgarian, Croatian, Danish, Estonian, Finnish, Hungarian, Lithuanian, Norwegian, Romanian, Swedish
Funding MethodsBank Wire, Neteller, Skrill, PayPal, Credit Card, China Union
Financial Instruments Forex, Cryptocurrencies, Commodities, Oil and Energies, Gold, Futures, Shares, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients ✔️
Non expiring demo
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance
Trailing stops✔️
Bonuses
Interest on margin
Fixed spread✔️
Variable spread✔️
forex.com
TradingDominance Score™: 92 / 100
forex.com Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Regulatory Deposit Insurance
Islamic Accounts (Swap-free)
Accepts Japanese Clients
Accepts Canadian Clients
Scalping Allowed
Trading API
Trailing Stops
Bonuses
Interest on Margin
Fixed Spread
Variable Spread
Allows hedging
Offers STP
ECN or STP Execution
VPS Trading
Offers MT4
Offers MT5
Account Type
Information
Standard account
  • Commision: $0
  • Maximum Leverage: 1:50
  • Typical Spread: 0.2 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile, Forex.com Mobile
  • Trading Platform: MT4, MT5, Forex.com Web Trading
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Commission account
  • Commision: $5 per 100,000 on forex trades
  • Maximum Leverage: 1:50
  • Typical Spread: 0.2 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile, Forex.com Mobile
  • Trading Platform: MT4, MT5, Forex.com Web Trading
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
STP Pro Account
  • Commision: $5 per 100,000 on forex trades
  • Maximum Leverage: 1:50
  • Typical Spread: 0.2 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile, Forex.com Mobile
  • Trading Platform: MT4, MT5, Forex.com Web Trading
  • Spread Type: Variable Spread
  • Minimum Deposit: 10000
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
Australia - AU ASIC
United Kingdom - UK FCA
USA - (CFTC)
Canada (IIROC)
USA - (NFA)
Cayman Islands - (CIMA)
Information:
Company Nameforex.com
Year Funded2001
HeadquartersThe United States of America
Office Locations London, United Kingdom
Client Funds Bank(s)
Account CurrencyAUD, CHF, EUR, GBP, JPY, USD
Support Languages English, Japanese, Chinese
Funding MethodsBank Wire, PayPal, Credit Card
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Shares, Indices, Precious Metals
24 hour support
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients ✔️
Accepts Japanese Clients ✔️
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance ✔️
Trailing stops✔️
Bonuses✔️
Interest on margin ✔️
Fixed spread✔️
Variable spread✔️
BDSwiss
TradingDominance Score™: 92 / 100
BDSwiss Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Islamic Accounts (Swap-free)
Accepts Canadian Clients
Scalping Allowed
Trading API
Trailing Stops
Variable Spread
ECN Account
Allows hedging
Offers STP
ECN or STP Execution
Offers MT4
Offers MT5
Account Type
Information
Classic
  • Commision: $0 on FX Pairs, $2 on indices, 0.15% on shares
  • Maximum Leverage: 500:1
  • Typical Spread: 1.5
  • Mobile Platform: MT4 Mobile, MT5 Mobile, BDSwiss Mobile
  • Trading Platform: MT4, MT5, Web Terminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 100
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
VIP
  • Commision: $0 on FX Pairs, $0 on indices, 0.15% on shares
  • Maximum Leverage: 500:1
  • Typical Spread: 1.1
  • Mobile Platform: MT4 Mobile, MT5 Mobile, BDSwiss Mobile
  • Trading Platform: MT4, MT5, Web Terminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 3000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Raw
  • Commision: $5 on FX Pairs, $2 on indices, 0.15% on shares
  • Maximum Leverage: 500:1
  • Typical Spread: 0.3
  • Mobile Platform: MT4 Mobile, MT5 Mobile, BDSwiss Mobile
  • Trading Platform: MT4, MT5, Web Terminal
  • Spread Type: Variable Spread
  • Minimum Deposit: 5000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
InvestPLUS
  • Commision: 0.1% per unit
  • Maximum Leverage: 5:1
  • Typical Spread: N/A
  • Mobile Platform: MT4 Mobile, MT5 Mobile, BDSwiss Mobile
  • Trading Platform: MT4, MT5, WebTerminal
  • Spread Type: N/A
  • Minimum Deposit: 5000
  • Minimum Trade Size: 0.01
  • Trailing Stops: Yes
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
Cyprus - CY CYSEC
The Seychelles FSA
Financial Services Commission (FSC) - Mauritius
National Futures Association (NFA) - United States
Federal Financial Supervisory Authority (BaFin) - Germany
Information:
Company NameBDSwiss
Year Funded2012
HeadquartersLimassol, Cyprus
Office Locations Mauritius, Cyprus, Germany, Berlin
Client Funds Bank(s)-
Account CurrencyCHF, EUR, GBP, USD, PLN, DKK, SEK, NOK, MXN, ARS, BRL, CLP, COP, PAB, SOL, UYU
Support Languages English, French, German, Greek, Italian, Malay, Polish, Portuguese, Russian, Spanish, Vietnamese, Thai, Korean, Hindi and Urdu, Chinese, Czech, Turkish, Danish, Norwegian, Romanian, Filipino
Funding MethodsBank Wire, Neteller, Skrill, PayPal, Credit Card, DotPay, GlobePay, Visa, Mastercard, Giropay, Sofort, eps, iDEAl, Maestero
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Shares, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients ✔️
Accepts Japanese Clients
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading
Regulatory deposit insurance
Trailing stops✔️
Bonuses✔️
Interest on margin
Fixed spread
Variable spread✔️
ICMarkets
TradingDominance Score™: 90 / 100
ICMarkets Financial Instruments
Forex
Cryptocurrencies
Stock CFDs
Commodities
Oil and Energies
Gold
Futures
Shares
Indices
Precious Metals
Other Features
Negative Balance Protection
Social Trading
Islamic Accounts (Swap-free)
Scalping Allowed
Trading API
Variable Spread
Allows hedging
Offers STP
Copy Trading
ECN or STP Execution
VPS Trading
Offers MT4
Offers MT5
Account Type
Information
cTrader Account
  • Commision: $3 per lot.
  • Maximum Leverage: 1:500
  • Typical Spread: 0.0 pips
  • Mobile Platform: cTrader
  • Trading Platform: cTrader
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: No
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Raw Spread Account
  • Commision: $3.5 per lot.
  • Maximum Leverage: 1:500
  • Typical Spread: 0.0 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: MT4, MT5
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: No
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Standard Account
  • Commision: $0
  • Maximum Leverage: 1:500
  • Typical Spread: 1.0 pips
  • Mobile Platform: MT4 Mobile, MT5 Mobile
  • Trading Platform: MT4, MT5
  • Spread Type: Variable Spread
  • Minimum Deposit: 200
  • Minimum Trade Size: 0.01 lots
  • Trailing Stops: No
  • Scalping Allowed: Yes
  • Hedging Allowed: Yes
  • Islamic Accounts: Yes
Regulators
Australia - AU ASIC
Cyprus - CY CYSEC
The Seychelles FSA
Information:
Company NameICMarkets
Year Funded2007
HeadquartersAustralia
Office Locations Australia, Cyprus, Seychelles.
Client Funds Bank(s)
Account CurrencyAUD, CAD, EUR, GBP, JPY, NZD, SGD, USD, CHG, KHD
Support Languages Arabic, English, French, German, Indonesian, Italian, Malay, Portuguese, Russian, Spanish, Vietnamese, Korean, Chinese, Czech, Croatian
Funding MethodsBank Wire, Neteller, Skrill, Bitcoin, PayPal, Credit Card, FasaPay, China Union, POLI, BPay, RapidPay, Vietnamese Internet Banking, Thai Internet Banking
Financial Instruments Forex, Cryptocurrencies, Stock CFDs, Commodities, Oil and Energies, Gold, Futures, Shares, Indices, Precious Metals
24 hour support✔️
Segregated Accounts ✔️
Islamic Accounts✔️
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo✔️
Cent accounts
Negative balance protection ✔️
Social trading ✔️
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread✔️

What are the best forex brokers in Australia?

In the process of finding the best forex broker in Australia, we’ve prioritized the brokers who are authorized by the Australian Securities and Investments Commission (ASIC) and commits the best trading service for the AU residents. Here is our list of top forex brokers in Australia:

Introduction

Generally, forex brokers offer attractive features like low spreads, welcome bonuses, variety in trading accounts, and platforms for engaging potential clients. The level of trading advantages you get from the broker vastly depends on the country you’re residing in. The people living in an economically developed country are likely to enjoy greater features and support from the brokers.

If you’re currently residing in Australia and looking for a forex broker that suits you best, first, you need to assess the trading conditions in the country. The key facts you can focus on are the forex trading regulations, growth of the financial industry, and investment conditions in Australia.

Forex Trading in Australia

Forex trading is gaining more and more popularity among the global traders and there is no exception in Australia. Currently, forex currencies rank as the top trading assets among Australian residents. The trading diversity and a wide range of tradable assets are the main reason behind the increasing acceptance of forex trading in the country.

According to our research, wide access to financial products, availability of educational materials, profitability, global trading communities, and the latest trading technologies are the main reasons behind the popularity of forex trading in Australia.

How we chose the best forex broker in Australia

Here is the list of factors we take into account in choosing the best forex broker in Australia:

  • Reputation – Head office locations, date of establishment, and years of experience in providing online trading service.
  • Regulation – Must be authorized by a renowned financial regulatory body like ASIC and FCA.
  • Deposit and withdrawal methods – Duration of the transaction process, payment methods, and fees.
  • The accessibility of trading assets – We prefer access to a large number of forex trading assets like major, minor, and exotic currency pairs.
  • Trading platforms – The trading platform has to be user-friendly and should include features like high-speed execution and chart analysis tools.
  • Trading commissions and fees – Lower trading commissions and transactions fees are our top priority. Also, we focused on the brokers who offer competitive market spreads.
  • Customer support – 24/5 multilingual customer support with several contact options.

How to choose to start trading with the best broker

We recommend you consider the following facts before deciding to start trading with a forex broker.

Choose a broker that has been established for at least 3 years

This is an easy trick to recognize a reputable broker. A broker with weak infrastructure doesn’t last long in competitive markets.

Generally, the companies serving as financial brokers for a long time receive numerous reviews from their clients. These reviews help you to understand the user experience of the broker without being its client. For this reason, we recommend you choose a broker who has been established at least for 3 years in the financial markets.

Check out the broker regulations

Regulation plays an important role in ensuring the legitimacy of the broker. Top financial regulators and governing bodies set strict rules and standard procedures for the broker s to follow. They ensure the broker takes enough safety measures for protecting the investments and privacy of the client. Generally, legitimate brokers are authorized by several financial regulators.

List of reputable Forex regulations

  • ASIC – Australian Securities and Investment Commission
  • FCA – Financial Conduct Authority
  • CySEC – Cyprus Securities and Exchange Commission
  • FSA – Financial Service Agency
  • FSC – Financial Service Commission
  • FFMS – Federal Financial Markets Service
  • CFTC – Commodities and Futures Trading Commission
  • IFSC – International Financial Services Commission
  • FSB – Financial Services Board
  • MFSA – Malta Financial Services Authority

Deposit and withdrawal execution time

The duration of the deposit and withdrawal process varies depending on the broker’s transaction policies and payment methods. Most traders prefer the brokers who offer a fast transaction process that help them to avoid delays and confusion over the transactions.

Ideal brokers process transactions made through electronic payment methods are processed instantly. For bank wire transfers, it should take 1-3 business days to process the payment. Also, for credit card payments like VISA and Mastercards, the transactions are processed within 3-5 business days.

International presence

It is wise to choose a broker who offers its service in multi-nations. Top brokers usually don’t limit their service within the boundary of a single country. Instead, they intend to explore and establish their business in multiple countries to ensure an international presence as a competitive broker.

Support in local language

It is important to make sure the broker offers support in your local language if you’re not comfortable communicating in English. Nowadays, many brokers offer multilingual customer support that enables investors to communicate with their brokers in their native language. Generally, the brokers list the languages they support on the “contact” page of their official sites.

How we analyzed and chose the best forex brokers in Australia

We’ve taken the following features into account for choosing the best forex broker in Australia:

Analyzed Brokers Reputation

We’ve checked numerous user experiences of the broker for finding any disputes. Besides, we’ve checked if the broker is well experienced in providing online trading services. Its international presence also played a key role in concluding it as a well-reputed broker.

Regulation

Since we’re looking for the best forex broker in Australia, we make sure the broker is authorized by the Australian Securities and Investment Commission (ASIC).

Tested Deposit and Withdrawal Experience

We’ve checked the deposit and withdrawal process of the broker with a client account and didn’t find any issue with it. Also, the transactions were processed within the expected time.

Offering Demo Accounts

The demo account offers a great advantage for beginners who wish to experience live trading without risking anything. Besides, you can easily switch to a real live account whenever you feel confident enough with your demo results.

Both beginners and experienced traders may use demo accounts for testing and implementing their trading strategies.

Features

While analyzing the broker’s service, we’ve prioritized the bonus offers, low spreads, competitive fees as the most useful features for trading individuals.

Trading Platforms

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the best trading platforms for forex traders. The platforms offer first execution, a user-friendly interface, analytical tools, and news terminals as well. We prefer brokers who offer MT4 or MT5 platforms.

Mobile Trading Platforms

The mobile trading platform allows you to access the market from any place you wish. This platform also offers chart analysis tools and enables you to execute orders like its portable versions. Also, it supports both Android and iOS devices.

Effective Customer Support

Effective and efficient customer support is always our top priority. Ideal brokers offer multilingual customer support through multiple contact options like phone calls, e-mail, live chats, and social media.

Forex Brokers in Australia FAQ’s

Is Forex trading legal in Australia?

Yes, forex trading is completely legal in Australia. Currently, a large number of prominent brokers offer forex trading services for the residents of the country. Besides, forex trading in Australia is safe and easy

Do forex traders pay TAX in Australia?

The TAX applies only If you’re a non-resident of the country and have an income source in Australia.

Who regulates forex trading in Australia?

Australian Securities and Investments Commission (ASIC) regulates forex trading exchanges in Australia.

What time does Forex Market open in Australia?

8 AM, Monday morning (according to the local time in Sydney).

Can Australians sign up with a forex broker from abroad?

Since forex trading is completely legal in Australia, the citizens of the country can always sign up with a forex broker from abroad.

Conclusion

Before picking a broker, first, you need to assess your basic needs as a trader. The patterns of the trading requirements directly depend on the nature of the trader.

As a beginner, you might look for educational materials, minimum deposit options, and a user-friendly trading platform. On the other hand, expert professionals look for tight spreads, high leverage, and high-speed order execution facilities for maximizing their trading benefits.

Besides, the reputation of the company as a financial broker is also important. An ideal forex broker builds its reputation with its legitimacy, regulations, and authenticity in financial transactions.