Top Forex Brokers in Australia

Best Australian brokers
Forex Brokers Australia

Australia is one of the hottest jurisdictions for forex traders. ASIC (Australian Securities and Investments Commission) is one of the regulators with the highest rating and the traders and investors still could benefit from the higher leverage in Australia compare with the other leading jurisdictions.

 The traders could choose between brokers with the main headquarter in Australia (like Pepperstone) and world forex brands with subsidiaries regulated by ASIC (Plus500 for example).

Best Forex Brokers in Australia

Broker Description Pros Cons Rating Go
IC Markets IC Markets is a Forex and CFD broker established at 2007. The company provides competitive spreads and fast execution. IC Markets offers three platforms – Meta Trader 4, Meta Trader 5 and C Trader. IC Markets is regulated by the Australian Securities and Investment Commission (ASIC) and by the Seychelles Financial Services Authority (FSA).
  • Low ECN spreads
  • Good platforms for automated trading
  • ASIC and FSA regulated
  • 1:500 leverage available
  • Wide range of payment methods
  • Micro lots
  • PAMM
  • No rebates
9.3
Full Review
Pepperstone Pepperstone is one of the largest forex brokers and it was founded in 2010. The main advantages of the broker are low spreads, fast execution, and high-level support. Pepperstone offers three platforms – Meta Trader 4, Meta Trader 5 and C Trader. The company is regulated by Financial Conduct Authority (FCA) in the United Kingdom.
  • Low spreads
  • Good platforms for trading
  • FCA regulated
    8.9
    Full Review
    Plus500 Plus500 was founded in 2008 in Israel. The company offers various CFDs based on Forex, Indices, Commodities, Shares, and ETFs. Plus500UK Ltd is authorized & regulated by the FCA (#509909), Plus500CY Ltd is authorized & regulated by CySEC (#250/14), Plus500SG Pte Ltd is licensed by the MAS (#CMS100648-1) and IE Singapore (#PLUS/CBL/2018). The company attracts clients with the proprietary developed platform.
    • Low spread
    • User friendly platform
    • Limited research tools   
    8.4
    Full Review

    How to Choose Best Australian Forex and CFD broker

    One of the most important parts is the regulation of the Forex broker. Because even а forex broker offers the tightest spreads and the fastest execution, if the jurisdiction of regulation is not one of the strongest, it is possible to be hard to get your profits and the deposited capital back. As the brokers below are regulated from ASIC, the traders receive one of the highest possible protections pf their money.

    Choosing between the best Forex brokers sometimes may depend on your trading strategy or style. For example, a broker can offer lower spreads to all symbols except the one you are trading. So the lower average spread doesn't mean better trading conditions for you. One broker can be the best for you, but the worst for someone else. If you trade overnight and hold positions for a long time, the swap is much more important than the spread. And again it is much more important the swap for the instruments you trade, than the average swaps. If you deposit and withdraw a lot, then you are going to look for an Australian broker that offers the lowest deposit/withdrawal fees. So the best Australian broker is the one who suits your trading the most and you must take into considerations all the things that are important for your trading strategies.

    Forex Broker Min deposit Leverage Deposit method Platforms Spread Swaps Support
    Pepperstone

    Visit

    200 AUD  1:30
    • Visa
    • Mastercard
    • POLi
    • Bank transfer
    • BPay
    • PayPal
    • Neteller
    • Skrill
    • Union Pay
    • MT4
    • MT5
    • cTrader
    Plus500

    Visit
    100 USD  1:30
    • Visa
    • Mastercard
    • Bank transfer
    • PayPal
    • Skrill
    • Plus500
    IC Markets

    Visit
    200 USD  1:30
    • Visa
    • Mastercard
    • Bank transfer
    • PayPal
    • Skrill
    • Neteller
    • UnionPay
    • Bpay
    • FasaPay
    • Broker to Broker
    • POLI
    • Thai Internet Banking
    • Rapidpay
    • Klarna
    • Bitcoin Wallet
    • Vietnamese Internet Banking
    • MT4
    • MT5
    • cTrader

    Trading platforms

    There is a big variety of trading platforms among the Australian forex brokers. If the trader is a fan of Meta Trader, he could choose between MetaTrader 4 and MetaTrader 5. Also, there are brokers with proprietary trading platforms with a big number of features.

    One of the first things to consider is what is the device that you are going to use for your trading. If you use your phone or tablet, you need to check is the platform that is offered by the broker good for your device. They always support most of the devices, but sometimes the solutions are not very good. The good thing is that you can create a demo account first and after you are ok with the applications you can step to make a real account.

    If you plan to use automated trading then you don't have a big choice - your broker must support MetaTrader or cTrader. Usually, the traders prefer MetaTrader for automated trading. If you plan to use social trading you are even more limited for the platform choosing. Another important for automated trading is the VPS. MetaTrader offers cheap and reliable VPS solutions.

    Leverage

    The leverage is one of the biggest advantages of Australian Forex brokers. As European brokers are limited to 33:1, US brokers to 50:1 and Japanese brokers to 25:1, the Australian ones could offer leverages to 400:1 or even 500:1.

    List of trading instruments

    This is an important part when you choose a forex broker. If you want to trade Indices CFDs, a broker that offers only Forex will not be suitable for you. The variety of instruments also includes metals, cryptocurrencies, shares CFD, oil, different types of commodities, and others. If a certain instrument of type of instruments is important for you (for example Australian stock indices), it is good to check it before opening an account with a chosen broker.

    Conclusion

    Australia has some of the best regulations for Forex brokers. If you choose from the licensed brokers you can be sure that your money is safe and you are getting a competitive trading environment. Sometimes unregulated brokers can offer better spreads swaps etc, but they are just from marketing. In reality, these things are not as described. In the regulated brokers the conditions are as advertised.

    Our advice is to search not for the best broker in people's reviews but to search for brokers that suit your personal trading style, strategy instruments, and so on.

    Forex Brokers Ranking

    Looking for an independent and professional Forex brokers review? Our researches will help you find a broker supporting all financial instruments you may need. It will also help you choose the best trading platform for your manual or automated trading.

    Disclaimer: Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. Please note that FxBrokersRanking.com do not provide any kind of financial advices or recommendations.

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