Best Forex Brokers In Australia
To help choose an Australian forex broker we compared the best 39 ASIC regulated forex brokers in Australia. Brokers were compared based on August 2022 spreads, trading platform features and the overall trading experience.

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Ask an Expert
Is forex legal in Australia?
Hi Josh.
Forex trading is very legal in Australia. The most important thing is to choose a broker that i regulated by the Australia Securities and Investment Commission, also known as ASIC.
Using an ASIC regulated broker means the broker complies with the requirements of companies in Australia that manage financial services.
Good brokers ASIC regulated brokers include Pepperstone, IC Markets, FP Markets, Markets.com, IG Markets, Eightcap, BlueBerry Markets,
Should I choose MetaTrader 4 or MetaTrader 5 when opening a demo account?
It is best to demo the platform you plan to use when trading. There are and cons of both trading platforms but generally, MetaTrader 5 has all the features MT4 has and more.
The main reason to choose MT4 is if you have a low powered computer since MT5 uses higher processing power, you want access to the largest possible range of expert advisors since MT4 has a larger marketplace, a larger trading community since more people use MT4 and if you plan to use Myfxbook or Duplitrade which integrates with MT4 but not MT5. If you plan to trade stocks then you must use MT5 since MT4 is not built for this.
I’m looking for a high margin Australian broker but they all seem to have the same leverage. Why is this and how do I get more?
Brokers in Australia must be licenced and regulated by the Australia Securities Investment Commission (ASIC), as a condition of their licence they cannot offer leverage higher than 30:1 for major forex pairs and 20:1 for minor forex pairs. If you want higher leverage, some brokers do offer up 500:1 provided you meet the qualification criteria as a professional trader. To do this you must pass the brokers Sophisticated Investor Test or Wealth test.
I would like to know about decfx, I know they are an Australian broker but I want to know how good they are
DECFX is an offshore broker, we only review brokers that use tier 1 regulators such as ASIC, FCA, CySEC…Unfortunately i can’t say we know much about DECFX
Can an Australian broker with Asic license expand their business reach
Yes as long as you abide by ASIC regulatory conditions
What happens with my money sitting in brokers account? Do I get interest?
Your broker will arrange for your funds to be kept in a segregated bank account. This allows you to access the funds for trading quickly and easily without the broker ever being able to access these funds. Since the funds are kept in a bank account, your funds will earn your interest how much this is will depend on the type of account and interest the bank is offering.
When trading you can also earn interests through swaps or overnight fees. If you have an open position and hold this over closing hours (new york time in the case of forex) then you will either pay or earn swaps fees. You can also earn through commissions if you are trading shares.
If I am based in new zealand, can I use an australian broker to trade with?
This will depend on the broker, some brokers may accept an ASIC regulated broker but our recommendation is to choose an FMA regulated broker. This ensures the broker complies the financial requirements of the FMA, is legally able to operate trading services to New Zeland traders and you have an avenue to resolve any disputes or grievances should they occur.
What is the best trading platform to use in Australia?
The best trading platform depends on your needs and you can view the best forex trading platform page or for more niche trading we created a 2022 best automated trading platform australia list.