Best Australian Forex Broker 2020

Top 8 Australia Forex Brokers

The best ASIC regulated Australian forex brokers are based across eight key categories.

  • Pepperstone – Overall Best Forex Broker In Australia
  • IC Markets – Lowest ECN Broker Spreads On EUR/USD
  • Plus500 – Best Beginner Forex Trading Platform
  • AxiTrader – Lowest Minimum Deposit
  • eToro – Best Social Trading Australia Platform
  • CMC Markets – Best CFD Broker And Stockbroker
  • IG Group – Most popular foreign exchange broker
  • City Index – Lowest cryptocurrency trading costs

Broker Reviewed

Pepperstone
IC Markets
FP Markets
CMC Markets
IG
Our Rating
9.17
8.17
8
7.17
6.67
Most Awarded Broker
Best Spread Broker
Trade with CFDs and on Stock Market
Useful risk management features

Regulations and Licenses

Feature
Pepperstone
IC Markets
FP Markets
CMC Markets
IG
ASIC (Australia)

Brokerage

Feature
Pepperstone
IC Markets
FP Markets
CMC Markets
IG
No Commission Account Spreads From (EUR/USD):
1.0
1.0
1.1
0.7
0.6
Commission Account Spreads From (EUR/USD):
0.0
0.0
0.0
Commission (per 100k traded side trip)
AUD $3.50
USD $3.50
USD $3.00
Minimum Deposit
$200
USD $200
$100
$0
Volume Commission Rebates
Has Islamic Account
No Inactivity Fees
Funding Methods
16
15
8
6
4
No Deposit/Withdrawal Fees

Markets and Instruments

Feature
Pepperstone
IC Markets
FP Markets
CMC Markets
IG
Forex Currency Pairs CFDs
66+
65+
45
339+
80+
Cryptocurrency CFDs
4+
10+
5
12+
5+
Index CFDs
2+
16+
10
46+
34+
Share CFDs
5+
100+
12,986
9000+
12000+
Commodities CFD
4+
19+
3
111+
38+
Stockbroking
9000+
Retail Maximum Leverage
500:1
500:1
500:1
30:1 (Europe) / 20:1 (SG) / 500:1 (intl)
200:1
Professional Maximum Leverage
500:1
500:1
500:1
500:1
200:1

Trading Platforms + Tools

Feature
Pepperstone
IC Markets
FP Markets
CMC Markets
IG
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automatic / Robot Trading
MetaTrader 4 only
Social + Copy Trading
MetaTrader 4 onliy
Standard Stop Loss
Guaranteed Stop Loss Order
Guaranteed Negative Balance Protection
ESMA regulated territories only
ESMA regulated territories only
Only in ESMA regulated territories
ESMA regulated territories only
Demo Account
Unique Feature 1
Smart Trader Tools
ECN pricing
Fastest Limit Order Execution Speed
Offers both CFD and Stock trading
Guaranteed stop loss orders
Unique Feature 2
Fast Execution Speed
Range of fee free funding options
No Dealing Desk Execution
Trade Treasury notes
Choice of Platforms

Overall