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The top Australian forex brokers are ASIC regulated offering forex trading platforms from MetaTrader 4 to cTrader and ECN broker spreads from 0.0 pips. Australian forex traders should ensure their financial service needs are matched by the best forex broker CFDs offering from Bitcoin to currency pairs.
View the leading fx brokers in Australia below.
By Justin Grossbard / Updated: Saturday, January 18th, 2020
The best Australian forex broker regulated by ASIC across each forex trading category are:
| Feature | Pepperstone | IC Markets | EasyMarkets | AxiTrader | IG |
|---|---|---|---|---|---|
| ASIC (Australia) |  | | | | |
| Feature | Pepperstone | IC Markets | EasyMarkets | AxiTrader | IG |
|---|---|---|---|---|---|
| No Commission Account Spreads From (EUR/USD): | 1.0 | 1.0 | 1.2 (VIP) | 0.0 | 0.6 |
| Commission Account Spreads From (EUR/USD): | 0.0 | 0.0 |  | 1.0 | |
| Commission (per 100k traded side trip) | AUD $3.50 | USD $3.50 | | USD | |
| Minimum Deposit | $200 | USD $200 | AUD $200 (Standard) | $0 | $0 |
| Volume Commission Rebates | | | | | |
| Has Islamic Account | | | | | |
| No Inactivity Fees | | | | | |
| Funding Methods | 16 | 15 | 16 | 12 | 4 |
| No Deposit/Withdrawal Fees | | | | | |
| Feature | Pepperstone | IC Markets | EasyMarkets | AxiTrader | IG |
|---|---|---|---|---|---|
| Forex Currency Pairs CFDs | 66+ | 65+ | 70+ | 80+ | 80+ |
| Cryptocurrency CFDs | 4+ | 10+ | 3+ | 6+ | 5+ |
| Index CFDs | 2+ | 16+ | 14+ | 31+ | 34+ |
| Share CFDs | 5+ | 100+ | 26+ | | 12000+ |
| Commodities CFD | 4+ | 19+ | 12+ | 28+ | 38+ |
| Stockbroking | | | | | |
| Retail Maximum Leverage | 500:1 | 500:1 | 400:1 | 400:1 | 200:1 |
| Professional Maximum Leverage | 500:1 | 500:1 | 400:1 | 400:1 | 200:1 |
| Feature | Pepperstone | IC Markets | EasyMarkets | AxiTrader | 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 | | ESMA regulated territories only | ESMA regulated territories only |
| Demo Account | | | | | |
| Unique Feature 1 | Smart Trader Tools | ECN pricing | DealCancellation / Freeze Rate | MetaTrader 4 specialist | Guaranteed stop loss orders |
| Unique Feature 2 | Fast Execution Speed | Range of fee free funding options | Guaranteed Negative Balance Protection / Fixed Spreads | Award winning customer service | Choice of Platforms |
A January 2020 comparison found that the Pepperstone Razor Trading Account offered the best value with the:
Pepperstone offers Australians the choice of the two most popular fx trading platforms globally.
The MetaTrader 4 (MT4) forex trading platform is the most popular worldwide due to its ease of use, charting and the ability to execute trades easily. The tool speciality is currency trading either manually, with automation or copy trading facilities. MT4 features include:
2) MetaTrader 5The MetaTrader 5 (MT5) platform is similar to MT4 but focuses more on CFD trading. For example, Pepperstone clients can trade Share CFDs with MT5 but not with MT4. It was built off MQL5 language with the main MT5 features including:
3) cTrader
Primarily used by expert Australian forex traders, this fx trading platform is commonly used by day-traders. Expert strategies that utilise automation are executed for financial services with other features:
The forex platform comparison table below shows the functionality of these two platforms.
| Platform | Accessibility | Adjustable Session Times | Depth Of Market Functionality | Historical Data Access | Algorithmic Trading | Detachable Charts |
|---|---|---|---|---|---|---|
| MetaTrader 4 | Windows MAC Linux | No | No | Yes | Yes | Yes |
| MetaTrader 5 | Windows MAC Linux | No | Yes | Yes | Yes | Yes |
| Advanced Trader | Windows MAC Linux | Yes | Yes | Yes | Yes | Yes |
All forex platforms offered by Pepperstone have a demo account. Each demo account is loaded with $50,000 of virtual funds to simulate forex markets. This demo account can be transitioned to a live account at any time. To learn more about these accounts view our demo page.
What makes Pepperstone exceed other Australian forex brokers is their smart trader tools. This is available to all traders who choose MetaTrader 4 as their forex trading platform and have a deposit of at least AUD 500.
The 10 smart trading applications shown below give Pepperstone MT4 trader the edge, helping trade smarter with detailed insights into currency and CFD markets. These tools assist forex trading with expert trade execution and management, advanced alarms, decision assistance as well as broadcast features providing market information to traders. These tools are designed for both those new to trading and the most experienced traders.
The ‘top 10’ Pepperstone smart trading tools designed for currency trading are:
MT4 Alarm Manager
MT4 Connect
MT4 Correlation Trader
MT4 Market Manager
MT4 Excel Real-Time Data (RTD)
MT4 Trade Terminal
MT4 Sentiment Trading
MT4 Session Map
MT4 Stealth Orders
MT4 Trade SimulatorThe combination of offering the two most popular forex trading platforms combined with the enhanced functionality of “smart trading tools” led to Pepperstone winning the category.
Pepperstone achieves up to 10x latency reduction and 12x improvements in Australia execution speeds when trading forex and CFD online due to:
One of the key issues for Australian traders is the distance between the country and the trading hubs either in New York or London. Slow internet connections between continents mean that latency can be experienced when fx trading leading to ‘slippage’ which is the difference between the order made and the actual order received.
Pepperstone has overcome this issue by adopting infrastructure that offers a direct fibre optic cable from their Sydney data-centre to New York.
This has minimised the latency for Australian forex traders which is why advanced traders who make split-second decisions choose their ECN platform. This makes the platform perfect for traders that adopt both technical and fundamental analysis.
Optic fibre isn’t enough to ensure the fastest trades for an Australian forex trader as the server it connects to is just as important. To maximise server speeds Pepperstone partnered with Equinix which not only has one of the world’s best high-performance data-centre but is also less than 18 kilometres from Wall Street.
Edge technology also has created new tools for existing platforms such as MetaTrader such as ‘one-click-trading’ which ensures that as soon as a trade is made it goes straight to the market with no dealer or other external interference which may delay the trade.
Using MT4 or cTrader with the fastest infrastructure available for either platform and features to speed up trades led them to receive the maximum execution speed score of the forex brokers
Pepperstone’s popularity is not solely due to their technology but their ECN currency trading environment. This is matched by IC Markets which also offer RAW ECN spread across their currency trading environments. The results are razor trading account spreads are one of the lowest.
It should be noted there are two accounts. The standard account has a larger spread determined by the forex broker and the market and is normally selected by beginner forex traders. The Razor is a market maker account with market-level spreads and a flat commission of $3.50. This Pepperstone review focused on this Razor ECN forex broker account. View our spreads page to learn more about spreads.
It’s important to understand that Razor is a true ECN forex trading account. This is because Pepperstone allows traders to directly trade with liquidity pools making it a market maker with prices set by the market. The deep liquidity pools the account has access to are in New York for MetaTrader or London for cTrader. Overall, quotes come from up to 22 major banks and ECNs which allow during liquid periods spreads to be as low as 0.1 pips for AUD USD.
PPI technology intelligently routes currency trading orders to detect liquidity hot-spots to ensure optimal pricing for Australian traders. In simple terms, when you place a trade and the market moves in your favour (between placing the trade and it’s execution) the PPI technology detects the movement and when possible, fills the order at the improved level. This does not involve re-quoting but rather the traders just receives the improved price.
You can learn more about these accounts on the Pepperstone choosing account page There is also the option for CFD trading across 13 stock indices. There are no commissions on CFD trading and no dealing desk.
The Razor market maker account (ECN forex broker account) is recommended due market-based spreads and low commissions leading to lower brokerage costs. This account also provides the fastest execution speeds offered by the FX broker
Pepperstone is a relatively new Australian forex broker compared to some global players but in Australia has quickly gained a dominant market share. They have a strong customer service team in Australia of individuals who actually trade themselves making them an excellent choice of intermediate to expert traders.
This was acknowledged in when Investment trends survey of 15,000 Australian forex traders ranked Pepperstone number 1 in:
Pepperstone’s Australia customer support team is based out of Melbourne. There can be the possibility of talking to an overseas customer support team during off-peak periods such as Friday night.
The main forms of customer support including:
Pepperstone uses the Zendesk live chat interface to communicate with customers. This is available during the same hours as the call centre team. Our team used Pepperstone’s live chat several times and found that we could engage with an agent within 5 minutes and the operator was helpful with in-depth knowledge. Overall, live chat was the fastest was to get the answer and assistance we needed when making this forex broker review.
There is 24-hour support via a 1300 number (or an international number for traders outside of Australia). This is available from Monday through to Friday. There is also a telephone number for their Shanghai and Dallas office.
Each Pepperstone call-centre location also has an e-mail contact. This is the slowest way to send enquiries and get a response but it’s useful for long enquiries that require attachments.
The award-winning customer service offered by Pepperstone is ideally suited for intermediate or advanced Australian forex traders. Those new to forex, on the other hand, may want to consider Plus500.
Pepperstone’s forex platform allows CFD cryptocurrency trading with up to 5:1 leverage, fast execution speeds, no commissions and low spreads including the following:
BitcoinThe most popular cryptocurrency in 2020, this blockchain technology allows diversification from traditional financial markets. The market capitalisation in 2020 is over $65 billion USD and has become one of the most traded elements on the markets.
Learn more on this Bitcoin website.
EthereumNow the third most valuable cryptocurrency (Ripple is 2nd at the start of 2020), this serves more industries and purposes giving it a competitive edge. Key uses of Ethereum include blockchain application platforms through to smart contracts.
Learn more on this Ethereum Project website.
Dash“Digital Cash” (shortened to Dash) focuses on enhancing anonymity and processing speeds of cryptocurrency. Dash is used worldwide as an efficient payment system. This popular use has led to increased liquidity and volatility within the asset class.
Discover more on the official Dash website.
This was launched after Bitcoin in 2011. The aim was to speed up transactions with the use of a simpler algorithm. The result has led to its increase in popularity and market capitalisation. This has made it a great alternative to Bitcoin to trade. More can be found on their P2P site.
By offering 5:1 leverage on mainstream cryptocurrencies, Pepperstone enhances the potential profits or losses of this volatile sector.
Pepperstone Group Limited is regulated by the Australian Securities and Investment Commission with the AFSL number 414530 while in the UK they trade as Pepperstone Limited with FCA 684312. Pepperstone also offers the maximum Australian forex broker leverage of 500:1. The high risk this leverage level is not suitable to all traders and losses can exceed deposits made. It’s best to understand the risks associated with high leverage before trading forex.
Pepperstone won most of the categories that benchmark brokers from customer service, forex platforms, execution speeds to high leverage.
EUR/USD Lowest Spreads = IC MarketsCFD Brokers have three main trading costs:
The benchmark spread rate is the Euro / US Dollar (EUR/USD) currency pair. The top forex brokers publish their average spread rate for EUR/USD and IC Markets has the lowest rate of any Australian forex broker.
The spreads above are applicable for the most popular Raw Spread account (formally known as the true ECN account) for MetaTrader 4 or MetaTrader 5. IC Markets archives these low spreads by not been a market maker and having STP with large liquidity pools. While the account isn’t called the true ECN account, the spreads are set by the market which is why over 10 currency pairs minimum spread is 0.0 pips including the EUR/USD, GBP/USD and AUD/USD.
As shown above, the commission of IC Markets main raw account is $3.50 per lot, per side. If the base currency is set for the Australian dollar then the commission is AUD $3.50 while US dollar base currency customers pay a higher commission rate of USD $3.50. Other key commission rates are for GBP base currency customers GBP 2.50, Euro base currency customers at EUR 2.75 and Singapore Dollar base currency SGD 4.50.
The third main trading fee component is deposit and withdrawal fees. IC Markets have a $200 minimum deposit fee and from this amount to large transactions, there are no additional fees. This applies for both withdrawals and deposits.
The reason that IC Markets don’t state there are no fees is that a number of financial institutions (eg banks) charge their own fees and NAB who IC Markets utilise charge $20 for International Wire Transfers. Overall though, IC Markets doesn’t directly charge deposit or withdrawal fees further making them one of the lowest fee brokers.
IC Markets has the lowest average spreads thanks to their ECN broker spreads, low commissions and no additional fees on deposits or withdrawals. With a low initial deposit requirement of $200 and easy funding methods, IC Markets is ideal for those looking for a low fee retail investor accounts. They have ASIC regulation with AFSL number 335692.
Best Beginner Forex Trading Platform = Plus500The Australian Investment Trends CFD report awarded Plus500 the best platform with:
Trading CFDs from Bitcoin, forex to commodities can all be done on the one trading platform with Plus500. There is a downloadable Windows 10 Trader or a WebTrader for shared devices. As shown below there are also apps for Windows Phones, Android, iPhone and iPad devices.
Investment Trends runs a client survey of CFD traders annually and found that Plus500 had the best mobile trading platform. This was based on the ease of use, functionality and range of CFDs tradable.
Trading CFDs involves a high level of risk due to leverage which in Australia is up to 300:1 (Plus500AU Pty Ltd). Other regions such as Cyprus (CYSEC) and the UK (FCA) have lower leverage. For beginner forex traders to manage higher leverage, Plus500 has three key risk management features including:
It should be noted that another risk management feature is negative balance protection only offered by a handful of brokers like easyMarkets. This ensures a Plus500 online trader never loses more than their deposit no matter what the trading conditions. For a beginner forex trader, this is an excellent feature to have.
Plus500 has an easy to use trading platform, range of tradable CFDs (such as Bitcoin) and risk management features that make it easy to try forex trading for beginners. Plus500AU PTY LTD is the ASIC subsidiary for Australian forex traders holding the AFSL number 417727.
AxiTrader is the only Australian broker that has a $0 minimum deposit on both their standard a pro account types (often referred to as the ECN broker account). There are also no setup costs as shown below when opening either MetaTrader 4 account.
The deposit methods for funds are shown below and their availability for forex traders in Australia vs overseas. It should be noted that some credit card providers may view payment to AxiTrader as a cash advance. This may lead the provider to charge additional fees so it’s worth calling them to confirm if this will be the case.
| Deposit Method | Australian Traders | Overseas Traders |
|---|---|---|
| Electronic Funds Trander (EFT) | No Fees | N/A |
| Bpay (Australian Dollars) | No Fees | N/A |
| Telegraphic Transfer | Not Available | $0 Fees |
| Debit Card | $0 Fees | $0 Fees |
| Credit Card | $0 Fees | $0 Fees |
| Neteller | $0 Fees | $0 Fees |
| Skrill | Not Available | $0 Fees |
| Global Collect | $0 Fees | $0 Fees |
| China Union Pay | Not Available | $0 Fees |
The AxiTrader overall trading fees are one of the lowest of the forex brokers. This includes their EUR/USD spreads which our analysis showed were the 4th lowest. Their commission is $3.50 USD per side ($7.00 per round trip). Only Pepperstone had a lower commission rate of $3.50 AUD when a trader chooses the Australian Dollar as their base currency. AxiTrader is ASIC regulated holding the AFSL number 318232.
AxiTrader is ideal for those looking for low trading fees and lower exposure with the option of a small deposit. With a $0 initial deposit requirement, no opening fees, deposit or withdrawal fees, they provide the most flexible trading conditions for an Australian trader.
Some traders will only choose from a range of forex brokers that also offer share trading. Having such a broker with a range of markets means they don’t require multiple accounts to trade different products. Two of the larger brokers in Australia are CMC Markets and IG and it’s no surprise that these offer currency and stockbroking services. CMC Markets as shown below offers active investor trading from just $9.90. This is significantly lower than popular stockbroking firms such as CommSec.
When choosing a platform, it is a good idea to select a CMC Markets platform that allows share trading. This is because not all platforms allow both CFD and stockbroker services. IG Markets offer L2 Dealer which allows both stockbrokers, forex and CFD trading options. View more on currency brokers that offer these services.
In Australia the best broker and forex platform combination are:
You can view our MetaTrader 5 review or MetaTrader 4 review for more details on the forex trading platforms and offers they bring to currency trading.
A forex broker main source of income is charging a spread or commission or a trade. While a buy and sell order will have a natural spread, forex brokers make money by widening this spread. ECN forex brokers avoid this income stream and rather charge a flat commission based on the trade volume.
With over $5 USD trillion traded daily, the forex market is larger than any other financial market. There is no central trading location when currency trading with forex brokers both as market makers or through ECNs (electronic communication networks) buying and selling currency globally.
Forex accounts are offered by brokers to buy, sell and hold foreign currencies. The process for trading currency is to open a forex account, make a deposit and then trade currency pairings. With the use of leverage, currency fluctuations will lead to profits or losses.
A foreign exchange market trade is the action of buying or selling a currency pairing. A trade through a broker can include CFDs including commodities, shares, indices and even bitcoin.
Forex signals is a trigger to trade a currency pairing at a specific price and often time-frame. A signal can be a forex robot or analyst generated leading a trade alert or an automated trade to be generated.
The chart below shows what foreign currency pairings are the most traded as shown from the Bank of International Statements.
The ‘top 10’ foreign currencies traded (totalling 100%) are:
The Chinese Yuan is the fastest-growing currency and is moving up the foreign currency table fast. You can read more about market growth of fx trading with our article.
When it comes to currency trading, technical analysis is a methodology used to forecast the direction of forex markets through previous market date. This includes both past prices and currency trading volume and can include three charts:
Bar charts show the high and low as well as opening and closing prices of specific periods. This is done through a line/bar format graph.
Like s bar chart, candlestick charts also show opening and closing price. They also show the high and low of the same time-frame which is the ‘candlestick’ feature making it easy to identify pivot points and trend reversals.
This chart shows a line from one closing price to another. It is not specific to a period, rather is designed to show the general direction of the market.
Forex trading fundamental analysis looks at the factors that influence currency markets including economic, political and financial factors. These elements shown on the news are used by traders to predict what the future movements will be of currency markets.
Inflation can impact a countries currency value but it can also lead to rate decisions which when increased can lead to a short-term spike in the currency. This news is shared through central banks.
High valued currencies are typically from countries in surplus with historically few deficits. These countries are in a prime position to lend and trade with other countries. Governments often make press releases regarding this news.
Government budgets are a major currency driver with well balanced, trade opening policies leading to expected growth in the economy leading to a stronger budget. A budget that does the opposite can lead to a currency devaluation after released in the news.
Active trading countries when it comes to goods and services often see an increase in demand for their currency leading to appreciation.
The largest advantage of forex trading is that unlike the stock-market that markets are always open during weekdays. From 7:00 am Australian Eastern Standard Time (AEST) the markets are open until Saturday morning. This is achievable because a region is always trading currency from London, New York, Sydney to Tokyo. On Saturday morning the final market that is open in New York. The graph below shows how there is an overlap time between London and New York. This period has a higher volume of trades as these two regions have the most traders.
A major change that impacts markets are bank holidays (also known as public holidays). Markets may close leaving a ‘gap’ in currency markets. There are also major public holidays that most countries will close markets. These including Easter and Christmas when nearly all currency markets will be closed. Generally, USA holidays impact worldwide forex trading volumes the most outside of these major holidays.
Any of the listed forex brokers above can access all the major currency markets in each country. A forex trader needs to determine their base currency when opening their account (eg Australian dollars) but this doesn’t restrict them to a trading zone. For example, you can trade the Australian Dollar to the US dollar when Australian currency markets are closed. The outcome is that currency traders have more versatility when they trade compared to those who focus on shares.
Because of the extensive hours, the Australian fx brokers shown above have support open all hours during workdays. Some like IG Markets even are open during the weekend when other CFD markets can remain open. This support can come from outside of Australia for some brokers but still will meet most trader’s needs. It’s recommended to view our reviews of Australian fx brokers customer support before joining them.
Binary options are not related to forex trading. Rather this is ‘all or nothing options’ where a trader predicts the movement of a commodity, index, currency or share price. It’s a speculative, high-risk product and Compare Forex Brokers does not recommend trading binary options.
Binary options work by predicting if in the near-future a price will be above or below a specified level. For example, will a currency pairing such as the Aussie dollar to the US dollar be trading above its current price in 60 minutes?
There are ‘once touch binaries’ which the trader tried to predict if a price will or will not reach within a specified time-frame. The other is ‘digital binaries’ which the trader needs to predict if the finishing price at a certain time will be above or below a specified level.
As discussed earlier, commodities, foreign exchange, individual shares and indices can be offered by a Binary Options trader. Contract duration of a binary option contract will be minutes to hours and in some rare cases several months. If the trader picks the correct movement they will get a fixed cash payout but if they don’t they will lose the entire investment. For this reason, the authors compare binary options to an extremely high-risk product and should only be considered by experienced traders understanding the risks involved.
Image Credit: SEC Binary Options
Only a handful of foreign exchange brokers offer binary options. There is a high number of binary options scams so the professional registry which ASIC regulates should be checked to make sure they are regulated by the Australian Securities and Investments Commission.
Most prospective forex traders often find it hard to differentiate the best 2020 Australian forex brokers and know which one is the best broker for their circumstances. This is especially true when it comes to safety and regulation with most Australian’s looking for a currency trading broker that locally regulated. This means they trade out of an Australian subsidiary and hold deposits within the country.
To help speed up the process of choosing the right forex broker only Australian Securities And Investments Commission (ASIC regulated) firms were listed on this page. To make the figures relevant to Australian foreign exchange market conditions, other third-party sources were also used to collect data such as spreads and fees. Below shows the complete Australia forex broker list.
| Australian Forex broker | Office Location | Max leverage | Forex Platform(s) | Regulation |
|---|---|---|---|---|
| Admiral Markets | Sydney | 500:1 | MT4, MT5 | AFSL 410681 |
| AETOS | North Sydney | 200:1 | MT4, Multi-Account Management | AFSL 313016 |
| AVATrade | Sydney | 400:1 | MT4, AvaTradeAct, | AFSL 406684 |
| AxiTrader | North Sydney | 400:1 | MT4 | AFSL 318232 |
| BMFN | Sydney | 200:1 | MT4, LMAX | AFSL 379035 |
| City Index | Sydney | 200:1 | MT4, AT Pro | AFSL 345646 |
| CMC Markets | Sydney | 500:1 | CMC Next Generation | AFSL No. 238054 |
| Core Liquidity Markets | Sydney | 400:1 | MT4, Multi-Account Trader | AFSL 305539 |
| Direct FX | Sydney | 400:1 | MT4, Multi0Account Manager , CQG FX | AFSL 305539 |
| easyMarkets | Sydney | 400:1 | MT4, easyMarkets | AFSL 246566 |
| EightCap | Melbourne | 500:1 | MT4 | AFSL 391441 |
| Forex.com | Sydney | 200:1 | MT4, FOREX Trader PRO | AFSL 345646 |
| Forex FS | Sydney | 500:1 | MT4, JForex, | AFSL 323193 |
| FP Markets | Sydney | 500:1 | MT4, IRESS Suite | AFSL 286354 |
| FXCM | Sydney | 400:1 | MT4, NinjaTrader, Trading Station | AFSL 309763 |
| FXGiants | Sydney | 200:1 | MT4, Personal Multi-Account Manager | AFSL 417482 |
| FXOpen | Sydney | 500:1 | MT4 | AFSL 412871 |
| Global Prime | Sydney | 200:1 | MT4, FIX API, MAM/PAMM | AFSL 385620 |
| GO Markets | Melbourne | 300:1 | MT4 | AFSL 254963 |
| Hantec Markets Australia | Sydney | 200:1 | MT4, Interbank Direct | AFSL 326907 |
| IC Markets | Sydney | 500:1 | MT4, MT5, cTrader | AFSL 335692 |
| IG | Melbourne | 200:1 | MT4, L2 Dealer, ProRealTime | AFSL 220440 |
| Invast | Sydney | 100:1 | MT4, IRESSTrader, MaxxTrader | AFSL 438283 |
| JB Alpha | Melbourne | 100:1 | MT4 | AFSL 327075 |
| KVB Kunlun | Melbourne | 200:1 | Forex Star | AFSL 226602 |
| OANDA | Sydney | 100:1 | OANDA, MT4 | AFSL 412981 |
| Pepperstone | Melbourne | 500:1 | MT4, MT5, cTrader | AFSL 414530 |
| PhillipCapital | Melbourne | 100:1 | MT4, Phillip CFD Trader | AFSL 246827 |
| Plus500 | Sydney | 300:1 | CFD Trading Platform Only | AFSL 417727 |
| Royal Financial Trading | Sydney | 400:1 | MT4 | AFSL 420268 |
| Rubix FX | Melbourne | 400:1 | MT4, Rubix Prime | AFSL 337985 |
| Saxo Bank | Sydney | 50:1 | Saxo Trader | AFSL 280372 |
| Synergy FX | Melbourne | 500:1 | MT4, Social Trader | AFSL 403863 |
| ThinkMarkets | Melbourne | 400:1 | MT4, Trade Interceptor | AFSL 424700 |
| USGFX | Sydney | 500:1 | MT4, ZuluTrade | AFSL 302792 |
| Vantage FX | Sydney | 500:1 | MT4, MT5, MarketTrader | AFSL 428901 |
| XM | Sydney | 500:1 | MT4, MT5 | AFSL 443670. |
While the ASIC regulated forex broker table above only have Australian regulated foreign exchange brokers, several other tables look at online brokers based on key requirements ranging from ‘low fees’ to ‘high leverage’. We also focus on CFD providers such as Plus500 CFDs, FXCM and IG Markets for those looking for more than just currency trading. Most of these forex trading platforms are nationally regulated as the authors rated higher brokers that offered Australians the higher level of security. Since this is the case, it’s recommended that individuals view the ASIC Regulated Forex Brokers to suit their forex trading style.
This Australian foreign exchange broker comparison was based on individual brokers websites. Without the use of feeds or automation, the authors were able to give a more informed decision but it can lead to inaccuracies occurring. This is mainly due to foreign exchange brokers changing information (such as their average spreads) without notice. Please inform the authors if you see an inaccuracy. To ensure forex traders make the right decision, Compare Forex Brokers sends all users to individual brokers websites to join. At this point, the trader should verify the information found on this site to ensure the broker meets their requirements.
