Best Australian Beginner Forex Trading Platforms

Here are our best trading platforms for beginners in Australia by category:

  • Pepperstone Pepperstone – Top MetaTrader 4 and 5 Trading Platform For Beginners
  • FP Markets FP Markets - Best Virtual Trading Demo Account for Beginners
  • IC Markets IC Markets - Best Spreads For Beginner Traders
  • thinkmarkets logo new ThinkMarkets – Best Range of Trading Tools For Beginners
  • Plus500 Plus500 – Great Platform with Beginner Risk Management Tools
  • eToro eToro - Super Platform with Social Trading Tools For Beginners
  • fxpro logo new FxPro - Offers cTrader Trading Platform; Terrific For Beginners
  • cmc markets logo CMC Markets – Best Mobile Trading Platform for Beginners
  • oanda logo Oanda – Best CFD Web Platform for Beginners

Pepperstone
Plus500
IC Markets
ThinkMarkets
eToro
Our Rating
9.17
5.83
8.50
7.67
7.17
74.7% of retail investor accounts lose money when trading spread bets and CFDs with this provider
77% of retail CFD accounts lose money
77% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd
75.5% of retail investor accounts lose money when trading CFDs with this provider
68% of retail investor accounts lose money when trading CFDs with this provider.

Regulations and Licenses

Feature
Pepperstone
Plus500
IC Markets
ThinkMarkets
eToro
ASIC (Australia)

Brokerage

Feature
Pepperstone
Plus500
IC Markets
ThinkMarkets
eToro
EUR/USD Avg. Raw Spread
0.17
-
0.02
0.1
-
GBP/USD Avg. Raw Spread
0.59
-
0.23
-
-
AUD/USD Avg. Raw Spread
0.24
-
0.17
-
-
EUR/USD Standard Spread
0.75
-
0.62
-
3.00
EUR/USD Fixed Spreads
-
-
-
-
-
Commissions (USD Base)
$3.50
-
$3.50
$3.50
-
Minimum Deposit
$0
$100
$0
$0
$200
Swap Free Account
No Inactivity Fees
Funding Methods
16+
3+
15+
6+
11+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
Plus500
IC Markets
ThinkMarkets
eToro
Currency Pairs
62+
71+
61+
46+
49+
Cryptocurrency CFDs*
12+
15+
18+
21+
46+
Index CFDs
14+
67+
16+
21+
13+
Share CFDs
300+
1816+
100+
1200+
2000+
Commodities CFD
9+
22+
26+
15+
33+
Stockbroking
-
-
-
-
2000+
Retail Max Leverage (Australia)
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Major Pairs 30:1
Minor Pairs 20:1
Pro. Max Leverage (Australia)
500:1
300:1
500:1
500:1
400:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Feature
Pepperstone
Plus500
IC Markets
ThinkMarkets
eToro
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account
Unique Feature
Smart Trader Tools
Trade cannabis index
ECN pricing
STP Order Execution
CopyTrader functionality
for automated trading

Overall