Best Australian Beginner Forex Trading Platforms

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

  • Pepperstone Pepperstone - Best Forex Trading Platform For Beginners
  • IC Markets IC Markets - Lowest Spread Novice Trading Account
  • think markets logo ThinkMarkets - Good Range of Trading Tools
  • FP Markets FP Markets - Top Beginner Demo Account
  • Plus500 Plus500 - Great Risk Management Trading Features
  • eToro eToro - Top Beginner Social Trading Platform
  • fxpro logo FxPro - Best cTrader Beginner Forex Broker
  • CMC Markets CMC Markets - Best mobile trading platform for beginners
  • oanda logo Oanda - Top CFD web-based trading beginner software

Pepperstone
IC Markets
ThinkMarkets
eToro
Plus500
Our Rating
9.33
8.50
7.67
7.17
5.83
Fast Execution Speed
No Dealing Desk
STP Order Execution
CopyTrader functionality
for automated trading
Trade cannabis index

Regulations and Licenses

Feature
Pepperstone
IC Markets
ThinkMarkets
eToro
Plus500
ASIC (Australia)

Brokerage

Feature
Pepperstone
IC Markets
ThinkMarkets
eToro
Plus500
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
0.80
EUR/USD Fixed Spreads
-
-
-
-
-
Commissions (USD Base)
$3.50
$3.50
$3.50
-
-
Minimum Deposit
$0
$0
$0
$200
$100
Swap Free Account
No Inactivity Fees
Funding Methods
16+
15+
6+
11+
3+
No Funding Fees

Markets and Instruments

Feature
Pepperstone
IC Markets
ThinkMarkets
eToro
Plus500
Currency Pairs
62+
61+
46+
49+
71+
Cryptocurrency CFDs*
12+
18+
21+
46+
15+
Index CFDs
14+
16+
21+
13+
67+
Share CFDs
300+
100+
1200+
2000+
1816+
Commodities CFD
9+
26+
15+
33+
22+
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
500:1
500:1
400:1
300:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations
*CFD trading is not available in the USA due to NFA and CFTC regulations, American traders spot trade in place of CFDs.

Trading Platforms + Tools

Feature
Pepperstone
IC Markets
ThinkMarkets
eToro
Plus500
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account

Overall

Pepperstone
IC Markets
ThinkMarkets
eToro
Plus500
Broker Official Site Our Rating Regulation EUR/USD Spread GBP/USD Spread AUD/USD Spread MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
Visit Broker > 9.33 ASIC, FCA
CySEC, DFSA
0.17 0.59 0.24 85ms $0 62+ 12+ 30:1 500:1
Visit Broker > 8.50 ASIC, FSA
CySEC
0.02 0.23 0.17 130ms $0 61+ 18+ 30:1 500:1
Visit Broker > 7.67 FCA, FSCA
ASIC,FINMA
0.1 - - 140ms $0 46+ 21+ 30:1 500:1
Visit Broker > 7.17 ASIC, CySEC
FCA, FSA
- - - 130ms $200 49+ 46+ 30:1 400:1
Visit Broker > 5.83 ASIC, CySEC
FCA, FMA
- - - 140ms $100 71+ 15+ 30:1 300:1