Best Forex Trading Platform For Beginners in Australia

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

  • ThinkMarkets – Best Forex Trading Platform Overall For Beginners
  • Pepperstone – Top MetaTrader 4 and 5 Trading Platform For Beginners
  • IC Markets – Best CFD Product Range For Beginners
  • Plus500 – Great Platform with Beginner Risk Management Tools
  • eToro – Super Platform with Social Trading Tools For Beginners
  • FxPro – Offers cTrader Trading Platform; Terrific For Beginners
  • FP Markets – Best Virtual Trading Demo Account for Beginners
  • CMC Markets – Best Mobile Trading Platform for Beginners
  • OANDA – Best CFDs Web Platform for Beginners (Oanda Trade)

Broker Reviewed

ThinkMarkets
Pepperstone
IC Markets
Plus500
FP Markets
Our Rating
7.67
9.17
8.83
5.83
8
Negative Balance Protection
Most Awarded Broker
Best Spread Broker
80.5% of retail CFD accounts lose money
Fastest Limit Order Speed

Regulations and Licenses

Feature
ThinkMarkets
Pepperstone
IC Markets
Plus500
FP Markets
ASIC (Australia)
FSCA (South Africa)
Pending

Brokerage

Feature
ThinkMarkets
Pepperstone
IC Markets
Plus500
FP Markets
EUR/USD Avg. Raw Spread
0.1
0.13
0.10
0.09
GBP/USD Avg. Raw Spread
0.51
0.40
0.49
AUD/USD Avg. Raw Spread
0.18
0.20
0.30
EUR/USD Standard Spread
1.13
1.10
0.6
1.19
EUR/USD Fixed Spreads
1.2
Commissions (USD Base)
$3.50
AUD $3.50
USD $3.50
USD $3.00
Commission Rebates
Minimum Deposit
$0
$200
USD $200
100
$100
Has Islamic Account
No Inactivity Fees
Funding Methods
6
16
15
3
8
No Funding Fees

Markets and Instruments

Feature
ThinkMarkets
Pepperstone
IC Markets
Plus500
FP Markets
Currency Pairs
38+
66+
65+
60+
45
Cryptocurrency CFDs
5+
4+
10+
14+
5
Index CFDs
21+
2+
16+
67+
10
Share CFDs
1200+
5+
100+
1816+
12,986
Commodities CFD
10+
4+
19+
17+
3
Stockbroking
Retail Max. Leverage
500:1
500:1
500:1
300:1
500:1
Professional Leverage
500:1
500:1
500:1
300:1
500:1

Trading Platforms + Tools

Feature
ThinkMarkets
Pepperstone
IC Markets
Plus500
FP Markets
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Guaranteed Neg Protection
ESMA regulated territories only
ESMA regulated territories only
ESMA regulated territories only
Demo Account
Unique Feature 1
STP Order Execution
Smart Trader Tools
ECN pricing
Trade cannabis index
Fastest Limit Order Execution Speed
Unique Feature 2
Uptime record of 99.99%
Fast Execution Speed
Range of fee free funding options
Guaranteed stop loss
No Dealing Desk Execution

Overall