Australian traders funds are secure when using an ASIC regulated forex broker as the FX broker must comply with tier-1 levels of regulatory compliance. Our team of experts recommend their best ASIC regulated forex brokers for Aussies
See our best ASIC regulated forex brokers for Australians below.
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Traders in Australia should choose a broker with ASIC regulation. These are out best
Pepperstone comes on top of our list of best ASIC regulated forex brokers for 2021. Founded in Melbourne in 2010, Pepperstone Group Limited is authorised as an Australian financial services provider and complies with strict regulatory standards by the Australian Securities and Investments Commission (ASIC).
One of Pepperstone’s biggest advantages is the opportunity for clients to trade Forex with low trading costs. Major currency pairs such as EUR/USD, GBP/USD and USD/JPY can be traded with ultra-low spreads that start from 0.0 pips on the broker’s Razor trading account. What is more, our review has concluded the average spreads on all of Pepperstone’s CFD products are quite competitive. Let us consider some of the following trading instruments:
Since Pepperstone ensures ECN-style trading conditions on its Razor Account, retail clients will have to pay a small commission. Pepperstone minimum trading commission starts from AUD $3.50 per standard lot and from USD 0.02 per share for stock CFD trading.
Pepperstone offers an exclusive Active Trader program geared towards premium clients. To qualify for Pepperstone’s premium client status, Australian traders need to generate at least USD 15 million national volume “for two consecutive calendar quarters.”
On the other hand, there will be a commission discount (rebate) for Australian clients, depending on the generated monthly trading volume. In other words, the more clients trade, the higher the commission discount they will receive. Australian FX traders can typically get up to USD 500 in monthly rebates.
Australian clients are able to access the Forex market through three popular trading platforms:
Pepperstone ECN pricing infrastructure is able to ensure exceptional execution of trade orders. The Australian-based broker has disclosed that the majority of its client orders are filled in less than 30 ms. We conducted an independent third-party test and found that Pepperstone is the fastest Australian forex broker.
Pepperstone is an award-winning company with over 34 global awards. The award categories cover things like spreads, execution speed, platform tools, client satisfaction, trading conditions and much more.
Pepperstone offers more than 150 financial instruments across 5 asset classes:
We should also note that, for all of its account types, the broker requires one of the lowest min deposits on the market – AUD 200.
Pepperstone offers outstanding 24/5 multilingual customer support service via live chat, email, and over the phone. What really impressed us was the support team’s fast response time and relevant answers to our inquiries.
Among the Australian forex brokers reviewed, Pepperstone offers the most competitive trading conditions. Pepperstone has a Trustpilot Customer Satisfaction Score of 4.5 stars out of 642 reviews. Click the button below and take advantage of spreads from 0.0 pips, fast execution speed, 30:1 leverage, over 150 CFD instruments, fee-free funding options and much more.
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The overall rating is based on review by our experts
FP Markets is one of the most reputable CFD brokers under ASIC regulation with 15 years of business history. With over 10,000 tradable instruments, FP Markets claims the spot as one of the biggest Australian Forex brokers.
FP Markets is an Australian-based CFD and FX broker authorised and regulated by the local regulatory agency ASIC and other financial institutions:
FP Markets offer access to CFDs across Forex, Indices, Commodities, Stocks & Cryptocurrencies on consistently tighter spreads in unparalleled trading conditions.
FP Markets offers over 10,000 CFDs, the richest selection among ASIC regulated brokers. With FP Markets clients are able to trade CFDs across six asset classes:
Risk Warning: Similar to other regulated CFD brokers, FP Markets warn that CFD trading through retail investor accounts is associated with a high risk of losing capital rapidly, as leverage is used.
On the other hand, if clients have a robust trading system, constantly improve their knowledge of the market and work with some of the best ASIC regulated CFD brokers such as FP Markets, CFD trading could actually generate plenty of opportunities for long-term success. Let us consider some of its advantages:
The broker assures client funds are kept in segregated accounts at top-tier financial institutions.
Overall, FP Markets combines the DMA pricing model and the ECN pricing model to offer transparent pricing and promote fair trading across +10,000 CFD instruments. FP Markets has the highest Trustpilot Customer Satisfaction Score of 4.9 stars out of 1,180 reviews. Our forex broker Australia comparison found they had the fastest execution speeds ideal for intermedia to expert Australian forex traders.
Aussie traders that are cost-conscious and want low-commission trading can choose Fusion Markets. Their commission charges are USD 2.25 per 100,000 units traded per side. Fusion Markets is a trading name of Gleneagle Asset Management Limited, an entity based in Melbourne and regulated by the Australian Securities and Investments Commission (ASIC) under Australian Financial Services License No. 226199.
You can’t control the markets, but you can control your trading costs.
When it comes to low-cost Forex, Crypto and CFD trading offers by ASIC regulated brokers, Fusion Markets clearly stand out.
The company claims to offer the lowest advertised Forex trading commissions among ASIC Forex brokers, with its commission rate being nearly 36% lower compared to that of competitors.
As a true ECN broker, Fusion Markets offers ultra tight spreads, starting from 0.0 pips, and charges a round-turn commission as low as AUD 4.50 per 1 Standard Lot traded on its ZERO Account. Depending on the base account currency chosen, the commissions charged on Fusion Markets’ ZERO Account are as follows:
Because of the nature of ECN technology, Forex spreads remain quite competitive on the broker’s Classic Account as well – as low as 0.8 pips on major currency pairs such as EUR/USD and USD/JPY. In addition, there are no trading commissions associated with this account type.
Fusion Markets also offers a wider range of Forex pairs compared to other ASIC Forex brokers – more than 90 pairs traded with leverage of up to 1:30 and no dealing desk execution.
Another key advantage of this Australian broker includes no fees on deposits and withdrawals for all payment options. Clients are able to fund their trading account by using 4 standard methods such as:
Finally, there is no minimum deposit requirement to open a live trading account, while clients’ funds are kept fully segregated.
In our ASIC regulated forex broker review, Fusion Markets charges the lowest commissions. Fusion Markets has a Trustpilot Customer Satisfaction Score of 4.8 stars out of 193 reviews. Our recommendation is to use this Australian-based FX broker for accessing ECN/STP trading condition with the lowest charges.
View Fusion Markets Review >>Visit Fusion Markets >>
Compare Forex Brokers’ top pick for the best ASIC regulated broker for beginners is AvaTrade. AvaTrade is a leading CFD and Forex broker regulated on five continents and has offices in 9 countries. AvaTrade is authorised and regulated by:
Trade with confidence and benefit from regulation across 6 jurisdictions regulation across 6 jurisdictions
First of all, we consider AvaTrade as the most appropriate choice for inexperienced Forex traders due to the comprehensive educational section on its website. The broker offers well-structured trading guides for beginners with all the information they need to start trading Forex and CFDs more confidently.
The guides cover a wide range of topics from basic Forex terms to:
AvaTrade also offers a selection of trading videos (tutorials), including content for beginners in particular, as well as content covering trading strategies, trading platforms and more advanced trading tools.
Beginners can also take advantage of other online resources on CFD and Forex trading, such as AvaTrade’s eBook.
Last but not least, the broker grants access to its premium educational website with exclusive content for clients, known as Sharp Trader. It features all the necessary information day traders could use, including:
The website also allows clients to review and monitor the progress of their Forex trading training.
Along with good educational materials, beginner traders need a user-friendly and easily customizable trading platform. AvaTrade’s MetaTrader 4 software solution may be just the right choice for Forex traders with little or no experience – a flexible, responsive, easy to navigate, easy to access (from PCs, web browsers and mobile devices) platform that offers a variety of analytic tools, allows for micro lot trading and guarantees full data back-up and security.
And not to forget the broker’s free Demo account that comes with $100,000 of virtual funds. It is recommended for beginners to utilize the opportunity to test various trading strategies, get acquainted with the broker’s trading platforms and tools on a Demo that mimics real market conditions before start trading high-risk derivative instruments (CFDs) on a Live account.
Trading forex in Australia is extremely popular, and AvaTrade is dedicated to meet the demands of novice traders. AvaTrade has a Trustpilot Customer Satisfaction Score of 4.1 stars out of 2,691 reviews. The top-notch educational resources and research section can help Australian residents make more informed trading decisions.
Go Markets was handpicked as the best MetaTrader broker in Australia, offering the full suite of MT4 and MT5 platforms. Founded in 2006 in Australia, GO Markets is an online CFD trading services provider authorised and regulated by the ASIC (AFSL No. 254963).
GO Markets is one of Australia’s original Meta Trader 4 Forex brokers.
Our team of experts recommends this award-winning broker to traders interested in MetaTrader 4 and MetaTrader 5 trading platforms, as GO Markets has ensured:
In addition, the broker’s MetaTrader 5 software grants access to free and paid trading signals, VPS, 4 order execution mode, hedging, 80 built-in technical indicators, news reports and full EA functionality.
Finally, we should not forget the broker’s MT4 & MT5 Genesis suite, a package of advanced MetaTrader trading tools compatible with Forex, Indices and Commodities. MT4 & 5 Genesis is a suite of expert advisors that can be easily applied to clients’ live accounts.
The key trading tools Australian traders can enjoy it includes:
Overall, Go Markets is the best MetaTrader broker that can help Aussie traders get started trading forex. This Australian-based broker has a Trustpilot Customer Satisfaction Score of 4.3 stars out of 27 reviews. Click the button below if you want to trade with the most popular trading platform in the industry.
View Go Markets Review >>Visit GO Markets >>
Overall, ThinkMarkets offer the best online trading apps for Aussie forex traders. ThinkTrader is a proprietary mobile platform, fully functional, easy-to-use interface and it’s safe. Regulated by 2 tier-one financial watchdogs and 1 tier-2 financial agency, ThinkMarkets is the trading name of:
ThinkTrader….. An intelligent platform to power your trading every step of the way
Our team of industry experts highly recommends ThinkMarkets for its mobile trading software solutions.
ThinkTrader Mobile is ThinkMarkets’ innovative proprietary trading platform, which comes with an array of unique features:
Along with ThinkTrader Mobile, clients of ThinkMarkets can enjoy the full MetaTrader 4 experience on the broker’s MT4 mobile apps for iOS and Android. They feature the full functionality of the desktop version of the platform and provide:
Additionally, clients are able to harness the power of ThinkMarkets’ MetaTrader 5 platform on any mobile device. It offers 12 additional time frames, 2 additional pending order types, a multi-thread strategy tester, a built-in Economic Calendar, the opportunity for partial order filling and the opportunity for position hedging and netting.
Trading on the go with ThinkMarkets offers one of the best trading experience. Think Markets have a Trustpilot Customer Satisfaction Score of 3.9 stars out of 56 reviews. Active traders can trade with the peace o mind that their money is protected by the negative balance protection policy.
View ThinkMarkets Review >>Visit ThinkMarkets >>
IC Markets is our top pick for low spread forex brokers. This ASIC regulated broker offers zero spread accounts with no requotes, reduced slippage and leverage up to 1:30. Forex trading with IC Markets is considered safe since it’s regulated in two tier-1 jurisdictions and one tier-2 jurisdiction:
“Trade with a peace of mind knowing IC Markets is monitored by one of the strictest financial regulatory body in the world.”
IC Markets offer superior spreads due to its diverse network of liquidity providers. During regular trading hours when there is abundant forex market liquidity, forex traders can expect average spreads from:
Below our team of experts will outline the key trading conditions found in the IC Markets retail investor accounts.
In this section, we’re going to highlight the difference in trading conditions between IC Markets standard spread account and the raw spread model. At IC Markets, spreads are competitive, but they vary across the 3 different account types offered:
Additionally, IC Markets offers an Islamic account with no swaps available across all 3 trading accounts. Which account type is the best for Australian forex traders depends on their trading needs and demands.
According to a third-party independent verification process, the average EUR/USD spreads is 0.0 pips 95% of the time. The spread was verified using price data from 01 August 2019 to 31 Dec 2019 available through the Raw spread account.
Check the table below to see how much money you can save by using the Raw Spread account compared to the Standard account.
In summary, with the Raw Spread account, Australian residents can save on the spread costs up to USD 10 for each 1 standard lot traded. In other words, IC Markets standard account gives you spreads with a 1 pip markup and no additional commission charged.
IC Markets keeps its spreads low across all financial markets offered, including CFDs. All financial markets have a bid and ask spread, and so does CFDs. CFD trading with IC Markets involves paying 0.4 points spread on indices and 1.0 points on gold.
For a full CFD spread comparison of all ASIC regulated brokers, please study the table below.
Note* The above CFD spread comparison is based on the Raw ECN accounts.
Compared to other ASIC regulated forex brokers, IC Markets spreads are the most competitive. IC Markets have a Trustpilot Customer Satisfaction Score of 4.5 stars out of 2,959 reviews. You can register with IC Market and enjoy the lowest spreads in the industry by clicking the button below.
Among the ASIC forex brokers reviewed, eToro was selected as the best social trading broker. eToro is a globally regulated broker and a leading social trading platform for currencies, stocks, indices, commodities and cryptocurrencies.
Founded in 2007 and headquartered in Limassol, Cyprus, eToro is authorised and licensed by the local regulatory agency ASIC with AFSL licence number 491139. This social trading broker has also a strong global presence being regulated by other tier-one financial watchdogs, including:
The strong regulatory supervision strengthens the broker’s trustworthiness. Additionally, the regulatory frameworks ensure your money is protected by “industry-leading security protocols.”
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eToro’s award-winning CopyTrader platform can be accessed with a minimum deposit of AUD $200. A few statistics that make eToro copy trading platform stand out among the ASIC forex broker reviewed, include:
One of the unique features Australian traders can enjoy is copying trades for over 120 supported cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, etc.). Crypto traders can use the eToro social trading platform to connect with over 10 million traders and copy their trades. Additionally, eToro provides cryptocurrency investors with an all-in-one solution for the blockchain technology, including:
Overall, eToro is an all-in-one broker that allows copy trading with ease and confidence. On the downside, the trading costs are relatively high compared to other ASIC regulated brokers. eToro has a Trustpilot Customer Satisfaction Score of 2.2 ratings based on 2,193 reviews. Australian residents can test drive eToro CopyTrader platform using USD 100,000 in free virtual funds. Start copy trading by clicking the button below.
The Australian Securities and Investments Commission (ASIC) is an independent Australian government regulatory agency, which enforces corporate and financial services legislation to protect investors, consumers and creditors in Australia. The ASIC administrates the entire or parts of the following laws:
The ASIC was initially established as the Australian Securities Commission (ASC) on August 1st 1991 under the ASC Act 1989. The regulator became the Australian Securities and Investments Commission (ASIC) on August 1st 1998, while its areas of responsibility expanded to:
On August 15th 2011, the ASIC launched its Money Smart consumer website. Moneysmart is the ASIC’s project, which includes a website, publications and education programs, aimed to help consumers make informed financial decisions. This new website replaced the regulator’s two preceding consumer web pages – Understanding Money and FIDO. The agency is responsible for regulating registered companies, financial markets as well as providers of financial services and credit services in Australia. The ASIC aims to ensure the integrity, efficiency and transparency of local financial markets and to support investors’ informed participation there.
ASIC announced changes that will go live on the 29th of August, including reduced leverage. View the 2021 forex trading changes announced on the 23rd of August.
Justin Grossbard has been investing for the past 20 years and writing for the past 10. He co-founded Compare Forex Brokers in 2014 after working with the foreign exchange trading industry for several years. He also founded a number of FinTech and digital startups including Innovate Online and SMS Comparison. Justin holds a Masters Degree and an Honours in Commerce from Monash University. He and his wife Paula live in Melbourne, Australia with his son and Siberian cat. In his spare time, he watches Australian Rules Football and invests on global markets.