Best Forex Trading App Australia

Pepperstone Has Great Range of Platforms (incl. MT4)

With a great range of trading platforms coupled with a wide variety of trading tools, Pepperstone has many platform advantages for mobile trading.

One of these advantages is locking in competitive prices at high speeds with the broker due to Pepperstone having servers in the NY4 Equinix data centres, resulting in less risk of slippage.

Pepperstone also offers some of the best customer support coverage out there, with 18-hour customer support on the weekend, along with 24-hour coverage during the workweek.

Mobile Apps – MetaTrader, cTrader, TradingView

Like Eightcap, Pepperstone is a third-party app specialist, particularly the two MetaTrader platforms. You can trade via 3 apps: MT4, MT5, and cTrader.

Mobile App Features

While we have already gone over the MT4 and MT5 features, it’s worth adding that despite MT5 being superior in terms of features, MT4 is still the most popular platform, particularly amongst forex traders. Given the size of the community, this means there is good support for the platform.

The addition of cTrader gives Pepperstone a competitive advantage in terms of the variety of platforms on offer.

cTrader has been custom designed for use with ECN brokers, with the execution of trades and charting front of mind when using the platform. You can find cTrader under ‘Pepperstone cTrader’ in Google Play or the Apple store.

Trading Accounts

Pepperstone offers the Standard and Razor accounts based on the trading platforms they offer: MetaTrader, cTrader and TradingView.

The Razor account also offers spreads with an average between 0 and 0.2 pips for the most popular Forex pairs, with commissions varying from $6 round-turn if you opt for cTrader/TradingView or $7 should you choose the MetaTrader platforms.

The Standard account is commission-free and with competitive average spreads, as low as 0.6 pips for EUR/USD. This account is suited for the long-term trader, where variability in the spread isn’t as much of a factor.

You can further reduce your costs if you utilise Pepperstone’s Active Trader program, which rewards high-volume traders with rebates (check their website for more info).

The below table highlights Pepperstones average spreads compared with other major brokers. These are published on the broker’s website and updated monthly.

Standard Account Spreads	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD
	0.75	0.85	1.40	1.19	0.86
	0.86	0.74	1.19	1.19	0.83
	0.70	1.30	1.30	2.20	1.40
	0.80	0.90	1.70	1.80	0.80
	1.10	1.10	1.10	1.60	1.50
	1.20	1.40	1.70	1.50	1.30
	1.10	1.20	1.40	1.50	1.20
	1.30	1.40	1.50	1.50	1.40
	1.20	1.20	1.40	1.40	1.20
	1.20	1.20	1.40	1.40	1.40

Data taken from broker website. Accurate as at 01/07/2022

Compare Lowest No Commission Spreads >>

Spreads on the Pepperstone standard account are some of the lowest in the industry, making them a safe choice for no commission trading.

Desktop and Web Trading Platforms

All of Pepperstone’s third-party platforms (listed below) are available as desktop or web trading platforms.

For autotrading enthusiasts, cTrader has an additional benefit, letting you use cTrader Automate, a useful algorithmic trading tool.

Pepperstone also has a great range of social trading platforms, which include the popular MyFxBook, DupliTrade and the native MetaTrader plugin, Trading Signals, all with their own specific trading advantages.

MyFxBook is suited for auto-trading (without the need for advanced coding skills), DupliTrade for proprietary FX signals and Trading Signals allows you to access thousands of expert trading strategies from MT4 and MT5.

Pepperstone package it all together by allowing you to trade on multiple trading platforms using only one account.

View Pepperstone Review >>Visit Pepperstone >>

eToro Is A Top Social Trading Broker

With the best social investment network out there, eToro is our top social trading broker, delivering a user-friendly and inclusive app that is suited for those new to trading.

Another key feature of eToro as a social trading broker includes their impressive and unique CopyTrader and SmartPortfolios platforms, copy trading platforms designed both for individuals and fund managers.

Mobile App – eToro App Features

eToro’s proprietary app has a lot of advantages, particularly with the easy-to-use interface and focus on social trading, available on both iOS and Android devices.

Unlike a lot of mobile apps, eToro’s app has similar trading features as the web trader counterpart, which will suit those who trade on the go regularly.

An intuitive app, some of these trading benefits include having transparent fees and over 3000 financial tradeable instruments to choose from.

eToro also offers the eToro Money app for crypto trading and money transfers, which also includes support for social trading. There are 108 supported cryptocurrency pairs.

The app may lack in terms of customisation tools, such as advanced charting or technical indicators but there is still great support in terms of research tools and their well-established eToro social trading community.

Trading Accounts

To keep it simple, eToro only has a Standard Account, which doesn’t charge a commission fee.

With this account, you are likely to average 1 pip Forex spreads (on the wider side) but you get the added bonus of $100,000 credited directly into a virtual portfolio to practice trading (with virtual money) in a live market environment.

You can also open a swap-free (or Islamic) account that complies with Sharia Law for a $1000 minimum deposit.

Desktop and Web Trading Platforms

The eToro trading platform is available as a web trader, which is where the platform really shines. Here you will get access to more features available such as ProCharts, which has 66 indicators, 13 drawing tools, and the ability to create watchlists.

eToro also offers two social trading-specific platforms: CopyTrader and Smart Portfolios (formerly CopyPortfolios).

CopyTrader has the retail investor in mind, allowing you to copy the successful trading strategies of experienced investors. If you are a professional trader, you can receive exclusive benefits with the Popular Investor program such as spread rebates, monthly payments, and even a management fee if you allow other investors to copy your strategy, based on four levels, from Cadet to Elite.

SmartPortfolios is designed for portfolio management. As such, the platform is great for fund managers by grouping traders into single funds for copy trading. This could benefit both self-directed and passive traders looking to diversify or create a portfolio based entirely on one or more CopyPortfolios.

View eToro Review >>Visit eToro >>

*Your capital is at risk ‘68% of retail CFD accounts lose money’

SaxoBank Has Impressive Platform Performance

SaxoBank scores points not only for a stunning selection of 40,000 tradeable securities but also for an impressive selection of platforms, across the board, that are amongst the best performing on mobile.

As well as Saxo Bank’s flagship platform, SaxoTraderGo, which includes everything traders need to navigate the market, the broker also offers SaxoTraderPRO (for desktop), alongside third-party platforms such as TradingView, MetaTrader, MultiCharts, and other trading connectivity via API.

The Australian broker is also competitively priced, particularly for active traders, and those able to maintain large account balances.

Mobile App – SaxoTraderGo, MT4, TradingView

The SaxoTraderGO app houses an astonishing amount of features and trading tools, in an impressive, intelligent design. From the charting front, there are 20 drawing tools and 62 charting indicators. There is also an abundance of info within each tab including related videos, articles, news headlines, market research, and trading signals.

SaxoInvestor is another handy platform that gives you the opportunity to build long-term portfolios across stocks, bonds, mutual funds, ETFs, and SaxoSelect portfolios. The key difference between SaxoInvestor and SaxoTraderGO is a simpler interface that caters for the needs of the typical investor as well as access to cash products solely.

SaxoBank also offers useful third-party platforms, MetaTrader 4 and TradingView as alternatives to their proprietary platforms as downloadable apps.

Trading Accounts

Saxo Bank has 3 types of trading accounts: Classic, Platinum and VIP, all of which are commission-free for Forex. When CFD trading, commissions only apply for stocks and ETFs.

Entry fees are more expensive than your average broker but the pricing overall is amongst the best of all online brokers.

As such, most of these accounts we would recommend for more experienced traders.

One thing to note is that Saxo offers far more than CFDs. Most CFD products are also available as spot/leverages products and investment products. Interestingly only 7 forex pairs are available for CFD trading but 190 pairs use spot and 130 with forwards.

Another interesting point to note is cryptocurrencies are not available as CFD but can be traded using spot and as ETFs and ETNs.

Web and Desktop Trading Platforms

In addition to its mobile trading apps, SaxoBank has an excellent array of web and desktop platforms with streamlined designs and robust trading tools.

Of Saxobank’s main trading platforms, both SaxoTraderGo and SaxoInvestor have web counterparts. There is also the SaxoTraderPRO platform, which is desktop-only.

Saxo Bank’s proprietary platform suite added more features last year, including the addition of crypto trading, its new Hot Topics tab, and integrated webinars. The platform balances ease of use with advanced features seamlessly, without sacrificing functionality.

Meanwhile, SaxoTraderPRO has a similar look and feel to SaxoTraderGO. However, the PRO platform offers a larger selection of professional trading features, supporting up to six monitors, streaming Level 2 order books, streaming time and sales, and algorithmic orders.

Then there are the third-party platforms, TradingView, MetaTrader, Dynamic Trend, Updata, MultiCharts, and other trading connectivity via API.

View Saxo Markets Review >>Visit Saxo Markets >>

Oanda Has Top Charting with FxTrade and TradingView

Oanda is another highly reputable broker with top-charting via the TradingView mobile app and plenty of support for third-party platforms.

Regulated in six tier-1 jurisdictions, Oanda is considered a safe broker (low-risk) for forex and CFDs trading.

The broker also offers excellent quality market research articles and daily analysis updates.

Mobile App – Oanda FxTrade, MT4

Oanda’s FxTrade has a great balance of features and is easy to use.

Powered by TradingView, the app is particularly useful for its charting tools, with 32 technical indicators, 11 drawing tools and 9 chart types. Opening a chart on the FxTrade app is as easy as clicking the graph icon at the bottom of the watchlist.

The interface is also highly customisable which includes notifications, charts and order sizes. You can even open a trade ticket window from within the charts, seamlessly.

Lastly, you can also use MT4 with Oanda, on Android or iOS devices.

Trading Accounts

The two account options you have are Spread-only and Core Pricing trading accounts.

Spread-only is their commission-free account with competitive spreads, starting at 0.6 pips for EUR/USD (for a Standard-like account). Their Core Pricing account has industry-standard commissions of $7 per round turn with a minimum spread starting at 0.1 pips.

Additionally, there are no funding costs and you can trade in units of 0.001 micro lots, for a unique advantage.

Web and Desktop Trading Platforms

OANDA offers two main web and desktop platform suites: the popular MetaTrader 4 (MT4) platform, and OANDA’s FxTrade trading platforms.

The broker’s in-house FxTrade trading platform suite is a good option for charting (powered by TradingView) with over 80 indicators and the ability to overlay multiple currency pairs within a single chart for comparison.

Switching between the web-based and desktop versions of FxTrade is also seamless given they are identical to each other.

For fans of trading automation, The Seer Trading Platform supports algorithmic trading system development, which can be accessed through Oanda’s Marketplace.

Additionally, OANDA supports a range of third-party platforms, largely charting-focused, such as TradingView, NinjaTrader, MultiCharts, and MotiveWave.

View Oanda Review >>Visit Oanda >>

AvaTrade Is A Fixed Spreads Trading Specialist

As a fixed-spread broker, AvaTrade has an advantage against other brokers, particularly in the volatile Forex market where the spreads are variable.

AvaTrade also has a good range of Forex and CFD trading platforms, which includes great copy trading options with solid mobile offerings.

Please note that fixed spreads aren’t always technically fixed due to market volatility and during certain time periods, particularly for non-forex products like shares. More often than not, however, spreads will be fixed.

Mobile App – AvaTradeGo, AvaOptions, MT4

AvaTradeGO and AvaOptions are two in-house trading platforms, available as apps with AvaTrade via the Google Play or Apple store.

AvaTradeGo stands out for its market trend and trading analysis tools, including a robust set of syncing watchlists and 93 charting indicators. There is also a unique volatility protection feature called AvaProtect™, a risk management tool designed to reduce your risk and even get your money back on losing trades.

AvaOptions is another unique offering from AvaTrade, being an options-specific platform allowing you to trade over 40 currency pairs with 14 default trading strategies available.

You can also access the full MetaTrader suite (MT4 and MT5) and AvaTrade’s own social networking platform, AvaSocial, on Android and iOS devices.

Trading Accounts

The only account you can open with AvaTrade is a Retail account.

This is their zero commission account, with spreads for Forex starting at 0.9 pips, slightly above the industry average for a Standard-like account.

Remember, these spreads are fixed or near fixed (AvaTrade can change them in extremely or unusually volatile situations) which explains why AvaTrade spreads are high than the typical standard account.

If you qualify as a professional trader, you can obtain more competitive spreads at 0.6 pips.

The minimum deposit is $100 to open an account with AvaTrade with no extra funding costs.

AvaTrade’s fixed spreads are some of the best in the industry as shown below in the module. They are even comparable to or better than some standard account spreads (as shown in the Pepperstone section.)

Fixed Account Spreads	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD	EUR/USD AUD/USD EUR/GBP GBP/USD USD/JPY AUD/JPY EUR/JPY USD/CAD
	0.90	1.10	1.50	1.50	1.00
	0.60	0.80	1.50	1.40	1.00
	0.70	1.20	1.50	1.30	1.00
	1.79	2.43	1.97	2.09	1.85
	1.60	1.90	1.70	2.10	1.60
	3.00	3.00	3.00	3.00	3.00

Data taken from broker website. Accurate as at 01/07/2022

Desktop and Web Trading Platforms

AvaTrade has a great range and variety of trading platforms. This includes their two proprietary platforms (AvaTrade WebTrader and AvaOptions), the full MetaTrader suite and the popular social trading platforms, ZuluTrade, and DupliTrade (accessible via WebTrader).

The WebTrader platform has a well-designed, responsive layout as well as a suite of trading tools from Trading Central directly integrated within the platform.

Both AvaTrade Go and the Webtrader platform also offer AvaProtect for extra risk coverage.

View AvaTrade Review >>Visit AvaTrade >>

CMC Markets Is A Good Choice For Beginners

CMC Markets is a great broker for beginners, delivering a user-friendly, award-winning app, their Next Generation platform, with multiple additional trading tools and features.

You can trade a massive range of over 12,000 tradeable instruments on their Next Generation platform, coupled with advanced tools, comprehensive market research, and an excellent mobile app.

CMC Markets also has competitive trading costs, particularly for active traders with good discounts on offer (for Professional clients only).

Mobile App – CMC Markets Next Generation

CMC Markets’ Next Generation app is cleanly designed, with multiple research tools, powerful charts, predefined watchlists, integrated news and educational content.

These mobile optimised charts come with 35 technical indicators and 15 drawing tools. Best of all, you can trade directly through the charts.

You can also customise your dashboard by repositioning, resizing and removing tiles to get your prefered layout. One handy feature is the ‘Client sentiment tracker’, allowing you to see what others in the market are trading.

The CMC Markets app also has a guaranteed stop-loss option to protect you against trading losses due to market volatility.

CMC Markets’ Invest app is also available in Australia for exchange-traded equities.

Trading Accounts

CMC Markets offers one trading account: a CFD account. Don’t let the name fool you, you can still trade Forex products on this account, not only CFDs.

The CFD account is commission-free with consistently low spreads across the board. Their minimum spread for the EUR/USD starts at 0.7 pips.

The only commissions you pay are for Shares CFDs (from $7), so the spread is the main cost factor for most markets.

Forex rebates are also available to Pro clients for active traders should you surpass $25 million in notional trading volumes.

Other trading costs you need to be aware of include market data fees, holding costs, guaranteed stop-loss charges (should you use them) and a monthly inactivity fee. This can all be found on the broker’s website.

Desktop and Web Trading Platforms

CMC Markets offers their Next Generation Platform, as well as MetaTrader 4 as a trading platform alternative.

The broker’s proprietary platform focuses on speed and usability and is packed with tools and features, particularly on the charting front.

Charting tools include 80 technical indicators and studies, 40 drawing tools, and 73 easily attachable candlestick and chart patterns.

As another trading platform option, MetaTrader 4, has two great plugins to add value: FXBlue and Autochartist.

FXBlue allows you to analyse and publish your trading results for better feedback while Autochartist is another handy charting software where you can identify chart patterns, perfect for technical analysis.

View CMC Markets Review >>Visit CMC Markets >>

IG Markets Has A Wide Range of Markets

IG Markets is well-renowned as offering one of the widest range of markets across the industry, with over 17,000 tradeable instruments available, making it the ultimate forex broker.

These financial instruments extend across just about every asset class, including 100 forex pairs, a whopping 13,000 shares and options as well as indices, futures, spot trading, bonds and even interest rate products.

This massive product range can be traded on IG Markets’ excellent mobile app, IG Trading (also known as IG Forex) which has a clean design and high ease-of-use factor, with features such as alerts, highly advanced charts and sentiment readings.

Mobile Apps – IG Trading Platform, MT4

IG offers two mobile apps: the popular MetaTrader 4 (MT4) app, alongside its own flagship mobile app, IG Trading, which competes with the best in the industry. There is also the IG Academy app for education and IG Access for account security, both of which don’t allow trading.

IG Trading is where to start though, which balances depth of features with ease of use that is aimed both at casual and advanced traders.

The app has a particularly great charting layout and features, with 30 technical indicators, 20 drawing tools and 16 selectable time frames.

The research consists of news headlines from Reuters, signals from Autochartist, and PIA First, for further trading analysis.

You can also trade greater a greater range of forex and stocks using Direct Markets Access which gives you visibility of the order books at the exchanges.

Trading Accounts

There is one main trading account on offer: a CFD account (like CMC Markets) in addition to a DMA (Direct Market Access) account for professional clients or high-volume traders.

There are no commissions for trading Forex with the CFD account and the minimum spread for EUR/USD starts at 0.6 pips, a competitive offering. For shares traders, you will, however, pay commissions of 0.1% for share CFDs.

Paying in USD gives you the added bonus of no minimum deposit, otherwise, it is $450 for credit/debit card and PayPal.

High-volume traders can access DMA (Direct Market Access) pricing through Forex Direct, as long as they meet monthly FX volume requirements. The benefit here is you will obtain lower average minimum spreads, starting at 0.1 pips.

Desktop and Web Trading Platforms

IG has an excellent selection of trading platforms and tools, with functionality that will satisfy traders of all experience levels.

The broker’s proprietary app is available as a web-based platform and on tablets, while MT4 also has web and desktop functionality. In addition, there are two specialist platforms: L2 Dealer and ProRealTime.

The L2 Dealer platform is available through the DMA account (for professional clients and active traders) so is therefore suited for advanced shares trading as it uses a tiered pricing system based on past monthly trading volume.

ProRealTime is a top charting software and trading platform, consisting of an electronic trading platform and technical analysis software used to analyse financial markets, particularly via charts.

View IG Markets Review >>Visit IG Markets >>