ACTUAL FOREX TRADING
BECOME A PROFITABLE FOREX TRADER
THE BEST FOREX BROKERS FOR AUSTRALIAN TRADERS
A List of the Top Australian Forex Brokers
"Traders in Australia have numerous available brokers, including many not reputable and scam brokers.
My recommended brokers are the best in the industry. I personally trade with many of them"
My recommended Forex brokers are ranked by...
- Reliability
- Regulation
- Spread tightness
- Trading Platforms
- The range of markets offered
- My personal trading experience with them
Australian traders can open accounts with nearly all brokers, like UK and European traders. Because of this, it is vital to open an account with a genuine Forex broker that is well-regulated. The best financial regulators are:
The FCA - UK Regulator
The ASIC - Australia Regulator
The CFTC & NFA - US Regulators
High regulation does often mean low leverage, however. So, if having a highly leveraged account is essential, you may need to sacrifice some regulation for higher leverage. My list of recommended brokers also includes Forex brokers that offer high leverage.
As a retail trader in Australia, your only option to trade Forex is through CFDs. There is nothing wrong with this. I trade CFDs daily. The brokers below are the best Forex brokers and the best Forex CFD brokers. Many CFD brokers offer indices, metals, commodities, and stocks, as well as Forex.
THE LEADING BROKERS FOR RESIDENTS IN AUSTRALIA
FCA Regulated Brokers
#1 Darwinex
Office Headquarters
London, UK
Leverage
1:30 (FCA standard)
Trading Platforms
MetaTrader 4, MetaTrader 5
Platform Reliability
9/10
Markets
41 Forex Pairs
Indices, stocks, commodities, metals
Minimum Deposit
500
Payment Methods
Bank transfer, debit card, credit card, Skrill, UnionPay
Account Currencies
EUR, GBP, USD
Social Trading
No
Copy Trading
Yes (Darwins)
Trading Signals
No
Customer Service
9/10
Average Spreads
AUDUSD 0.6 pips
EURGBP 0.8 pips
EURUSD 0.4 pips
GBPUSD 0.8 pips
USDCAD 0.8 pips
USDCHF 0.9 pips
USDJPY 0.5 pips
AUS200 0.8 pips
SP500 0.5 pips
GOLD 0.18 pips
#2 IG Markets
Office Headquarters
London, UK
Leverage
1:30 (FCA standard)
Trading Platforms
MetaTrader 4, WebTrader, MobileTrader, ProRealTime
Platform Reliability
9/10
Markets
91 Forex Pairs
Indices, stocks, commodities, metals, options, ETFs
Minimum Deposit
250
Payment Methods
Bank transfer, debit card, credit card, PayPal
Account Currencies
AUD, EUR, GBP, USD
Social Trading
No
Copy Trading
No
Trading Signals
Yes
Customer Service
2/10
Average Spreads
AUDUSD 0.9 pips
EURGBP 1.5 pips
EURUSD 0.6 pips
GBPUSD 0.9 pips
USDCAD 2.1 pips
USDCHF 1.5 pips
USDJPY 0.7 pips
AUS200 3.0 pips
SP500 0.6 pips
GOLD 0.40 pips
#3 CMC Markets
Office Headquarters
London, UK
Leverage
1:30 (FCA standard)
Trading Platforms
MetaTrader 4, WebTrader, MobileTrader
Platform Reliability
8/10
Markets
330 Forex Pairs
Indices, stocks, commodities, metals, options, ETFs
Minimum Deposit
n/a
Payment Methods
Bank transfer, debit card, credit card, PayPal
Account Currencies
AUD, CAD, EUR, GBP, NZD, USD
Social Trading
Yes
Copy Trading
No
Trading Signals
Yes
Customer Service
6/10
Average Spreads
AUDUSD 0.7 pips
EURGBP 1.0 pip
EURUSD 0.6 pips
GBPUSD 1.0 pip
USDCAD 1.3 pips
USDCHF 1.2 pips
USDJPY 0.8 pips
AUS200 2.0 pips
SP500 0.6 pips
GOLD 0.25 pips
#4 eToro
Office Headquarters
Tel Aviv, Israel
Leverage
1:30 (FCA standard)
Trading Platforms
WebTrader, MobileTrader
Platform Reliability
9/10
Markets
52 Forex Pairs
Indices, stocks, commodities, metals, ETFs, Crypto
Minimum Deposit
10
Payment Methods
Bank transfer, debit card, credit card, PayPal, Neteller, Skrill, Rapid Transfer, Klarna, iDeal
Account Currencies
USD
Social Trading
Yes
Copy Trading
Yes
Trading Signals
No
Customer Service
2/10
Average Spreads
AUDUSD 0.9 pips
EURGBP 1.3 pips
EURUSD 1.0 pip
GBPUSD 1.9 pips
USDCAD 1.5 pips
USDCHF 1.6 pips
USDJPY 1.1 pips
AUS200 2.0 pips
SP500 0.7 pips
GOLD 0.45 pips
ASIC Regulated Brokers
#1 IC Markets
#2 Pepperstone
#3 IG Markets
#4 FP Markets
Office Headquarters
Sydney, Australia
Leverage
1:1 - 1:500
Trading Platforms
MetaTrader 4, cTrader
Platform Reliability
8/10
Markets
61 Forex Pairs
Indices, stocks, commodities, metals, Futures, ETFs, Bonds
Minimum Deposit
200
Payment Methods
Bank transfer, debit card, credit card, Skrill, UnionPay, Neteller, PayPal, FasaPay, Wire transfer
Account Currencies
AUD, CAD, EUR, GBP, NZD, USD
Social Trading
No
Copy Trading
No
Trading Signals
No
Customer Service
9/10
Average Spreads
AUDUSD 0.2 pips
EURGBP 0.3 pips
EURUSD 0.2 pips
GBPUSD 0.2 pips
USDCAD 0.3 pips
USDCHF 0.2 pips
USDJPY 0.1 pips
AUS200 1.2 pips
SP500 0.5 pips
GOLD 0.11 pips
Office Headquarters
Melbourne, Australia
Leverage
1:30 - 1:500
Trading Platforms
TradingView, MetaTrader 4, cTrader
Platform Reliability
9/10
Markets
60 Forex Pairs
Indices, stocks, commodities, metals, ETFs, Crypto
Minimum Deposit
n/a
Payment Methods
Bank transfer, debit card, credit card, PayPal
Account Currencies
AUD, CHF, EUR, GBP, USD
Social Trading
Yes
Copy Trading
No
Trading Signals
Yes
Customer Service
7/10
Average Spreads
AUDUSD 0.3 pips
EURGBP 0.4 pips
EURUSD 0.1 pips
GBPUSD 0.6 pips
USDCAD 0.6 pips
USDCHF 0.5 pips
USDJPY 0.6 pips
AUS200 1.0 pips
SP500 0.5 pips
GOLD 0.20 pips
Office Headquarters
London, UK
Leverage
1:30
Trading Platforms
MetaTrader 4, WebTrader, MobileTrader, ProRealTime
Platform Reliability
9/10
Markets
91 Forex Pairs
Indices, stocks, commodities, metals, options, ETFs
Minimum Deposit
250
Payment Methods
Bank transfer, debit card, credit card, PayPal
Account Currencies
AUD, EUR, GBP, USD
Social Trading
No
Copy Trading
No
Trading Signals
Yes
Customer Service
2/10
Average Spreads
AUDUSD 0.9 pips
EURGBP 1.5 pips
EURUSD 0.6 pips
GBPUSD 0.9 pips
USDCAD 2.1 pips
USDCHF 1.5 pips
USDJPY 0.7 pips
AUS200 3.0 pips
SP500 0.6 pips
GOLD 0.40 pips
Office Headquarters
St Vincent and Grenadines
Leverage
1:30 - 1:500
Trading Platforms
MetaTrader 4, MetaTrader 5, cTrader
Platform Reliability
7/10
Markets
70 Forex Pairs
Indices, stocks, commodities, metals, ETFs, Crypto, Bonds
Minimum Deposit
100
Payment Methods
Bank transfer, debit card, credit card, PayPal, Neteller, Skrill, BPay, Poli Pay
Account Currencies
AUD, CAD, CHF, EUR, GBP, USD
Social Trading
Yes
Copy Trading
Yes
Trading Signals
Yes
Customer Service
4/10
Average Spreads
AUDUSD 0.2 pips
EURGBP 0.2 pips
EURUSD 0.1 pip
GBPUSD 0.3 pips
USDCAD 0.3 pips
USDCHF 0.5 pips
USDJPY 0.2 pips
AUS200 1.7 pips
SP500 0.5 pips
GOLD 0.08 pips
High Leverage Broker
Opening a 1:500 high-leverage account with IC Markets is possible for traders in Australia. You must opt for FSA (Seychelles) regulation rather than ASIC. I have had a highly leveraged IC Markets account for years and never had any issues.
You can open a high-leveraged trading account here.