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:
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The FCA - UK Regulator
The ASIC - Australia Regulator
The CFTC & NFA - US Regulators
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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.
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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
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Leverage
1:30 (FCA standard)
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Trading Platforms
MetaTrader 4, MetaTrader 5
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Platform Reliability
9/10
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Markets
41 Forex Pairs
Indices, stocks, commodities, metals
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Minimum Deposit
500
Payment Methods
Bank transfer, debit card, credit card, Skrill, UnionPay
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Account Currencies
EUR, GBP, USD
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Social Trading
No
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Copy Trading
Yes (Darwins)
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Trading Signals
No
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Customer Service
9/10
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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
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#2 IG Markets
Office Headquarters
London, UK
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Leverage
1:30 (FCA standard)
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Trading Platforms
MetaTrader 4, WebTrader, MobileTrader, ProRealTime
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Platform Reliability
9/10
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Markets
91 Forex Pairs
Indices, stocks, commodities, metals, options, ETFs
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Minimum Deposit
250
Payment Methods
Bank transfer, debit card, credit card, PayPal
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Account Currencies
AUD, EUR, GBP, USD
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Social Trading
No
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Copy Trading
No
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Trading Signals
Yes
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Customer Service
2/10
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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
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#3 CMC Markets
Office Headquarters
London, UK
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Leverage
1:30 (FCA standard)
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Trading Platforms
MetaTrader 4, WebTrader, MobileTrader
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Platform Reliability
8/10
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Markets
330 Forex Pairs
Indices, stocks, commodities, metals, options, ETFs
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Minimum Deposit
n/a
Payment Methods
Bank transfer, debit card, credit card, PayPal
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Account Currencies
AUD, CAD, EUR, GBP, NZD, USD
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Social Trading
Yes
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Copy Trading
No
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Trading Signals
Yes
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Customer Service
6/10
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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
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#4 eToro
Office Headquarters
Tel Aviv, Israel
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Leverage
1:30 (FCA standard)
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Trading Platforms
WebTrader, MobileTrader
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Platform Reliability
9/10
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Markets
52 Forex Pairs
Indices, stocks, commodities, metals, ETFs, Crypto
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Minimum Deposit
10
Payment Methods
Bank transfer, debit card, credit card, PayPal, Neteller, Skrill, Rapid Transfer, Klarna, iDeal
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Account Currencies
USD
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Social Trading
Yes
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Copy Trading
Yes
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Trading Signals
No​
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Customer Service
2/10
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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
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ASIC Regulated Brokers
#1 IC Markets
#2 Pepperstone
#3 IG Markets
#4 FP Markets
Office Headquarters
Sydney, Australia​
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Leverage
1:1 - 1:500
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Trading Platforms
MetaTrader 4, cTrader
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Platform Reliability
8/10
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Markets
61 Forex Pairs
Indices, stocks, commodities, metals, Futures, ETFs, Bonds
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Minimum Deposit
200
Payment Methods
Bank transfer, debit card, credit card, Skrill, UnionPay, Neteller, PayPal, FasaPay, Wire transfer
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Account Currencies
AUD, CAD, EUR, GBP, NZD, USD
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Social Trading
No
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Copy Trading
No
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Trading Signals
No
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Customer Service
9/10
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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
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Office Headquarters
Melbourne, Australia
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Leverage
1:30 - 1:500
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Trading Platforms
TradingView, MetaTrader 4, cTrader
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Platform Reliability
9/10
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Markets
60 Forex Pairs
Indices, stocks, commodities, metals, ETFs, Crypto
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Minimum Deposit
n/a
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Payment Methods
Bank transfer, debit card, credit card, PayPal
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Account Currencies
AUD, CHF, EUR, GBP, USD
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Social Trading
Yes
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Copy Trading
No
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Trading Signals
Yes
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Customer Service
7/10
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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
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Office Headquarters
London, UK
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Leverage
1:30
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Trading Platforms
MetaTrader 4, WebTrader, MobileTrader, ProRealTime
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Platform Reliability
9/10
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Markets
91 Forex Pairs
Indices, stocks, commodities, metals, options, ETFs
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Minimum Deposit
250
Payment Methods
Bank transfer, debit card, credit card, PayPal
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Account Currencies
AUD, EUR, GBP, USD
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Social Trading
No
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Copy Trading
No
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Trading Signals
Yes
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Customer Service
2/10
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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
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Office Headquarters
St Vincent and Grenadines​
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Leverage
1:30 - 1:500
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Trading Platforms
MetaTrader 4, MetaTrader 5, cTrader
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Platform Reliability
7/10
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Markets
70 Forex Pairs
Indices, stocks, commodities, metals, ETFs, Crypto, Bonds
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Minimum Deposit
100
Payment Methods
Bank transfer, debit card, credit card, PayPal, Neteller, Skrill, BPay, Poli Pay
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Account Currencies
AUD, CAD, CHF, EUR, GBP, USD
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Social Trading
Yes
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Copy Trading
Yes
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Trading Signals
Yes​
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Customer Service
4/10
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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
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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.
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You can open a high-leveraged trading account here.