Forex Broker Australia | Best Forex Brokers for Australian Traders October 2022

Are you looking for the best Forex brokers in Australia that will ensure your trading funds are safe and you are trading with a broker that has strong regulation?

You are in the right place!

In this post we go through the best brokers for Australian traders that are regulated by ASIC.

These brokers all have different features and you will be able to find a broker to suit you depending on whether you need a Metatrader broker, a broker with a small minimum deposit or a broker that has top of the line customer support.

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Use our side-by-side comparison table to compare Forex broker accounts, spreads and fees.

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8cap

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Rating

4.5

Mobile App

10/10

Regulation

CFTCNFA

CYSECASICCBFSAIBVIFSCFSCAFSAFFAJADGMFRSA

Bill

Min.Deposit

$250

$100

$200

$100

Leverage max

100

100:1

500

400

Forex pairs

Fees & spreads

EUR/GBP

N/A

1.5

N/A

EUR/USD

N/A

1.3

N/A

0.9

EUR/JPY

0.3

1.6

N/A

EUR/CHF

0.2

3.1

N/A

GBP/USD

N/A

1.9

N/A

GBP/JPY

0.1

3.6

N/A

GBP/CHF

0.3

4.2

N/A

USD/JPY

N/A

1.5

N/A

USD/CHF

0.2

2.0

N/A

CHF/JPY

0.3

N/A

EUR/RUB

N/A

USD/RUB

N/A

Additional Fee

Continuous Fee

Variables

N/A

Conversion Fee

Variablespips

1.3pips

N/A

Trading platforms

Demo

Webtrader

Copytrading

Mt4

STP/DMA

Ctrader

MT5

Avasocial

Ava Options

Leverage

FCA

CYSEC

ASIC

CFTC

NFA

BAFIN

CMA

SCB

DFSA

CBFSAI

BVIFSC

FSCA

FSA

FFAJ

ADGM

FRSA

Active

Forex

Indices

Actions

Cryptocurrencies

Raw Materials

Etfs

Additional characteristics

Islamic Account

Education & Webinars

Charts & Tools

Scalping

Spread Betting

Automated Trading

Free Forex Signals

Payment methods

Bank Transfer

Credit Card

Giropay

Neteller

Paypal

Sepa Transfer

Skrill

Sofort

Best Forex Brokers for Australian Traders

Plus500

Plus500	Regulation	Min Deposit	Platform	Open an Account
	ASIC, FCA + Others	$100	Plus500 Platform	Trade Now

Pros:

Easy to use trading platform.
Smaller minimum deposit.
Quick and easy to open an account.
Fast and helpful customer support.

Cons:

Some countries not accepted.
Educational resources not as great as others.

Plus500 is a market maker broker that offers their own trading platform that is very easy to use.

This broker offers trading on pretty much every market you could think of. If you cannot find what you are looking for on another broker, then Plus500 is probably for you. After signing up you get access to everything from Forex through to options and even ETF trading.

Plus500 offers large leverage, very small spreads and no commission trading making it a very good options for many different types of trading strategies.

Trade Now

Your capital is at risk.

IC Markets

IC Markets	Regulation	Min Deposit	Platform	Open an Account
	ASIC, CySec.	$200	MT4, MT5 and cTrader	Trade Now

Pros:

No withdrawal or deposit fees.
Low trading costs.
High leverage.

Cons:

No protection EU traders.
Live chat at times can be slow.

IC Markets is also an Australian based broker that is regulated by ASIC.

This broker has been around a long time and is now one of the biggest brokers in the world.

IC markets has a huge offering that caters to all types of traders. You have the ability to use any indicators or EA’s you like as well as use strategies like scalping.

You can use many different platforms such as MT4, MT5 and cTrader that are available on both desktop and mobile devices.

Trade Now

Your capital is at risk.

FXCM

FXCM	Regulation	Min Deposit	Platform	Open an Account
	FCA, ASIC + others.	$300	Trading Station, MT4 and NinjaTrader	Trade Now

Pros:

Very good education available.
Easy to quickly open an account.
Multiple account types available.
Low spreads.

Cons:

Not as many markets as others.
Higher minimum deposit.

FXCM is a leading global broker that has been offering it’s services since 1999.

FXCM has a huge range of trading services that include foreign exchange (FX) trading, CFD trading and spread betting. With FXCM you have access to multiple trading platforms, tools and premium resources to help you gain an edge over the markets.

One of the reasons so many choose to trade with FXCM is because of their extensive range of markets you can trade. You get access to everything from Forex, shares, cryptocurrencies, commodities and indices.

Trade Now

Your capital is at risk.

Pepperstone

	Regulation	Min Deposit	Platform	Open an Account
	ASIC, FCA + Others	$200	MT4, MT5 and cTrader	Trade Now

Pros:

It is regulated by ASIC and FCA.
Offers various trading platforms.
Low FX, equity, and indices fees.
Excellent customer service.
Free deposit and withdrawal.

Cons:

No investor protection for non-EU traders.
No fundamental data analysis.

Pepperstone is an Australian based broker and is widely regarded as one of the best Forex brokers in the world.

With Pepperstone you have the ability to trade on Forex, gold, indices, equities, and more. One of the biggest benefits to Pepperstone is the availability of not just MT5, but also other different trading platforms. You can choose any of the MT4, MT5, and cTrader that come on desktop, mobile and web trading.

Pepperstone offer very comprehensive education and analysis that ranges from market news, analysis, an economic calendar, guides, webinars, and more.

Another large benefit to Pepperstone is their small trading costs. Pepperstone offer very small spreads and charge low commissions per round trade.

Trade Now

Your capital is at risk.

Is Forex Trading Legal in Australia?

Yes, Forex trading is legal in the Australia.

To guarantee your funds protection you should make sure you are trading with an Australian regulated broker.

The regulator in Australia is ASIC and they are an independent commission of the Australian Government that are given the job as the national corporate regulator. ASIC’s role is to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors.

Trading in Australia with an ASIC regulated broker will ensure your funds are safe and you are with a reputable broker.

How to Start Trading in the Australia?

To start trading legally in Australia you should find a broker that is tightly regulated in Australia by ASIC to ensure your funds are safely protected.

As we go through in our list above, the best five brokers that are regulated by ASIC and you can start trading with today are;

#1: Plus500

#2: FXCM

#3: IC Markets

#4: Pepperstone

What to Look for in a Australian Forex Broker

Correct Regulation

When looking to deposit and trade with a Forex broker it is incredibly important you make sure that the broker is strongly regulated. This will make sure you are getting the best trading conditions and your funds are safe. This will also ensure that if anything does go wrong with your broker that there is a complaint procedure in place to solve any issues.

Protection of Funds

If you are trading with a broker that either has no regulation or very thin regulation, then you funds are at risk.

The world’s strongest regulators make brokers segregate client funds. This basically means that your funds are not pooled with the brokers. If anything happens to the broker, then your funds are not going to be at risk.

Negative Balance Protection

Negative balance protection can be incredibly important. In years gone past we have seen some huge market crashes and flashes. This has caused traders accounts to go well below what they first deposited and the broker coming after them for the extra money they have lost.

Having a broker with negative balance protection means that you cannot ever lose more than what you deposit.

How to Check if Australian Broker is Regulated

If you want to see if a broker is regulated in Australia, then you can check the ASIC register at their website here.

This register will help you make sure that the broker you want to trade with is in fact regulated and correctly registered with ASIC.

FAQ’s

Is Forex trading legal in Australia?

Yes, Forex trading is legal in the Australia. To guarantee your funds protection you should make sure you are trading with an Australian regulated broker.

How do I check if Forex broker is regulated in Australia?

If you want to see if a broker is regulated in Australia, then you can check the ASIC register at their website here; https://asic.gov.au/online-services/search-asics-registers/

How do I start trading in the Australia?

To start trading legally in Australia you should find a broker that is tightly regulated in Australia by ASIC to ensure your funds are safely protected.

Best Forex Brokers for Australian Traders 2022

Compare Forex Brokers Fees:

8cap

Forex.com

VantageFX

AvaTrade