Top Forex Brokers in Australia

Though ASIC regulates dozens of Forex brokers in Australia, traders in the southern hemisphere needn’t look only within their borders for the best brokerage. In fact, some of the best Forex brokers in Australia may not be based in Australia at all!  Nevertheless, the benefits of choosing an Australian Forex broker should not be overlooked. Specifically, Australian Forex brokers may provide market updates during the Asian trading session, stronger customer support availability during local trading hours and a connection with local banks. We’ve compiled a list of the top Australian Forex brokers based on reliability, professionalism, responsiveness and, of course, trading conditions, to help you find the best Australian Forex broker for your specific needs.

Australians aren't the only ones who think their currency is valuable.  In fact, the Australian dollar (AUD) is one of the major currencies and is included in many different pairs (think AUD/USD, AUD/CAD, EUR/AUD, for example).  If you live down under, however, you may feel more comfortable trading your own currency over others.  For this reason alone, it's a good idea to look for Forex brokers in Australia that offer the best spreads and execution for AUD pairs and crosses.

One important thing to consider is that Australian regulated brokers are able to offer up to 1:500 leverage while those regulated in other regions may be required to limit their leverage in order to protect trader funds.  (Of course, non-regulated brokers that accept Australian clients may offer even higher leverage, but we don’t recommend trading with non-regulated brokers or risking too much on a single position).

Regulated Australian Forex Brokers

Regulation for Australian Forex brokers is provided by ASIC, the Australia Securities and Investments Commission.  By investing the time and energy in obtaining this type of regulation Australian Forex brokers are indicating that they're invested in protecting the security of their clients' funds and that they aren't a fly-by-night brokerage that will take your money and close.  Of course, brokers regulated in other regions have demonstrated similar willingness.  The biggest difference, however, is that if you're based in Australia and you worry about ever having to make a claim against your Forex broker, you may want to do so to a regulatory body that is in your area.  It is also worth noting that some brokers have ASIC regulation as well as regulation in other regions, indicating a global reach and a commitment to trustworthiness.

Consider trying out a few of our top rated Australian Forex brokers by opening a demo account and testing the trading conditions for yourself.  You may be surprised to find that there are different advantages and disadvantages to each broker.  Check out the broker list below to get started.

Broker's Name Minimum Deposit Deposit Bonus Type of Platform Maximum Leverage Regulation Rating More Info
Trade.com $100 Up to $2000 MetaTrader 4, Proprietary platform 1:200 CySEC

9.7/10
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eToro $50 Up To $1000 Web-based, Other 1:400 CySEC, MiFID, CFTC, FCA, NFA, ASIC

9.6/10
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FXCM $50 ?
Standard: $2000, Mini: $50
None MetaTrader 4, Proprietary platform, Web-based 1:50 FCA, NFA, ASIC Accepts US clients
Accepts US clients

9.5/10
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4 AvaTrade $100 Up To $5000 MetaTrader 4, Proprietary platform, Web-based 1:400 MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC

9.4/10
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5 Markets $100 None MetaTrader 4, Proprietary platform 1:200 CySEC, FSB

9.0/10
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6 FxPro $500 None MetaTrader 4, MetaTrader 5, cTrader, Web-based 1:500 CySEC, MiFID, FCA

8.9/10
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Australian Forex Brokers

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Trade.com is a Forex and CFD broker that provides trading solutions to a global clientele. Trade.com is operated by LeadCapital Markets, an investment company authorized and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) under license number 227/14. It is also under the Markets in Financial Instruments Directive (MiFID), and is registered with licensing bodies throughout the EEA.

Trade.com Review
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eToro, founded in 2007 and domiciled in Limassol, Cyprus, is a leading social site on the global scene with 5,000,000 traders. It is regulated by NFA, CySEC, ASIC, CFTC, MiFID, FCA and has been the recipient of several awards. eToro is certainly one of the best choices for anyone looking for more interaction with other currency traders and who are interested in studying how other people invest. The social trading platform provides a good testing ground for beginners and allows professional level trading for experienced investors.

eToro Review
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FXCM Holdings, LLC has been listed as one of the fastest growing companies by Inc. 500 List of America’s Fastest Growing Companies three years in a row (2004-2006). FXCM Holdings, LLC is headquartered in New York, with offices around the world including U.K., Japan, Hong Kong, France, Italy, and Australia, and is regulated and licensed in each of them. FXCM has over 165,000 tradable accounts on its platforms and a monthly average of over $250 billion in trade volume. See review of FXCM at DailyForex.com.

FXCM Review
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AvaTrade is among the top Forex brokers in the world with offices in New York, Dublin, Sydney, Milan, Tokyo and other locations. It is regulated by the Central Bank of Ireland and licensed by MiFID in the European Union as well as by several other licensing bodies. AvaTrade’s features include, among other things, a choice of platforms, a demo account, an Ava debit card for all live account holders, access to Trading Central charting tools for depositors of over $1000 and free withdrawals.

AvaTrade Review
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Markets.com is operated by Safecap Investments Limited, a Financial Services Company authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 092/08 and by the Financial Services Board (FSB) in South Africa as an authorized Financial Services Provider under the no. 43906. Markets.com was the recipient of the London Investor Show Forex “Best Customer Service 2012” award, and the Global Banking & Finance Review “Best Broker in Customer Service Europe 2012” award, in addition to numerous other awards over the past years.

Markets Review
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FxPro
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FxPro is a full-service company that caters to both experienced and beginner traders. Founded in 2007, FxPro has established itself as one of the leading Forex brokers in the industry. Despite its small size, it offers the same features and services as larger trading companies and even more including a wide range of options and a landing page that is chock full of useful information. Navigation throughout the site moves along at a rapid clip and opening either a real or demo account is quick and easy.

FxPro Review