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

9.7/10
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FXTM $5 Sign Up - 20% MetaTrader 4, MetaTrader 5, Sirix 1:1000 CySEC, IFSC

9.6/10
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City Index $100 None MetaTrader 4, ATpro platforms, Advantage Web 1:200 ASIC, FCA, MAS

9.5/10
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4 FXCM $50 ?
Standard: $2000, Mini: $50
None MetaTrader 4, Proprietary platform, Web-based 1:50 ASIC, FCA

9.4/10
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5 Pepperstone $200 None MetaTrader 4, MetaTrader 5, cTrader 1:200 ASIC

9.3/10
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6 eToro $200 None Web-based, Other 1:400 MiFID, ASIC, CySEC, FCA

9.2/10
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Australian Forex Brokers

AvaTrade

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
FXTM

FXTM or Forex Time, founded in 2012, is still considered a newcomer to the online Forex trading scene. However, within a span of two short years, this broker has managed to carve out a name for itself by wining several industry awards such as “Best Newcomer 2013” and “Fastest Growing Forex Broker.” FXTM is headquartered in Cyprus and is regulated by IFSC of Belize as well as FSB.

FXTM Review
City Index

As one of the oldest and most established Forex and CFD brokers in the world, City Index has grown to be one of the world leaders in spread betting and CFD trading. The company was established in the UK in 1983 and has been around for over 30 years, a timeframe that is practically unheard of in the industry. City Index has recently been acquired by GAIN Capital Holdings, Inc. a global leader in online trading, creating a retail business with over 235,000 funded accounts, $1.2 billion in customer assets and $3.1 trillion in annual trading volume. The company has offices in London, Dubai, Sydney, New Jersey, Shanghai, Tokyo, Hong Kong and Singapore which accommodates a staff of over 800 employees. City Index and transact over $400 billion in trade volume every month for individuals in over 50 countries worldwide. City Index is authorized and regulated by the UK’s Financial Conduct Authority (FCA).

City Index Review
FXCM

FXCM (Forex Capital Markets) was founded in 1999 in the U.S.A. and was an early pioneer of internet-based trading. FXCM was listed among the fastest growing companies by Inc. 500 List of America’s Fastest Growing Companies three years in a row. The FXCM Group has headquarters in New York, with offices around the globe in places such as the U.K., France, Italy, and Australia. It is regulated and licensed in each of them. FXCM is also a publicly traded company on the Nasdaq Exchange, the major U.S. exchange listing the equity of large technology-based companies.

FXCM Review
Pepperstone

Pepperstone, established in 2010, is an Australian-based ECN broker. It was founded in 2010 and is regulated by ASIC. Pepperstone is an ideal no desk broker that accommodates all trading styles. The broker’s website belies the exciting trading experience that lies within its trading platform. The company is based in Melbourne, Australia and has offices in Dallas, USA and Shanghai, China.

Pepperstone Review
eToro

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 Review