Top Forex Brokers in Australia

Advertiser Disclosure

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.

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image Top Rated

Min. Deposit

$100


Bonus

Deposit $500 and trade with $1000!


Trading Platform

MetaTrader 4, MetaTrader 5, Web-based, IRESS


Max. Leverage

1:500


Regulation

ASIC

ECN trading with leverage up to 1:500

Min. Deposit

$100


Bonus

Up To $5000


Trading Platform

MetaTrader 4, Proprietary platform, Web-based


Max. Leverage

1:400


Regulation

MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC

Highly regulated, choice of fixed or floating spreads

Min. Deposit

$100


Bonus

None


Trading Platform

Proprietary platform


Max. Leverage

1:30


Regulation

CySEC, Financial Conduct Authority (FCA), ASIC

Wide range of CFDs + trailing stop losses

Min. Deposit

$5


Bonus

50%


Trading Platform

MetaTrader 4, MetaTrader 5, Web-based, Other


Max. Leverage

N/A


Regulation

FSC

Hybrid execution model + scalping, hedging and more trading options

Min. Deposit

$200


Bonus

None


Trading Platform

MetaTrader 4, MetaTrader 5, cTrader


Max. Leverage

1:200


Regulation

ASIC

Great ECN execution on MT4 platform

Other brokers

Excellent educational offerings

Best broker for social traders and crypto traders : 75% of retail CFD accounts lose money

No dealing desk execution + wide range of trading apps

35,000+ instruments within an award winning platform. Industry-leading prices

10

600+ Instruments, 30% Welcome Bonus, 0% Commissions

Choosing the Best Australian Forex Brokers

No Forex broker may do business from Australia unless they are regulated by ASIC . So, the first task in doing your due diligence on any Forex broker in Australia is to check that they are regulated by ASIC. You should do this by checking the home page of the broker’s website, which by Australian law must publish the details of their ASIC registration, including the registry number. Take a note of the number and go to ASIC’s search page. Here, you can search for free to confirm the broker is indeed regulated by ASIC. If you are prepared to pay a small fee, you can also perform a paid search for more detailed information about the broker’s business.

The second priority should be to check how long the broker has been in business. Forex brokers.The longer a broker has been operating, the better . This is not always a hard and fast rule, but it is certainly worth considering.

Your third job is to see whether the fees are competitive. The best thing here which can be checked quickly is what the typical spreads are on major currency pairs such as the EUR/USD. This information is not always easy to find, because demo accounts often do not show realistic spread quotes. Most good brokers will say on their site what their typical spreads are, and the truly good ones back it up with some detail. This information is at least party reliable, as ASIC wouldn’t like a claim which is obviously inaccurate. Finally, check elements like the quality of customer support, and the choice of trading platforms offered. By running through this checklist, you should end up with a shortlist of brokers that offer you a good quality of service.