10 Best Forex Brokers Australia [month,year] - Forex Trading Australia
Best Forex Brokers in Australia
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Affiliate DisclosureDailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.
Huzefa Hamid
Australia has become a top destination for international Forex/CFD brokers, and remains popular among domestic Australian Forex traders. See below our most valued Australian brokers:
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Well-trusted ASIC-regulated broker with tight spreads due to premium liquidity
MT4/MT5 trading platforms with Trading View & Capitalise AI for code-free algo trading.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Best ECN execution on the MT4 platform
Excellent implementation of cTrader and Smart Trader Tools
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Transparent New Zealand-based FinTech company and FMA-regulated broker
Excellent asset selection with competitive trading fees and no minimum deposit
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Algo trading in a code-free environment via Capitalise AI.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Choice of trading platforms and mobile apps & selection of copy trading services
ASIC-regulated broker with a broad-based asset selection & low trading fees
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Australian-headquartered Eightcap established itself as a top choice among Forex traders in Australia. Besides trusted regulatory oversight from the domestic ASIC, the AFCA, and a local presence, Australian Forex traders benefit from leading trading platforms and services. While Eightcap is required by law to restrict the maximum Forex retail leverage to 1:30, traders get the MT4/MT5 trading platforms with full support for copy and algorithmic trading. Negative balance protection and segregation of client deposits from corporate funds also exist.
Eightcap features popular domestic payment processors POLi and BPay, next to UnionPay and Skrill, and maintains one of the best Australian Forex trading infrastructures.
Pros
Low minimum deposit and high leverage of up to 1:500
Competitive cost structure
Excellent technology infrastructure and seasoned management team
Best all-around broker with high floating leverage and fast execution
We have made FXTM one of our top-rated brokers because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.
Pros
Excellent commission-based Forex pricing environment and transparency
Upgraded MT4/MT5 trading platforms plus proprietary mobile trading app
Quality market research and educational content for beginner traders
Proprietary copy trading platform, low minimum deposit, and high leverage
Cons
No cryptocurrencies and limited choice of
commodities
Pepperstone, regulated by ASIC, is one of the largest MT4 brokers globally. Besides MT4 and MT5, it maintains cTrader, giving Australian Forex traders access to a trading platform developed for the electronic communications network (ECN). With execution speeds of 30 milliseconds, automated traders and high-frequency operations will benefit enormously from the technological infrastructure. VPS hosting adds another essential tool for automated trading solutions. Pepperstone has no minimum deposit and grants maximum leverage of 1:500, but it does recommend a $500 portfolio.
Pros
Excellent choice of trading platforms consisting of MT4/MT5, and cTrader
Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
Social trading support via Myfxbook, MetaTrader Signals, and DupliTrade
ACY Securities upgrades MT4/MT5 with Capitalise AI and 15 quality plugins. Capitalise AI supports algorithmic trading in a code-free environment and is the most advanced trading tool available, making ACY Securities one of the best Forex brokers. Low-latency 24/5 market access exists via VPS hosting. Copy traders may use the embedded MT4/MT5 services or diversify via Signal Start and SoFinX.
The commission-based trading accounts offer competitive trading fees with raw spreads from 0.0 pips for a commission of $6.00 for ProZero and $5.00 for Bespoke. Traders also benefit from fast order execution under 30ms via 46 liquidity providers.
Pros
Large repository of daily analysis and educational content
Low spreads starting at 0 pips in the Spread Zero account
16 payment processors, including cryptocurrencies
Competitive trading fees in its commission-based accounts
Best ECN trading environment, with scalping and hedging
BlackBull Markets is a rare New Zealand broker, regulated by New Zealand Financial Market Authority (FMA) which is smaller than ASIC but equally valuable. In 2019, this broker was among one of the fastest-growing companies. The commission-free account features a minimum spread as low as 0.8 pips, while the commission-based alternative commences from 0.1 pips for a cost of $6 per round lot. BlackBull Markets additionally maintains a 0 pips institutional account with a negotiable cost structure.
Pros
ECN/NDD execution model with deep liquidity
Institution-grade pricing for retail traders via proprietary price aggregation
Highly regulated, choice of fixed or floating spreads
Aussie Forex online traders who desire trading platform choices from an ASIC-regulated entity will find a good match in AvaTrade. While the MT4/MT5 trading platforms remain the most demanded ones, this broker features its proprietary WebTrader for manual traders, AvaOptions is an options trading alternative, and AvaTraderGO caters to those in favor of trading from their mobile devices. DupliTrade supports social trading. The regulatory environment is excellent, and AVA Trade offers an outstanding asset selection across seven categories, granting cross-asset diversification.
Pros
High-quality educational offering via SharpTrader
Excellent choice of trading platforms catering to various trading needs
Broad asset selection and cross-asset diversification opportunities
Well-regulated and trusted broker with oversight from a central bank
FP Markets is one of the primary contenders for Best Forex Broker Australia as it offers an excellent selection of over 10,000 assets across three trading platforms plus an outstanding technology infrastructure. Regulation by the Australian Securities and Investments Commission (ASIC) ensures domestic and international traders have a secure trading environment to manage their portfolios. Besides the market leading MT4 trading platform, the MT5 platform is also available. FP Markets is also home to the best online trading platform in Australia with its Iress proprietary solution.
Pros
Choice of trading platforms and auxiliary trading tools
Very competitive cost structure and excellent asset selection
Low minimum deposit requirement and leverage of up to 1:500
Best broker for social traders and crypto traders : 74% of retail CFD accounts lose money
eToro was founded in the early days of the online retail Forex era, in 2007 – this broker occupies a unique space as the king of social and copy trading. eToro has a long track record and unique reputation to protect, although this image is more focused on its copy trading model than on any other individual feature, except maybe its special relationship with cryptocurrencies.eToro is regulated in Cyprus, the U.K., Australia, and the United States although its U.S. offering is firmly differentiated from its offering to the rest of the world. eToro is a leading cryptocurrencies CFD broker. Following its 2019 acquisition of Danish blockchain company Firmo and Belgian crypto portfolio tracker application Delta, it released its cryptocurrency wallet for mobile devices.CFD crypto is not available for users in the US and under FCA regulation.
eToro Pros & Cons
Pros
Active investment community ideal for social trading
Dedicated tools for social trading
Broad cryptocurrency selection
Expanding educational offering for beginner traders
Cons
Internal withdrawal fees
Low retail leverage and higher minimum deposits, but within a reasonable range
Plus500 was founded in 2008 and has its main offices located in Sydney, Australia. The sophisticated Plus500 trading platform is considered to be one of the best platforms for new forex traders to cut their teeth on. New traders can also enjoy useful features such as trailing stop losses, which help to closely control potential losses on falling trades, along with a free demo account, which gives you all of the features and tools of a live account, without the associated risks. Plsu500 traders can enjoy instant access to over 2000 instruments, which includes trade on movements in the price of forex, indices, shares, commodities, ETFs cryptocurrencies, and options.
Pros
Broad asset selection in equities and options
Free and unlimited demo account
Advanced free-of-charge analytical trading tools
Global and regulated fintech platform
Cons
Sub-standard trading platform without support for automated or social trading
Markets.com, part of UK-publicly listed and FTSE 250 constituent Playtech PLC, operates five subsidiaries regulated in the UK, Cyprus, Australia, South Africa, and the British Virgin Islands. Markets.com serves traders via Marketsx and investors through Marketsi. Besides its proprietary trading platform, Markets.com deploys the MT4 and MT5 trading platforms. Markets.com offers a relatively wide asset selection. Forex and crypto traders have a choice of 67 currency pairs and 25 cryptocurrency pairs. Equity traders get access to over 2,000 equity CFDs, 60 ETFs, and 40 index CFDs. Completing the selection are 28 commodities, 13 in-house created blends (in-house thematic portfolios), and 4 bonds.
Pros
Competitive commission-free Forex fees from 0.6 pips
Well-balanced choice of trading instruments with 2,200+ CFD Assets
Forex trading is 100% legal in Australia. The Australian Securities and Investments Commission (ASIC) regulates FX trading in Australia. All domestic brokers must obtain an Australian Financial Services License (AFSL) license, while Aussie Forex traders may also trade with international brokers. The Corporations Act 2001 outlines rules and regulations for Australian financial firms, including Forex brokers in Australia, to remain compliant with the law. It is also paramount for Australian Forex traders to report profits to the Australian Taxation Office (ATO), regardless of whether their portfolios are in Australia or offshore.
Here are some core trading aspects traders should seek from their Australian Forex broker:
Regulation - It will ensure that your capital is protected, and you sleep well at night. ASIC-regulated brokers are among the most trustworthy and transparent. All our Top Australian Forex Brokers offer are well-regulated.
Cost Structure - Make sure that you have access to competitive pricing. Active Forex traders should look for an ECN account with raw spreads and a competitive commission. 0 pips and a charge of up to $7 per round lot is acceptable. FP Markets, FXTM, Pepperstone, and BlackBull Markets fulfill this category.
Asset Selection - Diversification remains a core aspect of risk management. Make sure you have broad choices across multiple categories. FP Markets and AvaTrade grant excellent choices.
Trading Platforms - Most Forex brokers offer MT4, but make sure your broker grants add-ons or an excellent proprietary alternative. FP Markets and Pepperstone lead in this category, chased very closely by AVA Trade and FXTM.
Tips for Forex Trading in Australia
While many new Aussie Forex online enthusiasts focus on trading strategies and profits, compare Forex brokers, and try to find the Best Trading Platform Australia, they miss some of the most critical aspects for successful Forex trading. Below are a few tips for Forex trading in Australia to make sure that you have the proper non-broker trading conditions.
Trading Space - You must have a distinct trading space, even if you trade from home, as all retail traders do. Ensure it is quiet so that you can focus on trading, which is one of the most challenging mental activities you will encounter.
Avoid Distractions - Since Forex trading takes place online, there are countless distractions, primarily from social media. Avoid them when you trade. Learn to dedicate specific time slots per day for trading, and during those periods, invest your energy on nothing but trading. Otherwise, your results will reflect your distractions.
Breaks - One of the most ignored aspects of this time-consuming profession, even for retail trades, is the necessity to take breaks. Starring at screens will place your brain on autopilot, and you will be prone to miss alerts and trading signals.
Exercise and Diet - It may sound far-fetched, but exercise improves your mental strength, which you need when you trade Forex. A healthy diet adds to your overall well-being, can encourage you to exercise, and ultimately give you another edge.
Analyze and Visualize - Always analyze your trades, profits, and losses. There is constant room for improvement, even if you only squeeze out a few pips per trade. They add up and will make a significant difference. Visualize your trading strategy, your upcoming trading day, and how you will aim to become a better Forex trader.
Understanding the Australian Forex Market
Founded in July 1998, it is one of the most capable and trusted regulators globally, second only to the UK Financial Conduct Authority (FCA). Therefore, Australian regulated Forex brokers have emerged as some of the most sought-after brokers, offering the most competitive and secure trading environment available today.
The Forex market remains the most liquid financial market globally, and thousands of new traders open accounts daily. Over 1,500 Forex / CFD brokers globally are catering to the growing demand, with new ones setting up shop every month. Following regulatory changes in the E.U., affecting former broker hotspot Cyprus, Australia took the top spot due to its business-friendly environment allowing Forex brokers to expand their business while offering traders security. ASIC established itself as a trustworthy and proactive regulator, giving traders a peace of mind when trading with any of the regulated brokers. All ASIC-regulated brokers operate under the protection of the Act of Grace mechanism under section 65 of the Public Governance, Performance, and Accountability Act 2013, while traders enjoy the protection under the Scheme for Compensation for Detriment caused by Defective Administration (CDDA Scheme).
With many new traders entering the world of Forex daily, and popularity among Australian ones rising, we have examined the best Australian Forex brokers and created a Top list. Among them are the best Australian Forex brokers for beginners, where excellent educational tools await those traders with a sincere interest in becoming an Aussie Forex online master.
The Australian Forex market experienced a growth burst driven by regulatory changes enforced in the European Union in 2018. These changes rendered the E.U. uncompetitive, harming former safe-haven Cyprus. The transition is ongoing, but Australia is one benefactor of the slow exodus out of the EU by Forex brokers and traders alike. While Australia will soon receive competition from the U.K. following Brexit and a return to more market-friendly policies free of E.U. regulation, ASIC maintains a competitive environment for finance. Domestic trends show a continuous increase in demand, partially driven by the secure trading environment, low capital requirements, and high leverage.
FP Markets and Pepperstone remain two of the most trusted and recognized brokers globally, confirmation of the outstanding effort by the Australian regulator in promoting a platform for growth. Over the next decade, the Australian Forex market is forecast to capture a more substantial market share, with its close relationship and economic dependence on China, the largest Forex market globally, providing an invaluable catalyst. Forex trading Australia remains a high-growth sector to monitor, with exciting opportunities from its emerging FinTech industry transforming the market. The best Australian Forex brokers invest heavily in their technology infrastructure, providing a significant competitive edge to traders, eliminating slippage and requotes.
Australian Forex Market Regulation
Australian Forex market regulation remains the responsibility of the Australian Securities and Investments Commission (ASIC). It maintains one of the most competitive trading environments globally and is the sole Tier 1 regulator, where brokers offer a maximum leverage of 1:500 to all traders. Most regulators lowered it to 1:30 for retail traders, in an erroneous assumption that it would reduce trading losses. The absence of risk management is to blame for that, a concept which regulators tend to misunderstand. Therefore, ASIC-regulated brokers are well-positioned to take market share, particularly from E.U. counterparts, where CySEC-regulated entities operate with the distinct disadvantage of the European Securities and Markets Authority (ESMA).
While the size of the Australian Forex market is smaller than many of its counterparts, and the geographical location is distant from most regulatory jurisdictions, technology remains one of its most significant advantages. Australia adopts advancement swifter than other countries. Many Australian regulated Forex brokers deploy superior technology, FinTech advancements, and high-speed fiber-optic connections. Blockchain technology is also finding a home in Australia, which continues to attract global talent. The combination of all aspects drives domestic demand, while ASIC offers Australian brokers the right platform for international expansion.
ASIC Regulation
Technology is one of the most significant advantages of Australian Forex brokers, closely followed by ASIC regulation. The primary role of ASIC is the regulation of the financial market and the protection of Australian consumers, investors, and creditors. All domestic brokers must obtain a license, and capital requirements must be maintained, together with the segregation of client funds from corporate ones. While ASIC continues to face criticism for inefficiencies to protect consumers from complex financial institutions, it has done an excellent job with Forex brokers.
How Does a Regulated Market Benefit You?
Trading with a regulated Forex broker in a regulated market protects traders from malpractice, pricing manipulation, and other fraudulent activities. It also ensures the segregation of deposits from corporate accounts and that the broker does not use them for internal trading activities or other financial transactions. In case of inappropriate behavior by a broker, ASIC has the capabilities to enforce the law, impose fines, and revoke licenses. While scams still exist, trading in Australia, or as an international trader with an Australia Forex broker, offers one of the most secure trading environments available.
How to Verify Your Broker is ASIC Regulated?
Verification is a simple two-step process. First, locate the Australian Financial Services License (AFSL) license number, usually noted at the bottom of the homepage of each regulated Australian Forex broker. Next, compare the six-digit AFSL license number with the ASIC database to confirm you are dealing with a regulated entity.
How to Choose a Forex Broker (as an Aussie Trader)
With demand for Forex trading on the rise across Australia, it can be a daunting task to identify the Best Online Broker Australia. While there is not one that suits all traders, all competitive ones have several aspects in common. Below is a list of what an Aussie trader should look for to compare Forex brokers effectively before committing to one.
Spreads and Commissions - Any contender for Best Forex Broker Australia will maintain a low-cost trading environment. A commission-free account should keep the minimum spread below 1 pip, like BlackBull Markets and AvaTrade, and a commission-based version must offer raw ones between 0 and 0.1 pips with a cost of no more than $7 per round lot. FP Markets, FXTM, Pepperstone, and BlackBull Markets satisfy this requirement.
Trading Platforms - Traders should either seek the MT4/MT5 trading platform with upgrades, as provided by FP Markets, FXTM, and Pepperstone, or opt for a competitive proprietary alternative, where FP Markets is home to the Best Online Trading Platform Australia. An excellent charting package, in-depth analytic tools, a user-friendly interface, and no slippage or requotes must exist. Trading platforms may either come as a desktop client, a webtrader, or a mobile version.
International Offering - Many new to FX trading in Australia may want to focus on domestic assets like Australian Dollar quoted currency pairs and crosses or Australian equities listed on the ASX. It is essential to have a wide range of assets globally, to diversify portfolios, and reduce risk. FP Markets and AvaTrade excel in this category.
Spreads, Commissions, and Leverage - Leverage is one of the most beneficial tools for Forex traders if deployed accordingly and in conjunction with risk management. Forex brokers in Australia offer 1:500, which allows brokers and traders to operate with a significant competitive edge.
Account Types - A growing number of brokers offer only one account type with equal access to trading services, while others either implement superior services for more substantial deposits or different trading strategies. Traders should avoid brokers that discriminate by portfolio size. The sole acceptable distinction is between a commission-free and a commission-based account. All five on brokers on our list of Best Online Broker Australia provide equal access to the core trading environment.
Minimum Deposit - A low minimum deposit ensures accessibility to all traders, without the pressure for a significant capital commitment. It also allows traders to adequately build a portfolio through monthly deposits, a vital aspect for successful Forex traders. Pepperstone has no requirement, FXTM commences from just $10, and FP Markets and AVA Trade ask for $100. BlackBull Markets raises it to $200.
Trading Apps - Many focus only on a mobile app, where FXTM and AVA Trade offer a proprietary solution. Traders should look for trading apps that will benefit their trading, like Autochartist for manual trades, TipRanks for equity traders, or excellent upgrades to the MT4 trading platform delivered by Pepperstone and FP Markets. The quality of trading apps is relevant, not marketing or quantity.
Customer Service - Traders at well-managed Forex brokers will hardly require customer service, but it must be accessible in case of emergencies. Live chat is the most convenient format to receive support, with e-mail and phone available at all Forex brokers in Australia. 24/5 customer support is preferable, matching the operating hours of the Forex market.
Day Trading - Day trading is popular among the growing Aussie Forex Australia crowd. Fast execution speed, superior technology, and a commission-based account with raw spreads and low commissions will enhance the profitability of any day trading strategy. They are available at Pepperstone, FP Markets, FXTM, and BlackBull Markets.
Additional Services - With demand for Forex Trading Australia expanding, many Forex brokers offer auxiliary services to increase their market share. They may include free VPS hosting, trading signals, market commentary, loyalty programs, invitations to VIP events, bonuses, interest on free margin, and one-on-one trading consultations.
Tax on Forex Trading Australia
The Australian Tax Office (ATO) does not provide much clarity on the applicable tax, which differs on numerous criteria. An overly complicated tax code makes it challenging for any retail traders to understand the payable tax to the government, and it is best to consult a certified accountant. The primary distinction is between investors, buying and selling infrequently and not motivated by short-term profits, and traders, who aim to generate daily, weekly, and monthly income. There is a tax-free allowance, while the maximum applicable tax may reach as high as 45%. Crippling financial penalties exist for the wrong type of payment or absence of any. There are also tax discounts of up to 50% for investors, and traders can offset losses immediately while investors have to carry them forward. The complexity of the Australian tax code makes the use of a certified accountant the most efficient option. Software exists for those who prefer to attempt to navigate the unnecessarily complicated tax issue on their own.
Forex Trading in Melbourne
Melbourne is home to a well-diversified economy where finance, technology, and research play a dominant role. Five of the ten largest companies in Australia remain headquartered there, and Forex trading among Melburnians increases in popularity annually. The conditions for it, ranging from technology, through characteristics to interest, make Melbourne one of the hotspots for Australian Forex traders. Pepperstone operates out of Melbourne and deploys one of the most advanced technological infrastructures available today.
Forex Trading in Sydney
Sydney is the most populous city in Australia and Oceania. The location of the primary equity exchange ASX. Sydney ranks continuously among the Top 15 cities, highly integrated into the global economy. 48% of the Top 500 companies in Australia call Sydney their home, making it a perfect location for Forex traders. FP Markets, the operator of the Best Trading Platform Australia, has its global headquarters in Sydney, which offers the complete infrastructure for retail traders and professionals alike, comparable to what London or Tokyo has to offer.
Best Time to Trade Forex in Australia
This is a widely debated topic and ultimately depends on the trader and strategy. Many Australian Forex traders may prefer to trade during their daytime, making the Australian dollar, the New Zealand dollar, the Japanese yen, and the Chinese yuan the most desired currencies. The London open injects volatility and is considered by some as the most profitable time for short-term strategies. The New York start offers a smaller repetition of it. While debates over the best time to trade Forex in Australia are ongoing, on an individual basis, the best time is when a trader decides to execute their strategy, and not by what a consensus determines.
Methodology
We reviewed over 100 brokers based on eleven criteria. Each research consists of over 2,000 words and lasted more than ten hours. Over 100 brokers were reviewed in-depth and from a traders’ perspective, ignoring the marketing tactics deployed by some to confuse retail traders. Therefore, we sourced the list of our Top Australian Forex Brokers from more than 200,000 words of dedicated research compiled over 1,000 hours, ensuring the most comprehensive approach to identify the best Australian Forex brokers.
The eleven criteria used in our research consist of:
Regulation and Security
Trading Costs
Asset Selection
Account Types
Trading Platforms
Unique Features
Research and Education
Customer Support
Bonuses and Promotions
Account Opening Process
Deposits & Withdrawals
FAQs
What is the best Forex broker in Australia?
Depending on the preferences of Forex traders, FP Markets, FXTM, AVA Trade, Pepperstone, and BlackBull Markets rank among the best Australian Forex brokers.
Is Forex trading legal in Australia?
Yes, Forex trading is 100% legal in Australia and is regulated by the Australian Securities and Investments Commission (ASIC).
What is the best Forex broker for Australian beginner traders?
FXTM offers an excellent educational division for Australian beginner traders to consider. Pepperstone and FXTM have $0 and $10 minimum deposit requirements, respectively, making them ideal for portfolio building and training purposes in live accounts.
How to become a Forex trader in Australia?
All you need to do is settle for one Forex broker, with the five outlined in this article an excellent starting point, make a deposit, and you are ready to trade. New traders need to invest a considerable amount in education and learning how to trade in a live account with a small deposit before making a more significant commitment.
Is Forex trading taxable in Australia?
Yes, Forex trading is taxable in Australia. Regrettably, the Australian Taxation Office (ATO) provides little clarity, the tax code is very complicated, and the assistance of a certified accountant remains the most efficient solution for complying with Australian taxation.
Which broker has the highest leverage in Australia?
There are several Forex and CFD brokers in Australia offering the highest leverage allowable under Australian law. The leverage is currently capped at a maximum of 30:1 for Forex currency pairs and 20:1 on other CFDs.
Can I use MT4 in Australia?
Yes, you can easily use MT4 as this trading platform is offered by almost every Forex and CFD broker in Australia, just as it is in the rest of the world.
I’m a trader and manage my own capital. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. Today, I am also a Senior Analyst for DailyForex.com. I began trading the markets in the early 1990s, at the age of sixteen. I had a few hundred British pounds saved up (I grew up in England), with which I was able to open a small account with some help from my Dad. I started my trading journey by buying UK equities that I had read about in the business sections of newspapers. The 1990s were a bull market, so naturally, I made money. I was fortunate enough in my early twenties to have a friend that recommended a Technical Analysis course run by a British trader who emphasized raw chart analysis without indicators. Having this first-principles approach to charts influences how I trade to this day.
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