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:
- Eightcap, 1:500 maximum leverage and cutting-edge trading tools.
- BlackBull Markets, 1:500 maximum leverage with ultra-low trading fees and deep liquidity.
- Pepperstone, Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platform.
- Interactive Brokers, The biggest online trading platform in the USA.
- Plus500, The best pricing environment for futures traders in the USA.
- MultiBank Group, Deep liquidity with no trading restrictions.
- FXTM, Best all-around broker with high floating leverage and fast execution.
- AvaTrade, Highly regulated, choice of fixed or floating spreads.
- FP Markets, ECN trading with leverage up to 1:500.
Best Australian Brokers Comparison
| | | | | |
Regulators | ASIC, CySEC, FCA, SCB | FMA, FSA | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | ASIC, Central Bank of Ireland, CFTC, FCA, MAS, SEBI, SEC | ASIC, CySEC, EFSA, FCA, FMA, FSCA, MAS, SCA |
Year Established | 2009 | 2014 | 2010 | 1978 | 2008 |
Execution Type(s) | ECN/STP, Market Maker | ECN/STP, No Dealing Desk | No Dealing Desk, NDD | Market Maker | Market Maker |
Minimum Deposit | |||||
Average Trading Cost EUR/USD | 1.0 pips | 1.3 pips | 1.1 pips | Account and account-tier dependent | 1.3 pips |
Average Trading Cost GBP/USD | 1.2 pips | 2.0 pips | 1.4 pips | Account and account-tier dependent | 1.7 pips |
Average Trading Cost Gold | $0.12 | $0.90 | $0.15 | Account and account-tier dependent | - |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Trading View | MetaTrader 4, MetaTrader 5, cTrader, Trading View | Other, MetaTrader 4, MetaTrader 5, cTrader, Proprietary platform, Trading View+ | Proprietary platform | Proprietary platform, Web-based |
Islamic Account | |||||
Negative Balance Protection | N/A | ||||
| Visit Website | Visit Website | Get Started Visit Website75-95% of traders on margin lose | Visit Website | Get Started Visit Website82% of retail CFD accounts lose money |
Eightcap
In Summary 1:500 maximum leverage and cutting-edge trading toolsAustralian-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 & Cons
- Low minimum deposit and high leverage of up to 1:500
- Competitive cost structure
- Excellent technology infrastructure and seasoned management team
- Daily research and quality educational content
- Limited leverage in some areas
BlackBull Markets
In Summary 1:500 maximum leverage with ultra-low trading fees and deep liquidityBlackBull Markets is a rare New Zealand broker, alongside our Australian Forex brokers, that is 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.
The ECN/NDD trading environment, high leverage, and deep liquidity offered make it an obvious choice for scalpers and high-frequency traders, with the Active Trader Account an especially competitive account type.
Pros & Cons
- ECN/NDD execution model with deep liquidity
- Institution-grade pricing for retail traders via proprietary price aggregation
- ZuluTrade and Myfxbook for social trading
- Leverage of up to 1:500
- Limited deposit options
Pepperstone
In Summary Great ECN execution on MT4/5, cTader, TradingView and Pepperstone proprietary platformI rank Pepperstone among the best Australian Forex brokers as it features NDD order execution with an average execution speed of 30 milliseconds. The commission-based account offers raw spreads from 0.0 pips for a commission of $7.00 per 1.0 round lot, and the professional account includes a volume-based rebate program, while copy traders get several providers.
Traders receive a well-balanced asset selection of 1,500+ assets, including Forex, Forex indices, cryptocurrencies, and ETFs. The 28-plugin Smart Trader Tools package and Autochartist upgrade MT4.
Pros & Cons
- Excellent choice of trading platforms consisting of MT4/MT5, cTrader, TreadingView and Pepperstone Platform
- Market-leading MT4/MT5 upgrade package, Autochartist, and API trading
- Social trading support via Signal Start, MetaTrader Signals, Copy Trading by Pepperstone, DupliTrade
- Leverage of up to 1:400 depends on jurisdiction and superb trade execution
- Demo accounts have 60-day time limits
Interactive Brokers
In Summary The biggest online trading platform in the USAI rank Interactive Brokers among the best brokers in the USA, with 3.1M+ accounts and 2.7M+ daily average revenue trades. Interactive Brokers offers 150 markets in 34 countries in 28 currencies, ensuring ultra-deep diversification and trading opportunities. Traders receive a cutting-edge trading infrastructure and advanced platforms with highly competitive trading fees, placing Interactive Brokers among the cheapest brokers in the industry.
Clients can use IBKR BestXT, a powerful suite of advanced trading technologies ensuring the best execution and price improvement, and IBKR ForecastTrader, offering exchange-listed Forecast Contracts to trade your opinion on yes-or-no questions on political, economic, and climate events.
Pros & Cons
- Excellent asset selection
- Superb trading infrastructure
- Ultra-low trading fees
- Cutting-edge trading platform
- Limited payment processors
Plus500
In Summary The best pricing environment for futures traders in the USABeginners receive quality education via the Plus500 Trading Academy, and Plus500 offers a proprietary trading platform and mobile app featuring a sentiment-based indicator, the high-quality data-driven analytical tool +Insights, and real-time email, SMS, and push notifications based on price alerts and percentage-based hourly and daily price changes. Therefore, I rank Plus500 among the best CFD brokers in Australia.
Forex traders get spreads from 0.6 pips or $6.00 per 1.0 standard round lot, on par with competitive commission-based ECN/STP/NDD brokers. The asset selection includes the SPDR S&P/ASX 200 and SPDR S&P/ASX 50 ETFs, 67 Australian equity CFDs, cryptocurrencies, and options.
Pros & Cons
- Broad asset selection in equities and options
- Free and unlimited demo account
- Advanced free-of-charge analytical trading tools
- Global and regulated fintech platform
- Sub-standard trading platform without support for automated or social trading
MultiBank Group
In Summary Deep liquidity with no trading restrictionsMultiBank offers an excellent asset selection and has a growing presence in cryptocurrencies. Traders get 24/7 customer support and can pay the $50 minimum deposit via cryptocurrencies. I consider MultiBank among the best Forex brokers in Australia as it has a physical presence across Asian financial centers in Singapore, China, Hong Kong, the Philippines, and Malaysia, complies with ten regulators, and operates from more than twenty-five global offices.
Algorithmic traders can use MT4/MT5, traditional account managers get MAM/PAMM accounts and copy traders can diversify via the in-house MultiBank copy trading service. The volume-based cashback program lowers trading fees for active traders.
Pros & Cons
- 20,000 assets offering broad coverage of financial markets
- Raw spreads from 0 pips and maximum leverage of 1:500
- MAM/PAMM accounts and proprietary copy trading platform
- ECN trading with deep liquidity and no requotes
- Access to raw spreads requires a $5,000 minimum deposit on the ECN account
FXTM
In Summary Best all-around broker with high floating leverage and fast executionWe have made FXTM one of our top-rated Australian Forex brokers because in addition to its lengthy track record, it enjoys a very high level of regulation. It also has a stellar reputation, and it offers a highly competitive fee structure, which tends to keep down the cost of trading.
Traders get the core MT4/MT5 trading platforms, while FXTM also features its proprietary FXTM Trader mobile application. With 1,000+ assets, direct share investments, and in-house constructed thematic stock baskets, FXTM maintains a balanced asset selection, supplemented by quality education, research, and trading signals.
Pros & Cons
- 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
- A highly regulated broker with a tier-1 license
- Limited choice of commodities
AvaTrade
In Summary Highly regulated, choice of fixed or floating spreadsAussie 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 Australian Forex broker offers a proprietary WebTrader for manual traders. In addition, AvaOptions presents an options trading alternative, and AvaTraderGO caters to mobile traders, while DupliTrade supports social trading. The regulatory environment is excellent, and AVA Trade offers an outstanding asset selection across seven categories, granting cross-asset diversification.
AvaTrade’s well-balanced asset selection can ensure traders have access to the structural components of a competitive edge.
Pros & Cons
- High quality educational offering via AvaAcademy
- 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
- Trading costs competitive but nothing special
FP Markets
In Summary ECN trading with leverage up to 1:500FP 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 & Cons
- 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
- Well-regulated and trustworthy
- Availability of Iress geographically restricted
Is Forex Trading Legal in Australia?
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 platform, 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
Australia has taken the top spot in the Forex market due to its business-friendly environment allowing Forex brokers to expand their business while offering a high level of security. The Australian Securities and Investments (ASIC) established itself as a trustworthy and proactive regulator, providing peace of mind to traders. 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 protection under the Scheme for Compensation for Detriment caused by Defective Administration (CDDA Scheme).
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. less competitive, 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.
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.
We have also examined 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.
Australian Forex Market Regulation
Australian Forex market regulation remains the responsibility of the Australian Securities and Investments Commission. ASIC 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. 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 Australian Forex market is smaller than many of its counterparts, and it is geographically distant from most regulatory jurisdictions, technology remains one of its most significant advantages. Australian regulated Forex brokers tend to adopt innovations swifter than brokers in other countries, deploying FinTech advancements, and high-speed fiber-optic connections. Blockchain technology is also finding a home in Australia, which continues to attract global talent. This drives domestic demand, while ASIC offers Australian brokers the right platform for international expansion.
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 and corporate funds. While ASIC has faced criticism for inefficiencies in protecting 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 protects traders from malpractice, pricing manipulation, and other fraudulent activities. It also ensures the segregation of deposits from corporate accounts. In case of inappropriate broker behavior, ASIC can enforce the law, impose fines, and revoke licenses. While forex scams still exist, trading 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)
Below is a list of what an Aussie trader should look for to compare Forex brokers effectively.
- Spreads and Commissions - The best Forex broker in Australia will maintain low trading costs. A commission-free account should keep the minimum spread below 1 pip. The commission-based versions should provide raw spreads between 0 and 0.1 pips with a cost of no more than $7 per round lot.
- Trading Platforms - Traders should either seek the MT4/MT5 trading platform with upgrades or opt for a competitive proprietary alternative. An excellent charting package, in-depth analytic tools, a user-friendly interface, and no slippage or requotes should be part of any good platform.
- 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.
- Spreads, Commissions, and Leverage - Leverage is one of the most beneficial tools for Forex traders if deployed in conjunction with risk management. Forex brokers in Australia offer 1:500, allowing 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. 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 provide equal access to the core trading environment.
- Minimum Deposit - A low minimum deposit ensures accessibility to all traders. It also allows traders to adequately build a portfolio through recurring monthly deposits.
- Forex Trading Apps in Australia - Many focus only on a mobile app - FXTM and AVA Trade offer a proprietary solution. Traders should look for trading apps that will suit their needs, like Autochartist for manual trading, or TipRanks for equity trading.
- Customer Service - 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 - 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.
- Additional Services - Many Forex brokers offer auxiliary services to increase their market share, such as free VPS hosting, trading signals, market commentary, loyalty programs, invitations to VIP events, bonuses, interest on free margin, and one-on-one trading consultations.
- Regulation & Security - Traders should ensure their Forex broker has 10+ years of operational experience and a regulatory license from the ASIC or a competent offshore regulator with investor capital protection.
Trading with Australian Forex Brokers – Pros & Cons
Before funding an account with the best Australian Forex brokers, traders should consider the pros and cons.
The pros of Australian Forex brokers include the following:
- Trustworthy and capable regulator for ASIC-regulated brokers
- Competitive trading fees
- Cutting-edge trading infrastructure
- No restrictions on trading conditions
- Quality product and services portfolio
The cons of Australian Forex brokers include the following:
- Restrictive retail leverage
What should you consider regarding Forex broker’s fees?
Trading fees are the most defining aspect of a broker, as they directly impact profitability. They also reveal which strategies a broker actively supports and passively discourages.
Traders will face frequent trading fees and less frequent non-trading fees. Traders must understand the trading fees to know what they pay per trade and compare costs to other brokers to determine if their Forex broker offers a competitive cost structure.
Forex broker trading fees are:
- Spreads (the difference between the bid and the ask price)
- Commissions (commissions per trade)
- Swap rates (charged on leveraged overnight positions)
- Currency conversion fees (when the asset currency and account base currency differ)
Forex broker non-trading fees are:
- Deposit fees (internal fees that apply to some IFC Markets deposit methods)
- Withdrawal fees (internal fees that apply to IFC Markets withdrawal methods)
- Inactivity fees (IFC Markets does not charge inactivity fees)
- Currency conversion fees (when the deposit or withdrawal currency differs from the account base currency)
Noteworthy:
- Swap rates are the most ignored trading costs, which may become the most significant fee per trade, depending on the strategy
- Commission-based trading costs are usually significantly lower than commission-free alternatives
- High-volume and high-frequency traders should ensure their Forex broker has a volume-based rebate program
- The EUR/USD and most major currency pairs should have costs not exceeding $8.00 per 1.0 standard round lot
- Forex commissions should max out at $7.00 per 1.0 standard round lot for access to raw spreads
How to choose the most suitable Forex trading platform?
The trading platform choice depends on the preferences and requirements of traders, but the most competitive ones will share the below characteristics.
Forex traders should look for the following trading platform components:
- A clean user interface to ensure efficient trading operations
- Algorithmic trading support as 80%+ of daily Forex volumes are placed by algorithms
- API trading to connect advanced algorithmic trading solutions to the trading infrastructure of the broker
- An extensive charting package for traders who prefer manual analysis
- A fully customizable trading platform
- A detailed order ticket with all relevant trading information
- A choice of order types, including trailing stop-loss orders and pending orders
- Real-time price feeds, ideally with Level II pricing
- Customizable alerts and notifications to help traders manage portfolios
- The ability to hedge positions
- One-click trading for scalpers and news traders
- Multi-chart and multi-screen capability for advanced trading analysis
- An integrated economic calendar
- Integration with high-quality third-party trading services, including Capitalize AI for code-free algorithmic trading, Trading Central for actionable trading signals, and Autochartist for automated chart pattern recognition
- Support for copy trading services, including ZuluTrade, Myfxbook Autotrade, DupliTrade, and Signal Start
- Multi-account manager for traders who manage multiple trading accounts
- PAMM accounts for traders who prefer traditional account management services
Noteworthy:
The MT4/MT5 trading platforms tick all boxes, and traders can upgrade them via 25,000+ and 10,000+, respectively, custom indicators, EA, templates, and scripts
Not all traders will require all of the above, but a trading platform that features all confirms a competitive trading platform
How to choose the right Forex account type?
Some Forex brokers offer several account types, while others simplified their structure to one identical account type without improved trading conditions for higher deposits. Many Forex brokers with multiple account types offer more expensive commission-free accounts and cheaper commission-based alternatives. Therefore, Forex traders should carefully consider the account features and ensure they support their trading strategies.
Which Forex traders should use commission-free account types?
A commission-free account only makes sense if the Forex broker offers competitive floating spreads, which only a handful of Forex brokers do. Commission-free spreads that exceed 0.8 pips on major currency pairs are expensive. Traders should always avoid fixed spreads, as they fail to reflect market conditions and suggest a market maker that keeps all retail orders in-house and profits directly from client losses.
Which Forex traders should use commission-based account types?
Commission-based accounts usually offer the lowest trading fees, making them suitable for all traders, as trading fees directly impact profitability. It ensures traders manage their portfolios in a competitive trading environment. Commissions should not exceed $7.00 per 1.0 standard round lot, but many brokers have commissions between $4.00 and $6.00. High-volume traders can decrease costs, and commission-based accounts offer traders access to raw market spreads in an STP/NDD/ECN trading environment.
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 for Trading 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.
