Over the last few years, FP Markets have invested heavily in winning new forex traders to their platform. And in the process won a well-deserved reputation for being beginner-friendly. The industry has recognized this investment in widening its customer base in the form of awards for its class-leading customer support. For instance, the website is available in 15 languages, and you can access customer support via live chat, email, or by phone call back.

Unsurprisingly, perhaps, for a platform that has vowed to be beginner-friendly, it offers copy trading via its Myfxbook AutoTrade rebadged app. Install it into MetaTrader, and it will automatically mirror trades for you. FP Markets is an excellent choice for low spread, low-cost forex trading.

They are two types of forex accounts. The Standard is a zero commission account offering spreads from 1. To get your hands on 0. Overall, FP Markets are a good choice if you are a novice or wish to use copy trading technology.

Unfortunately, AxiTrade r does not have the profile it rightly deserves. As forex brokers go, AxiTrader is somewhat unsung. Two qualities most people would agree are admirable traits for an online forex broker. AxiTrader now boasts a region of 60, traders in over countries. Given their growing status, we can expect big things from AxiTrader in the future. Right now, though, they remain an excellent choice for Australian forex traders. If you are looking to change provider or start forex for the first time, AxiTrader is eminently worth your time to check out.

You can get access to three main currency markets in New York, London, and Tokyo, so you trade foreign exchange 24 hours every weekday if you wish. AxiTrader is serious in its pursuit of new forex traders. As well as demo accounts, they offer easily digestible educational resources.

However, it is arguable whether there really is enough there to give you more than a foundation. In common with every other forex broker we review, we would strongly recommend opening a demo account first.

That way, you can practice without putting any of your hard-earned on the line. In , AxiTrader was a two-person startup. Some 13 years later, it is a truly global business, with its sights on an even greater market share. This strategy hinges on their use of Artificial Intelligence analytics and cutting-edge technology to keep a step ahead.

With a TrustScore of 98, you can relax in the knowledge that FXCM is one of the most trustworthy forex platforms available. Regulated in Australia, the UK, and South Africa, FXCM ticks all the fintech regulatory boxes. Based in the UK, the company is also a part of a London Stock Exchange-listed company. All in all, FXCM has a fine pedigree, which is why it is such a popular pick. We had no hesitation whatsoever giving a spot in our top 5 best forex brokers in Australia review.

To be frank, they were a shoo-in from the outset of our research. Nonetheless, this affection is backed up by the facts, not a mere sentiment. From the off, you kind of know that they are a slick operation. Their website, for instance, is one of the most attractive forex broker websites on the internet.

A FXCM trading account gains access to over 60 currency pairs and advanced trading tools to help you avoid blowing up your account. These tools comprise stop loss, stop limit, and guaranteed stop to limit your losses and lock-in profit. FXCM is attuned to helping new forex traders be a success.

This is evidenced, for one, by their free unlimited demo accounts. Many other forex platforms only offer day trials before you have to leave or switch to a live trading account. You can take as long as you need to learn the platform or get to grips with forex trading if you are a novice. FXCM is committed to learning and training. The only downside, given their emphasis on beginners, is that they do not allow social trading. And we have showcased them here in our review. They are IC Markets, Vantage FX, FP Markets, AxiTrader, and Plus Our 5 best Australian Forex Brokers review showcases all five and explains why we think they are tops for Down Under.

Always ensure that whichever forex broker you choose is regulated by a tier-one financial regulatory body. In Australia, this is ASIC Australian Securities and Investments Commission. This link goes to the ASIC website , where you will find a wealth of information about forex. ASIC is poised to introduce a draft of more stringent forex trading measures on March 29, Consequently, they are cutting leverage from down to The regulator is also making it compulsory that forex brokers increase investor protection by closing out all open positions and having negative balance protection in place.

ASIC is also banning the majority of bonus promotions and incentives. There are no shortcuts with forex trading.

You have to put in long hours of learning and training to fully understand the forex trading principles. Dial-in leverage multiplies profits and losses. Yes, the profit you obtain from forex trading is taxable.

It is regarded as income, like any other revenue source. The tax rules that apply to the stock market apply equally to forex. Please check the tax laws in your country of residence. There are a host of forex brokers vying for business from Australian investors. That in itself tells you something.

However, not all forex brokers are created equal. Not all of them are regulated by ASIC. However, given the cut in leverage rates to , you may need to look elsewhere to access higher levels of leverage.

But most brokers got multiple regulations where you can switch to get high leverage. Our review has shone the spotlight on five forex brokers we consider to be best for Australian residents. We almost certainly deployed the same criteria you would use as benchmarks. We are confident the five we have showcased here are a good, well-rounded selection of brokers that will appeal to new and old forex traders alike.

Therefore, we have no hesitation in commending these forex brokers to you in the knowledge they are all aligned with the needs of Australian investors. Last Updated on November 10, by Andre Witzel. Risk Warning: Your capital can be endangered. Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an investment recommendation and serve to clarify the market mechanisms.

The texts on this page are not an investment recommendation. Trading Futures and Options on Futures involves substantial risk of loss and is not suitable for all investors.

You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Past performance is not indicative of future results. This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website. Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer. These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

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Here is the official ASIC page for Pepperstone. Was this helpful? Yes or No. For our Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50, words of published research. Each broker was graded on different variables, including our proprietary Trust Score algorithm.

This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read more about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.

A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets.

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Forex Guides Directory.

Want to trade forex in Australia? In this guide, we highlight the 10 best forex brokers in Australia for and offer Australian forex broker reviews for the top platforms. eToro is our 1 pick for traders in search of the best forex broker in Australia right now. Apart from assets like ETFs, and cryptocurrencies, this trading platform also offers more than 40 currency pairs to trade as CFDs.

What makes eToro special is its custom online trading platform, which is available for the web and mobile devices. It also includes a news feed, economic calendar, and market research from professional analysts. Even better, eToro has a built-in social trading network. You can easily see what other traders think about a currency pair and monitor changes in momentum.

The platform also lets you copy the moves of more experienced traders. com is another one of the best Australian forex brokers. com offers over different currency pairs to trade!

Since the exotic pairs trade as CFDs and Capital. com is a popular platform, liquidity is relatively high even for the most unusual currency pairs. Trading forex with Capital. This broker has its own custom trading platform, which we liked for its ease of use. The platform includes AI software that analyses your trades and makes suggestions for how to improve your trading experience, which is also nice.

But the best thing about Capital. This means you get access to highly customisable charts and forex signals. com puts a lot of emphasis on trader education, which is another thing we think traders will appreciate about this platform.

Plus, inside Capital. com financial products it offers a free, unlimited forex demo account so you can try out new strategies. VantageFX is one of the best forex brokers in Australia for traders who want to take big positions in the currency market.

Even exotic forex pairs can be traded on margin of or more! The VantageFX financial services also stands out because it offers both STP accounts straight-through processing and ECN accounts electronic communications network. Both types of accounts offer lightning-fast execution speeds, but they do differ in fee structure. VantageFX is a homegrown Australian broker and is regulated by ASIC. For traders who hate paying spreads, Libertex is a top Australian forex broker that offers tight spreads.

This broker makes money instead by charging fixed commissions for every forex trade, which can be as low as 0. Libertex offers trading on more than 50 currency pairs, including all the majors and minors and a handful of exotics. You can trade with leverage up to This broker offers its own trading platform as well as integrations with MetaTrader 4 and MetaTrader 5.

Libertex is regulated by the Cyprus Securities and Exchange Commission and is widely considered to be safe. AvaTrade is one of the best forex brokers in Australia if you want to trade options.

This broker offers 55 currency pairs, nearly all of which can be traded either through CFDs or through European-style vanilla options. What makes AvaTrade great for options trading is that it offers a custom web, ctrader and mobile trading platform specifically built for options analysis. The AvaOptions platform lets you quickly build multi-leg options strategies, analyse profit and loss, and even check your probability of profit based on historical volatility.

AvaTrade also has a social trading and copy trading platform, called AvaSocial. With this platform, you can chat with other traders, follow like-minded forex traders, and even automate your portfolio to mimic the moves of more experienced and active traders.

Trading with AvaTrade is fairly inexpensive. There are no deposit and withdrawal fees to worry about. However, be sure to watch out for the inactivity fee, which kicks in after 3 months and can be quite expensive.

The first thing every trader should think about when comparing the top Australian forex brokers is safety. Most of the online brokers we reviewed are regulated by ASIC, which is not only a strong regulator in Australia but one of the most widely respected financial watchdogs in the world.

ASIC-regulated forex brokers have to follow specific guidelines that protect traders, such as keeping client funds in segregated accounts and minimising slippage when executing trades. Several of the forex brokers in Australia we reviewed, including Capital.

A major concern for traders when picking a forex broker is the trading costs. As you can see from our forex trading broker comparison above, trading fees for currency trading can vary widely from one broker to the next.

Most Australian top forex brokers offer commission-free trading and instead charge a spread. This is typically around 1. Importantly, the spread for a specific currency pair can change over time depending on foreign exchange market conditions.

Alternatively, brokers like Libertex charge a fixed commission that remains constant over time. Be sure to check what fees your broker charges and know how to avoid them. The range of assets that forex brokers provide is also important to consider.

Nearly every Australian forex broker offers trading on all of the major and minor currency pairs. We think Capital. com is the best forex broker in Australia for trading exotic currency pairs and AvaTrade is the best for trading forex options. Your broker will be your main source of research, analysis, and tools for navigating the forex market.

Important tools to look for include a market news feed, an economic calendar, price alerts, and watchlists. You may also want to look for a market sentiment gauge, which shows whether other traders are buying or selling a specific currency pair. Forex signals and customisable technical studies are also critical for advanced forex traders who want to dive into market analysis.

Having a social trading platform — like the ones that eToro and AvaTrade provide — can also be important, particularly for newer forex traders. These platforms enable you to share ideas and strategies with other traders and can help you learn the ropes of fx trading. Some brokers, like eToro and Capital. com, have created their own custom platform that provides user-friendliness while also giving traders access to advanced tools. Brokers like Libertex, AvaTrade, and VantageFX each offer their own platforms as well as integrations for MetaTrader 4 and 5.

One thing to note when comparing Australian forex trading platforms is whether they are available through a mobile app for iOS and Android devices. All of the top brokers we reviewed offer forex apps. While many forex brokers only offer a single, standard account type, some let you choose between multiple different account options. For example, VantageFX has both STP accounts and ECN accounts with different pricing structures.

Think carefully about the amounts of forex you will buy and sell with each trade and what type of account best suits your needs.

All of the top brokers in Australia we reviewed accept credit cards, debit cards, and bank transfers to fund your trading account. eToro makes payments even easier by accepting e-wallets like PayPal, Neteller, and Skrill. Ready to start trading with the best forex broker in Australia? You can also sign up using your Google or Facebook credentials. You can pay by credit card, debit card, PayPal, Neteller, Skrill, or bank transfer. Enter the amount you want to buy or sell in AUD and choose how much leverage to apply to your trade.

You can also set a stop-loss or take-profit order if it makes sense for your trading strategy. Trading forex in Australia is simple when you have the right currency trading broker for the job. Thanks to our Australian forex brokers review, you can easily find the best one for you.

Ready to start trading with the overall best forex broker in Australia? Click the link below to sign up for an eToro account and place your first commission-free trade! A forex broker is a financial company that enables individuals to buy and sell currencies. So, a forex broker lets you buy one currency and exchange it for another. Most forex brokers make money on the spread, which is the difference between the bid and ask price for a currency pair. The spread is usually measured in pips and is around 1 pip for major forex pairs.

This equates to a 0. Some forex brokers also charge a commission, which can be several dollars per trade. The best forex broker for you will depend on your trading style and the exact currency pairs you want to trade. That said, we think eToro is the best forex broker in Australia in eToro offers commission-free trading, a social network with millions of traders, and a comprehensive trading platform for web and mobile. Many top forex brokers accept Australian clients, including eToro, Capital.

com, VantageFX, Libertex, and AvaTrade. We think eToro is the best forex broker for Australian traders in The spread in forex trading is the difference between the bid and ask price for a currency pair. This difference is typically small — around 1. Your broker keeps the spread and this is how many forex brokers make money.

Michael is an experienced freelance journalist and writer based in Washington. His core expertise includes finance, trading and technology. His work has been published on various websites that are prominent in the financial space.

Steven Hatzakis is the Global Director of Research for BrokerNotes. Performance Performance. This is a unique offering by GO Markets, not available at many other brokers. Virgin Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Venezuela Vietnam Wallis and Futuna West Bank Western Sahara Yemen Zambia Zimbabwe. Over currency pairs to trade Trading platform includes TradingView integration Spreads starting from 0.

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