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The Top 10 Best Forex Brokers in Australia revealed. We have rated and reviewed the best Forex Brokers accepting Australian Traders.
This is a complete listing of The 10 Best Forex Brokers in Australia. In this in-depth write-up you will learn:
and much, much more!
The Australian Securities and Investments Commission (ASIC) is the regulator of Australia’s markets and financial services. The Australian Securities and Investments Commission (ASIC) is an independent government body that consists of a chairperson and commission members.
 Broker |  Accepts Australian Traders |  Minimum Deposit (USD) | Minimum Deposit (AUD) |  Open an Account |
 XM |  Yes | $5 USD | A$ 7,20 AUD |  Click Here |
 AvaTrade |  Yes | $100 USD | A$ 144 AUD | Click Here |
 Etoro | Yes | $50 USD | A$ 72 AUD | Click Here |
| XTB | Yes | $100 USD | A$ 144 AUD | Click Here |
| IG | Yes | $140 USD | A$ 202 AUD | Click Here |
| CMC Markets | Yes | $10 USD | A$ 14,40 AUD | Click Here |
| Plus 500 | Yes | $100 USD | A$ 144 AUD | Click Here |
| FXTM | Yes | $10 USD | A$ 14,40 AUD | Click Here |
| HFM | Yes | $5 USD | A$ 7,20 AUD | Click Here |
| OctaFX | Yes | $5 USD | A$ 7,20 AUD | Click Here |
Overall, XM.com is considered a trustworthy broker with average risk with spreads as low as 0.6 pips and an above-average trust score of 84 out of 99. XM Group is not a publicly-traded company but is authorized by two tier-1 regulators (high trust).
| Broker | XM.com |
| Regulation | FCA |
 Bonus | Yes |
 Demo Account | Yes |
 Fees from | $ 3.5 |
 Spreads from | 0.6 pips |
 Commission | Account depending |
 Max Leverage | 1:888 |
| Minimum Deposit | $5 |
| Open an Account | Click Here |
 Pros |  Cons |
| Low stock CFD and withdrawal fees | Limited product portfolio |
| Easy and fast account opening | No investor protection for non-EU clients |
| Great educational tools |
Overall, AvaTrade is considered a low-risk and can be summarized as a trustworthy forex broker. Regarding spread and security, AvaTrade guarantees fast trading speeds and secure trading conditions. In terms of users, AvaTrade has more than 500 000 registered clients globally.
| Broker | AvaTrade |
| Minimum Deposit | $100 USD |
| Bonus | Open a trading account in 1 minute and receive up to $ 10.000 Bonus. |
 MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
 Trading Islamic Account | Yes |
 Demo account provided | Yes |
| Open an Account | Click Here |
| Pros | Cons |
| Fee Free Deposit | Limit Offers |
| Low Trading Fees | Inactivity Fee |
| User Friendly | Administration Fee |
Overall, eToro can be summarized as a credible and trustworthy broker and is considered low-risk with competitive trading fees and spreads. Etoro has an overall trust score of 91 out of 99. eToro offers a world-class social trading platform with immediate order execution.
| Broker | eToro |
| Regulation | FCA, ASIC, CySEC |
 Islamic account | Yes |
 Demo Account | Yes |
| Minimum Deposit | $50 USD |
| Institutional Accounts | No |
| Managed Accounts | Yes |
 Maximum Leverage | 20:1 |
| Open an Account | Click Here |
| Pros | Cons |
| Used by 6,000,000+ traders | Doesn’t allow scalping |
| Established in 2006 | Inactivity Fee |
| Regulated by FCA, CySEC, and ASIC | Limited range of instruments |
Overall, XTB can be summarized as a trustworthy broker with a reputable reputation that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, indices, and user-friendly trading conditions to a global market.
| Broker | XTB |
| Min. Deposit | None |
 Inactivity Fee | $10 USD |
| Demo Account | Yes |
| Spreads from | 0.1 |
| Commissions | Pro Account |
| Sign Up Bonus | Yes |
| Open an Account | Click Here |
| Pros | Cons |
| Lowest FX spreads | Does not accept U.S. clients |
| Regulated by FCA (U.K.) | Non-FX spread costs are high |
| Offers protection for client accounts | No guaranteed stop loss |
| Emphasis on customer service | No back-testing or automated trading capabilities |
IG Group can be summarized as a trustworthy broker that provides user-friendly trading conditions and quality educational material. It can be considered a low-risk option that is an excellent fit for pro traders.
| Broker | IG Group |
| Trading Fee Class | High |
| Inactivity Fee | Yes |
| Min. Deposit | $140 USD |
| Base Currencies | 6 |
| Demo Account | Yes |
 Products Offered | ETF/Forex/Options |
| Open an Account | Click Here |
| Pros | Cons |
| Excellent Web-Trading Platform | High Fees |
| Educational Tools | Limited Product Portfolio |
| Great deposit and withdrawal options | Lacking Support |
Overall, CMC Markets can be summarized as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads. It is regulated by five tier-1 regulators (high trust) and one tier-2 regulator (average trust). It has a trust score of 99 out of 100.
| Broker | CMC Markets |
| Min. Deposit | $10 USD |
| Inactivity Fee | Yes |
 Demo Account | Yes |
| Base Currency | 10 |
| Open an Account | Click Here |
| Pros | Cons |
| Low forex fees | High stock CFD fees |
| Great mobile platforms | Only CFDs available |
| Advanced research tools | Customer support only 24/5 |
Plus500 is a tier 1 regulated forex and CFD broker that offers low trading and commission fees. It has an overall high trust score of 97% out of 100 with a low-risk trading environment.
| Broker | Plus500 |
| Min. Deposit | $100 USD |
| Demo Account | Yes |
| Spread | Variable |
| Leverage | 1:30 |
| Base Currencies | 14 |
 Withdrawal Fee | No |
| Deposit Fee | No |
| Pros | Cons |
| User-Friendly | Lack in Research Tools |
| Low Trading Fees | Average Education |
| Listed on the London Stock Exchange | Limited Product Range |
Overall, FXTM can be summarized as a trustworthy broker that provides Contracts for Difference (CFDs) and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market.
| Broker | FXTM |
 Regulation | FCA / FSCA |
| Min. Deposit | $10 USD |
| Islamic Account | Yes |
| Demo Account | Yes |
| Max Leverage | 1:2000 |
| Pros | Cons |
| Excellent Customer Service | High Stock CFD Fees |
| Great Educational Tools | Inactivity Fee |
| No Deposit Fee | No Price Alert |
Overall, HFM rebranded as HFM Markets can be summarised as a trustworthy broker that provides Contracts for Difference (CFDs) and low spreads on 100+ trading instruments. It is regulated by one tier-1 regulator (highest trust) and three tier-2 regulators (medium trust). It has a trust score of 95% out of 100.
| Brokers Name | HFM Ltd |
 Regulation | CySEC, FCA, FSCA |
| Minimum deposit | $0 |
| Maximum Leverage | 1:2000 |
 Asset Types | Forex, Metals, etc. |
| Trading platforms | Web, MT4, MT5 |
| Supported lot | 0.01 – 500 |
| Demo | Yes |
| Open an Account | Click Here |
| Pros |  Cons |
| Segregates client funds | Limited range of instruments |
| Regulated by CySEC | Not FCA Regulated |
Overall, OctaFX can be summarised as a trustworthy and worthwhile broker with a trust score of 90 out of 100. OctaFX is very competitive in terms of its trading fees, with low spreads rounding off its offerings.
| Broker’s Name | OctaFX |
 Headquartered | Kingstown, St Vincent, and the Grenadines |
 Year Founded | 2011 |
| Regulating Authorities | SVGFSA |
 Countries not accepted for trade | The United States, Canada, Belgium, and others outside Europe |
| Islamic account (swap-free) | Yes |
| Demo Account | Yes |
| Institutional Accounts | No |
| Managed Accounts | No |
| Maximum Leverage | 1:500 |
| Minimum Deposit | 5 USD |
| Deposit Options | Visa Bitcoin Skrill Neteller |
| Withdrawal Options | Visa Bitcoin Skrill Neteller |
| Platform Types | MetaTrader 4, MetaTrader 5, cTrader |
| OS Compatibility | Desktop, iOS, and Android |
| Tradable assets offered | Forex, metals, stock indices, cryptocurrencies, and energies |
 Languages supported on Website | English, Indonesian, Malay, Hindi, Urdu, Thai and Vietnamese |
 Customer Support Languages | English, Indonesian, Malay, Hindi, Urdu, Thai and Vietnamese |
 Customer Service Hours | 24/7 |
| Open an Account | Click Here |
| Pros | Cons |
| octafx.eu domain is Regulated and authorized by CySEC | Limited assets |
| Unlimited demo account | Low Crypto coverage |
| Advanced technology | No VPS |
| Forex and CFDs offered | No education tools on Forex |
| More than 30 FX pairs to trade | Telephonic support not available 24/7 |
| No commission deposits or withdrawal options | No clients from USA, Canada, Belgium, or others outside EU |
Now it is your turn to participate:
Which Australian broker from this list do you intend to test out?
What was the determining factor in your decision to engage with a certain broker?
Was it because of the A$ minimum deposit or the Pros and Cons?
Regardless, please share your thoughts in the comments below.
Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader.
Traders need to ensure that they understand their risk exposure and determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital.
According to research, XM is the most popular broker choice in Australia.
Yes, non-Australian residents can trade with forex brokers in Australia. However, non-Australian residents may need to meet certain requirements and provide additional documentation to open an account with forex brokers in Australia. These requirements may vary depending on the broker and the country of residence of the trader.
In Australia, the main regulatory body for forex brokers is the Australian Securities and Investments Commission (ASIC). ASIC is responsible for overseeing and regulating financial services companies, including forex brokers, to ensure that they comply with the law and act in the best interests of their clients.
Yes, forex brokers in Australia are allowed to offer leverage to their clients.
The rough estimate is approximately 110 000 active Australian traders per month.
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