Forex Brokers in Australia


In Australia, forex brokers are regulated by ASIC, Australian Securities and Investments Commission. Slightly different from US and European partners, the Australian forex broker has more flexible regulations. Traders must take note that ASIC-regulated forex broker doesn't accept clients from outside Australia.

ASIC is considered as one of the most respectable regulators worldwide. While trading in Australian brokers, traders can gain advantages of having exceptionally safe trading activities, higher leverage than EU and USA, plus bonafide regulation.

Broker Regulation Max Leverage Min Deposit General Rating
FXCM
Australia
1999
ASIC 309763
CONSOB (Italy), 76
CySEC, 392/20
DMCC (Dubai), 31171
FCA (UK), 217689
ISA (Israel), 2
SFC (Hong Kong), AIM232
ESMA
1:400 $1 Review
Pepperstone
Australia
2010
ASIC, 414530
BaFin 151148
Capital Markets Authority of Kenya, 128
CySEC, 388/20
DFSA (Dubai), F004356
1:500 $200 Review
Plus500
Australia
2008
ASIC, 417727
CySEC 250/14
FCA (UK), 509909
FSCA (South Africa), 47546
ISA (Israel), 5
Monetary Authority of Singapore, 2017-12-11
1:300 $100 Review
easyMarkets
Australia
2001
ASIC, 246566
CySEC, 079/07
FSA (Seychelles) 19.09.2020
FSC (BVI), 15.20.2020
1:400 $100 Review
Forex.com
Australia
1999
CFTC/NFA 0339826
FCA (UK), 190864
FSA (Japan), 1539
IIROC, May 10, 2012
1:200 $250 Review
Hantec Markets
Australia
2009
FCA (UK) 502635
FSC (Mauritius), C114013940
Jordan Securities Commission, 51905
1:30 $1000 Review
ThinkMarkets
Australia
2010
ASIC, 424700
FCA (UK), 629628
FSA (Japan), 19/02/2021
FSCA (South Africa) FSP No 49835
1:30 $1 Review
IC Markets
Australia
2007
ASIC, ACN 123 289 109
CySEC, 362/18
Securities Commission of The Bahamas SIA-F214
1:500 $200 Review
XM
Australia
2009
ASIC, 443670
BaFin, 124161
CNMV (Spain) 2010157773
CONSOB (Italy), 3046
CySEC, 120/10
FCA (UK), 538324
FSP (New Zealand), FSP235905
ESMA
1:888 $5 Review
Interactive Brokers
Australia
1977
ASIC, 453554
Central Bank of Ireland 23.12.2020
CFTC/NFA, 0258600
FCA (UK), 208159
Hungarian National Bank, H-EN-III-623/2020
Monetary Authority of Singapore, CMS100917
SEC (US), 8-47257
1:100 $10000 Review
CMC Markets
Australia
1989
BaFin, 154814
FCA (UK), 173730
1:500 $1 Review
FXOpen
Australia
2003
ASIC, 412871
FCA (UK), 579202
1:500 $1 Review
ForexCT
Australia
2006
None 1:400 $500 Review
Eightcap
Australia
2009
ASIC, 391441
Vanuatu Financial Services Commission 40377
1:500 $100 Review
Capital Index
Australia
2014
FCA (UK), 709693
Securities Commission of The Bahamas, SIA-F199
1:200 $100 Review
FP Markets
Australia
2005
ASIC, 286354
CySEC, 371/18
1:500 $100 Review
AAFX Trading
Australia
2004
FSA (St. Vincent & the Grenadines), 22916 IBC
1:2000 $100 Review
IG
Australia
1974
CFTC/NFA, 0509630
FCA (UK), 195355
1:50 $1 Review
Ingot Brokers
Australia
2004
ASIC, 428015
FSA (St. Vincent & the Grenadines), 24172
FSP (New Zealand) FSP157304
1:400 $100 Review
Royal
Australia
2008
ASIC, 420268
CySEC, 312/16
1:30 $50 Review
Synergy Markets
Australia
2011
ASIC, AFSL 403863
1:500 $100 Review
Core Liquidity Markets
Australia
2013
ASIC, 164994049
1:500 $100 Review
Invast Financial Services
Australia
1960
ASIC, 438283
1:400 $100 Review
PhillipCapital
Australia
1975
ASIC, AFSL 246827
FCA (UK), 169760
1:200 $200 Review
CMS Trader
Australia
2013
None 1:400 $500 Review
Global Prime
Australia
2010
ASIC, 385620
FSA (Seychelles), SD057
Vanuatu Financial Services Commission, 40256
1:200 $200 Review
TriumphFX
Australia
2009
Ministry of Finance and Economic Management (Vanuatu) 17901
1:500 $100 Review
ETO Markets
Australia
2013
ASIC, 420224
1:30 $200 Review
Boston Merchant Financial
Australia
1988
ASIC, 379035
FCA (UK), 563348
FFMS 1220
FSC (Bulgaria), RG-03-220
FSP (New Zealand), FSP328066
ESMA
1:400 $50 Review
GOMarkets
Australia
2008
ASIC, ACN081864039
CySEC, 322/17
DMCC (Dubai) 18.07.2020
1:500 $200 Review
IronFX
Australia
2010
ASIC, 417482
CySEC, 125/10
FCA (UK), 585561
FSCA (South Africa), 45276
1:30 $100 Review
ACY Securities
Australia
2013
ASIC, 403863
1:500 $100 Review
Blueberry Markets
Australia
2016
ASIC, 391441
1:500 $100 Review
Anzo Capital
Australia
2015
ASIC, AFSL 514425
FSA (St. Vincent & the Grenadines), 308 LLC 2020
IFSC (Belize) 000331/48
1:1000 $100 Review
CLMarkets
Australia
2013
ASIC, 164994049
1:500 $100 Review
AvaTrade
Australia
2006
ASIC, 406668
Central Bank of Ireland, C53877
Financial Futures Association (Japan) 1574
Financial Services Regulatory Authority (Abu Dhabi), 190018
FSA (Japan), 1662
FSC (BVI), 2013-07-30
FSCA (South Africa), 45984
IS
1:400 $100 Review
Axi
Australia
2007
ASIC, 318232
DFSA (Dubai) 2758
FCA (UK), 509746
FSCL (New Zealand), FSP518226
1:400 $1 Review
USGFX
Australia
2006
FCA (UK), 798776
FSCA (South Africa), 49854
1:500 $100 Review
Vantage FX
Australia
2006
ASIC, #ACN 140 903 886
Cayman Islands Monetary Authority 1383491
FCA (UK), 501057
Vanuatu Financial Services Commission, 700271
1:500 $200 Review
MultiBank
Australia
2005
ASIC, 416279
BaFin, 73406
DFSA (Dubai), CL3989
FCA (UK), 481068
FSC (BVI) SIBA/L/14/1068
Ras Al Khaimah Free Trade Zone, IC/2993/10
1:500 $50 Review
Blaze Markets
Australia
2020
FSA (St. Vincent & the Grenadines), 26027 BC 2020
1:200 $100 Review
Admirals
Australia
2001
ASIC, 28381
CySEC, 201/13
FCA (UK), 595450
FSA (Estonia), 10932555
FSA (Seychelles), 8426894-1
Jordan Securities Commission 57026
1:500 $100 Review
Moneta Markets
Australia
2020
Vanuatu Financial Services Commission, 700271
1:500 $50 Review
BMFN
Australia
1988
Vanuatu Financial Services Commission, 40202
1:400 $50 Review
Fusion Markets
Australia
2018
ASIC, 226199
Vanuatu Financial Services Commission, 40256
1:500 $1 Review
TOP1Markets
Australia
2018
ASIC, 488340/001276870
Vanuatu Financial Services Commission, 40436
1:100 $100 Review
TMGM
Australia
2013
ASIC, 436416
FSP (New Zealand), 569807
Vanuatu Financial Services Commission, 40356
1:500 $100 Review
AETOS
Australia
2007
ASIC, 313016
FCA (UK), 592778
Vanuatu Financial Services Commission, 700450
1:200 $250 Review
Capital.com
Australia
2017
ASIC, 513393
CySEC, 319/17
FCA (UK), 793714
NBRB (Belarus) 193225654
1:30 $100 Review


What You Need to Know about Forex Trading in Australia

The Commonwealth of Australia, the largest country in Oceania, has a thriving economy. Their average wealth was only second to Switzerland from 2013 to 2018. That was when Australia overtook Switzerland's position to become the country with the highest median wealth. They have a high GDP per capita and a pretty low rate of poverty. By 2020, Australia was the 13th on the list of countries with the highest economy by nominal GDP.

62.7% of that high GDP comes from the service sector, manned by 78.8% of the labor force in 2017. Followed by construction at 7.4% and mining at 5.8%. Part of that service sector specifically comes from brokerage service, for many traders in Australia and abroad.

Forex trading in Australia is claimed to be a huge business now, which is stimulated by the investors' attention toward currency trading after the global financial crisis in 2008-2009. Their currency, the Australian Dollar, has growing global importance which is correlated to the Chinese economy and oil prices.

In more than a decade, Australian forex brokers have grown into well-known brokers to millions of traders around the globe. This industry is now worth $380 billion, twice the value since 2007.

Australian government used to regulate this industry in a less restrictive manner when compared to the US which forbids the brokers from offering more than 50:1 leverage to retail traders. Australian Securities and Investments Commission (ASIC) initially allowed the brokers under their regulation to give 400:1 leverage to their traders, but current changes have restricted the leverage offering to only 30:1 on major currency pairs. Still, this doesn't deter Australian forex trading from rising higher in popularity.

Many traders put their trust in Australian brokerage because ASIC keeps a high standard before issuing their license. All brokers who wish to obtain Australian Financial Services License or AFSL must meet several strict specifications such as the demonstration of technical capabilities, sufficient financial resource, provision for staffs training, compliance to a certain set of rules, a clear and efficient procedure for dispute resolution, and adequate protection to their client's funds.

Many forex brokers in Australia offering great features such as Straight Through Processing and True Electronic Communication Network. They have piqued the interest of some of the largest institutional traders and money managers.


How to set the right foot into forex trading in Australia?

Find the Right Broker


First, you will need to find the right broker for you. We say the right broker because even a good broker might not have a specifically suitable service or products for you. If there is one certain criterion, that would be a broker that is regulated by ASIC.

Another thing you need to pay attention to is the broker's policy regarding customer service. Sometimes, you might have a question to pose or problems to solve. A broker with good customer service should be able to answer your question or solve a problem that might occur.


Set Your Initial Deposit


Next up is the amount of the deposit that they will ask before you open a live account. There are a few brokers that allow you to open an account with just $1 while some other brokers require a minimum deposit of $10,000. Which one is the best?

Think of opening a forex account like opening a business, how much room for error if $1 is all you have in your business? Nevertheless, it cannot justify you to put a million dollars on your first forex account. Only use a fraction of what you can afford to lose as your first deposit, keep in mind that this is a pretty risky business.



Another thing to pay attention to is leverage. This is basically the amount you will borrow from your broker. You may need this if you only place a small deposit. This leverage can help your account moves faster in both directions. If you have a good plan to execute, this leverage can help your account grow. On the other hand, if you poorly executed the trades, the same leverage will blow your account.


Once you have a good broker to work with and a reasonable amount to deposit, you should find a good strategy before executing any kind of trade. It is fine if you can only execute a single trade in a week or even a month; waiting for a good opportunity is part of trading as well.

All in all, Australia is a good country to work with when it comes to forex trading. In-depth explanations regarding analysis and technique would be a topic to discuss in this article list.




FAQ

What is the best forex broker in Australia?

Finding the best forex broker in Australia is not much different from choosing the right broker in general. Aside from making sure that the forex broker is available for client registration from Australia, you need to check its regulation, minimum deposit, spread, leverage, payment methods, and other trading-related aspects that may affect your strategy. Furthermore, make sure that the broker has a good credibility and reliable customer support.


Where can I trade forex in Australia?

The list in this page can be a good reference if you look to trade with in Australia. We have sorted specific forex brokers that accept clients from Australia, so you can choose one of the brokers by comparing their minimum deposit, regulation, leverage, and rating. If you are interested to learn further about a certain broker, feel free to click the review button.


What is the best forex broker for beginners?

If you are a beginner and looking for the right broker to trade with in Australia, some aspects that you need to pay attention to are the low minimum deposit, demo account , and educational features. Apart from that, it's also better to make sure that the broker has good customer service because as a beginner, you may need to consult about broker services that still seem incomprehensible to you.

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