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 Max Leverage Min Deposit
Axi
Australia 2007

1:500 $1 Review
Interactive Brokers
Australia 1977

  • ASIC
  • Central Bank of Ireland 23.12.2020
  • CFTC/NFA
  • FCA (UK)
  • Hungarian National Bank
  • Monetary Authority of Singapore
  • SEC (US)
1:100 $10000 Review
FP Markets
Australia 2005

  • ASIC
  • CySEC
1:500 $100 Review
Vantage
Australia 2006

1:500 $200 Review
Pepperstone
Australia 2010

  • ASIC
  • BaFin 151148
  • Capital Markets Authority of Kenya
  • CySEC
  • DFSA (Dubai)
  • FCA 684312
  • SCB SIA-F217
1:30 $200 Review
IG
Australia 1974

  • CFTC/NFA
  • FCA (UK)
1:50 $1 Review
easyMarkets
Australia 2001

1:400 $25 Review
Hantec Markets
Australia 2009

  • FCA (UK) 502635
  • FSC (Mauritius)
  • Jordan Securities Commission
1:30 $1000 Review
IC Markets
Australia 2007

1:500 $200 Review
Admirals
Argentina 2001

  • ASIC
  • CySEC
  • FCA (UK)
  • FSA (Estonia)
  • FSA (Seychelles)
  • FSCA (South Africa)
  • IIROC 29.04.2022
  • Jordan Securities Commission
1:500 $100 Review
AvaTrade
Australia 2006

1:400 $100 Review
GOMarkets
Australia 2008

1:500 $200 Review
ThinkMarkets
Australia 2010

1:500 $1 Review
Forex.com
Australia 1999

  • CFTC/NFA 0339826
  • FCA (UK)
  • FSA (Japan)
  • IIROC
1:200 $250 Review
Plus500
Australia 2008

  • ASIC
  • CySEC 250/14
  • FCA (UK)
  • FSA (Estonia)
  • FSCA (South Africa)
  • ISA (Israel)
  • Monetary Authority of Singapore
1:300 $100 Review
TMGM
Australia 2013

  • ASIC
  • FSP (New Zealand)
  • Vanuatu Financial Services Commission
1:500 $100 Review
Blueberry Markets
Australia 2016

  • ASIC
1:500 $100 Review
FXOpen
Australia 2003

1:500 $1 Review
IronFX
Australia 2010

  • ASIC
  • CySEC
  • FCA (UK)
  • FSCA (South Africa)
1:30 $100 Review
XM
Australia 2009

  • ASIC
  • BaFin
  • CNMV (Spain) 2010157773
  • CONSOB (Italy)
  • CySEC
  • FCA (UK)
  • FSP (New Zealand)
  • IFSC (Belize)
  • ESMA
1:888 $5 Review
FXCM
Australia 1999

  • ASIC 309763
  • CONSOB (Italy)
  • CySEC
  • DMCC (Dubai)
  • FCA (UK)
  • ISA (Israel)
  • SFC (Hong Kong)
  • ESMA
1:400 $1 Review
TriumphFX
Australia 2009

  • FSA (Seychelles)
  • Vanuatu Financial Services Commission
1:500 $100 Review
AAFX Trading
Australia 2004
  • FSA (St. Vincent & the Grenadines)
1:2000 $100 Review
CMC Markets
Australia 1989
  • BaFin
  • FCA (UK)
1:500 $1 Review
Eightcap
Australia 2009
1:500 $100 Review
ForexCT
Australia 2006
1:400 $500 Review
Ingot Brokers
Australia 2004
1:400 $100 Review
Capital Index
Australia 2014
  • FCA (UK)
  • Securities Commission of The Bahamas
1:200 $100 Review
Royal
Australia 2008
  • ASIC
  • CySEC
1:30 $50 Review
CMS Trader
Australia 2013
1:400 $500 Review
Core Liquidity Markets
Australia 2013
  • ASIC
1:500 $100 Review
AETOS
Australia 2007
  • ASIC
  • FCA (UK)
  • Vanuatu Financial Services Commission
1:200 $250 Review
TOP1Markets
Australia 2018
  • ASIC
  • Vanuatu Financial Services Commission
1:100 $100 Review
Fusion Markets
Australia 2018
  • ASIC
  • FSA (Seychelles)
  • Vanuatu Financial Services Commission
1:500 $1 Review
BMFN
Australia 1988
  • Vanuatu Financial Services Commission
1:400 $50 Review
Moneta Markets
Australia 2020
  • Cayman Islands Monetary Authority
  • FSCA (South Africa)
  • Vanuatu Financial Services Commission
1:500 $50 Review
Blaze Markets
Australia 2020
  • FSA (St. Vincent & the Grenadines)
1:200 $100 Review
USGFX
Australia 2006
  • FCA (UK)
  • FSCA (South Africa)
1:500 $100 Review
Synergy Markets
Australia 2011
  • ASIC
1:500 $100 Review
CLMarkets
Australia 2013
  • ASIC
1:500 $100 Review
ACY Securities
Australia 2013
  • ASIC
  • Vanuatu Financial Services Commission
1:500 $50 Review
Boston Merchant Financial
Australia 1988
  • ASIC
  • FCA (UK)
  • FFMS 1220
  • FSC (Bulgaria)
  • FSP (New Zealand)
  • ESMA
1:400 $50 Review
ETO Markets
Australia 2013
  • ASIC
1:30 $200 Review
Global Prime
Australia 2010
  • ASIC
  • FSA (Seychelles)
  • Vanuatu Financial Services Commission
1:200 $200 Review
PhillipCapital
Australia 1975
  • ASIC
  • FCA (UK)
1:200 $200 Review
Invast Financial Services
Australia 1960
  • ASIC
1:400 $100 Review
Anzo Capital
Australia 2015
1:1000 $100 Review
Capital.com
Australia 2017
1:30 $20 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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