Demo Account Guide
Demo Account Guide
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Essentials for Australian Traders

👪 Population: 26,638,544
🦘 GDP: 1,693 billion USD
  Full Year GDP Growth: 2.7%
📊 GDP per Capita: 60,994 USD
〽️ Inflation Rate: 4.1%
📈 Consumer Price Index (CPI): 136 points
*information as of January 2024

Investment Trends report data indicates that over 100,000 Australians engaged in at least one FX or CFD transaction in 2021. Furthermore, industry insights from Finance Magnates Intelligence reveal that the average monthly deposit by Australians surpassed $8,443 in the first ten months of 2021. Australian traders also displayed an active trading pattern, averaging 119 monthly transactions per trader during this period.

See Also:

Forex Trading Scams in Australia: Facts and Prevention

High-Impact Australia Economic Data

  • Australian GDP (Gross Domestic Product): Represents the total value of goods and services produced within Australia's borders over a specific period, typically a quarter or a year.
  • Full Year GDP Growth: Indicates the percentage change in Australia's GDP over a complete fiscal year, usually compared to the previous year.
  • GDP per Capita: Calculated by dividing a country's GDP by its population. Represents the average economic output per person in Australia.
  • Inflation Rate: Measures the percentage change in the average price level of goods and services over a specific period, typically a month or a year.
  • Consumer Price Index (CPI): Reflects inflationary pressures on household budgets and serves as a key indicator of cost-of-living changes.

The Brokers

Australia stands out as a central hub for retail trading, hosting several globally renowned brokers that provide a range of trading services encompassing forex and contracts for differences (CFDs). Notable names include IC Markets, Vantage, Pepperstone, FP Markets, and Blueberry Markets, contributing to the country's prominence in the trading arena.

Year Est. 2007
Min Deposit
Commendable Raw Spreads
$200
Leverage 1:1000
Regulation ASIC, CySEC, SCB, The Financial Commission, FSA (Seychelles)
score 89
Year Est. 2009
Min Deposit
Excellent platform variety
$200
Leverage 1:500
Regulation ASIC, VFSC, CIMA, FCA, FSCA
score 70
Year Est. 2010
Min Deposit
Best for Beginners
$0
Leverage 1:400
Regulation ASIC, BaFin, Capital Markets Authority of Kenya, CySEC, DFSA (Dubai), FCA, SCB
score 79
Year Est. 2005
Min Deposit
Reliable Customer Support
$100
Leverage 1:500
Regulation ASIC, CySEC, FSCA, FSA (Seychelles)
score 78
Year Est. 2016
Min Deposit
Real time trade signals
$100
Leverage 1:500
Regulation ASIC, SCB
score 71
score 89
Commendable Raw Spreads
Year Est. 2007
Min Deposit $200
Leverage 1:1000
Regulation ASIC, CySEC, SCB, The Financial Commission, FSA (Seychelles)
score 70
Excellent platform variety
Year Est. 2009
Min Deposit $200
Leverage 1:500
Regulation ASIC, VFSC, CIMA, FCA, FSCA
score 79
Best for Beginners
Year Est. 2010
Min Deposit $0
Leverage 1:400
Regulation ASIC, BaFin, Capital Markets Authority of Kenya, CySEC, DFSA (Dubai), FCA, SCB
score 78
Reliable Customer Support
Year Est. 2005
Min Deposit $100
Leverage 1:500
Regulation ASIC, CySEC, FSCA, FSA (Seychelles)
score 71
Real time trade signals
Year Est. 2016
Min Deposit $100
Leverage 1:500
Regulation ASIC, SCB

The Regulations

Last year, the Aussie retail FX/CFDs trading scene saw a significant regulatory shake-up orchestrated by the Australian Securities & Investments Commission (ASIC). Tasked with overseeing the Aussie financial market, ASIC implemented measures to curb leverage offered by brokers to retail traders. The maximum leverage for FX majors was capped at 30:1, and it plummeted to a mere 2:1 for crypto CFDs.

See Also:

UK FCA vs ASIC, Which Forex Regulator is More Reliable?

Pros
  • Regulated by ASIC
  • The forex market operates 24 hours a day, five days a week
  • The Australian dollar (AUD) is one of the major currencies traded in the forex market
  • Forex brokers in Australia offer advanced trading platforms
Cons
  • Low leverage
  • High volatility
  • Time zone differences
  • Susceptible to manipulation by large financial institutions and market participants

FAQ

According to data from the Investment Trends report, over 100,000 Australians engaged in at least one FX or CFD transaction in 2021.
The average monthly deposit by Australians surpassed $8,443 in the first ten months of 2021, as revealed by industry insights from Finance Magnates Intelligence.
The Australian Securities & Investments Commission (ASIC) oversees the Aussie retail FX/CFDs trading scene and implemented measures to regulate leverage offered by brokers to retail traders.
Notable forex brokers operating in Australia include IC Markets, Vantage, Pepperstone, FP Markets, and Blueberry Markets. These brokers provide a range of trading services encompassing forex and contracts for differences (CFDs), contributing to Australia's prominence in the trading arena.
Jul 9 2020 10792
What to look for when you are searching for the best broker in Australia? This article reveals the three main criteria and 6 examples of forex broker qualified as the best ones in Australia.

Best Forex Brokers in Australia

Jul 9 2020
What to look for when you are searching for the best broker in Australia? This article reveals the three main criteria and 6 examples of forex broker qualified as the best ones in Australia.
Jun 14 2023
The Australian Dollar's movements are heavily influenced by commodity prices. When commodity prices rise, it makes AUD robust. Here's the explanation.

How Commodity Prices Affect the Australian Dollar

Jun 14 2023
The Australian Dollar's movements are heavily influenced by commodity prices. When commodity prices rise, it makes AUD robust. Here's the explanation.