We found 11 online brokers that are appropriate for Trading Australian Forex Platforms.
The remarkable thing about trading the Forex in Australia is that anyone can participate in it. However, this does not imply that everyone has to try their hand at Forex trading. Successful Forex traders are aware that strategy, education, and discipline are important factors in creating a successful trading career. If you begin dabbling in Forex trading in Australia without any of these skills, you may be able to generate profits from a few trades, but you will find that you will suffer an overall loss.
However, if you are prepared to learn more about the market, Forex trading can be a great way to generate a constant income. It would help if you have a fast and stable internet connection as the Forex markets moves very quickly. If your internet connection is slow, it can affect your trade significantly. Successful traders can turn to lose trades in seconds. Several traders based in Australia trade using their mobile phones, but this should not be used as the main trading platform and is perfect for checking on open trades when on the move or as backup.
The essential factor to search for in a Forex broker is to check if the Australian broker is authorised by the Australian Securities and Investment Commission (ASIC). ASIC is the governing agency that manages the Australian financial industry regulations. ASIC is also responsible for the consumer's corporate governance and protection, which ensures that Australian brokers do not exploit traders' rights as a consumer.
Other than the regulatory factor, you should also make sure that the Australian broker offers you a secure trading platform. The trading platform is each trader's key to the financial markets. If you do not possess a dependable trading platform, you will not be able to trade efficiently. Lastly, check the commissions or spreads that the broker charges. If the Forex broker asks for high commission or spreads, your profits will also be affected.
In the last decades with China's economy developing at an alarming rate, the recognition and the exports from Australia have increased. As a result of the increase in the value of Australia's currency, many traders have earned considerable amount of profits. Also, there has been a higher interest in retail Forex trading, resulting in this industry developing at a fast rate in recent years.
When choosing an Australian Forex broker, there are several areas to consider. Theses areas include ensuring that the brokers are regulated, there is excellent customer support, and other factors like leverage, commissions and spreads provided by the broker. These aspects will be explained further below:
Together with the costs of trading being part of the major factors that decide the profitability of a trader, several Australian Forex traders' initial instinct is to check the spreads and commissions offered by brokers. Depending on the business model of the broker, most Australian brokers do not ask for commissions. Rather, their major source of income is the traders' spread every time they make a trade.
The spread is simply the difference between the 'ask' and 'bid' price. For regularly traded currency pairs, the traders' spreads can vary from 0 pip to 5 pips. Additionally, when appraising the broker's spreads, check if the spreads provided are variable or fixed. For investors who prefer stability, it is good to choose fixed spreads instead of variable spreads as they do not move with the volatility of the market.
Though several brokers do not collect any commissions, this is not applicable for brokers who provide the trading capacity of ECN. An ECN, known as the Electronic Communications Network, broker permit traders to directly deal with the providers of liquidity, thus permitting them to exploit the interbank rates given by the liquidity providers. To make up for the loss of capital by providing traders direct permission to the interbank rates, ECN brokers require the payment of commission. Thus, commissions can be variable or fixed depending on the percentage of the trading volume.
The ratio of the Australian Forex broker's leverage is also another important factor to consider. For traders in Australia, the leverage offered to them is relatively higher than their European counterparts. For example, several brokers in Europe are only allowed to give their customers a maximum of 1:100 leverage ratio because of the regulatory restrictions. On the other hand, brokers regulated by the Australian agencies are allowed to provide a maximum of 1:500 leverage ratio.
In conclusion, there are several benefits that Forex traders in Australia can experience as long as they know how to choose the best Forex broker to work with. In this article, we have discussed some of the more basic factors to consider when choosing a Forex broker. While the tips shared in this article is important, there are still many other considerations that have to be taken into account. Therefore, beginner traders looking to venture into the Forex market should conduct sufficient research on the Forex market before investing capital.
We have conducted extensive research and analysis on over multiple data points on Forex Australia to present you with a comprehensive guide that can help you find the most suitable Forex Australia. Below we shortlist what we think are the best Australian Forex Platforms after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Forex Australia.
Selecting a reliable and reputable online Australian Forex Platforms trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Australian Forex Platforms more confidently.
Selecting the right online Australian Forex Platforms trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for Australian Forex Platforms trading, it's essential to compare the different options available to you. Our Australian Forex Platforms brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a Australian Forex Platforms broker that best suits your needs and preferences for Australian Forex Platforms. Our Australian Forex Platforms broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Australian Forex Platforms.
Compare Australian Forex Platforms brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Australian Forex Platforms broker, it's crucial to compare several factors to choose the right one for your Australian Forex Platforms needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are Australian Forex Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Australian Forex Platforms that accept Australian Forex Platforms clients.
Broker | IC Markets | Roboforex | eToro | XTB | XM | Pepperstone | AvaTrade | FP Markets | NordFX | EasyMarkets | SpreadEx |
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) |
Min Deposit | 200 | 10 | 100 | No minimum deposit | 5 | 200 | 100 | 100 | 1 | 100 | 1 |
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Used By | 180,000+ | 1,000,000+ | 30,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 10,000+ | 142,500+ | 10,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 74-89 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits |
Demo |
IC Markets Demo |
Roboforex Demo |
eToro Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
NordFX Demo |
easyMarkets Demo |
SpreadEx Demo |
Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA, EU, RU, SY, KP, CU | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR |
You can compare Australian Forex Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Australian Forex Platforms for 2024 article further below. You can see it now by clicking here
We have listed top Australian Forex Platforms below.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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