15 Best Australian Forex Brokers

In this article, we give you an honest review of trading with our 15 Best Australian Forex Brokers with the unbiased pros and cons of trading with each broker.

Trading with one of these regulated Forex brokers will help you avoid any serious financial risks.

We recommend trading with a broker that supports your country’s currency to minimize the effect of exchange rates on your investments.

Most brokers that accept Australian clients are regulated by the Australian Securities and Investments Commission and are some of the safest brokers in the world.

 

AvaTrade

AvaTrader is a multi-award-winning Forex broker with over 300,000 clients and is regulated in several jurisdictions.

AvaTrade offers a variety of trading instruments and a user-friendly interface with multilingual customer support that is available 24/5.

AvaTrade also provides educational material for beginners to teach them about trading rules, market terms and all the fundamentals every trader needs to know.

Clients can choose from 4 account types and can use DupliTrade, ZuluTrade and AvaSocial in addition to other platforms provided.

 

AvaTrade Pros and Cons:

✔️Pros	❌Cons
Account creation is easy	Not available in US
Free deposits and withdrawals	Telephonic customer support is unreliable at times
Great educational content
Highly regulated

 

FP Markets

FP Markets offers more than 10,000 instruments with low spreads, high liquidity and fast network latency.

This broker accommodates all types of traders, including beginners and social traders, and provides educational resources for new traders.

Clients also have the option of using MAM/PAMM accounts and have access to risk management tools and demo accounts.

 

FP Markets Pros and Cons:

✔️Pros	❌Cons
10 Base currencies	Withdrawal fees
Great products	No fixed spreads
Commission-free trading

 

IC Markets

IC Markets offers tight spreads, starting at 0.0 pips and more than 1,780 trading instruments.

This is a popular, multi-regulated ECN broker that caters to all kinds of trading, including Scalping, Day trading and retail trading.

IC Markets allows the use of Expert Advisors and provides many different trading tools, such as trading terminals and maps, session matrices, alarm managers and more.

IC Markets also offers podcasts, trading guides, webinars and instructional videos for beginners.

 

IC Markets Pros and Cons:

✔️Pros	❌Cons
Multiple accounts	Not available in USA
Secure VPS
10 base currencies

 

Vantage Markets

Vantage Markets is suitable for social traders, active traders, beginners and all other types of traders. 

Vantage Markets offers a welcome bonus of 50% and clients benefit from a referral program and an active trader rewards program.

Clients have access to smart indicators, VPS services and a variety of innovative trading tools.

 

Vantage Markets Pros and Cons:

✔️Pros	❌Cons
Highly regulated	Commission fees
Flexible accounts
Exceptional learning material

 

Saxo Bank

Saxo Bank is a fully-licensed, highly regulated platform for trading and investments, and is trusted by more than 800,000 people.

What sets this broker ahead of all others is its incredible product offering of more than 40,000 instruments, which can be traded in many different ways.

Saxo bank facilitates different styles of trading, including self-directed trading, managed portfolios, institutional trading, retail trading and more.

Saxo trader offers an innovative proprietary platform that can be used with third-party tools and offers 3 account types, VIP benefits and a rewards system.

 

Saxo Bank Pros and Cons:

✔️Pros	❌Cons
Innovative point system	High minimum deposit
Advanced tools	Not compatible with MetaTrader
Withdrawals are free	Penalty fees
Forex fees are low

Blackbull Markets

Blackbull Markets offers tight spreads, starting at 0.0 spreads, and more than 300 tradable products.

Customer support is offered 24/6 and more than 64 currency pairs can be traded with Blackbull Markets.

Blackbull Markets is an ECN broker with deep pool liquidity and uses an Equinix NY4 server.

Blackbull Markets offers 3 account types and is also suitable for clients of the Muslim faith and institutional traders.

 

Blackbull Markets Pros and Cons:

✔️Pros	❌Cons
Zero-commission accounts	No access in USA
Low spreads	No fixed spread accounts
Over 300 instruments
Excellent partnership programs

 

ACY Securities

ACY Securities was founded in 2013 as an award-winning Australian Forex broker and offers 3 types of accounts.

ACY Securities customer support is available 24 hours a day and the FAQ section of the website covers many topics and common questions.

Although the educational content on the website seems limited, this broker is suitable for beginners and premium training courses are offered to clients.

ACY Securities offers more than 1,600 tradable products and flexible payment methods, with several different base currencies supported.

 

ACY Securities Pros and Cons:

✔️Pros	❌Cons
Beginner-friendly	Not available to US clients
Good product offering

 

GO Markets

GO Markets is a regulated Forex broker that is suitable for all types of traders and provides free educational material for beginners. 

GO Markets has more than 600 tradable instruments and tight spreads, starting at 0.0 pips, with flexible leverage and 24/5 customer support.

GO Markets provides educational tutorials and guides with training courses and access to a variety of smart trading tools, such as AutoChartists, MetaTrader Genesis and more.

 

GO Markets Pros and Cons:

✔️Pros	❌Cons
Great educational content	No Islamic account
Beginner-friendly	Penalty fees
Free VPS

 

Alpari

Over 2 million people have chosen Alpari as their Forex broker and many clients have benefited from the friend-referral program.

Alpari has over 2 decades of experience in the trading industry and offers more than 250 trading instruments.

Alpari facilitates copy trading and accommodates all kinds of traders, from beginners to professionals.

 

Alpari Pros and Cons:

✔️Pros	❌Cons
Referral program	Only 4 base currencies
Supports Copy Trading	Limited instruments
Flexible accounts	Not available in Japan, Russia and USA
Massive client base

 

Pepperstone

Pepperstone is suitable for social traders and beginners and offers 3 popular trading platforms and 2 types of accounts.

Pepperstone is trusted by more than 300,000 international clients and provides educational material for untrained traders.

Pepperstone also provides a variety of trading tools, such as SMART signals, Figaro and more, and allows algorithmic and API trading.

 

Pepperstone Pros and Cons:

✔️Pros	❌Cons
Many regulations	Only one account
Good customer service	Lacking educational content
Great product portfolio
No inactivity fee

easyMarkets

easyMarkets guarantees no slippage and tight spreads, with live trading sessions offered for free and updated news and market insights.

easyMarkets offers VIP packages that come with real-time technical analyses, a personal VIP market analyst, and more.

Regular clients also have access to a variety of advanced trading tools that can be used with MetaTrader 4, TradingView and the easyMarkets proprietary platform.

easyMarkets also offers a set of unique trading tools, such as dealCancellation, where losing trades can be cancelled within 6 hours for a small fee.

Other features unique to easyMarkets are Freeze Rates and easyTrade.

 

 easyMarkets Pros and Cons:

✔️Pros	❌Cons
19 base currencies	Not available in US
Fixed spreads
Negative Balance Protection

 

Plus500

Plus500 has more than 400,00 clients and guarantees tight spreads with fast execution speeds and commission-free trading.

Plus500 is regulated under multiple jurisdictions and sponsors several international sports teams.

More than $1700 billion has been traded using Plus500 and over 82 million positions have been opened.

Although educational resources seem limited, Plus500 does provide a demo account, trading eBooks and a trader’s guide to get new traders started for the first time.

 

Plus500 Pros and Cons:

✔️Pros	❌Cons
Educational material provided	No copy trading
Negative Balance Protection	Inactivity fees
16 Account currencies
Highly regulated

 

City Index

City Index facilitates trading on more than 12,000 international markets, offering more than 4,500 shares, 84 Forex pairs and more.

City Index has designed its own platform and has been awarded for delivering an exceptional alternative to MetaTrader, cTrader and most major platforms.

The City Index app offers more than 65 technical indicators, multiple chart types, drawing tools and much more.

City Index is listed on NASDAQ and has been around for more than 3 decades.

This is a beginner-friendly broker and platform that offers a demo account and a variety of tutorials and videos to help new traders.

 

City Index Pros and Cons:

✔️Pros	❌Cons
Listed on NASDAQ	Penalty fees
Great portfolio	High stock CFD fees
Deposits and withdrawals at no cost	Only one account type
Part of StoneX

 

Eightcap

Eightcap is a leading MetaTrader Forex and CFD broker and offers more than 500 tradable instruments.

Eightcap guarantees deep liquidity, tight spreads (starting at 0.0 pips) and complete transparency with pricing.

Eightcap offers personalised accounts with reliable customer support and secure payment methods.

Eightcap also provides trading tutorials and guides and a variety of other educational resources for beginners.

Eightcap was launched in 2009 and has received several awards since then, having been rated the best Forex MT4 broker in 2020.

 

Eightcap Pros and Cons:

✔️Pros	❌Cons
Compatible with MetaTrader	Limited portfolio
Low spreads	High commission fees on some accounts
7 base currencies
Supports trading with EAs

 

Tickmill

Tickmill is a highly regulated Forex broker that offers 3 account types and flexible payment methods.

Tickmill guarantees low-cost trading and tight spreads, starting at 0.0 pips, and all accounts qualify for swaps to Islamic accounts.

Tickmill is currently running several promotions, offering a $30 welcome bonus, trader of the month awards and the option to get paid for trading.

Beginners have access to a variety of educational materials and more experienced traders can use many different trading tools, including Myfxbook, AutoChartist and more, and an advanced trading toolkit is also provided.

 

Tickmill Pros and Cons:

✔️Pros	❌Cons
Negative Balance Protection	Not available in US
Autochartist and FIX API provided	No fixed spread accounts
Commission-free trading	No crypto
Highly regulated
Flexible accounts

 

Conclusion

Regardless of your level of trading experience, it’s always a good idea to choose a broker that can be trusted and offers a variety of educational materials so that you can refine your trading skills and brush up on trading terms – you might just learn something new in the process if you’ve been in the game for a while!

Whether you are an Australian citizen or you prefer funding your account with AUD, choosing one of the 15 Best Australian Forex Brokers will ensure that you have an enjoyable, safe trading experience.

Good luck with your trading!

 

Disclaimer

Remember, 75% of retail investors lose money when trading CFDs and there is a high risk of losing your capital in the forex markets.

The information on this website is in no way intended to be used as financial advice and opening an account with any broker is done at your own discretion and risk.