Top 10 Best Forex Brokers in Australia for 2020
Are you looking for the Best Forex Brokers in Australia to start trading with one major forex broker regulated and with and headquarter in a reputable country like Australia?
Good choice.
Australians love Forex trading, and local laws ensure a fair trading environment, making the best forex brokers in Australia popular choices for global traders. There’s also no concern of falling afoul of local laws elsewhere in the world, since these firms are careful not to offer their services where there are regulatory barriers to trading.
We take a look at the ten top forex brokers in Australia, a country that is lucky enough to have two of the best brokers in the world today. However, it has to be said that regulated forex brokers in Australia enjoy an excellent reputation, so we’ve extended our list to include a further eight worthy brokerage companies.
How We Decide Our Top Ten
As a person who loves analysing facts and figures, you’re probably wondering how we decided on our top ten best forex brokers in Australia. To decide who is most worthy of our attention as a top forex trading company, we look at industry-based awards. So, when the smartest forex-trading minds in the world get together to decide the best of the best, who’s on their list?
You’ll also notice that not all the companies we selected are headquartered in Australia. However, all of them do have an Australian presence and are, therefore, compliant with the legislation governing financial service providers. Operating licenses are part of compliance, and you may safely assume that all compliant brokers are, by definition, also licensed.
(This post is part of the best Forex Brokers series)
Top 10 of the Best Forex Brokers in Australia for 2020
Here’s our ranking of the best online forex brokers in Australia:
1. Pepperstone
Established in 2010, Pepperstone is already a highly-regarded Forex broker. In fact, by 2014, the company which was launched by a self-confessed Aussie farm boy with a penchant for tech and a good idea was already the 11th biggest forex trading brokerage in the world. This award-winning company is based in Australia and offers an attractive suite of trading options to its clients. Forex trading is the basis from which these options sprung, and no best forex broker in Australia list should be without Pepperstone.
- Regulations: Pepperstone Limited authorised & regulated by the FCA (684312); Pepperstone Group Limited registered with ASIC (414530). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: ECN, Market Maker
- Leverage: 500:1 ASIC; 30:1 FCA
- Minimum Deposit: $ 200
- Platforms: MT4 (desktop, iPhone/iPad, Android), MT5 (desktop), cTrader (web platform, cAlgo, cTrader mobile)
- Headquarters: Pepperstone Group Limited is headquartered in Melbourne, Australia
- US Customers: No
- Other instruments: CFDs on indices, commodities, cryptocurrency
2. IC Markets
IC Markets is based in Sydney and is considered to be among the largest forex brokerage companies in the world. It is certainly among the most popular Forex brokers in Australia and the Far East. IC Markets focuses on ECN brokerage and, as with the other brokers on this list, will only serve clients in countries where its services are legal.
- Regulations: International Capital Markets Pty Ltd. licensed by ASIC (AFSL no. 335692). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: Market Maker, ECN, STP
- Leverage: 1:500
- Minimum Deposit: $ 200
- Platforms: MT4, MT5, MT WebTrader, MT iPhone/iPad, MT Android, MT Mac, cTrader, cTrader Web, cTrader Android, cTrader iPhone/iPad, cTrader cAlgo
- Headquarters: International Capital Markets Pty Ltd. is headquartered in Sydney, Australia
- US Customers: No
- Other instruments: CFDs on indices, commodities, stocks, futures, bonds, cryptocurrency
3. Avatrade
Although Avatrade’s headquarters are in Dublin, Ireland, it also has offices in Sydney as well as several other major centres around the world. Avatrade supports smaller trades but is also popular with larger traders too. The company is proud of the fact that it is compliant with regulations in five continents – an achievement that few brokers can boast.
- Regulations: AVA Trade EU Ltd regulated by the Central Bank of Ireland (No.C53877); AVA Trade Ltd regulated by the V.I Financial Services Commission; Ava Capital Markets Australia Pty Ltd regulated by ASIC (No.406684); Ava Capital Markets Pty regulated by the South African Financial Sector Conduct Authority (FSCA No.45984); Ava Trade Japan K.K. regulated by the FSA (No.1662) and the FFAJ (No.1574). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: Market Maker
- Leverage: 1:30
- Minimum Deposit: AUD $ 100, USD $ 100, £ 100, or € 100
- Platforms: AvaTradeGo (mobile app), MT4, Mac Trading (specifically for Macs), Webtrader
- Headquarters: AVA Trade EU Ltd is headquartered in Dublin, Republic of Ireland
- US Customers: No
- Other instruments: CFDs on indices, stocks, cryptocurrencies, commodities, options, ETFs
4. EasyMarkets
Like our preceding selections, easyMarkets is a multiple award winner. Its most recent award at time of writing was in 2018 when it won the “Most Innovative Broker” title. The company’s remarkably high Trustpilot rating tells its own story and is prominently featured on its website. Easy Markets has earned a position of trust in the marketplace, and has a achieved a great deal of global recognition for its professionalism.
- Regulations: In Australia by ASIC and in Cyprus by CySEC
- Type: Market Maker
- Leverage: 1:400
- Minimum Deposit: $100
- Platforms: Proprietary, Mobile, MT4
- Headquarters: Limassol, Cyprus
- US Customers: No
- Other instruments: CFD on commodities, indices, cryptocurrency
5. AxiTrader
The top 10 forex brokers in Australia are award-winners and Axitrader is no exception. The company was founded in Australia and is still headquartered there. This broker’s biggest selling-point is that it was designed by traders for traders. Formerly AxisForex, the company has been trading since 2008, and is reported to have a monthly volume of approximately $100 million.
- Regulations: AxiTrader UK is authorised & regulated by the FCA (509746); AxiCorp Financial Services Pty Ltd is authorised & regulated by ASIC (318232). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: ECN, Market Maker
- Leverage: 1:400
- Minimum Deposit: $ 200
- Platforms: MT4 (PC and Mac, webtrader, mobile), MT4 NexGen
- Headquarters: AxiCorp Limited is headquartered in London, UK
- US Customers: Accepts US clients through its American subsidiary, AxiTrader USA. Bear in mind the services offered may not be the same
- Other instruments: Spread betting; CFDs on commodities, gold, silver and metals, oil, indices, Bitcoin
6. Synergy FX
When it comes to top forex brokers, Australia has more than its fair share, and Sydney-based Synergy FX deserves its place in any top ten ranking. The company says its primary advantages are its customer service and learning resources. However, it should be noted that all the top brokers do pride themselves in providing both general and customized information.
- Regulations: In Australia by ASIC
- Type: ECN
- Leverage: 1:500
- Minimum Deposit: $100
- Platforms: MT4, Social Trading
- Headquarters: Sydney, Australia
- US Customers: No
- Other instruments: Indices, commodities, metals, cryptocurrency
7. GoMarkets
Also known as Go Markets and GO markets the formatting of the name is of less importance than the service offered. The company ticks all the boxes we used to formulate this list including regulatory compliance and a strong reputation within the industry. It is best known as a forex trading broker, but also offers binary options trading.
- Regulations: In Australia by ASIC
- Type: STP
- Leverage: Up to 1:500
- Minimum Deposit: $200 AUD for a standard account
- Headquarters: Melbourne, Australia
- US Customers: No
- Other instruments: Commodities, indices, metals, binaries, cryptocurrency
- Try GO Markets with a demo account (CFD Service. 74-89% lose money)
8. FXCM
Despite a relatively rocky history, FXCM has recovered, and is now among the service providers compliant with Australian legislation that can be featured on a top 10 forex brokers, Australia list. The company was founded in New York and is now based in London. However, it has a presence in Australia and, as such, operates within the boundaries of legal compliance set out by the ASIC.
- Regulations: In Australia by ASIC, in the UK by the FCA, in France by the AMF, and in Canada by the IIROC
- Type: Market maker
- Leverage: Up to 1:400
- Minimum Deposit: $50 USD
- Headquarters: Sydney, Australia, and London, UK
- US Customers: No
- Other instruments: Indices, commodities, cryptocurrency CFDs
- Try FXCM with a demo account (CFD Service. 74-89% lose money)
9. CMC Markets
If you’re a fan of pioneers, CMC Markets will be among the top forex brokers Australia you’d be considering as a trading intermediary. The firm has been around since 1989, has a consistently good reputation, and claims to be the first company to perform online currency trades. It’s interesting to note that Goldman-Sachs owns shares in this company. However, despite a head start on its competitors and its own trading platform, it is believed not to hold as large a market share as some of its competitors. CMC Markets is based in London but has an Australian presence.
- Regulations: CMC Markets UK plc authorised & regulated by the FCA (173730); CMC Spreadbet plc authorised & regulated by the FCA (170627); CMC Markets Asia Pacific Pty Ltd licenced by ASIC (238054); CMC Markets Stockbroking Limited licensed by ASIC (246381); CMC Markets NZ Limited is registered with the New Zealand Financial services provider (41187); CMC Markets Singapore Pte Ltd licensed by MAS. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
- Type: Market Maker
- Leverage: 1:500
- Minimum Deposit: $ 200
- Platforms: Next Generation Platform, MT4, Stockbroking Standard Platform, Stockbrokering Pro Platform
- Headquarters: CMC Markets UK plc is headquartered in London, UK
- US Customers: No
- Other instruments: CFDs on indices, commodities, shares, treasuries, cryptocurrency; spread betting
10. ThinkMarkets
ThinkMarkets is a home-grown Australian company, but it’s said to be hugely popular with Asian traders too. With an impressive roll of awards to its name, the company has also added its own trading platform, ThinkTrader, to the list of its achievements. Like any reliable broker, the company does not offer its services in jurisdictions where its categories of trading are not accepted by the authorities.
- Regulations: In Australia by ASIC and in the UK by the FCA
- Type: STP
- Leverage: 1:400
- Minimum Deposit: $250
- Platforms: MT4, Trade Interceptor
- Headquarters: Melbourne, Australia and London, UK
- US Customers: No
- Other instruments: CFD on shares, indices, metals, energies, cryptocurrency
Want to know more about the best Australian forex brokers?
This is the main list of the best Australian brokers in circulation today. But we didn’t stop here.
Are you looking for something more particular?
Do you need a broker based in Australia with some specific features?
Here are all our rankings:
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