Top 10 Best Forex Brokers in Australia for 2020

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.

The minimum deposit here is of good value to all traders at 200 AUD and the broker is of course, ASIC regulated. Pepperstone leverage is available up to 500:1 and spreads are also very attractive, starting from 0 pips. The active trader program from the broker also rewards trading and helps reduce your trading costs.

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. They are also very well-trusted with ASIC regulation firmly in place.

The fact that IC Markets do not have a minimum deposit requirement is something that very much helps in attracting new traders and has seen their reputation as a top broker for forex trading grow. The very low spread starting at 0.1 pips combined with lightning order execution have also bolstered this reputation. As with many Australian brokers, leverage of up to 500:1 is available and opens many trading possibilities.

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. Of these 5 continents, the one which Australian traders want to see, ASIC, is also in place.This regulation allows some leniency comparable to the likes of CySEC so Avatrade offers great leverage of as much as 400:1 to Australian traders.

The low 100 AUD minimum deposit of Avatrade is also welcomed by many and keeps trading accessible to all. They are also a popular choice for forex traders who want to trade with fixed spreads. These spreads start from 1.3 pips on forex trading.

The next top Australian broker to make the listing is FP Markets. They hold a strong position in a very competitive Australian forex broker market and are well favored by those who want to select an ECN STP forex broker. This market maker broker is again very comprehensively regulated by ASIC and boasts many points of attraction for traders. Among these is the fact they have been in business since 2005.

Beyond that, the very low spreads that FP Markets offer, starting from as little as 0 pips has also bolstered their position. Traders can also avail of the major trading platforms MT4, MT5, Webtrader, and IRESS. All of this is available for an excellent value minimum deposit of 100 AUD and leverage generously extends up to 500:1. This flexibility has been key in keeping FP Markets at the top of the industry for many years.

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 achieved a great deal of global recognition for its professionalism. This is all backed by the full regulation of ASIC. The broker also goes the extra step of providing negative balance protection as well.

On trading, you can get started with just 200 AUD as a minimum deposit and have your pick of trading in more than 150 markets including a huge 120 forex pairs and a wide range of others where up to 400:1 leverage is available. EasyMarkets have something for all traders and a very low spread starting from 0.9 pips.

VantageFX is next to feature on our list of top Australian forex brokers. Having been around the industry for more than a decade since founding in 2009, they are now well-versed on everything needed to be a top broker. They have not overlooked the key area of regulation, being regulated by ASIC as well as the FCA and CIMA around the world, they really are a trusted choice.

Trading with VantageFX, you will find a broker that you can access for a minimum deposit of 200 AUD and that provides a huge leverage of as much as 500:1 on trading in more than 150 markets. This trading offer really suits everyone, with 40 forex currency pairs available to select and a highly competitive spread that starts from 0 pips. As a VantageFX trader you will also benefit from fast ECN trading through both MT4, and MT5.

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 which means they are well-regulated by ASIC.

Traders are often attracted here with the no minimum deposit on offer. The great spreads starting from just 0.3 pips on forex are also very appealing. Both new and experienced traders can also benefit from extensive free research tools available including webinars. Trading here takes place through MT4 or Ninjatrader.

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. This complies with the ASIC regulations they have in place.

You can start trading here with a 250 AUD minimum deposit and take advantage of the very low spreads starting at 0.4 pips through MT4 or their own platform on a host of markets. Spread betting on almost all markets is also available and a high leverage of up to 500:1 is catered for at ThinkMarkets.

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 through their base in Sydney. The minimum deposit for this market maker broker is a very appealing point for many, at just 50 AUD it opens trading to all.

This trading and the positive broker reputation that has grown is further bolstered by the availability of up to 400:1 leverage and very tight spreads starting from 0.9 pips making sure trading costs stay competitive all round. MT4, Ninjatrader, and the brokers own trading platform are offered providing a great range of trading choices.

Also making our selection of top Australian forex brokers is Hantec Markets. They have been around for more than a decade, growing steadily in size and reputation since being founded in Sydney in 2008. They have been and are still fully regulated by ASIC inspiring a strong trust from traders. The 50 AUD low minimum deposit is a good point of positivity for traders looking to get started on a budget. Once you are inside and trading you will also not be disappointed by the range of choices. This includes availability in trading more than 100 markets with no less than 50 being forex pairs.

The spread too provides fantastic value starting at only 0.2pip and a leverage of as much as 500:1 provides plenty of scope to go deep into big trades. All of these trades take place through the trusted MT4 or Webtrader.