Top 10 Largest Forex Brokers Australia 2020

Filippo Last Updated: February 2019 5 min read
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Bigger brokers mean more people are trading, which is a good sign that you have found a trustworthy broker.

Larger brokers can also offer traders a wealth of other benefits too. They can offer access to more diverse markets and more instruments, which can help you diversify your portfolio.

Some of the largest forex brokers in Australia offer some of the best services available today and are definitely worth your time researching. Their services are also more likely to be innovative and they are more likely to have partnerships with larger banks, which means greater liquidity.

It also means they are professional enough to stand the test of time and are less likely to collapse out of the blue.

Plus, those that are interested in copy trading can also benefit immensely from a large broker that offers such services as it means there are more traders to copy.

(This post is part of the forex Australian brokers series)

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    Top 10 of the Largest Forex Brokers in Australia for 2020

    Here are the biggest forex brokers in Australia.

    Open an account
    76.5% of retail investor accounts lose money

    1 Pepperstone

    Pepperstone is without a doubt the largest Australian broker today and its reputation is global, attracting plenty of foreign traders as well as Australians themselves. Part of the reason why Pepperstone has been so successful is down to their trusty reputation and top-rated ECN and STP accounts. Pepperstone also offers clients over 70 currency pairs and 14 major stock indices to trade from, which is an excellent variety. In 2018, they were also rewarded ‘Best Forex ECN Broker’ by the UK Forex Awards, another fine achievement that has helped them win over even more clients.

    95
    Rated: Excellent
    security 94
    cost 100
    trading 100
    education 71

    Platforms: cTrader desktop, cTrader web, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, ASIC, DFSA Minimum Deposit: $200
    Open an account
    74-89 % of retail CFD accounts lose money

    2 IC Markets

    IC Markets offers traders a huge number of 232 tradable instruments, 60 of which are forex pairs, which is very impressive. They also boast handling 500,000 trades per day which in total is worth more than 15 billion. The reputation of IC Markets is also built on their renowned ECN service, crediting themselves as ‘the world’s largest true ECN forex broker’, with liquidity provided by numerous market participants including high-level banks and darkpools, which ensure traders get the best access to the market.

    94
    Rated: Excellent
    security 93
    cost 100
    trading 100
    education 66

    Platforms: cTrader desktop, cTrader web, Mirror Trader, ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web Regulations: ASIC, CYSEC, Offshore Minimum Deposit: $0
    Open an account
    72.88% of retail CFD accounts lose money

    3 Thinkmarkets

    Founded in 2010, ThinkMarkets offers an impressive range of services and instruments. Currently, traders have access to 154 CFDs, 33 currency pairs and cryptocurrency CFDs, which is perfect for those that wish to expand their portfolio. ThinkMarkets also keeps clients’ funds safe by placing them in a segregated account with a top-tier bank.

    82
    Rated: Excellent
    security 94
    cost 77
    trading 73
    education 80

    Platforms: Mirror Trader, MT4 Dekstop, MT4 Web, Proprietary Desktop Platform, Proprietary Web Platform, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC Minimum Deposit: $250
    Open an account
    74-89% of retail CFD accounts lose money

    4 Vantage FX

    By forming partnerships with heavy-weight banks such as JPMorgan, HSBC, RBS, and Goldman Sachs, Vantage FX has garnered a loyal following of traders. They also have an excellent range of 120 instruments to trade with, including currency pairs, indices, commodities, and share CFDs. On top of that, their service also operates on 15 different platforms. Vantage FX was also voted best ECN/STP broker 2015-16 by the Forex Awards.

    83
    Rated: Excellent
    security 92
    cost 100
    trading 72
    education 57

    Platforms: ZuluTrade, MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, Offshore Minimum Deposit: $200
    Open an account
    69.6% of retail investor accounts lose money

    5 AxiTrader

    AxiTrader is truly democratic in the way it treats its traders, giving them the same ECN access as banks, hedge funds, and other financial institutions, which is incredibly rare. AxiTrader has grown remarkably fast since its foundation in 2007, offering traders over 80 products to trade, and winning a variety of awards, including ‘Most Reliable Forex Broker’ by AtoZForex.com in 2017.

    81
    Rated: Excellent
    security 93
    cost 79
    trading 73
    education 71

    Platforms: ZuluTrade, MAC Platforms Regulations: FCA, MIFID-ESMA, ASIC, FMA, DFSA Minimum Deposit: $0
    Open an account
    75% of retail investor accounts lose money

    6 EasyMarkets

    Established in 2001, easyMarkets now has been operating smoothly for 17 years. Not only are they considered one of the best brokers in Australia, but also in the whole APAC region winning ‘Best APAC Region Broker 2018’ by ADVFN International Financial Awards. Currently, they boast an extensive number of instruments and markets to invest in, claiming to have: “136 spot currency pairs, 48 FX forwards, 57 currencies crossed with metals, 5 metals, 6 energy and 7 agricultural commodities, 16 equity indices, and 58 vanilla option pairs”.

    83
    Rated: Excellent
    security 92
    cost 100
    trading 68
    education 65

    Platforms: Proprietary Web Platform Regulations: MIFID-ESMA, ASIC, CYSEC Minimum Deposit: $100
    Open an account
    76% of retail CFD accounts lose money

    7 IG Markets

    Those that know IG know that they’ve been involved in forex for a very long time, starting out back in 1974, way before any of their competitors. And during that time, IG has accumulated a whopping 195,000 clients worldwide and access to over 16,000 markets, two facts they are very proud of decorating around their website. IG are also known for their innovative trading approach, combining DMA with other pricing technology in an attempt to give traders the best price possible at the time they are trading.

    90
    Rated: Excellent
    security 97
    cost 64
    trading 100
    education 84

    Platforms: MT4 Dekstop, MT4 Web, Proprietary Web Platform, MAC Platforms Regulations: FSA, MAS, FINMA, FCA, CFTC, MIFID-ESMA, ASIC, FMA, FSB, DFSA Minimum Deposit: £250

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