ASIC is responsible for promoting a fair, transparent and efficient financial system for all. We have conducted many hours of thorough research and analysis into the quality of service provided by hundreds of Australian forex brokers.

This enables us to collate what we consider to be amongst the most important things to look for in a broker and allocate them an unbiased rating based on our findings. That being said, you can see a selection of our best forex brokers in Australia below. The most important factor for us to consider when choosing our best Australian forex brokers is that they are regulated by ASIC to provide forex trading products and services.

Any forex broker that is offering services to traders in Australia should be authorised and regulated. Using an ASIC regulated forex broker can give investors some protection that unregulated brokers cannot. I would always prefer to use a regulated broker as it gives me the peace of mind that they will be operating in an open and honest manner at all times.

This is because they need to follow rules and procedures implemented by the respective regulators. It is worth mentioning that there are some non-Australian forex brokers that still solicit clients located within Australia. There are also Australian brokers who offer online forex trading services to clients located in some countries outside of the Australia.

In this instance, it would be a considered a sensible idea to ensure that the broker in question has the relevant regulation within the jurisdiction that they operate from. To make it into our list of the best forex brokers in Australia, each broker has to be authorised and regulated by the Australian Securities and Investments Commission ASIC.

ASIC reports to the treasurer and administers legislation for the Insurance Act of , the Corporations Act of , and the National Consumer Credit Protection Act of If a broker has been licensed by ASIC, they should be provided with a registration number as proof that they are registered.

This number is usually located on the brokers website, near the footer where they state who they are regulated by. You should check on the ASIC website to validate the current status of the broker registration to ensure that it is valid and up to date. It has been known for some scam brokers to fake regulation, some even going as far to clone another brokers website. When you are looking up the registration number, you should find details of the brokerage firm including their website, contact details and if they have any cases brought against them.

The brokers should have a variety of different forex trading platforms for multiple devices including desktop, web and mobile forex trading apps.

The trading platforms should be user friendly, with plenty of trading tools and advanced functionality for all types of forex strategies. I like it when a platform is easy to navigate and can be fully customised to be as simplistic or complex as you need it to be.

You will find that there are lots of MetaTrader brokers which is one of the most user-friendly platforms that gives convenient access to the forex market for both manual and automated trading strategies. The brokers should provide Australian forex traders and investors with a wide range of currency pairs including major, minor and exotic crosses.

You should also look for any other trading instruments across other asset classes including Commodities , Cryptocurrency , Stocks , Indices , Options , ETFs , CFDs and Futures. The more choice that the broker has, the easier it would be to expand your portfolio in the future, should you wish to do so.

When you place a trade position with a forex broker, you will usually need to pay the spread which is the difference between the bid and ask prices at the time of executing your order. In general, the lower the spreads, the cheaper the trading costs can be and the better the prices you may have your trade executed at.

Although, this can also be dependent on other factors such as the brokers liquidity, slippage and execution model. Many Australian forex brokers will charge a small commission fee for each trade that you place with them. The lower the commission fee per trade, the lower your overall trading costs can be in the long term.

Some trading strategies actually depend on low commissions. Thus, the best forex brokers in Australia should have the most competitive commissions. In addition to the spreads and commissions that brokers may charge, there can be additional fees. These include overnight swap fees, funding fees, platform fees, trading tool fees, educational resource fees, etc. Bombay Stock Exchange. New Zealand Stock Exchange. Nigerian Stock Exchange.

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You might also like. JP Markets Sign Up Bonus JP Markets offers a welcome bonus to all new traders who choose to register for a real account. JP MARKETS Review JP Markets is considered a low-risk and can be summarized as trustworthy and reliable. IWBank Review Overall IW Bank offers numerous investment prospects for their clients, and allows them to invest in equities and bonds. com Sign Up Bonus TRADE. com Minimum Deposit Trade. com Fees and Spreads TRADE.

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What is CFD Trading Best Regulated CFD Brokers Menu. How to Invest Money What to Invest In How to Invest in Index Funds How to Invest in ETFs Menu. Indices Chart Stock Chart Forex Charts Cryptocurrency Chart ICO Calendar Menu. Best brokers list FP Markets BlackBull Markets FXTM Eightcap AvaTrade Is Forex Trading Legal in Australia? Here are some core trading aspects traders should seek from their Australian Forex broker: Tips for Forex Trading in Australia Understanding the Australian Forex Market Australian Forex Market Regulation ASIC Regulation How Does a Regulated Market Benefit You?

How to Verify Your Broker is ASIC Regulated? How to Choose a Forex Broker as an Aussie Trader Tax on Forex Trading Australia Forex Trading in Melbourne Forex Trading in Sydney Best Time to Trade Forex in Australia Methodology The eleven criteria used in our research consist of: FAQs. Home Forex Brokers Types Best Forex Broker 5 Best Forex Brokers Australia [month,year] - Forex Trading Australia Best Forex Trading Platform Australian.

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Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Huzefa Hamid. Updated on July 04, Get Started. The ratings shown on DailyForex. Read more on FP Markets. Read more on BlackBull Markets. Read more on FXTM.

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How to Invest Money How to Invest in ETFs How to Invest in Index Funds How to start Forex Trading How to Pick Shares How to Report a Forex Broker How to be Consistent in Forex. The Top 10 Best Forex Brokers in Australia revealed. We have rated and reviewed the best Forex Brokers accepting Australian Traders. This is a complete listing of The 10 Best Forex Brokers in Australia.

In this in-depth write-up you will learn:. The Australian Securities and Investments Commission ASIC is an independent government body that consists of a chairperson and commission members.

Overall, XM. com is considered a trustworthy broker with average risk with spreads as low as 0. XM Group is not a publicly-traded company but is authorized by two tier-1 regulators high trust. Rated 68 of Recommended FX Brokers.

Minimum Deposit. Islamic Account. Trading Fees. Overall, AvaTrade is considered a low-risk and can be summarized as a trustworthy forex broker. Regarding spread and security, AvaTrade guarantees fast trading speeds and secure trading conditions. In terms of users , AvaTrade has more than registered clients globally. Rated 1 of Recommended FX Brokers. Overall, eToro can be summarized as a credible and trustworthy broker and is considered low-risk with competitive trading fees and spreads.

Etoro has an overall trust score of 91 out of eToro offers a world-class social trading platform with immediate order execution. Rated 20 of Recommended FX Brokers. Overall, XTB can be summarized as a trustworthy broker with a reputable reputation that provides Contracts for Difference CFDs and trading facilities on shares, forex, commodities, cryptocurrencies , ETFs, options, indices, and user-friendly trading conditions to a global market.

Rated 69 of Recommended FX Brokers. IG Group can be summarized as a trustworthy broker that provides user-friendly trading conditions and quality educational material. It can be considered a low-risk option that is an excellent fit for pro traders.

Rated 38 of Recommended FX Brokers. IG Group. Overall, CMC Markets can be summarized as a trustworthy broker that provides Contracts for Difference CFDs and low spreads. It is regulated by five tier-1 regulators high trust and one tier-2 regulator average trust.

It has a trust score of 99 out of Rated of Recommended FX Brokers. Plus is a tier 1 regulated forex and CFD broker that offers low trading and commission fees.

Overall Rating. Rated 55 of Recommended FX Brokers. Yes Availability subject to regulations. Overall, FXTM can be summarized as a trustworthy broker that provides Contracts for Difference CFDs and trading facilities on shares, forex, commodities, cryptocurrencies, ETFs, options, and indices to a global market.

Rated 32 of Recommended FX Brokers. It is regulated by one tier-1 regulator highest trust and three tier-2 regulators medium trust. Rated 6 out of 66 Recommended FX Brokers. Overall, OctaFX can be summarised as a trustworthy and worthwhile broker with a trust score of 90 out of OctaFX is very competitive in terms of its trading fees, with low spreads rounding off its offerings. Rated 8 of Recommended FX Brokers. Traders need to understand and remember that CFDs are leveraged, complex products that may be accompanied by the risk of incurring losses that may exceed the initial deposit of the trader.

Traders need to ensure that they understand their risk exposure and determine whether the risk involved is suited to them before making trading decisions that could result in loss of capital. According to research, XM is the most popular broker choice in Australia. The rough estimate is approximately active Australian traders per month.

Copyright © Forex Suggest. Got a position to try? Swap-Free Forex Brokers Social Trading Automated Trading Best Forex Demo Accounts Best Forex Trading Apps Forex Screener Menu. Necessary Necessary. We aim to help you find the best broker according to your own needs. The brokers should provide Australian forex traders and investors with a wide range of currency pairs including major, minor and exotic crosses.

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