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Best Forex Brokers in Australia

Australia has one of the highest standards of regulations and a great trading environment. Australian Securities and Investments Commission (ASIC) is a tier 1 regulation that oversees many international brokers. The following are some of the best brokers you can start trading with in Australia.

Order by
91FreshForexBonus15% deposit bonusBest For Trading Without Min DepositMin deposit $10Max leverage 1:2000Regulated by NoAdd to compare listRating 3.3 / 5Start trading
Pros, cons & fees
Specialized trading accountsFree VPS hostingRead review
Pros

  • Multiple Trading Platforms: Fresh Forex offers traders the popular MetaTrader 4 and 5 platforms on desktop, web, and mobile devices.

  • Wide Range of Assets: Traders have access to a variety of assets, including forex, commodities, indices, and cryptocurrencies.

  • Competitive Spreads: Fresh Forex offers competitive spreads starting from as low as 0.1 pips for major forex pairs.

Cons

  • Limited Customer Support: Fresh Forex only offers customer support from Monday till Friday 24/5, which may be inconvenient for traders who have questions on weekends.

  • No US and Canada Clients: Fresh Forex does not accept clients from the United States, limiting its reach to traders from these regions.

  • Commission on CFD Trades: Fresh Forex charges a commission on CFD trades, which can increase trading costs.

Withdrawal fee $0Deposit fee $0
92ForexEE0.3-Pip EUR/USD SpreadMin deposit $50Max leverage 500Regulated by NoAdd to compare listRating 3.3 / 5Start trading
Pros, cons & fees
Islamic AccountMultiple Account TypesHigh LeverageRead review
Pros

  • Regulated for the safety of funds.

  • Flexible leverage up to 1: 1000 for potential profits.

  • Wide range of assets including currency pairs, metals, energies, and indices.

Cons

  • Limited educational resources for beginners.

  • The high minimum deposit for certain account types.

  • Limited trading restrictions.

Withdrawal fee $0Deposit fee $0
93MauntoMultiple Account TypeMin deposit 250$Max leverage 1:400Regulated by NoAdd to compare listRating 4.4 / 5Start trading
Pros, cons & fees
Robust Customer SupportMultiple Account TypeRead review
Pros

  • Offers multiple account types to cater to different trading preferences.

  • Implements negative balance protection, safeguarding traders from losses exceeding their account balance.

  • Provides an excellent range of instruments, including Forex, indices, metals, stocks, cryptocurrencies, and commodities.

Cons

  • Restricted regional availability may limit access for traders from certain regions.

  • The lack of MT4 and MT5 trading platforms may disappoint traders accustomed to these popular platforms.

  • According to few reviews, the withdrawal process can be lengthy, taking 8-10 business days, which may inconvenience traders needing prompt access to their funds.

Withdrawal fee 3.5% / 30$Deposit fee No
94AXWELMultilingual Customer ServiceMin deposit $250Max leverage 1:200Regulated by MISAAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
Specialized trading accountsRead review
Pros

  • Multiple CFD Asset Classes Available: The broker offers tradeable assets across forex, metals, cryptocurrencies, stocks, indices, and commodities, allowing traders to diversify easily.

  • Three Clear Account Types: The broker provides Silver, Gold, and Platinum accounts, each designed for different experience levels.

  • Consistent Leverage Across Accounts: All account types offer leverage up to 1:200, giving traders flexibility regardless of their account level.

Cons

  • No MetaTrader 4/5 Available: AXWEL does not offer MetaTrader 4 or 5 trading platforms.

  • No Tier-1 Regulations: The company lacks a tier-1 regulator.

  • No Islamic Swap-Free Accounts Offered: There is no confirmed information about Islamic swap-free account options.

95GO Markets Investor protectionBonusVolume Rebate Program by GO MarketsGreat Customer ServiceMin deposit $0Max leverage 1:500Regulated by FSC, ASIC, CySEC +2Add to compare listRating 4.1 / 5Start trading
Pros, cons & fees
24/6 Multilingual SupportAffiliate ProgramTier-1 RegulationsRead review
Pros

  • Highly Regulated Broker: GO Markets is licensed by ASIC (Australia), CySEC (Cyprus), FSC (Mauritius), and FSA (Seychelles).

  • Extensive Range of Tradable Assets: The broker offers 600+ instruments, such as forex, indices, commodities, metals, cryptocurrencies, and CFDs on global stocks.

  • Multiple Trading Platforms: Unlike most brokers who merely support MT4 or MT5, GO Markets provides cTrader, TradingView, and WebTrader as well.

Cons

  • No Fixed-Spread Accounts: All accounts are variable spread, which might not suit traders who prefer the stability of fixed spreads.

  • Regional Restrictions: Clients from certain countries, including the US and Canada, cannot open accounts due to regulatory limitations.

  • No Islamic or Swap-Free Accounts: Go Markets does not offer Islamic or Swap-Free accounts unlike many popular brokerages.

96Solus FinanceBonusRefer a Friend & Earn with SolusFinance24/7 Trading CompetitionsRegulated by NoAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
24/7 Trading CompetitionsRead review
Pros

  • Gamified Trading: Solus gamifies the complex trading experience which is great for new traders with limited complex trading knowledge.

  • Proprietary Mobile App (Android): The company has a proprietary mobile trading app available on PlayStore.

  • Multiple Online Payment Options: Traders (or players) can fund their accounts via Crypto, PayPal, Volet, and Cryptic.

Cons

  • Unclear Regulatory Framework: ITU Financial Services Inc. is registered in Delaware, US but not as a financial services provider. According to the company, they do not identify as a brokerage and therefore do not need to be regulated.

  • No Visa or Mastercard Payment Options: The company does not accept Visa or Mastercard payment options.

  • No iOS App: Solus lacks an iOS mobile app. Currently, the app is only available for Android devices and all mobile devices through mobile web.

Our ranking methodology and selection process