Find the best Forex broker for you

ASIC stands for Australian Securities and Investments Commission, which is a financial services regulator. All brokers that have an ASIC license are considered to be a lot safer, than unregulated ones. Go Markets is an Australian based broken that began welcoming traders in 2006. The broker has a valid license from the Australian Financial Services, having a ASIC regulation.
AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. AvaTrade is particularly well known for its forex trading options, with a huge range of currency pairs available, but it also offers cryptocurrencies, shares, ETFs, indices, commodities, and bonds. You can even trade options via the AvaOptions online trading platform. CFD Trading Australia Another reason the company is so suitable for the fledgling trader in particular is the fact it has a very low entry cost – opening an account with FBS requires as little as AUD 50 to start up. Of course, if you would rather stick to educating yourself and not risk any real money yet, there are demo accounts available with the firm. We suggest getting one and trying out what the firm offers before committing to trading.
All other asset classes can be traded commission-free, albeit, your fees are built into the spread. In terms of fees, the pricing structure at Interactive Brokers can be a bit confusing at first glance. Not only will your commission depend on the asset you wish to trade, but also the account type you are on. With that said, Interactive Brokers does allow you to buy US-listed stocks and ETFs on a commission-free basis. If you like the sound of this top-rated Australian share trading platform, you can open an account in minutes.

Eightcap has an excellent MT5 broker offering to combine tight spreads, fast execution speeds, and advanced trading features with a wide range of forex and CFD markets. Their trading app experience is excellent as is their Australian-based customer support leading us to recommend their MT5 app over the other popular brokers. The trading platforms each australian forex broker provides, including their features, ease of use, and compatibility with your devices. The top forex brokers for beginners offer excellent educational resources, a low minimum deposit, a free demo account, and reliable support to assist rookie currency traders. IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support.
From there, we found a distinguishing feature of each broker, such as trading costs or range of products, which the trader could benefit from. Ultimately, this list is designed to suit traders of all levels of experience and trading styles looking for the best leverage in a broker. Like the best forex brokers we’ve reviewed, BlackBull Markets offers multiple account types to cater to all traders. Cryptocurrency availability with AvaTrade is subject to regulation. This online Pepperstone review was based on information gained from the Razor FX trading account and the broker’s website. A traders review of Pepperstone should factor in the spreads of the accounts offered to alternative accounts from good forex brokers.

However, traders do not need to worry about additional costs when trading with OANDA. It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system. You can use MetaTrader 4 & 5 functions clock-round, which include your own EAs and indicators. To make sure you can get the best possible trading experience, this brokerage is happy to bring you a Virtual Private Server service, or VPS to support automated trading. If you are new to trading or looking to practice your trading strategies in a risk-free environment, you can create Demo Account in Pepperstone. But if you are an experienced trader or prefer to learn by doing, Pepperstone provides a Live Account that allows you to trade with live executions and pricing.
The broker provides traders with enough resources to help with trading decisions as well. Overall, eToro is considered to be the best trading platform for beginner’s in Australia. This is because the broker offers a variety of high quality educational resources and research tools that can be used to leanr about the markets as well as trading strategies. EToro also provides a demo trading account which is recommended to beginner’s before putting any real money on the line.

Crucially, the above illustrates once again that by placing both a stop-loss and take-profit order, the trade will be closed automatically. This is irrespective of whether the trade is profitable or results in a loss. We think that managing your expectations, as well as your bankroll, can really help you to concentrate on your trading goals. Then there’s the tried and tested strategy of carefully balancing your risk and reward on each position you take. Put simply, these indicators help us to gain a better understanding of support and resistance levels.
However, Pepperstone does have spread betting in the UK which it not available anywhere else. While some competing platforms offer more niche features that are largely only useful for specialised traders, MT4 offers the essential tools needed when trading. MT4 is not only one of the oldest and most popular platforms, but also one of the most reliable choices for retail investors.
A world-renowned Australian broker, Pepperstone offers MT4, MT5 and cTrader support, ASIC regulation and two simple accounts with ECN execution. Most  orders are executed in less than 50 milliseconds, which is ideal for scalpers and clients who run MT4’s expert advisors. Trading costs on ECN accounts are a combination of the spread and a commission.

Before selecting a broker, view the full commissions structure and see how it fits into your portfolio size and trading frequency. CommSec is the share trading arm of Commonwealth Bank of Australia. The web platform is simple to use and offers Goldman Sachs research, a very nice feature. The charts are sufficient for most, but not for an experienced trader. Traders can learn the fundamentals of online forex on the Pepperstone.com YouTube channel, as well as the online Pepperstone resource centre.
These mobile platforms have all of the functionality of the other platform types and are very easily accessible to traders. A fully licensed and regulated Australian forex broker will list the ASIC license number on the website. The client funds can’t be used for operational purposes by the forex broker.

We've reviewed the best MT5 brokers in Australia, and highlighted those that allow all trading styles and Expert Advisors. Trade Forex as well as CFDs on cryptocurrencies, stocks, indices, precious metals and more with an STP/ECN broker. EagleFX (EagleFX.com) allows all trading styles and Expert Advisors the MetaTrader 4 platform. This user-friendly platform allows you to trade assets without needing to bypass complex financial jargon - which is evident in the fact that it is now home to over 17 million customers. With that said, just because a trading platform is beginner-friendly, you still need to understand the risks of trading.
Two proprietary platforms – AvaTradeGO and AvaOptions are also avaialble. Of note is the Guardian Angel MT4 plugin the broker offers access to – it allows clients to receive instant feedback on their trading, which is of immense help to retail clients with less experience. Ltd, this company will be able to provide you with the protections you can expect from the high level of regulation, inherent to the Australian markets. Furthermore, it will be able to do so while allowing you to benefit from some of the best trading conditions out there – spreads from 0.9 pips for EURUSD, for instance.