10 best forex brokers in Australia 2022

Best Brokers in Australia

The most important decision you can make when you start trading forex for the first time is which broker to use. To ensure you use a forex broker that is honest, transparent and reliable; it’s highly recommended you choose a firm that is regulated by a Top-tier regulatory authority.

To help you choose a forex broker based in Australia, we chose from the list that are regulated by the Australian Securities and Investments Commission (ASIC). ASIC is a Top-tier regulatory authority and is one of the most respected regulatory entities in the world.

 

10 Best Forex Brokers in South Africa for 2022

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

4.8/5

User Score

#2

4.7/5

User Score

#3

4.5/5

User Score

#4

4.4/5

User Score

#5

4.7/5

User Score

#6

4.6/5

User Score

#7

4.7/5

User Score

#8

4.8/5

User Score

#9

4.7/5

User Score

#10

4.7/5

User Score

 

Forex brokers in Australia you can trust

Charter Prime

Founded 2012

Regulated ASIC, FSP

Headquarters Sydney, Australia

Tradeable assets Currencies, commodities, indices, stocks

Trading platform cTrader, MT4, MT5

Trading desk STP

Minimum deposit $1 000

Best for Trading solutions and access to the cTrader platform for institutional clients

VISIT BROKER

Founded in 2012, CharterPrime is a trusted global forex and CFDs broker based in Australia. The brokerage offers access to a wide range of financial instruments with live and demo trading accounts on the MT4 and MT5 trading platforms. CharterPrime also offers trading solutions for institutional clients on the cTrader platform.

You can follow CharterPrime on YouTube and Facebook where they post daily outlook videos in English, Chinese and Vietnamese. The forex broker provides limited educational material for beginner forex traders. Information related to its trading platforms and pricing can be found on the FAQs page on its website.

8eightcap

Founded 2009

Regulated ASIC, VFSC

Headquarters Melbourne, Australia

Tradeable assets Currencies, Commodities, Indices, Stocks, Crypto

Trading platform MT4, MT5

Trading desk NDD, STP, ECN

Minimum deposit $100

Best for Detailed trader research and trading education

VISIT BROKER

Eightcap is a well-established forex and CFDs broker based in Australia, offering access to a wide range of financial instruments on the MT4 and MT5 trading platform. Eightcap is a hybrid broker (NDD, STP, ECN) and offers a free demo, Standard commission-free account and Raw Spread commission-based account.

Eightcap publishes detailed trader research through Market Updates as well as valuable trading education material, including trading strategy guides. The forex broker offers good customer support in multiple languages.

fpmarkets

Founded 2005

Regulated ASIC, CySEC

Headquarters Australia

Tradeable assets Currencies, commodities, indices, stocks, crypto, futures

Trading platform IRESS, MT4, MT5, WebTrader

Trading desk No dealing desk (NDD)

Minimum deposit $100

Best for Multiple trading platforms

VISIT BROKER

fpmarkets is an Australian-based forex and CFDs broker. It offers five core trading accounts called Standard MT4-MT5, Raw MT4-MT5, IRESS Standard, IRESS Platinum and IRESS Premier. fpmarkets also offers Islamic swap-free trading accounts and a free demo trading account.

fpmarkets publishes a range of market analysis and education resources through the Traders Hub, including technical and fundamental analysis, video tutorials and trading eBooks. Clients have access to live support via telephone, email and live chat 24-hours/5-days a week.

GoMarkets

Founded 2006

Regulated ASIC, CySEC

Headquarters Australia

Tradeable assets Currencies, commodities, indices, crypto

Trading platform MT4, MT5, WebTrader

Trading desk Hybrid

Minimum deposit $200

Best for Extensive educational resources and courses through GO Trading Academy

VISIT BROKER

GoMarkets is a trusted, award-winning forex and CFDs brokerage based in Australia. The broker was awarded the 2019 Investment Trends Awards for Customer Service and Educational materials/programmes. GoMarkets is a hybrid brokerage (NDD, STP, ECN) and offers two main accounts; Standard commission-free account and GOPlus commission-based account.

GoMarkets is a MetaTrader broker and provides access to a wide range of financial markets as well as access to additional trading features such as social trading integration with MyFXbook, Trading Central and AutoChartist. GoMarkets publishes extensive educational material and runs online forex trading courses through GO Trading Academy.

IC Markets

Founded 2007

Regulated ASIC, CySEC, FSA(SC)

Headquarters Sydney, Australia

Tradeable assets Currencies, commodities, indices, stocks, bonds, crypto, futures

Trading platform cTrader, MT4, MT5

Trading desk NDD, ECN

Minimum deposit $200

Best for High volume traders, scalpers and trading algos

VISIT BROKER

IC Markets is a leading, Australian-based forex and CFDs broker, offering access to a wide range of financial markets on MT4/MT5 for retail traders and cTrader for institutional clients. IC Markets offers three core trading accounts; Standard commission-free account and the commission-based Raw Spread with MetaTrader and Raw Spread with cTrader. The forex broker also offers a free demo trading account and Islamic swap-free account.

IC Markets caters for beginner and intermediate traders but it is more suited for advanced and institutional traders. It’s the preferred forex broker in Australia for high volume traders, scalpers and trading algos due to their New York Equinix NY4 data centre which processes over 500 000 trades per day. IC Markets supports additional trading platforms for copy trading, including ZuluTrade and MyFXbook.

Ingot

Founded 2006

Regulated ASIC, SVGFSA

Headquarters Sydney, Australia

Tradeable assets Currencies, commodities, indices, stocks, crypto, futures

Trading platform MT4

Trading desk STP, ECN

Minimum deposit $100

Best for Award-winning broker, easy access to wide range of financial instruments

VISIT BROKER

Ingot is a well-established, award-winning forex and CFDs brokerage based in Australia. It provides clients with access to a wide range of financial markets on the MetaTrader 4 trading platform. Ingot provides clients with superior trading conditions, tight spreads, fast executions and comparatively low commissions. Ingot is a honest and trustworthy brokerage suited to beginner and intermediate forex and CFDs traders.

MiTrade

Founded 2011

Regulated ASIC, CIMA

Headquarters Melbourne, Australia

Tradeable assets Currencies, commodities, indices, stocks

Trading platform Proprietary

Trading desk Market Maker

Minimum deposit $50

Best for Comprehensive research and educational material

VISIT BROKER

MiTrade is an Australian-based forex and CFDs brokerage that operates as a joint brand name of MiTrade Holding Ltd. It provides clients access to a wide range of financial instruments on an advanced, easy-to-use proprietary web-based trading platform. The award-winning brokerage is regulatory compliant and regarded as honest, transparent and safe to use by online retail forex and CFDs traders.

The MiTrade proprietary trading platform incorporates features from TradingView. There are no deposit/withdrawal or inactivity fees and clients have the choice of a Standard and Pro trading account. MiTrade publishes a wide selection of research, including Daily Market Analysis, Market Sentiment and Forecasts as well as comprehensive educational material.

Pepperstone

Founded 2010

Regulated ASIC, BaFin, CySEC, DFSA, FCA, SCB

Headquarters Australia

Tradeable assets Currencies, commodities, indices, stocks, crypto, futures

Trading platform cTrader, MT4, MT5

Trading desk Bank, DMA, ECN, NDD, STP

Minimum deposit $150

Best for Impressive trader research and educational resources

VISIT BROKER

Pepperstone is a globally-regulated forex and CFDs brokerage based in Australia, offering clients access to a wide range of financial instruments on the MT4, MT5 and cTrader trading platforms. Clients have the choice of three types of accounts which includes the Standard commission-free account, the commission-based Razor account and the commission-free, swap-free Islamic account.

Pepperstone publishes an impressive range of trader research and educational material, including Market Analysis, Economic Calendar, trading guides, webinars and daily market news. It supports additional trading tools such as Smart Trader Tools, VPS hosting and Autochartist.

TMGM

Founded 2013

Regulated ASIC, VFSC

Headquarters Sydney, Australia

Tradeable assets Currencies, commodities, indices, stocks, crypto, futures

Trading platform MT4, MT5, IRESS

Trading desk STP, ECN

Minimum deposit $100

Best for Multiple trading platforms

VISIT BROKER

TMGM is a well-stablished STP and ECN forex and CFDs brokerage based in Australia. It offers clients access to a wide range of financial instruments on the MT4, MT5 and IRESS trading platforms. Clients have a choice of two types of trading accounts; the Classic commission-free account and the Edge commission-based account with raw spreads of 0 pips.

TMGM supports additional trading features such as HUBx for fund managers and TMGM Insights for portfolio diversification. The brokerage does not provide research tools nor educational material but it does provide good customer support in multiple languages if you have any issues with your trading account.

vt markets

Founded 2017

Regulated ASIC, CIMA

Headquarters Sydney, Australia

Tradeable assets Currencies, Commodities, Indices, Stocks, Futures

Trading platform MT4

Trading desk NDD, STP, ECN

Minimum deposit $200

Best for Multiple trading tools, daily market analysis reports and good customer support

VISIT BROKER

vt markets is a newly-established forex and CFDs brokerage based in Australia. It provides access to a range of financial instruments on the MT4 trading platform with an initial deposit requirement of $200. The brokerage offers STP and ECN trading accounts and a next-generation client portal area to manage your trading account.

vt markets supports additional features such as Pro Trading Tools from Trading Central, which includes Market Buzz, Featured Ideas and Analyst Views on a minimum $1 000 funded account.

What is ASIC (Australian Securities and Investments Commission)?

The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian government. It is tasked as the national corporate regulator for Australia and mandated to regulate company and financial services and enforce laws to protect Australian consumers, investors and creditors.

Established in 1991, ASIC was originally formed as the Australian Securities Commission (ASC) by the (then) ASC Act 1989. The purpose of ASC was to unify corporate regulators around Australia by replacing the National Companies and Securities Commission (NCSC) and the Corporate Affairs offices of the states and territories.

The corporate regulator became the Australian Securities and Investments Commission (ASIC) on 1 July 1998. It also became responsible for consumer protection in superannuation, insurance and deposit taking. It has since gained further responsibilities: for the Australian Stock Exchange in 2009, for Chi-X in 2011 and for credit in 2002.

ASIC legislative responsibilities

ASIC reports to the Treasurer and is responsible for the administering the following legislation:

  • Australian Securities and Investments Commission Act 2001 (ASIC Act)
  • Business Names Registration Act 2011
  • Corporations Act 2001 (Corporations Act)
  • Insurance Contracts Act 1984
  • National Consumer Credit Protection Act 2009 (National Credit Act)

ASIC is also responsible for administering parts of the following legislation:

  • Banking Act 1959
  • Life Insurance Act 1995
  • Medical Indemnity (Prudential Supervision and Product Standards) Act 2003
  • Retirement Savings Accounts Act 1997
  • Superannuation (Resolution of Complaints) Act 1993
  • Superannuation Industry (Supervision) Act 1993 (SIS Act)

How to search for regulated forex brokers in Australia

You can search for ASIC-regulated forex brokers on the official ASIC site and check in what capacity they are licensed and regulated.

SEARCH ASIC REGISTER

ASIC launched a consumer website in 2011 under the brand name MoneySmart.

MoneySmart replaced ASIC’s two previous consumer websites: FIDO and Understanding Money.

MoneySmart aims to help people make good financial decisions by providing free, independent and unbiased tips and guidance as well as free tools for financial management.

VISIT MONEYSMART

FOREX TRADING AFRICA DISCLAIMER

Forex is a complex instruments and trading forex involves a high risk of losing money rapidly due to leverage. You need to understand how forex trading works and decide whether you can afford to take the risk of losing money on trade orders that do not go your way.

Forex Trading Africa annually reviews brokers regarded as the best in the world and provides information on the products, fee structure, market analysis and service they offer. We aim to provide important information for you to base your decisions on when choosing the right forex broker for your needs.

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