In this article, we searched and tested over 15 forex brokers with ASIC license from Australia.

we opened a real account and deposited between $4000-$8000 with each broker. We placed real trades in each popular market to get the real spreads.

We also reached out to customer support to solve issues that we encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.

We handpick the best forex brokers based on our trading data and experience as a trader.

Australian ASIC Regulated Forex Brokers

Forex brokers must be authorised by the Australian Securities & Investment Commission (ASIC) to operate in Australia. ASIC’s website is asic.gov.au. We suggest investors and traders follow ASIC on Twitter, @ASIC_Connect to get the latest news.

ASIC regulated brokers are safe to trade as ASIC is a good regulator with strict measure to protect investors and traders. It has issued millions dollars of fines to brokers not complying with its operation guideline. In some cases, even withdrew brokers license and banned directors from working in the industry.

The max. leverage is 30:1 with Australian brokers. All brokers must offer negative balance protection. The downside is that there is no compensation scheme if a broker go bankruptcy.

Some of the key highlights of trading with ASIC regulated brokers:

🏦RegulatorAustralian Securities and Investments Commission (ASIC)
πŸ“ŠMax. Leverage30:1
πŸ›‘οΈIs It safe to tradeYes
πŸ”’Negative Balance ProtectionYes
πŸ’°Compensation SchemeNo Compensation Scheme

Best Forex Brokers Australia

To select the best forex brokers, we tested and reviewed over 15 forex brokers Australia by opening live account, depositing real money and placing real trades. so we can get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education and customer service. 

  • Pepperstone β€“ Best Overall Forex Broker in Australia
  • IG β€“ Best Forex Broker for Beginners in Australia
  • GO Markets β€“ Best MT4 Broker Australia
  • CMC Markets β€“ Best Forex Trading Platform Australia
  • Admiral Markets β€“ Lowest Spread & Trading Fees in Australia

Best Overall Forex Broker in Australia

We pick Pepperstone as the overall best forex broker in Australia. Pepperstone offers a full package of a good broker. Opening an account is smooth. It offers 9 deposit & withdrawal methods. Spread is competitive at 1.15 on EUR/USD and along with no limit in trading strategy. Furthermore, it provides great education and trading tools including video tutorials, webinars, Autochartist and more. Lately, it also added social trading through Myfxbook and DupliTrade.

Best Forex Broker for Beginners in Australia

Best MT4 Broker Australia

Best Forex Trading Platform Australia

Lowest Spread & Trading Fees in Australia

Australian Forex Brokers List & Review

besides the our best picks above, we also put together a complete list of 16 Australian forex brokers along with our review.

Forex BrokerASIC RegulatedAbout Our TestOur Review
eToroYesDeposit Amount: Over $6,000
Total Trade: 18 trades
eToro Review
AvaTradeYesDeposit Amount: Over €4,000
Total Trade: 21 trades
AvaTrade Review
Plus500YesDeposit Amount: Over €6,000
Total Trade: 18 trades
Plus500 Review
AXI (AxiTrader)YesDeposit Amount: Over €6,000
Total Trade: 12 trades
AXI Review
XMYesDeposit Amount: Over €5,000
Total Trade: 12 trades
XM Review
Admiral MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Admiral Markets Review
FP MarketsYesDeposit Amount: Over €6,000
Total Trade: 12 trades
FP Markets Review
FxProYesDeposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
PepperstoneYesDeposit Amount: Over €6,000
Total Trade: 12 trades
Pepperstone Review
CMC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
IC MarketsYesDeposit Amount: Over €5,000
Total Trade: 12 trades
IC Markets Review
Markets.comYesDeposit Amount: Over €4,500
Total Trade: 12 trades
Markets.com Review
Vantage FXYesDeposit Amount: Over €5,000
Total Trade: 15 trades
Vantage FX Review
ThinkMarketsYesDeposit Amount: Over €5,000
Total Trade: 15 trades
ThinkMarkets Review
GO MarketsYesDeposit Amount: Over €4,500
Total Trade: 12 trades
GO Markets Review
FortradeYesDeposit Amount: Over €5,000
Total Trade: 12 trades
Fortrade Review

FAQ & more on Australian brokers

How to verified an ASIC regulated broker?

Compare Australian Forex Brokers

ECN Forex Brokers in Australia

MT4 Forex Brokers in Australia

High Leverage Forex Brokers in Australia

From March 2021, ASIC set a maximum leverage of 30:1 on CFDs for all ASIC brokers. To access trading high leverage trading like 400:1 or 500:1, Australian traders need to be eligible to apply a Professional Trader. Or trade with a broker from New Zealand like BlackBull Markets.

Lowest spread forex broker in Australia

Australian Forex Brokers offer Micro/Cent Account

Swap Free Forex Brokers in Australia

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.

I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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