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7 “Best” Australian Forex Brokers (December 2023)

Updated on is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.

In Australia, a land known for its robust economy and pioneering spirit, the Forex trading landscape offers a compelling array of opportunities. The country's trading platforms stand out, reflecting the unique character of the Aussie financial market. For traders at all levels, from those taking their first steps in the world of finance to the battle-hardened veterans, finding the right broker is a journey in itself.

This guide navigates through the Australian Forex market, pinpointing top brokers that excel in areas like trustworthiness, user-friendliness, cost-effectiveness, and adherence to local regulatory requirements. Given the complexities of currency trading and the nuances unique to the Australian market, choosing a suitable broker is more than just a practical decision; it's a strategic move.

A closer examination of these selected brokers shows a range of features and advantages tailored to different trading styles and goals. Whether one is executing trades against the backdrop of Sydney's skyline or from a quiet suburb in Melbourne, these platforms cater to the diverse and dynamic needs of Australian traders.

Below are the current top 7 forex brokers in Australia.

1. IG

IG Australia Pty Ltd is located in Melbourne, Australia and is operating with Australian Financial Services Licence No. 515106.

These platforms let individuals speculate on the price movements of equities, bonds, and currencies without having the actual assets.

Open an investment account and leverage the IG platform to capitalize on the movements in currency values. They offer trading opportunities in all major global currency pairs including AUD/USD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/EUR, GBP/JPY, GBP/USD, USD/CAD, USD/CHF and USD/JPY. They also offer trading opportunities in smaller currencies such as SGD, ZAR, INR, BRL, IDR, PHP, TWD, and much more.

They also offer access to opportunities across 13,000+ shares and ETFs.

Buy and sell thousands of global shares and ETFs. Trade US shares from £0 commission and UK shares from just £3 commission. Plus, pay only 0.5% for Forex (FX) conversion.

Another option are the Smart Portfolios – Invest via a portfolio designed by the world’s largest asset manager, BlackRock. IG monitors and manage it based on your goals and risk profile, at a fraction of traditional wealth managers’ costs

CFD traders benefit the most, as this is the World’s No.1 CFD provider. Made for traders who want to take advantage of rising and falling markets, they offer flexible access to more than 17,000+ global markets including stocks and cryptocurrencies, with reliable execution.

Read our IG Review or visit IG.

Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.

2. eToro

eToro is one of most popular trading platforms in the world with over 20 million registered users. They offer low fees and minimum deposits, combined with a user-friendly platform.

eToro platform gives traders and investors access to more than 3,000 different financial assets, including stocks, cryptocurrencies, ETFs, indices, currencies (forex) and commodities which can be invested in both with and without leverage, giving almost anyone access to short-, mid- and long-term investment options.

Enjoy spreads from as low as 1 pip, and access leverage and diversify with 40+ global currency pairs. They offer unique trading tools such as stop loss,  short (without leverage), price alerts, and pro charts.

eToro is regulated by the Australian Securities and Investments Commission (ASIC) to provide financial services under Australian Financial Services License 491139, and your funds are protected by industry-leading security protocols.

Read our eToro Review or visit eToro to open your account.

Warning: eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

3. Fusion Markets

Fusion Markets is based in South Yarra, Victoria and is an ASIC regulated broker that offers more than 250 financial products to trade in across a number of the most popular markets in the industry. Firstly, in terms of forex trading, there are more than 90 currency pairs available. This includes major, minor, and exotic currencies and is a comparatively large offering.

Commodities including gold, silver, platinum, crude oil, and other energy commodities are offered for trading as CFDs. Major indices can also be traded as CFDs. There are also more than a dozen cryptocurrencies that can be traded including BTC, DOGE, ETH, BCH, LTC, EOS, DOT, LINK, LUNA, SOL, MATIC, XLM, ADA, AVAX, and BNB as well as over 100 CFDs on US-listed shares from some of the biggest names in the world.

Fusion Markets offers several top trading platforms. Available to choose from are both MT4 and MT5 platforms. These are among the most popular and respected in the industry and allow for a host of customizable features, indicators, and charts along with being very accessible and easy to navigate for almost any level of trader. The broker also provides copy trading services through their Fusion+ copy trading platform which is very intuitive and user-friendly.

Alongside the desktop platforms, MetaTrader WebTrader platform is available and can be accessed within your browser without the need for a download. On mobile, both the MT4 and MT5 mobile platforms are available through apps that can be downloaded on iOS and Android devices. These mobile platforms have all of the functionality of the other platform types and are very easily accessible to traders.

Read our Fusion Markets Review or visit Fusion Markets.

Warning: 74 to 89% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.

4. XM

XM was founded in 2009. Within the period that has passed, they have managed to become one of the most instantly recognizable names in forex trading and they are also our top ranked global forex brokerage. This is not only due to their excellent regulatory compliance worldwide, they are regulated by both CySEC, and ASIC, as well as two other top-tier regulators, but also the fact they are regulated in Australia.

Trading Point of Financial Instruments Pty Ltd is authorised and regulated by the Australian Securities and Investment Commission (License# 443670).

The broker caters for the needs of the forex market in more than 196 countries. This makes them one of the most available brokers in the industry to all levels of trader. Couple this with an exceptional education section, and a great variety of assets to trade in, and you have a winning combination with XM.

Read Our Detailed XM Review

Visit XM

Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

5. Vantage FX

Vantage FX – This is a well-trusted ASIC regulated broker that offers an excellent all-around service to Australian traders. They work hard to provide and maintain a very safe trading environment, and provide a good level of accessibility to traders at all levels with their competitive fees and minimum deposit requirements.

This reputable broker offers both of the leading trading platforms MT4 and MT5. This means you can have access to the webtrader, desktop, or mobile variations of these trading platforms through this broker. Both platforms are award-winning for the functionality they provide, including a technical depth and prowess that makes them suitable for new and experienced traders alike.

You will have access to dozens of charting tools and indicators across all variations of the platform that prioritizes the ability to customize your trading experience. On mobile, the platforms are equally as powerful with access to the same detailed functions in an easy-to-use app.

Vantage Global Prime Pty Ltd trading under Vantage FX, is regulated by the Australian Securities and Investments Commission (ASIC), AFSL no. 428901 and is located at level 29, 31 Market St, Sydney, New South Wales, 2000, Australia.

Read our Vantage FX Review or visit Vantage FX

Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

6. Admiral Markets

Initially launching in 2001, Admiral Markets has a registered office in Australia and has become a globally recognized brand in the CFD and forex trading sector.

The broker takes pride in the fact they are regulated by multiple respected bodies around the world and provide traders with a comprehensive trading experience no matter what type of assets they are looking to trade. All of this with the backing of some of the best trading platforms in the business.

Far from resting easy on their success, Admiral Markets continues to find new and innovative ways to develop advanced tools and offerings for the new and sophisticated trader.

Admiral Markets Pty Ltd Registered Office: 1/17 Castlereagh Street Sydney NSW 2000. Admiral Markets Pty Ltd (ABN 63 151 613 839) holds an Australian Financial Services Licence (AFSL) to carry on financial services business in Australia, limited to the financial services covered by its AFSL no. 410681.

Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

7. AvaTrade

AvaTrade is another solid option for Australian residents, the reason for this is Ava Capital Markets Australia Pty Ltd is licensed in Australia by the Australian Securities & Investments Commission (License# 406684). The ASIC is Australia’s corporate, markets and financial services regulator and is responsible for ensuring its financial markets are fair and transparent. Australian license and regulation applies to Australian residents only.

While they were founded in 2006 in Ireland, they have since grown to become one of the top forex brokers in the sector and they have since added an office in Australia:

AvaTrade Capital Markets Australia Pty Ltd.
Level 13
2 park street
Sydney NSW 2000

A low minimum deposit requirement of just $100 across most of the available account types, coupled with respected regulation from a number of bodies worldwide, make AvaTrade a popular choice for new and experienced Australian traders.

The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs, and other markets for trading stocks, ETFs, crypto, and more. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders.

Read our Detailed AvaTrade Review

Visit AvaTrade

Warning: Trading Forex/CFD & Options on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite.

What is ASIC?

This stands for: Australian Securities and Investments Commission.

This is an independent Australian government body that acts as Australia’s corporate regulator. ASIC’s role is to enforce and regulate company and financial services laws to protect Australian consumers, and investors.

ASIC was established on July 1st, 1998 and this followed recommendations from the Wallis Inquiry. ASIC's authority and scope is determined by the Australian Securities and Investments Commission Act, 2001 (Cth)

Do these brokers accept clients from all states?

While we feature many forex brokers on this website, only the brokers featured on this page currently accept clients from Australia. There are no regional restrictions in place for individual Australian states or territories. (New South Wales, Queensland, South Australia, Tasmania, Victoria, Western Australia; and three internal territories: the Australian Capital Territory (ACT), Northern Territory, and Jervis Bay Territory.)

Can I contact customer support?

We recommend forex broker in Australia that offer 24/7 support to all of Australia. In most cases you may phone, email, or use live chat.

Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.