Best And Trusted Forex Brokers In Australia

ASIC Australia Regulated Forex BrokersThe Australia Securities and Investments Commission (ASIC) regulates the forex brokers operating in Australia. However, some of the best and trusted forex brokers in Australia may not be based in the country at all. The benefits of working with an Australian forex broker include availability of market updates while the trading session in Asia is on, stronger customer support services and a link with local banks.

The Australian dollar (represented as AUD) is a major currency and is paired with many others. Some of the popular ones are AUD/USD, AUD/CAD and EUR/AUD. However, traders often feel more comfortable trading their own currency over others. It is a good idea, for this reason alone, to choose the best and trusted forex brokers in Australia that offer spreads and execution suited to the trader’s need for AUD pairs as well as crosses.

One of the important aspects to be kept in mind when choosing the best and trusted forex brokers in Australia is the leverage offered. Some of the Australian ASIC regulated brokers offer leverage up to 1:500, while others that are regulated in other regions are required to limit leverage offered so as to provide protection to traders’ funds. Further, it is not recommended that traders work with non-regulated brokers even though those accepting Australian clients often offer higher leverage.

Top Forex Brokers Regulated By ASIC Australia

Broker Info Bonus Open Account
Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia
Visit Broker
ava trade best forex broker Min Deposit: $100
Spread: Starting From 0.9 pips
Leverage: 400:1
Regulation: MIFID, FSB & ASIC
Visit Broker

Forex brokers in Australia that invest time and effort in obtaining ASIC’s accreditation indicate that they are serious about their business and want to protect their clients’ funds. Often, such brokers will not be fly-by-night operators who run away with traders’ money. Of course, some of the brokers that are regulated in other regions are also reliable and trustworthy. However, the biggest difference is with respect to filing claims against the forex broker. Traders located in Australia would always prefer to file claims with the regulatory body in their country and not in any other country. In this connection, it worth noting that some of the brokers operating in Australia are regulated by ASIC as well as by competent authorities in other regions. This provides an indication about the global reach and commitment to trustworthiness of such brokers.

The best way to find out whether a forex broker in Australia is the right one for a trader is by opening a demo account on their platform and testing out their trading conditions. We have identified a few of the best and trusted forex brokers in Australia based on factors such as reliability, professionalism, trading conditions and responsiveness to help traders kick-start their research process so that they can choose one that caters to their specific needs.

Pepperstone

Pepperstone Financial, an execution-only forex trading platform provider, offers sophisticated trading solutions for veteran traders and simple ones for the novice forex trader. The broker enables retail investors to use forex as an asset class and to achieve some of their financial goals. The trading platform offered by the broker provides access to market data and reliable client support. In addition, Pepperstone provides direct access to several forex market liquidity destinations without the involvement of a dealing desk.

Founded In – 2010
Regulation – ASIC
Broker Type – No Dealing Desk
Account Currencies – AUD, JPY, GBP, NZD, USD, EUR, CHF, SGD and HKD
Minimum Deposit – $200
Spread for Forex Majors – Starting 0 Pips
Leverage – 500:1
Minimum Trade Size – 1000
Scalping – Yes
Hedging – Yes
Demo Account – No
USA Traders – No
Islamic Account – No
Commissions – ECN $3.5/100K
Margin Interest – No
Languages Supported – English, Japanese, Chinese, Russian and Thai
Customer Service – 24/5; Phone, Chat and Email
Telephone Orders – No
Personal Account Manager – No
Trading Platforms – MetaTrader 4 Mobile; MetaTrader 4 and 5 and XOGEE Web Trader
Charting Package – Yes
Trade off Charts – Yes
Streaming News Feed – Yes
Email and Mobile Alerts – Yes

AvaTrade

AvaTrade has offices in Sydney, New York, Milan, Tokyo, Dublin and several other locations. More than 200,000 customers from 150 plus countries have registered on their forex platform and execute as many as 2 million trades every month. AvaTrade has its headquarters in Dublin.

Founded In – 2006
Regulation – ASIC, FSC (in British Virgin Islands), Financial Services Agency (in Japan), Central Bank of Ireland and licensed by MiFID (in the European Union)
Broker Type – Market Maker
Account Currencies – AUD, USD, JPY, GBP and EUR
Minimum Deposit – $100
Spread for Forex Majors – EUR/USD 3; GBP/USD 4 and USD/JPY 3
Leverage – 400:1
Minimum Trade Size – 1000
Scalping – Yes
Hedging – Yes
Demo Account – Yes
USA Traders – No
Islamic Account – Yes
Margin Interest – No
Languages Supported – English, Arabic, Chinese, Dutch, Finnish, French, German, Hungarian, Italian, Japanese, Hebrew, Polish, Portuguese, Russian, Swedish and Spanish
Customer Service – 24/5; Call Back, Chat, Phone an Email
Telephone Orders – Yes
Personal Account Manager – No
Trading Platforms – AvaTrader Mobile; MetaTrader 4, Ava Trader, ZuluTrade, AvaOptions and MirrorTrader
Charting Package – Yes
Trade off Charts – Yes
Streaming News Feed – Yes
Email and Mobile Alerts – Yes

AxiTrader

AxiTrader, an Australian company, provides innovative online financial products as well as services. Traders can trade Margin forex, Global Indices, Commodities and Precious Metals at competitive spreads and rates. AxiTrader holds traders’ funds in a segregated account with a major bank in Sydney.

Regulation – ASIC
Broker Type – No Dealing Desk
Account Currencies – AUD, JPY, GBP, NZD, USD, EUR, CHF, SGD and HKD
Minimum Deposit – $1
Spread for Forex Majors: EUR/USD 1; GBP/USD 1.2 and USD/JPY 1.3
Leverage – 400:1
Minimum Trade Size – 1
Scalping – No
Hedging – Yes
Demo Account – Yes
USA Traders – No
Islamic Account – No
Commissions – CFDs and Equities 0.1%
Margin Interest – Yes
Deposit Fees – Credit Card 3%
Withdrawal Fees – AUD 1.5 to AUD 30
Languages Supported – English, Arabic, Chinese, German, Spanish and Russian
Customer Service – 24/5; Phone, Chat and Email
Telephone Orders – Yes
Personal Account Manager – Yes
Trading Platforms – MetaTrader 4 and MetaTrader 4 Mobile
Charting Package – No
Trade off Charts – Yes
Streaming News Feed – No
Email and Mobile Alerts – Yes

 

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