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Is Australia the land of Forex Brokers?

Traders located in Australia have plenty of choice when it comes to high-quality local Forex brokers. Top Australian Forex brokers are licensed and regulated by the ASIC (Australian Securities and Investments Commission), which is one of the toughest regulators in the financial services industry. They also need to hold an AFSL (Australian Financial Services license).

While excellent brokers can also be found in a number of other locations, it is especially beneficial for local traders to choose a broker based in Australia as Australian Forex brokers can provide market updates during the Asian trading session, have better customer support availability during local trading hours, and are directly connected to local banks. To help you find the best broker for your unique needs, our review presents a list of the top Australian Forex brokers based on regulation, security, reliability, professionalism, customer support and, of course, trading conditions.

CFD and Leverage in Australia

A huge advantage of Australian brokers is that they are permitted to offer clients maximum leverage of up to 500:1 for some trading products such as CFDs or Forex trading. Brokers in some other regions must adhere to much stricter leverage limitations. For example, European brokers, often licensed by strong regulators such as the UK’s FCA (Financial Conduct Authority) or the CySEC (Cyprus Securities and Exchange Commission), are limited by the ESMA (European Securities and Markets Authority) to offering maximum leverage of just 30:1!

Of course, traders should always be cautious when opting for higher leverage, but many Australian traders enjoy the flexible and less stringent trading rules imposed by ASIC. Nonetheless, ASIC closely monitors compliance with its market integrity rules and uses suspicious activity reports to conduct targeted surveillance of suspected market misconduct. In addition, brokers regulated by the ASIC are considered to benefit from a culture of strong compliance and full adherence to all applicable regulatory frameworks.

Low Spreads High Leverage and..

When it comes to trading the Australian dollar (AUD), a major currency often traded against the US dollar (USD) in the AUDUSD currency pair or the Japanese yen (JPY) in AUDJPY among others, it makes sense to look for an Australian broker as they often offer the best market spreads for AUD pairs and their execution. Forex traders looking for a great trading experience and brokers that cut out dealing desks with STP or ECN models will find a solid amount of reputable Aussie brokers such as IC MarketsAxiTrader, ThinkMarkets, easyMarketsVantageFX, goMarkets, and more.

However, it is not only the local currency that can be traded profitably with Australian Forex brokers. Many of the top Aussie brokers offer an overall excellent trading environment, very competitive spreads, fast execution speeds, a great selection of trading products and many other great features, such as the option to engage in copy or social trading.

One of Australia’s leading Forex brokers is Sydney-based IC MarketsIC Markets is among the world’s very few ‘True ECN’ Forex brokers, providing trading solutions for active day traders, professionals, scalpers, and traders who are new to the Forex market. Their true ECN trading accounts come with low commissions and ultra-low spreads.

5 Stars Customer Service assured

Brokers from down under have secured a number of industry awards affirming their reputation as leaders in their field. In fact, there is almost no top prize that has not been won by an Australian Forex broker, from Pepperstone’s (Melbourne based) receipt of the award for No. 1 in Customer Service and Overall Client Satisfaction, to AxiTrader’s recognition as Strongest Brand Association with Being Trustworthy and the award of Best APAC Region Broker won by easyMarkets. Especially when it comes to customer support and client satisfaction, these brokers have set industry standards and enjoy a great reputation from clients in Australia and around the globe.

Almost all the best Australian Forex brokers offer the popular MetaTrader4 (MT4trading platform to their clients, often with many additional special tools and features. MT5 and cTrader are often available to all clients at no extra cost, and even unique proprietary platforms are sometimes on offer. Trading ForexCFDs or other financial products can always be trialled with a demo account at no cost with Australia's best Forex brokers.

Find The Best Australian Forex Brokers for your needs

To help you find the Forex broker that is best suited to your needs, take a look at our comparison table and ranking of Australia’s top Forex brokers above. If you require more in-depth information or are looking for more brokers to choose from, check out our detailed individual broker reviews and additional comparison tables.