Best Forex Brokers And Trading Platforms In Australia 2025
The Australian Dollar (AUD) is one of the 10 most traded currencies globally and plays a significant role in the Asia Pacific. It represents around 6% of the entire foreign exchange market by volume, despite Australia only comprising approximately 1% of global gross domestic product (GDP).
With rising interest in forex trading, alongside strong regulatory oversight by the Australian Securities and Investments Commission (ASIC), Aussies now have hundreds of online brokers to choose from.
Discover our selection of the best forex trading platforms in Australia. Our recommended brokers cater specifically to Aussie traders with currency pairs containing the AUD and ASIC authorization.
Top 6 Forex Trading Platforms In Australia
Our latest tests show these brokers are the best for forex traders in Australia:
Here is a short overview of each broker's pros and cons
- Pepperstone - Pepperstone offers ultra-competitive forex spreads averaging 0.12 pips on EUR/USD in the Razor account, accompanied by a diverse portfolio comprising 100+ currency pairs - an extensive selection surpassing most competitors. Additionally, Pepperstone distinguishes itself by offering three currency indices (USDX, EURX, JPYX), not commonly found among alternative platforms. Pepperstone has now won our annual 'Best Forex Broker' award twice.
- XM - XM offers a strong selection of currency pairs with no re-quotes or hidden charges, while spreads have come down over the years, now starting from 0.8 pips on the EUR/USD in the commission-free account.
- Fusion Markets - Fusion Markets offers an excellent selection of 90+ currency pairs, providing a range of short-term trading opportunities. It continues to excel for its ultra-tight spreads from 0.0 pips and exceptionally low commissions of $2.25 per side. You also get access to leading forex software in MetaTrader 4.
- Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
- AvaTrade - AvaTrade delivers 50+ currency pairs with tight spreads from 0.9 pips and zero commissions. Trade majors, minrs, and exotics 24/5 on leading forex platforms, notably MT4, with sophisticated charting tools and forex education to sharpen your edge, including a dedicated guide to 'Currency Trading'.
- FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
Best Forex Brokers And Trading Platforms In Australia 2025 Comparison
| Broker | ASIC Regulated | AUD Account | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit |
|---|---|---|---|---|---|---|
| Pepperstone | ✔ | ✔ | 100+ | 0.1 | / 5 | $0 |
| XM | ✔ | - | 55+ | 0.8 | / 5 | $5 |
| Fusion Markets | ✔ | ✔ | 90+ | 0.05 | / 5 | $0 |
| Vantage | ✔ | ✔ | 55+ | 0.0 | / 5 | $50 |
| AvaTrade | ✔ | ✔ | 50+ | 0.9 | / 5 | $100 |
| FOREX.com | ✔ | ✔ | 80+ | 1.2 | / 5 | $100 |
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Christian Harris, Reviewer
Pepperstone Quick Facts
| GBPUSD Spread | 0.4 |
|---|---|
| EURUSD Spread | 0.1 |
| EURGBP Spread | 0.4 |
| Total Assets | 100+ |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Now offering spread betting through TradingView, Pepperstone provides a seamless, tax-efficient trading experience with advanced analysis tools.
- Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates up to 30% (index and commodities) and $3/lot (forex) through the Active Trader program.
- Pepperstone has greatly improved the deposit and withdrawal experience in recent years, adding Apple Pay and Google Pay in 2025, as well as PIX and SPEI for clients in Brazil and Mexico in 2024.
Cons
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
XM
"With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years."
XM Quick Facts
| GBPUSD Spread | 0.8 |
|---|---|
| EURUSD Spread | 0.8 |
| EURGBP Spread | 1.5 |
| Total Assets | 55+ |
| Leverage | 1:30 |
| Platforms | MT4, MT5, TradingCentral |
| Account Currencies | USD, EUR, GBP, JPY |
Pros
- XM’s growing roster of 1,000+ instruments provides diverse short-term trading opportunities, with unique turbo stocks, fractional shares, and more recently thematic indices.
- XM stands out for its commitment to trader education, with a wealth of well-presented resources, including webinars, tutorials, and even real-time trading sessions through XM Live.
- XM’s customer support has delivered over years of testing, with 24/5 assistance in 25 languages, response times of <2 minutes and now a growing Telegram channel.
Cons
- While the XM app stands out for its usability and exclusive copy trading products, the selection of technical analysis tools needs to be improved to meet the needs of advanced traders.
- XM is falling behind the curve by not offering cTrader and TradingView which are increasingly being favored over MetaTrader for their smoother user experience and superior charting packages.
- Although trusted and generally well-regulated, the XM global entity is registered with the weak IFSC regulator and UK clients are no longer accepted, reducing its market reach.
Fusion Markets
"Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC."
Fusion Markets Quick Facts
| GBPUSD Spread | 0.13 |
|---|---|
| EURUSD Spread | 0.05 |
| EURGBP Spread | 0.09 |
| Total Assets | 90+ |
| Leverage | 1:500 |
| Platforms | MT4, MT5, cTrader, TradingView, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- The market analysis features, Market Buzz and Analyst Views, are great tools for discovering opportunities and conveniently integrated into the client dashboard.
- The range of charting platforms and social trading features is excellent, with MT4, MT5, cTrader and more recently TradingView, catering to a wide range of trader preferences.
- Fusion Markets is set up to support algo traders with a sponsored VPS solution and a 25% discount if you opt for the NYC Servers VPS for MT4 or cTrader.
Cons
- There is no proprietary trading platform or app built with beginners in mind, a notable drawback compared to AvaTrade.
- Fusion Market trails alternatives, notably eToro and IG, in the education department with limited guides and live video sessions to upskill new traders.
- Traders outside of Australia must sign up with weakly regulated global entities with limited safeguards and no negative balance protection.
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Vantage Quick Facts
| Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
|---|---|
| GBPUSD Spread | 0.5 |
| EURUSD Spread | 0.0 |
| EURGBP Spread | 0.5 |
| Total Assets | 55+ |
| Leverage | 1:500 |
| Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- The ECN accounts are very competitive with spreads from 0.0 pips and a $1.50 commission per side
- There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
- It’s quick and easy to open a live account – taking less than 5 minutes
Cons
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- Unfortunately, cryptos are only available for Australian clients
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
AvaTrade
"AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets."
AvaTrade Quick Facts
| GBPUSD Spread | 1.5 |
|---|---|
| EURUSD Spread | 0.9 |
| EURGBP Spread | 1.5 |
| Total Assets | 50+ |
| Leverage | 1:30 (Retail) 1:400 (Pro) |
| Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
| Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- Years on, AvaTrade remains one of the few brokers offering a bespoke risk management tool, AvaProtect, that insures losses up to $1M for a fee and is easy to activate on the platform.
- Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.
- AvaTrade continues to enhance its suite of products, recently through AvaFutures, providing an alternative vehicle to speculate on over 35 markets with low day trading margins.
Cons
- The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
- AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
- While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
FOREX.com Quick Facts
| Bonus Offer | 20% Welcome Bonus Up To $5000 |
|---|---|
| GBPUSD Spread | 1.3 |
| EURUSD Spread | 1.2 |
| EURGBP Spread | 1.4 |
| Total Assets | 80+ |
| Leverage | 1:400 |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
Cons
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
Choosing A Forex Trading Platform In Australia
Years of hands-on tests and a research team comprised of active traders and industry experts give us a genuine voice on what makes a good forex broker. These are the key things we look for:
Trust
After observing various forex scams in recent years with increasing levels of sophistication, we prioritize choosing trustworthy brokers.
TradeFed, for example, was sued after using high-pressure sales tactics to entice Aussie forex traders to its platform before reportedly taking the opposing side of 95%+ of its clients’ positions, making money when investors’ trades went the wrong way, with some Aussies losing upwards of A$140,000.
That’s why all our recommended forex brokers are authorized by the Australian Securities and Investments Commission (ASIC), a ‘green-tier’ regulator in line with our Trust Rating, providing the highest level of investor protection.
We also balance firms’ regulatory credentials with their standing in the forex industry, though no brokerage can ever be totally ‘safe’.
ASIC-regulated forex trading platforms are required to provide several safeguards to retail investors, notably:
- Deposits are segregated from the business to ensure they can be returned in the event of liquidation. For example, when ASIC-regulated foreign exchange firm Halifax Investment Services went under in 2018, ASIC provided creditors with regular updates to ensure the segregated funds made their way back to clients.
- Forex traders should not be marketed financial products that are unsuitable for them. For instance, when I signed up with IC Markets I had to fill out a suitability questionnaire that asked about my risk appetite and source and scale of funds before I could trade currencies.
- Potential losses are capped by limiting leverage on forex to 1:30 for major currency pairs like the AUD/USD and 1:20 for minors like the AUD/JPY. These rules will be in place until at least 2027, following a 91% reduction in aggregate net losses by retail client accounts since the rules came into place in 2021.
- Negative balance protection should be in place, preventing Aussies from losing more than their deposit amount when trading currencies online.
- Although all our recommended forex trading platforms are ASIC-regulated, IG earns our vote as the most trusted. Authorization from 13 regulators, over 50 years of industry experience, a listing on the London Stock Exchange, and excellent reports from our active traders who’ve used the IG platform for real-money trading, help it stand out from the crowd.
Currency Pairs
All our top-rated forex platforms provide access to a range of currency pairs (at least 30), ensuring diverse trading opportunities.
Critically, they also provide trading on currency pairs containing the AUD, catering specifically to Aussie traders.
The Australian Dollar (AUD) is the national currency that replaced the Australian Pound in the 1960s. Because Australia is a major exporter of iron ore and coal, the price of these commodities can heavily influence AUD’s value, warranting the attention of active traders.
- Pepperstone’s selection of 100+ currency pairs remains almost unrivalled, with majors like the AUD/USD, six minors/crosses including AUD/SGD, AUD/JPY and AUD/GBP, plus exotics and commodity crosses not commonly found elsewhere, notably AUD/NOK and XAU/AUD. Its ultra-fast execution speeds of 30ms also help day traders lock in optimal prices in volatile FX markets.
Tools
Our hands-on tests show the best Australian forex brokers offer excellent tools for analyzing foreign exchange markets with insights into events that could influence the value of the AUD, amongst other currency pairs.
MetaTrader 4 (MT4) remains the most popular forex software, catering to experienced traders looking for strong charting features, with 30 indicators, 24 analytical objects and 9 time intervals from 1 minute (suitable for short-term trading). That said, I don’t like the dry workspace.
Fortunately, Aussie forex brokers are increasingly developing their own platforms to rival the MetaTrader suite, often with more intuitive interfaces for newer investors.
I recommend starting with a demo account, available from every one of our recommended Australian forex brokers. They provide a terrific way to learn platform features before risking funds.Equally, maintaining a trading journal can help you identify what works and what doesn’t and help you refine your forex trading strategy.
Forex day trading apps are also becoming ever-popular. The Vantage App is one of my favorites. The charting is detailed – you’re able to layer indicators, such as the RSI and MACD, and apply specific parameters. Charting switches from horizontal to vertical, viewing swiftly, with a pinch-to-zoom that I love. A wonderfully well-thought-through forex app in my book.
- Eightcap’s forex tools are also a cut above the rest. Alongside MT4 (built specifically for forex trading) and MT5 (more features for advanced traders), TradingView was made available in 2022 (superior interface for newer traders with a forex screener covering 13 AUD currency pairs). Eightcap also has an AI-powered calendar that I filtered by ‘Australia’ to get insights into inflation data and balance of trade statistics, which can influence the value of the AUD.
Pricing
Our top-rated Australian forex trading platforms offer competitive pricing, especially for day traders.
We make This assessment by analyzing spreads on popular currency pairs and factoring in any additional fees, such as commission (a fixed charge often applied in raw/low-spread accounts that are popular with active traders).
Importantly, as one of the most liquid currencies in the world, AUD currency pairs often have relatively tight spreads, especially when paired with other liquid currencies, such as USD and EUR.
- Fusion Markets, according to both the firm’s marketing claims and our own assessment, is one of the cheapest forex brokers in Australia. It charges low spreads with a $2.25 per side commission. We particularly appreciate the transparency around spreads. They host a ‘Live and Historical Spread’ tool that displays the average, minimum and maximum spreads over three timeframes. For example, I found that over the past month (at the time of writing), the AUD/USD had an average spread of 0.11 pips, while the lowest was 0.04 pips.
Account Funding
We know from first-hand experience that convenient account funding can make for a smooth forex trading experience. That’s why we evaluate the selection of payment methods available, paying attention to popular local solutions, such as those in Australia.
Whilst credit cards, debit cards and wire transfers are still king in Australia, PayID is increasingly popular as it allows Aussie traders to easily check who they’re transferring to before hitting send, helping to prevent scams.
- City Index impresses with a growing list of deposit and withdrawal solutions, notably PayID, bank cards and wire transfers, plus no minimum deposit, making it a stand-out option for beginner forex traders in Australia.
FAQ
Which Is The Best Forex Trading Platform In Australia?
Use our list of the best forex trading platforms in Australia to find the broker that best meets your needs.
They all cater to Australian forex traders, but the choice is ultimately personal, depending on individual needs and preferences.
Who Regulates Australian Forex Brokers And Trading Platforms In Australia?
The Australian Securities and Investments Commission (ASIC) regulates forex brokers and trading platforms serving Australian traders.
The ASIC is a first-rate, highly active regulator that’s cracked down on the industry in recent years, shutting down unregistered firms and taking action against platforms that fail to disclose the risks of trading currencies online sufficiently.
Ultimately, Aussies will be best protected by signing up with an ASIC-regulated forex broker, though trading remains inherently risky, so only invest what you can afford to lose.
What Is The Minimum Amount I Need To Start Trading Forex In Australia?
This varies depending on the broker, but our findings show you’ll normally need between 0 and 400 AUD.
That said, we’re seeing a growing trend towards forex platforms having no minimum deposit alongside excellent educational tools, catering to beginner traders. The highest-rated following our assessment are Pepperstone and ThinkMarkets.
Recommended Reading
Article Sources
- Australian Dollar - Corporate Financial Institute
- Australia Share of Global GDP - World Economics
- PayID Uptake in Australia - Australian Banking Association
- TradeFed Forex Scam - ABC News
- Australian Securities and Investments Commission (ASIC)
- Foreign Exchange Turnover - Bank of International Settlements
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com