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Best Day Trading Platforms and Brokers in Australia 2024

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Written By
Jemma Grist
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Written By
Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
» Jemma Grist Profile Page
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Fact Checked By
James Barra
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Fact Checked By
James Barra
James is an investment writer with a background in financial services. As a former management consultant, he has worked on major operational transformation programmes at prominent European banks. James authors, edits and fact-checks content for a series of investing websites.
» James Barra Profile Page
Updated
Jun 30, 2024

The best brokers in Australia offer low fees, a range of day trading tools and favorable execution. Importantly, many platforms deliver conditions that ensure secure and convenient day trading for Aussie clients, including oversight from the Australian Securities and Investments Commission (ASIC) and live accounts in AUD.

We also like to see platforms that offer excellent exposure to Australian markets, including the Australian Securities Exchange (ASX) and popular Aussie currency pairs like AUD/USD.

Our analysts have thoroughly tested hundreds of platforms and compiled a list of the best brokers for day trading in Australia. Many firms are ASIC-regulated and consistently top our rankings.

Top 10 Platforms For Day Trading In Australia

Our tests show that these are the 10 best day trading brokers in Australia:

Click a broker for details
  1. 1
    Pepperstone
    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
    Ratings
    4.6 / 5
    4 / 5
    3.8 / 5
    4.4 / 5
    4.4 / 5
    4.6 / 5
    4.3 / 5
    4 / 5
    4.4 / 5
    4.1 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
    MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
    Visa, Mastercard, Credit Card, Debit Card, PayPal, Wire Transfer, POLi, UnionPay, BPAY, Neteller, Skrill
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
    Go To Pepperstone
  2. 2
    IC Markets
    Ratings
    4.6 / 5
    4 / 5
    3.5 / 5
    4.6 / 5
    4 / 5
    4.5 / 5
    4 / 5
    3.5 / 5
    3.1 / 5
    4.2 / 5
    $200
    0.01 Lots
    1:30 (Retail), 1:500 (Pro)
    ASIC, CySEC, FSA, CMA
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
    MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
    PayPal, Skrill, Neteller, Visa, UnionPay, Wire Transfer, Rapid Transfer, Mastercard, POLi, BPAY, Credit Card, Klarna, Swift, SafeCharge
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
    Go To IC Markets
  3. 3
    AvaTrade
    Ratings
    4.8 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    4.3 / 5
    4.3 / 5
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4 / 5
    $100
    0.01 Lots
    1:30 (Retail) 1:400 (Pro)
    ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
    WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
    Skrill, Wire Transfer, FasaPay, Mastercard, Perfect Money, Swift, MoneyGram, Credit Card, WebMoney, JCB Card, Debit Card, Neteller, Boleto
    USD, EUR, GBP, CAD, AUD
    Go To AvaTrade
  4. 4
    Fusion Markets
    Ratings
    3.5 / 5
    4 / 5
    3.3 / 5
    4.4 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    1.3 / 5
    4.8 / 5
    4.4 / 5
    $0
    0.01 Lots
    1:500
    ASIC, VFSC, FSA
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    MT4, MT5, cTrader, TradingView, DupliTrade
    Visa, Skrill, Neteller, Mastercard, PayPal, Bitcoin Payments, FasaPay, Perfect Money, Doku Wallet, Wire Transfer, Credit Card, Debit Card, Dragonpay, Sticpay, Ethereum Payments, TransferWise, AstroPay, PayID, JetonCash
    USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD
    Go To Fusion Markets
  5. 5
    CityIndex
    All trading involves risk. Ensure you understand those risks before trading.
    Ratings
    4.4 / 5
    4.5 / 5
    4.6 / 5
    4.3 / 5
    4.4 / 5
    4.2 / 5
    4.5 / 5
    4.4 / 5
    3.8 / 5
    2.8 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
    ASIC, FCA, MAS
    CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds
    MT4, TradingView, TradingCentral
    PayNow, Wire Transfer, Mastercard, BPAY, Credit Card, PayID, Debit Card, Visa, PayPal
    USD, EUR, GBP, AUD, CZK
    Go To CityIndex
  6. 6
    XM
    Ratings
    4.3 / 5
    4.5 / 5
    4.3 / 5
    4.3 / 5
    4 / 5
    4.5 / 5
    4.5 / 5
    4.5 / 5
    4.7 / 5
    3.9 / 5
    $5
    0.01 Lots
    1:30
    ASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF, KNF
    Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
    MT4, MT5
    Credit Card, Debit Card, Skrill, Neteller, Wire Transfer, Perfect Money, Apple Pay, Google Wallet, TransferWise, Visa, M-Pesa
    USD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF
    Go To XM
  7. 7
    Eightcap
    Ratings
    4.3 / 5
    4 / 5
    3.6 / 5
    3.8 / 5
    4.3 / 5
    4 / 5
    3.5 / 5
    3.5 / 5
    4.8 / 5
    4.4 / 5
    $100
    0.01 Lots
    1:30
    ASIC, FCA, CySEC, SCB, CNMV
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    MT4, MT5, TradingView
    Neteller, Skrill, Visa, UnionPay, Credit Card, Debit Card, Bitcoin Payments, Wire Transfer, FasaPay, BPAY, PayPal, Dragonpay, PIX Payment
    USD, EUR, GBP, CAD, AUD, NZD, SGD
    Go To Eightcap
  8. 8
    eToro
    eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital At Risk. See eToro T&Cs.
    Ratings
    4.8 / 5
    4 / 5
    4.5 / 5
    3 / 5
    4 / 5
    3.5 / 5
    4.5 / 5
    4.5 / 5
    4.8 / 5
    4 / 5
    $100
    $10
    FCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF
    CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs
    eToro Web, CopyTrader, TradingCentral
    Visa, Skrill, Neteller, Wire Transfer, Rapid Transfer, Swift, Debit Card, iDeal, Klarna, Sofort, Trustly, Przelewy24
    USD
    Go To eToro
  9. 9
    FOREX.com
    20% Welcome Bonus Up To $5000
    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5
    $100
    0.01 Lots
    1:400
    NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA
    Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
    Go To FOREX.com
  10. 10
    Trade Nation
    200 Sign-Up Reward Points
    84% of retail investor accounts lose money when trading CFDs with this provider.
    Ratings
    4.3 / 5
    4.5 / 5
    3.5 / 5
    4.5 / 5
    4.3 / 5
    4.5 / 5
    3.8 / 5
    3.8 / 5
    4.1 / 5
    0 / 5
    $0
    0.1 Lots
    1:500 (entity dependent)
    FCA, ASIC, FSCA, SCB, FSA
    Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only)
    MT4
    Credit Card, Visa, Mastercard, Wire Transfer, Skrill, PayPal, Debit Card
    USD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK
    Go To Trade Nation

This is why we think these brokers are the best in this category:

  1. Pepperstone - Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
  2. IC Markets - IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
  3. AvaTrade - AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
  4. Fusion Markets - Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.
  5. CityIndex - City Index is an established and award-winning forex, CFD and spread betting broker with top-tier global regulation, including in the UK (FCA) and Australia (ASIC). With 30+ years in the industry, 13,500+ instruments and 24/5 customer support, City Index is a solid pick for aspiring traders.
  6. XM - XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.
  7. Eightcap - Eightcap is a multi-regulated forex and CFD broker established in Australia in 2009. The broker has proven popular with active day traders, providing 800+ instruments with tight spreads and notable improvements in recent years, integrating the leading TradingView platform, alongside AI-powered financial calendars and algo trading tools with zero coding experience required.
  8. eToro - eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 51% of retail CFD accounts lose money.
  9. FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
  10. Trade Nation - Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions including the UK and Australia. The firm offers low-cost fixed and variable spreads on 1000+ assets with robust trading platforms and training materials. The Signal Centre can also be used for trade ideas.

Best Day Trading Platforms and Brokers in Australia 2024 Comparison

Best Day Trading Platforms and Brokers in Australia 2024 Comparison
Broker ASIC Regulated AUD Account Minimum Deposit Markets Platforms Leverage
Pepperstone logo
✔ ✔ $0 CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade 1:30 (Retail), 1:500 (Pro)
IC Markets logo
✔ ✔ $200 CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade 1:30 (Retail), 1:500 (Pro)
AvaTrade logo
✔ ✔ $100 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade 1:30 (Retail) 1:400 (Pro)
Fusion Markets logo
✔ ✔ $0 CFDs, Forex, Stocks, Indices, Commodities, Crypto MT4, MT5, cTrader, TradingView, DupliTrade 1:500
CityIndex logo
✔ ✔ $0 CFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds MT4, TradingView, TradingCentral 1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
XM logo
✔ ✔ $5 Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures MT4, MT5 1:30
Eightcap logo
✔ ✔ $100 CFDs, Forex, Stocks, Indices, Commodities, Crypto MT4, MT5, TradingView 1:30
eToro logo
✔ - $100 CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs eToro Web, CopyTrader, TradingCentral -
FOREX.com logo
✔ ✔ $100 Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral 1:400
Trade Nation logo
✔ ✔ $0 Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only) MT4 1:500 (entity dependent)

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

Demo AccountYes
InstrumentsCFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
RegulatorFCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
PlatformsMT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
  • Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.
  • Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.

Cons

  • 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.
  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
  • 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.
Visit Pepperstone
Pepperstone Review

IC Markets

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

Christian Harris, Reviewer

IC Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
RegulatorASIC, CySEC, FSA, CMA
PlatformsMT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
Minimum Deposit$200
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:500 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD

Pros

  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
  • IC Markets offers among the tightest spreads in the industry, with 0.0-pip spreads on major currency pairs, making it especially cost-effective for day traders.

Cons

  • While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • The breadth and depth of tutorials, webinars and educational resources still need work, trailing alternatives like CMC Markets and reducing its suitability for beginners.
Visit IC Markets
IC Markets Review

AvaTrade

"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."

Jemma Grist, Reviewer

AvaTrade Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
RegulatorASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM
PlatformsWebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30 (Retail) 1:400 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD

Pros

  • Day traders can access stable spreads and zero commissions with no hidden fees
  • The broker offers reliable 24/5 multilingual customer support with fast response times during testing
  • Recently introduced AvaFutures offers an alternative vehicle to speculate on over 35 markets with low day trading margins

Cons

  • A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
  • Traders from the US are not accepted
  • There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
Visit AvaTrade
AvaTrade Review

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."

Jemma Grist, Reviewer

Fusion Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorASIC, VFSC, FSA
PlatformsMT4, MT5, cTrader, TradingView, DupliTrade
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, 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 continues to impress with its pricing that provides tight spreads with below-average commissions that will appeal to active day traders.

Cons

  • Traders outside of Australia must sign up with weakly regulated global entities with limited safeguards and no negative balance protection.
  • 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.
Visit Fusion Markets
Fusion Markets Review

CityIndex

"City Index is best for new and intermediate traders looking for a wide selection of assets on user-friendly platforms."

Tobias Robinson, Reviewer

CityIndex Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Cryptos, Options, Commodities, Bonds
RegulatorASIC, FCA, MAS
PlatformsMT4, TradingView, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:50 (Accredited Investor), 1:200 (Sophisticated Investor), 1:300 (Wholesale Investor), 1:400 (Professional Trader). Varies with jurisdiction.
Account CurrenciesUSD, EUR, GBP, AUD, CZK

Pros

  • Thousands of instruments including thematic indices and interest rates that are not available at many alternatives
  • Extended hours trading on 70+ popular shares including Amazon and Tesla
  • Tight spreads from 0.5 pips on EUR/USD and competitive commissions on CFD shares

Cons

  • US traders not accepted
  • No Islamic account for Muslim traders
  • Cryptocurrency trading not available in all locations
Visit CityIndex
CityIndex Review

XM

"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."

William Berg, Reviewer

XM Quick Facts

Demo AccountYes
InstrumentsForex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures
RegulatorASIC, CySEC, DFSA, FSC, FSCA, CNMV, AMF, KNF
PlatformsMT4, MT5
Minimum Deposit$5
Minimum Trade0.01 Lots
Leverage1:30
Account CurrenciesUSD, EUR, GBP, AUD, JPY, ZAR, CHF, SGD, PLN, HUF

Pros

  • Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools
  • XM is a hugely respected broker authorized by tier-one regulators
  • XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights

Cons

  • There's $5 inactivity fee after only 3 months, though this won't affect active traders
  • There is weak regulatory oversight through the global entity
  • PayPal deposits are not supported
Visit XM
XM Review

Eightcap

"Eightcap delivers in every area for day traders with a growing selection of charting platforms, education via Labs, and AI-powered tools. Now sporting 120+ crypto CFDs, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

Christian Harris, Reviewer

Eightcap Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, Crypto
RegulatorASIC, FCA, CySEC, SCB, CNMV
PlatformsMT4, MT5, TradingView
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:30
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

  • Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
  • With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.
  • After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.

Cons

  • Despite a useful library of educational guides and e-books in Labs, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
  • In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.
  • The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
Visit Eightcap
Eightcap Review

eToro

"eToro's social trading platform leads the pack with a terrific user experience and active community chat that can help beginners find opportunities. There are also competitive fees on thousands of CFDs and real stocks, plus excellent rewards for experienced strategy providers."

Christian Harris, Reviewer

eToro Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs
RegulatorFCA, ASIC, CySEC, FSA, FSRA, MFSA, CNMV, AMF
PlatformseToro Web, CopyTrader, TradingCentral
Minimum Deposit$100
Minimum Trade$10
Account CurrenciesUSD

Pros

  • The web platform and mobile app perform better in user reviews and app rankings than top competitors, including AvaTrade
  • The broker's services are great for beginners, with commission-free stock trading, a low minimum deposit and an unlimited demo
  • eToro is a world-renowned brand with top-tier global regulation and a 25M+ user community

Cons

  • There are no guaranteed stop loss orders which would be a useful risk management feature for beginners
  • There are limited contact methods aside from the in-platform live chat
  • Traders will face currency conversion fees for account denominations other than USD
Visit eToro
eToro Review

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."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus Offer20% Welcome Bonus Up To $5000
Demo AccountYes
InstrumentsForex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto
RegulatorNFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:400
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
  • 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.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.

Cons

  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
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FOREX.com Review

Trade Nation

"Trade Nation is a good choice for newer traders looking for a wide range of financial markets on a user-friendly platform. There is no minimum deposit, free funding options and strong education."

William Berg, Reviewer

Trade Nation Quick Facts

Bonus Offer200 Sign-Up Reward Points
Demo AccountYes
InstrumentsForex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Cryptos (Bahamas Entity Only)
RegulatorFCA, ASIC, FSCA, SCB, FSA
PlatformsMT4
Minimum Deposit$0
Minimum Trade0.1 Lots
Leverage1:500 (entity dependent)
Account CurrenciesUSD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK

Pros

  • A choice of trading platforms and apps, including MT4, make the brand a good fit for savvy traders
  • Trade Nation is a multi-regulated and respected broker that previously operated as Core Spreads
  • The trading firm offers tight spreads and a transparent pricing schedule

Cons

  • Fewer legal protections with offshore entity
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Trade Nation Review

Choosing A Day Trading Broker In Australia

Leveraging the decades of industry experience across our expert team, we prioritize several conditions when choosing the best day trading platforms:

Regulation and Trust

Choose a reputable day trading platform that you can trust.

A trustworthy broker will be authorized by a reputable regulator and will be transparent about any measures it has in place to protect you from unfair trading practices and scams.

Unfortunately, some incidents have gained infamy in Australia in recent years, including the brutal ‘Pig Butchering’ scam, which made up 31% of reported scams in 2023.

In this highly manipulative scam, the fraudsters built trust with the victim over a prolonged period before pushing them into fake investment opportunities. This method of going for the ‘full hog’ is particularly malicious since it targets lonely or vulnerable people.

That’s why we always check whether the broker is regulated by a ‘green tier’ authority, such as the Australian Securities and Investments Commission (ASIC). Looking for this, combined with strong industry credentials and a long track record, are priorities during our routine tests.

The ASIC has strict measures in place to monitor day trading brokers operating in Australia, including enforcement proceedings and civil penalties.

To help protect consumers, it also runs the Moneysmart website which contains comprehensive advice on financial planning, online safety and scams.

author image
Jemma Grist
Author
ASIC register showing AvaTrade license
AvaTrade License – ASIC
  • AvaTrade maintains its position as one of the most heavily regulated platforms, with licenses from several top-tier authorities, including the ASIC. It also boasts a stellar industry reputation.

Day Trading Fees

Opt for a low-cost broker with competitive pricing.

If you’re an active day trader, keeping transaction costs low will be important to you.

We look out for brokerages that offer the full trading package at a low overall cost. This includes competitive trading fees, from low spreads and commissions to zero funding fees.

Spreads on popular currency pairs at Fusion Markets, including AUD/USD
Fusion Markets – Forex Spreads

If certain parts of the service are paid for, then we also take into account the quality of the resources or tools provided. It can often be worth paying for top-quality charting tools, for example, if it saves you time and increases your potential for success.

  • Fusion Markets remains one of the lowest-cost brokers that we’ve evaluated, especially for Aussie day traders. Alongside a $0 minimum deposit, you can expect forex commissions as low as $2.25 per side, plus spreads from 0.0 pips on AUD/USD.

Charting Platforms and Apps

Choose a user-friendly platform with a range of short-term trading tools.

To ensure an optimum day trading environment, pick a broker that delivers comprehensive charting tools for technical analysis.

In particular, we prioritize brokers that offer a good selection of indicators and drawing tools. Familiarizing yourself with a range of volatility tools, moving averages and technical studies, for example, can help you uncover short-term market opportunities.

MT4 platform at Pepperstone, showing list of technical indicators
Pepperstone – MT4 Platform
  • Pepperstone is an excellent choice here, with a leading range of charting platforms and third-party analysis tools, including MetaTrader 4 (MT4), cTrader, and Autochartist. Whether you trade on the go or execute complex algo strategies, there’s something for everyone at this broker.

Tradable Assets

Pick a broker that offers a diverse range of day trading markets.

Having access to a wide range of assets will allow you to build a diversified portfolio, hedge against risks and gain confidence trading the financial markets.

Infographic showing popular Australian day trading markets
Day Trading Markets

For Australian traders, we look out for popular currency pairs like AUD/USD and GBP/AUD, as well as stock markets like the Australian Securities Exchange (ASX).

Most top brokers typically offer trading via contracts for difference (CFDs). These are short-term derivative products that allow you to speculate on price movements without taking ownership of the asset.

List of Australian share CFDs available at Vantage
Vantage – Share CFDs
  • Vantage continues to offer a strong range of 1000+ assets for Australian day traders, including popular currencies and commodities like gold and silver against the AUD, plus dozens of ASX-listed share CFDs.

Execution Speed and Quality

Consider the broker’s execution policy and whether it will optimize your day trading strategies.

This will include the likelihood, quality and speed of execution which, when performing optimally, will ensure the best possible conditions for short-term strategies.

Premium trading and execution conditions at IC Markets
IC Markets – Execution

The good news is that many leading brokerages with fast execution operate in Australia, and we favor those with speeds of less than 100 milliseconds.

  • IC Markets continually excels in this category, with orders executed in around 35 milliseconds. Experienced short-term traders can also access a VPS subscription which delivers ultra-low latency and reduced slippage.

Leverage and Margin Requirements

Make sure the broker has transparent leverage and margin requirements.

Trading with leverage appeals to many day traders looking to maximize their potential returns with a small initial deposit.

That said, leverage trading is inherently risky, so it’s important to register with a broker that is transparent about their margin requirements.

  • OANDA is an excellent choice for Australian traders looking for a trustworthy ASIC-regulated broker that provides margin rates up-front. The broker also offers guaranteed stop-loss orders (GSLO) plus additional margin relief for pro traders.

Minimum Account Deposit

Choose a broker with an affordable minimum deposit requirement that suits your budget.

Anything below $500 is reasonable, though most leading Australian day trading platforms offer a minimum deposit of less than $200. This is ideal for beginners who may be on a smaller budget.

It’s also worth looking out for brokers who offer accounts denominated in AUD, which will save you exchange fees when it comes to funding.

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Tip: Consider setting up a demo account in AUD so you can practice your trading strategies and assess potential trading costs without having to put down a deposit.
  • ThinkMarkets is a great beginner-friendly option, offering a competitive AUD account with no minimum deposit requirement.

Methodology

Our approach to finding the best day trading platforms in Australia involved comprehensive qualitative and quantitative assessments of each broker. In particular:

  • We ensured that the platform accepts Australian day traders.
  • We checked for a trustworthy license from a reputable agency, such as the ASIC.
  • We focused on brokers with low day trading fees.
  • We prioritized charting platforms that cater to short-term strategies.
  • We checked the broker’s execution speeds and pricing.
  • We favored platforms with reasonable margin and leverage requirements.
  • We picked brokers that offer an affordable minimum deposit.

DayTrading.com broker testing methodology overview

Bottom Line

We’ve tested and evaluated dozens of platforms to find you the best day trading brokers in Australia.

Before signing up, check that your chosen broker is listed on the respective regulator’s website. We also recommend trying out the platform in a demo account to determine if the platform is stable, easy to use, and offers the instruments you want to trade.

FAQ

How Much Money Do I Need To Start Day Trading In Australia?

Most brokers offer live trading accounts with an initial deposit of $500 or less, with some even requiring no minimum deposit. ThinkMarkets, for example, is a great choice for beginners on a budget with zero minimum.

Who Regulates Day Trading Platforms In Australia?

The Australian Securities and Investments Commission (ASIC) is the primary regulatory authority that oversees financial markets in Australia.

We consider the ASIC a ‘green tier’ agency, which means it offers the highest standards of financial safeguarding for Australian clients.

That said, it’s important to understand the inherent risks of day trading and always ensure you have a solid risk management strategy in place.

Which Are The Best Brokers That Accept Day Traders From Australia?

Check our list of the best day trading brokers in Australia to find the right option for you. Many of these firms offer services tailored to Australian clients, including an AUD account, ASIC regulation, and a range of tradable assets popular in Australia.

Article Sources

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