Best Forex Brokers And Trading Platforms In Australia 2024

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Written By
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Written By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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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.

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 5 Forex Trading Platforms In Australia

Our latest tests show these brokers are the best for forex traders in Australia:

  1. 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.
  2. Eightcap - Eightcap offers 50+ currency pairs in line with the industry average but trailing category leaders like CMC Markets with its 300+ currency pairs. However, Eightcap stands out with institutional-level spreads from 0.0 pips on major pairs like the EUR/USD, alongside low $3.50/side commissions. The broker also offers rich forex data to inform trading decisions, including key fundamentals, bullish/bearish indicators and a calendar that tracks key events in the foreign exchange market.
  3. ThinkMarkets - ThinkMarkets offers 46 currency pairs, which is around the industry average. Forex traders can benefit from tight 0.0-pip spreads for EUR/USD during peak market hours. Additionally, the ThinkTrader proprietary platform offers an impressive 125+ technical indicators - ideal for complex forex strategies.
  4. 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.
  5. 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.

Best Forex Brokers And Trading Platforms In Australia 2024 Comparison

Best Forex Brokers And Trading Platforms In Australia 2024 Comparison
Broker ASIC Regulated AUD Account Forex Assets EUR/USD Spread Forex App Rating Minimum Deposit Visit
Pepperstone logo
100+ 0.1
$0 Visit
Eightcap logo
50+ 0.0
$100 Visit
ThinkMarkets logo
45+ 0.0
$0 Visit
Fusion Markets logo
90+ 0.05
$0 Visit
Vantage logo
55+ 0.0
$50 Visit
IC Markets logo
75 0.02
$200 Visit
AvaTrade logo
50+ 0.9
$100 Visit
XM logo
55+ 1.6
$5 Visit
IG logo
80+ 0.8
$0 Visit
Plus500 logo
60+ 0.6
$100 Visit logo
- 67 0.70 pips (var)
$100 Visit
Axi logo
70+ from 0.2 pips (floating)
$0 Visit
eToro logo
- 55 0.9
$50 Visit
DNA Markets logo
40+ 1.0
$100 Visit
Ingot Brokers logo
30+ From 0 pip - $10 Visit

#1 - Pepperstone

Why We Chose 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.

"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."

- DayTrading Review Team
  • 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

#2 - Eightcap

Why We Chose 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 1,000+ 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.

"Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row."

- DayTrading Review Team
  • GBPUSD Spread: 0.1
  • EURUSD Spread: 0.0
  • EURGBP Spread: 0.1
  • Total Assets: 50+
  • Leverage: 1:30
  • Platforms: MT4, MT5, TradingView

#3 - ThinkMarkets

Why We Chose ThinkMarkets

Founded in 2010, ThinkMarkets is a reputable CFD and forex broker with regulation from several top-tier bodies including the FCA and ASIC. The broker provides services to over 450,000 accounts from 11 global offices. Traders can use a bespoke platform, MT4 or MT5 to access a wide variety of assets including 3500+ stocks and ETFs, 46 forex pairs and over 20 cryptocurrencies.

"With its diverse asset list, competitive fees and superb charting software, ThinkMarkets maintains its position as a top choice for most CFD traders. That said, experienced traders will particularly appreciate the range of advanced tools, including forex signals and VPS solutions."

- DayTrading Review Team
  • GBPUSD Spread: 0.3
  • EURUSD Spread: 0.0
  • EURGBP Spread: 0.0
  • Total Assets: 45+
  • Leverage: 1:500
  • Platforms: ThinkTrader, MT4, MT5, AutoChartist, TradingCentral

#4 - Fusion Markets

Why We Chose 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.

"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."

- DayTrading Review Team
  • GBPUSD Spread: 0.13
  • EURUSD Spread: 0.05
  • EURGBP Spread: 0.09
  • Total Assets: 90+
  • Leverage: 1:500
  • Platforms: MT4, MT5, cTrader, TradingView, DupliTrade

#5 - Vantage

Why We Chose Vantage

Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.

"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."

- DayTrading Review Team
  • GBPUSD Spread: 0.5
  • EURUSD Spread: 0.0
  • EURGBP Spread: 0.5
  • Total Assets: 55+
  • Leverage: 1:500
  • Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade

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:


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 register showing IG forex broker is regulated in Australia
IG Markets Ltd – ASIC License

ASIC-regulated forex trading platforms are required to provide several safeguards to retail investors, notably:

  • 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.

Table showing exotic AUD currency pairs on Pepperstone platform
Pepperstone – Exotic AUD Currency Pairs

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.

Having a trading plan with clearly defined entry and exit points, alongside sensible risk management parameters, is critical for successful forex day trading, regardless of the currency pair.
  • 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.


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, what doesn’t, and help you refine your forex trading strategy.

author image
James Barra

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.

Using Vantage broker to trade Australian forex pairs
Vantage App
  • 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.


Our top-rated Australian forex trading platforms offer competitive pricing, especially for day traders.

This is an assessment we make 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.

Tight spreads generally provide a good time to execute day trades, as the cost of the trade is lower and there is less chance of slippage (difference between requested and actual price).
Fusion Markets pricing tool showing spread data on the AUD/USD
Fusion Markets – Historical AUD/USD Spreads
  • 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.

Brokers with AUD accounts allow you to deposit, withdraw and trade currencies in the Australian Dollar.
  • 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.


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 sufficiently disclose the risks of trading currencies online.

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.

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