Brokers With AUD Accounts

The Australian Dollar (AUD), also known as the ‘Aussie’, is widely traded in the financial markets. This guide will highlight some of the top brokers with AUD accounts, the benefits of choosing a platform that accepts the Australian Dollar, plus how to compare top providers.

Brokers With AUD Accounts

These are the 5 best brokers that offer accounts with AUD as the base currency:

#1 - Forex.com

Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of day trading markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.

"Forex.com is an excellent broker for active forex traders with over 80 currency pairs, tight spreads, low commissions and powerful charting platforms for day traders. "

- DayTrading Review Team
  • Instruments: Forex, Spot Metals
  • Regulator: NFA, CFTC
  • Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
  • Min. Deposit: $100
  • Min. Trade: 0.01 Lots
  • Leverage: 1:50

Pros

  • Free demo account for prospective traders
  • Low minimum deposit of $100
  • VPS hosting for automated trading strategies

Cons

  • $15 monthly inactivity fee
  • Investment offering varies between countries
  • No copy trading platform

#2 - Interactive Brokers

Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Day traders can use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources.

"Experienced day traders seeking a regulated broker with sophisticated trading software and very low fees should look at IB. Their range of stocks also can't be beaten."

- DayTrading Review Team
  • Instruments: CFD, Forex, Stocks, Crypto, Futures, Options, Commodities
  • Regulator: SEC, FCA, IIROC, SFC
  • Platforms: AlgoTrader, OmniTrader, eSignal, TradingCentral
  • Min. Deposit: $0
  • Min. Trade: $100
  • Leverage: 1:50

Pros

  • Regulated by some of the world's most reputable bodies including in US
  • Low commissions and tight spreads
  • Gives day traders unmatched access to global stocks with tens of thousands available from 100+ market centres in 24 countries

Cons

  • Accessing products like CFDs is not straightforward compared to competitors
  • Mediocre customer support
  • Platform and web interface are complex and difficult for beginners to pick up

#3 - OANDA US

OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available, alongside flexible contract sizes and automated trade executions.

"OANDA is an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."

- DayTrading Review Team
  • Instruments: Forex, Crypto
  • Regulator: NFA, CFTC
  • Platforms: MT4, TradingView, AutoChartist
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:50

Pros

  • Fast and reliable order execution
  • The OANDA web platform offers advanced price charts and graphs
  • Low minimum deposit for beginners

Cons

  • Customer support not available on the weekend

#4 - IG Group

IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.

"IG offers a superb all-round package. Beginners will appreciate the user-friendly web platform and secure trading environment while established investors will rate the 17,000+ markets and top-tier market research."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
  • Regulator: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
  • Platforms: MT4, AutoChartist, TradingCentral
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:250 (Pro)

Pros

  • Over 17,000 assets are available spanning stocks, forex, commodities, baskets, futures, options and more
  • Opening an account takes less than 5 minutes
  • IG offers great educational materials including an extensive library of training and support on how to day trade successfully

Cons

  • Inactivity charge
  • No copy trading platform

#5 - IQCent

IQCent is an offshore binary options and CFD broker based in the Marshall Islands with 10+ payment methods and a low $50 starting deposit. With 100+ assets, around the clock trading and high payouts the brand is popular with aspiring short-term traders.

"IQCent will appeal to traders looking for a powerful binary options and CFD trading platform with low fees, a range of accounts, and copy trading support."

- DayTrading Review Team
  • Instruments: Binary Options, CFDs, Forex, Indices, Commodities, Crypto
  • Regulator: IFMRRC
  • Platforms: IQCent Platform
  • Min. Deposit: $250
  • Min. Trade: $0.01
  • Leverage: 1:500 (Retail)

Pros

  • $0.01 minimum stake for newer day traders with a smaller initial budget
  • The broker offers 98% payouts on binary options, which is more than many alternatives
  • The broker's 24/7 customer support is fast and reliable, responding within 1 minute

Cons

  • It's a shame that no third-party platforms or additional analysis trading tools are offered
  • The broker is not overseen by any highly respected regulator, though this is common among binary options firms
  • Stock CFDs are not available

What Is An AUD Account?

A base currency establishes the currency in which your account is denominated. Brokers with AUD accounts simply hold your portfolio balance and trading capital in Australian Dollars. All profits and losses will be converted into the base currency selected at account registration.

Any fees will also be reflected in the Aussie Dollar. This could include inactivity charges, account maintenance fees, and commissions.

The Australian Dollar (AUD) is the currency of the Commonwealth of Australia, replacing the Australian Pound in 1966. Domestically represented by the Dollar sign ‘$’, global brokers may also show it as ‘A$’ or ‘$AU’.

The AUD is the fifth most-traded currency in the world, behind the USD, EUR, GBP and JPY. The country’s central bank, the Reserve Bank of Australia, is responsible for setting monetary policy and maintaining the financial stability of the currency.

Brokers with AUD accounts should offer the currency at the registration stage. International investors can select AUD as a trading currency – it is not available exclusively to Australian Residents.

With that said, most platforms with AUD accounts are based or regulated in Australia so tend to appeal to local traders.

Note, some brokers may not allow account currency changes once an account is opened.

Pros Of Brokers With AUD Accounts

How To Check A Broker Offers AUD Accounts

The accounts section on a broker’s website is a good place to start. Brokers with AUD accounts also typically indicate accepted currencies on the deposits and withdrawals page.

Alternatively, visit the broker’s terms and conditions or contact the customer support team. It could also be worth clarifying if there is the ability to amend base currencies once an account has been opened, including any associated fees.

Note, some brokers only allow Australian residents to register for an account in AUD, including AvaTrade and easyMarkets.

How To Compare Brokers With AUD Accounts

Below are some key considerations when comparing brokers with AUD accounts:

Always consider your strategy when deciding which broker offers the right trading environment for you.

Final Word On Brokers With AUD Accounts

Brokers with AUD accounts are suitable for investors from Australia as well as active forex traders. Many of the top platforms are licensed with the ASIC offering retail client protections.

Check out our table of the best brokers with AUD accounts to get started.

FAQ

What Are Brokers With An AUD Account?

Brokers with AUD accounts offer the Australian Dollar as the denominated currency. This means that any capital used to trade, applicable fees, margin calculations and account history, will be displayed in Aussie Dollars.

Can Anyone Sign-Up With Brokers That Offer AUD Accounts?

Usually, anyone can open an account with AUD as the base currency regardless of residency. With that said, some international brokers limit AUD accounts to Australian residents only.

Do Brokers With AUD Accounts Offer Bonuses?

Yes, the ASIC does not restrict financial incentives offered to retail clients. Many brokers offer traders a variety of loyalty enticements such as no deposit bonuses and welcome promos. Always check terms and conditions before opening a live trading account.

What Regulation Do Brokers With AUD Accounts Hold?

Most brokers with AUD accounts are regulated by the ASIC. Investors benefit from measures designed to protect retail traders, including a cap on leverage rates, segregated bank accounts and a legal channel should a platform behave inappropriately.

Who Are The Best Brokers With AUD Accounts?

You’ll need to compare all the features on offer to find a platform that suits your trading style and risk tolerance. Use our list of the top brokers with AUD accounts to get started. We’ve reviewed many of the leading providers, covering assets, fees, tools, regulation and more.