Online Brokers In Australia 2023

Modern investors looking to access the financial markets can do so through an online platform. However with an overwhelming selection, we’ve listed the best online brokers in Australia below to help with your search. We also explain how to complete your own comparison, considering fees, leverage, regulation, product range and more.

Online Brokers In Australia

#1 - Vantage

Founded in 2009, Vantage offers trading on 1000+ 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 is 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 trading."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
  • Regulator: FCA, ASIC, FSCA, VFSC
  • Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade
  • Min. Deposit: $50
  • Min. Trade: 0.01 Lots
  • Leverage: 1:500


  • Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
  • The low minimum deposit of $50 and zero funding fees make this broker a great choice for new traders
  • There’s an excellent suite of trading software, including the award-winning platforms MT4 and MT5


  • Unfortunately, cryptos are only available for Australian clients
  • It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
  • The average execution speeds of 100ms to 250ms are slower than alternatives based on tests

#2 - 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, alongside a comprehensive education center and multilingual customer support.

"AvaTrade offers the full package for aspiring traders. There is powerful trading software, reliable execution, top-tier education and fast account opening with a low minimum deposit."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
  • Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA
  • Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
  • Min. Deposit: $100
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (Retail) 1:400 (Pro)


  • WebTrader is well-suited to beginners and features a strong suite of technical analysis tools, market research and integrated education
  • The broker’s unique risk management tool, AvaProtect, protects against losses up to $1 million and is easy to activate in the platform
  • AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more


  • It’s a shame that there are no rebate schemes for active traders looking for additional perks
  • A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
  • There’s a steep $50 inactivity fee after three months, which is higher than the industry average

#3 - IC Markets

IC Markets is a respected multi-asset broker offering premium trading technology, highly competitive pricing and 24/7 customer support. The broker provides various social trading features for beginners whilst experienced traders can enjoy advanced charting and analysis tools. Over 180,000 clients from more than 200 countries have signed up with the heavily regulated and trustworthy brand.

"IC Markets offers a top-class environment for traders of all experience levels and strategies. Industry-leading platforms, superior pricing and flexible accounts will meet the needs of both beginners and active day traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
  • Regulator: ASIC, CySEC, FSA
  • Platforms: MT4, MT5, cTrader, DupliTrade
  • Min. Deposit: $200
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)


  • Responsive 24/7 customer support plus an extensive help centre
  • Beginner-friendly social trading features including IC Social, Myfxbook, Zulutrade and Signal Start
  • Premium educational resources and trading tools including podcasts, forex calculators and tick charts


  • No bonus deals for new traders
  • Two-factor authentication not available for extra account security
  • Traders from the US not accepted

#4 - FXCC

FXCC is a trustworthy trading broker regulated by the CySEC. The brokerage offers ECN trading executions, spreads from zero pips and no commissions. The brand is also well-known for its welcome bonuses and trading deals, including a free VPS.

"FXCC is a good option for traders looking for wide market access with high leverage up to 1:500 and access to the reliable MetaTrader 4 platform."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Indices, Commodities, Crypto
  • Regulator: CySEC
  • Platforms: MT4
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:500


  • ECN spreads from 0.0 pips with no commission
  • 100% first deposit bonus
  • No deposit fees except industry-standard mining charges on cryptos


  • No MetaTrader 5 download
  • US traders not accepted
  • No trading on individual stocks and shares

#5 - Fusion Markets

Fusion Markets is an Australian headquartered and regulated broker that offers low-cost forex and CFD trading. Copy trading, 1:500 leverage plus multiple account types are also available, catering to traders of different experience levels and budgets. New clients can sign up and start trading in three straightforward steps.

"We recommend Fusion Markets for traders looking for the lowest fees with spreads from 0.0 pips and a $2.25 per side commission."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
  • Regulator: ASIC, VFSC
  • Platforms: MT4, MT5, cTrader, DupliTrade
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:500


  • Lower than average commissions and spreads from 0.0 pips
  • VPS solution
  • 250+ trading assets


  • Limited educational materials, videos or training resources
  • No bonuses or loyalty promotions

How To Choose Online Brokers In Australia

The top online brokers in Australia provide a number of assets to trade, including forex, cryptocurrencies and stocks and shares.

But, when selecting a broker, there’s more to the decision than what to buy and sell. Traders should also consider their investment style, how often they intend to trade and the tools available. Here are some key considerations when comparing options.


Pricing structures vary across online brokers in Australia. However, the main costs to consider are spreads and commissions. Traders who place frequent orders, such as day traders, should opt for low execution fees while investors with a long-term strategy may look at annual account fees and one-off charges.

You should also be aware of any additional fees. Online brokers in Australia may impose deposit and withdrawal fees, inactivity fees, or currency conversion fees if AUD is not offered as a base currency.

Minimum Deposit

Another important factor to note is the minimum deposit requirement. Some online brokers in Australia require a significant initial payment to open an account, while other providers don’t require any capital. These online brokers are suited to beginners who may not have a large sum of cash and do not require margin trading.

Online Broker Trading


There is a wide range of financial markets you can get involved in, but not every broker will offer every option. With that said, the best online brokers in Australia should offer a good selection of assets, especially if you want a diverse portfolio. Among the most popular markets for traders from Australia are:


A broker’s platform is where you’ll spend most of your time, which makes it an important consideration when choosing online brokers in Australia. The interface should offer a good selection of tools and technical charts that matches your skill level and strategy. For example, you may opt for a platform that offers copy trading and automated investing features.

To trade effectively, the platform you select should be easy to navigate. Investing in stocks and forex requires a quick response to market changes. Therefore, it’s vital the platform allows you to place fast and precise trades with complete ease. It should also have useful reporting tools that help you track your trades. In addition, a selection of order types, such as stop/loss orders and market/limit orders are useful for flexible investing. Finally, a mobile version of the platform will allow you to manage your trades on the go.


While not mandatory, it is highly recommended you choose a regulated online broker in Australia.

The chief regulatory body for online brokers is the Australian Securities and Investments Commission (ASIC), which has been operating since 1998. ASIC is an independent commission of the Australian Government whose role is to regulate financial service companies and enforce laws to protect Australian traders.

The top online brokers in Australia are fully regulated by ASIC, which protects you from fraud and broker insolvency. It also imposes restrictions on brokers that will limit retail trader risk. You can check whether your broker is licensed and regulated by searching the ASIC register.


Customer Support

Good customer support should be responsive to any account or technical issues. Make sure to look up operating hours – it is vital lines are open during standard market operating hours. The best online brokers in Australia will allow you to contact customer support by telephone, email or live chat. You should also expect them to respond within a few minutes for easy queries or up to two business days for those that require investigation.


As one of the most stringent global authorities, ASIC regulated online brokers in Australia must cap leverage rates in line with the below.

While leverage can multiply profits, it can also amplify losses. All regulated online brokers in Australia will offer clients negative balance protection. This protects retail traders against losses that exceed their initial deposit.

Demo Account

A risk-free way of trialling online brokers in Australia is through a free demo account. Most top providers allow you to explore the platform and test out tools with virtual funds. When you’re ready to upgrade, you can simply open a real-money account.


Traders should feel confident that the broker protects client funds and sensitive data. Trustworthy online brokers in Australia will be transparent about their security processes. Firstly, you want to make sure the website is SSL encrypted. SSL is used to secure credit card transactions, data transfer and login information. This will also reduce the likelihood of your account being hacked by third parties.

Another indicator of a secure broker is keeping client funds in segregated bank accounts. This means if the company goes bankrupt, client funds will remain safe. All regulated online brokers in Australia will segregate client funds, so look out for ASIC regulation. Accounts with illegitimate brokers also come with the risk of slow withdrawals or restrictions that make it difficult for you to access profits.

Trading Taxes In Australia

Before you start investing with an online broker in Australia, you should be aware of all tax obligations. Taxes in Australia are monitored and collected by the Australian Taxation Office (ATO). Taxes are also generally differentiated by the type of client: trader or investor.

If you are an investor who produces profits over the long term, your profits and losses are considered capital gains. These are taxable at your marginal rate. You may also be eligible for a capital gains tax discount. For example, if you hold the investment for more than 12 months, you are only taxed for 50% of all gains. However, 100% of profits earned on an investment in the first 12 months are taxable. As cryptocurrencies are treated as property in Australia, they are also subject to capital gains tax.

On the other hand, if you are a full-time day trader who engages in short term activities, your gains and losses are treated as business income. Traders who are eligible for trader tax status (TTS) can deduct expenses such as capital losses. If you are a sole trader who earns below the $18,200 threshold, you are also exempt from being taxed.

It may be worth consulting a tax advisor before you get started to understand your obligations.

Final Word; Online Brokers In Australia

There is a multitude of online brokers in Australia to choose from. However, the best one will depend on individual factors, such as capital, investing style, asset choice and platform preferences. Once you’ve refined your priorities, you can begin the search for your perfect broker. Our comparison table above provides a good starting point and our top recommendations.


What Is The Best Online Broker In Australia Today?

The best online broker is likely to vary by individual needs. However, CMC Markets is regarded as one of the top online brokers in Australia. CMC offers a wide range of products with low fees and innovative tools to suit most traders.

Who Are The Top Online Stocks And Shares Brokers In Australia?

Online stocks and shares brokers should provide access to the Australian Securities Exchange and global equities. The IG Group and Interactive Brokers are examples of online platforms with positive reviews. These providers come with low broker fees and a long list of stock options.

Who Regulates Online Brokers In Australia?

The major regulator for online brokers is the Australian Securities and Investments Commission (ASIC). This regulatory body has been operating since 1998 and continues to protect traders and investors from fraud and broker insolvency. It is highly recommended that you trade with a regulated online broker.

What Are The Best Online Forex Brokers In Australia?

The best online forex brokers in Australia include IG, Saxo Bank, eToro and CMC Markets. These providers come with low average spreads on major FX pairs and are ASIC regulated. However, each of these brokers come with varied minimum initial deposit requirements. For example, you don’t need any capital to trade with CMC Markets, while Saxo Bank calls for a deposit of up to $10,000.

Which Online Brokers In Australia Are Suitable For Beginners?

As a beginner who will likely start with less capital, you should look for online brokers in Australia with a low to zero minimum initial deposit requirement. Furthermore, ensure the broker has a responsive customer support team to answer any queries. Finally, check that their platform and tools are simple and intuitive. Some suitable online brokers in Australia include eToro, ThinkMarkets and Interactive Brokers.

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