Online Brokers In Australia 2021 – Comparison & Reviews

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

Pepperstone offers CFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms.
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.
Cryptocurrency
Yes
Regulator
FCA, ASIC, SCB, DFSA, CMA, BaFin
MT4 Integration
Yes
Min. Deposit
£200 / $200
Min. Trade
0.01 Lots
Bonus
None
Reliable and affordable trading since 2009. Join over 400,000 others trading on 300+ CFD products over assets like forex, gold, indices and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage FX is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
Cryptocurrency
No
Regulator
ASIC, FCA, CIMA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Bonus
Up to 50%
A trader with a Plus500 account can trade CFDs on underlying financial instruments such as Forex, Stocks, Commodities, Cryptocurrency (Availability subject to regulation), Options and Indices. With tight spreads and no commission, they are a leading global brand. Voted #1 in UK.
Cryptocurrency
Yes
Regulator
FCA, CySec, ASIC
MT4 Integration
No
Min. Deposit
$100
Min. Trade
Varies by asset
Bonus
None
FXCC is a highly regulated and trustworthy MT4 trading broker.
Cryptocurrency
No
Regulator
CySEC, FCA
MT4 Integration
Yes
Min. Deposit
No Minimum
Min. Trade
0.01 lots
Bonus
None
FXCM are an FCA regulated, London based broker. Companies under the FXCM umbrella are also regulated in Australia and South Africa.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£300
Min. Trade
Varies by asset
Bonus
None
Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
Cryptocurrency
Yes
Regulator
CBoI, ASIC, FSB
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.
Cryptocurrency
Yes
Regulator
ASIC, VFSC
MT4 Integration
Yes
Min. Deposit
£/€/$100
Min. Trade
0.01 lots
Bonus
None
ThinkMarkets is a multi-regulated forex and CFD broker
Cryptocurrency
Yes
Regulator
FCA, ASIC, FSCA
MT4 Integration
Yes
Min. Deposit
No minimum
Min. Trade
0.01 lots
Bonus
None
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
High Risk To Capital
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
$200 ($50 in US)
Min. Trade
$1
Bonus
None
Deriv.com are a new brokerage, offering options and CFDs on a simple, reliable, flexible platform. Get access to volatility indexes exclusively at Deriv.
Cryptocurrency
No
Regulator
Malta (MFSA), Labuan (LFSA), Vanuatu (VFSC), British Virgin Islands (BFSC)
MT4 Integration
No
Min. Deposit
€/£/$5
Min. Trade
0.01 Lots
Bonus
None
BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.
Cryptocurrency
Yes
Regulator
CySec, FSC, FSA
MT4 Integration
Yes
Min. Deposit
100 $/€/£
Min. Trade
0.01 Lots
Bonus
None
PrimeXBT is a Bitcoin-based platform offering highly leveraged trading in FX, indices, commodities, & cryptocurrencies.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
No
Min. Deposit
0.001 BTC
Min. Trade
0.01 contract
Bonus
None
Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs. Their message is - Stop paying too much to trade
Cryptocurrency
Yes
Regulator
ASIC
MT4 Integration
Yes
Min. Deposit
No Minimum
Min. Trade
0.01 Lots
Bonus
None
XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service.
Cryptocurrency
No
Regulator
FCA, IFSC, CySec, ASIC
MT4 Integration
Yes
Min. Deposit
5 $/€/£
Min. Trade
0.01 Micro lots
Bonus
Free VPN Services
Markets.com offer CFDs across a huge range of assets from shares and indices to commodities and cryptocurrencies.
Cryptocurrency
Yes
Regulator
FCA, CySEC, ASIC, FSCA, FSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Axi is a global online FX and CFD trading company, trusted by 60,000+ ambitious customers in 100+ countries around the world.
72.6% of retail investor accounts lose money when trading CFDs with this provider
Cryptocurrency
Yes
Regulator
FCA, ASIC, FMA
MT4 Integration
Yes
Min. Deposit
0 $/€/£
Min. Trade
0.01 Lots
Bonus
None
Trade Forex on 0.0 pip spreads with the world's leading True ECN forex broker - IC Markets.
Cryptocurrency
Yes
Regulator
ASIC, CySec, FSA
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 Lots
Bonus
None
Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
Cryptocurrency
Yes
Regulator
NFA, CFTC, FCA, FSA, IIROC and CIMA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
easyMarkets.com - Simply Honest. Trade CFDs on Forex, Commodities, Indices, Shares & Cryptos With a Top Rated Forex Broker
Cryptocurrency
Yes
Regulator
CySec, ASIC, BVI
MT4 Integration
Yes
Min. Deposit
€100
Min. Trade
Varies by asset
Bonus
None
LegacyFX is a multi-asset broker offering an MT5 download & free signals.
Cryptocurrency
Yes
Regulator
CySEC, FCA, VFSC, NBRB
MT4 Integration
No
Min. Deposit
$500
Min. Trade
0.01 lots
Bonus
None
FXTM is a leading forex and CFD broker. Offering a huge range of markets and 6 account types, they cater to all levels of trader.
Cryptocurrency
No
Regulator
CySec, FCA and FSC of the Republic of Mauritius
MT4 Integration
Yes
Min. Deposit
From $50
Min. Trade
0.01 lots
Bonus
30% Up to $100 via Exinity Ltd
Global brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features.
Cryptocurrency
No
Regulator
CFTC, NFA, IIROC, FCA, MAS, ASIC, FFAJ, BVI
MT4 Integration
Yes
Min. Deposit
$0
Min. Trade
$0
Bonus
None
FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads.
Cryptocurrency
Yes
Regulator
IFSC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
15% deposit bonus with Bitcoin payments
Bit Mex Offer the largest market liquidity of any Crypto exchange. Ultra low trading costs and minimum deposit requirements. Join in 30 seconds.
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
0.0001 XBT
Min. Trade
0.0001 XBT
Bonus
None
Multi-Award winning broker. Specialising in Forex but also offering stocks and tight spreads on CFDs and Spread betting across a huge range of markets.
Cryptocurrency
Yes
Regulator
CySec, FCA, SCB, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 Lots
Bonus
None
Axiory is a regulated forex & CFD broker offering tight spreads & leveraged trading.
Cryptocurrency
No
Regulator
IFSC Belize
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
None
Coinbase is the easiest place to buy, sell, and manage your cryptocurrency portfolio.
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Cryptocurrency
Yes
Regulator
CBoI
MT4 Integration
No
Min. Deposit
0 $/€/£
Min. Trade
0.0001 XBT
Bonus
None
Trade Nation is a top FX and CFD broker regulated in multiple jurisdictions incl the UK and Australia. They boast tight spreads and no minimum deposit.
Cryptocurrency
No
Regulator
FCA, ASIC, FSCA and SCB
MT4 Integration
Yes
Min. Deposit
No minimum
Min. Trade
0.1 lots
Bonus
1,000 sign-up reward points
Quotex offers a proprietary web platform that offers digital options and copy trading.
Cryptocurrency
Yes
Regulator
IFMRRC
MT4 Integration
No
Min. Deposit
$10
Min. Trade
$1
Bonus
40% deposit bonus
SpreadEx offer spread betting on Financials with a range of tight spread markets. Popular award winning, UK regulated broker.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
$1
Min. Trade
$1
Bonus
None
A regulated bank, Saxobank offer Equities and Forex trading on 40,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms
Cryptocurrency
No
Regulator
Danish FSA, FCA and Others
MT4 Integration
No
Min. Deposit
$3000
Min. Trade
Vary by asset
Bonus
None
GO Markets is an ASIC-regulated FX & CFD broker.
Cryptocurrency
Yes
Regulator
ASIC
MT4 Integration
Yes
Min. Deposit
$200
Min. Trade
0.01 lots
Bonus
30% deposit bonus
Established spread betting, forex and CFD broker with over 30 years in the business. Regulated around the globe.
Cryptocurrency
Yes
Regulator
ASIC,FCA
MT4 Integration
Yes
Min. Deposit
£/$100
Min. Trade
0.01 Lots
Bonus
£1000 Switch Bonus For Professional Traders
NinjaTrader offer Traders Futures and Forex trading. Use Auto-trade algorithmic strategies and configure your own trading platform, and trade at the lowest costs.
Cryptocurrency
No
Regulator
NFA, CFTC
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
Varies by asset
Bonus
None
IG offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have a 40 year track record of excellence.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£250
Min. Trade
£1
Bonus
None
Dukascopy is a Swiss-based forex, CFD, and binary options broker
Cryptocurrency
Yes
Regulator
FINMA, FCMC, JFSA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
10% equity bonus
Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.
Cryptocurrency
Yes
Regulator
MGA
MT4 Integration
Yes
Min. Deposit
$5
Min. Trade
$1
Bonus
None
UFX are forex trading specialists but also have a number of popular stocks and commodities. Offering tight spreads and one of the best ranges of major and minor pairs on offer, they are a great option for forex traders.
Cryptocurrency
No
Regulator
CySec
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
$1
Bonus
None
Ayondo offer trading across a huge range of markets and assets. They also offer negative balance protection and social trading.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£1
Min. Trade
£1
Bonus
None
NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Open account from just $10.
Cryptocurrency
Yes
Regulator
VFSC, CySec
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
$1
Bonus
None
OKEx is a digital exchange offering trading on hundreds of cryptos across desktop and mobile applications with low fees.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
10 USDT
Min. Trade
Variable
Bonus
$10 in BTC
Spectre.ai is a blockchain-based binary options broker
Cryptocurrency
Yes
Regulator
St. Vincent and the Grenadines
MT4 Integration
No
Min. Deposit
No minimum
Min. Trade
$1
Bonus
None
EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
Yes
Min. Deposit
$10
Min. Trade
0.01 lots
Bonus
None
Gemini is a leading crypto trading exchange with low fees and a long list of altcoins.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
None
Min. Trade
0.00001 BTC
Bonus
None
HFTrading is an MT4 broker offering a secure trading environment with competitive fees.
Cryptocurrency
Yes
Regulator
ASIC, FMA
MT4 Integration
Yes
Min. Deposit
$250
Min. Trade
0.01 lots
Bonus
None
Trade.com offers thousands of tradable assets on desktop and mobile platforms.
Cryptocurrency
Yes
Regulator
FCA, CySEC, FSCA
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Global Prime is a multi-regulated trading broker offering 100+ markets.
Cryptocurrency
Yes
Regulator
ASIC, VFSC, FSA
MT4 Integration
Yes
Min. Deposit
AUD $200
Min. Trade
0.01 lots
Bonus
None
Binance is one of the leading online crypto exchanges offering Bitcoin.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
No minimum
Min. Trade
$10
Bonus
None
Trade on the financial markets with low cost, leveraged products at HYCM.
Cryptocurrency
No
Regulator
FCA, DFSA, CIMA, CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
10% deposit bonus up to $5,000
OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
Cryptocurrency
Yes
Regulator
CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
50% deposit bonus
FBS is a top online broker offering MT4 & MT5 trading across a range of instruments.
Cryptocurrency
No
Regulator
IFSC, CySEC, ASIC, FSCA
MT4 Integration
Yes
Min. Deposit
$1
Min. Trade
0.01 lots
Bonus
$100 welcome bonus
Core Spreads offers CFD trading and spread betting across several asset classes on two top-tier platforms.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
No minimum
Min. Trade
0.01 lots
Bonus
None
LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
Cryptocurrency
No
Regulator
None
MT4 Integration
Yes
Min. Deposit
$20
Min. Trade
0.01 lots
Bonus
100% deposit bonus up to $20,000
LMFX offers online forex and stock trading with low fees and high leverage.
Cryptocurrency
No
Regulator
None
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
100% deposit bonus up to $30,000
StormGain provides an online crypto trading platform & cloud mining tool.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
50 USDT
Min. Trade
10 USDT
Bonus
Deposit bonus up to 20%
Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
From 0.005 BTC
Min. Trade
10 USD
Bonus
None
Fortrade is a multi-asset broker offering a simple live account with advanced tools.
Cryptocurrency
Yes
Regulator
FCA, ASIC, CySEC, NBRB, IIROC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
FP Markets is a multi-asset broker offering a choice of trading platforms.
Cryptocurrency
Yes
Regulator
ASIC, CySEC
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
None
Infinox is a UK-based broker offering MT4 trading with tight spreads.
Cryptocurrency
No
Regulator
FCA
MT4 Integration
Yes
Min. Deposit
£1
Min. Trade
0.01 lots
Bonus
None
Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing huge flexibility to suit any trader.
Cryptocurrency
No
Regulator
FCA, ASIC, FSC, FMA, FSA, CGSE, JSC
MT4 Integration
Yes
Min. Deposit
No minimum
Min. Trade
0.01 lots
Bonus
None
FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.
Cryptocurrency
Yes
Regulator
FCA, ASIC
MT4 Integration
Yes
Min. Deposit
$300
Min. Trade
0.01 lots
Bonus
$10 no deposit bonus (non-UK traders)
LiteForex Investments Limited is a regulated Forex & CFD broker offering the MT4 & MT5 trading platforms.
Cryptocurrency
Yes
Regulator
Marshall Islands
MT4 Integration
Yes
Min. Deposit
$50
Min. Trade
0.01 lots
Bonus
Rebate on payment fees
AGEA is a regulated forex & CFD broker offering multiple trading platforms and account types.
Cryptocurrency
Yes
Regulator
Commission for Capital Markets
MT4 Integration
Yes
Min. Deposit
$1
Min. Trade
0.01 lots
Bonus
$5 no deposit bonus
IronFX offers online trading in forex, stocks, futures, commodities and cryptocurrencies
Cryptocurrency
Yes
Regulator
FCA, CySEC, ASIC, FSB
MT4 Integration
Yes
Min. Deposit
$100
Min. Trade
0.01 lots
Bonus
100% Sharing Bonus - double first deposit
Bitfinex is among the best crypto exchanges for experienced traders with a free mobile trading app and low fees.
Cryptocurrency
Yes
Regulator
None
MT4 Integration
No
Min. Deposit
$10,000
Min. Trade
$10
Bonus
None
Kraken is a top crypto trading exchange offering the largest altcoins by market cap.
Cryptocurrency
Yes
Regulator
FCA, FinCEN, FINTRAC, AUSTRAC, FSA
MT4 Integration
No
Min. Deposit
0.0001 XBT
Min. Trade
0.0002 XBT
Bonus
None
Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
Cryptocurrency
Yes
Regulator
HCMC
MT4 Integration
Yes
Min. Deposit
$1 to $300 (Broker choice dependent)
Min. Trade
$1
Bonus
None
Forex broker Videforex accepts deposits in a range of cryptocurrencies. Payouts reach 95% per trade.
Cryptocurrency
Yes
Regulator
Unregulated
MT4 Integration
No
Min. Deposit
$250
Min. Trade
$1
Bonus
100% deposit bonus up to $3,000
Fondex is an award-winning forex and CFD broker with industry low trading costs
83.57% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cryptocurrency
No
Regulator
FSA, CySEC
MT4 Integration
No
Min. Deposit
$0
Min. Trade
0.01 lots
Bonus
None
Deposit and trade with a Bitcoin funded account! Binarycent accept deposits in, and trade, 15+ Cryptocurrency types.
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
$250
Min. Trade
$.01
Bonus
20% to 100%
Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ
Cryptocurrency
Yes
Regulator
MT4 Integration
No
Min. Deposit
€/£/$100
Min. Trade
€/£/$100
Bonus
None
Trading 212 Offer a truly mobile trading experience. With tight spreads and a huge range of markets, they offer a dynamic and detailed trading environment. Recent customer care issues have severely damaged the reputation of the brand.
Cryptocurrency
Yes
Regulator
FCA
MT4 Integration
No
Min. Deposit
€/£/$1
Min. Trade
0.01 Lots
Bonus
None
Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
Cryptocurrency
Yes
Regulator
FINRA, SIPC, NFA
MT4 Integration
Yes
Min. Deposit
£2500
Min. Trade
1 contract
Bonus
None
Alpari offer forex and CFD trading across a big range of markets with low spreads and a range of account types that deliver for every level of trader from beginner to professional.
Cryptocurrency
Yes
Regulator
FSC of Maritius
MT4 Integration
Yes
Min. Deposit
From $/£/€ 5
Min. Trade
0.01 Lots
Bonus
30% Up to $100. Terms Apply
Show All Brokers ⇩

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.

Fees

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

Markets

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:

  • Forex – The top AUD pairs are AUD/USD, EUR/AUD, AUD/CAD and AUD/CHF. Trading forex is legal in Australia, but unlike some countries with less stringent requirements, brokers must be regulated by the Australian Securities and Investments Commission (ASIC).
  • ETFs & stocks – There are over 2,500 equities listed on the Australian Stock Exchange (ASX). If you’re looking to buy or sell shares in a major publicly traded company in Australia, you’ll need to find a broker which offers exchange access or CFDs on equities.
  • Indices – The S&P/ASX 200 is Australia’s most popular index. Other indices include the ASX All Ordinaries and S&P/ASX 300.
  • Cryptocurrencies – Investing in Bitcoin and other cryptocurrencies is legal in Australia. These assets are treated as property and are subject to the AML/CTF Act of 2006. Digital currency exchanges must also be registered with AUSTRAC.

Tools

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.

Regulation

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.

ASIC Logo

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.

Leverage

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

  • CFDs referencing an exchange rate for a major currency pair – 1:30
  • CFDs referencing an exchange rate for a minor currency pair, gold or a major stock market index – 1:20
  • CFDs referencing a commodities or a minor stock market index – 1:10
  • CFDs referencing cryptocurrencies – 1:2
  • CFDs referencing stocks and shares – 1:5

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.

Security

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.

FAQs

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.