Trading GBP/AUD
The GBP/AUD is an interesting currency pair for forex trading, offering high liquidity and volatility. Making accurate predictions about the exchange rate requires understanding live chart setups and keeping an eye on the news. Here we review the pair and cover why the GBP/AUD FX rate fluctuates, how to use graph data to perform technical analysis and the history of the currencies. We also list the best GBP/AUD brokers in 2023.
GBP/AUD Trading Brokers
#1 - Forex.com
Forex.com is a leading FX broker. The brand offers a wide range of currency pairs and some of the lowest fees in the industry. Spreads on the EUR/USD come in as low as 0.0 with a $7 commission per $100k.
"Forex.com is an excellent broker for forex traders with over 80 currency pairs, tight spreads, low commissions and powerful platforms. The brand is also heavily regulated while its parent company is listed on the NASDAQ, giving it a high trust score."
- DayTrading Review Team
- GBPUSD Spread: 1.0
- EURUSD Spread: 1.0
- EURGBP Spread: 1.0
- Total Assets: 80+
- Leverage: 1:50
- Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Stocks Trading
Forex.com offers access to thousands of US, EU and UK stocks, with spreads of just 1 point. Speculate on household names as well as new IPOs. US stocks are available from just 1.8 cents per share.
About 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 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.
Pros
- Industry-leading pricing on popular forex assets starting from 0.0 pips
- Up to 15% cashback rebates for active traders
- Fast execution speed of less than 1 second
Cons
- No copy trading platform
- $15 monthly inactivity fee
- Investment offering varies between countries
#2 - NinjaTrader
NinjaTrader supports the trading of popular currencies including the EUR/USD. The trading software also offers unique features tailored to forex trading, including specific order and market windows.
"We recommend NinjaTrader for high-volume futures traders looking for low fees and premium analysis tools."
- DayTrading Review Team
- GBPUSD Spread: 1.6
- EURUSD Spread: 1.3
- EURGBP Spread: 1.6
- Total Assets: 50+
- Leverage: 1:50
- Platforms: eSignal
Stocks Trading
Stocks can be traded by connecting the NinjaTrader platform to supporting brokers. You can then take positions on large public companies and household names via advanced trading software.
Crypto Trading
Trade micro Bitcoin futures with low fees and leading charting tools. Get exposure to Bitcoin through CME Group's centralized exchange with robust risk management tools.
About NinjaTrader
NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
Pros
- Free platform access and trade simulation capabilities
- Excellent trading software for active users with bespoke widgets and indicators
- Thousands of add-ons and applications from developers in 150+ countries
Cons
- Non forex and futures trading requires signing up with partner brokers
- Withdrawal fee on some funding methods
- Premium platform tools come with an extra charge
#3 - OANDA US
OANDA offers 68 forex pairs, more than many alternatives. The broker's in-house platform also offers impressive execution speeds and a suite of advanced charting and analysis tools.
"We recommend OANDA for US traders seeking a user-friendly platform with premium market research and a straightforward joining process. OANDA is a particularly good pick if you want a heavily regulated broker with a secure trading environment."
- DayTrading Review Team
- GBPUSD Spread: 3.4
- EURUSD Spread: 1.6
- EURGBP Spread: 1.7
- Total Assets: 65+
- Leverage: 1:50
- Platforms: MT4, TradingView, AutoChartist
Crypto Trading
Speculate on the world's biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Clients can spot trade cryptocurrencies on Paxos's itBit exchange through the OANDA platform via OANDA’s partnership with Paxos. Users can trade digital currencies in a few taps through the iOS and Android mobile app.
About 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.
Pros
- US clients accepted
- Transparent pricing structure with no hidden charges
- Industry-leading platforms including MT4 and TradingView
Cons
- Customer support not available on the weekend
#4 - Webull
Webull offers a modest collection of 17 currencies, including majors like EUR/USD. Forex can be traded on the feature-rich investing app with real-time quotes and low spreads.
"Webull is best for traders looking to buy and sell stocks on a user-friendly app with zero commissions."
- DayTrading Review Team
- GBPUSD Spread: 0.4
- EURUSD Spread: 0.2
- EURGBP Spread: 0.4
- Total Assets: 15+
- Leverage: 1:4
- Platforms: Own
Stocks Trading
Webull offers a fantastic list of 2000+ US stocks, fractional shares, options, ETFs, OTC, and ADRs. There is no commission on stocks, ETFs, and options. Full extended trading hours is available while custom screeners and watchlists aid the decision making process.
Crypto Trading
Webull offers trading on popular cryptos like Bitcoin against the US Dollar. With 35+ tokens and premium analysis tools, traders can review market trends and identify opportunities in a few taps.
About Webull
Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.
Pros
- Brokerage account plus IRA
- Promotions with free stocks
- Easy-to-use investment platform and mobile app
Cons
- Day trading is limited for customers with less than $25,000 deposited
- High deposit and withdrawal wire fees for non-US residents
- Sometimes sudden changes in trading conditions
#5 - IG Group
IG offers currency trading on its award-winning web platform and mobile app. Comprehensive charts and forex analysis tools are also available through ProRealTime.
"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
- GBPUSD Spread: 0.9
- EURUSD Spread: 0.8
- EURGBP Spread: 0.9
- Total Assets: 80+
- Leverage: 1:30 (Retail), 1:250 (Pro)
- Platforms: MT4, AutoChartist, TradingCentral
CFD Trading
IG offers an impressive suite of 17,000+ CFD instruments. Negative balance protection ensures accounts cannot drop below zero while custom price alerts and the IG Academy enhance the trading experience.
Stocks Trading
IG offers 13,000+ shares, with more listed firms than most competitors. Fees are low with no commission on US stocks. Extended hours trading is also available alongside ultra-fast execution speeds of 0.014 seconds.
Crypto Trading
11 popular cryptos are available, plus two crypto crosses. A crypto index is also offered, following the value of the top 10 digital currencies by market cap. All cryptos are available via CFDs.
About 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.
Pros
- 24/5 customer support is available
- IG is an LSE-listed company with a transparent financial history and a great track record
- 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
#6 - Videforex
Trade 35 major, minor and exotic forex pairs through CFDs with floating spreads from 0.1 pips. Alternatively, binary options allow you to speculate on rising and falling prices with a fixed stake and payout.
"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts are also higher than most alternatives climbing to 98%."
- DayTrading Review Team
- GBPUSD Spread: Floating from 0.1 pips
- EURUSD Spread: Floating from 0.1 pips
- EURGBP Spread: Floating from 0.1 pips
- Total Assets: 35
- Leverage: 1:500
- Platforms: TradingView
CFD Trading
Videforex CFDs are available on forex, indices, cryptocurrencies and commodities with up to 1:500 leverage and tight spreads from near zero. CFDs incur a commission fee of 1%–2.5% and up to 5% for leveraged trades.
Stocks Trading
Trade binary options and CFDs on global stocks from US, European, Russian and Asian exchanges, as well as 37 indices covering a wide range of global markets. The access to stocks trumps many binary options brokers.
Crypto Trading
Traders can speculate on crypto prices in pairs with USD and CNY through binary options and CFDs. The range of digital currencies is fairly narrow vs alternatives but major tokens like Bitcoin are available.
About Videforex
Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
Pros
- The firm facilitates day trading and binary options for global customers
- Videforex offers transfers via a wide range of payment types, from credit cards to cryptocurrencies
- Earn up to 98% payouts on 100+ assets with the broker’s binary options
Cons
- US clients aren’t accepted due to legal restrictions
- The broker isn’t overseen by a trusted regulatory agency
- No MetaTrader 4 integration
#7 - Pocket Option
Binary and OTC options can be purchased on over 40 foreign exchange pairs. Typical payouts are also decent at 81% and users can trade forex binary options in just a couple of clicks.
"We recommend Pocket Option for aspiring binary options traders looking for copy trading services and a low minimum investment."
- DayTrading Review Team
- GBPUSD Spread: N/A
- EURUSD Spread: N/A
- EURGBP Spread: N/A
- Total Assets: 50+
- Platforms: MT5
Stocks Trading
Trade 30 of the most popular American multinational stocks including Microsoft and Google. Payouts on big brands come in at a decent 92% while indices are available up to 67%.
Crypto Trading
Pocket Option supports major cryptocurrencies on a beginner-friendly app. Over 10 leading cryptocurrencies are available with very high leverage up to 1:1000.
About Pocket Option
Founded in 2017, Pocket Option is a binary options broker offering up/down contracts on forex, stocks and cryptocurrencies. With over 100,000 active users and a global reach, the brand has proven popular with budding traders. Pocket Option also supports dozens of payment methods and has a low minimum trade of just $1.
Pros
- Welcome bonuses and coupon codes
- MT5 iOS & Android app
- Multiple strategies supported
Cons
- IFMRRC is not a reputable regulator
- Only one account type is available
- The expiration time is limited on trades
#8 - Just2Trade
Traders can access a decent range of 60+ major, minor and exotic forex pairs through standard and ECN accounts with tight spreads from 0.5 and 0.0, respectively. Execution speeds are also faster than most competitors at 50ms, which will appeal to active forex day traders.
"Traders seeking a multi-asset broker with an exceptional range of 35,000+ assets, market-leading software and low trading fees should consider Just2Trade. The Try2BFunded program will also appeal to users seeking funded trading accounts."
- DayTrading Review Team
- GBPUSD Spread: 0.0
- EURUSD Spread: 0.0
- EURGBP Spread: 0.0
- Total Assets: 50+
- Leverage: 1:20
- Platforms: MT4, MT5, TradingCentral
CFD Trading
With CFDs on 20+ Polish and 30+ US stocks, as well as energies and seven global stock indices covering US, UK, European, Australian and Japanese markets, Just2Trade offers a superb selection of global assets.
Stocks Trading
As well as Just2Trade's 50+ stock CFDs, traders can access a huge variety of thousands of stocks traded on US and international exchanges. The chance to build an investment portfolio and benefit from dividends sets Just2Trade apart from most CFD brokers.
Crypto Trading
Traders can speculate on a modest selection of the largest cryptos by market cap including Bitcoin. On the downside, crypto trading is only available to clients from Asia which is more restrictive than many alternatives.
About Just2Trade
Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
Pros
- Try2BFunded trader development program with funded accounts for clients who reach profit benchmarks
- WhoTrades social network and copy trading through Novoadvisor
- The list of 35,000+ instruments is more than almost any other broker
Cons
- Few standard educational resources compared to other brokers
- Cryptocurrency is only available in Asia
- Research tools such as stock screeners require third-party applications
#9 - Sage FX
Trade 7 major, 21 minor and 29 exotic forex pairs with high leverage and a choice between STP or ECN accounts. Support is available around the clock and the TradeLocker forex software is provided.
"Sage FX will suit forex traders looking for high leverage and ECN spreads. The broker's prop trading service will also appeal to users looking for funded accounts with up to $200K available."
- DayTrading Review Team
- GBPUSD Spread: 0.9
- EURUSD Spread: 0.9
- EURGBP Spread: 2.5
- Total Assets: 57
- Leverage: 1:500
- Platforms: TradeLocker
CFD Trading
Trade CFDs on forex, stocks, metals, energies, indices, cryptos and dollar futures. Sage FX offers tight spreads and high leverage on all instruments from 1:100 to 1:500.
Stocks Trading
Speculate on price movements of 37 US and European blue chip stock CFDs, including Adidas, Intel and Volkswagen. On the negative side, the selection of stocks is limited vs alternatives and direct share dealing isn't provided.
Crypto Trading
Trade CFDs with leverage up to 1:100 on 23 crypto pairs with USD including popular tokens like Bitcoin and Ether and lesser-known options like OMG. On the downside, crypto-only pairs are not offered.
About Sage FX
SageFX is an offshore, unregulated CFD broker that offers highly leveraged trading on forex, stocks, commodities, indices and crypto via the TradeLocker platform. Traders can access commission-free trading or an ECN account with tight spreads. While the broker's regulatory status is weak, it does provide segregated accounts and two-factor authentication.
Pros
- Low starting deposit from $10
- Flexible accounts with STP and ECN solutions available
- Ability to deposit and withdraw via Bitcoin
Cons
- Not regulated by any reputable body
- Lacks educational resources and other extra features
- Relatively narrow range of asset classes
#10 - ForexChief
ForexChief supports spot foreign exchange trading on all account types for 40+ major, minor and exotic currency pairs on the leading MT4 and MT5 platforms. Spreads are tight starting from zero and there are no dealers or requotes.
"ForexChief will prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The large welcome bonus and low starting deposit will also appeal to new traders."
- DayTrading Review Team
- GBPUSD Spread: 0.9
- EURUSD Spread: 0.4
- EURGBP Spread: 0.9
- Total Assets: 40
- Leverage: 1:1000
- Platforms: MT4, MT5
CFD Trading
ForexChief offers a competitive range of CFDs, encompassing crypto, indices, energies and metals. A clear pricing schedule is available to clients with no hidden charges. Traders can also access very high leverage up to 1:1000.
Stocks Trading
ForexChief offers 100 US company stocks CFDs for MT4 DirectFX and Classic+ account holders. Investors can speculate on the price of some of the world's largest companies, including Apple and Coca Cola. Spreads start from 5.
Crypto Trading
ForexChief supports crypto trading with five major digital currencies paired against the US dollar. Traders can bet on rising and falling prices with leveraged CFDs and market-leading trading software.
About ForexChief
ForexChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.
Pros
- A welcome deposit bonus is offered to new users
- The low minimum deposit of $10 will appeal to beginners
- STP/ECN execution with low spreads from 0.0 pips
Cons
- Weak regulatory oversight
- Limited market research
- Withdrawal fees on several payment methods
Live Chart
Why Trade GBP/AUD?
Many traders opt to buy or sell GBP/AUD each day, and there are several reasons to do so:
- Volatility – Price chart movement can be significant with this pair, and the spot rate can change with little notice. Experienced investors closely monitoring the live exchange rate can use this to their advantage and gain pips from the effect on spread values.
- Diversification – Choosing to trade on a non-major pair (i.e., without USD) allows forex investors to branch out and utilize distinct strategies to turn a profit.
- Range of financial instruments – The volume of the forex market is extensive. Thus investors can trade the GBP/AUD through many vehicles, including CFDs, options, and futures.
- Accessibility of information – GBP/AUD historical data is now freely available, and this makes investing straightforward. Traders can analyse 5, 10, or 20-year long-term charts or look at market sentiment over the last 7 days easily. Commentary and discussion forums also help new forex players make buy or sell decisions.
Risks Of Trading GBP/AUD
- Volatility – The large and sometimes unpredictable price changes in GBP/AUD can be difficult for beginners. And relying on a live currency rate forecast may not be enough to ensure success. Technical knowledge, such as pivot points and support/resistance levels, can prove key for achieving profits on volatile pairs.
- Complicated technical analysis – In today’s climate, GBP/AUD dollar investors regularly use complex conversion tools and indicators, for example, Elliott Wave analysis, to make long-term forecasts or projections for next week. Traders often have to be proficient in using chart analysis to compete against professionals and institutions who operate in the same market.
- Algorithmic trading bots – Using programs that provide automated GBP/AUD trading is now a common strategy, and so investors working manually must respond rapidly to market changes to stay competitive.
Factors Affecting GBP/AUD Price
To make an accurate GBP/AUD trend prediction for today or forecast for 2023 and beyond, it is important to understand how price is affected by economics and local events:
- Commodity exportation – Australia is a huge exporter of products such as iron ore, coal, natural gas, and gold. As such, commodity prices influence the strength of the Australian dollar and thus the GBP vs. AUD.
- Central bank monetary policy – Interest rates set by central institutions, along with any policy announcements, heavily affect the GBP/AUD outlook.
- Economic performance – The average exchange rate is likely to shift when economic growth is greater in one country, as this strengthens its currency.
We can see a mix of events that have recently impacted GBP/AUD. In May 2022, for example, the GBP was losing ground because of higher oil prices, inflation rates, the Russian-Ukrainian war, and economic recovery from the Covid-19 pandemic.
The Australian economy is also heavily based on commodities, and an increase in oil prices is beneficial. At the same time, because of its geographical position, it is less influenced by the Russia-Ukraine war. In contrast, the UK has a 9% inflation rate, which has negatively impacted consumer purchasing power. This makes the AUD a safer investment in the eyes of traders, hence why the GBP has been losing value.
Linked Currency Pairs
In addition to the influences already outlined, GBP/AUD followers can use the behavior of other currency pairs to provide real-time trading signals and ideas. This is because many pairs are correlated, and the price movement in one set can result in either change in the same direction (positive correlation) or opposite direction (negative correlation) in the other set:
- EUR/AUD – Traders may commonly see a positive correlation between the prices of GBP/AUD and this FX pair
- AUD/USD – Prices for this currency pair are usually the reverse of the movements seen in GBP/AUD
GBP/AUD Trading Strategy Considerations
Forex traders today need to know the pip value of the currencies they are working with, but above that must be aware of world events and use all available data to their advantage.
Trade
There is a long history of trade between the UK and Australia. The UK is Australia’s ninth largest two-way trading partner and the second-largest source of foreign investment in the country.
The pound had been a unit of currency since the 8th century and became a free-floating currency in 1971. The Australian pound was replaced by the dollar in 1966, which was then floated in 1983.
The highest rate for exchanging GBP into AUD dollars was recorded at 2.96 in August 2002, when the UK’s financial sector was buoyant and its economy robust. The GBP v AUD dollars price fell to its lowest rate of 1.36 in January 1985, when the AUD was strongest.
Historical Data
Investors in GBP to AUD can review historical data. Traders can track price changes across a range of time periods, for example, data from yesterday, the last 6 or 12 months, or even a 5-year history. Many clients choose to view this information on candlestick charts, which clearly depicts any movement information and can be used to visualize potential trends going forward.
News
Political and world events can greatly impact the GBP v AUD exchange rate, so traders should stay up to date with breaking news in respective countries and the knock-on impact on currencies. Local news, such as the BBC in the UK, offer real-time access to live announcements.
Brokers
Many firms offer GBP against AUD for forex trading, including IG and Oanda. Online brokers have different trading platforms (like MT4) that offer various tools and analytical capabilities. TradingView, DailyFX, Reuters, and Yahoo Finance are also popular choices for GBP to AUD research. They provide weekly outlooks, monthly averages, mid-market rate information, and interactive charts. Banks like HSBC, Westpac, and Interbank can also be useful resources of live graphs for exchange rates over time.
Forecasts
Many GBP vs. AUD investors use long-term FX forecasts to inform their strategy – for example, a graph of 10 years may calculate a trend of annual fluctuations and thus when a large investment might be appropriate. Equally, a GBP to AUD money 5-year forecast can display a medium-range mood and might predict the average rate over this period. These sentiment tools can also be used more close range, for example, for the week ahead or today.
Role Of GBP
The GBP is the oldest and fourth most traded currency in the forex space. The US dollar, and to a lesser extent, the euro, are considered the world’s unofficial reserve currencies. However, the pound is also held in reserve along with the Swiss franc and Japanese yen, indicating the important role it plays in the world economy.
Note, the Russia-Ukraine war, high oil prices, and inflation rates have recently negatively impacted the GBP.
Role Of AUD
The AUD follows the GBP as the fifth most traded currency in the forex market. With Australia being a key exporter, its rate is strongly influenced by commodity prices. It has close proximity to Asian economies, especially China, with its booming manufacturing sector and high requirement for resources. The AUD rate is heavily dependent on the degree of manufacturing output from these regions. And as this has risen in line with the global recovery from the Covid-19 pandemic, the price of the Australian Dollar has been positively impacted.
Final Word On Trading GBP/AUD
Forex investors trading GBP/AUD enjoy a volatile currency outside of the major pairs. Traders can use live exchange rate charts and technical analysis to make the most profit from this pair. Investors can also benefit from monitoring market news to pre-empt events that could affect the rate of GBP vs. AUD.
FAQs
How Do I Start Trading The GBP/AUD?
Investors will need to open a trading account with a forex broker to start buying and selling the currency pair. Look for a provider with tight spreads, leveraged trading opportunities, and user-friendly analysis tools.
Is GBP Going Up Or Down Vs. The AUD?
Rates are affected by many factors and can move rapidly, so be sure to check the most up-to-date news outlets and live charts for forecasts. Most top forex brokers offer a range of real-time trading tools.
Why Is The GBP Weak Against The AUD?
Like many economies, the UK has been affected by inflation, high oil prices, and the Russian-Ukrainian war. Even though it is not part of the EU, the UK’s pound is influenced by political events in Europe.
Is AUD Getting Stronger Against The GBP?
The GBP/AUD exchange rate fluctuates daily. With that said, following Covid-19, the Australian dollar slowly recovered. Plus, because it is a commodity currency, higher oil prices have helped the AUD rise.
Is It A Good Time To Buy GBP/AUD?
Although the value of the AUD has been rising against a number of big currencies in recent years, geopolitical events and changes to commodity exports in Australia can impact the strength of the currencies. Conduct your own research before you take a position.
Where Can I find AUD GBP 10 Year History?
You can find a GBP to AUD graph for 5 years, 10 years, or even 20 years at various online sources. Try your broker first – many trading platforms have their own integrated historical charts. Another good option is TradingView.