Best POLi Brokers 2024

POLi is an online payment company based in Australia. The system offers an alternative to credit card payments, meaning traders can make instant transfers to their investment accounts through an internet banking login process.

In this review, we answer key questions about POLi broker payments: how does it work and is it safe? We also cover the facts and figures around security, fees, supported banks and how to sign up.

Use our list of top brokers that accept POLi deposits in 2024 to fund your trading account today.

Best POLi Brokers

After testing dozens of brokers, these are the top 9 that offer POLi:

POLi Brokers Comparison

POLi Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage Visit
Pepperstone logo
$0 CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade 1:30 (Retail), 1:500 (Pro) Visit
IC Markets logo
$200 CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) Visit
RoboForex logo
$10 CFDs, Forex, Stocks, Indices, Commodities, ETFs R StocksTrader, MT4, MT5 1:2000 Visit
Axi logo
$0 Forex, CFDs, indices, shares, commodities, cryptocurrencies MT4, AutoChartist, DupliTrade 1:400 Visit
ThinkMarkets logo
$0 CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only) ThinkTrader, MT4, MT5, AutoChartist, TradingCentral 1:500 Visit
FXCM logo
$50 CFDs, Forex, Stocks, Cryptos, Commodities Trading Station, MT4, TradingView, eSignal 1:30 Visit
RockGlobal logo
$200 CFDs, Forex, Stocks, Indices, Commodities, Crypto, Options, Futures Trader Workstation (TWS), MT4 1:500 Visit
Global Prime logo
A$200 Forex, indices, commodities, cryptocurrencies, shares, bonds MT4, TradingView, AutoChartist 1:200 Visit
Admiral Markets logo
$100 Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs, bonds, spread betting MT4, MT5, TradingCentral 1:30 (EU), 1:500 (Global) 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
  • Instruments: CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting
  • Regulator: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
  • Platforms: MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (Retail), 1:500 (Pro)

Pros

  • Award-winning customer support is available via telephone, email or live chat with response times of <5 minutes during testing.
  • Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
  • Pepperstone emerges as a low-cost broker, especially for serious day traders with spreads from 0.0 in the Razor account and rebates of 25%+ through the Active Trader program.

Cons

  • Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
  • Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets.
  • Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.

#2 - IC Markets

Why We Chose IC Markets

IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto
  • Regulator: ASIC, CySEC, FSA
  • Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
  • Min. Deposit: $200
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)

Pros

  • IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
  • With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
  • You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.

Cons

  • There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
  • Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
  • While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.

#3 - RoboForex

Why We Chose RoboForex

RoboForex is a global broker launched in 2009 and regulated by the Belize FSC. The firm offers more than 12,000 instruments spanning 9 asset classes with trades from 0.01 lots and spreads from 0 pips. The broker's advanced copy trading tool is also home to thousands of active day traders.

"RoboForex is a good pick for traders looking for a vast range of day trading markets with ECN accounts, powerful charting platforms and loyalty promotions. Real stocks traders will also appreciate the R Stocks Trader terminal, with automated trading capabilities."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs
  • Regulator: FSC
  • Platforms: R StocksTrader, MT4, MT5
  • Min. Deposit: $10
  • Min. Trade: 0.01 Lots
  • Leverage: 1:2000

Pros

  • Traders can get two free withdrawals each month, among other promotional deals
  • The proprietary R Stocks Trader terminal rivals leading platforms like MT4, with netting and hedging capabilities, comprehensive backtesting, and Level II pricing
  • Automated trading is permitted in all platforms with user-friendly robot builders and strategy testing features

Cons

  • The broker's offering varies between accounts, especially in regard to market access, leverage and additional perks
  • The broker's range of 40+ currency pairs is mediocre - one of our top award-winners, Pepperstone, offers 90+
  • The demo account expires after only 90 days, which is more restricting than some competitors - OANDA's demo, for example, does not have a time limit

#4 - Axi

Why We Chose Axi

Axi is a global forex and CFD trading firm, founded in 2007 in Sydney, Australia. Highly leveraged trading opportunities plus a $0 minimum deposit make it a popular choice among 60,000+ traders worldwide. Axi also stands out for its resources, including copy trading and Autochartist.

"Axi maintains its position as a top forex and CFD broker for seasoned traders, with more than 70 currency pairs, raw spreads and additional benefits for high-volume trading. Beginners will also appreciate the user-friendly copy trading service and free forex eBooks."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies
  • Regulator: FCA, ASIC, DFSA, FMA
  • Platforms: MT4, AutoChartist, DupliTrade
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:400

Pros

  • A strong range of advanced tools are available for experienced day traders, including the Autochartist market scanner, VPS solutions and exclusive MT4 NexGen features
  • The $0 minimum deposit, zero-commission pricing structure, and user-friendly copy trading service will appeal to beginners
  • Experienced traders can benefit from the Axi Select funded trader programme, offering funding up to $1 million and up to 90% profit share

Cons

  • There's a limited choice of third-party charting platforms compared to other brands, with only MT4 available alongside the proprietary app
  • The demo account expires after only 30 days - many alternative brokers that we test allow you to practice for 60 days or more
  • The Axi Select program requires a $500 minimum deposit to enter the first Seed stage

#5 - 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
  • Instruments: CFDs, Forex, Stocks, ETFs, Futures, Commodities, Crypto, Spread Betting (UK Only)
  • Regulator: FCA, ASIC, CySEC, FSCA, JFSA, FSA Seychelles
  • Platforms: ThinkTrader, MT4, MT5, AutoChartist, TradingCentral
  • Min. Deposit: $0
  • Min. Trade: 0.01 Lots
  • Leverage: 1:500

Pros

  • Quick and easy to open a ThinkMarkets account
  • Free VPS hosting available for MT4 and MT5, ideal for traders using Expert Advisors (EAs)
  • Three stable and award-winning platforms plus seamless integration with the broker's Signal Centre

Cons

  • Not many payment methods available for UK traders
  • $500 minimum deposit for ThinkZero account
  • Limited bonus offers, refer-a-friend schemes or trading competitions

#6 - FXCM

Why We Chose FXCM

FXCM is a respected forex and CFD broker, established since 1999. The British-headquartered broker has won multiple awards and operates in various jurisdictions, including the UK and Australia. With zero commissions, over 400 assets, and a range of analysis tools, FXCM remains a popular choice for day traders. The broker is also regulated by top-tier authorities including the FCA and ASIC.

"FXCM maintains its position as a top pick for traders deploying automated trading strategies, with four powerful platforms, strategy backtesting and algo trading through APIs. The broker is also great for active traders, with discounted spreads and low to zero commissions on popular assets."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Cryptos, Commodities
  • Regulator: FCA, CySEC, ASIC
  • Platforms: Trading Station, MT4, TradingView, eSignal
  • Min. Deposit: $50
  • Min. Trade: Variable
  • Leverage: 1:30

Pros

  • FXCM’s global reputation is impressive, with licenses from the FCA, ASIC, CySEC and FSCA and a 20-year business history
  • Alongside the 4 charting platforms, FXCM also offers a market-leading range of specialist software for experienced investors, including QuantConnect, AgenaTrader and Sierra Chart
  • The proprietary Trading Station terminal is a good choice for day traders looking for an all-in-one solution for their short-term and automated trading strategies

Cons

  • The live chat support can be slow and unreliable compared to the top competitors
  • Although FXCM continues to gear their services towards experienced traders, it’s a shame that there are no managed accounts on offer
  • There is no choice of retail accounts for traders, nor any Cent/Micro account options

#7 - RockGlobal

Why We Chose RockGlobal

RockGlobal is a New Zealand based and regulated CFD broker. They offer competitive spreads from 0.1 pips and a large range of day trading assets, trading platforms and educational services, with up to 1:500 leverage. Operating in a Tier 1 regulated environment, RockGlobal offers peace of mind and excellent customer support.

"RockGlobal is a great option for short-term CFD traders looking for low fees. The brand will also suit longer-term investors interested in buying shares at discounted rates."

- DayTrading Review Team
  • Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto, Options, Futures
  • Regulator: FSP, FMA
  • Platforms: Trader Workstation (TWS), MT4
  • Min. Deposit: $200
  • Min. Trade: 0.01 Lots
  • Leverage: 1:500

Pros

  • There are some helpful learning resources and market analysis for beginners
  • Direct stock trading with low brokerage fees from $0.02 per US share
  • High leverage is available up to 1:500

Cons

  • Payment methods are limited compared to other brokers, with only card payments and wire transfers available
  • The $20 inactivity fee is higher than some alternatives

#8 - Global Prime

Why We Chose Global Prime

Global Prime is a multi-regulated trading broker offering 150+ markets. Traders can get started with a $200 minimum deposit and trade with leverage up to 1:100. The firm also has a high trust score and a good reputation with a license from the ASIC.

"Global Prime is suitable for both beginners and seasoned traders with excellent market access, low fees and a range of tools including copy trading."

- DayTrading Review Team
  • Instruments: Forex, indices, commodities, cryptocurrencies, shares, bonds
  • Regulator: ASIC, VFSC, FSA
  • Platforms: MT4, TradingView, AutoChartist
  • Min. Deposit: A$200
  • Min. Trade: 0.01 Lots
  • Leverage: 1:200

Pros

  • Low latency with execution speeds from 10ms
  • 24/7 customer support
  • VPS

Cons

  • Clients from US and Canada are not accepted
  • Narrow range of account options
  • No MetaTrader 5 integration

#9 - Admiral Markets

Why We Chose Admiral Markets

Admirals is an FCA- and ASIC-regulated broker with an excellent range of leveraged instruments, including forex, stocks, indices, ETFs, commodities, cryptos and more. The broker supports the MetaTrader 4, MetaTrader 5 and TradingCentral platforms. With both spread betting and CFDs available and thousands of instruments, this broker provides more flexibility than most rivals.

"Admirals is a good pick for novice-to-intermediate traders that want a trustworthy, regulated broker with access to a wide range of markets with tight spreads and no commission."

- DayTrading Review Team
  • Instruments: Forex, CFDs, indices, shares, commodities, cryptocurrencies, ETFs, bonds, spread betting
  • Regulator: FCA, CySEC, ASIC, JSC
  • Platforms: MT4, MT5, TradingCentral
  • Min. Deposit: $100
  • Min. Trade: 0.01 Lots
  • Leverage: 1:30 (EU), 1:500 (Global)

Pros

  • Low minimum deposit from $100
  • Tight spreads and low to zero commissions mean Admiral Markets is a good option for active traders
  • Copy trading service with easy account controls

Cons

  • The demo account expires after 30 days
  • Monthly inactivity fee
  • US traders not accepted

POLi Overview

Based in Melbourne and part of the Australia Post company, POLi Payments Pty Ltd is the country’s leading online payment system, established in 2006.

The platform currently has over 33 million users and is partnered with over 20 major Australian and New Zealand banks. Some of its largest merchants include Jetstar and Virgin Australia, as well as popular online casino and bookmaker companies in Australia, such as Sportsbet.

Importantly, POLi enables convenient payments using the debit funds available in a trader’s bank account. This means no credit card details or lengthy payment forms are needed, as the digital portal connects directly to the trader’s internet banking feed.

poli brokers

How To Deposit Using POLi

To make payments, simply locate the POLi logo from within your trading account and enter the amount you wish to deposit. The firm will then start asking for your bank login details on the first screen, where you can check the transfer amount. Make sure the details are correct, as you will not be able to reverse the deposit.

Once you have logged in, you may need to confirm the transaction with a verification code, depending on your bank. Note that your broker may have a minimum or maximum deposit limit.

Speed

Payments are processed instantly and traders receive a notification confirming their deposit immediately. Of course, your broker may have their own processing times which may cause a slight delay in funds reaching your trading account.

Security

All communication is transmitted over Secure Sockets Layer using 2048 bit SSL Certificates. The company also uses a proxy server between the customer and the internet banking site, with advanced security to protect against DNS (Domain Name System) threats.

Furthermore, during a transaction, no third party can access a trader’s login credentials and no sensitive data is stored.

Charges

POLi does not charge any fees to use their service, however, your broker may have their own processing charges on certain payment methods. Deposits are usually free at top brokers such as FP Markets and Vantage FX, however, it’s worth checking for any withdrawal fees before you make a request.

Pros Of Trading With POLi Payments

Easy To Use

Using POLi payments is quick and easy, with no need to register for an account or download any applications. Traders can simply select it from the available payment methods in their broker’s client area and make a deposit.

Secure Status

POLi uses secure communication channels to protect client data and ensures that no sensitive banking information is stored. It is also worth checking any security procedures or fund safety measures offered by your broker for extra peace of mind.

Instant Processing

Traders receive an immediate confirmation of deposits or withdrawals. To save time, the system also auto-fills payment details for you.

Note that your forex broker may have longer processing times, which you can check by visiting their website or our detailed reviews.

Established Company

You can make payments via POLi at numerous well-known brands and established brokers including TransferWise, Western Union, Pepperstone, IC Markets and CMC Markets.

The payment provider also supports a number of major Australian and New Zealand banks, including ANZ, Citibank, Commonwealth Bank and Westpac.

Digital Currencies

Digital currencies are supported. Traders can make direct withdrawals in certain cryptocurrencies direct to their account. The broker will also need to offer this as an integrated function.

List of brokers that accept POLi deposits

Cons Of Trading With POLi Payments

Only Available To AU & NZ

Currently, the service is only available in Australia and New Zealand, which will rule out a lot of traders. Fortunately, the company does state on the website that more territories may be added in the future.

No Refund Or Chargeback

Unlike some other payment methods, POLi does not offer any kind of payment protection or reversal of funds. However, the company can assist your broker with some disputes via the dedicated merchant phone number, which can be found on the website.

Licensing

POLi has an exemption from the Australian Securities and Investment Commission and therefore does not hold an AFSL. The company does, however, act in accordance with industry regulations and standards.

Customer Support

Assistance with payments, log in or functionalities can be accessed via the website where clients can submit a ticket. Alternatively, get in touch via:

Support is available from 8:00 am – 5:00 pm AEST, Monday – Friday.

There is also a series of resources to assist clients and merchants with set up as well as an extensive FAQ section on the website. The topics covered range from processing speeds and availability to consoles and what to do when your account is not working as you had hoped.

Of course, your broker’s customer support team may also be able to help with deposit queries or withdrawal issues.

Is POLi Good For Day Trading?

POLi offers a fast and secure online transfer system which is free from any charges and doesn’t require registration. However, the service does lack customer support, as well as payment protection or refund options. Also, unless you have an Australian or New Zealand bank account, the payment provider will not be available.

FAQ

Are POLi Payments Legit & Safe For Traders?

POLi Payments Pty Ltd is a legitimate company established in 2006 and owned by SecurePay Holdings, a privately owned subsidiary of Australia Post. POLi payments are safe to use at your broker, as data is encrypted and never stored. However, it’s worth checking the regulation status of your broker and what fund safety measures are in place to protect deposits.

Do POLi Deposits Work On Weekends?

You can make payments using POLi at the weekend, however, the time it takes for funds to reach your trading account may be slower depending on your broker. Fortunately, the top trading platforms offer near-instant deposits with POLi.

Are POLi Deposits Processed Quickly By My Broker?

Yes, POLi processed payments instantaneously. That said, some brokers may also have their own processing times, though deposits are usually fast.