Use our comparison tables to compare the best Australian FOREX brokers. Choose or switch to a FOREX broker that offers the most markets, best pricing and client security. FOREX trading carries a high level of risk and can result in losses that exceed your deposits. Featured brokers appear first.
Best Australia Forex Brokers 2024
Use our comparison tables to compare the best Australian Forex brokers. Choose or switch to a CFD broker that offers the most markets, best pricing and client security.
| Forex Broker | Forex Pairs | Minimum Deposit | Our Rating | More Info |
|---|---|---|---|---|
 | 182 | £100 | See Platform | |
 | 100 | £1 | See Platform | |
 | 51 | £250 | See Platform | |
 | 60 | £1 | See Platform | |
 | 84 | £1 | See Platform | |
 | 100 | £1 | See Platform | |
 | 338 | £1 | See Platform | |
 | 41 | $10 | See Platform | |
 | 62 | £100 | See Platform | |
 | 80 | £1 | See Platform |
City Index: Best Australian forex broker for trading signals
City Index is an excellent forex trading platform with 12,000 markets 25 commodities, with spreads as low as 0.8 for gold trading and 0.3 for crude oil. Australia Address: City Index (StoneX): Suite 28/01 264 George St, Sydney NSW 2000, Australia
City Index Review
Name: City Index
Description: City Index is one of the oldest spread betting and CFD brokers based in the UK. They were founded in 1983 and offer trading in over 13,500 financial markets, to around 126,000 active clients. City Index is currently owned by StoneX, a US brokerage listed on the NASDAQ valued at $1.75bn.
70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Why we like them:
City Index offers some of the best trading tools and analysis to help traders perform better. Their unique post-trade analytics and voice brokerage service make it an excellent choice for large and frequent traders.
Pros
- Excellent trading tools
- Post-trade analytics
- Publically listed (part of StoneX)
Cons
- Trading only, no investment account
- Limited options markets
- No direct market access
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Pricing
(4)
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Market Access
(4.5)
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Online Platform
(4)
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Customer Service
(4.5)
-
Research & Analysis
(4.5)
Overall
4.3Pepperstone: Best AU forex broker for automated trading
Pepperstone has a very comprehensive package of automated forex trading tools on MT4. Australia Address: Pepperstone Group Limited, 727 Collins St Level 16, Tower One, Docklands VIC 3008, Australia
Pepperstone Review
Name: Pepperstone
Description: Pepperstone were founded in 2010 in Australia and have since then grown to be a global brokerage with international offices and around 400,000 active clients. They offer spread betting and CFDs on 1,200 major market instruments, which means they focus on the most heavily traded assets, mainly forex and indices trading. Of those 900 are shares on the major stocks on international exchanges.
75.6% of retail investor accounts lose money when trading CFDs with this provider.
Why we like them
Pepperstone is a good choice for traders that want to automate their trading strategies through MT4. As far as MT4 brokers they are one of the biggest and best and offers so good EA packages.
Pros
- Tight pricing
- Wide range of MT4 markets
- Pre-built MT4 indicator packages
Cons
- Limited market access
- Only third-party platforms
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Pricing
(5)
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Market Access
(3.5)
-
Online Platform
(4)
-
Customer Service
(4)
-
Research & Analysis
(4)
Overall
4.1IG: Best AUD forex broker for large traders
IG is one of the largest global forex brokers operating in Australia with a vast selection of markets to trade with great liquidity. Australia Address: IG, 15/55 Collins St, Melbourne VIC 3000, Australia.
IG Review
Name: IG
Description: Founded in 1974 as Investors Gold Index, then IG Index, now just “IG” is one of the world’s largest margin trading brokers. IG offer CFDs, FX and Spread Betting (in the UK) alongside share trading and prime brokerage to over 313,000 active clients and offers 17,000 tradable markets. IG also recently introduced physical share dealing and smart portfolios for longer-term investors.
69% of retail investor accounts lose money when trading CFDs and spread bets with this provider.
Is IG a good trading platform?
Yes, IG provides an excellent all-round trading and investing brokerage service. IG pioneered online trading and financial spread betting for private clients and remains not only one of the largest online trading platforms, but also one of the best. IG stands out through deep liquidity, high market range and excellent added value such as trading tools and analysis.
Pros
- Vast range of markets
- Excellent liquidity & DMA equities
- Listed on the London Stock Exchange
Cons
- Customer service can be slow
- No DMA futures trading
- Still charges inactivity fee
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Pricing
(4.5)
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Market Access
(5)
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Online Platform
(5)
-
Customer Service
(4)
-
Research & Analysis
(5)
Overall
4.7CMC Markets: Best Australian forex trading platform for tight pricing
CMC Markets has good forex sentiment tools and over 388 forex pairs to trade. Australia Address: Level 20, Tower 3, International Towers, 300 Barangaroo Ave, Barangaroo NSW 2000, Australia
CMC Markets Review
Name: CMC Markets
Description: CMC Markets is one of the original spread betting and CFD brokers based in the UK. They have been providing forex trading services since 1989 and are now listed on the London Stock Exchange. The broker has over 300,000 active clients trading online and is operated from 13 global offices, with headquarters in The City of London.
67% of retail investor accounts lose money when trading CFDs with this provider
Is CMC Markets legit?
Yes, CMC Markets has always offered, and still does one of the best trading platforms for high-frequency and active traders. It’s a good choice for those who want to trade on tight spreads, with a platform built on exceptional tech.
Pros
- Excellent trading platform
- Good liquidity
- Unique sentiment tools
Cons
- Trading only, no investing account
- Limited smaller cap stocks
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Pricing
(5)
-
Market Access
(4)
-
Online Platform
(5)
-
Customer Service
(4)
-
Research & Analysis
(5)
Overall
4.6Saxo Markets: Best AU forex trading platform for DMA currency futures
Saxo Markets provides OTC & DMA (direct market access) forex trading as well as trading for gold and oil. Australia Address: Saxo Markets, Suite 1, Level 14/9 Castlereagh St, Sydney NSW 2000, Australia
Saxo Markets Review
Name: Saxo Markets
Description: Saxo Markets is one of the largest CFD brokers worldwide and provides direct market access to equities, bonds, forex, futures and options as well as being a major liquidity and infrastructure provider to wealth managers, banks and smaller brokers.
64% of retail investor accounts lose money when trading CFDs with this provider
Is Saxo Markets a good broker?
Yes, Saxo Markets is a good choice for more sophisticated traders. The platform, analysis, and direct market access may be too complicated for beginners. But, for experienced traders its coverage, commissions and research are unrivalled.
Pros
- Direct market access
- Low commissions
- Robust trading platform
Cons
- Seen as a trading platform for professionals
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Pricing
(4.5)
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Market Access
(4.5)
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Online Platform
(5)
-
Customer Service
(4.5)
-
Research & Analysis
(4.5)
Overall
4.6Trade Direct 365: Simple to use AU forex trading platform
TradeDirect365 Review
Name: TradeDirect365
Description: TradeDirect365 is an Australian CFD and forex broker offering access to Forex, Index and Commodities markets. Trade Direct 365 offers low CFD commissions (just $5.00 or 0.07% above $7,150 trade value), tight 24hr FIXED spreads – 0.9pts on the Australia 200 Index. FX spreads at just 0.8 pips fixed on AUD/USD, EUR/USD & USD/JPY – with no added commission. As well as guaranteed stop-loss orders. No fees are charged unless the stop is triggered and low margin requirements.
Summary
A suitable choice for local Australian traders wanting access to the most popular CFD markets.
Pros
- Tight pricing
Cons
- Limited market range
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Pricing
(4)
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Market Access
(4)
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Online Platform
(4)
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Customer Service
(4)
-
Research & Analysis
(4)
Overall
4FAQs:
Here are the answers to the most commonly asked questions by people searching for the best Australian MT4 broker.
Yes, forex trading in Australia is a well-established industry provided by some of the largest publically listed companies like CMC Markets, or native (privately held) Pepperstone. Forex trading and fx brokers in Australia are regulated by ASIC to ensure they treat customers fairly and are well capitalised.
CMC Markets is one of the best brokers for trading forex in Australia as they are well backed, publically listed and have their own proprietory trading platform with usefull sentiment and analysis tools.
Yes, forex trading is a form of high risk investment and unless you are trading forex in an Australian tax-efficient account you need to pay tax on profits.
We constantly rank Pepperstone as one of the cheapest forex brokers globally. They offer tight spreads and a range of platforms, including MT4 (where they won our award for best MT4 broker) and cTrader. Both are very versatile platforms.
Forex brokers in Australia are regulated by the Australian Securities and Investments Commission. You should only ever trade with a forex broker that is regulated by ASIC.
