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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.

Australia Forex Broker Reviews

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.

City Index

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
City Index

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.

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
  • Voice brokerage
  • Publically listed

Cons

  • Trading only, no investment account
  • Pricing
    (4)
  • Market Access
    (4.5)
  • Online Platform
    (4)
  • Customer Service
    (4.5)
  • Research & Analysis
    (4.5)
Overall
4.3
Comments Rating 3.71 (62 reviews)

Capital.com

Trade over 3,700 markets, Capital.com clients can trade CFDs with leverage across the world’s most popular indices, commodities, shares and currency pairs. Australia Address: Capital Com Australia Pty Ltd Level 34/120 Collins St, Melbourne VIC 3000, Australia (ASIC AFSL 513393).

Capital.com Review
Capital.com

Name: Capital.com

Description: Capital.com was founded in 2016 and is a CFD trading platform and spread betting broker with offices in the UK and around the world. Since then, they have grown to offer over 3,700 tradable assets to 300,000 active monthly traders. Capital.com won “Best Trading App” in our 2023 Awards.

Summary

Capital.com has an easy-to-use and intuitive trading platform and app, that gives access to the most popular financial markets with competitive spreads with the ability to reduce risk by decreasing your leverage.

Pros

  • Innovative and intuitive app
  • Set your own leverage
  • Proprietary technology

Cons

  • Trading only, no ISA or SIPP
  • No options markets
  • Pricing & Spreads
    (4)
  • Market Access
    (3.5)
  • Apps & Trading Platform
    (4.5)
  • Customer Service
    (4.5)
  • Research & Analysis
    (3.5)
Overall
4
Comments Rating 4.61 (333 reviews)

IG

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
IG

Name: IG

Description: IG pioneered financial spread betting when it was founded in 1974 and is now own of the largest CFD and forex brokers in the world. IG is listed on the London Stock Exchange and offers access to 18,000 markets to 313,000 active clients. IG also recently introduce physical share dealing and smart portfolios for longer-term investors.

Why we like it

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

  • Wide market range
  • Excellent liquidity & DMA equities
  • Listed on the London Stock Exchange

Cons

  • Customer service can be slow
  • No DMA futures trading
  • Pricing
    (4.5)
  • Market Access
    (5)
  • Online Platform
    (5)
  • Customer Service
    (4)
  • Research & Analysis
    (5)
Overall
4.7
Comments Rating 3.9 (523 reviews)

CMC Markets

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
CMC Markets

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.

Summary

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 that want to trade on tight spreads, with a platform built on exceptional tech.

77% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.’

Pros

  • Excellent trading platform
  • Good liquidity
  • Unique sentiment tools

Cons

  • Trading only, no investing account
  • Limited smaller cap stocks
  • Pricing
    (5)
  • Market Access
    (4)
  • Online Platform
    (5)
  • Customer Service
    (4)
  • Research & Analysis
    (5)
Overall
4.6
Comments Rating 3.64 (107 reviews)

Pepperstone

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
Pepperstone

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 110,000 active clients. They offer Spread betting and CFDs on the major market instruments, which means they focus on the most heavily traded assets, mainly forex and indices trading, although they are building out their share trading offering and have the major stocks on international exchanges.

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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
  • Pricing
    (5)
  • Market Access
    (3.5)
  • Online Platform
    (4)
  • Customer Service
    (4)
  • Research & Analysis
    (4)
Overall
4.1
Comments Rating 4.55 (61 reviews)

Saxo Markets

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
Saxo Markets

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.

Why we like them

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 unrivaled.

Pros

  • Direct market access
  • Low commissions
  • Robust trading platform

Cons

  • Too complicated for beginners
  • Pricing
    (4.5)
  • Market Access
    (4.5)
  • Online Platform
    (5)
  • Customer Service
    (4.5)
  • Research & Analysis
    (4.5)
Overall
4.6
Comments Rating 3.6 (52 reviews)

Trade Direct 365 Forex Trading

  Trade Direct 365 is an Australian CFD ad 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 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 charged unless the stop is triggered and low margin requirements.

Read our review and Trade Direct CEO interview here

FAQs:

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.