A comparison for everyone trading forex in Australia
Somewhere on this page is the absolute best forex broker for your needs, no matter how much â or how little â previous experience you have. Here at TradersBest.com, we understand that the world of forex trading can seem intimidating when youâre first starting out, but we donât believe that should be a deterrent.
Every forex trader has to start somewhere, and we aim to give you all the information you need to choose the broker thatâs the perfect fit for your requirements. But that doesnât mean we donât cater for experienced and knowledgeable forex traders too! You never really stop learning when trading online, and there are always new strategies to consider, and new trading platforms to get to grips with.
Wherever you are on your forex trading journey, weâre on hand with useful advice. Our experts put every forex broker to the test, and we only ever recommend the ones that make it all the way through our comprehensive review process. It means you can trust any of the forex brokers on this page, so letâs get started with finding the one thatâs perfect for you!
Is forex trading in Australia legal?
The very first thing newbie traders need to know is that trading forex in Australia is perfectly legal. Not only that, but Australia has passed laws that actively facilitate trading to a much greater extent than European and US markets.
Online forex trading in Australia is regulated by the Australian Securities and Investments Commission, better known as ASIC. You can rest assured that youâre in safe hands when you sign up to an ASIC-regulated broker, as itâs reckoned to be one of the top industry regulators, alongside the FCA, the FSCA and CySEC.
5 tips to ensure secure and fair forex trading in Australia
Check out the brokerâs security
Trading foreign currencies is an inherently risky affair, so you need to have complete confidence in your broker to keep your trading funds â and your personal data â safe and secure. Checking for certification from ASIC is essential, as is âhttpsâ security, which should be displayed in your browserâs address field.
Itâs important to check for fund segregation too, ensuring that your broker keeps client funds in entirely separate accounts. Itâs an extra layer of protection for your money, and something we consider essential here at TradersBest.com.
Search online for user reviews
If youâd like to know what people just like you have to say about your preferred forex broker, you wonât have far to look! Both delighted and disgruntled traders are bound to make their views known online, and it only takes a moment to search for their comments.
Itâs fine to disregard the occasional unfavourable comment, but you should pay attention to any recurring issues. If you canât find any comments, itâs not necessarily a bad thing â people tend to voice their complaints more quickly than their appreciation!
Check for contact details
You can be very certain that all the best forex brokers in Australia want you to be able to get in touch. So itâs important to be extremely wary about any broker failing to advertise its full contact details, including the address of its head office.
Ideally, every broker dealing in forex trading in Australia will offer some insights into its history and background, as well as details of any industry awards and accreditations. These are all positive signs of a genuine and reputable broker, and help to encourage a feeling of trust.
You could save yourself a whole lot of time by leaving the research to us and simply reading our reviews and comparisons. Weâve already checked out every brokerâs licences and certification, and made sure each broker featured on our site is reputable and legitimate.
Whether youâre trying to track down the best forex broker in Australia, or the best forex broker in Malaysia, our experts have already done the hard work. It means you simply have to browse our broker reviews, narrow down your options and then pick the forex broker offering the trading experience thatâs best for your needs.
Check out the brokerâs terms and conditions
Here at TradersBest.com, we always bring you the most complete and up-to-date information that we can. And as weâve already mentioned earlier, in Australia the best forex brokers are the ones that have received their certification from ASIC â if they donât have that, they wonât appear on our Australia forex broker list and should be avoided.
But weâre constantly checking out all the best forex platforms worldwide, so occasionally we might be slightly behind the curve if a broker makes any sudden changes to its overall terms. For that reason, we always recommend you give them a thorough read through before depositing any money, so youâre absolutely clear about your contract with the broker. If there’s anything you donât understand, the customer support team should be happy to explain it for you.
This is how our experts identify the best forex brokers in Australia
Thereâs certainly no lack of opportunities to trade forex in Australia, but not all of them are legitimate. The internet makes it exceptionally easy for the determined scammer to create a seemingly legitimate brokerâs site. And if you donât know exactly what to look out for, it can be difficult to distinguish the genuine sites from the fake ones.
That means we put every forex broker across our site through a series of licensing and security checks at the start of every review. And you can be absolutely confident that we go to great lengths to ensure that each broker has up-to-date validation from a reputable industry regulator. We expect to see client funds kept in segregated accounts as a matter of course, and state-of-the-art security features are mandatory.
Only once a broker has passed these initial checks do we proceed to the main body of our review. And once again, our checks are thorough, so you can be certain that you have all the necessary facts to hand. After all, itâs the only way to properly assess which is the best forex broker in Australia for your needs.
Usability
It doesnât make any difference whether youâre a complete beginner to the world of trading foreign currencies, or youâre a pro trader â youâll be wanting an easy and intuitive online experience. Nobody wants to spend time waiting around for pages to load, and not all fonts and graphics are equally pleasing to the eye.
But we expect much more from a forex brokerâs website than thoughtful design touches. Clear navigation is essential, so you wonât have to click around wildly trying to find the sections youâre looking for. Weâll give you insights into what to expect, including information about the type of trader that the broker is aimed at.
If you have a favourite trading platform, this is the part of our review where you discover whether itâs supported by the broker in question. Most forex brokers in Australia tend to offer MT4 and MT5 – after all, theyâre the biggest and best-known trading platforms in the world. But these days, many forex brokers offer their own proprietary trading platforms too.
Our reviews give you a rundown of the available trading platforms, including details of whether theyâre designed for desktop or mobile use â or both. Weâll give you some indications of how easy each platform is to use too, so you can assess which one will be right for your level and experience of trading.
Accounts
No two investors will be approaching forex trading in Australia in quite the same way, so forex brokers usually offer a variety of accounts including the following options:
- Demo accounts: you can trade in real time ,using virtual funds to explore how trading works without risking your own money.
- Micro and mini accounts: these accounts are aimed at beginners, allowing for smaller trades with lower deposit requirements.
- Standard accounts: these are the main trading accounts, which come with minimum deposits and trading limits, for the more confident trader.
- Professional and VIP accounts: aimed at high-level investors and traders, these accounts offer higher trading limits and a raft of benefits, including personalised support.
Payments
From the currencies you can trade to the currencies you can deposit and withdraw in, our broker reviews give you the complete picture. Weâll tell you about deposit and withdrawal limits, processing times and fees, so you wonât have any unexpected surprises.
Customer support
All of the best online forex brokers in Australia offer friendly and helpful customer support, and we let you know how to get in touch. Weâll explain whether thereâs email, telephone and live chat support, and what the operating hours are. Some brokers offer a dedicated help centre packed with FAQs, and you might even find a message board where you can ask other site users for information.
Take a look a these great forex trading sites in Australia
1.
Players from United States of America accepted
The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
2.
Players from United States of America accepted
All investments involve risks, including the possible loss of capital.
3.
Players from United States of America accepted
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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.
Hereâs how you find your perfect forex broker in Australia
Thereâs a forex broker to suit absolutely every level of Australian trader, and yours is waiting for you somewhere on this page! To help make identifying your perfect broker that little bit easier, we recommend you answer the following questions, to pinpoint your requirements more exactly:
Whatâs your risk profile?
Risk-averse traders should look for a broker with demo and micro account options, which allow for lower trading levels.
Which device will you be using?
If you want to be able to follow your trading activities on the go, look for a mobile site or a broker with a dedicated app that you can download.
How experienced are you at forex trading?
Inexperienced traders should look for a site with plenty of educational resources. More experienced traders should look for a variety of tools to help with their trading activities.
How much money do you want to invest in trading?
Be sure to look out for a broker offering trading opportunities that suit your budget.
What other trading takes place online in Australia?
Trading online in Australia isnât just confined to foreign currencies. You can also explore trading in CFDs, ETFs, commodities and stocks and shares. Not only will you be trading in heavily regulated markets, but you can count on our advice and support to help you make the right decisions while youâre learning!
Conclusion: Now youâre ready to find the best forex broker in Australia
Now weâve reached the end of our article, we hope weâve given you valuable insights that will allow you to identify your perfect forex broker. When you choose a broker from this page, you can be confident that itâs certified, reputable and legitimate, so weâre saving you a ton of research!
But we donât just lead you to the best forex broker in Australia and then leave you to sink or swim. Weâve got useful advice across our site that will be of use, no matter what or where youâre hoping to trade. From the best online trading platform for your needs, to news, reviews, comparisons and more, weâre here to help you navigate the online trading world in safety.
Best Forex Broker in Australia FAQ
⨠Which is the best forex platform in Australia?
Here at TradersBest.com, we donât believe thereâs only one forex broker thatâs the perfect fit for every investor. But our insightful reviews and comparison guides make light work of choosing the broker thatâs perfect for you. Come and check this out!
â Is forex trading legal in Australia?
Trading foreign currencies is big news around the world, but not all countries allow it. Come and find out what the situation is in Australia, and discover what forms of trading you can indulge in. You need to come and take a look at this!
â How do I find an online forex broker in Australia?
Come and pay us a visit at TradersBest.com, where weâve got information and advice for new and experienced forex traders. From the most comprehensive forex broker reviews in Australia, to our complete CFD broker list, weâve got absolutely everything you need to know. Come and see!
