Though ASIC regulates dozens of Forex brokers in Australia, traders in the southern hemisphere neednt look only within their borders for the best brokerage. In fact, some of the best Forex brokers in Australia may not be based in Australia at all!  Nevertheless, the benefits of choosing an Australian Forex broker should not be overlooked. Specifically, Australian Forex brokers may provide market updates during the Asian trading session, stronger customer support availability during local trading hours and a connection with local banks. Weve compiled a list of the top Australian Forex brokers based on reliability, professionalism, responsiveness and, of course, trading conditions, to help you find the best Australian Forex broker for your specific needs.

Australians arent the only ones who think their currency is valuable.  In fact, the Australian dollar (AUD) is one of the major currencies and is included in many different pairs (thinkAUD/USD, AUD/CAD, EUR/AUD, for example).  If you live down under, however, you may feel more comfortable trading your own currency over others.  For this reason alone, its a good idea to look for Forex brokers in Australia that offer the best spreads and execution for AUD pairs and crosses.

One important thing to consider is that Australian regulated brokers are able to offer up to 1:500 leverage while those regulated in other regions may be required to limit their leverage in order to protect trader funds.  (Of course, non-regulated brokers that accept Australian clients may offer even higher leverage, but we dont recommend trading with non-regulated brokers or risking too much on a single position).

Regulation for Australian Forex brokers is provided by ASIC, the Australia Securities and Investments Commission.  By investing the time and energy in obtaining this type of regulation Australian Forex brokers are indicating that theyre invested in protecting the security of their clients funds and that they arent a fly-by-night brokerage that will take your money and close.  Of course, brokers regulated in other regions have demonstrated similar willingness.  The biggest difference, however, is that if youre based in Australia and you worry about ever having to make a claim against your Forex broker, you may want to do so to a regulatory body that is in your area.  It is also worth noting that some brokers have ASIC regulation as well as regulation in other regions, indicating a global reach and a commitment to trustworthiness.

Consider trying out a few of our top rated Australian Forex brokers by opening a demo account and testing the trading conditions for yourself.  You may be surprised to find that there are different advantages and disadvantages to each broker.  Check out the broker list below to get started.

Highly regulated, choice of fixed or floating spreads

MiFID, Central Bank of Ireland, ASIC, FSC, BVIFSC

Highly regulated, choice of fixed or floating spreads

CySEC, Financial Conduct Authority (FCA), ASIC

Hybrid execution model + scalping, hedging and more trading options

Hybrid execution model + scalping, hedging and more trading options

Best broker for social traders and crypto traders

No dealing desk execution + wide range of trading apps

35,000+ instruments within an award winning platform. Industry-leading prices

MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based

600+ Instruments, 30% Welcome Bonus, 0% Commissions

No Forex broker may do business from Australia unless they are regulated byASIC. So,the first task in doing your due diligence on any Forex broker in Australia is to check that they are regulated by ASIC.You should do this by checking the home page of the brokers website, which by Australian law must publish the details of their ASIC registration, including the registry number. Take a note of the number and go toASICs search page. Here, you can search for free to confirm the broker is indeed regulated by ASIC. If you are prepared to pay a small fee, you can also perform a paid search for more detailed information about the brokers business.

The second priority should be to check how long the broker has been in business. Forex brokers.The longer a broker has been operating, the better. This is not always a hard and fast rule, but it is certainly worth considering.

Your third job is to seewhether the fees are competitive.The best thing here which can be checked quickly iswhat the typical spreads are on major currency pairs such as the EUR/USD.This information is not always easy to find, becausedemo accounts often do not show realistic spread quotes. Most good brokers will say on their site what their typical spreads are, and the truly good ones back it up with some detail. This information is at least party reliable, as ASIC wouldnt like a claim which is obviously inaccurate. Finally, check elements like the quality of customer support, and the choice of trading platforms offered.By running through this checklist, you should end up with a shortlist of brokers that offer you a good quality of service.

Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.