Australian Forex Brokers
Australian Forex Brokers – an Overview
Forex trading is proving to be popular in Australia and the Australian Securities and Investment Commission (ASIC) are the regulatory body tasked with overseeing all currency trading activities. Recently, Peta Stead, Senior Lawyer of the Investment Banks division of the ASIC confirmed that any entity offering financial services to Australia must be licensed. This is despite your transactions taking place online. There are no exceptions to the rule, and all brokers, even those located overseas, are required to have a license to provide services to Australians. If you require more information, the Corporations Act of 2001 sets out the terms of that regulation.
We do not provide financial services of any sort to Australia. All entities providing financial services to Australia are required to have an Australian Financial Services License and there are licensed forex brokers offering services to Australians. Please check ASIC’s registry for all licensed brokers. Due to the high financial risks of trading, all traders are encouraged to research and form your opinions before trading anywhere, regardless of your location. See below for a list of Forex brokers we trust for traders outside of Australia.
Top 10 Trusted Forex Brokers
Recommended Forex Brokers for all Traders
We recommend that you choose wisely. Select the right partner by doing the right research. We believe in giving our traders as much choice as possible when it comes to selecting a Forex Broker to trade with. Any broker listed here must meet our unique criteria and standards including customer support, banking and cost effective withdrawals for traders.
See below for brief overviews of each broker that has made the grade. As well as the overview, you will find our full and informative reviews for each broker by clicking on their respective company names.
- Avatrade – Avatrade is incorporated and regulated by the Central Bank of Ireland, the Markets in Financial Instruments Directive of the EU (MiFID), the Australian Securities and Investments Commission (ASIC), is registered as a financial services company in the BVI and regulated by the Financial Futures Association of Japan. One of the unique features of Avatrade is that they offer leverage of 400:1, one of the highest in the industry.
- LMFX – This broker offers a number of trading platforms, from their Webtrader platform to the industry standard MT4 terminal. Traders on the go aren’t left wanting either, as you will be able to use the proved MT4 mobile trading platform. LMFX offers tight spreads, and fast executions. They also offer an attractive 100% first deposit bonus and excellent support. They are highly recommended for traders of all levels of experience.
- eToro – eToro is a very interesting as they offer “Social Trading”. Essentially, traders get to see & copy the strategies used by other more successful traders. They are fully regulated in several different jurisdictions and their licensing authorities include the NFA (US), CySEC (Cyprus), CFTC (US), MiFID (Europe) and the FCA (UK). A leverage of 400:1 is offered.
- NetoTrade – offer attractive bonuses, tight Forex spreads, flexible leverages, low rates, an established platform and the offer of straight through processing (STP). They also offer a low deposit amount of just $250, and a personal account manager capable of either guiding new traders, or helping more experienced traders to optimise their trading strategies. If you’re still unsure, why not open a FREE demo account and check out their platform?
- Markets.com – Markets.com is incorporated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC). It is also licenced and regulated by the Markets in Financial Instruments Directive of the EU (MiFID), and has the required license in numerous other territories. These include the FCA for the UK, the BdF in France, CONSOB in Italy, CNMV in Spain, AFM in the Netherlands, BaFin in Germany, FI in Sweden, The Danish FSA, PSZÁF in Hungary, NBS in Slovakia, CNB in the Czech Republic and the FSB in South Africa. These assure you that Markets.com is a very safe and secure trading environment. It’s also worth noting that they offer an attractive leverage of 200:1.