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 their own informed opinions before trading anywhere, regardless of their location. See below for a list of Forex brokers we trust.

Top Forex Brokers

No.	Broker	Min Deposit	Bonus	Max Leverage	Read More
1.		$5	N/A	30:1	REVIEW
2.		$50	100%	1000:1	REVIEW
3.		$100	$10,000	400:1	REVIEW
4.		$200	Various	400:1	REVIEW
5.		$100	No	500:1	REVIEW

About Recommended Forex Brokers

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.

• XM Group – are a fantastic Forex brokerage. XM Group is a regulated online broker operated by Trading Point of Financial Instruments Ltd, a company established in 2009 that is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC 443670) and XM Global was established in 2017 and is regulated by the Financial Services Commission (000261/158). They welcome Australian traders with any experience level, and various training and educational support is included within your trading account.
• 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.
• 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.
• 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.
• BDSwiss Fx – A fantastic broker that offers a fully licensed and regulated experience. They use the ever-reliable and proven MT4 platform. We like BDSwiss Fx for the honesty, simplicity and fantastic customer support. The broker is further supplemented by their fantastic educational tools and account management for live accounts. We gave this broker five stars, and we encourage you to consider them when looking for a Forex broker to trade with.