10 Best Forex Brokers in Australia (ASIC Regulated)

Damilola Esebame
Written by: Damilola Esebame
Johannes Striegel
Fact checked by: Johannes Gresham
How we make money

At WR Trading, we aim to guide Australian traders to secure, efficient, and regulated Forex trading brokers. In compiling this list, we only included brokers that are regulated by the Australian Securities and Investments Commission (ASIC), the nation’s top financial regulator.

We carefully reviewed dozens of brokers based on their ASIC compliance, execution speeds, trading platforms (such as MetaTrader 4, MetaTrader 5, and cTrader), fees, spreads, commissions, and customer support. After rigorous analysis, we’ve selected the 10 best ASIC-regulated Forex brokers in Australia. No matter your trading style or experience level (beginners to professionals), you’re likely to find a forex trading platform that fits your needs here.

These are the best 10 Forex Brokers we compared, listed for traders in Australia:

Broker:

Availability:

Advantages:

Account:

Broker:

1. Pepperstone

Pepperstone Logo
12345
4.8

› Read more details

Availability:

Available in Australia

Deposit Currencies: AUD, EUR, GBP, USD, CHF

ASIC Regulated

Advantages:
  • Tier-1 Regulated Broker
  • Spreads from 0.0 Pips
  • Leverage up to 1:500 for Pro (1:30 AU Retail)
  • Low Commission from 3$/1 Lot
  • High liquidity and fast execution
  • TradingView, MT4/5, cTrader
Account:
› Visit The Broker Trading CFDs/FX carries risk and is not suitable for everyone.
Broker:

2. Fusion Markets

Fusion Markets Logo
12345
4.8

› Read more details

Availability:

Available in Australia

Deposit Currencies: AUD, USD, GBP, EUR, JPY, NZD, SGD, CAD

ASIC Regulated

Advantages:
  • Commissions $2.25 per lot per side
  • Spreads from 0.0 pips
  • ASIC & VFSC regulated
  • MT4, TradingView, cTrader
  • Execution speed: 35 ms
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk)
Broker:

3. Plus500

plus500-logo
12345
4.7

› Read more details

Availability:

Available in Australia

Deposit Currencies: AUD, USD, EUR, GBP, and more

ASIC Regulated

Advantages:
  • Multiple regulations
  • Leverage up to 1:50
  • Demo account available
  • More than 100 FX CFD pairs
  • No Commission
  • Plus500 WebTrader, Plus500 App
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk)
Broker:

4. eToro

eToro logo
12345
4.2

› Read more details

Availability:

Available in Australia

Deposit Currencies: USD (AUD deposits are converted)

ASIC regulated

Advantages:
  • Different ECN Accounts
  • Spreads from 0.0 Pips
  • Copy Trading available
  • Leverage up to 1:2000
  • Low Commission from 6$/1 Lot
  • High liquidity and fast execution
  • TradingView, MT4/5, cTrader, Pro Trader
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk)
Broker:

5. IG

12345
4.9

› Read more details

Availability:

Available in Australia

Deposit Currencies: AUD, USD, EUR, GBP, and more

ASIC regulated

Advantages:
  • No Minimum Deposit
  • Spreads from 0.6 Pips
  • Access to 17,000+ Markets
  • Leverage up to 1:200
  • Low Commissions from $3 per trade
  • Regulated by Tier-1 Authorities (FCA, ASIC, MAS)
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk.)
Broker:

6. XM

XM Logo
12345
4.8

› Read more details

Availability:

Available in Australia

Deposit Currencies: any (automatically converted into the base currency of the account)

ASIC regulated

Advantages:
  • Multiple regulated
  • Spreads from 0.0 Pips
  • Leverage up to 1:500 (1:30 EU)
  • Low Commission from 2$/1 Lot
  • Personal support
  • MT4, MT5
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk)
Broker:

7. AvaTrade

AvaTrade logo
12345
4.2

› Read more details

Availability:

Available in Australia

Deposit Currencies: AUD, USD, EUR, GBP, JPY, ZAR, CHF, and more

ASIC regulated

Advantages:
  • Multiple Regulations
  • Leverage up to 1:400
  • Minimum Deposit $100
  • 1.260+ Assets
  • Copy Trading available
  • MT4, MT5, and own platforms
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk)
Broker:

8. AXI

Axi Logo
12345
4.7

› Read more details

Availability:

Available in Australia

Deposit Currencies: AUD, USD, EUR, GBP, JPY, CHF, NZD, CAD

ASIC regulated

Advantages:
  • Spreads from 0.0 pips
  • No Commissions
  • Multiple regulations
  • MetaTrader 4, MT4 NexGen, Signal Start
  • Leverage up to 1:30 (higher for pro clients)
  • $0 Minimum Deposit
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk)
Broker:

9. Vantage

Vantage Markets Logo
12345
5

› Read more details

Availability:

Available in Australia

Deposit Currencies: AUD, EUR, USD, SGD, CAD, GBP, NZD, JPY, HKD

ASIC Regulated

Advantages:
  • ECN Accounts
  • Spreads from 0.0 Pips
  • Copy Trading available
  • Leverage up to 1:500
  • Low Commission from 1.5$/1 Lot
  • High liquidity and fast execution
  • TradingView, MT4/5, cTrader, Pro Trader
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk)
Broker:

10. GO Markets

GO Markets Logo
12345
4.7

› Read more details

Availability:

Available in Australia

Deposit Currencies: AUD, USD, GBP, EUR, NZD, SGD

ASIC regulated

Advantages:
  • Leverage up to 30:1 (higher for pro clients)
  • Commissions from $0 to $3 per side per lot
  • Minimum Deposit: $200
  • MetaTrader 4, MetaTrader 5, GO WebTrader, GO Mobile
  • Regulations: ASIC, CySEC
  • Spreads from 0.0 pips
Account:
› Visit The Broker (Risk Warning: Your capital can be at risk)

1. Pepperstone

Pepperstone Best Forex Broker in Australia
Pepperstone – FX Broker for Australian Traders

At WR Trading, we consider Pepperstone one of the top Forex brokers in Australia, thanks to its ultra-fast execution speeds, low trading costs, and substantial regulatory compliance with ASIC. Founded in 2010 and headquartered in Melbourne, Australia, Pepperstone has grown into a global leader in the Forex industry. The broker is fully licensed by ASIC and regulated by other top-tier authorities worldwide, reinforcing its reputation as a secure and trustworthy platform.

As an A-Book broker operating on a no-dealing-desk (NDD) model, Pepperstone offers direct market access, significantly reducing the risk of conflict of interest and ensuring fair pricing for Australian traders. Pepperstone supports various trading platforms, including MT4, MT5, cTrader, and TradingView, giving traders a wide range of tools and functionality. With spreads from 0.0 pips and multiple account types tailored to different trading styles.

Key Facts About Pepperstone:

FeaturePepperstone
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationFCA (UK), DFSA (UAE), SCB (Bahamas), CySEC (Cyprus), BaFin (Germany), CMA (Kenya)
Account TypesStandard, Razor
Tradable InstrumentsShares, Currency Indices, Indices, Commodities, Forex
Trading PlatformsMetaTrader 4, MetaTrader 5, cTrader, TradingView, Pepperstone Mobile App 
Minimum Deposit$0
Minimum Order0.01 lot 
LeverageUp to 1:500 for Pro; 30:1 (for Australian retail traders under ASIC rules)
SpreadsFrom 0.0 pips (Razor account)
Variable (Standard account)
Commissions$0 (Standard)
$3.5 per lot per side (Razor)
Accepted CurrencyUSD, GBP, EUR, AUD, CAD, CHF, JPY, NZD, SGD, HKD
Transaction OptionsBank transfer, Visa, MasterCard, Flutterwave, MPESA, Skrill, PayPal, Neteller
› Sign up for free with Pepperstone! Trading CFDs/FX carries risk and is not suitable for everyone. Refer to our PDS and TMD. Pepperstone Group Limited, AFSL 414530

2. Fusion Markets

Fusion Markets Best Forex Broker in Australia
Fusion Markets – FX Broker for Australian Traders

We selected Fusion Markets at WR Trading for its lowest available prices and commitment to transparency. Founded in 2017 and headquartered in Melbourne, Fusion Markets is regulated by ASIC and offers the industry’s lowest trading commissions, with a minimum spread of 0.0 pips and a commission of only $2.25 per side.

Fusion Markets is a no-dealing-desk (NDD) broker that promises fast execution and direct market access. It supports many trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader, making it a popular choice among both beginners and experienced traders. With no minimum deposit requirement, Fusion Markets is easy to use and ideal for cost-conscious traders who want state-of-the-art features without incurring premium charges.

Key Facts About Fusion Markets:

FeatureFusion Markets
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationVFSC (Vanuatu)
Account TypesClassic, ZERO (Raw)
Tradable InstrumentsForex, Shares, Indices, Commodities, Cryptocurrencies, CFDs
Trading PlatformsMetaTrader 4, MetaTrader 5, cTrader
Minimum Deposit$0
Minimum Order0.01 lot 
LeverageUp to 500:1
30:1 (for Australian retail traders under ASIC rules)
SpreadsFrom 0.0 pips (ZERO account)
From 0.9 pips (Classic account)
Commissions$0 (Classic)
$2.25 per lot per side (ZERO)
Accepted CurrencyAUD, USD, GBP, EUR, JPY, NZD, SGD, CAD
Transaction OptionsBank wire, credit/debit cards, POLi, Skrill, Neteller, PayPal
› Sign up for free with Fusion Markets! (Risk Warning: Your capital can be at risk)

3. Plus500

Plus500 Best Forex Broker in Australia
Plus500 – FX Broker for Australian Traders

Plus500 is a highly recognised CFD broker globally with an accessible trading platform and a wide variety of instruments. ASIC-regulated and Sydney-based, Plus500 appeals to Australian traders who like simplicity, fixed spreads, and no commissions.

At WR Trading, we liked its easy-to-use proprietary platform, launched in 2008 and available on web and mobile. Though Plus500 does not support MT4 or MT5, the broker offers advanced risk management tools like guaranteed stop-loss and trailing stop, making it popular among beginners and professional traders.

Key Facts About Plus500:

FeaturePlus500
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationFCA (UK), CySEC (EU), FMA (NZ), MAS (Singapore)
Account TypesRetail, Professional
Tradable InstrumentsForex, Stocks, Indices, ETFs, Options, Commodities, Cryptocurrencies
Trading PlatformsProprietary Plus500 WebTrader, Plus500 Mobile App
Minimum Deposit$100
Minimum OrderVaries per instrument
LeverageUp to 30:1 (retail, per ASIC rules)
Higher for pro clients
SpreadsFixed spreads vvaryby asset
Commissions$0 — all trading is commission-free
Accepted CurrencyAUD, USD, EUR, GBP, and more
Transaction OptionsCredit/debit card, PayPal, Skrill, Bank transfer, POLi, BPay
› Sign up for free with Plus500! (Risk Warning: Your capital can be at risk)

4. eToro

eToro Best Forex Broker in Australia
eToro – FX Broker for Australian Traders

eToro is a market leader for Australian traders who appreciate ease of use, social trading, and coverage across multiple assets. Founded in 2007 and regulated by ASIC, eToro was one of the first brokers to offer social and copy trading.

We found that Australian clients can trade a wide variety of assets, including forex, stocks, indices, ETFs, and cryptocurrencies on eToro. The web platform is user-friendly and easy to navigate for beginner traders. While spreads are not as narrow as ECN-style brokers, there are no commissions on trading stocks, making it an adequate choice for buy-and-hold investors.

Key Facts About eToro:

FeatureeToro
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationFCA (UK), CySEC (Europe)
Account TypesRetail, Professional, Demo
Tradable InstrumentsForex, Stocks, Indices, ETFs, Cryptocurrencies, Commodities
Trading PlatformseToro Web Platform, eToro Mobile App
Minimum Deposit$50 (AUD equivalent for Australia)
Minimum Order$10 for crypto
$50 for stocks
$1,000 for copy trading portfolios
LeverageUp to 30:1 (retail)
Up to 400:1 (professional clients)
SpreadsFrom 1.0 pip on major FX pairs
Commissions$0 on stocks
Variable spreads on forex and crypto
Accepted CurrencyUSD (AUD deposits are converted)
Transaction OptionsCredit/debit cards, PayPal, POLi, bank transfer, Skrill, Neteller
› Sign up for free with eToro! (Risk Warning: Your capital can be at risk)

5. IG

IG Best Forex Broker in Australia

Founded in 1974, IG is one of the oldest and most respected brokers globally, and a solid choice for Australian forex traders. At WR Trading, we recommend IG because ASIC highly regulates it and offers a wide range of trading tools appropriate for sophisticated retail and institutional traders.

IG stands out for its extensive market coverage of over 17,000 financial instruments. It boasts a proprietary trading platform in addition to MetaTrader 4 and supports advanced charting, detailed market analysis, and mobile access. IG provides education that makes it an optimum choice for both beginners and professional traders.

Key Facts About IG:

FeatureIG
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationFCA (UK), CFTC (US), NFA, MAS, FSA
Account TypesStandard, Share Trading, CFD Trading
Tradable InstrumentsForex, Indices, Shares, ETFs, Options, Commodities, Bonds, Crypto
Trading PlatformsIG Proprietary Platform, MetaTrader 4, Mobile App
Minimum Deposit$0 (bank transfer)
$450 (credit/debit card)
Minimum Order0.01 lot
LeverageUp to 30:1 (retail clients per ASIC rules)
Up to 200:1 (pro clients)
SpreadsFrom 0.6 pips on major forex pairs
Commissions$0 for forex and indices
Share CFDs from 0.10%
Accepted CurrencyAUD, USD, EUR, GBP, and more
Transaction OptionsCredit/debit cards, PayPal, BPAY, Bank transfer
› Sign up for free with IG! (Risk Warning: Your capital can be at risk.)

6. XM

XM Best Forex Broker in Australia

XM is a globally trusted forex and CFD broker offering a secure and newbie-oriented platform to traders in Australia. An ASIC-regulated broker, we found that XM has a strong history of upholding high financial standards and securing clients.

Ever since it was founded in 2009, XM has expanded to accommodate millions of clients worldwide. It offers over 1,000 instruments, including forex, stocks, indices, and commodities. Australian traders benefit from tight spreads, no fees, and MT4 and MT5 platforms with super-fast execution.

Key Facts About XM:

FeatureXM
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationCySEC, DFSA, IFSC
Account TypesMicro, Standard, Ultra Low, Shares
Tradable InstrumentsForex, Stocks, Commodities, Indices, Cryptocurrencies
Trading PlatformsMetaTrader 4, MetaTrader 5, XM Mobile App
Minimum Deposit$5 (Micro and Standard accounts)
Minimum Order0.01 lot
LeverageUp to 30:1 (retail, per ASIC rules)
Higher for pro accounts
SpreadsFrom 0.6 pips on Ultra Low account
Commissions$0 on most accounts
$3.5 per side (Shares account)
Accepted CurrencyAUD, USD, EUR, GBP, CHF, JPY, and more
Transaction OptionsCredit/debit cards, Neteller, Skrill, Bank Transfer, POLi
› Sign up for free with XM! https://wrtrading.com/go/xmaccount

7. AvaTrade

AvaTrade Best Forex Broker in Australia

At WR Trading, we picked this broker because it is a well-established international forex and CFD broker with ASIC regulation, known for providing an extremely safe and user-friendly trading experience. AvaTrade was established in 2006 and has increasingly gained popularity among traders from Australia thanks to its fixed spreads, free trading tools, and a great variety of tradable assets available.

The broker supports several platforms, including MetaTrader 4, MetaTrader 5, and its AvaTradeGO proprietary app. The broker takes the lead in delivering automated trading integration and extensive educational materials that can be used by experienced and inexperienced traders in Australia.

Key Facts About AvaTrade:

FeatureAvaTrade
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationFSCA, FSA, ADGM, CySEC, ISA
Account TypesRetail, Professional, Islamic (swap-free)
Tradable InstrumentsForex, Indices, Commodities, Stocks, ETFs, Bonds, Cryptocurrencies
Trading PlatformsMetaTrader 4, MetaTrader 5, AvaTradeGO, WebTrader, DupliTrade, ZuluTrade
Minimum Deposit$100
Minimum Order0.01 lot
LeverageUp to 30:1 (retail, per ASIC rules)
Up to 400:1 (pro clients)
SpreadsFixed spreads from 0.9 pips
Commissions$0 — commission-free model
Accepted CurrencyAUD, USD, EUR, GBP, JPY, ZAR, CHF, and more
Transaction OptionsCredit/debit cards, Bank transfer, Neteller, Skrill, POLi, PayPal
› Sign up for free with AvaTrade! (Risk Warning: Your capital can be at risk)

8. AXI

Axi Best Forex Broker in Australia

AXI (formerly AxiTrader) is a top-rated Australian ASIC-regulated forex brokerage. Sydney-based and founded in 2007, AXI has developed a record for transparency, competitive rates, and excellent customer support.

We found this broker to be a favourite among professional traders because of its powerful MT4-based platform, very tight spreads, and rapid execution. AXI offers standard and raw accounts, with the spreads as tight as 0.0 pips for raw accounts. Its addition of AutoChartist and PsyQuation analytics gives Australian traders an edge in the market.

Key Facts About AXI:

FeatureAXI
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationFCA (UK), DFSA (UAE), FMA (NZ)
Account TypesStandard, Pro, Elite
Tradable InstrumentsForex, Commodities, Indices, Cryptocurrencies, Shares (via CFD)
Trading PlatformsMetaTrader 4, MT4 NexGen, Signal Start
Minimum Deposit$0 (Standard)
$25 (Pro)
Minimum Order0.01 lot
LeverageUp to 30:1 (retail, per ASIC rules)
Higher for pro clients
SpreadsFrom 0.0 pips (Pro), from 1.0 pips (Standard)
Commissions$7 round turn per lot (Pro), $0 (Standard)
Accepted CurrencyAUD, USD, EUR, GBP, JPY, CHF, NZD, CAD
Transaction OptionsBank transfer, Credit/debit card, Neteller, Skrill, POLi, BPAY
› Sign up for free with AXI! (Risk Warning: Your capital can be at risk)

9. Vantage Markets

Vantage Markets Best Forex Broker in Australia

At WR Trading, Vantage Markets ranks among our top picks for Australian Forex brokers, thanks to its professional-grade tools, beginner-friendly account options, and strong regulatory oversight by ASIC. Founded in 2009 and headquartered in Sydney, Vantage serves both new and experienced traders with access to advanced platforms and competitive trading conditions.

As an A-Book broker, Vantage Markets provides direct market access through platforms like MetaTrader 4, MetaTrader 5, TradingView, and Vantage App. With ECN-style accounts, spreads from 0.0 pips, and leverage up to 500:1 for professional clients, the broker is well-suited for serious traders. Retail clients benefit from ASIC’s 30:1 leverage cap along with risk management protections, reinforcing Vantage’s position as a transparent and trustworthy broker.

Key Facts About Vantage Markets:

FeatureVantage
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationCIMA (Cayman Islands), VFSC, SIBL
Account TypesPro ECN, Raw ECN, Standard STP, CENT, Premium, Swap-Free
Tradable InstrumentsForex, Indices, Commodities, Share CFDs, ETFs, Bonds, Energies
Trading PlatformsVantage App, MetaTrader 4, MetaTrader 5, TradingView, ProTrader
Minimum Deposit$50 (Raw and Standard)
$10,000 (Pro ECN)
Minimum Order0.01 lot
LeverageUp to 500:1
30:1 (for Australian retail traders per ASIC rules)
SpreadsFrom 0.0 pips (Raw and Pro ECN)
From 1.0 pip (Standard and CENT)
CommissionsFrom $1.50 (Pro ECN)
From $6 (Raw ECN)
$0 (Standard, CENT)
Accepted CurrencyAUD, USD, GBP, EUR, NZD, SGD, JPY, CAD, HKD
Transaction OptionsVisa, MasterCard, POLi, Neteller, Skrill, BPAY, AstroPay, Pagsmile, Broker Transfer
› Sign up for free with Vantage Markets! (Risk Warning: Your capital can be at risk)

10. GO Markets

GO Markets Best Forex Broker in Australia

GO Markets is one of Australia’s oldest forex brokers, established in 2006 and operating from Melbourne. Its ASIC license and well-known emphasis on transparency, client education, and solid trading infrastructure caught our attention at WR Trading.

The broker provides a wide variety of financial products through the MT4 and MT5 platforms. GO Markets offers both Standard and GO Plus+ accounts with spreads of 0.0 pips. It is suitable mainly for traders seeking a cheap, reliable broker with decent customer support and research tools like AutoChartist and Trading Central.

Key Facts About GO Markets:

FeatureGO Markets
Available in AustraliaYes
Regulated by ASICYes: ASIC regulated
Other RegulationCySEC (EU)
Account TypesStandard, GO Plus+
Tradable InstrumentsForex, Indices, Commodities, Shares, Cryptocurrencies, Metals
Trading PlatformsMetaTrader 4, MetaTrader 5, GO WebTrader, GO Mobile
Minimum Deposit$200
Minimum Order0.01 lot
LeverageUp to 30:1 (retail, per ASIC rules)
Higher for pro clients
SpreadsFrom 0.0 pips (GO Plus+), from 1.0 pips (Standard)
Commissions$0 (Standard), $3 per side per lot (GO Plus+)
Accepted CurrencyAUD, USD, GBP, EUR, NZD, SGD
Transaction OptionsCredit/debit card, Bank wire, POLi, Skrill, Neteller, BPAY
› Sign up for free with GO Markets! (Risk Warning: Your capital can be at risk)

What Is The ASIC Regulation?

ASIC stands for the Australian Securities and Investments Commission, an independent government body that oversees Australian financial markets and services. ASIC regulation is a key factor in ensuring that your broker meets high standards of security and transparency. 

When a broker is ASIC-regulated, it means they follow strict rules to protect your money and ensure fair trading practices. ASIC requires brokers to keep your funds in separate accounts so your money is safe even if the broker faces financial issues. They demand clear and honest communication about fees and trading conditions, so you always know what to expect.

ASIC helps you focus on your trading

Essentially, ASIC regulation ensures the broker you choose operates under strict guidelines, providing a secure and transparent environment for your trading activities. This way, you can focus on your trades, knowing your broker is held to high standards of integrity and professionalism.

Is Forex Trading Legal in Australia? 

Yes, anybody can legally trade Forex in Australia. Nevertheless, it is essential to register with FX brokers with an Australian Financial Services License (AFSL) from the Australian Securities and Investments Commission (ASIC). The ASIC has a list of guidelines that international forex brokers operating in Australia must satisfy.

Australian Securities and Investments Commission (ASIC)
Australian Securities and Investments Commission (ASIC)

How are Forex Brokers Regulated in Australia

In Australia, Forex brokers are regulated by the Australian Securities and Investment Commission (ASIC) under a strict legal framework designed to ensure transparency, client protection, and market integrity. The Australian Securities and Investments Commission (ASIC) performs specific key roles in regulating the activities of Forex brokers. Some of them include:

  • Mandating that all forex brokers keep client funds in segregated accounts.
  • Implementing leverage restrictions to protect traders from excessive losses.
  • Enforcement of Counter Terrorism Financing (CTF) and Anti Money Laundering (AML) policies.

Security of the Regulation

Forex trading in Australia is highly regulated. The ASIC ensures that brokers operate in the best interest of clients. For example, brokers must offer negative balance protection to shield investors from massive losses.

They are required to close out positions if the margin levels go below 50% of the required margin.

How to Find Out if Your Forex Broker is Regulated in Australia

Here’s a step-by-step guide on how to verify if your broker is ASIC-regulated:

Visit the ASIC Website

Start by going to the official ASIC website. ASIC maintains a comprehensive database of all registered financial services providers.

Access the ASIC Connect Search Tool

On the ASIC website, navigate to the “Search ASIC Registers” section. Here, you’ll find the ASIC Connect Search Tool, which allows you to search for companies and financial service providers.

Search for the Broker

Enter the name of your broker in the search bar and select the appropriate category (e.g., “Australian Financial Services License”). Be as precise as possible with the broker’s name to get accurate results.

Review the Search Results

The search results will display a list of entities that match your search criteria. Look for your broker in the list and click on their name to access detailed information about their registration status.

Check the Details

Record from Vantage Markets in ASIC Connect Search Function
Record from Vantage Markets in ASIC Connect

Once you click on the broker’s name, you will see detailed information about their ASIC registration. Ensure they have a valid Australian Financial Services (AFS) license. This section will show you the broker’s license number and the date it was granted.

Verify the License Status

Confirm that the broker’s license is active and in good standing. Check if there are any notes about restrictions or suspensions that might indicate regulatory issues.

Look for Additional Information

Beyond confirming the license, check the broker’s history with ASIC for any past regulatory actions or penalties that might be relevant to your decision-making process.

Cross-Reference Information

Cross-reference the information you found on the ASIC website with details available on the broker’s website, if possible. Legitimate brokers typically display their ASIC license number and regulatory status prominently.

Contact ASIC for Further Verification

Consider contacting ASIC directly if you have any doubts or need further clarification. They can provide additional information and confirm the broker’s regulatory status.

How WR Trading Tested the Best Forex Brokers in Australia

How WR Trading Tested the Best Forex Brokers in Australia
How WR Trading Tested the Best Forex Brokers in Australia

At WR Trading, we tested the best Forex brokers based on a rigorous set of criteria tailor-made for the needs of Australian traders. We prioritise the factors like trading performance, regulatory compliance and customer experience. Below is a summary of the key factors we considered:

  • Trading Conditions: Spreads on major, minor, and exotic currency pairs were compared for each broker. Platforms offering low-cost trading, simple fee structures, and low slippage were preferred. Commission models were reviewed to ensure that they are suitable for retail and professional traders.
  • Leverage Options: While ASIC limits leverage for retail clients to a maximum of 30:1, we selected brokers offering flexible leverage within regulatory bounds, as well as negative balance protection and other risk management tools.
  • Trading Platforms: All the brokers on our list provide globally renowned trading platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and their own web or mobile platforms. We picked brokers that provide platform stability, low-latency execution, and better charting abilities.
  • Customer Support: Timely and knowledgeable customer support is invaluable for forex trading. We tested each broker’s support via live chat, phone, and email to ascertain availability, response time, and problem-solving ability. We only chose brokers with reliable, 24/5 or 24/7 multilingual support.
  • AUD Accounts and Deposit Methods: We prioritised brokers that provide accounts in Australian Dollars (AUD) to help local traders avoid unnecessary conversion fees. Additionally, we sought simple deposit and withdrawal methods like bank transfers, credit/debit cards, POLi, Skrill, and Neteller.
  • ASIC Regulation: Trust is everything, and compliance is not optional. All the brokers in this guide are licensed by the Australian Securities and Investments Commission (ASIC), ensuring they meet strict financial criteria and have strong client fund protections in place.
  • Educational Resources: All the brokers on our list offer a variety of educational resources, including webinars, eBooks, trading guides, and strategy manuals. These are suitable for both novice and experienced traders looking to enhance their skills.

Which Forex Broker in Australia is The Best For Beginners?

ASIC Regulated Forex Brokers for Beginners in Australia
ASIC-regulated Forex Brokers for Beginners in Australia

For beginners in Australia, choosing a Forex broker that aligns with your needs, offers a low minimum deposit, and has good customer support can be a game-changer. Based on our comprehensive comparison, the following brokers are the top beginner-friendly brokers: 

  • eToro: eToro is ideal for beginners because of its simplicity and revolutionary copy trading feature, which allows users to copy the strategy of successful traders. This learn-as-you-go approach, combined with a low minimum deposit requirement and ASIC regulation, makes eToro one of the most suitable options for new traders.
  • XM: XM offers extensive educational materials, including webinars, tutorials, and market analysis. Due to low minimums and micro accounts, beginners can start trading with reduced risk while still benefiting from a highly regulated and secure environment.
  • Fusion Markets: With some of the lowest trading fees in Australia and no minimum deposit, Fusion Markets is perfect for beginners who wish to practice with live accounts. Their 24/5 support and user-friendly MT4/MT5 platforms make it easy to get started.
  • Vantage Markets: Vantage provides an easy account setup and a generous demo account so that new traders can hone their skills without risking actual capital. Plenty of learning material is accessible on the site, and ASIC regulation ensures a secure trading environment.

Which Forex Broker in Australia is The Best For Professionals?

ASIC Regulated Forex Brokers for Professionals in Australia
ASIC-regulated Forex Brokers for Professionals in Australia

Experienced and professional traders in Australia need brokers that perform well in advanced tools, rich liquidity, and institutional-quality execution. According to our analysis, the following are the best options:

  • Pepperstone: Pepperstone offers razor-thin spreads, lightning-fast execution through Equinix servers, and access to advanced platforms like MetaTrader 4/5, cTrader, and TradingView. It is ideal for high-volume, professional-level traders with ASIC regulation and raw account spreads from 0.0 pips.
  • IG Markets: IG provides one of the most robust trading environments for professionals, with access to over 17,000 markets, comprehensive analytical tools, and ProRealTime charting. It is backed by decades of trust and full ASIC regulation.
  • Go Markets: Known for its strong ECN model of trading, Go Markets offers fast trade execution, institutional liquidity, and low-latency conditions suitable for scalpers and professional algorithmic traders. MT4 and MT5 are supported.
  • AXI: AXI appeals to professionals with its higher-end trading features, including PsyQuation for AI-enhanced analytics and MT4 NexGen. ASIC regulation and raw pricing contribute to its image for serious traders.
  • FP Markets: Offering DMA access, multiple trading platforms (including IRESS and TradingView), and servers located at the Equinix NY4 data centre, FP Markets offers the kind of infrastructure that professional traders look for. It permits high leverage and multiple base currencies, like AUD.

Supported Payment Methods for Australian Traders

We noted that Australia allows a wide range of both local and international payment options. Some of them include:

  • Digital wallets: Digital wallets are one of the most widely accepted transaction methods in Australia. They eliminate the need for a card or bank account. Examples of popular e-wallets in Australia are PayPal, Google Wallet, Apple Pay, and Samsung Wallet.
  • Cryptocurrencies: Crypto transactions are globally known for lower fees and speed. Therefore, they are getting increasingly popular in Australia. Bitcoin, Ethereum, and Litecoin are examples of widely accepted cryptocurrencies for Australian traders.
  • Bank transfer: Australian traders can fund their Forex accounts from their local banks. The country permits international wire transfers.

Can Australian Traders Deposit AUD and Use AUD Accounts?

Yes, Australian traders can deposit in AUD and maintain AUD-denominated trading accounts in the majority of top-level ASIC-regulated brokers. Trading with an AUD account spares traders from conversion charges and allows for more efficient local bank transfers, which is a massive relief for local traders.

From our review, the following brokers accommodate AUD accounts and AUD deposits:

  • Pepperstone – Offers AUD base currency accounts and accepts AUD via bank transfer, cards, and e-wallets.
  • Fusion Markets – Offers AUD as a base currency and offers AUD deposits via local channels.
  • Vantage Markets – Offers AUD accounts and has AUD funding via local bank transfers and payment processors.eToro – Offers AUD deposits; base accounts in USD (conversion is applied).
  • IG – Offers AUD as an account currency for clients from Australia.
  • XM – Provides AUD as a base currency, with AUD withdrawal and deposit options.
  • AvaTrade – Provides AUD deposit acceptance and AUD-denominated accounts.
  • AXI – Design specifically for Australian traders; provides support for AUD base currency as well as AUD funding.
  • Plus500 – Provides AUD accounts and accepts AUD deposits through local options.
  • Go Markets – One of the top-class brokers for Australians, offers complete AUD account support and funding.

All these brokers are ASIC-regulated, ensuring compliance with local financial rules and protection of Australian funds.

Conclusion: Top Forex Brokers Are Available In Australia

Australia has a well-established economy where finance plays a key role. Therefore, the foreign exchange market has become attractive for individual investors and big businesses. 

For people looking to start FX trading in Australia, WR Trading has simplified their search by creating a guide to the 10 top-notch trading brokers in Australia. If you sign up with any of our recommended brokers, you will have a seamless experience.

Top Forex Brokers in Australia and Their Key Features:

  • Pepperstone – Highly efficient, ASIC-regulated broker with top-tier trading platforms
  • Fusion Markets – Low-cost trading with ultra-tight spreads and no hidden fees
  • Plus500 – Beginner-friendly CFD platform with an intuitive interface
  • eToro – User-friendly platform ideal for social and copy trading in Australia
  • IG – Long-established broker with extensive research tools and ASIC regulation
  • XM – Known for adhering to essential safety protocols and fast trade execution
  • AvaTrade – Versatile broker with fixed spreads and strong mobile trading options
  • AXI – Trusted ASIC-regulated broker with powerful trading tools for pros
  • Vantage Markets – Great for both experienced and new traders
  • Go Markets – Reliable ECN broker offering MT4/MT5 and competitive spreads

Frequently Asked Questions on Forex Brokers in Australia

What is the Minimum Amount that I Need for Forex Trading in Australia?

The minimum amount depends on the broker that you select. Some brokers allow minimum deposits as low as $100, while others require higher minimum deposits. Brokers offer different types of accounts, which usually require different minimum deposit amounts.

Does Australia Deduct Taxes on Forex Trading Profits?

Yes. Australia deducts taxes from forex trading profits. The country classifies forex trading as a legitimate means of generating income, so traders are subject to taxation on their trading profits.

Damilola Esebame
Forex Trader on WR Trading
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Damilola Esebame
Damilola Esebame Forex Trader on WR Trading
Johannes Striegel
Johannes Gresham
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